Ten artists found a way to make vacant commercial space incredibly exciting. I wandered by 25 Central Park West on a walk in my neighborhood a few days ago and saw artists inside. They were hard at work cleaning, preparing and hanging their pieces. Tapping on the window was one of my smartest moves this week. By doing so, I learned of a new exhibition, which opened Wednesday night. The show, 10 from 25: Emerging Artists using Photography, is set to run through December 13, 2009. It includes flat art and video, bringing to life an empty space in a part of Manhattan generally forgotten by the art community.

The artists, including Bess Greenberg, who gave me a tour of the space as she and the other artists prepared for opening night, have created an integrated show that doesn't sacrifice the message of each of the participants. So, in addition to a group exhibition, visitors are treated to 10 individual efforts, in which one can appreciate a specific style without having to cope with the intrusion of other pieces on his experience.

Gallery: 10 from 25: Emerging Artists using Photography

Continue reading 25CPW: Artists Turn Empty Upper West Side Space into Den of the Aesthetic

Filed under: Art

25CPW: Artists Turn Empty Upper West Side Space into Den of the Aesthetic originally appeared on Luxist on Fri, 20 Nov 2009 15:00:00 EST. Please see our terms for use of feeds.

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The three boats that once belonged to Bernie Madoff generated more than a million dollars for victims of his $65 billion Ponzi scheme on Tuesday. Seventy bidders registered with National Liquidators to chase after the boats, along with a Mercedes and another yacht owned by Madoff's CFO, Frak DiPascali.

"Bull," which was Madoff's 55-foot yacht, sold for $700,000, with the 38-foot "Sitting Bull" following at $320,000 and the 24-foot "Little Bull" fetching a mere $21,000. His 1999 Mercedes Benz CLK 320 convertible was good for $30,000, despite the fact that it has only 12,827 miles on it. The top seller was DiPasclai's 61-foot 2003 Viking sport fishing yacht, which sold for $950,000 at the auction.

The sales were helped along by the fact that Madoff took excellent care of his yachts. Bob Toney, president of National Liquidators, told Bloomberg News, "Mr. Madoff has taken better care of his yachts than anyone else I know," continuing, "they were crew-maintained all the time."

Gallery: Bernie Madoff's Little Bull

Gallery: Bernie Madoff's Sitting Bull

Gallery: Bernie Madoff's The Bull

Filed under: Auctions

Madoff Bull(s) Worth More than $1 million originally appeared on Luxist on Wed, 18 Nov 2009 00:01:00 EST. Please see our terms for use of feeds.

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Look for the Zino Embassy Selection in a gorgeous burgundy box, and the 10-count size does make this cigar a tad more accessible to the full range of cigar smokers. Crack open the box, and you can admire the new black and gold Zino band that has been designed for the occasion.

Filed under: Cigars

Davidoff Introduces Zino Embassy Selection Perfecto originally appeared on Luxist on Tue, 17 Nov 2009 15:01:00 EST. Please see our terms for use of feeds.

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The latest "Bull" from Bernie Madoff is about to be unloaded. His yacht, which bears that name, will join two others under the gavel, and the action before the sale is already impressive. So far, 29 people have thrown down the $100,000 deposit needed to gain a ticket to the party, and the U.S. Marshals Service expects more registrations to come.

There's a theme in the both names. His largest yacht, a 55-foot 1969 Rybovitch sportfisher is called "Bull," and the other two, a 38-footer and a 24-footer, are named "Sitting Bull" and "Little Bull," respectively. Also, Frank DiPascali's 61-foot Viking fishing yacht will be auctioned off on Tuesday. DiPascali was Madoff's CFO.

Non-maritime lots to wind up on the block include a 1999 Mercedes-Benz CLK 320 convertible, with only 12,800 miles on it.

The auction has not been given a presale estimate, figuring that the Madoff name can push prices higher. This is exactly what happened over the weekend, when an auction of the felon's personal effects brought in north of $1 million.

Says Jennifer Crane of the asset forfeiture division of the U.S. Marshals Service, "You can't really put a price on this."

