In an effort to lure new buyers to his oceanfront Miami property, developer Eduardo Costantini has purchased a pair of sculptures by Jeff Koons for $14 million.  Ballerina, and Pluto and Prosperina will be placed outside of the Oceana Bal Harbour condos, at opposite ends of a breezeway.  “Miami is becoming truly a metropolis, and Jeff Koons is a representation of that, with the visibility that he has, and the quality of his art,” Mr. Costantini says. “You have like, citizens of the world, who travel a lot, and have more than two residences, but they have the sensitivity to appreciate good things, good quality.” (more…)

As Christie’s concludes its first auction in mainland China, The Economist has released an article forecasting a rocky road ahead for foreign auction houses entering China’s already competitive market.  With 70 auction houses already operating inside the country, high taxes and rampant concerns over counterfeiting and rigged auctions, the way will not be easy for major international companies looking to cash in on China’s growing market. (more…)

Christie’s November 12th auction in New York will feature a classic Gerhard Richter, on sale from the collection of musician Eric Clapton.  Abstraktes Bild (809-1), which was painted in 1994, is estimated to sell between $20 and $25 million.  “Richter is certainly the greatest abstract painter working today, Abstraktes Bild (809-1) is remarkable for the illusion of space that develops, ironically, out of his incidental process: an accumulation of spontaneous, reactive gestures of adding, moving, and subtracting paint,” says Christie’s Post-War Chairman Brett Gorvy. (more…)

Chinese artist Ai Weiwei has released a series of specially designed skateboard decks for The Sk8room.  Featuring shots of some of the artist’s work (including his iconic sunflower seeds work), overlaid with text from the artist. The set of three decks follows in the wake of other Sk8room Collaborations with Damien Hirst and Banksy.   (more…)

Dealer Victoria Miro is profiled in the Financial Times this weekend, discussing the opening of her second gallery space in London, her impressive stable of artists including Chris Ofili, Grayson Perry, Peter Doig, Conrad Shawcross, Elmgreen & Dragset, and Yayoi Kusama, and the changing nature of the art market.  “It affects production: it doesn’t suit all artists.”  Miro says. “Work is probably not as precious as it was. We are in a quick world. The collector base is moving. There’s a time element – you can go to an art fair and see so much in a few hours. I really regret that people don’t spend the time to look at things.” (more…)

Thomas Houseago, Sleeping Boy I (2012), courtesy Sasha Patkin for Art Observed

In the first ever large-scale presentation of the work of artist Thomas Houseago, Storm King Art Center in New Windsor, New York, presents “As I Went Out One Morning” – a unique exhibition combing both indoor and outdoor sculpture in several media, including bronze, aluminum, plaster, charcoal, and drawings. (more…)

Rapper A$AP Rocky was spotted this week wearing a piece from Supreme’s Jean-Michel Basquiat Collection, which is set for release today both online, and in Supreme flagship stores nationwide.  Featuring photographs and graphics from Basquiat’s work, the line has been hotly anticipated by urban fashion enthusiasts and art lovers alike. (more…)

Part of the upcoming release of Lady Gaga’s newest release, ARTPOP, the singer has commissioned Jeff Koons to create a sculpture of herself for the cover of the album.  “I’m still trying to figure out if we drugged him and mind controlled him into doing this.”  Gaga joked. (more…)

Capitalizing on Atlantic City’s immense casino tax funds, New Jersey governor Chris Christie has launched a major public art campaign, installing large-scale works around the city.  A number of artists have already been recruited for the project, including Robert Barry, Kiki Smith, and John Roloff, with more to be announced soon.  “What makes my heart race is to bring artists into new situations where they have to interact with the people,” says curator Lance Fung. “There are around 30 million visitors here every year, and most of them are not art people.”  (more…)

The 2012 Turner Prize nominee formerly known Spartacus Chetwynd has undergone another identity change, documenting the process in The Guardian this week. Originally named Alalia Cichosz before changing her name in 2006, the artist has yet again changed her name to Marvin Gaye Chetwynd, in honor of the deceased soul singer.  “For the last six months or so, I’ve been thinking about changing my name again – this time to Marvin Gaye Chetwynd. Again, it’s a good experiment. It could work like a shield, or a spell. In the end I just thought: ‘I’m going to try it, because nothing matters very much.'” She writes. (more…)

Cy Twombly, Sunset (1957), Image Credit: Tom Powel Imaging / Courtesy Dominique Lévy, New York.

Twenty minutes of continuous, monotone sound, followed by twenty minutes of absolute silence; such is the premise for Yves Klein’s 1949 Monotone Symphony, a powerful piece considered to stand at the core of the artist’s pioneering conceptual ouevre and one that bore remarkable influence on fellow artists Cy Twombly and Lucio Fontana, each of which drove their own sense of dichotomous action on canvas and sculpture, defining the continued explorations of abstraction and concept in post-war art.

Yves Klein, Pluie Bleu (S 36) (1961), Image credit Tom Powel Imaging, © Yves Klein, Artists Rights Society (ARS), New York ADAGP, Paris 2013.

