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American Collectors Rarely Sell Prized Works Once Purchased

December 13th, 2017

Christie's, via NY postA new study finds that few American art collectors sell their works once they have purchased them, the New York Post reports. “Collectors don’t apply the same principles to buying art that they would to a typical investment portfolio of stocks and bonds,” says John Mathews, head of private wealth management and ultra-high net worth at UBS Americas. “It is important, however, to institute management structures to ensure their legacy remains protected, correctly valued and insured.”
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Getty Museum Survives Brutal California Wildfires

December 13th, 2017

Getty, via ReutersThe Getty has survived a week of chaotic wildfires, keeping its collection intact while flames raged around the museum by wetting the surrounding hills with water and closing off all air intake valves. “By putting all these bells and whistles in, we are able to wet down our hillsides, close intake valves and keep smoke and debris out,” says Linda Somerville, assistant director of insurance and risk management for the J. Paul Getty Trust.
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The Frick Collection Acquires First Work in 30 Years

December 13th, 2017

François-Pascal-Simon Gérard, via ArtforumThe Frick Collection has acquired its first work since 1991, a 7-feet-tall portrait of Prince Camillo Borghese by François-Pascal-Simon Gérard, Artforum reports. “The last opportunity the Frick had to purchase a major French School painting was nearly thirty years ago, with the acquisition of [Jean-Antoine] Watteau’s Portal of Valenciennes,” director Ian Wardropper says. “Today, it is deeply rewarding to have the rare opportunity to bring to the museum such an important work as this one, a historic portrait we feel would have compelled Henry Clay Frick. While the portrait has been shown in Rome, it has never been seen publicly in America.”


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