Global contemporary art events and news observed from New York City. Suggestion? Email us.

AO Auction Recap – New York: Christie’s Impressionist and Modern Evening Sale, May 15th, 2017

Tuesday, May 16th, 2017

Contantin Brancusi, La Muse Endormie (1913), via Christie's
Contantin Brancusi, La Muse Endormie (1913), via Christie’s

The first auction of the week has come and gone in New York, as Christie’s notched an impressive outing for its Impressionist and Modern Evening Sale, confirming expectations of a solid return of buying interest in the secondary market.   Considering the past several outings for the auction houses in London and New York, where only a handful of buyers were reportedly keeping the market afloat, this week’s sales hit a different note entirely, with ample phone bids that saw one major auction record fall with Constantin Brancusi’s La Muse Endormie demolishing expectations at over $57 million, and marquee lots performing quite well over the course of the evening.  (more…)

AO Auction Recap – New York: Christie’s Impressionist and Modern Evening Sale, November 12th, 2015

Friday, November 13th, 2015

René Magritte's Miroir Universel sells over estimate, via Rae Wang for Art Observed
René Magritte’s Miroir Universel sells over estimate for$6,661,000, via Rae Wang for Art Observed

The November auctions are over, as Christie’s capped its final major evening sale of the year to strong results, with 13 lots going unsold out of the 62 offered, tallying a final of $145,545,000. (more…)

AO Auction Results – London: Impressionist and Modern Art Evening Sale at Sotheby’s, Tuesday June 19, 2012

Wednesday, June 20th, 2012


Marc Chagall, Noce et Musique (1939) which sold for £2.5 million

Last night at Sotheby’s marked the opening night of three straight weeks of art auctions in London. The evening achieved a few exceptional and even record breaking sales, yet it did not compare with the astonishing May auctions held previously this year in New York. Out of the 48 lots offered only 33 of them sold – a sell through rate of 69%. Still, Sotheby’s total sales for the night reached £75 million – above their low estimate of £73 million.

(more…)

AO Newslink

Tuesday, June 5th, 2012

‬The Tate has revealed its 2013 program, which will include exhibitions of LS Lowry at Tate Britain, Marc Chagall in Liverpool, and a major Roy Lichtenstein at retrospective at The Tate Modern as well as shows of Gary Hume and Paul Klee.

(more…)

AO On Site Auction Results – New York: Impressionist and Modern Evening Sale at Christie’s, May 1, 2012

Wednesday, May 2nd, 2012


Paul Cezanne, Jouer de cartes (1892–96). Image courtesy of Christie’s.

Last night’s Impressionist and Modern Art Evening Sale at Christie’s began this season’s auctions in New York. Christie’s overall sales totaled $117 million—well over their low estimate of $90.5 million. According to Christie’s, they achieved a sell-through rate of 96% by value and 90% by lot. In a post-auction press conference, Christie’s Head of the Department, Brooke Lampley, said that the results were exactly what they had expected, given that they had tailored their sale to match what the market was looking for.


View of the Impressionist and Modern Art Evening Sale at Christie’s. Photo by Aubrey Roemer for Art Observed.

(more…)

AO OnSite – Philadelphia Museum of Art: Paris through the Window: Marc Chagall and his Circle, through July 10, 2011

Thursday, March 17th, 2011


Marc Chagall, “To My Betrothed” (1913), at the Philadelphia Museum of Art. All pictures by Art Observed.

Art Observed was at PMA’s newest show, a celebration of Marc Chagall and his Paris contemporaries. The show encompasses 70 works in various media, including paint, sculpture, and paper, by the emigré artists of Paris.  Here are masterpieces by Modigliani, Kisling, Lipchitz, and Soutine, all set against and borne of La Ruche, a jumble of art studios in this early 20th-century community. As he did with the museum’s gorgeous Picasso show last year, PMA curator Michael Taylor recreates an artists’ colony, a whiff of nostalgia threaded throughout its galleries.


Detail, Marc Chagall’s “Paris through the Window” (1913) at Philadelphia Museum of Art.

