Oscar Murillo, A Mercantile Novel Candy Bars, via Art Observed

The art world has been good to Oscar Murillo over the past year.  Following a series of high auction sales and eager buyers, the 27-year old was quickly signed to David Zwirner, and has continued to command impressive press attention and plaudits for his paintings and installation work.

Oscar Murillo with the Colombina Employees, via Art Observed (more…)

The New York Times takes another look this week at new arrests in the Knoedler Gallery forgery case, and notes the number of participants, complicit or not, to perpetuate a major art fraud.  “If you asked me what the biggest factors were behind this thing succeeding so long,” says art historian Jack Flam, “first is that everybody was afraid to be sued. People give credibility to works unwittingly by keeping quiet.” (more…)

Following Daniel Loeb’s defeat in court last week, Sotheby’s and his company Third Point LLC  seem to have reached an agreement, with the auction house agreeing to add his three nominees to an expanded, 15-person board of directors, while allowing him a 15%  stake in the company.  “This agreement ensures that our focus is on the business and that we will benefit from five fresh voices and viewpoints,” says Sotheby’s head Bill Ruprecht. (more…)

The New York Times notes an increased in interest in the art market this season from investors and speculators, leading to committed buyers for nearly half the works up for sale at both Sotheby’s and Christie’s.  The article also notes an increasing trend in speculating on guaranteed sales, as collectors and investors promise the estimate in an attempt to either go home with the work or make sizable profits off fervent bidding.  “It’s a win-win situation,” says Abdallah Chatila, a collector who is guaranteeing two works at Christie’s next week. “I really want both works, and if they sell for more than the guarantee it can also be very lucrative.” (more…)

Nate Lowman is in the New York Times Magazine this week, taking part in a dialogue with musician Devon Welsh of the band Majical Cloudz, where the pair discuss the interaction of sound and visuals in their work.  “If you discover as a kid that being a musician, or being an artist is something that you like, everyone should hold onto that,” Lowman says. (more…)

Swoon, Submerged Motherlands (Installation View), via Art Observed

The Brooklyn Museum has just installed a site-specific piece by artist Swoon, entitled Submerged Motherlands. Comprised of a monumental tree and a constructed surrounding environment, the work addresses issues of destruction and renewal in the artist’s signature multimedia approach.

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Claude Monet, Nymphéas (1907), via Christie’s

As the art world turns its attention to New York this week during the hustle and bustle of Frieze Week, Sotheby’s and Christie’s will hold their annual spring auctions of Impressionist and Modern Art, boasting an impressive collection of works that speaks to the current strength of the auction market, and the enthusiasm of its buyers.  The competition between the two auction houses has remained fierce over the past year, even while Sotheby’s has fought off advances from Daniel Loeb and his Third Point team.  Now, with an agreement between the parties reached just this morning, the auction house will turn its full attention to its upcoming sales, and the feverish sales estimates some are predicting for the pair of auctions early this week.

Pablo Picasso, Portrait de femme (Dora Maar) (1942), via Christie’s

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The Financial Times looks at the “tightening screws” on smaller galleries in the current market, noting the vastly disparate growth rates of different gallery income brackets, and the increasing emphasis on brand-name galleries and artists.   “Today you can go to a super-gallery and for £3,000-£3,5000 get an artwork. And maybe for buyers what is important is the brand,” says dealer Paola Weiss. (more…)

Marc Quinn is interviewed in The Guardian this week, answering a quick round of questions on his fears, hopes and secret passions, including an interesting answer to the question of what era he would visit in time: “To the beginning of the 20th century with knowledge of all the artworks to come,” he says. “If I then made them all myself, would it have the same effect on culture?” (more…)

A Delaware judge has rejected Daniel Loeb’s lawsuit seeking to overturn Sotheby’s shareholder rights plan, which had prevented activist investors from owning more than 10% of the company.  “I find that the plaintiffs have not demonstrated that they have a reasonable probability of success on the merits of their claims,” Judge Donald Parsons wrote in his decision. “Therefore, I deny the plaintiff’s motion for a preliminary injunction.” (more…)

Jeremy Deller has announced that he will be releasing a free, downloadable version of his work from the 2012 British Pavilion at the Venice Biennale.  The adaptation of English Magic will be released on July 7th as part of a commission by Own Art, a nonprofit aimed at encouraging new contemporary art collectors to buy their first works. (more…)

