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August 2021 Market Intelligence

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Fine art

Amsterdam will return this Kandinsky to heirs after years-long dispute

robbreport.com

Wassily Kandinsky Painting with Houses (1909) will be transferred from the Stedelijk Museum in Amsterdam to the heirs of its original Jewish owners, Irma Klein and Robert Lewenstein. The decision ends a years-long dispute over the painting’s restitution; the work was in the museum since 1940 and is now valued at about $22 million, with the original sale during the Nazi invasion cited in the court rulings.

Fine art

Amsterdam to restitute Kandinsky to heirs after years-long dispute

artnews.com

Wassily Kandinsky painting Painting with Houses (1909) from the Stedelijk Museum will be returned to the heirs of its original Jewish owner, Irma Klein and Robert Lewenstein. The decision ends a years-long legal dispute; the painting was in the Stedelijk Museum collection since 1940 and is valued at about $22 million.

Fine art

Picasso and Basquiat lead auction market comeback

artnews.com

Pablo Picasso and Jean-Michel Basquiat led the comeback in the auction market as Christie’s, Sotheby’s, and Phillips returned to pre-pandemic sale levels across New York, London, and Paris. The period analyzed covers 13 modern and contemporary sales from April through July, totaling $1.7 billion, up from $1.1 billion in 2020.

Richmond violinist owns a 264-year-old violin

richmond-news.com

Valerie Leung reports that Richmond-born violinist Royce Rich owns a 264-year-old Lorenzo Carcassi violin from 1757, loaned to him in 2015, and that the instrument was stolen on public transit in Toronto four hours after his final recording for his debut solo album Short Stories.

Fine art

Amsterdam to return Kandinsky work to pre-war owners’ heirs

localnews8.com

The Amsterdam municipality says it will return the 1909 Kandinsky painting Painting With Houses to the heirs of a Jewish family that originally owned it, resolving years of legal wrangling over the looted work sold at auction in 1940; the painting is currently housed at the Stedelijk Museum in Amsterdam.

Fine art

Amsterdam to return Kandinsky work to pre-war owners’ heirs

apnews.com

Wassily Kandinsky's 1909 painting, Painting With Houses, will be returned by Amsterdam to the Lewenstein family heirs after years of legal wrangling. The painting currently hangs in the Stedelijk Museum and Amsterdam had previously ruled it did not have to be returned, a decision now being overturned.

Fine art

Christie’s Market Update: KEITH HARING’S UNTITLED (1984) WILL BE THE FIRST TANGIBLE ARTWORK TO BE OFFERED BY A MAJOR AUCTION HOUSE IN EUROPE AND THE AMERICAS WITH THE OPTION OF PAYING THE FINAL PURCHASE PRICE IN CRYPTOCURRENCY - Christie's

Christie’s

Christie’s documents the market development behind KEITH HARING’S UNTITLED (1984) WILL BE THE FIRST TANGIBLE ARTWORK TO BE OFFERED BY A MAJOR AUCTION HOUSE IN EUROPE AND THE AMERICAS WITH THE OPTION OF PAYING THE FINAL PURCHASE PRICE IN CRYPTOCURRENCY - Christie's. Its account reports that christie’s has a physical presence in nearly 50 countries throughout the Americas, Europe, Middle East and Asia Pacific, with flagship international salerooms in London, New York, Hong Kong, Paris and Geneva, offering free, public pre-sale exhibitions of objects being offered.

Fine art

Here’s the little-known history of the robin’s egg blue Basquiat painting that stars in Beyoncé and Jay-Z’s new Tiffany ad

news.artnet.com

Eileen Kinsella reports on Tiffany & Co.’s About Love campaign featuring a robin’s egg blue Basquiat painting, Equals pi (1982), reportedly acquired by the Arnault family for a price in the range of $15 million to $20 million. The painting’s blue hue is associated with Tiffany, and Arnault discusses potential homage while the work is slated to appear at Tiffany’s Fifth Avenue flagship.

The world’s most famous violins were treated with a secret chemical mix, study shows

sciencealert.com

The ScienceAlert article discusses how Stradivari and Guarneri violins may have been treated with a proprietary wood-processing method involving chemicals such as borax, zinc and copper sulfates, alum, and lime water to preserve wood and tweak acoustics. The study identifies these substances as part of the treatment mix and notes the treatments were applied through the wood, not just on the surface.

Vilde Frang to now play the 1734 Rode Guarneri del Gesù violin

classical-music.com

Vilde Frang will loan the 1734 ‘Rode’ Guarneri del Gesù violin, procured with the help of violin dealer J&A Beare and the Stretton Society, on a long-term basis. The instrument was created by Bartolomeo Giuseppe Guarneri, known as del Gesù, and has previously been played by Pierre Rode, Norbert Brainin, and Kyung Wha Chung.

Did a worm infestation lead to Stradivari violins' unmatched sound?

futurity.org

The article reports that Antonio Stradivari and others usedChemical treatments such as borax, zinc, copper, and alum, along with lime water, on violin wood to combat worm infestations, which researchers believe contributed to the instruments’ distinctive sound. Joseph Nagyvary discusses the idea, supported by an American Chemical Society review and new Angewandte Chemie findings.

Fine art

The Spanish government seals 115.4 million deal to keep Carmen Cervera’s collection in Madrid for 15 years

news.artnet.com

The Spanish government signed a lease worth €97.5 million ($115.4 million) to keep Carmen Cervera’s collection on view in Madrid for 15 years, with the state obtaining preferential acquisition rights on all or part of the works. The collection includes works by Picasso, Matisse, Monet, Canaletto, among others, and has historically been housed at the National Thyssen-Bornemisza Museum in Madrid.

Fine art

Phillips reports over $542.7 million in first half of 2021, a 25 percent rise from 2019

news.artnet.com

Phillips reported $542.7 million in sales for the first six months of 2021, a 25 percent increase over the same period in 2019. Private sales totaled $90.7 million, up 107 percent from 2019, while auction sales reached $452 million, up 15 percent. The report highlights growth in Asia and notes several “white glove” sales in New York, Geneva, and Hong Kong.

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