Klaus Albrecht Schröder, the director of Vienna’s Albertina Museum, has publicly called for a time limit Nazi-loot restitution claims for work held in public collections  “The international community should decide on a sensible time frame of 20 or 30 years from now,” Schröder argues. “If we don’t set a time limit of around 100 years after the end of the Second World War, then we should ask ourselves why claims regarding crimes committed during the First World War should not still be valid; why we don’t argue anymore about the consequences of the 1870-1871 Franco-Prussian war, and why we don’t claim restitution of works of art that have been stolen during previous wars?” (more…)

A Detroit Judge has issued a decision preventing city creditors from removing art from the walls of the Detroit Institute of Arts for valuation outside the museum.  “The record fails to justify this extraordinary relief,” stated Judge Steven Rhodes after hearing arguments.

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Proxy Adviser Glass, Lewis and Co. has backed Sotheby’s Board Nominations in the wake of Daniel Loeb’s continued pressure on the company.  “In this case, we believe the Dissident has identified certain areas of concern,” the company says in a statement, “but ultimately has fallen short of making a compelling case that additional changes in the boardroom are warranted at this time beyond those already implemented by the Company.” (more…)

Another letter from Third Point’s Daniel Loeb attacks Sotheby’s for failing to acknowledge the strength of his choices for board seats at the auction house.  “We are convinced that having an owner’s perspective in the boardroom yields better results, that this board is in dire need of fresh insights, and that our candidates are more qualified than the company’s emissaries we are seeking to replace,” Loeb writes. (more…)

A recent article in the Financial Times traces the past 40 years of the art market in conjunction with the term “the art world,” and questions the state of the market as the increased focus on art as an investment opportunity continues to drive blue-chip artists to ever-higher sales records. (more…)

The Guggenheim Museum seems to have won its dispute with Paul McCarthy and Mike Bouchet. The artists’ Bilbao photo installation (featuring a photo of the museum as a battleship) has been removed removed after the Guggenheim stated its disapproval.  The Guggenheim has stated that it “respects the artists’ rights and it likewise protects its own image rights.” (more…)

Bond insurer Syncora, one of the creditors in Detroit’s bankruptcy case, has filed a massive subpoena against the Detroit Intitute of Arts, calling for a selection of documents including ownership records, documents regarding donations, and tax records, among other records.  The move is the latest in an increasingly fraught debate over whether credtiors will push DIA to sell off its works for Detroit’s debts. (more…)

The Museum of Contemporary Art has announced that artists Catherine Opie, John Baldessari and Barbara Kruger are all returning to their positions on the museum’s Board of Trustees.  The artists had previously left their posts over friction with then-director Jeffrey Deitch’s vision for MOCA.  Painter Mark Grotjahn has also been elected to a fourth artist seat on the board, previously occupied by Ed Ruscha.  “I’m very excited about the prospects for MOCA with Philippe leading us and I want to be supportive,” John Baldessari said in a statement. (more…)

A group of nine collectors have filed a lawsuit against the Keith Haring Foundation, claiming that the organization’s judgement of works in their collections has “wrongfully destroyed” their value.  The lawsuit, which seeks $40 million in damages, has been flatly rejected by the foundation.  Its lawyer, Michael Ward Stout, claims, “We believe that the allegations are not supportable, and we will address them going forward.”  (more…)

Actor George Clooney has chimed in on the growing debates over repatriation, calling for Great Britain to return the Elgin Marbles to Greece, and subsequently drawing strong response from British citizens and officials.  “He’s an American,” says John Whittingdale, the chairman of the Culture, Media and Sport Committee.  “I suspect he doesn’t know why it is that Britain came to acquire the Elgin Marbles. There’s a very strong view in this country that they should stay in the UK.” (more…)

The Cooper Union Board of Trustees has issued a statement that the university will move forward with its plan to begin charging admission, with an attempt to continually provide additional scholarship funds as needed. “The actions taken by the board today and in April are intended to provide The Cooper Union with a financial model that will sustain it into the future, while ensuring both the quality of the academic program and the institution’s ability to enroll students entirely on the basis of their aptitude and achievement and to meet their full financial need,” the school said in a statement. (more…)