More images, story, and relevant links after the jump…

(more…)

AO Onsite Auction Results – London: Impressionist & Modern Sale at Sotheby’s London February 8, 2011 Brings in £68.8 Million ($111 million); Featured Picasso Sells for £25.2 million, Giacomettis Bought In

Tuesday, February 8th, 2011


Alberto Giacometti, Grand Buste de Diego Avec Bras, executed 1957, cast 1958 (est. £3.5–5 million, bought in), via Sothebys.com

Tuesday evening’s forty-two lot sale of Impressionist and Modern Art at Sotheby’s London brought in £68.8 million (or $111 million) for thirty-two lots sold. The auction house reports being “very pleased” with the total, which is the fourth highest ever in the department at the London location. The featured lot, Picasso’s La Lecture, exceeded its presale estimate after slow, thoughtful bidding by at least seven interested parties that increased in increments of £500,000. It sold to a telephone bidder for £25.2 million against a presale estimate of £12-18 million (estimates do not include the buyers premium, prices realized do). The real surprise, though, came when both Giacometti lots which carried the second and third highest presale estimates failed to sell. Bidding for an oil on canvas portrait of the artist’s brother ended at £2.7 million and a bronze sculpture of the same subject passed at £3.2 million.


The sale room at Sotheby’s London on Tuesday, via Art Observed

more story and images after the jump…

(more…)

AO On Site – Picasso’s Paris in Philadelphia and New York: “Picasso and the Avant-Garde in Paris” at the Philadelphia Museum of Art through April 25, 2010, and at the Guggenheim “Paris and the avant-garde: Modern Masters from the Guggenheim Collection” through May 12, 2010

Saturday, April 10th, 2010


At PMA, “Head of a Woman” (1937-38). Estate of Pablo Picasso / Artists Rights Society (ARS), New York.

AO visited the Philadelphia Museum of Art and the Solomon R. Guggenheim Museum in New York, which are both showing survey exhibitions of the avant-garde in Paris in the early twentieth century. “Picasso and the Avant-Garde in Paris,” at PMA, is an exhaustive display of thirty years of Picasso, from 1905 to 1945, following him through the development of Cubism and artist communities in Paris. The Guggenheim’s show is smaller and less concentrated on Picasso; it includes thirty works by Picasso, Léger, Chagall, Braque, and more, where the PMA’s 200-strong exhibition includes works by Picasso collaborators and contemporaries as they interact with his own.


At the Guggenheim, Pablo Picasso, “Mandolin and Guitar (Mandoline et guitare)” (1924). Oil with sand on canvas Solomon R. Guggenheim Museum, New York  Estate of Pablo Picasso/Artists Rights Society (ARS), New York

More images, story, and relevant links after the jump…

(more…)

Newslinks for Wednesday, March 4, 2009

Wednesday, March 4th, 2009


Damien Hirst’s skateboard decks for Supreme, via The Hundreds

Damien Hirst launches a new line of skate decks for Supreme [Hypebeast] plus a Glenn Brown interview with Supreme [Interview]
Turner prize winning British artist Steve McQueen debuts Hunger.
[W Magazine via C-Monster]


John Baldessari at Mies van der Rohe’s Haus Lange of 1928, in Krefeld, Germany, via Edward Lifson

John Baldessari transforms a Mies van der Rohe house [Edward Lifson]
Metropolitan Opera puts up two Chagalls as collateral for loan in the face of a shrunken endowment
[Crain’s]
Art In America launches its new website
[Art Fag City]


A model of Jeff Koons’s ‘Train’ to be built at Los Angeles County Museum of Art, via LACMA

LACMA moves forward with record $25 million sculpture by Jeff Koons [The Art Newspaper]
Gold Bars for a Chris Burden show at Gagosian held up in Stanford fraud case [Culture Monster]
A negative forecast for the recession’s impact on art [NewYorkMagazine]


Banksy in London, via Wooster Collective

New Banksy works appear in London [Wooster Collective]
A profile of the Guggenheim’s Richard Armstrong, a modest museum head compared to his controversial predecessor
[Wall Street Journal]


KAWS’s cover for the current issue of New York, via SuperTouch

KAWS designs New York Magazine’s cover for their ‘Best of New York 2009’ issue [SuperTouch]
Jackie Wullschlager looks at the exhibitions that have come about after Anthony d’Offay’s gift of his collection to Britain
[Financial Times]


Gang Gang Dance, via The Social Registry

Armory Show preview and party at MoMA featuring a performance by Gang Gang Dance [MoMA]
A profile of art collecting Mugrabi family [NY Times]
Second ever newspaper interview of Charles Saatchi
[London Times]


