The Creator Of Brazil’s Outdoor Museum Has Been Sentenced To Nine Years In Jail

Contemporary art museum creator Bernardo Paz, “an eccentric and celebrated figure in Brazil’s art scene, was accused of using money raised abroad for Inhotim for expenses related to a conglomerate of mining and steel companies he ran. Mr. Paz’s sister, Virgínia de Mello Paz, was also convicted in the scheme and sentenced to five years in prison.”

Stabilization? Met Museum Cuts Its Projected Deficit, Adds To Endowment

“Where a shortfall of $15 million had been projected for the fiscal year 2017, which ended in June, that figure was contained to $10.1 million, according to the report, and the Met said it is on track to eliminate its deficit by 2020. In addition, the museum’s endowments increased by almost $300 million, to a total of $2.9 billion; and the Met said it raised $232 million in philanthropic gifts, membership dues and government support.”

What Place Do Art Fairs Have In Art-Rich Berlin?

“Yet another fair feels like a car company offering another new model: there are already more than enough different cars, besides other options like bicycles, trains and planes. But, like the possibility of a new and really interesting car model entering the stage—an electric one, for instance—there’s always a chance of a new and really interesting art fair showing up. Anything truly innovative could of course change my calendar.”

Memphis College Of Art Says It Will Close

The final decision had been made two weeks earlier, spurred by a combination of declining admissions — down by 35% just this year, according to High Ground Memphis — increasing real estate debt, and the school’s small endowment fund. Tuition at the school is $35,000 per year. While many remain optimistic that the school could remain open, it would take a miraculous $30 million endowment donation to make this possible.

So, When Are We Going To See The First Billion-Dollar Painting? (Probably Not For A While)

Some people are asking that very question following the record-smashing sale of Leonardo da Vinci’s Salvator Mundi for $450 million. But there were some special factors at play here that are unlikely to be repeated – as Robin Pogrebin reports, “the artwork achieved an unprecedented price because it was an unprecedented piece.”

Last Missing Piece Of Magritte Painting Found After 85 Years

“The enigma of The Enchanted Pose, which depicts side-by-side female nudes, began decades ago. It is listed in the comprehensive catalog of Magritte’s works, but its location had been marked as ‘unknown’ since 1932. Magritte, who died in 1967, never said anything about its fate.” Turns out he cut it into four, painted over the pieces, and sold them as separate paintings. They were all hiding in plain sight, as it were, and the last of the missing quarters has now been identified.