The Wall Street Journal profiled Camille Henrot this past week, in the lead-up to the artist’s first U.S. solo museum exhibition at the New Museum, opening this upcoming Wednesday.  The show includes her work Grosse Fatigue, which earned her the Silver Lion at Venice last year for most promising young artist, and which features the image of the turtle heavily.  “She’s slow because she is carrying this massive round thing–it’s like a figure of Atlas,” Henrot says. (more…)

Alex Katz, Nabil’s Loft (1976), all images courtesy Galerie Thaddaeus Ropac

On view at Galerie Thaddaeus Ropac, Paris Pantin, is a retrospective of paintings by American figurative and Pop artist Alex Katz.  The monographic exhibition is composed of around one hundred works, including paintings from the 60’s and 70’s, as well as more recent works through to the present. The exhibition will remain on view through July 12, 2014.

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Frieze New York has announced that it will restate artist Allen Ruppersberg’s work Al’s Grand Hotel, a 1971 installation that saw the artist turning a Los Angeles house into a gallery, performance space and functioning hotel.  “My hope is that the hotel at Frieze will function as a space where people can physically and mentally take a break from the bombardment of the other galleries at the fair and walk into a time capsule where you can almost jump back to 1971,” says curator Cecilia Alemani. (more…)

Helly Nahmad was sentenced Wednesday to a year in prison for his role in an illegal gambling ring, the New York Post reports.  “The record here before me reveals that the defendant has contempt for the law — and that he believes the rules apply to everyone else,” Judge Jesse Furman said. (more…)

Martin Creed, Work No. 1092, Mothers (2011), Courtesy Hayward Gallery.

A sheet of A4 paper crumbled into a tight ball, an image of several pots of variously colored and shaped cactuses and a large rotating steel beam bearing the word “MOTHERS”  – these are just some of the eclectic works currently on show at London’s Hayward Gallery for What’s the point of it?, a survey of British artist Martin Creed’s equally playful and thought-provoking works.

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Frances Stark (Installation View), via Art Observed

Currently on view at Gavin Brown’s Enterprise in New York is an exhibition featuring new work from Jennifer Bornstein, Judith Bernstein and Frances Stark.  While the work presented by each of these three artists is diverse in their concerns, they all possess a monumentality fitting to the large-scale environs of GBE.

Judith Bernstein via Art Observed (more…)

Ai Weiwei’s name and works have been removed from a show of Chinese contemporary art in Shanghai, following government pressure over his inclusion.  “We were not really a party to this,” says Uli Sigg, the Swiss collector and organizer of the show. “In the end it was the Power Station and the cultural bureau. In the end we said we must accept. We don’t understand but we must accept that his works will not be in there.” (more…)

Online art sales surpassed the $1 billion mark for the first time in history last year, The Art Newspaper reports.  The market is also expected to double in less than ten years, according to special insurance group Hiscox.  The news was accompanied by a survey that noted some drawbacks to buying online, including an inability to see the work in person, but also noted a high number of customers to be aged under 30. (more…)

Marianne Boesky Gallery has announced that it will open a new exhibition space in downtown New York, titled Boesky East.  Located at 20 Clinton Street, the space will open its doors May 4th with an installation by Pier Paolo Calzolari.  “I’m looking forward to expanding our reach into such an exciting neighborhood for art,” Boesky told Art Observed.  “Clinton street will be a wonderful complement to our Chelsea and Uptown locations.”

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…)

Urs Fischer at Lever House, via Art Observed

Running concurrently with his show of new works at two Gagosian exhibition spaces, Urs Fischer is exhibiting a selection of past works in the glass-encased lobby of the Lever House on Park Avenue.  Taking an intriguing approach towards the artist’s own glass-encased objects, the show makes for an intriguing perspective into Fischer’s interests in display, perspective and construction. (more…)

Serpentine Galleries has announced a collaboration with Comme des Garçons to create a special unisex fragrance, inspired by the gallery’s location in Hyde Park, with a bottle designed by Tracey Emin.  “The result is a fresh, light, yet deceivingly complex, unisex scent composed of grass, leaves, pollen (galbanum, iris leaf), oxygene (aldehyde, ozone), asphalt (black musks, nutmeg), labdanum and smoked cedar with a little bit of pollution (benzoin, juniper wood, gaïac wood),” the gallery notes on its site. (more…)

A recent interview with Christie’s head Steven Murphy for the Wall Street Journal notes the auction house’s commitment to entering the online market.  “I felt the art auction world had not experienced the tidal wave that music, video and books experienced with the advent of online,” said Mr. Murphy, who has worked with Rodarte and Disney in the past. (more…)