Gallery: Bernie Madoff's Little Bull

Gallery: Bernie Madoff's Sitting Bull

Gallery: Bernie Madoff's The Bull

Filed under: Auctions

Madoff Bull to Flow at Marshals Auction originally appeared on Luxist on Mon, 16 Nov 2009 21:01:00 EST. Please see our terms for use of feeds.

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The Phillips de Pury auction on Thursday night raked in what once would have come from a single painting. Despite parading out pieces by Andy Warhol, Jeff Koons and Richard Prince, the sale was good for a mere $7 million, with individual lots moving for prices in the hundreds of thousands of dollars. Thirty-nine went under the gavel, and eight didn't sell.

The Chelsea auction house lacks the savvy, knowledge and reach of Sotheby's and Christie's, so it had to lean on British art collector Charles Saatchi, who has agreed to complete most of his transactions through Phillips de Pury. In trade, subsidies from the auction house help keep access to Saatchi's gallery free.

Roughly a dozen of the lots came from Saatchi, while the others are said to have been rejected by Sotheby's and Christie's. In general, the pieces were "pretty skimpy," according to Manhattan art dealer Edward Tyler Nahem, who observes that the auction house "did pretty well with what they had."

Japanese artist Yayoi Kusama was the top seller, with her painting "Infinity Nets (T.W.A.)" busting past its high-end presale estimate of $400,000 and settling at $842,500 (including fees). Kusama's performance follows a well-hyped exhibition at the Gagosian Gallery this year.

Continue reading Phillips de Pury Auction Worth the Price of a Painting

Filed under: Auctions, Art

Phillips de Pury Auction Worth the Price of a Painting originally appeared on Luxist on Sat, 14 Nov 2009 09:01:00 EST. Please see our terms for use of feeds.

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According to Bloomberg News, the told investors, "If we enter hyperinflation, you're going to be so glad that you bought that stuff two months or six months ago." He added, "If inflation picks up, you're going to see people running into your stores, buying high jewelry."

Will inflation cause a mob to form outside the Cartier store on Fifth Avenue? Well, I don't think I'd worry too much about the pushing and shoving, but being ready to throw an elbow probably isn't a bad idea.

Of course, Rupert has something to gain - his company, Richemont, is the world's second largest luxury goods maker (behind LVMH). In his talk with investors in the company controlled by his family, he forecasted "normal growth" with luxury sales showing signs of recovery this month and next.

Continue reading Stock up on Jewelry: Hyperinflation on the Way

Filed under: Jewelry, Lux Tips

Stock up on Jewelry: Hyperinflation on the Way originally appeared on Luxist on Fri, 13 Nov 2009 19:00:00 EST. Please see our terms for use of feeds.

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Nothing compares to the perfect pairing of champagne and a cigar. Too often, cigars wind up with dark liquors, their natural partners. Rum, port, scotch and cognac are the norm for an after-dinner smoke -- not champagne. With the holiday season coming, of course, the preferred beverage will likely bubble, so finding the right cigars for the top libation will be crucial.

Fortunately, Vin Lee, CEO of the Beverly Hills Cigar Club, has agreed to help us out. As you prepare for the new year, take a look at the cigar and champagne pairings that he recommends, with both ubiquitous and rare products on the list. Lee says, "In this day and age, not everyone can afford a $50 cigar and a $300 bottle of champagne," said Lee. "Complementing a wonderful glass of champagne with a great cigar for the holidays is something everyone should be able to enjoy."

BHCC's 2010 Top 10 Champagne and Cigar Pairings are:

Continue reading Ten Champagne and Cigar Pairings for the Holiday Season

Filed under: Cigars, Wine

Ten Champagne and Cigar Pairings for the Holiday Season originally appeared on Luxist on Fri, 13 Nov 2009 10:02:00 EST. Please see our terms for use of feeds.

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The Christie's crowd on Tuesday may not have been ready to shell out big bucks for Andy Warhol's "Tunafish Disaster," but the crowd at Sotheby's was more than happy to by a boatload of currency. The top pop artist's "200 One Dollar Bills" found a buyer for a monstrous $43.8 million at the Sotheby's art auction in New York on Wednesday.

