Art Collection
Lisbon’s Growing Gallery Scene Is a Haven for Art Collectors
Few cities have undergone a development process as rapid and comprehensive as Lisbon in the last decade. In the years following the financial crisis, Portugal and its capital were in tatters, but both have since emerged. Lisbon, a colorful, lively, and dynamic European capital, is today a testament to the country’s revitalization.
As Lisbon’s popularity abroad rose, tourists changed the city’s composition, and massive private investment transformed derelict buildings into brand-new homes, immediately snapped up by an ever-growing number of expats. This new market, composed of a mix of tech professionals, digital nomads, wealthy retirees, and foreign businesspeople, prompted the swift renewal of Lisbon’s gallery scene.
Read more: https://www.artsy.net/article/artsy-editorial-lisbons-growing-gallery-scene-haven-art-collectors
The British Council is considering selling up to half of the 9000 works in its art collection in order to pay a debt of £197m. This is the remaining total from its £250m pandemic-era government loan. Without additional financial support, it is ‘in real danger of disappearing’ the institution’s CEO Scott McDonald told The Guardian. The council is also considering shutting its operations in 30 to 40 countries.
McDonald states that the British Council is committed to paying back the loan but insists that the government must help find a viable solution. ‘I would just like reasonable loan terms of something like 25 years and a lower interest rate’ he said. The Art Newspaper has estimated that the current commercial interest rate applied to the loan amounts to £14m annually.
Read More: https://artreview.com/british-council-considers-selling-art-collection-to-pay-197m-debt/
Hospital patients and visitors will be able to enjoy the stories behind artwork from across Dorset through a new app.
A new project celebrating 35 years of art at Dorset County Hospital will bring the art straight to art lovers with a collection of stories and sounds that can be listened to via a mobile phone.
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Art Collection
British Council could plug £200million debt crisis by selling art collection featuring masterpieces by Tracey Amin and David Hockney
The British Council may be forced to put its £200million art collection up for sale as a result of ‘financial peril’ which is threatening the institution.
The council is facing £197million in outstanding debt after taking out an emergency £250million loan from the government during the pandemic.
