A Glimmer Of Hope For Salander Gallery Creditors

“Bank of America’s First Republic unit agreed to share proceeds from the sale of art with other creditors of the bankrupt Salander-O’Reilly Galleries LLC,” whose owner “has been charged with grand larceny, securities fraud, falsifying business records, forgery and perjury.” The agreement “increases the chances that the roughly 400 unsecured creditors of the gallery … will get something back.”

Madoff Victim Puts A Picasso On The Block

“A collector who lost money in Bernard Madoff’s $65 billion Ponzi scheme is quietly selling a major Picasso painting on Wednesday at Christie’s International in New York. Jerome Fisher, co-founder of the footwear company Nine West Group, has anonymously placed a yolk-yellow, nearly 5-foot-tall 1968 Picasso titled ‘Mousquetaire a la pipe’ on the block, estimated to sell for $12 million to $18 million.” And, yes, he got a guarantee.

The Ups And Downs Of The Art Recession

“With less hope of easy sales, artists could refocus on making difficult, complex, less-marketable art. If you can’t sell, you can’t sell out. We might see fewer attractive paintings with a veneer of substance (Peter Doig might fade from view) and more works that directly address the substance of life (the films of Tacita Dean could take up the slack).”

What’s Wrong With The $250,000 ArtPrize

“It is, I think, a measure of our confused relationship with art if we believe that the general public is better equipped to judge the work of artists than professional juries or peers. Would we pick heart surgeons this way? Architects? Firemen? The ArtPrize reminds me of Komar and Melamid’s spoof surveys of the desirable aesthetic traits of art.”

LA – Home To Drive-By Art

“Although downtown Los Angeles still boasts the city’s densest concentration of traditional public art — the sort of sculpture that dresses up corporate lobbies and courtyards — less likely spots in the greater metropolitan area have become home to what one could call drive-by art.”