Visitors Outside Art Basel in Switzerland via myswitzerland.com

Freud Painting Sells for $12 Million [Bloomberg]
New Freud Paintings Enter the Market [Times Online, UK]
Roman à Clef [artforum]

The painting, titled Girl in Attic Doorway and dating from the mid 1990s, was reserved during much of the fair’s preview yesterday. The work sold today via Freud’s international agent, Acquavella Galleries, for $12 million to a buyer who wished to remain anonymous. This sale follows Russian billionaire Roman Abramovich’s record-breaking purchase of Freud’s Benefits Supervisor Sleeping for $33.6 million at Christie’s last month, making the British painter “the world’s most expensive living artist.”

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Drawing machine from Spatial Vibration via spatialvibration.blogspot

Part of a series of experiments investigating sound and image by Danish-Icelandic artist Olafur Eliasson, this installation at Tanya Bonakdar Gallery in Chelsea actually invites visitors to “make drawings.” Between 4 and 5pm viewers can participate in Eliasson’s piece by playing a stringed instrument which triggers laser projections and a drawing machine, giving visual form to sound.

spatialvibration.blogspot [Official Website]
Olafur Eliasson: Spatial Vibration [Art Vent]
Olafur Eliasson: Take Your Time at MoMA and P.S.1 [Art Observed]
New York City Waterfalls [Official Website] (more…)

A view of Art Basel via the NY Times

The largest international contemporary art fair opened June 4^th (through June 8^th) in Basel, Switzerland. The show, run by Annette Schonholzer and Marc Speigler, has occurred every spring since its inception in 1970. An estimated 60,000 people are expected to show up at the four-day fair. This number includes artists (2,000), collectors, galleries (300), as well as art enthusiasts, representing thirty different countries viewing art in the mediums of painting, drawing, sculpture, installation, performance and video art.

Art Basel Takes Off [NY Sun]
Art Basel, world’s largest art fair, opens in Switzerland [Sun sentinel]
Art Basel Awaits Sales [NY Sun]
At Art Basel, Old Names and Few Showstoppers [NY Times]
Art Basel heats up [the Moment]
Art Basel:El Dorado of the international art world set to open in Switzerland [art daily]
Abramovich Prowls art basel;$8 Million Murakami “Budha” sells [Bloomberg]

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Charles Saatchi via ArteSpain

Charles Saatchi, the influential British art dealer and advertising magnate, has signed a deal with The Art Trading Fund to advise contemporary art purchases in the Western market, as well as the emerging markets of China, India and the Middle East. Saatchi will garner more corporate patrons for his gallery and will receive a percentage of profits on pieces of art that go through his hands; the fund is hoping he “will bring global expertise to our plans to enter new markets.”

Hegde Funds gets tips on hottest artists [Bloomberg]
Art For Money’s Sake [Portfolio]
Saatchi to Advise Art Fund on Deals [New York Times]
Saatchi Signs Deal with Art Trading Fund [Artinfo]
Charles Saatchi will advise fine art hedge fund [Wall Street Journal]
World’s First Regulated Art Hedge Fund [Financial News]
Charles Saatchi [Wikipedia]
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“untitled” by Raymond Pettibon via BFAS

From May 22 through July, 19, BFAS Blondeau Fine Art Services in Geneva is hosting the new exhibition of Raymond Pettibon entitled “Punk Epocha” which is composed of 70 drawings from the eighties.
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Raymond Pettibon [BFAS]
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Raymond Pettibon – Punk Epocha: 70 drawings from the Eighties [Artnet]

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Instructions (1989) via Saatchi

Paula Cooper Gallery is currently showing works on paper by Rudolf Stingel, in the recently opened 23rd Street space. Back in 1989, Stingel published a manual giving instructions for how to make knockoffs of his work; here Stingel paints directly onto those black-and-white instruction photos. He also follows his own directions and applies white onto white producing abstract patterns. The exhibition will be open through June 7th.

Rudolf Stingel [Paula Cooper Gallery]
Rudolf Stingel [ArtCal]

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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]

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Yue Minjun, “Gweong-Gweong” via ArtNet

This weekend marked Christie’s first Hong Kong Evening Sale with artists such as Zeng Fanzhi, Zao Wou-ki, Yue Minjun setting auction records. Monday’s sale was the second day of Christie’s six-day auction of 2,400 paintings, gems and antiques that the company expects could tally HK$1.7 billion, according to Bloomberg.

