Art Industry News is a daily summary of the most important developments in the art world and the art market. Here’s what you need to know this Thursday, March 23.
NEED TO READ
Heiress sues Pearl Lam over Banksy’s work – Karen Lo, an heiress to Hong Kong drinks empire Vitasoy International, is suing the prominent gallerist, alleging Lam failed to deliver Banksy’s 2005 painting Show me the Monet which she bought him for £500,000 ($613,000). Lo accused Lam of falsely stating that she purchased the artwork on Lo’s behalf, according to court documents. (Reuters)
Ezra Chowaiki on the “Gorgeous Cesspool” of the art world – In this first-person account, the New York art dealer sentenced to prison for electronic fraud uncovers the dirty secrets of the art trade and life behind bars. “The company is so secretive and opaque that even though lies and fraud are rampant, no one gets in trouble,” he wrote. (Airmail)
Questionable works donated to the Chicago museum – Some 24 objects from the Art Institute of Chicago’s Alsdorf collection have been found to have incomplete provenance by today’s standards according to an online national registry of museum pieces, including four believed to have been stolen from Nepal and illegally exported. Nepal’s Heritage Recovery Campaign is seeking to repatriate the artifacts, but they believe the Art Institute is blocking the process. (ProPublica)
Expo Chicago Launches Blockchain App – Blockchain company Valence has partnered with the Chicago fair to launch Valence Wallet, a new app that will allow collectors to purchase artwork and other services, including certificates of authenticity, insurance, shipping and payment documents. (ART news)
MOVERS AND SHAKERS
The Liverpool Biennale announces its program – From June 10 to September 17, the 12th edition of the biennale will take place in the northern English port city at new sites and locations, including the historic buildings of Tobacco Warehouse and Cotton Exchange, as well as the Liverpool One shopping center , in addition to existing cultural venues. The full program includes free events and shows. (Press release)
Pace Takes on Estates of Claes Oldenburg & Coosje van Bruggen – The mega-gallery will now exclusively represent the duo of late artists and pioneers of Pop Art. A major exhibition featuring Oldenburg’s drawings and sculptures as well as a catalog raisonné is planned for 2024. (ART news)
NADA gets new members – 18 galleries from 5 countries have joined the New Art Dealer’s Alliance ahead of the ninth edition of the NADA New York art fair in May. New members include Marta (Los Angeles), The Watermill Center (Watermill), Storm King Art Center (New York), O Gallery (Tehran), Xxijra Hii (London) and Saenger Galería (Mexico City). (Press release)
London Assembly calls for new Queen statue – Politicians at City Hall unanimously agreed that a new monument honoring the late monarch should be erected in a “prominent public place”. Earlier proposals suggested using the fourth plinth as the site of the monument. (evening standard)
FOR THE ARTS
We want this Rose Wylie streetwear – The acclaimed British painter has teamed up with the art market platform to launch a limited edition ‘ugly’ hoodie featuring a screen print of the artist’s work Black cat (bone) (study). A total of 150 hoodies will go on sale on April 4. (Surface)
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