Jake and Dinos Chapman’s remade ‘Hell’ via The Guardian

Jonathan Jones on why the Chapman Brothers’ Hell deserves to be shown at the National Gallery [Guardian]
Munich gallery Andreas Grimm shutters NY location [Hintmag]
SANAA, architects of the New Museum, to design Serpentine Pavilion [Icon]


A rug made by Francis Bacon, via London Times

Rediscovered Francis Bacon rugs are up for auction at a relative pittance versus his canvases [London Times]
Alex Katz models for J. Crew [MediaBistro]
A trend of wealthy collectors building museums to open their collections to the public [Fortune]

AO Auction Results: Impressionist and Modern Art Auction, Tuesday February 3rd, Sotheby’s, London

Wednesday, February 4th, 2009


Petite Danseuse de Quatorze Ans (1879-1881) by Edgar Degas, sold for £13,257,250, ($18,993,194) above the high end of its range (£12,000,000 / $18,129,626). Image via Sotheby’s.

Following mixed results at last week’s Old Masters auctions, the art market was looking closely at Sotheby’s Impressionist and Modern Art evening sale for further clues on how the rest of the year might unfold.  The auction generated £32,564,300, selling 22 of 29 lots or 75.9% of what was offered.  Several records were set, and 40% of the lots exceeded the high end of expectations.  While there were some very notable successes, 67.7% of lots were sold by value, with the final result well below the pre-sale estimate range of £40,620,000-£55,680,000

The star of the night was indisputably the Petite Danseuse de Quatorze Ans, a sculpture by Edgar Degas previously owned by Sir John Madejski, a British sports entrepreneur and philanthropist,  news of its sale previously covered by Art Observed here. The sculpture was sold to an unnamed Asian collector for £13.25 million or almost $19 million. The final price was above the £12 million high end of its estimate range, setting a record for a Degas sculpture and ultimately becoming the top price of the night. Petite Danseuse, one of a series of 28 bronze and fabric sculptures made several years after the artist’s death in 1917, made a tidy profit for Madejski, who bought it for £5 million for it in 2004. “Petite danseuse de quatorze ans is the most important sculpture by Edgar Degas and it is undoubtedly one of the most iconic sculptures of the Impressionist period,” commented Helena Newman, Vice Chairman, Impressionist & Modern Art, Sotheby’s Worldwide. “The recordbreaking price achieved for this exceptional sculpture tonight is a testament to the strength of the market for rare works of exceptional quality.”

Another high value lot that sold above its expectations was Joan Miro’s Femmes et Oiseaux dans la Nuit, which sold for £2 million ($3 million). Bought by David Nahmad on behalf an anonymous telephone bidder, the painting sold for two times the high end of its range.

Auction results: Sotheby’s
Auction results: Artnet
Auction Record Price For Edgar Degas Sculpture Headlines Sotheby’s Sale Of Impressionist Art [ArtDaily]
Degas Sculpture Makes Record in First Art-Market Test of 2009 [Bloomberg]
Sotheby’s Sale Shows Reassuring Signs of Market Life [ArtInfo]

Previously on ArtObserved:
DEGAS’S ‘LITTLE DANCER’ STEPS OUT INTO THE MARKET [Jan 12]

(more…)

AO Auction Results: Sotheby’s New York Impressionist and Modern Art, despite select notable sales, overall results were poor

Thursday, November 6th, 2008


Kazimir Malevich’s 1916 painting Suprematist Composition sold for $60 million via International Herald Tribune.

The results of the Sotheby’s New York Impressionist and Modern Art auction Monday night were overall dissapointing, despite some noteworthy lot results of works by Malevich, Degas and Munch. Fears of an art-market meltdown have been fueled by recent lukewarm results at London’s Frieze art fair and the abrupt pulling from the auction of the 1909 Picasso that was expected to sell for over $30 million. While the Sotheby’s evening total on Monday stood at 45 works sold for $223.8 million, it was well below its initial estimates of $337 million to $476 million, which were set over the summer before the financial crisis. The sale was the lowest for an Impressionist evening sale at Sotheby’s since May 2001. David Norman, an executive vice-president at Sotheby’s was quoted by the Guardian as saying “Anyone would expect people to be more circumspect in this environment. We’re selling in a very uncertain world.”


