Oprah Sells Famed Gustav Klimt Portrait for $150 Million

Sarah Cascone, February 8, 2017 Gustav Klimt, Adele Bloch-Bauer II (1912), detail. Courtesy of the Neue Galerie. Oprah Winfrey made a pretty penny selling Gustav Klimt‘s Portrait of Adele Bloch-Bauer II (1912) for $150 million in 2016, reports Katya Kazakina for Bloomberg. The buyer is allegedly an unidentified Chinese collector, who pulled

The Problem with Art Funds

Artsy editorial by Anny Shaw. The idea of art as an investment vehicle has been gaining momentum in recent years, and with it a proliferation of art funds. The first fund dates back to 1974, when the British Rail Pension Fund invested in more than 2,500 works of art over

Here Are 11 All-Important Things to Do Before Leaving Art School

by Loney Abrams for Artspace Graduating from art school means transitioning from the comfort of campus-provided studio space, access to production facilities, and a climate of constant feedback, criticism, and support to... well, having zero of those things. Abstaining from these perks cold-turkey can feel like quite the plunge—but luckily there

The Top Auction Moments of 2016

Henri Neuendorf for Artnet News At the top end of the market 2016 was a year of consolidation and return to normality, and whilst sales volume was lower than in 2015, the high-profile evening auctions in New York and London did not pass by without excitement. Here we summarize the top

Art Basel in Miami Beach Parties You’ll Never Get Into, 2016 Edition

by Eileen Kinsella and Sarah Cascone for Artnet News We’re well aware the snark factor is high—at least a ten—but after several years of extensive coverage it has become an artnet News tradition to tell our readers which Miami parties you’d die to be on the guest list for, but are sadly…

Art Basel Miami Beach 2016 Party Guide

Though the 2016 edition of Art Basel Miami Beach will have its share of hurdles to clear, the party announcements are already coming in strong. Take a look below at our current list of things to do. It's early, and we'll update this story as more parties come across our

The Alternative Art School Fair Debuts at Pioneer Works

by Juliet Helmke for BLOUIN ArtInfo Pioneer Works, the Red Hook, Brooklyn-based art space that opened in 2012, has, since its inception, put its educational functions front and center—perhaps even more so than the regular exhibitions and performances it hosts. Alternative means of creating, displaying, and discussing art have also often

Ai Weiwei Is Having A Huge New York Moment With Four Simultaneous Shows

by Eileen Kinsella for Artnet News Given that it is all but unprecedented for an artist to have four simultaneous gallery shows opening on the same day, it is fair to say that Ai Weiwei is having a New York moment this fall. Fortuitiously, this moment comes four years after he was arrested

Judge Rules $6 Million Lawsuit by Buyer of Jeff Koons Sculpture Can Proceed

By Brian Boucher for Artnet News A judge in New York Supreme Court has ruled that London dealer Fabrizio Moretti’s $6 million lawsuit against David Zwirner can go on. Justice Barry Ostrager dismissed two charges of fraud and one of “promissory estoppel,” a legal concept in which promises are enforceable by

19 Art Galas and Benefits to Get Excited About in November

by Sarah Cascone for Artnet   As the year draws to a close, the art scene is busier than ever, with a packed schedule of high-end art benefit events taking place in New York throughout the first two weeks or so of November. Recommended: Why Are Portraits of Women More Valuable Than Portraits of