Showing results 37 - 37 of 37 for the tag: Auctions.

March 7, 2009

The perils of art auctions

Posted at 12:08 pm in Similar cases

Many disputed artefacts only appear above the radar during the rare moments when they change hands. As a result, it is hardly surprising, that the relatively light regulation of auction houses is also brought to the fore when various parties are making claims that they are dealing in potentially stolen property.

From:
The Times

March 7, 2009
Richard Morrison on art auctions
Chinese sabotage at Christie’s is a warning to every owner of antiquities

One man’s terrorist, it’s often said, is another man’s freedom-fighter. Happily, there was no violence at Christie’s “auction of the century” in Paris last week. But the fury of the reactions to an act of sabotage by an incensed Chinese bidder has rocked the arts world.

The sale was of the late Yves Saint Laurent’s art collection. It went for a cool £330 million. But £28 million of that won’t be paid. It was the winning bid for two 18th-century bronzes, once part of a set of 12 animal figureheads on a water-clock in the Summer Palace outside Beijing. The fountain must have been rather cute in its prime. Each animal in turn spouted water for two hours a day. Then at noon all 12 would effusively spray in aquatic unison.
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