Auction Season Opens With Little Enthusiasm
[NY Times]
Art Market `Corrects’ as Lots Go Unsold at Sotheby’s [Bloomberg]
Three Big Lots Pace Respectable Showing at Sotheby’s [ArtInfo]
New York sales hit record highs amid signs that the art market is dropping
[Guardian UK]
Work by Kazimir Malevich sold for record $60 million
[International Herald Tribune]
Kazimir Malevich’s Suprematist Composition Sets Record at Sotheby’s Sale
[Art Daily]
Opening of Fall Art-Auction Season Marked by Crappy Sales, Great Deals [NYMag]
Flat result at NY season’s first art auction [Reuters]
Munch artwork fetches record $38m [BBC]

more results and pictures after the jump…

(more…)

Newslinks for Sunday October 5th, 2008

Saturday, October 4th, 2008


–>
A London building-side JR via Woostercollective

Some large works mark JR’s return to London from NYC (previously covered by AO here) for a solo show at Lazarides [Woostercollective]
–>
The Tate will brand a cruise ship line focused on art [GuardianUK]
–>
Jackie Wullschlager’s biography of Marc Chagall reviewed
[The Economist]
–>
Focusing on the sculptures of Pablo Picasso [Wall Street Journal]
–>
Due to gambling regulatory concerns, Lazarides cancels ‘art raffle’ meant to coincide with Frieze [ArtInfo]
–>
Tar magazine (anagram of art) debuts with a cover by Julian Schnabel [Mediabisto]
–>
The Chapman Brothers produce a fuzzy backdrop for Stella McCartney’s spring/summer show in Paris [Independent]

LA Police offer a $200,000 reward for stolen paintings in Encino, CA

Thursday, September 18th, 2008


Cubist Still Life by Arshile Gorky, one of the paintings stolen from the Los Angeles’s couples home via LA Times

An unidentified elderly couple of Enico, Los Angeles were at home preoccupied while a thief, or possible thieves, entered their home and stole an art collection worth millions of dollars. At least a dozen paintings were stolen including works by Marc Chagall, Hans Hofmann, Chaim Soutine, Arshile Gorky, Emil Nolde, Lyonel Feininger, Diego Rivera, and Kees van Dongen. Each stolen work was worth at least six figures, some of them closer to $1 million. While the theft occurred in August police waited until September to publicly announce the crime and the $200,000 reward for information leading to the return of the paintings. The couple remains unidentified by police as does the source of the reward money. It remains unclear if was a single thief, or a group. Police are also uncertain if it was a common thief-likely to pawn off the paintings immediately, or a more sophisticated thief with ties to collectors or criminal gangs specializing in pilfered artwork. Art theft is by FBI estimates is a $6-billion-a-year global industry.

Swift L.A. art heist claims couple’s collection worth millions [LA Times]
A Dozen Artworks Stolen from L.A. Collectors’ Home [ArtInfo]
Find stolen paintings, collect $200,000 [Two Coats of Paint]

(more…)

Newslinks for Friday September 12, 2008

Friday, September 12th, 2008


–>
Lucian Freud’s rarely-seen, unfinished Portrait of Francis Bacon via Artdaily

Lucian Freud’s unfinished Francis Bacon portrait to be auctioned by Christie’s London in October [Art Daily]
–>
MoMA purchases Chinese contemporary art from private collection [Art Newspaper]
–>
Osaka museum pulls three Chagall’s after authenticity is questioned [Art Info]
–>
Jeff Koons “Man of Trust documentary” sold in
€2,500 limited edition kangaroo mirror boxes at Colette [World’s Best Ever]
–>
On the vulnerability of the global art market “which has risen so very high on little more than PR and salesmanship” [Financial Times]

Detroit Metro Airport Serves Fewer Fliers in 2002.

Detroit Free Press (Detroit, MI) September 21, 2002 Byline: Daniel G. Fricker Sep. 21–The number of passengers at Detroit Metro Airport was down 9.2 percent through the first seven months of this year, mirroring a nationwide trend that shows millions of passengers have not returned to flying since the Sept. 11 attacks.

International passengers at Metro were down a whopping 31.6 percent.

More than 18.7 million passengers used Metro through the end of July, or 1.9 million fewer than during the same period in 2001, according to airport statistics released this week.

