Art finance

Financial arrangements regarding the buying and selling of art have their roots in old-school pawnbrokers. Practices have greatly developed over the years and now encompass art loans and guarantees underwritten by auctioneers or third parties.

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Russian art sales suffer from flatter demand

07 December 2015

The latest Russian art sales in London posted the weakest results in over a decade as a drop-off in both demand and supply brought a further downturn in the market.

Cultural property law to be debated in German parliament

30 November 2015

The German Cultural Property and Heritage Protection Law (Kulturschutzgesetz) is due to be debated in the German Bundestag next spring after a “defused” draft of the law received cabinet approval on November 4.

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Major lots help generate over $2bn total in New York auction fortnight

16 November 2015

The large sums of money changing hands at the top end of the Impressionist, Modern and Contemporary art market was underlined at the latest auctions in New York.

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Results for Taubman collection question level of guarantee

09 November 2015

The hefty guarantee paid out by Sotheby’s to secure the Alfred Taubman collection meant the stakes were running high for the first and most financially crucial tranche of the four-part auction staged at Sotheby’s New York.

Paddle8 secure $34m funding boost

02 November 2015

Online auction site Paddle8, who recently took space in Mayfair, have secured $34m in new funding.

Views on the market ahead of Asia festival

20 October 2015

Ahead of the 18th staging of ‘Asian Art in London’ (November 5-14) – and against a backdrop of a slowdown in the Chinese economy – we invited senior members of the dealing fraternity to give their views on the market and their expectations for the event.

Bruno sells as 1stdibs raise new funding

17 September 2015

Online dealer marketplace 1stdibs has raised between $50m and $60m from venture capitalists Insight Venture Partners, Fortune magazine reports.

Ex-CEO charged over antiques sales: dealer implicated

11 September 2015

An American businessman has been charged in a New York court accused of applying improper valuations to items sold from his art and antiques collection.

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Sotheby’s guarantee $500m Alfred Taubman collection

07 September 2015

The collection of the late A Alfred Taubman is to be offered in a series of sales in New York, starting this autumn.

Sotheby’s weaker results show effects of painting ‘anomaly’

17 August 2015

Sotheby’s share price dropped by over 8% earlier this month after the company posted some weaker-than-expected second quarter results.

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Wedgwood Collection on display after £34m Barlaston museum redevelopment

10 August 2015

The Wedgwood Collection has gone back on public display now a £34m museum redevelopment is complete.

London numismatists urge clients to oppose German Cultural Property law changes

04 August 2015

Coin specialists AH Baldwin & Sons are encouraging their customers to sign the petition opposing an amendment to the controversial German Cultural Property and Heritage Protection Law.

Showground exhibitors must pay VAT on pitch rentals

30 July 2015

Exhibitors at British showground fairs must pay 20% VAT on pitch rentals, a tribunal has decided.

Art dealer sentenced for paintings fraud

24 July 2015

An art dealer from Cornwall has been sentenced after pleading guilty to seven counts of fraud relating to the sale of fake paintings, including works he claimed were by Alfred Wallis (1855-1942).

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Luba lights up Christie’s Exceptional sale at £5.4m

13 July 2015

This striking 2ft 1½in (64.4cm) high Luba figural bowstand made c.1880 by the Warua Master was the runaway star of London’s high season sales.

Mayfair art agent accused of multi-million-pound swindle

10 July 2015

Mayfair art agent Timothy Sammons is facing a string of legal claims over soured multi-million-pound deals in the United Kingdom and the United States involving paintings by Van Gogh, Canaletto, Picasso, Chagall, Modigliani and Magritte.

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Cranach the Elder leads Sotheby’s Old Master sale at £8.2m

08 July 2015

Sotheby’s evening sale of Old Master and British paintings was led by Lucas Cranach the Elder’s La Bocca della Verità (The Mouth of Truth) which made a major auction record when it was knocked down at £8.2m.

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Contemporary art week: some bumps on the record road

06 July 2015

The latest series of Contemporary art auctions in London posted a bumper total despite the failure of some big-ticket lots.

FAB pricing model

23 June 2015

The divergence in charges between the FAB model and the traditional model grows exponentially as prices rise. However, as this series of examples show, there is a lower threshold of around $5000 below which it is less cost effective.

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Thin sales indicate slump in Russian market

08 June 2015

The slump in the Russian art market was laid bare last week. The total for the latest auction series in London was a third of the equivalent sales in 2014.



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