Art Industry News: London Art Gallery Sells Classic Masterpieces From Italian Museums As NFTs + Other Stories

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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 Friday, February 11.

NEED TO READ

How the Brooklyn Museum conquered the fashion shows – The Brooklyn Museum’s senior curator of fashion and material culture, Matthew Yokobosky, has developed a playbook for building theatrical blockbusters about Dior and David Bowie that can rival the glamor of the Met. Her advice: Approach the design of the space with an architect’s eye and make sure it’s Instagrammable. “People who buy a ticket to ‘Dior’ could buy a ticket to a movie, a museum or a sporting event for the same price,” he said. (New York Times)

More galleries open in Los Angeles – Lisson Gallery has announced plans to open a space in Los Angeles later this year. It’s the latest in a string of galleries investing in West Coast operations: Sean Kelly will open in the spring, Pace has acquired Los Angeles stalwart Kayne Griffin, and New York gallery the Hole is opening its doors. doors in Los Angeles on February 15. (FinancialTimes, Press release)

Museums benefit from digital copies – Four Italian museums are selling digital facsimiles of masterpieces including Raphael Madonna of the Goldfinch and Leonardo’s Portrait of a musician to raise funds for the preservation of the actual works. The replicas will be displayed on screens of the same dimensions as the originals at the Unit Gallery in London and will be sold as NFTs in editions of nine, priced from £100,000 to £500,000. Participating institutions include the Uffizi Galleries in Florence and the Pinacoteca di Brera in Milan. (The arts journal)

Josh Baer on scaling – Josh Baer, ​​art advisor and newsletter scribe, launched his art world newsletter Baer Faxt in 1994 as a literal fax – a fax! Now he is finally growing after selling a minority stake in his company to an investment bank. It has now launched an underbid database, video content and on-demand advisory services for $3,000. “I got to a point where I could just kind of stay uphill,” he said. “You know, I’m 66 now. I thought to myself, ‘Do I just want to play the chord or am I trying to make it more interesting?’ » (FT)

MOVERS AND SHAKERS

Pace will represent Hermann Nitsch – Pace nabbed the provocative Austrian artist, who will have his first exhibition with the megagallery in New York in 2023. Nitsch, who often incorporates blood, carcasses and gore into his work, is also represented by the Nitsch Foundation and the Gallery Kandlhofer in Vienna. . (ART news)

The Belgian museum restores a painting looted by the Nazis – The Royal Museums of Fine Arts of Belgium have returned a painting looted by the Nazis from Lovis Corinth to the heirs of its former Jewish owners. Flowers was stolen from the Mayer family after fleeing Germany during World War II. (DW)

Sadie Coles will provide a privileged space for young dealers – Sadie Coles has transformed a street-facing space in her London gallery, which she previously used for storage, into a usable exhibition space that she will rent out at low prices to young dealers. (FT)

Prince Charles tests positive for COVID after museum visit – Prince Charles is in self-isolation after testing positive for Covid-19 for the second time. The news came shortly after visiting two London museums, the National Gallery and the British Museum. (The arts journal)

FOR ART

Space Diamond sold for $4.3 million in crypto – The dubious ‘enigma’ black diamond claimed by Sotheby’s may have fallen from a space sold for $4.3 million to an anonymous online bidder, who opted to pay in cryptocurrency. The diamond, which baffled some experts, came with an estimate of $4-7 million. (National geographic)

The Enigma, a 555.5 carat black diamond. Courtesy of Sotheby’s.

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