ARTNews’ annual list of the world’s top art collectors has been released, detailing the most prolific and high-spending patrons from around the world.  Among the top 10 are a number of recognizable names, including Eli Broad,  Steven A. Cohen, and François Pinault.  Also of note is a brief article stating the number of collectors willing to spend high dollar amounts for desired works. “I’d say the figure for those going over $20 million is about 150. There are about 100 who would go over $50 million.” Says Sotheby’s Executive Vice President Charles Moffett.   (more…)

Online auction site Paddle8 has moved to acquire a 3% share in art sales database and auction site Artnet.  The stake previously belonged to Redline Capital Management, which attempted a takeover of Artnet last year. “We see a lot of strength in Artnet, and feel that the two businesses are complementary,” says Paddle8 co-founder, Aditya Julka.  “Paddle8 will benefit from Artnet’s price database and listings business, contributing to a winning formula in leading the online auction space. This is not a takeover but rather a move towards collaboration in the future.”  (more…)

26 Years after his death, the art market for American painter Jean-Michel Basquiat is at an all-time high, with the artist’s works totaling over $161 million in sales last year.  According to online art database ArtNet’s index generation system, his remarkable growth puts him in the top 10 artists by volume sold in 2012, and gives his work a sell through rate of 85%. (more…)