The Art News published its annual list of the Top 200 Collectors this week, featuring short profiles on the collectors on the list this year, including Roman Abramovich, Agnes Gund, Paul Allen, and Leonardo DiCaprio.   (more…)

The Art Newspaper notes that over one third of collectors in the top 20 of the Art News Top 200 Collectors List have opened museums or foundations to manage their collections, counting Bernard Arnault, Peter Brant and Eli Broad among them. (more…)

The Economist reviews the touring exhibition of the M+ Museum collection, before the Hong Kong museum opens its doors in 2019, and profiles some of the most important contributors to the emergence of Chinese contemporary art worldwide, including businessman and diplomat Uli Sigg, and Guy Ullens, founder of the Ullens Centre for Contemporary Art.  “The view was that art and culture were enshrined in the past—that Chinese art was ‘something ancient’,” says Edmund Capon, who served as head of the Art Gallery of New South Wales. (more…)

An article in Barron’s this week notes the number of fake artworks in the marketplace today, and precautions collectors may take to prevent acquiring such works, including a set time frame for independent evaluation of a work before money changes hands.  “It’s an effective way to assess the good faith of the gallery or dealer,” says James Martin, a trusted researcher who worked for years researching and evaluating claims of faked art. “And if they won’t agree to that, you have to scratch your head and ask why.” (more…)

The Financial Times charts the ambitious efforts and long time frame for bringing an artist’s Catalog Raisonné to fruition, the effects this effort can often have on an artist’s market, and the resulting disputes over authenticity of works that may occur as a result.  “The authentication of individual works clearly belongs in the purview of the individual author or foundation,” says Deborah Aaronson, Phaidon’s group publisher, who just published the final volume in Andy Warhol’s Catalog Raisonné. “Authentication is clearly a huge issue with Warhol, so it’s not our policy to get caught up with those things.” (more…)

Richard Prince, Original (Installation View)

Richard Prince’s Original series is currently the subject of a new exhibition at Gagosian Gallery, nestled at the gallery’s Upper East Side bookstore showroom, and using Prince’s ‘arrangements’ of soft-core adult novels with artworks created for their covers, showing the next step in the artist’s fascination with collecting, ownership and presentation.  An ardent, perhaps even obsessive collector himself, Prince often mines and unfolds worn and sometimes clandestine images, not only from vintage pulps, which serve for the selection here, but also from copies of influential literary pieces, a pattern the artist has studied throughout his career of media appropriations.  A devoted member of a group of artists who started experimenting with appropriation in the ‘70’s, Prince usually employs minimal alteration to his subject matter; rearranging, editing and sometimes even rephotographing what already exists. (more…)

A rare Bernini sculpture that many historians had thought lost or destroyed has been acquired by the Getty Museum.  The marble bust of Pope Paul V will “become one of a handful of the most important sculptures in the Getty’s collection, no question,” says Director Timothy Potts. (more…)

As the Broad Foundation prepares to open its Los Angeles Museum, its founders are on a major buying spree, buying about one work per week to bulk up its collection.  The museum already holds the world’s largest collection of works by Cindy Sherman, and is noted as having more Roy Lichtenstein works than anyone else outside the artist’s own foundation.   (more…)

Artist Bernar Venet’s Venet Foundation and Museum in Le Muy, France, is the subject of a New York Times profile this week, documenting the artist’s impressive collection of major American artists, including Donald Judd and Sol LeWitt, which the artist often secured through barters or purchases on “friend rates.”  “Our works had no commercial value,” Mr. Venet says of the works he often traded his own pieces for. “We produced more than we sold.” (more…)

Following the example of collectors seeking tax breaks for their donation of art works to museums, artists themselves are seeking more equitable tax treatment for donating works.  While collectors currently can claim fair market value for the works they donate, artists themselves can only write off the cost of materials.  “It seems to me there is a discrepancy in treatment there”, says Philippe Vergne, director of MOCA. “What’s extraordinary is that artists keep giving.”  (more…)

MoMA has acquired several hundred photographs by artist August Sander from his series “People of the Twentieth Century,” the New York Times reports.  “His ambition is nothing less than to use photography to describe the people of the 20th century,” says Sarah Hermanson Meister, a MoMA photography curator.  “He is doing this through the German people, but it’s not limited in its intention to that.” (more…)

Crystal Bridges Art Museum in Arkansas is soon to announce a major series of acquisitions filling major holes in its collection of American art, the New York Times reports.  Pieces recently acquired include Jasper Johns’s Flag, which was purchased last fall for $36 million, the record-setting Georgia O’Keefe work Jimson Weed/White Flower No 1, as well as four works by Louise Bourgeois, estimated at a combined $35 million to $40 million.  “Bourgeois is really important to 20th century art and yet she has not received the entire due that she deserves,” says Margaret C. Conrads, museum director of curatorial affairs. (more…)

