AO Art Observed™

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…)

A Fabergé silver via Sotheby’s

Sotheby’s two-day sale of Russian Art from the 19th and 20th century in New York totaled $46,449,401. The two-day auction (April 15 & 16) had very good indicators for a big sucess. The positive result demonstrates that rich Russians and Ukrainians are willing to pay top dollar for artworks of their country. About 69% of the 191 pre-World War II lots were sold and six paintings fetched more than $1 million each. Most buyers were Russian, Ukrainians, as well as U.S.

Russian Art via Sotheby’s [Rian]
Auctions at Sotheby’s [Bloomberg]
Sotheby’s [Sotheby's]
Auction’s record at Sotheby’s [Rian]

(more…)

‘The Battle of Trafalgar, as Seen from the Mizen Starboard Shrouds of the Victory,’

J.M.W. Turner, 1806-8, via Tate

Tate sends 100 Turners to Moscow despite frigid diplomatic relations [ArtForum]
Update: French art market eclipsed by China [Financial Times]
Jasper Johns: Most successful artist ever? [New York Sun]
Russian artist Anna Mikhalchuk disapeared in Berlin [Artdaily]
View of Olafur Eliasson sculpture in Munich [contemporist via C-Monster]
Update: Interview of Whitney chief curator on Biennial’s process [Wall Street Journal]
Warhol’s Upper East Side townhouse for $5.99M  [New York Times]

A piece offered at the auction via Phillips de Pury & Company

A major sale of Russian contemporary artworks will be sold in London on February 28 by Phillips de Pury & Company. The auction represents works largely of ‘unofficial artists’ of the Soviet period. The sale will benefit children with AIDS.

Phillips de Pury
Phillips de Pury, video of the auction collection [Phillips de Pury]
Auctions in London [New York Sun]

(more…)

Yayoi Kusama via T-Magazine

An interview with “dot” artist,Yayoi Kusama [T Magazine]
Louis Vuitton’s boutique controversy at Brooklyn’s Murakami Show [Arts Journal]
On “looted” Russian & French Paintings at Royal Academy of Art [NY Times]
Update: Critique of Jasper John’s recent show [Financial Times]
Wealthy eclipsing public funding for commissioning new works? [Financial Times]

Tagged Murakami Billboard via Boing Boing

Murakami Billboard in Los Angeles tagged [Art Fag City] and subsequently kept by Murakami [Boing Boing]
Russian Art Prices continue to grow [FT]
London Auctions buoyed by Expressionists [NYSun]
Detailed Summary of LACMA and Eli Broad Controversy [NYT]
NYC Evening Museum Party Schedule [NYT]
Gagosian maintains Schnabel Oscar plans despite writers strike [NY Observer]
Proenza Schouler inspirated by Donald Judd on MARFA, Texas trip [Style]
Richter’s “Zwei Liebespaare” sells for £7.3M, exceeds expectations [Christies]
Art forced out of Britain by Tax Laws: 40% of work’s value [Times Online UK]
Auction houses are increasingly financiers versus exchange agents[Economist]

Royal Academy of Art via The Guardian

After months of litigations and negotiations, the French and Russian masterpieces have arrived at the Royal Academy of Arts in London. Russian officials canceled the exhibit around Christmas due to their the threat of seizure. Despite the this hurdle, the 120 French and Russian pieces finally arrived in at the Royal Academy. This is one of the largest Russian loans to England in history.

More pictures below….

(more…)

Schandra Singh’s Lazy River via the Saatchi Gallery

Indian Art at Saatchi in London [The Saatchi Gallery]
Hedging with Art in Uncertain Markets [The Wall Street Journal]
Most Hyped Art Sales of 2007 [Bornrich.org]
UK gets the Go Ahead from Russia’s Royal Academy of Art [BBC]

Eli Broad via Forbes

Eli Broad Renegs on LACMA [New York Times]
On Russian to London Capital Flows to Contemporary Art [Financial Times]
On Bonhams First Middle Eastern Art Auction [Bloomberg]
2007 Review of Bidding Prices at Art Auction [Financial Times]
The Nahmad’s Trade - Art as a Security [Forbes]