An article in Bloomberg this week notes the statement of Laurence D. Fink, head of the world’s biggest asset manager, BlackRock Inc., that contemporary art has surpassed gold as a more secure investment.  “Historically gold was a great instrument for storing of Fink said at a conference in Singapore. “Gold has lost its luster and there’s other mechanisms in which you can store wealth that are inflation-adjusted.” (more…)

Continuing a week of announcements regarding next month’s auctions, Christie’s has revealed that it has acquired the Sonnabend Collection for its May sales in New York, valued at $50 million.  The Collection has never before been offered on the secondary market.  “Many of Sonnabend’s exhibitions helped determine the course of art history in the late 20th Century,” says Laura Paulson, Christie’s chairman for post-war and contemporary art. “She discovered and promoted some of the most significant artists of her time.” (more…)

Collector Bob Rennie is interviewed in Bloomberg this week, offering his reflections and tips on starting a dedicated art collection, including his takes on art as investment.  “We can’t pretend that art is not an asset,” he notes. “It has to be managed.” (more…)

A Los Angeles Times article charts the success of LACMA curator Stephanie Barron, who has helped grow the museum and its collection into an international powerhouse of modern and contemporary art, as well as a growing Korean, Islamic and Latin American collections.  “I’ve had the amazing good fortune,” Barron says, “to work for an institution that has unconditionally supported the seriousness of the work that I want to do.” (more…)

The New York Times profiles Joanne Heyler, the leader of Los Angeles’s Broad Foundation, and her role in establishing Eli Broad’s vision for his soon to open museum.  “She’s thinking about how to nest this institution in the community, how to engage the broader culture, how to broaden its audience and what the experience is going to be like for someone going to this museum,” says Lisa Dennison, former Guggenheim director and a chairwoman of Sotheby’s. “The book shop, lighting, conservation, storage, the plan for the opening show — it’s all Joanne.” (more…)

With renewed diplomatic activities between Cuba and the United States this year, the Independent forecasts massive interest in this year’s Havana Biennial.  “Most of us are expecting that for the Biennial there will be an explosion of American collectors coming to buy,” says artist Mario González. “It should be a stampede.” (more…)

Sotheby’s will bolster its May 12th Contemporary Evening Auction in New York next month with a brilliant, 1954 Mark Rothko, the New York Times reports.  Untitled (Yellow and Blue), which formerly sat in the collections of both Bunny Mellon and François Pinault, is estimated to achieve between $40 and $60 million. (more…)

Taryn Simon, An American Index of the Hidden and Unfamiliar (2007), all images courtesy Jeu de Paume

On view at Jeu de Paume in Paris is a body of conceptual artwork by artist Taryn Simon, combining photography, text, and graphic design to address issues related to the production and circulation of knowledge, as well as the politics of representation.  The works on view, all produced after 2000, include The Innocents, a piece documenting cases of wrongful convictions in the United States, and underlining photography’s role and function as a both a credible witness and an oppositional agent that blurs truth and fiction.

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An article in the New York Times notes an increasing trend towards museums deaccessioning parts of their collection in order to cover budget gaps, even in the face of staunch opposition from critics and board members.  “If you want to safeguard cultural identity, you cannot sell the best pieces of your collection,” says  Marilena Vecco, an assistant professor of cultural economics at Erasmus University in Rotterdam. “This is the challenge for all museums.” (more…)

Henry Moore, Wunderkammer – Origin of Forms installation view, Photo: Mike Bruce, Courtesy of Gagosian Gallery

Gagosian London presents a new look at Henry Moore’s body of work in its current exhibition, a cunningly arranged series of small-scale sculptures.  Though best-known for his large abstractions of the human form, Moore’s inspiration often came from small objects he found in nature—pebbles, shells, animal bones—which have been preserved in his Hertfordshire studio in Perry Green, his former home and now a museum and headquarters of the Henry Moore Foundation.  These pieces are currently on display in this unique show demonstrating Moore’s artistic process. (more…)

The thieves behind the Isabella Stewart Gardner Museum have been identified, according to a report by Breitbart.  The career criminals George Reissfelder and Lenny DiMuzio were named as the perpetrators by anonymous sources within the FBI, which had recently been reinvestigating the case.  Reissfelder had previously been represented by Senator John Kerry during his days of private defense practice for a murder conviction, which was overturned.  “I don’t know if those paintings ended up on eBay,” Kerry once joked, “but they’re not on my wall!” (more…)

As the fallout over Brazil’s scandal regarding oil giant Petrobas’s continues, the Oscar Niemeyer Museum in Curitiba is receiving 139 works from the collections of Petrobas heads and other involved parties, including pieces by Salvador Dali and Joan Miró.  The majority of work comes from the collection of Petrobras’ former director of services Renato Duque, who stands accused of siphoning off over $3.8 billion from Petrobras. (more…)

Williams College is receiving an impressive gift of contemporary works from the collection of anti-virus software developer Peter Norton, a trove of 68 works including pieces by Tracy Emin, Allan Ruppersberg, and Christopher Wool, among others. (more…)

