Posted on: September 26, 2018 by Holly Woodhouse
Hedge funds are competing with a consortium of British museums to purchase 5,500 artefacts salvaged from the Titanic, which sank on its maiden voyage in April 1912 with the loss of 1,500 lives. The current owner of the artefacts, Premier Exhibitions, is selling them after filing for bankruptcy in the United States in 2016. The […]
Posted on: March 12, 2018 by Holly Woodhouse
The Australian Financial Review recently reported the collapse of Mossgreen Auction House, which has left the Australian art market reeling and industry insiders calling for reform. The auction house is now being wound down after failed attempts to restructure the company. Founded in 2004 by British-born Paul Sumner, Mossgreen Auction House and Gallery quickly grew to […]
Posted on: May 29, 2014 by Hélène Deslauriers
The City of Detroit is bankrupt. It owes $18 billion, including $3.5 billion in pension obligations. But the City of Detroit also owns the Detroit Institute of Arts (the ‘DIA’), which houses one of America’s richest art collection, the sixth largest in the USA. It boasts works by Degas, Van Gogh, Matisse, Brueghel the Elder and the […]