DIRS.INFO The most relevant business & tech news

☆ Klimt’s ‘last masterpiece’ sells for record-breaking $108.4 million
▼ + stars: | 2023-06-14 | by ( Oscar Holland | Jacquelyn Palumbo | ) edition.cnn.com time to read: +5 min

“Dame mit Fächer” was one of two paintings found at the Austrian artist’s studio upon his death in 1918, according to Sotheby’s. A work the artist had started a year prior, in 1917, “Dame mit Fächer” is rendered in Klimt’s characteristically rich, expressive style. "Dame mit Fächer" (right) pictured in Klimt's Vienna studio in 1918. "Dame mit Fächer" became Klimt's highest-selling artwork at auction. Klimt’s “Portrait of Adele Bloch-Bauer I” was meanwhile bought by US businessman Ronald Lauder for a reported $135 million in 2006.

Persons: Gustav Klimt, Fächer ”, Klimt, Paul G, Allen, “, —, Sotheby’s, Thomas Boyd Bowman, ”, De Agostini, Helena Newman, Newman, Erwin Böhle, Rudolf Leopold, Dmitry Rybolovlev, Yves Bouvier, Adele Bloch, Bauer, Ronald Lauder, Oprah Winfrey, Alberto Giacometti, Edvard Munch Organizations: CNN, Microsoft, Austrian, De Agostini Editorial, Financial Times, Bloomberg, UBS, Art Locations: London, Birch, Hong Kong, Klimt's Vienna, Viennese, Sotheby’s, Austrian, Covid

☆ Art Basel’s New Chief Is All About the Brand
▼ + stars: | 2023-06-12 | by ( Scott Reyburn | ) www.nytimes.com time to read: +1 min

“People are ever more driven by experience, and people are ever more driven by brand,” said Horowitz. “They buy at a major auction house, but they also buy from Art Basel galleries because we’re a brand.”Horowitz’s appointment, announced in October, came as a surprise. He replaces the formidable Marc Spiegler, who oversaw the growth of the fair brand for 15 years and was widely regarded as one of the art world’s most influential figures. Horowitz returned to Art Basel from Sotheby’s, where he had a 13-month spell as the head of gallery and private dealer services; before that, he spent six years as Art Basel’s director of the Americas, in charge of the Miami Beach fair. “When I left Art Basel two years ago, one of the difficult things was not knowing what impact James and his partners would have as stakeholders,” said Horowitz.

Persons: ”, Horowitz, “, Marc Spiegler, James, Murdoch Organizations: Art, Art Basel, Miami Beach, Prix, Basel Locations: Art Basel, Sotheby’s, Americas

☆ I went sober in my mid-20s and became more confident at work and less anxious
▼ + stars: | 2023-06-06 | by ( Sarah Wood | ) www.businessinsider.com time to read: +7 min

Sarah Wood, 27, says she drank to fit in socially and at work events even as it made her anxious. How stopping drinking affected my work lifeStopping drinking was a personal decision, so I never considered how it might affect my work life. Sobriety made my life at work better tooFeeling as if I could bring my whole self to work and be accepted for it further boosted my confidence. I strongly believe that sobriety has only positively affected my work life. Sobriety hasn't hurt my work life, but that's only my experience.

Persons: Sarah Wood, Wood, —, I've, Eager, Goldman Sachs, I'm, hadn't, they'd Organizations: Service, College, Art Basel Locations: New York, New York City, Miami

☆ Madonna's 'Sex' photos go to auction for the first time at Christie's
▼ + stars: | 2023-05-12 | by ( Carlie Porterfield | ) edition.cnn.com time to read: +5 min

Prints of photographs from Madonna’s wildly popular 1992 coffee table book “Sex” will be available for purchase for the first time at Christie’s New York this fall, part of ongoing projects to mark the 30th anniversary of the controversial publication. In October, over 40 prints first published in “Sex” will go up for sale as part of a special standalone auction. “Thirty years on, ‘Sex’ is still somewhat controversial, but it still reads as a very body-positive, sex-positive book,” Himes said. “Sex” also featured Madonna’s then-boyfriend, rapper Vanilla Ice, and stars like supermodel Naomi Campbell and socialite Tatiana von Fürstenberg. The prints will go on display at Christie's galleries in London, Paris and New York before the October auction.