The Whitney has announced the details for its first exhibition at its newly completed Meatpacking District location. America Is Hard to See will open on May 1st, showing off the vast new exhibition spaces of the Renzo Piano-designed building, and traces the history of the museum alongside the development of American art in the 20th and early 21st century.  “The game changer is the space,” said Donna De Salvo, the Whitney’s chief curator. (more…)

The art collection of late film executive Samuel Goldwyn will go to auction at Sotheby’s in the next few months, spread across nine sales in New York (including May’s Impressionist and Modern Evening Sale) and estimated at a total value of $25 million to $30 million.  “To me, these film pioneers and these artists had the same spirit and energy,” says Sotheby’s Simon Shaw. “The art had to be bold, I suppose, to hold its own in that house.” (more…)

Christie’s Impressionist and Modern Art Sales in New York this May will be lead by a series of works from the art collection of the late John Whitehead, former chairman of Goldman Sachs.  Whitehead built a museum-quality collection over the course of his career, and will offer works from Claude Monet, Vincent Van Gogh, Amedeo Modigliani and Pierre Bonnard, among others, anticipated to bring over $40 million.  “I remained enough of a financier that I took an interest in the prices, and I tried to predict what price an individual piece would go for at auction,” he wrote in his biography. (more…)

MoMA has acquired the iconic Jasper Johns’s work Painted Bronze, a work that has sat in the Philadelphia Museum of Art for three decades, and which was purchased recently by collectors Henry and Marie-Josée Kravis.  Kravis, who serves as MoMA’s Board President, gifted the work shortly after purchase directly from the artist’s personal collection.  “It’s not easy to convince someone who’s kept something for himself for more than 50 years,” says dealer Matthew Marks. “It’s a big deal for him, emotionally. And one can imagine all the people over all the years who have asked, all the institutions, all the collectors who have been told no, since I was a kid.”

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A collection of more than 200 prints by Jim Dine have been gifted to the British Museum, The Guardian reports.  “It is very exciting,” said Museum Curator of Modern Prints, Stephen Coppel.  “It was a very generous offer, given that he has made over a thousand prints.  Choosing was fun. It took some time and there was a lot of backing and forthing, but it is a really great group of things.” (more…)

Donald Fisher, the founder of Gap clothing, is preparing to unveil a sizable portion of his collection publicly for the first time next month at Paris’s Grand Palais.  The collection of 20th century works will be shown next year at the San Francisco Museum of Modern Art, which is currently undergoing major renovations to prepare for it.  “I think we will have more works by artists including Richter and Calder on view at one time than anywhere else in the world,” says curator Gary Garrels. (more…)

The Art Market Monitor has published the letter from investor Mike McGuire of Marcato Capital to Sotheby’s, in which he lays out a plan for a stock dividend and increased returns.  “Despite our dialogue with you and other members of the board, a substantial portion of Sotheby’s invested capital continues to earn a poor return or worse yet, earns noreturn at all,” he writes. (more…)

A group of heirs to a Jewish art dealer have sued the German government over a collection of Renaissance-era artworks valued at $226 million.  The works were reportedly sold under duress during the Nazi rise to power, although hard details about the sale are somewhat murky.   “Any transaction in 1935, where the sellers on the one side were Jews and the buyer on the other side was the Nazi state itself is by definition a void transaction,” says Nicholas O’Donnell, the lawyer representing the plaintiffs in the case. (more…)

The Guardian traces the controversy surrounding Constantin Brancusi’s The Wisdom of the Earth, a sculpture that has long sat at the forefront of the Romanian consciousness as a national treasure, but which is currently being put up for sale by its owners.  “The truth is that it is an iconic sculpture for Romanians; it’s an iconic image that is present in all the books about our national identity. The state used it a lot in its cultural propaganda and transformed it into an icon of the Romanian soul,” says Alexandru Baldea, managing partner of auction house Artmark, which is selling the piece.   (more…)

Despite improved relations between the United States and Cuba, the Art Newspaper notes that the island’s government still refuses to return art seized by the government from exiles during the 1960’s.  “In most of the articles you read about missing art in Cuba, the question is—where is the piece? That’s not my issue. I know where it is, I just can’t get to it. There’s no method of my claimed ownership being adjudicated,” says Javier Garcia-Bengochea, who claims Francesco Guardi’s View of the Lagoon between the Fondamenta Nuove and Murano was seized from a family member’s home.  The painting now sits in the National Museum of Fine Arts in Havana, with no success in getting the Cuban government to return it. (more…)

Rothschild heiress Bettina Burr and her family, holders of a sizable collection of artworks once looted by the Nazi’s during WWII,  have donated a sizable portion of her works to the MFA Boston.  “I always felt in the back of mind that the thing I would love the most would be if these pieces came here,” says Burr, currently vice president of the museum board of trustees. “I think my mother felt that it would be a homecoming for these pieces.” (more…)