Your Weekly Art News (May 14 – May 21)

Your Weekly Art News is a digest of the most important developments coming out of the art world from markets, finance, upcoming shows, exhibitions, and scandals. Here’s what you need to know this Monday, May 14th. 

  • Melbourne-based artist Yvette Coppersmith has been announced as this year’s Archibald Prize winner. Coppersmith is the 10th female artist to cinch the prize in its 97-year history; while in other prize news from the Asia-Pacific British-Pakistani artist and sculptor Halima Cassell was awarded the 14th Sovereign Asian Art Prize at a gala dinner in Hong Kong. 

 

 

  • The sale will go on: Sotheby’s will go ahead with the planned sale of Jean-Michel Basquiat’s 1982–83 painting “Flesh and Spirit,” despite a lawsuit filed by collector Hubert Neumann, which seek approval on “all matters relating to cataloging, placement, and exhibiting each and every work consigned,” by the artist.

“Flesh and Spirit” by Jean-Michel Basquiat, in London last month. Sotheby’s plans to auction the painting on May 16.CreditFrank Augstein/Associated Press

 

  • A Manhattan-based art dealer, Ezra Chowaiki, pled guilty to one count of wire fraud, after being charged with one count of conspiracy to commit wire fraud, one count of wire fraud, and one count of interstate transportation of stolen goods, charges which stem from defrauding art collectors and dealers he had made to buy and sell artwork through his Manhattan art gallery, the office of the United States attorney for the Southern District of New York said in a statement.

 

  • The Frieze art fair will offer “some compensation” to galleries that exhibited at last week’s New York iteration of the fair, due to sweltering temperatures inside its newly configured tent.

 

  • A new tribunal exclusively dedicated to resolving art disputes opens on June 7th in the Hague.  The Court of Arbitration for Art will weigh in on controversial art suits and cases involving international claims, as per The Art Newspaper

The Hague, Netherlands, where the new arbitration court will be launched in June Rene Mensen

 

  • Ahead of a huge Auction week with blockbuster sales coming up at Christie’s and Sotheby’s, Tim Schneider writing in artnet news analyzes data that shows skyrocketing valuations and changing tastes at the market’s peak.

Jussi Pylkkanen, global president of Christie’s, takes bids Pablo Picasso’s Les femmes d’Alger (Version O) at Christie’s on May 11, 2015 in New York City. Courtesy of Andrew Burton/Getty Images.

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