Pauline Karpidas, an art collector in London, offered the piece, Bloomberg News reports but wasn't able to verify with the collector herself. It looks like she scored with this one. "200 One Dollar Bills" carried a presale estimate of $8 million to $12 million, which didn't last long.

The piece consists of what its title states: 200 real-sized one dollar bills reproduced in black on grey ... and with a blue replica of the Treasury Department seal. If they were real cash, the sale price was greater by a factor of 219,000.

This wasn't the only success of the evening, and overall, the outcome was fantastic. Only two of the 54 lots failed to find new homes, and the final number, $134.4 million, thrashed the presale estimate of $97.7 million.

Filed under: Auctions, Art

Sotheby's Wins with Warhol originally appeared on Luxist on Thu, 12 Nov 2009 06:01:00 EST. Please see our terms for use of feeds.

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Bernie Madoff

The Manhattan home, on the Upper East Side, offers 4,000 square feet which the broker, Sotheby's International Realty, says is "perched atop a distinguished white-glove prewar cooperative." Originally offered at $9.9 million, the asking price has been slashed by $1 million. So, if you're looking for some new digs in the city, this should be perched atop your list. A 10 percent price drop after only two months in the game means that you could probably work the price down a little bit further. If you were a Madoff investor, think of it as recouping some of what was so wrongly taken from you.

The situation in Palm Beach, Florida isn't much better. The discount is only 7 percent, with the price plunging from $8.49 million to $7.9 million according to the Corcoran Group, which is handling the sale. This home is billed as "a return to classic Florida island living ... when Palm Beach was a less manicured tropical paradise." What does that mean? Does classical Florida island living have anything to do with defrauding the neighbors?

Madoff, now a resident of Butner, North Carolina, believed that the Manhattan apartment was worth only $7 million. He pegged the Palm Beach residence at $11 million.

When both properties move, the proceeds will go to Madoff's victims. Of the $65 million, roughly, that he took, $1.4 billion is said to have been recovered. Even when compared to the investor losses identified, $21.2 billion, it's but a drop in the bucket. The auction scheduled for Saturday may help a little bit, with Bernie's Mets jacket and Ruth's golf clubs going under the gavel.

Gallery: Bernie Madoff In New York City

Filed under: Real Estate Developments

Remaining Madoff Homes Already Discounted originally appeared on Luxist on Thu, 12 Nov 2009 05:02:00 EST. Please see our terms for use of feeds.

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Christie's

The Basquiat piece, "Brother Sausage," was offered anonymously by a buyer later revealed by Bloomberg News to be Peter Brant, an art collector based in Connecticut. The piece may be a casualty of his divorce from model Stephanie Seymour. Well, it won't be financing post-marital discord and could remain a contested asset for a while.

Warhol's "Tunafish Disaster" was projected to move for up to $8 million and, like the Basquiat painting, didn't receive any bids. Art dealer Robert Mnuchin of L&M Arts was stuck taking it home.

Yet, some works beat the odds in an auction that raked in $74.2 million, within the presale range of $61.5 million to $88 million. Nonetheless, this was the lowest result we've seen from a Christie's New York contemporary art effort since May 2003 and down 81 percent from the top of the market two and a half years ago.

Continue reading Basquiat and Warhol Fail Christie's

Filed under: Auctions, Art

Basquiat and Warhol Fail Christie's originally appeared on Luxist on Wed, 11 Nov 2009 22:01:00 EST. Please see our terms for use of feeds.

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Kapernekas, a 49-year-old art dealer, agreed to drop the lawsuit over the weekend in exchange for custody of the daughter she had with Brandhorst, a one-time $100,000 payment, a $500,000 trust for their daughter's education, a loft in Soho (worth around $5 million) to be held in the daughter's name and $640,000 to cover her legal expenses. She'll also get $5,000 a month in child support.

As part of the deal, Kapernekas will be able to sell an Andy Warhol painting she received from Brandhorst. It's a heart-shaped blue and red piece called "Candy Box Open" from 1983. She has chosen Sotheby's in London to handle the sale, and it could go for $40,000. She won't be able to sell another Warhol, "Heart," because it belongs to her daughter.