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A major legal battle over the estate of copper heiress Huguette Clark has reached a settlement, with the Corcoran Gallery of Art receiving a large share of Clark’s fortune, including $10 million in cash, half the proceeds from the sale of Monet’s Water Lillies, and a seat on the board of a new national arts foundation.  “We’re going to be very guarded with these funds,” said Corcoran President Peggy Loar. “This will help our operating situation, but very carefully.” (more…)

The Fall/Winter issue of Document Journal will feature a special edition designed by Paul McCarthy. Dawing a naked figure over the photographed body of Kate Moss, as shot by Mario Testino, McCarthy turns a subdued image into a lurid, Freudian exercise. (more…)

As exhibitions of Balthus prepare to open in New York, critic Jerry Saltz writes on the history of one of the artist’s more sordid works, The Guitar Lesson.  Only exhibited once in 1977, the work has moved through the back channels of the art world in the past 40 years, finally coming to rest in the collection of shipping magnate Stavros Niarchos.  “I don’t love Balthus’s work, but I grant that all parts of the best examples are charged with something wild, almost half-human, some sleeping need, rage, frustration, and restraint. What makes the banishment of The Guitar Lesson so bitter isn’t only that MoMA came this close to owning a second take on the blatant sexuality of Picasso’s Les Demoiselles d’Avignon.”  Saltz writes. (more…)

Phillips has announced plans for a first-ever digital art auction, held this October 10th in New York, featuring a number of online works including one website, a YouTube video and a number of digital files able to be exhibited on a number of different devices.  Featuring work by artists Brenna Murphy, Addie Wagenknecht and Clement Valla, the auction is curated by Lindsay Howard of Bushwick’s 319 Scholes gallery. (more…)

With the first career retrospective of artist Pierre Huyghe set to open at Centre Pompidou this week, the French artist sat down Art Newspaper to discuss his selection of works for the show, the act of exhibition, and the focus of his work.  “I look at how things change, are transformed, or metabolise. The word might not be perfectly appropriate and I might change it. But I am trying to find a word to say ‘something that is alive.'”  He says. (more…)

The shortlist for the next installation on London’s Fourth Plinth has been released, calling on the public for “lively debate.”  Featuring works by David Shrigley, Hans Haacke, and Ugo Rondinone, among others, small maquettes of the sculptures are currently on view at The Crypt, St Martin-in-the Fields.  “The placing of challenging artwork amidst the historic surroundings of Trafalgar Square creates a delicious juxtaposition that gets people talking and debating, underpinning London’s reputation as a great world city for culture.”  Boris Johnson, London’s Mayor, said. (more…)

A new development on the Lower East Side has been green lighted by city authorities, and will include a New York outpost for Pittsburgh’s Andy Warhol Museum.  Essex Crossing, a $1.1 billion development planned by L+M Development Partners, BFC Partners and Taconic Investment Partners, will include a community center, rooftop garden, as well as the 10,000 square foot space occupied by the museum. (more…)

The same statute that forced the removal of a Playboy installation in Marfa earlier this year is currently threatening the well-known Prada Marfa installation, The Guardian reports.  Texas officials have declared the Elmgreen and Dragset installation an illegal advertisement, and is currently exhibited without permits or licenses, but are searching for an amiable resolution to the issue.  “We want to find a solution to this,” said Texas Department of Transportation Spokesperson Veronica Beyer. “We know people want to see art in this great state, but it has to be legal.” (more…)

A recent article in The Economist analyzes Amazon’s entry into the art marketplace, pointing out the ongoing history of art sales online, and the still paltry percentage of the market’s total sales (less than 2% according to insurer Hiscox).  Noting a desire for face to face interaction in high price sales, the magazine points out that large scale sales often happen as a result of longtime client-dealer relations, instead of broad demand for a more accessible purchasing platform. (more…)

The chairman of the Pace Gallery, Arne Glimcher, has been appointed to the rank of Officer in the National Order of the Legion of Honor by decree of the President of the French Republic.  The highest honor bestowed on either French citizen or foreigner, Glimcher joins the ranks of fellow Americans Thomas Edison, Simon Newcomb, and John Singer Sargent, as thanks for his “exemplary commitment to the vitality of art worldwide.” (more…)

Sotheby’s auction house has appointed Patrick S. McClymont, a former partner and managing director at Goldman and Sachs, as its new Chief Financial Officer, beginning October 7th.  McClymont replaces current CFO William S. Sheridan at the post, who has served the company for 17 years.  “I have had the privilege of working with a highly skilled, highly professional finance, investor relations and information technology team at Sotheby’s that I invested in and helped build, and they deserve an enormous amount of credit for all that we accomplished. It has been a true pleasure to be part of Sotheby’s and now I look forward to spending more time with my family and focusing on charitable work,” Sheridan remarked. (more…)

The New York Times profiles the tactics and approaches of the Art Loss Register, an independent investigation agency that specializes in locating and returning stolen or lost works of art around the world.  Accused of occasionally crossing ethical and legal lines, the agency has nevertheless maintained a reputation for its top-notch database and effectiveness. “When you’re doing a sting operation, for example,” Says company owner Julian Radcliffe, “you don’t say, ‘By the way, I’m lying to you.’ ” (more…)

The Financial Times has published an interview with Zeng Fanzhi, the Chinese painter who currently sits as one of the most expensive contemporary Asian artists.  Documenting his unique style, the interview goes on to detail Fanzhi’s early struggles as an artist in China, and his early life in Wuhan, a city known for its prominent role in The Cultural Revolution.  “At the time everyone wore the same clothes but my mother liked beautiful things and she sometimes wore a bit of colour – some pink flowers on her clothes,” Zeng says. “For that she was persecuted for her ‘petit bourgeois sentimentalism’ – that experience affected my whole family deeply.” (more…)