Established artists and classic masterworks are increasingly finding themselves in the crosshairs of eager art flippers, Bloomberg reports, pointing in particular to a Francis Picabia that saw a massive 220% gain in price in less than six months.  “Because art is seen as an asset class, the more rapid turnover is considered encouraging. There’s a whole new generation of collectors who are playing the art market,” says Frances Beatty, VP at Richard L. Feigen & Co. (more…)

Last night’s Party in the Garden at MoMA was marked by vocal protests from museum staff, following museum proposals to reduce health care coverage during ongoing contract negotiations.  “A lot of us here are professionals,” says Luke Baker, an architecture and design curatorial assistant. “We’ve got master’s degrees. You know, we’re here for the long haul. We really want to make sure that working here, and giving as much as we give to the museum, that this is a tenable position for us and that we’re able to stay here.” (more…)

Thomas Houseago, Masks (Pentagon) (2015), via Art Observed

This summer, Rockefeller Center has launched a continuation of its partnership with the Public Art Fund, opening a new public work by British-born, Los Angeles-based artist Thomas Houseago.  The work, titled simply as Masks (Pentagon), the artist continues an investigation of spatial interactions that has defined his work over recent years. (more…)

Richard Serra was awarded last night with The Insignia of Chevalier of the French Legion of Honor, the highest honor in France, recognizing the artist’s long history of work in the nation, and his contributions to the development of contemporary art both in France and abroad.   (more…)

The Art Newspaper profiles the recently closed Off Biennale Budapest, a response to the right-leaning Hungarian Government’s interference in the selection and promotion of the city’s arts institutions.  “Cultural institutions are losing their autonomous position,” warns Tijana Stepanović, one of the event’s lead curators. (more…)

Roni Horn, Gold Field (1980-82), via Sophie Kitching for Art Observed

Taking over the Punta Della Dogana for the dizzying months of the Biennale is Slip of the Tongue, a Danh Vo curated exhibition in collaboration with Palazzo Grassi and The Pinault Collection.  Slip of the Tongue features the work of 35 artists, including pieces from Felix Gonzalez- Torres, Andres Serrano, David Hammons, Sigmar Polke, David Wojnarowicz and the curator himself.  Working in conjunction with a large number of artists, the artist-run show is a first for the exhibition space. (more…)

Aurel Schmidt with a work from New Gods, via Art Observed

Recently, artist Aurel Schmidt launched another entry in her series of unexpected pop-up shows, bringing her uniquely visceral, surrealist drawings to an uninhabited apartment on St. Marks Place downtown.  It was a rough and ready affair, with works installed across the hauntingly empty rooms of the walk-up (one work was mounted near the kitchen sink, while another sat above the laundry machine), and a number of the artist’s friends on hand, making it feel more like a casual gathering than a gallery show.  In one room, guests were treated to an impromptu concert by Devonté Hynes (a.k.a. Blood Orange), while Schmidt welcomed guests and showed them around the space.

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The case surrounding the theft of works from Picasso descendent Catherine Hutin-Blay has taken a new turn, as Art Newspaper reports that more than 60 works could be missing from Hutin-Blay’s Gennevilliers storage facility.  “One thing is for sure,” her lawyer, Anne-Sophie Nardon says, “this case is extremely serious and much bigger that we first thought.” (more…)

Al Jazeera looks at the massive Savitsky collection in Uzbekistan, where tens of thousands of Russian avant-garde masterpieces were salvaged and put on display by artist and founder Igor Savitsy following their censorship in their home country, including long forgotten works by Kandinsky, Chagall, and more.  “Without him, they would have been gone without a trace,” says Marinika Babanazarova, the current director of the Nukus Art Museum where his collection lies.  “These days, he is an authority figure, genius, but at the time they saw him as a weirdo, an absolute nutcase.” (more…)

The retrospective of Vienna Actionist Hermann Nitsch’s work, previously pulled from Mexico City’ s Museo Jumex this past year, has found a new home at Palermo’s Museo Zac.  “Everybody who knows me, knows that I am an animal protector,” says Nitsch, responding to accusations of animal cruelty that some feel were responsible for closing the show.  “From my point of view, factory farming is the biggest crime in our society.”   (more…)

The WSJ looks at the recent focus on algorithms as hot items on the art market, as collectors purchase classic codes and objects emblazoned with famous code.  “It is a whole new dimension we are trying to grapple with,” says Cooper Hewitt curatorial director Cara McCarty. “The art term I keep hearing is code.” (more…)

