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Where is the “oomph”? Long-term legal battle between billionaire art collectors Ronald Perelman His insurance company finally accepted the trial Art newspaper Report Friday. The case centers on five paintings cy twombly,,,,, Ed Ruschaand Andy Warhol – Worth totaled $410 million. Perelman claims that the works lost their “charm” in the smoke and sprinkler system after the fires in 2018 at his East Hampton Estate. The insurance company objected to the extent of the damage and Perelman’s claims to the extent that he never tried to sell his work. The case raises thorny questions about how the art market evaluates imperceptible damage and subjective value. Perelman’s team cites conservation scientist Jennifer Mass, who believes chemical changes in fires may not be visible yet, but can shorten the lifespan of artworks. Similar debates have surfaced before: in the 1990s, Amsterdam City Prosecutors Daniel Goldreyer About his controversial treatment of Barnet Newman Who is afraid of red, yellow and blue IIIclaiming that it changed the original transparency of the painting. Recent discussions about Leonardo da Vinci Salvator Mundi Focusing on physical damage, it is a major recovery to shape public perceptions, which will impact its record $450 million sales. Perelman’s case also highlights the market sensitivity surrounding art ownership. He used the works as collateral for the loan and sold dozens of them after a margin call, court documents show. As Director of the Assessors Association Linda Selvin Note that long legal procedures may complicate valuations, especially as market conditions shift. The case has more than 1,500 court documents that highlight the uneasy balance between objective standards and subjective values in the art world.
Naked truth? Obviously, President Donald Trump Like painting. according to Wall Street Journalhe made a “sharp sketch” for a naked woman Jeffrey Epsteinconvicted sex offender. The image appears in a leather-combined album edited for Epstein’s 50th birthday, and is covered with weird poems, photos, and information from friends and business partners. According to reports, Trump’s notes read: “Happy birthday – May every day be another wonderful secret”, “Donald” is near the ruthless area of women. Trump denied making pictures and told: “I have never written a photo in my life.” Less than 24 hours after the article was published, he sued Paper and Rupert Murdoch for lying and slander. Then, on the same day, this New York Times A lengthy report details Trump’s long history of graffiti and often sells drawings in various charitable auctions. His sketch of the Manhattan Skyline, which he made in 2005, sold for nearly $30,000 at the 2017 auction.
Digestion
Jennifer Saunders Appointed as New York State Museum In Albany, the first woman to lead an institution that has been around for nearly 200 years, has over 20 million objects in science, history and anthropology. [The Art Newspaper]
this Museum of Fine Arts in San Franciscosupervise de Young Museum and Legion of Honor12 employees have been fired (about 5% of its workforce) due to a decline in attendance and a lack of funds. [San Francisco Chronicle]
Dino Bones and Space Rocks attracted big bids in July: Sotheby’s New York sell Ceratosaurus skeleton $30.5 million and a large Martian meteorite called “NWA 16788” are priced at $5.3 million. [ARTnews]
David Kodansky Gallery and Sam Gilliam Foundation Prosecuted for allegedly “rejecting” the party said of the artist’s real overhanging painting. [ARTnews]
There are about 750 accordions. Ken Hopkins– Known as the “accordion Ken” – Belfast is auctioned, with an estimated range of £10 to £5,000. [BBC]
Kicking
worldwide. Recently, some large galleries have closed in amid slow sales, and many have been linked to political turmoil, global conflict and a wider economic slowdown. but Harper Levinethe New York-based dealer behind Harper’s is taking different steps – he’s in Bangkok. The new gallery (the fifth of Harper) will span 2500 square feet Siam Patuwan Palacethe new headquarters of Siam Motor Group in Central Bangkok, is located at Bangkok Arts and Culture Center and Jim Thompson House. Levine told Artnet News. He is a former writer who traveled through the region in the 1990s and returned regularly after his visit in 2023. “The best part of my recent trip to Bangkok is building close friendships with the core group of Thai collectors,” he said. “Their unparalleled hospitality is a beautiful thing, and so is the way they interact with each other.” The new Bangkok outpost will include exhibition spaces, focusing on consultations for Southeast Asian clients and “holiday programs designed to help travel to art genres,” Artnet Report. The artist’s residents are also planning to start in the second half of 2026. “The cooking scene is on fire, health is prioritized and accessible, and Bangkok is very safe,” Levin added. “It is also very affordable by Western standards.”