Continue reading Two Hirsts Dodge Day in Court

Filed under: Art

Two Hirsts Dodge Day in Court originally appeared on Luxist on Wed, 11 Nov 2009 01:01:00 EST. Please see our terms for use of feeds.

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Celebrate if you own an Ed Ruscha print. At a Bohnams and Butterfield's auction last week, excited bidders pushed Standard Station (E.5) past its high estimate of $40,000 ... all the way to $170,000 and a new record for Ed Ruscha's work. The previous top spot for Ruscha was $133,000 for Hollywood, which was attained during the art boom in 2007.

The record-setting piece features a red gas station, an image now associated with Ruscha, and is #33 in an edition of 50 (a pretty large run). The strong auction performance follows an enormous retrospective held for the artist at London's Hayward Gallery and recognition by Americans for the Arts with its Artistic Excellence Award.

But, there's no prize so grand as an outstanding performance at auction.

Filed under: Auctions, Art

Ruscha Print Sets New Record for Artist originally appeared on Luxist on Sun, 08 Nov 2009 15:01:00 EST. Please see our terms for use of feeds.

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Of course, it's nice to have a comfortable room, but when you really want to unwind, you're looking for the spa. The Radisson Blu in Monastir has a 150,000-square foot facility in the Royal Elyssa Spa Cinq Mondes & Thalasso, with a 48,000-square foot Thal'ion Thalasso center that specializes in restorative treatments using seawater. The spa facilities are set to open early next year and will also have a fitness club and salon. The saunas, hammams and treatment rooms are great, but you'll want to get to the top floor, where you'll find 20 spa suites, many of which will boast private Jacuzzis.

Gallery: Radisson Blu Resort & Thalasso, Monastir, Tunisia

Continue reading Relax at the Radisson Blu Resort in Tunisia

Filed under: Journeys

Relax at the Radisson Blu Resort in Tunisia originally appeared on Luxist on Sat, 07 Nov 2009 07:01:00 EST. Please see our terms for use of feeds.

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The Sotheby's auction was packed with notoriety. Conde Nast's top dog, S. I. Newhouse Jr., sent some work under the gavel, as did Louis Reijtenbagh. Artwork by Giacometti, Picasso and Renoir was sold. Sixty-six lots were offered, with only 10 failing to sell.

New York art dealer Helly Nahmad told Bloomberg News, "The art market is back," but that may be premature. Bidders were chasing the high-quality pieces, and it is tempting to believe that what auctioneer Tobias Meyer calls "a year of abstinence" is over. The fact that the Sotheby's auction was so much greater than that at Christie's, though, makes me want to see a few more sales before calling it a trend.

Continue reading Sotheby's Triples Christie's Result, Top Estimate Beat

Filed under: Auctions, Art

Sotheby's Triples Christie's Result, Top Estimate Beat originally appeared on Luxist on Thu, 05 Nov 2009 15:01:00 EST. Please see our terms for use of feeds.

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Starwood Hotels & Resorts veteran Barry Sternlicht is looking for real estate to surge in Greenwich, Connecticut. The wealthy New York City suburb got spanked over the past year as the city's financial industry gurus saw their bonuses jobs disappear and flooded the market with ostentatious homes on the market at a time when buyers were few and far between. A year later, Sternlicht thinks this town is ready to stage a comeback.

Sternlicht just raised the asking price on his 5.8 acre estate in Greenwich to $5.95 million, even though the local market is about to finish its worst year in the past 30. Jean Ruggiero, Sternlicht's real estate broker, said he pushed up the asking price because "we felt like we were giving it away." People showed some interest in the home, and the fact that other sellers were cutting prices didn't mean that Sternlicht had to follow. "Just because people are lowering their price doesn't mean it's right, because he's not a desperate seller, "Ruggiero said of Sternlicht.

The new number is 8.3 percent higher than the $5.495 million Sternlicht previously asked, even though prices for single-family homes in Greenwhich dropped 40 percent year-to-date.

Originally, the home was put on the market at $8.25 million in June 2008, and it was cut three times from September 2008 to April 2009. It boasts a tennis and shuffleboard court, pool and guest house ... and is of course gated.