The New York Times looks at the recent trend towards smaller and boutique art fairs, where collectors can experience specially selected works and a more nuanced buying experience. The article focuses particularly on London’s Art15 fair, where a focus on international buyers and new investors has defined it as a leader in the growing market. “We deliberately made it smaller,” says Art15 Director Kate Bryan. “We wanted to create a concentrated, boutique-style event. The demographic of London is changing all the time, and we wanted to respond to that.”  (more…)

London’s National Gallery has indicated that Ireland has some claim to a series of long disputed Impressionist masterpieces.  The collection of Hugh Lane, who died on the Lusitania explosion in 1915, had been willed to Dublin, but since the will had not been witnessed, they were legally bound to Britain.  “The National Gallery claims legal ownership of the paintings bequeathed by Sir Hugh Lane, but has long conceded that Dublin has some moral claim to them,” said National Gallery Director Nicholas Penny, during a lecture on the collection. (more…)

CNBC is reporting that the mystery buyer of the record-setting Picasso canvas this month is still at large, refuting the New York Post’s reporting that former Qatari prime minister Hamad bin Jassim bin Jaber Al Thani had purchased the work for a record-setting $179 million. (more…)

Painter Agnes Martin is profiled in The Guardian this week, as the artist prepares to open her new exhibition at the Tate Modern next month, tracing her early work and her exacting vision for her production. “When you give up on the idea of right and wrong, you don’t get anything,” Martin says. “What you get is rid of everything, freedom from ideas and responsibilities.” (more…)

Coloring Book, a monumental new sculpture by Jeff Koons, has sold for €12 million euros at a Cannes charity auction that ultimately brought in more than €33 million to fund AIDS research through amFAR.    (more…)

Jeppe Hein, All We Need Is Inside (Installation View), all photos via Art Observed

Currently on view at 303 Gallery, All We Need is Inside continues Jeppe Hein’s unique combination of reflective, sculptural and painterly works, investigating the powerful and playful combination of art and personal dialogue. The new show is a strong presentation of the artist’s approach to the act of interaction and the phenomenology of viewing art, and plays on notions of calming minimalism while incorporating immersive, challenging works throughout. (more…)

The Whitney has named Scott Rothkopf, the man behind last year’s Jeff Koons retrospective, as the institution’s new chief curator, taking over for Donna De Salvo as she assumes the new position of deputy director.  “Now that the institution has grown, we need more firepower at the top,” says President Adam Weinberg said, adding: “I wouldn’t say so much that it’s a generational change but it is about bringing that next generation into the curatorial and programmatic leadership.” (more…)

The Guardian takes a tour of Gilbert and George’s East London home and studio, where the pair have lived and worked since 1968, and which they have restored to its original 18th century interior.  “It took 300 years to go downhill,” explained George. “We’ve prepared it for the next 300 years, see? We’ve used the same paint as they used originally, the same plaster, everything is as it would’ve been originally.” (more…)

Pasternak, via New York Times

Following 20 years serving as President and Artistic Director of New York City’s prolific non-profit arts org Creative Time, Anne Pasternak will take over as President of the Brooklyn Museum, taking the helm from the recently departed Arnold Lehman, who had worked almost as long in the position. (more…)

Nina Beier, Female Nude (2015), all images via Art Observed

Metro Pictures’s airy gallery is currently open to artist Nina Beier’s plotted sculptures that map the conceptual revisions of objects and their representation. Interposing sculptural still lives with flattened three-dimensional picture hangings, the artist presents crisply-laundered down comforters and jackets, flattened as a backdrop for wigs and fashionable ties, while nearby, burrowed coconut forms perched on lush soil.  In another room, gigantic stemware houses familiar objects, introduced by the gallery as an effort in problematizing representation and depiction.

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A new British £20 note has been announced this week, and this time, a creative figure from British history will replace economist Adam Smith, the New York Times reports.  “Banknotes are the principal way the Bank of England engages with the British public,”Mark Carney, the governor of the Bank of England. “These sparse pieces of paper from the 17th century have developed over the years to become the small works of art that are in everyone’s wallets.  There are a wealth of individuals within the field of visual arts whose work shaped British thought, innovation, leadership, values and society and who continue to inspire people today.” (more…)

Michael Heizer is profiled in The Guardian this week, following the opening of his newest show in New York.  “Years ago, when I had no money and I made a work of art, maybe I couldn’t afford to make it more resistant to the weather. I did, however, exploit that situation,” he says of his early work.  “I wasn’t an environmental, greenie artist making things out of moss and leaves. But I knew that some things dissipate, and I factored that into the work.” (more…)

Continuing her fundraising quest through the sale of her grandfather Pablo Picasso‘s estate, Marina Picasso is selling her inherited villa in Cannes, La Califnornie, a space she has already seen a €150 Million offer for. “Of course I’m selling,” she says. “But it’s also a way to share.” (more…)