☆ Opinion | The Met Gala, or When Fashion Consumes Art
▼ + stars: | 2023-05-01 | by ( Natasha Degen | ) www.nytimes.com time to read: +1 min

The Met Gala began in 1948 as a $50 fund-raising dinner. The fanfare surrounding the event takes center stage: celebrity selfies, red-carpet gossip and attention-seeking fashion stunts. The Met Gala is perhaps the most high-profile example of a much broader phenomenon: the accelerating convergence of art and fashion. It raises millions for the Met ($17.4 million last year) and generates more “media impact value” than the Super Bowl. Michael Burke has called the Met Gala “the pinnacle of our business.”

☆ The Art Market Is All About the 0.1%
▼ + stars: | 2023-04-07 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

Billionaires’ selective taste in art means they tend to compete for the same works. The art market is starting to look like a painting that has too much of the action crammed into one corner. Artworks worth an estimated $67.8 billion were sold globally in 2022, according to a report this week from art-show organizer Art Basel and UBS . Although the industry had already made a full recovery from the pandemic by 2021, it seems to be cooling. Last year’s 3% growth was lower than expected.

☆ Masks off, beer poured at Hong Kong Rugby Sevens after COVID restrictions dropped
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

[1/2] The general view of Hong Kong Stadium during the first day of the Hong Kong Sevens tournament in Hong Kong, China November 4, 2022. The Hong Kong leg of British music festival Creamfields is also taking place on April 1-2. The Chinese special administrative region has hosted financial summits in the past two weeks as well as Art Basel Hong Kong, one of Asia's leading contemporary art fairs. Scores of events were cancelled, postponed or taken to other Asian cities such as Singapore, Bangkok and Seoul because of Hong Kong's rigid coronavirus rules. "Over 20% of tickets purchased in the public sale are coming from overseas audiences, signalling Hong Kong’s return is in full swing."

HONG KONG, March 28 (Reuters Breakingviews) - In the biblical parable of the prodigal son, a repentant wastrel returns home to a forgiving and beneficent father. In China, Alibaba (9988.HK) founder Jack Ma's homecoming and rehabilitation appears to be part of an official campaign to revive flagging private sector investment. However, if officials believe the mere sight of Ma in public will revive business confidence, that hope has a whiff of desperation. Ma the prodigal entrepreneur has returned, but perhaps not for long. Shares of Alibaba rallied as much as 4% in Hong Kong following the SCMP report before closing flat at HK$85.25 on March 27.

☆ I Visited Miami After the Stock Market Crash, Crypto Bubble Pop
▼ + stars: | 2023-03-26 | by ( Linette Lopez | ) www.businessinsider.com time to read: +13 min

And if any city is the city where you can see just how remarkably things have shifted, it's also Miami. If the draw in the 1920s was imaginary land, Miami's bubble in the 2020s was driven by imaginary money — crypto. The newcomers — and the crypto kids, especially — believed they could master Miami as easily as they had mastered the markets. The new Miami money party started to run out of libations. "There were a lot of true believers in the Miami crypto scene.

☆ Hong Kong sharpens fine art edge over Singapore
▼ + stars: | 2023-03-24 | by ( Thomas Shum | ) www.reuters.com time to read: +3 min

HONG KONG, March 24 (Reuters Breakingviews) - Chinese collectors are piling into Hong Kong for Art Basel this week. As the financial hub jostles with rival Singapore, its vibrant art market could help it grab a bigger slice of Asia’s wealth management pie. The cream of that crop tends to go on the block in Hong Kong. Hong Kong is hardly out of the economic woods. But the chattering crowds at Art Basel should remind investors that the city retains a profitable artistic edge.

☆ Wealth managers ramp up staff in Hong Kong to chase Chinese demand
▼ + stars: | 2023-03-24 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

HONG KONG, March 24 (Reuters) - Wealth management firms are expanding operations aggressively in Hong Kong to meet pent-up demand from rich Chinese individuals looking to invest more money overseas after three years of COVID-19 curbs, industry sources said. Noah Holdings (NOAH.N), the largest independent wealth management firm in China, was among five private banks and wealth management firms Reuters talked to that said they held client events in the city and organised private art tours. Hywin Holdings (HYW.O), another Chinese wealth manager, invited 30 ultra-high-net worth clients to workshops, fund manager visits and even a yacht party in Hong Kong last week. Chinese financial institutions are vying for this growing wealth management business in Hong Kong. Chinese Everbright Bank and Hua Xia Bank set up private banking departments in Hong Kong in the past few months, according to sources familiar with their plans.