The Tate Gallery is the subject of controversy, after including work by one of its trustees, the Turner Prize-winning artist Tomma Abts.  “This is all very wrong. There are tens of thousands of artists in this country who would give anything to have their work at the Tate. It seems blatant favouritism that works by their own trustees should be repeatedly selected,” said artist Charles Thompson.  “And it goes without saying that having a painting exhibited at a prestigious national gallery can only enhance the artist’s earning power.” (more…)

The long-disputed valuation of the Detroit Institute of Arts’ collection has finally been completed, with a final valuation that falls somewhere between $454 million to $867 million.  This valuation factors in a Van Gogh self-portrait valued at $150 million on its own, as well as a Bruegel the Elder painting that could sell for anywhere between $100 and $200 million.  (more…)

The ongoing Istanbul Biennial has raised the ire of artists and activists over its tactical departure from a number of culturally and politically contested areas, following the massive protests this summer in Gezi Park.  Originally intended to meet the waves of gentrification currently sweeping through the city, the fair has moved its exhibitions to some of the city’s most established galleries.  “You lose time when you send things by email and try to get permission. It was the opposite during Gezi. People were improvising; they were very fast and very efficient at organising collectively. The biennial could learn from that.”   Says Artist Ahmet Ögüt, who runs the Tate-funded art school for refugees, Silent University. (more…)

The Institute for Contemporary Art in London is preparing to release “Art Rules,” an online platform similar to Twitter, which will allow users to engage in short-form dialogues over contemporary art, using the site’s 100-character limit to voice their opinions on artists, theories and the contemporary art world.  The site, which launches August 21st, has already published a number of “rules,” by artists, writers and curators which users will be welcome to respond to, including Jeremy Deller’s encouragement to “throw away the rulebook.”  (more…)

The ongoing debate between the Museum Tower and the Nasher Sculpture Center has taken a new turn, with the owners of the 42-story residential building reportedly using fake social media accounts to sway public opinion.  The fake social media accounts are just the latest exchange in this heated debate, particularly given the tower’s imposition on the atmosphere and lighting of the museum.  Several works have shown increased damage due to the light from the tower’s reflective surface, and the museum’s public gardens have also suffered.  “For almost two years…we have watched with growing concern as Museum Tower threatens our neighborhood, spreading misinformation rather than working earnestly toward solving the problems it has created.”  Dallas Museum of Art director Maxwell Anderson and Catherine Cuellar, executive director of the Dallas Arts District Foundation, said in an op-ed published last month. (more…)

A museum show intended to heal relations between the United States and Italy over claims of looted work has encountered turbulence, after Sicilian officials have refused to ship several works over concerns over tourism.  When asked about the region’s refusal to cooperate, Sicilian official Mariarita Sgarlata noted:  “How would an American tourist react who, trusting his Frommer’s travel guide,  has gone out of his way to visit the island of Mozia to admire this work of art in its original setting, only to discover that the statue is in Tokyo or St. Petersburg?” (more…)

Two of Russia’s most prominent museums, the Hermitage Museum and the Pushkin Museum, are currently embroiled in a dispute over the collections of Ivan Morozov and Sergei Shchukin, which had been distributed between two institutions when Stalin shut down the State Museum in 1948.  The debate was brought to light this year, when the Pushkin’s director, Irina Antonova, appealed to President Vladimir Putin on live television, asking him to recreate the institution in Moscow, raising ire over the rightful home of the works, which include pieces by Picasso and Matisse.  “The expert advice seems to be all on the Hermitage side—but you never know,” says Geraldine Norman, an advisor at The Hermitage. (more…)

Following the week’s record-setting contemporary art auctions, CNBC analysts weighed in on the current setting of the contemporary art market, criticizing the easy classification of the market as a bubble set to burst, and noting the ongoing theme of art market commentary asserting a link between money laundering and the increasing speculation on the art market. (more…)