Can Chinese Art Stay Hot?

(NEWSER) - Herb and Dorothy Vogel had just modest incomes—he was a postal clerk, she a librarian—but over four decades they acquired more than 3,600 drawings, paintings, and collages from America's leading artists. They collected so much that they had to stuff works under their bed. But now the Vogels' one-bedroom apartment has been cleaned out, and their works have been scattered: 50 each to 50 museums across the country plus another 1,100 to the National Gallery in Washington. More»

Police stake out whistleblower's studio, shut down blog

(NEWSER) - The Chinese artist who has made investigating the deaths of children in the Sichuan earthquake a personal crusade is facing a government crackdown, reports the CBC. Ai Weiwei's widely read blog has been deleted, and plainclothes police officers are staking out his studio in Beijing. Ai has relaunched his blog on an American server but said, "I don't know how long it will last before it is blocked." More»

Merkin unloads art, but buyer's identity a mystery

(NEWSER) - Ezra Merkin, the financier who pumped billions of his clients' money into Bernie Madoff's Ponzi scheme, is selling more than 10 paintings by Mark Rothko and two sculptures by Alberto Giacometti for $310 million, reports the Wall Street Journal. Some of the proceeds may go to his defrauded investors, who include charities and nonprofits. More»

Collector says he bid $36 million on antiquities as protest

(NEWSER) - Among the most closely watched lots at last week's Paris auction of Yves Saint Laurent's art collection were two imperial Chinese bronzes that each sold for $18 million. Beijing spent months insisting that the sculptures were looted in the 19th century and should be returned to China, but failed to block the sale. Yet the country might have the last laugh, reports the Wall Street Journal—the winning bidder was a Chinese collector who is refusing to pay. More»

Top financier predicts sharp downturn in market

(NEWSER) - The exploding art market may be about to deflate: New York’s flurry of contemporary art fairs last week had surprisingly good sales in light of the economic times, reports Portfolio, but the president of one of the nation’s most active lenders against art predicts a sharp downturn from last year’s incredible $12 billion sales—and a "flight to quality" that could leave emerging artists in the cold. More»