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How the Rybolovlev vs Sotheby’s case shows the need for greater transparency in the art market

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Source: The Art Newspaper

It may be strange to pity the Russian billionaire Dmitry Rybolovlev, given his testimony in the civil trial between him and Sotheby’s last month. In his lawsuit against the centuries-old auction house, the oligarch lamented the art market’s unique idiosyncrasies: “It’s not only a matter of money. It’s important for the art market to be more transparent, because as I’ve already mentioned, when the largest company in this industry [Sotheby’s] is involved in actions of this sort, clients don’t stand a chance.”

Fighting back tears, Rybolovlev described his work relationship with the Swiss dealer Yves Bouvier: “When you trust people, when a person is like a member of your family, there’s a point in time at which you begin to completely and utterly trust a person.”

Read more: https://www.theartnewspaper.com/2024/01/26/how-the-rybolovlev-vs-sothebys-case-shows-the-need-for-greater-transparency-in-the-art-market

Art Market

Saturday Art Market opens May 25 at Big Ole Park

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Source: Echo Press

The Saturday Art Market is an exciting opportunity for locals and visitors to gather at Big Ole Park on the north end of Broadway in Alexandria every Saturday this summer.

Attendees will be able to visit with local artists and shop their offerings. Coffee and food items will be available near the market and there will be live music every weekend.

The Art Market, which is held next to Alexandria’s Farmer’s Market, runs every Saturday from 9 a.m. to 1:30 p.m., May 25 through Aug. 31. Music will run from 9:30 a.m.-12:30 p.m. each Saturday.

Read more: https://www.echopress.com/news/saturday-art-market-opens-may-25-at-big-ole-park

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Art Market

Art Market Seeks Its Footing After Stumbling Sales and a Hack at Christie’s

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Source: The New York Times

Estimates are still soaring past the $20 million mark and canvases still bear the signatures of dependable ringers like Warhol, Basquiat and Picasso. But there is a shadow looming over the spring auction season that begins Monday.

A cyberattack at Christie’s brought down the company’s website on Thursday, and as of Sunday morning, Christie’s had not yet regained control of it. On Sunday evening, in his first public statement since the cyberattack, Guillaume Cerutti, the chief executive of Christie’s, confirmed that eight auctions would proceed as scheduled, with bidding in person and by phone (the rare watches sale has been postponed until May 14). A place-holder website was set up allowing access to the digital catalogs, but did not allow online bidding. With the site down and questions still unanswered about the fate of confidential data, analysts are uncertain about the impact on buyers and sellers.

Read more: https://www.nytimes.com/2024/05/12/arts/design/will-auctions-revive-art-market.html

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Art Market

Art Market Seeks Its Footing After Stumbling Sales and a Hack at Christie’s

Published

on

Source: The Newyork Times

Estimates are still soaring past the $20 million mark and canvases still bear the signatures of dependable ringers like Warhol, Basquiat and Picasso. But there is a shadow looming over the spring auction season that begins Monday.

A cyberattack at Christie’s brought down the company’s website on Thursday, and as of Sunday morning, Christie’s had not yet regained control of it. On Sunday evening, in his first public statement since the cyberattack, Guillaume Cerutti, the chief executive of Christie’s, confirmed that eight auctions would proceed as scheduled, with bidding in person and by phone (the rare watches sale has been postponed until May 14). A place-holder website was set up allowing access to the digital catalogs, but did not allow online bidding. With the site down and questions still unanswered about the fate of confidential data, analysts are uncertain about the impact on buyers and sellers.

Read more: https://www.nytimes.com/2024/05/12/arts/design/will-auctions-revive-art-market.html

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