Even at $5.95 million, Sternlicht will come out ahead. He bought the place in November 1994 for a mere $2.93 million.

Gallery: Barry Sternlicht in Greenwich

Filed under: Estates

Real Estate Guru Has High hopes For Greenwich Digs originally appeared on Luxist on Thu, 05 Nov 2009 06:05:00 EST. Please see our terms for use of feeds.

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Sotheby's

Nicholas Chow of Sotheby's told Bloomberg News, ""We've seen a really aggressive push from mainland Chinese collectors during the last season of sales" and that "they're buying things at the very highest level." An Imperial jade seal, for example, moved for GBP3.6 million on Tuesday, six times the high-end presale estimate.

On November 3, Christie's sold an aggregate GBP5.7 million, beating the presale estimate of GBP5.2 million. Of the 319 lots, a third didn't move. The top seller was an eighteenth century enamel model of a Buddhist shrine, which beat its presale range of GBP60,000 to GBP80,000 with a hammer sale of GBP229,250. Nine of the top 10 most expensive items went to buyers from Asia.

Collectors from mainland China are quite eager to repatriate art and other objects from their heritage, particularly the Qing and Ming dynasties ... a fact of which the auction houses are fully aware. Christie's sent 210 invitations to mainland Chinese for its 12th annual Asian Art in London event, which ends November 7, 2009. Sotheby's pursued a similar number of collectors. Bonhams has invited 30 new buyers from mainland China.

In October, the Sotheby's Hong Kong art auction was good for $170 million, with plenty of bidding and buying by mainland Chinese buyers.

Filed under: Auctions, Art

Asian Art Goes under the Gavel in London this Week originally appeared on Luxist on Thu, 05 Nov 2009 05:02:00 EST. Please see our terms for use of feeds.

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Hannah Barraclough, from Koryo Tours, writes, "We are very pleased to announce that thanks to your help we managed to raise an amazing EUR9000 which means we have been able to complete both of these projects and have surplus funds to go towards even more worthwhile projects next year - more info about these coming soon." She continues, "We (and the Korean children) are really so grateful to all of you who donated money. If any of you have been meaning to donate but haven't yet then please go ahead as it will go towards our future charity projects."

Yes, this was a "small money" charity event by the standards of Luxist, but I did hear that our readers made a noticeable difference. So, the least I could do is share with you the impact.

Filed under: Charity

Blind North Korean Kids Will Get Their Braille Books! originally appeared on Luxist on Wed, 04 Nov 2009 18:02:00 EST. Please see our terms for use of feeds.

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Pinchuk, a steel billionaire, is an avid collector, with pieces by Jeff Koons, Damien Hirst and Andreas Gursky. His new endeavor, he tells Bloomberg News, "will make Kiev and Ukraine a fantastic place for contemporary art." Pinchuk made the proclamation at a show for 20 Ukrainian artists who were nominated for the first Pinchuk Art Center Prize, which comes with a cash component of $12,200 and a one-month internship with an artist from the international scene. Hirst himself will announce the winner on December 4, 2009.

Pinchuk has a strong relationship with the artist celebrity and owns "probably half" of the skull paintings (by the collector's own estimation) in the current Hirst show at the Wallace Collection in London. He also participated in Hirst's solo auction in September 2008 but wouldn't tell what he bought.

Filed under: Art

Hirst Collector Pinchuk to Bring Contemporary Art Center to Kiev originally appeared on Luxist on Tue, 03 Nov 2009 18:01:00 EST. Please see our terms for use of feeds.

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Marcus Wareing has had what he calls "a fabulous year." The waiting list keeps getting longer, and he says, "There's a good vibe." Tristan Welch's Launceston Place is seeing more wine flow, and demand is picking up. Pearl's Jun Tanaka remains cautious, "We'll really know in the first quarter 2010 if business has returned ... I don't know if it's a trend or a hiccup."

Across the city, there's a mix of optimism and trepidation. Le Gavroche, Wahaca and Le Café Anglais, for example, offer some variation of "Business is good" or "Business is booming, and Gordon Ramsay tells Bloomberg News, "There's an increasing air of confidence, which has been particularly apparent since the beginning of September." Michelle McGuire of The Palm said the restaurant had its busiest week three weeks ago since its opening in May, "with record takings." Sam Hart, of Fino, Barrafino and Quo Vadis, on the other hand, calls the improvement "fragile."