☆ Hong Kong government announces measures to lure wealthy family offices
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, March 24 (Reuters) - Hong Kong's government announced a series of measures on Friday to attract wealthy family offices to set up in the financial hub as authorities try to restore business confidence and investor allure after three years of severe COVID-19 rules. "The policy statement demonstrates our determination to develop Hong Kong into a leading global family office hub," Paul Chan, the city's financial secretary said. Chan said this would help bolster Hong Kong's financial sector as well as areas including technology, green, arts and culture and philanthropy. City leader John Lee said last year that he had set a target of attracting 200 large family offices to set up in Hong Kong by 2025. Hong Kong's push to attract wealthy families comes as many wealthy individuals and companies shifted to rival financial hubs such as Singapore after Beijing's imposition of a national security law on Hong Kong in 2020.

☆ Crowds swarm Art Basel Hong Kong as galleries report sales bonanza
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +2 min

[1/3] An installation titled "Calligraphic Wig" by Daniel Knorr is displayed at Art Basel in Hong Kong, China, March 23, 2023. Art Basel Hong Kong is one of the first big events the city has held since dropping its COVID-19 mask mandate this month. City authorities are welcoming the art fair as they try to reinvigorate the economy and promote Hong Kong as a vibrant cultural hub. Teresa Choi, a visitor from Macau, said Hong Kong was much busier than during COVID times. "Hong Kong has always been the international financial hub for Asia ... Travellers are regaining their confidence about Hong Kong and the economy and want to come."

☆ Hong Kong heiress sues gallery owner Pearl Lam over Banksy painting
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

HONG KONG, March 22 (Reuters) - An heiress of the Hong Kong beverage giant Vitasoy International (0345.HK) is suing prominent gallery owner Pearl Lam, saying she has paid 500,000 pounds ($613,000) for a Banksy painting that was never delivered, according to a court writ filed this week. The 2005 painting by the British artist is a "remix" of a masterpiece by Impressionist painter Claude Monet. It was sold at a Sotheby's auction in October 2020 for more than 7.5 million pounds, far above an estimated sale price of 3 million pounds to 5 million pounds. Lam is one of more than 170 gallery owners participating in Art Basel Hong Kong this week. Reporting by Farah Master and Anne Marie Roantree; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Tyrone SiuHONG KONG, March 21(Reuters) - The organisers of Art Basel Hong Kong, one of Asia's leading contemporary art fairs, said on Tuesday they are bullish on art market prospects in the region, with China and Hong Kong now having lifted all COVID lockdown restrictions. The annual fair, which also has iterations in Basel, Paris, and Miami Beach, runs from March 23-25 in Hong Kong. "Despite the challenges of the pandemic, the Asian art market has also remained resilient, with Greater China accounting for 20% of worldwide sales by value and ranking second as the second largest regional art market in the latest edition of the Art Basel," Art Basel CEO Noah Horowitz told reporters. Leading international galleries at Art Basel this year include Gagosian, Hauser & Wirth, Lehmann Maupin, Victoria Miro, Pace, Perrotin, White Cube and David Zwirner. We haven't really changed the process of the show since 2013," said Angelle Siyang-Le, the director Art Basel Hong Kong.

HONG KONG, March 21 (Reuters) - The screening of "Winnie the Pooh: Blood and Honey", a British slasher film due to be released in Hong Kong this week, has been cancelled after cinemas in the city declined to show it, its distributor said on Tuesday. These 30+ screens in Hong Kong are the only ones with such issues." Beijing imposed a national security law on Hong Kong in 2020 cracking down on dissent after the city was rocked by anti-government, pro-democracy protests a year earlier. Two films were dropped from Hong Kong's international film festival last year after failing to get approval from authorities. The cancellation comes as Hong Kong hosts the Art Basel contemporary art fair, with authorities eager to promote the city as a vibrant cultural hub.

☆ After building a $105 million lingerie startup, this founder is pivoting to energy drinks by tapping her community and male mentors
▼ + stars: | 2023-01-11 | by ( Alexandra York | ) www.businessinsider.com time to read: +5 min

Michelle Cordeiro Grant launched Lively in 2016 and sold it three years later for $105 million. "Nobody talks about the fact that it's OK to graduate at some point," Cordeiro Grant said. On January 11, Cordeiro Grant launched the energy-drink startup GORGIE in hopes of creating a wellness product that filled the void of female voices in the energy-beverage industry, she said. Insider spoke with Cordeiro Grant about her transition from bras to beverages and the lessons, tools, and people she's taking with her for her next venture. This is an as-told-to story based on an interview with Cordeiro Grant that has been edited for length and clarity.