Boston Mayor Martin J. Walsh has stated his fears that more art is missing from the Boston Public Library collection following the disappearance of two prints valued at $600,000.  “I think the lack of security with these two prints and (more) … really, really concerns me greatly that there’s other things missing,” Walsh said in an appearance on Boston Herald Radio. (more…)

Al Jazeera looks at the massive Savitsky collection in Uzbekistan, where tens of thousands of Russian avant-garde masterpieces were salvaged and put on display by artist and founder Igor Savitsy following their censorship in their home country, including long forgotten works by Kandinsky, Chagall, and more.  “Without him, they would have been gone without a trace,” says Marinika Babanazarova, the current director of the Nukus Art Museum where his collection lies.  “These days, he is an authority figure, genius, but at the time they saw him as a weirdo, an absolute nutcase.” (more…)

Ode to Santos Dumont the last work completed by the late Chris Burden this year, has gone on view at LACMA, a helium-filled dirigible that circles inside the Resnick Pavilion, paying tribute to the balloon pilot who sailed around the Eiffel Tower in 1901.  “The idea that you try and fail and try and fail and have an imagination is very much Chris Burden the artist,” LACMA Director Michael Govan says.  “I think he saw in Santos Dumont a bit of himself having ideas and an imagination and tenacity and also that kind of joy of achievement.” (more…)

The court case over the Peggy Guggenheim Collection in Venice has begun, a lawsuit by the collector’s grandson to prevent the Guggenheim Foundation from showing any works not in the collection within the museum space, “alleging it breaks with the original arrangement that Peggy wanted and which should be respected after her death,” according to plaintiff Sandro Rumney. (more…)

Two of the most valuable works from the Cornelius Gurlitt collection, Woman with a Fan, (1923) by Henri Matisse, and Two Riders on a Beach (1901) by Max Liebermann, will be returned to the families of their original owners.  “Thankfully Gurlitt liked our Liebermann and kept it prized on his wall,” says Mr. Matteis, the lawyer representing David Toren, heir to the Liebermann work. (more…)

Another article on the Obama Presidency’s attack on 1031 “Like-Kind” Exchanges is on Bloomberg this week, focusing on collector Steven Edlis and his use of the loophole to acquire works he then donates.  “Stefan Edlis has been generous but many people who will take advantage of this will not be generous,”says critic Robert Storr, dean of the Yale University School of Art. (more…)

Outside the New Whitney Museum, via Art Observed

When the Whitney’s migration downtown was first announced, the anxiety and anticipation over its move away from the Breuer building on 75th and Madison was palpable, to say the least.  But as the initial reviews of the space begin to trickle in, the move downtown seems to have made all of the difference for one of the bastions of American fine arts.  Sure enough, the museum, which opens its Renzo Piano-designed doors to the public on May 1st, has created the conditions for something truly incredible in the Meatpacking District, an effortless, flowing viewing experience that manages to tie the museum’s impressive holdings together with the skylines and scenic views of its iconic hometown.

John Storr, via Art Observed (more…)

A new study on the use of digital technologies in American art museums is set for release this week, an in-depth study that looks at museum projects nationwide and their effectiveness in incorporating new immersive media.  The study covers 41 museum projects, from a “digital census” of French sculpture at Dallas’s Nasher Center to new iPad based wall labeling at the Worcester Art Museum in Massachusetts.   (more…)

The MAK Vienna has purchased artist Harm van den Dorpel’s Event Listeners screen-saver work with Bitcoins, making it the first museum in the world to use the digitally-centered currency.  The work will be shown at this year’s inaugural Vienna Biennale, running June 11 to October 4. (more…)

The Art Institute of Chicago has received a major donation of contemporary works this week, totaling 42 works valued at over $400 million, including iconic pieces from Andy Warhol, including an Elizabeth Taylor portrait and Mona Lisa Four Times, as well as several “Film Stills” from Cindy Sherman.  “It’s a powerful statement to have a collection of this international stature staying here in Chicago,” says Robert Levy, chairman of the Art Institute’s board. “It’s unbelievably exciting for the Art Institute, for the City of Chicago, for the entire art community of Chicago. It’s all good.” (more…)

As the Los Angeles County Museum of Art continues its 50th-anniversary acquisitions campaign, the museum announced over $200 million in new art received as “anniversary gifts” to the institution.  A number of the works go on view this week as part of the museum’s “50 for 50: Gifts on the Occasion of LACMA’s Anniversary” exhibition. (more…)

A new report released by fine art insurance company Hiscox finds that an increasing number of collectors, at least 75% of those surveyed, are viewing online art sales as an investment opportunity.  “I wonder whether this change in attitude is genuine,” says Robert Read, the head of fine art at Hiscox, “or whether it is a dot.com moment where people feel they are missing out if they don’t.”