Tag: Sotheby’s

ART WAR: Russian Billionaire Dmitry Rybolovlev vs. Sotheby’s in Epic $232.5 Million Art Fraud Trial

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In a high-stakes legal showdown gripping the art world, Russian billionaire Dmitry Rybolovlev accuses renowned auction house Sotheby’s of orchestrating an elaborate art scam that cost him millions. The trial, underway in the United States District Court for the Southern District of New York, has thrust the secretive dealings of the art industry into the spotlight. Rybolovlev, with a net worth of $11.5 billion, made headlines as he pursued legal action against Sotheby’s, alleging collusion with Swiss art dealer Yves Bouvier to inflate prices on four rare artworks, including the iconic “Salvator Mundi” attributed to Leonardo da Vinci.

A Comprehensive Guide to Contemporary Art Acquisition: Mastering the Art Market with Confidence

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For many the allure of the contemporary art is unparalleled. The moment you acquire your first piece, you step into a world brimming with cutting-edge creativity, modern expressions, and a vibrant pulse on the current artistic landscape. Embarking on your exploration of high-end contemporary art necessitates a comprehensive immersion into this sophisticated realm. Commence your journey by dedicating time to rigorous research, delving into the multifaceted layers of the contemporary art landscape.

Top 5 Best-Performing American Artists of 2022

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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.

Takeaways from a Record-Breaking Early Auction Season

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Collection sales dominated headlines of another record-breaking fall auction season, while the emerging market feels the pressure of economic worries.

With art market prices soaring as of late, recent blue-chip auctions were projected to reach significant high-flying, record-breaking heights. Not only did these lots deliver, but in some instances their price tags surpassed their monumental estimates. The highly anticipated Paul Allen collection, the personal assortment of paintings and sculptures owned by the late Microsoft co-founder, blew past the $1 billion estimated value, which already would’ve made his collection the most expensive ever sold.

While some say the results of the Phillips auction suggests a cooling of the market, works of personal collections, especially those hidden from public view for prolonged periods of time are doing exceedingly well.

Sotheby’s Successful NFT Auction of ‘MetaSkull’ Collection Brought Over $665K for Famed Contemporary Artist Jacky Tsai

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Jacky Tsai and Froyo Games, a Web3 GameFi platform, announced the successful auction sale of “MetaSkull 元宇宙骷髅”(1/1001), the first digital art NFT in the MetaSkull collection, which is a series consisting of 1001 unique NFTs created with generative art programming. The auction was hosted by Sotheby’s – a Xperience Digital Art Auction, with the unique skull motif’s final bid concluding at USD $7,700 (HKD $60,480). 

The combined auction proceeds from Mr. Tsai’s digital artworks amounted to USD $665,832 (HKD $5,226,480), with a total of 5 lots sold – including Jacky’s impressive “Golden Years”, which sold for USD $321,036 (HKD $2,520,000).

METASKULL NFT DROP | Renowned Digital Artist Jacky Tsai and Froyo Games Launch Skull Art NFTs for Metaverse

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Jacky’s first digital project was an NFT titled “Chinese Floral Skull, Lot 37” that sold at Sotheby’s auction for $302,400 US, which was the highest price paid for an NFT designed by an Asian artist.

Jacky Tsai, a London-based and Shanghai-born modern contemporary artist, is pleased to announce “MetaSkull Collection 元宇宙骷髅”, his inaugural Skull Art NFT collection that features the artist’s iconic skull motif designs.

Mr. Tsai worked in collaboration with Froyo Games, a Web3 gaming platform with extensive video-game development experience globally, to develop and launch the MetaSkull Collection, which is geared for the metaverse.