Nonetheless, this is a far cry from the angst that characterized the fine dining world a year ago. When people start to eat well, you know that things are turning for the better.

Filed under: Dining

London Bankers Are Hungry Again originally appeared on Luxist on Tue, 03 Nov 2009 07:01:00 EST. Please see our terms for use of feeds.

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The auction lasted six hours and featured both fast-paced bidding and generous prices. Unsurprisingly, Roy Lichtenstein's Statue of Liberty print, titled "I Love Liberty," was the top lot at $49,000 (the presale estimate was only $25,000). Robert Indiana's "Polygons" prints brought in $23,750, almost four times the expectation. Every lot moved, the first time we've seen a 100 percent auction (high profile, at least) in a while.

Alasdair Nichol, vice chairman and auctioneer at Freeman's, cites "trophy hunting" as the driver behind Sunday's result. "What's not to like?" he said to Bloomberg News." "It's nice boardroom art, presented nicely, ready to go up on the walls. People lapped it up."

Filed under: Auctions, Art

Collectors "Lapped up" Lehman Art originally appeared on Luxist on Mon, 02 Nov 2009 22:01:00 EST. Please see our terms for use of feeds.

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Beyond Litto's assessment, there are two reasons for La Flor's success this year: the new cigars and Litto himself.

This year hasn't been mind-blowing for new cigars. Doubtless, there have been some gems. The Avo Campanero certainly impresed, as Avo's annual limited edition cigar always does. And, Camacho has done a great job with the Room 101 and Connecticut sticks. The norm, however, has been silence, an obvious result in a tough economy. Litto made two bold moves with El Museo and the Salamon, bringing two expensive cigars to smokers at a time when they are less inclined to spend. Clearly, it worked.

Gallery: La Flor Dominicana's Litto Gomez in Manhattan

Continue reading Exclusive Interview with La Flor's Litto Gomez

Filed under: Cigars

Exclusive Interview with La Flor's Litto Gomez originally appeared on Luxist on Mon, 02 Nov 2009 14:03:00 EST. Please see our terms for use of feeds.

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Michael Boehkle of Kent, Washington

The winner's new man cave will fuse his two passions: cigars and Harley Davidson motorcycles. "I will combine two great legends, Partagas cigars and Harley Davidson to create a cigar lounge and vintage motorcycle museum in my garage," he said. Boehkle collects and restores Harleys.

Boehkle bought the four pack, which cost little more than $20 (in New York -- taxes probably caused the price to vary across the country), at Snoqualmie Casino. Because of its role in selling the winning sticks, the casino's cigar lounge, Lit, will receive Partagas-branded leather seating.

Filed under: Cigars

Partagas "Man Cave" Winner Announced originally appeared on Luxist on Sat, 31 Oct 2009 20:01:00 EST. Please see our terms for use of feeds.

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This is an auction that's sparked some interest among art collectors.

Anne Henry, vice president of Freeman's, told The Associated Press, "Our phones have been ringing off the hook," continuing, "The pieces are interesting, in great condition and appeal to all kinds of collectors." Specific lots include an Alexander Calder print estimated at $800 to $1,200, a set of nine Walker Evans photographs which are estimated at $1,000 to $1,500 and a Roy Lichtenstein print of the Statue of Liberty, which is expected to go for between $15,000 and $25,000.

Lehman Brothers didn't get much time to enjoy the pieces it purchased. Some were acquired only a few months before the storied investment bank collapsed in September 2008, crushed by the weight of $600 billion of debt.

Of course, this auction pales in comparison to that of former Lehman CEO Richard Fuld. He sold 16 pieces at a Christie's auction last year, bringing in only $13.5 million, nowhere close to the $20 million estimate.

If you can't make tomorrow's auction, Freeman's will be holding two more: one for paintings and sculpture on December 6, 2009 and a no-reserve auction of 450 prints on February 12, 2010.

