Controversially held for centuries outside of China, two bronze zodiac statues looted from Beijing’s summer palace were returned by François-Henri Pinault on Friday.  The Christie’s owner first promised to return the heads in April, during a visit to the country by president Hollande and a number of ranking French businessmen.  “This donation is a token of our family’s appreciation for China as well as our passion for the preservation of art and cultural heritage,” Mr. Pinault said in a statement. (more…)

James Franco, Psycho Nacirema, (still) (2013), courtesy Pace London

On view at Pace London is an exhibition of works by American actor James Franco, presented by Scottish artist Douglas Gordon entitled Psycho Nacirema. The exhibition, which marks Franco’s first major gallery exhibition in the United Kingdom, continues Franco’s intriguing explorations of celebrity, cultural symbols, and obsession.

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The last of artist Thomas Hirschhorn’s monument structures, constructed in in tribute to writer Antonio Gramsci, opens today at the Forest Houses housing project in the South Bronx.  Consisting of a library, performance space and Internet access point, the Gramsci Monument will stand all summer, welcoming all visitors to engage with the writings of the Italian anarchist at a space constructed by Forest Houses residents.  “I tell them, ‘This is not to serve your community, per se, but it is to serve art, and my reasons for wanting to do these things are purely personal artistic reasons,’” Hirschhorn says. “My goal or my dream is not so much about changing the situation of the people who help me, but about showing the power of art to make people think about issues they otherwise wouldn’t have thought about.” (more…)

The invasion of financiers in the art market, the introduction of art as investment, and the internet have altered the value system of works at auction, placing a new emphasis on the reassurance of well-known artists and established sales records. The new ethos can be see in in recent sales of Giacometti’s L’Homme qui march I,’ which sold for over £65 million at Sotheby’s, London in February 2010. The sculpture was an edition of six, with four additional ‘artist proofs.’ The existence of editions allows for direct price comparisons and understanding of the piece’s artistic standing.

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Painter John Constable’s 1821 canvas The Hay Wain, widely regarded as one of Britain’s most iconic paintings, has been a attacked by a protestor from the group Fathers4Justice.  The alleged protestor, 41 year old Tim Haries, was arrested on charges of attaching a small photograph of a young boy to the work while it was on view at The National Gallery.  “A member of the Gallery’s security team quickly intervened and called for assistance. The photograph was approximately 4 inches wide, and the back had been coated with glue.”  Said a Gallery spokesman. (more…)

Alex Katz, Yellow Seagull (2000), courtesy MdM Mönchsberg

The Museum der Moderne Mönchsberg in Salzburg, Austria has collaborated with the Colby College Museum of Art in Waterville, Maine to present a comprehensive view of work by Alex Katz. Mostly drawn from the collection of over 700 of Katz’s works held by the Colby College Museum of Art, the exhibition also includes a number of paintings on loan from European museums and private collections.

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Haroon Mirza, Pavilion for Optimisation (2013), via Lisson Gallery

In one of the pale, white rooms of Lisson Gallery’s current show of works by Haroon Mirza, a light continually goes on and off, accompanied by a bizarre whooshing noise.  The sound is that of an ant, walking across a small copper plate buried inside of an ant farm, and mixed together with the sounds of a shower head draining into a plastic bin.  At turns confusing, surreal and immersive, the viewer cannot help but linger in this minimal environment, seeking to understand the subtle links between action and reaction. (more…)

Ugo Rondinone, Soul (Installation View), via Gladstone Gallery

Gladstone Gallery is currently presenting a series of new works by Swiss artist Ugo Rondinone, exploringhuman creativity, expression and individuation through a series of primitive stone sculptures, collectively titled Soul.  Complementing the artist’s enormous sculptural installation Human Nature, on view at Rockefeller Center, the exhibition features a series of individually carved stone statues. (more…)