The airport’s major carrier, Northwest Airlines, experienced an 8.9-percent decrease in passengers at Metro. Northwest and its Airlink commuter service carry 76.6 percent of the airport’s passengers.

The decreases are close to the 10.7-percent year-to-year drop in passengers on the nation’s top 15 airlines through August of this year, according to the Air Transport Association of America, an airline industry trade group based in Washington, D.C. see here detroit metro airport

The numbers of passengers on the nation’s airlines plunged 36 percent year-to-year in September 2001 as a result of the economic slowdown and the terrorist attacks.

Passenger numbers rebounded during the winter and spring, but the recovery stalled last spring, ATA officials say.

Nonetheless, Metro spokesman Len Singer said airport officials are optimistic about Metro’s passenger count. “We’re encouraged that the numbers are steadily increasing, but obviously we’d like to see that happen even faster,” he said Friday. web site detroit metro airport

Singer pointed to Metro’s passenger numbers for June and July. They were down 6.9 percent and 6.3 percent respectively compared to the same months in 2001.

But he declined to predict when Metro’s passenger traffic could rebound to numbers seen before the attacks.

“You can’t discount the factors of the economy,” Singer said. “Until the economy bounces back, I don’t think we’ll see a complete bounce back in the industry either.” Northwest Airlines declined to comment on when its passenger numbers at Metro could recover.

The number of passengers on the nation’s airlines is expected to dip again in 2003, by 1.5 percent compared to this year, said Mike Boyd, president of the Boyd Group, an aviation consulting company in Evergreen, Colo.

“The nation doesn’t pull out of the dive until the end of 2003,” he said. “There is no way it can. You have all the major airlines taking capacity out at the end of this year. What that means is we’re going to have less seats, less people.” But Detroit is expected to buck the national trend. In 2003, the number of passengers at Metro is expected to grow year-to-year by up to 2 percent, Boyd said. The reasons are the 97-gate midfield terminal, which opened Feb. 24, and the growth of Spirit Airlines, a discount carrier that is Metro’s second-largest airline.

But Metro is not expected to rebound to passenger numbers recorded in 2000 — the last year before the economic slowdown — until 2005.

“That has to do more with airlines’ capacity than there being anything wrong with Detroit,” Boyd said.

Newslinks: Saturday August 16th, 2008

Saturday, August 16th, 2008

Ryan McGinley shooting for Wrangler Jeans via Radar

Ryan McGinley is making ads for Wrangler jeans (running only in Europe) [Radar via Artfagcity]
–>
Sotheby’s consolidates Asian art auctions from New York to Hong Kong [Bloomberg]
–>
Taryn Simon commissioned by Nike to shoot the Men’s US Olympic Basketball team [SuperTouch]
–>
Stained-glass cathedral window by Marc Chagall is shattered by vandals in France [NYTimes]
–>
The global effects of four major types of art crimes: vandalism, theft, looting and forgery [Art Info]

Child-support rules get major changes: Will aid recipients be more willing to identify fathers?(Culture, Et Cetera)

The Washington Times (Washington, DC) August 23, 1996 | Wetzstein, Cheryl In 1994, nearly 400,000 children on welfare learned who their fathers are through a paternity establishment process. Another 2.3 million children on welfare are still waiting, according to the Office of Child Support Enforcement.

The new welfare bill’s child-support enforcement section says states can step up efforts to get “cooperation” about fathers from mothers seeking welfare – and reduce benefits to mothers deemed “noncooperative.” Marilyn Ray Smith, a child-support enforcement official in Massachusetts, believes the new time limits in welfare reform will lead to more paternity establishments.

“Child support is the true safety net when you have time-limited welfare benefits,” she said. “If you are only going to have welfare for two years at a time or five years over the course of your life, your incentives for making sure the father is held responsible for supporting the child are a lot greater.” But it’s impossible to know how single mothers, many of whom have been ambivalent about seeking formal child-support orders, will respond to the reforms.

In 1994, two researchers from the Nelson A. Rockefeller Institute of Government in Albany, N.Y., met with three groups of welfare mothers. Some mothers said:

* Although they told officials where the father was, no payments were collected. “I’m doing everything I can now to identify the father, but it doesn’t make a difference. They can’t pick him up,” said one mother.

