Effects of Brexit already beginning to be felt by art market

The effects of Brexit are already rippling through the art market as British artist Jenny Saville set a sales record for her work at Sotheby’s London on Tuesday (28 June).

Buoyed by what one London art adviser described as a “10% discount” on account of the drop in value of the pound, Chinese billionaire Liu Yiqian picked up Saville’s “Shift” (1996-97) for the Long Museum in Shanghai for £6.8 million with buyer’s premium. Last year, Liu made headlines when he purchased Modigliani’s “Nu couché” for £113 million. Continue reading

Sacred artefacts auctioned in the face of protests

A collection of sacred Native American objects was auctioned at Drouot Richelieu, Paris on 31 May in the face of widespread protests from US officials, tribal leaders and the public.

Organised by EVE (Estimations Ventes aux Enchères) auction house, the Art Amerindien, Art Precolombien, Afrique et Oceanie sale offered 314 objects. These included a war shirt made from hair from humans scalps and several Hopi tribal objects. Continue reading