☆ The hottest holiday gift is a massive, half pound Fruit Loop
▼ + stars: | 2022-12-17 | by ( Zoe Sottile | ) edition.cnn.com time to read: +3 min

CNN —Just in time for the holidays, artist collective MSCHF is releasing its newest playful art piece: a giant, 930-calorie, $19.99 fruit loop. The unauthorized massive fruit loop is the group’s latest lighthearted experiment with consumerism. Each one weighs “almost half a pound,” according to MSCHF’s website for the product. In an emailed statement, Kellogg spokesperson Kris Bahner told CNN that the “Big Fruit Loop” constitutes copyright infringement. “Kellogg Company does not have a relationship with MSCHF and we were not involved in the creation of the Big Fruit Loop.

☆ FTX t-shirts and swag were stashed away in trash bags during Miami's Art Basel, and some crypto diehards took them home as souvenirs
▼ + stars: | 2022-12-08 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +3 min

The Solana Embassy, once backed by Sam Bankman-Fried, gave away free FTX t-shirts at Art Basel. Among the stash were close to 1,000 FTX Miami t-shirts, FTX bean bags, a framed Miami Heat jersey that featured an FTX logo, and a signed poster of chess grandmaster Magnus Carlsen who took part in an FTX-sponsored tournament. Solana tweeted about its events in Miami and said it had "about 1,000 FTX Miami shirts to get rid of." The t-shirts were originally only supposed to be free for those who opened FTX accounts at the Solana Embassy. The Solana Embassy previously housed an FTX Lounge, and the exchange was its biggest financial sponsor, according to Norby.

☆ An ATM art installation mocks wealthy Art Basel guests by ranking their bank balances on an arcade-like leaderboard
▼ + stars: | 2022-12-02 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

An ATM at Art Basel Miami Beach is ranking users' bank balances with photos of them. Of the 93 ATM users seen in one recording, the bottom eight had $0.00. Daniel Greenberg, MSCHF co-founder, told CNN that "ATM Leaderboard' is an extremely literal distillation of wealth-flaunting impulses." The art collective chose the Miami location because "there is a dense concentration of people renting Lamborghinis and wearing Rolexes." And because the leaderboard keeps a continuous record, MSCHF hopes that they can show the ATM at more events as well.

An ATM installation at Art Basel Miami Beach is displaying and ranking people's bank balances. An ATM is typically used in conjunction with a checking account, which would mean people have tens of thousands — even millions — readily accessible. A checking account shouldn't hold all your moneyA checking account is only one part of a smart banking setup. One checking account is for bills, and the other is for spending via debit card. One savings account is for your emergency fund, and the second is for other goals.

☆ Art Basel Miami Beach Plays It Safe in the Sun
▼ + stars: | 2022-12-01 | by ( Brian P. Kelly | ) www.wsj.com time to read: 1 min

Miami Beach, Fla. The Miami area has always been known to push boundaries. It serves as a financial gateway to the Americas and dared to put the Key lime into a pie. It arguably invented the hurricane party and had no small role in America’s 1980s cocaine habit. Which makes the risk-averse nature of 2022’s Art Basel Miami Beach especially surprising.

☆ New contemporary art event boosts Paris scene
▼ + stars: | 2022-10-20 | by ( Elizabeth Pineau | ) www.reuters.com time to read: +4 min

A visitor walks past the "Buste de Diego" (1961) by artist Alberto Giacometti as Paris+ par Art Basel international contemporary art fair opens in Paris, France, October 19, 2022. The event, "Paris+ par Art Basel", was awarded to Art Basel, one of the giants in the art world, which hosts fairs in Switzerland as well as Miami and Hong Kong. Contemporary art, dating roughly from 1945 onwards, made up 23% of the art market in 2020-2021, compared with 3% in 2000-2001, according to the Artprice data bank. The Paris event replaces the International Contemporary Art Fair (Fiac) and follows the high-profile Frieze fair in London. Paris is the only big city in the continent, the only important city for contemporary art, so it was an obvious choice," Kilchmann told Reuters.

☆ Musk and Brin: A brief history of the billionaires' friendship leading up to rift caused by an alleged affair
▼ + stars: | 2022-07-24 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Google cofounder Sergey Brin was a longtime friend and investor of Elon Musk. Musk and Brin often spent time sharing ideas with Google cofounder Larry Page, Vice reports. Wall Street Journal reports Musk had an affair with Brin's estranged wife in 2021. Brin, a Tesla investor, provided the struggling company with $500,000 during the 2008 financial crisis, according to WSJ. Brin reportedly acknowledged the gesture but still doesn't speak to Musk regularly, the Journal says.

Search resuls for: "Art Basel"

24 mentions found