Gun-Slinging Robot, Wooden Beams Mark Quiet Hong Kong Art Sale [Bloomberg]
Smiling Bombs, 101-Carat Diamond Lead Christie’s Hong Kong Sale [Bloomberg]
Picasso Women, Hirst Spots Mark Hong Kong Bid for Art-Fair Fame [Bloomberg]
Asian Contemporary Art Sets a Record [NYTimes]
Asian art records tumble at Christie’s Hong Kong auction [China Post] 5.26.08

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Fritza Riedler via Klimt.com

Klimpt’s dual acumen in portraiture and decorative design [GuardianUK]
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Tom Sachs’s Hello Kitty Sculptures: copyright violations? [NYMag]
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Art economist interview on her new global market study [ArtInfo]
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11 global art scene cities [ForbesTraveler]
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Rare interview with collector-scion/billionare Nicolas Berggruen [Financial Times]

Balloon Flower (Magenta) via jeffkoons

A Jeff Koons sculpture, Balloon Flower (Magenta), which has been in the Dallas collection of Howard and Cindy Rachofsky for seven years, is set to be auctioned at Christie’s London June 30 and may fetch $23.5 million. The sculpture, originally purchased for $1 Million, has gained value as Koons has emerged as one of the world’s most influential contemporary pop artists. Balloon Flower is from the same “Celebration” series as the sculptures which are currently on view on the roof of the Metropolitan Museum of Art in New York.

Koons Prices Balloon, ‘Flower’ Will Be Sold [NYTimes]
Jeff Koons: Iconoclast [Sundance]
Koons Sculpture to Fetch Millions[Bloomberg]
Christie’s Announces Sale of Koons [Art Daily]
Rachofsky’s Sell Koons to Focus Collection [Dallas News]
Koons Balloon Soars to Auction [ArtInfo]

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Francisco Goya The Witches’ Flight via Goya in Times of War [Museo Nacional del Prado]

For the 200th anniversary of the events of May 1808 and the start of the Spanish War of Independence, the Museo del Prado presents a major exhibition of Goya’s work. Almost 200 works by the artist are currently shown.

Goya in Times of War [Museo Nacional del Prado]
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The stained cape of his heart [Financial Times]
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Prado Pulls Goya Painting [ArtInfo]
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Goya at the Top of His Game [New York Sun]

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Pharrell on his design for Perrotin Gallery via [BBC]

Gallerist Perrotin collaborates with Pharrell [Billionaire Boys Club]
The recent effect of “non-doms” on the art market [Portfolio.com]
German gallery tries to halt Beuys sculpture sale [The Art Newspaper]
Vanessa Beecroft, Peter Brandt (2x) Aby Rosen in today’s Page Six [NYPost]
Remembering Robert Rauschenberg [NYMag]

Anish Kapoor Blood Stick (2008) via erikjsommer

Gladstone Gallery is currently exhibiting new work by the sculptor Anish Kapoor at both its 24th Street and 21st Street locations.  The exhibition is the first at Gladstone’s new gallery space on 21st street.  Kapoor uses divergent materials such as stainless steel and vibrant colored dyed wax to make his work, always placing a premium on the viewer’s interaction with the sculpture.

Anish Kapoor [Gladstone Gallery]
Interview with Anish Kapoor [Bloomberg]

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Playing the Building via Creative Time

From May 31- August 10, the artist and musician David Byrne will transform the landmark Battery Maritime Building in lower Manhattan into a massive ‘sound sculpture.’ The project is being executed with the help of Creative Time, the innovative arts organization known for its experimental public art. Visitors will be invited to ‘play’ the building, making music by controlling an organ that is attached to devices installed throughout the structure.

Playing the Building [Creative Time]
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David Bryne [David Byrne]
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David Plays the Building [Gothamist]
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David Byrne Explains [Fargfabiken]
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Teaching An Old Building New Vibes [NY Times] (more…)

Image via World’s Best Ever

today:
First look street art exhibit at the Tate [World’s Best Ever]
Studio visit interview with Ernesto Neto [ArtInfo via C-Monster]
Former Met Director de Montebello as NYU Professor [NY Times]
Art charity raises to buy Rubens for Tate where British state failed [Bloomberg]
French billionaires battle at Sotheby’s last week [Art Info]

Lucian Freud, Naked Portrait with Reflection, (1980) via Evening Standard

Following the success of Post-war and Contemporary art sales in New York, Christies has announced they will offer a rare Francis Bacon painting and a Lucian Freud masterpiece for his London auction. These two pieces are considered the most valuable and important works to come up for auction.

Boom for Bacon and Freud [Evening Standard]
Freud Masterpiece and Bacon Triptych Highlight Christie’s London Auction [ArtDaily]

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Vincent Van Gogh, Dr Paul Gachet (2nd Version) (1890) via Guardian UK

The painting in question was stashed in an Athens bank vault along with a sketchbook, which may be the last work of Vincent van Gogh.  The painting is a portrait of his physician, Dr. Gachet.  Doretta Peppa, claims her father “liberated” it from the Nazis during the war. 

