Tag: Investment

Gagosian Says There’s ‘No Truth’ in Rumors of LVMH Investment – ARTnews.com

Gagosian, the world’s biggest art gallery, has refuted rumors that it is in talks with French luxury goods conglomerate LVMH Moët Hennessy Louis Vuitton. Talk of a potential deal between the two has wide been widely circulating among market experts, with the Art Newspaper’s Italian edition and Artnet News running articles that mentioned the murmurings. The rumors suggested that LVMH was reportedly in talks ...

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STEM investment brings state-of-the-art college labs to Anglesey

Brand new laboratories have been unveiled at Coleg Menai’s campus in Llangefni, as part of a £1.9m project to improve science, technology, engineering and maths (STEM) facilities for college students. Grŵp Llandrillo Menai has secured over £1.2 million pounds from Welsh Government’s ‘21st Century Schools and Colleges Programme’ towards an ambitious project to upgrade 10 laboratories across three of its campuses. £386,000 has also ...

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Artory and Winston Art Group Announce Damien Hirst Artwork Investment Opportunity with Republic

NEW YORK--(BUSINESS WIRE)--Artory and Winston Art Group (“Artory/Winston”), a first-of-its-kind joint venture that is creating unique investment opportunities in the art market, announced today an opportunity with investment platform Republic. Both accredited and retail investors can invest in Damien Hirst’s Psalm 116: Dilexi, quoniam. This important artwork was selected based on expert valuation, due diligence and verification of provenance. In this inaugural opportunity, Republic ...

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Dealers Make a Long-Term Investment in the Hamptons’ Budding Art Scene – ARTnews.com

Each summer, New Yorkers depart the city for the Hamptons, heading there for beaches, drinking, and ritzy dining. This past Memorial Day weekend, something else was drawing Manhattanites as well: the art scene of the Hamptons, which over the past two years has been transformed. There has always been an art scene in the Hamptons, but never before has it seemed quite so vibrant. ...

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Getty Lawsuit Claims Investment Firm ‘Recklessly’ Lost $71 M. in Funds – ARTnews.com

The J. Paul Getty Trust, a nonprofit that oversees the Getty museum complex in Los Angeles, is suing the financial services firm Allianz Global Investors, alleging that the company “recklessly” mismanaged the trust’s investment fund, resulting in “significant losses” for the organization’s endowment. In a filing in the U.S. District Court for the Southern District of New York from March 3, the Getty Trust, ...

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With Local Investment and Rising Auction Prices, Is the Democratic Republic of Congo Poised to Become Africa’s Next Art Hub?

A man wearing a silver suit and silver bucket for a helmet walks down a busy dirt street in a ghetto in Kinshasa. This is just an ordinary day in the Democratic Republic of Congo (DRC)’s capital and most populous city of 17 million, and the Kongo Astronaut, with his suit plastered with digital debris made from minerals mined in Congo, has become an ...

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Art is now accepted as a financial asset, but it is still a questionable investment

We live in very different times, and one sign of the changed landscape is a general acceptance of art as a financial asset. The latest research from Deloitte and ArtTactic finds that 85% of wealth managers believe art and collectibles should be part of their client offering. In 2014, the equivalent survey found that just 53% were on board.One question is, what exactly does ...

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Leon Black to Depart Investment Firm Amid Jeffrey Epstein Controversy – ARTnews.com

Amid controversy over his alleged ties to the late Jeffrey Epstein, Leon Black, a private equity investor well known in the art world for his collecting and patronage of museums, will depart the firm that he cofounded. The Wall Street Journal reports that Black, who currently serves as the chair of New York’s Museum of Modern Art, plans to leave Apollo Global Management Inc. ...

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