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Hair Salon Owner Found Beauty in $30 Million...

Myron Kunin had an eye for beauty. He built his parents’ department store hair salons in Minneapolis into a global company that included Supercuts, Vidal Sassoon and Jean-Louis David. Kunin, the founder of Regis Corp. who died last year at 85, also amassed a collection of African art valued at $20 million to $30 million that Sotheby’s will auction Nov. 11 in New York, the biggest estimate ever for an African art sale in the U.S.

08:49 | 11/10/2014more
Chinese Art Sales Tallied $8.5 Billion in 2013 on...

A pair of Chinese porcelain vases fetched $1.2 million; a 7-inch-tall celadon vase sold for $2.3 million and a bronze Buddha statue went for $485,000 -- all blowing past their presale estimates many times over. So went the buying spree during Asia Week in New York this week as Chinese dealers and collectors packed the salesrooms and snapped up pieces of their cultural heritage. Auctions at Sotheby’s, Christie’s, Bonhams and Doyle New York are expected to tally $95 million.

08:46 | 11/10/2014more
Giacometti Chariot Leads $500 Million Trophy Art...

In what is shaping up to be another blockbuster auction season in New York, 10 artworks that are heading to Sotheby’s and Christie’s next month are valued at almost $500 million combined. Among the trophies is Alberto Giacometti’s chariot sculpture, estimated at more than $100 million at Sotheby’s, and a pair of Andy Warhol’s paintings of Elvis Presley and Marlon Brando that are expected to fetch $130 million at Christie’s.

08:41 | 11/10/2014more
Collector Gets 422 Million AmEx Points With Cup...

A Chinese collector who bought an ancient Chinese ceramic cup for a record HK$281 million (US$36 million) at auction in April got an unexpected bonus when he paid for it today: almost 422 million American Express points. Liu Yiqian, who used his Centurion Card to pay for the cup from Sotheby’s Hong Kong, hadn’t even thought about the rewards until he was contacted by Bloomberg News.

08:33 | 11/10/2014more
Hong Kong Protests Panic Auction Houses on Eve of...

Auctioneers including Sotheby’s, Christie’s, Poly Auction, China Guardian, and Bonhams are gearing up to go head-to-head in Hong Kong next week in a series of high-estimate sales. Sotheby’s will kick off its season on October 4, taking over one floor of the Hong Kong Convention and Exhibition Centre (HKCEC). However, the HKCEC was crowded this morning not by collectors and dealers, but by Hong Kong protesters and government officials. In celebration of China’s National Day on October 1, an official flag-raising ceremony took place at the Golden Bauhinia Square, which is adjacent to the HKCEC.

08:25 | 11/10/2014more
Fallen Class-Action Lawyer Mel Weiss to Sell...

Melvyn Weiss, the millionaire class-action attorney who was felled by illegal kickbacks, is selling more than 140 lithographs, etchings and other works of art by Pablo Picasso. Weiss and his wife, Barbara, have pledged the artwork to the financial services unit of New York-based Sotheby’s, according to a Sept. 23 New York state regulatory filing. Barbara Weiss, in an interview last week, said the couple planned to put the art up for auction. She declined to comment further.

08:22 | 11/10/2014more
Sydney Launches Interest-free Scheme to Buy Art

Plans are in motion to launch an interest-free art purchase scheme in Sydney, along the lines of Own Art in the United Kingdom and the one other Australian program, Collect Art, which runs in Tasmania. The scheme will let art buyers borrow between AUD$750 and $20,000, which they must repay in 10 installments over 10 months. Works can only be bought from participating galleries, and, to be eligible for a loan, buyers will need to pass a credit check—which can be done online in the gallery.

08:18 | 11/10/2014more

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