This coming November, the Dia Foundation will auction a number of its works in order to increase its resources for further acquisitions. The decision follows the Foundation’s recent purchase of the Alcamo Marble building, for its new Chelsea location.  “Dia cannot be a mausoleum, (…) It needs to grow and develop” says Dia director, Philippe Vergne. Among the works to be sold are pieces by Cy Twombly, Barnett Newman, and Richard Chamberlain.  (more…)

Financial Times editor Simon Schama recently sat down with artist Grayson Perry for an interview covering the artist’s new exhibition at the Royal Academy in London.  Discussing his influences and practice, the artist goes on to discuss the broader context of British art in the global community. “We are all so desperate to hunt for Englishness, to try and connect to the European renaissance, that we are missing our own brilliant contribution to world culture, which is to say, “Oh come off it!” That’s what we do, hold complex ideas and manage to be ambiguous in a humane way, to celebrate humanity while at the same time satirising it, that’s what makes us English.” (more…)

A new website, titled BitPremier, is currently offering a number of luxury goods for purchase using the digital currency BitCoins. The initial offering of products on the site include works by Peter Beard and LeRoy Neiman.  “This is a way for them to diversify their assets into bitcoins. At this point, it’s a lot easier to sell a $1 million painting to get bitcoins than trying to buy a million dollars of bitcoins on an exchange.”  Says Bitpremier founder Alan Silbert. (more…)

New York’s Harris Lieberman Gallery, which has operated in the city for 7 years has closed, after finishing its last show on June 15th. “We had a great seven years,” said co-founder Jessie Washburne-Harris, “but we decided it was time to make a change”  Ms. Washburne-Harris will join Metro Pictures as a director beginning July 15th. (more…)

The Wall Street Journal reports on Oslo’s burgeoning art scene, which is taking major strides to become a global capital for contemporary art.  Combining a relatively small and close knit community with major efforts to increase the Norwegian city’s cultural offering, the city is already attracting major attention.  “It’s because Oslo’s small. In New York, if you want certain kinds of materials, there are so many rules, and it’s so difficult to get things done sometimes,” says painter Ida Ekblad. (more…)

Jake and Dinos Chapman, Great deeds – against the dead!, (2003), via Yoshii Gallery

From May 1^st until June 29^th the Yoshii Gallery, New York is exhibiting a series of works entitled Insult to Injury by Jake and Dinos Chapman. For Insult to Injury, the artists reworked Francisco de Goya’s The Disasters of War, a set of 80 etchings, by changing all the visible faces of victims to heads of clowns and puppies.

Jake and Dinos Chapman, Nobody Knows Why, (2003), via Yoshii Gallery

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Jeff Koons, Gazing Ball (Snowman), (2013), via Daniel Creahan for Art Observed

The counterpoint to Gagosian Gallery’s survey of recent work by Jeff Koons, David Zwirner is currently presenting a markedly more subdued set of works by the American artist.  Consisting of a cohesive series of plaster and steel sculptures, Gazing Ball fuses Koons’ signature approach to American kitsch and the art historical with a new sense of minimalism.

Jeff Koons, Gazing Ball (Farnese Hercules), (2013), via Daniel Creahan for Art Observed (more…)

The Whitney’s new building, scheduled to be finished in 2015, was affected by hurricane Sandy’s floods last year, forcing “significative adjustments.” Located at the intersection of Gansevoort and Washington Streets, the building is just one block away from the river, raising concerns about the possibility of future floods. As a preventive measure, the Whitney has committed to bring top-specialists to remodel the walls, lobby, and basement, to make them waterproof. In consequence, the museum has also increased its capital goal by $40 million to a total expense of $760 million. In this regard, Adam D. Weinberg–the Whitney’s director–says that “77 percent of the total [has] been raised. About half of the additional funds will pay for flood mitigation, […] the other half will cover unexpected costs.” (more…)

Ellsworth Kelly, Curves on White (Four Panels) (2011), via Matthew Marks Gallery

Capping off a trio of New York shows this spring, Ellsworth Kelly has brought a his work to Matthew Marks Gallery, taking up all three of the gallery’s New York City locations with a series of new paintings and sculptures that illustrate the artist’s continued interest in location, color and form.