* They feared losing custody to the father: “One mother got a father court-ordered to pay child support. . . . Then he got custody of [the daughter] just because he has a good job and she’s on welfare.” * The child-support system might interfere in the father-child relationship. “You don’t want to ruin that friendship. . . . You have to raise that child together,” said one mother.

* Child support was a hassle for everyone: “I have a girlfriend who has been working with the system for five years trying to get child support,” said one mother. But payments weren’t collected because the father would “get angry and quit his job and go somewhere else.” “The thing is,” said another mother, “I want him out of my life and if I have to spend every day of my life trying to make sure that somebody tracks him down – this tears me apart. I need to let go of this and get on with my life.” The new reform will also end a policy called the “$50 pass-through.” In welfare cases, states keep court-ordered child-support payments. Often it “passed through” $50 of the support it collected each month to the welfare mother. Now, states will have the option of giving the full amount to the family. childsupportmd.net child support md

In the past, the $50 pass-through appeared to discourage paternity establishment and encourage cheating. Typically, a mother would deliberately mislead officials about who her baby’s father was, get on welfare, and then take secret payments – often more than $50 – from him or his family to augment her welfare benefits. go to website child support md

Some child-support experts insist there’s no evidence that this cheating was common; Mrs. Smith said she thought the practice was “pretty widespread.” ****BOX A NEW RULES FOR CHILD- SUPPORT ENFORCEMENT Under the new child-support enforcement section of the just-signed welfare-reform bill, states can:

Cut welfare benefits by 25 percent for single women (with few exceptions) who do not establish paternity for their children and assign child-support collection rights to the state.

Use streamlined procedures to establish paternity, including genetic testing.

Seek child-support payments from grandparents whose minor children go on welfare.

Get federal funding to start up interstate computer systems to track court orders, payment history, addresses and employment of persons who owe child support.

Deduct overdue child-support payments from paychecks, including those of government workers and military personnel.

Force unemployed persons with child-support arrears to join a state work program.

Report child-support debts to credit bureaus.

Put liens on property owned by persons with child-support debts.

Check bank accounts for assets owned by persons with child-support debts.

Withhold, suspend or restrict driver’s, professional and recreational licenses of persons with child-support debts.

Deny, restrict or revoke passports of persons who owe more than $5,000 in child support.

Receive grants for programs to improve mediation, counseling and visitation enforcement.

Source: Personal Responsibility and Work Opportunity Reconciliation Act of 1996.

****BOX B CHILD-SUPPORT SNAPSHOT In 1994, according to the federal Office of Child Support Enforcement, state child-support agencies:

Worked on 18.6 million cases (including families on welfare or in the foster care system, non-welfare families and arrearage-only cases).

Made a collection in 3.4 million cases (18.3 percent).

Established 590,819 paternities (including 396,877 for children on welfare).

Located 4.1 million absent parents.

Collected nearly $9.9 billion ($7.3 billion from non-welfare cases).

Collected $7.6 billion (54 percent) of $14.1 billion due in current support.

Collected $2.1 billion (7 percent) of $30.8 billion in overdue support.

Collected 55 percent of payments through wage withholding.

Spent $2.6 billion on child-support operations (including federal spending).

Collected $3.86 for every $1 spent on child-support enforcement.

Source: “Child Support Enforcement Nineteenth Annual Report to Congress,” Office of Child Support Enforcement, Department of Health and Human Services Wetzstein, Cheryl

$1.6 billion on sale at Moscow World Fine Art Fair

Thursday, May 29th, 2008

Image via Art Daily

The fifth annual Moscow World Fine Art Fair has drawn attention and the bank accounts of buyers from around the world. Travelers from Kyoto, New York, and Paris came to take advantage of Russia’s new exploding luxury goods market. There are 56 fine and decorative art vendors and 20 jewelry vendors who enjoyed brisk sales. There is €1 billion euros ( $1.6 billion dollars) worth of art at the fair. A highlight of the fair is Spanish artist José-María Cano’s oversized Wall Street Journal style illustrations of leading Russian personalities. The fair runs from May 28 – June 2nd.

Moscow World Fine Art Fair
Moscow Fair Brings Luxuries to Nouveau Riche [Art Info]
International Dealers Have $1.6 Billion of Art on Offer at the Moscow World Fine Art Fair [Art Daily]
A new Powerhouse for Moscow’s new rich [NY Sun]

(more…)