Category: Market

Latest Art Market News from Around the World

Amref Health Africa’s ArtBall and Auction Honors Artist Julie Mehretu and the Power of Ethiopian Youth 

On February 25, 2023 at 26 Bridge in Brooklyn, NY, Amref Health Africa will host their annual ArtBall event  and adjoining art auction, creating a connection between African culture and philanthropy to celebrate and  highlight the talent of the African continent. This year Amref Health Africa will honor world-renowned  Ethiopian artist Julie Mehretu with the Rees Visionary Award. 

ArtBall features a Contemporary African, Pan-African, and Black art auction, entertainment, food and  beverages from award-winning Black-owned vendors, an installation, and an award ceremony, and has grown  from just over 300 attendees to nearly 800, with an emphasis on the African diaspora. Notable hosts and guests  have included Solange, Swizz Beatz, Alicia Keys, Chris Rock, Antwaun Sargent, Kimberly Drew, Hank Willis  Thomas, Isolde Brielmaier, Shantell Martin, Nina Chanel Abney, Jack Shainman, Young Paris, and many more. 

T206 Honus Wagner – One of the Rarest Baseball Cards in Existence

Honus Wagner, also known as “The Flying Dutchman” was a professional baseball player who played shortstop for the Pittsburgh Pirates from 1897 to 1917. He is widely considered one of the greatest players of all time and was one of the first five players to be inducted into the Baseball Hall of Fame in 1937. Off the field, Wagner was known for his humility and sportsmanship. He was respected by both teammates and opponents for his gentlemanly behavior and fair play.

One of the most interesting facts about Wagner is that he was the first baseball player to have his own baseball card. The T206 Honus Wagner baseball card is considered to be one of the most valuable and rarest cards in existence.

Rough Diamond Financing – Sarine and DELGATTO Sign Strategic Cooperation Agreement

Until now assessing rough diamonds was an inaccurate subjective process, at best. This, along  with the difficulty in providing unique identification means, reduced their attractiveness as collateral.  The DDFF and Sarine’s groundbreaking cooperation utilizes Sarine’s various proven industry leading technologies, including the Galaxy® and DiaExpert® platforms along with the Advisor® and  related software processes, to accurately, objectively and rapidly evaluate rough diamonds, as well  as uniquely tagging them, with the result being the ability to reliably ascertain the optimally produced  polished diamonds’ potential value, and hence confidently provide financing. The DDFF will apply  Sarine’s technologies to evaluate if the rough diamond is eligible for the requested financing, and  at what level. 

Top 5 Most Expensive Paintings Ever Sold

leonardo salvator mundi

When it comes to the world of art, some pieces command truly staggering prices. These works represent the pinnacle of human spending power, and are treasured by investors, collectors, and art lovers alike.

The top 5 most expensive artworks ever sold are a testament to the enduring value of art. From the masterful brushstrokes of Leonardo da Vinci to the bold color fields of Mark Rothko, these works hold more capital than some banks.

In this article, we will take a closer look at the most expensive artworks ever sold, examining the artists, the works, and the prices they fetched at auction or private sale. So, whether you’re a seasoned collector or simply an art enthusiast, read on to discover the most valuable artworks in history.

What Does World’s Best AI ‘ChatGPT’ Say About NFTs? …Everything!

As promised, The World Art News is continuing its art exploration of the World’s Leading Artificial Intelligence system ‘ChatGPT’.

This time we decided to find out what it knows about NFTs, and as it turns out, this AI knows pretty much everything, including some funny jokes that you can find at the end of this article.

Keep in mind that this entire text was written by a machine, we just asked it the right questions and added some headlines, so without further ado here are the results of our fascinating conversating with ChatGPT.

