Record Christie’s Auction

alexander calder sculpture

The auction lots may not have been surreal but the prices most certainly were. The Christie’s post war and contemporary art evening sale on Tuesday made a record $744.9 million. That’s close to a billion dollars worth of art sold in one night! If you combine the Monday and Tuesday sales there was $879,574,000 worth of art sold. An $80+ million Francis Bacon and an $84+ million Barnett Newman were the two most expensive lots to sell. How does one start a hedge fund? I think I’m in the wrong game ;-) Continue Reading

American Billionaire Art Addict

alice walton art museum

I think the only good billionaire is an art collecting billionaire but I’m biased, I really like art. Forbes business magazine has declared the Wal-Mart heiress Alice Walton to be the richest American art collector with a fortune of $33.5 billion. In the past few years the billionaire has gone from Sunday collector to all out museum collector!Continue Reading

Gina Rinehart Says Sell Government Art

australia's richest person

Australia’s richest person says the government should sell all its art and decor to pay for essential services. Gina Rinehart, the mining billionaire and richest woman in the world with an estimated net worth of $22 billion, must be so poor that all she has is money. I would much prefer to nationalize the mining resources and create a MASSIVE sovereign wealth fund so that future generations can benefit from the country’s vast, yet non-renewable resources. Not to let a very privileged few piss their wealth into the wind and create a platform to spout ridiculous ideas.Continue Reading

Billy the Kid Note to be Auctioned

billy the kid photo

A note written by the outlaw Billy the Kid will be up for auction at Guernsey’s in the coming week. Signed WH Bonney, it says time is short. Estimates put the letter at between $10,000 and $15,000 but with people like William Koch of the Koch brothers willing to pay $2.3 million for the only remaining photograph of Billy the Kid, you just never know.Continue Reading

Jeff Koons and Dom Perignon Bottle

jeff koons dom perignon bottle design

Two luxury brands are teaming up to provide us with a wonderful discount or they’re out to rob us blind, depending on which way you look at it. If you see it as a 15,000 Euro bottle of bubbly you will feel robbed, but if you see it as an opportunity to buy your own Jeff Koons sculpture you will probably feel like you are getting a bargain at about $20,000 USD.Continue Reading

Dakis Joannou’s Jeff Koons Yacht

The Greek billionaire businessman and art collector Dakis Joannou has had the exterior of his 114 ft luxury yacht designed by Jeff Koons. The owner called his yacht “Guilty” after a Sarah Morris text painting according to the Monaco Eye website.Continue Reading

Steve Wynn’s Insurance Claim for Elbowed Picasso

Towards the end of last year the casino mogul Steve Wynn elbowed his Picasso, which put a hole in the work, and lost him a deal that could have put $139 million in his pocket. Well, now the Las Vegas collector is looking to make an insurance claim worth $54 million.Continue Reading

Steve Wynn Elbows a Picasso

The Las Vegas casino billionaire recently made international headlines after bumping into his painting by Pablo Picasso and putting a hole in it. How pointy must his elbows be to put a hole in the canvas?

He had recently agreed to sell the work for a record $139 million to fellow billionaire Steven Cohen. It would have become the highest price paid for a painting, but Wynn has chose to repair and keep his damaged Picasso painting.Continue Reading

ArtReview Magazine’s Power 100

The ArtReview magazine has released its annual list of one hundred powerful people. There has been quite a bit of movement on the list this year with a whole bunch of people moving up, down, on, and off the powerful 100.

Damien Hirst lost his number one position that he held last year, moving out the top ten to eleventh position this year. The French François Pinault is the most powerful person in the arts industry this year.Continue Reading

Most Expensive Painting by Gustav Klimt

The famous Austrian painter Gustav Klimt has reportedly set a record for the most expensive painting to be sold. The 1907 iconic work “Portrait of Adele Block-Bauer I” has sold for $135 million dollars.
The billionaire cosmetics heir to the Estée Lauder fortune, Ronald S Lauder snapped the painting up to be exhibited in a museum in New York.
The painting was stolen by the Nazis in 1938 from the aunt and uncle of Maria Altmann. Maria only recently became the owner of the painting this year after reclaiming it. The work had been hanging in the National Gallery of Austria for the past 60 years.Continue Reading