Ellsworth Kelly, At Ninety (Installation View), via Matthew Marks Gallery (more…)

Following two costly lawsuits against the Foundation by collectors Joe Simon and Susan Shaer in 2007 after their Warhol works were deemed “fake” by the Foundation’s Authentication Board, its insurance firm, Philadelphia Indemnity, refused to pay its share of legal fees. “Philadelphia Indemnity said it was not liable to pay for the Warhol Foundation’s defence because the organisation had “failed to notify them—as [its] insurance policy required—of ‘any specific wrongful act’ committed by one of the foundation’s members, including the publication of material ‘with knowledge of its falsity’”, according to a 20 June article in the New York Review of Books.” This derived in an over two year-long legal dispute between the two organizations, which was finally settled last week, in favor of the Foundation, which has already processed the insurance company’s payment. (more…)

Gursky Sells at Sotheby’s, via Sotheby’s

The final auction hammers have fallen for the first half of 2013, concluding June’s London auction weeks. While the results of this week’s Post-War and Contemporary Evening Sales at Christie’s and Sotheby’s were solid, final sales events before the summer break showed a marked tapering off in both sales prices and quantities. With the bountiful auctions, events and fairs, including the $1.1 billion New York auctions, Frieze New York, Art Basel Hong Kong, and the Venice Biennale with its record 86,000 attendance count.

Francis Bacon, Three Studies for Isabel Rawsthorne (1966) via Sotheby’s (more…)

Volunteers are needed as extras for a film collaboration between artist Matthew Barney and composer Jonathon Bepler, entitled River of Fundamental. The filming will take place on Saturday, June 29^th at the Brooklyn Navy Yards, and volunteers will be needed for a 10-hour period. Requirements for the position include a willingness to get your feet wet, enclosed shoes and vocal participation. In return for involvement, volunteers will receive a box lunch and a limited-edition, signed, and numbered t-shirt. (more…)

Yoshitomo Nara, Missed Autumn Rendez-Vous (2013), via PACE Gallery

The images of Japanese kawaii have become, at this stage of the contemporary arts dialogue, something of a trope, an analytical signifier earmarking a work for commentary on Japan’s encounters with global pop culture.  Creeping into press releases, catalogues and countless reviews as a convenient sounding point for Japan’s obsession with the bizarre and the cartoonish, the use of the word often leaves something to be desired, doing little to quantify the aspects or implications it actually carries.

Yoshitomo Nara, (Installation View), via PACE Gallery (more…)

Marc Quinn, All the Time in the World (Installation View), via Mary Boone

Mary Boone Gallery in Chelsea is currently exhibiting four new bronze sculptures and one oil painting, which together make up an exhibition by Marc Quinn entitled All the Time in the World. The display was opened to the public on May 4th, during the busy weeks around Frieze New York, and will remain on view through June 29th, 2013.   The exhibition also corresponds with Quinn’s major retrospective of works currently on view at the Fondation Giorgio Cini in Venice this summer. (more…)

Artist Ed Ruscha is profiled in the most recent issue of the New Yorker, discussing his life in Los Angeles, his practice, and the inspiration for some of his most iconic works, including his famous painting Oof.  “It had one foot in the world of cartooning,” he says. “You get punched in the stomach, and that’s ‘Oof.’ It was so obvious, and so much a part of my growing up in the U.S.A. I felt like it was almost a patriotic word.” (more…)

During a recent visit to London, David Zwirner spoke with Spear’s about the current state of the art market, offering his perspective and opinion on the current struggle that small and mid-size galleries are currently facing.  ” Those [mid-size] galleries have to be strong. That’s a little bit on the local communities to support them.”  He said.  “When I was a mid-size gallery and a small gallery, I really got my support from New York. It seems that the audience seems to gravitate towards the galleries that have a little glory attached to their name. That’s too bad.” (more…)