Is the Van Gogh ‘find’ too Good to be True? [Guardian UK]
Discovered Painting May Be Van Gogh’s Last [ArtInfo] 

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Roy Lichtenstein via Gagosian Gallery

From May 12 through June, 28 Gagosian Gallery in New York is hosting the exhibition of Roy Lichtenstein, “Girls.” The works are a series of images of women, taken directly from newspaper and romance comic books from post-war in America.

Gagosian Gallery
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Roy Lichtenstein, “Girls” [Time Out]
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Lichtenstein’s Primary Ladies [NY Sun]

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“Study for Head of George Dyer” by Francis Bacon via Bloomberg

Sotheby’s to sell $15.6M Bacon portrait of suicidal boyfriend [Bloomberg]
IMPei’s new Museum of Islamic Art in Qatar [Financial Times]
Turner Prize announces 2008 Short List [Artforum]
Was Spring NY auction bidding “eerily thin?” [Wall Street Journal]
Update: Tate Street art exhibition includes only non-British [Financial Times]

Image via Overspray

This Friday, London’s Tate Modern will open an exhibition of six internationally recognized street artists. The show is the first major museum exhibition in London to display the work of street artists and it will use the riverside exterior façade of the Tate to display their work.  After the success of last weekend’s Banksy-organized Cans Festival, and with the current popularity of street art in London, the exhibition is expected to be well-received.

Street Art to Adorn Tate [The Overspray Magazine Fishbowl]
Tate Modern [Tate Modern]
Graffiti on the Gallery [Times Online]
How the Tate Got Streetwise [guardian.co.uk]
Street Art Comes to the Tate Modern [Artinfo]
The art market: Riding the street art wave [Financial Times]
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Russian Billionaire Roman Abramovich via impactlab

Last week’s contemporary auctions in New York were anchored by two record-setting painting sales.  Lucian Freud’s Benefits Supervisor Sleeping sold at Christie’s for $33.6 million and Francis Bacon’s Triptych sold at Sotheby’s for $86 million.  It has just been reported that billionaire Roman Abramovich was the buyer behind both deals.

Roman Abramovich [Forbes]
Abramovich Brings Home the Bacon (and Freud) [Art Newspaper]
Abramovich Sets Record Art Transfer [Times UK]
Abramovich spends $120 Million [Bloomberg]
Dasha Zhukova to open Russian Gallery [Art Newspaper]
Abramovich Revealed as Freud and Bacon Buyer [Telegraph]
Bacon Tops Biggest Sales at Sotheby’s [ArtObserved]
Freud Sets Records at Christie’s [ArtObserved]
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Millionaire Nurse, Richard Prince via Artnet

The record-setting Francis Bacon triptych wasn’t the only artwork purchased for large sums at Sotheby’s the other night. The evening sale, which amassed a total of $386 Million and came on the heels of a successful night at Christie’s was filled with powerhouse artwork and collectors –indicating that maybe not all Americans bearish on art.

Market Exuberance Surprises [International Herald Tribune]
Sotheby’s Stock Rises After Strong Contemporary Sales [Forbes]
Francis Bacon Triptych Tops Sales [Art Observed]
Sotheby’s begs the question – what recession? [New York Times]
$86 Million Corpse at Sotheby’s [Bloomberg]
The Scene at Sotheby’s [Wall Street Journal]
Bringing Home the Bacon [Artforum]

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Image via lilli in the city

Murakami, the subject of much news here in New York at the moment, returns to Los Angeles for the first time since his influential show at the Museum of Contemporary Art (MOCA). From May 3 to June 14, Blum & Poe will present Takashi Murakami’s “Davy Jones’s Tear.” This is a rare solo show of his new works.

Blum & Poe Gallery
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“Takashi Murakami Davy Jones’ Show” [The Style Latte]
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“Takashi Murakami: New Paintings” [LATimes]

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Stephanie Seymour (wife of Art Collector and Art in America owner Peter Brant) in Jeff Koons
for Gap; via Nylon

The Gap, working in close partnership with the Whitney Museum of American Art and the Art Production Fund, recently released a collection of 13 t-shirts designed by contemporary artists who have all been past Whitney Biennial participants. Jeff Koons, Chuck Close, Babara Kruger, Ashley Bickerton, Kiki Smith, Rirkrit Tiravanija, Marilyn Minter, Cai Guo-Qiang, Kenny Scharf, Glenn Ligon, Kerry James Marshall, Hanna Liden, and Sarah Sze are all participating.

Gap Partners with the Whitney to Launch Artist Edition T’s [Gap]
Gap Artist Edition T Shirts [LA Times]
Turning Shirts Into an Artforum [USA Today] (more…)