Sarine signs an MOU to acquire a majority stake in New York’s Gem Certification & Assurance Lab (GCAL)

Hod Hasharon (Israel), 11 January 2023 – Singapore Exchange Mainboard listed Sarine Technologies Ltd (“Sarine” and along with its subsidiaries “the Group”) (U77:SI; SARN.TA), a worldwide leader in the development, manufacturing, marketing and sale of precision technology  products for the evaluation, planning, processing, measurement, grading and trading of diamonds  and gems, is pleased to announce the signing of a non-binding MOU to purchase, subject to the  usual due diligence reviews and to reaching and executing a definitive agreement, a majority share  of GCAL against an all cash consideration.

The Gem Certification & Assurance Lab, Inc. GCAL is a highly respected gemological laboratory  founded in 2001 by Mr. Don Palmieri, a veteran of over 50 years in the diamond industry, and his  wife, Pamela. Today, it operates as a family-owned business in New York City, on the city’s famous  Diamond Way, at the corner of Fifth Avenue and 47th Street, with son Angelo in the role of Chief  Operations Officer (COO). GCAL provides services for the grading and certification of natural and  lab-grown diamonds, coloured diamonds, coloured gemstones, pearls and precious metals.

What does World’s Best AI ‘ChatGPT’ think about Top Art, Antiques, and Collectibles? We Asked!

The World Art News asked the World’s Leading Artificial Intelligence system ‘ChatGPT’ to write an article about top art, antiques, and collectibles. In less than a minute we received a shockingly good art story written entirely by a machine! We did not edit a single word or punctuation. This is what the AI wrote:

“Art as an investment has been a popular choice for centuries, with many investors purchasing pieces by well-known artists with the hope of selling them at a higher price in the future. The art market has seen some significant booms in recent years, with the value of certain artists and pieces skyrocketing. However, it’s important to note that the art market can be highly speculative and illiquid, and values can fluctuate greatly. The art market’s value is also often driven by the market sentiments, trends, and the demand for certain artists.”

Is Art Financing Terrorism?

Art and terrorism seem to be worlds apart, however what most people perceive as heritage and culture – criminal organizations see as cold hard cash. Cash that is hard to trace and very easy to move undetected through any borders of any country.

First crucial point to understand is that when we are talking about art, we do not mean your local flea market ‘stuff’. Nor do we limit ourselves to just paintings. We are talking about high-end ‘movable cultural property’ consisting of art, antiques, and collectibles … very expensive art, antiques, and collectibles. Items that by far exceed a $100,000 dollars benchmark.

Second point to understand – there are lots of them, everywhere, in every country, city, and town. In fact there will never be a shortage of them. With the latest modern art hype the market literally became a factory. These modern creations are breaking multimillion dollar records at top auctions around the world.

The Modigliani Affaire

The death of Amedeo Modigliani and of his devoted partner Jeanne Hebuterne starts one of the most emblematic stories of the Art Market, which will lead the works of the unfortunate Tuscan artist to be subject of an “exceptional enterprise of economic revaluation”.

The acme of the speculative operation has been reached with the auction award for 170,405,000 US dollars of the “Red Nude”, which previously belonged to Gualino Collection and to Feroldi Collection and then in 1950 was acquired by the art collector Gianni Mattioli thanks to the interest of his cousin, Fernanda Wittgens, the then Director of the Pinacoteca di Brera.

The valorization of Modigliani’s Work thus began in the ‘50s on both sides of the Atlantic Ocean: in Europe activities revolved around “Il Milione Gallery” in Milan and in America around Museum of Modern Art in New York.

Top 5 Best-Performing American Artists of 2022

This article shows a selection made by MutualArt of the Top 5 US Artists of 2022 due to their performance in sales and exhibitions of their work. The top performers are:

1. Andy Warhol (1928 – 1987)

Andy Warhol was an American Postwar & Contemporary artist who was born in 1928. In 2022 he achieved sales for 570,207,409 USD

Numerous key galleries and museums such as Hamburger Bahnhof, Museum of Contemporary Art have featured Andy Warhol’s work in the past.

Since 1998 the record price for this artist at auction is 195,040,000 USD for “Shot Sage Blue Marilyn” which sold at Christie’s New York in 2022. 

Learn more about the other best-performing American artists of 2022.