Filed under: Auctions, Art

Lehman Art: Fire Sale Auction in Philly originally appeared on Luxist on Sat, 31 Oct 2009 19:01:00 EST. Please see our terms for use of feeds.

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The use of this device is straightforward: remove the band from your favorite cigar, wrap the Davidoff alternative around the stick and fasten the clasp. Then, be sure to hold your cigar shoulder-high between puffs, to make sure everyone sees how it is adorned (that is the point, after all). Many cigar smokers are known to show off their labels, but none will be able to compare to the Davidoff ring.

When using this accessory, remember to remove it when the ember is an inch away - you don't want to damage the leather. Also, be sure to take it off before you toss the smoked cigar in the ash tray. It would be a shame to forget this item in the lounge (though whoever finds it would be pretty happy).

If cigar smoking is a visual affair for you, the Davidoff cigar band is the best way to be seen smoking. But, make sure you put it on a great cigar - or at least have the presence of mind to shove the "It's a Boy" label in your pocket so you don't get busted.

Filed under: Cigars

New Davidoff Cigar Band Redefines Conspicuous Luxury originally appeared on Luxist on Tue, 27 Oct 2009 11:01:00 EST. Please see our terms for use of feeds.

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The 48 square inch painting went under the gavel at Sotheby's almost a year ago, with the seller, Italian art dealer and collector Gian Enzo Sperone, protected by a $15 million minimum by the house. Now, it's on display at FIAC, right next to Andy Warhol's "Green Disaster," in the Projet Moderne section.

For many, the question of who owns the Lichtenstein painting has been raised. Is the fact that it's hanging as an entry from the Gagosian Gallery meaningful? A source at FIAC tells Bloomberg News that it is: "Larry owns it and it's definitely for sale."

It would be poetic, of course, for the piece to fetch the $15 million it failed to reach last November, but for now, all we can do is wait for the result (if any).

Filed under: Auctions, Art

Lichtentein Piece "Definitely for Sale" originally appeared on Luxist on Tue, 27 Oct 2009 07:01:00 EST. Please see our terms for use of feeds.

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Grand Rapids hosted ArtPrize, a new art show this year, and it was so successful that the organizers are going to do it again in 2010. Businesses in town got a bump, and Grand Rapids was able to boost its cred as an art destination. The 18-day competition commenced on September 23, 2009 and drew tens of thousands of visitors to the Michigan city. Some restaurants ran out of food, because they weren't expecting such a large influx of guests. Doug Small, president of the Grand Rapids/Kent County Convention and Visitors Bureau, told The Associated Press, "Nobody had any clue this would happen."

The competition attracted 1,262 entries, varying in size, shape, style and medium. They were displayed in lobbies, on bridges, in parking lots and in the Grand River -- anywhere in town where they could find a place to exhibit. The winners were chosen by the voting public, using the event's website and text messaging, with 37,264 people participating.

The winner was Ryan Ortner of Brooklyn, New York, with the oil painting "Open Water No. 24, measuring 19 feet wide, taking first place, with Tracy Van Duinen taking second and Eric Daigh coming in third. Ortner lent his painting to the Grand Rapids Art Museum, which is going to display it until January.

Filed under: Art

Art Market Goes Local originally appeared on Luxist on Mon, 26 Oct 2009 07:01:00 EST. Please see our terms for use of feeds.

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The Jackson piece is being sold by an anonymous collector in New York, according to Brett Gorvy, the deputy chairman of Christie's. The current owner purchased it from the Andy Warhol foundation sometime in the 1990s.

Forty-six lots will be auctioned along with the Jackson portrait, and there will be two other paintings by Warhol.

Back in August, a similar Jackson painting by Warhol was sold. The buyer chose to remain anonymous, and nobody will reveal the price ... except to say that it went for more than $1 million.

Filed under: Auctions, Art

Michael Jackson and Andy Warhol Together at Christie's originally appeared on Luxist on Sun, 25 Oct 2009 22:01:00 EST. Please see our terms for use of feeds.

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Several sizes and shapes are available, but I was drawn immediately to the largest available (I tend to prefer bigger cigars), which is rolled with a shag foot. Sure, I was attracted to the unusual appearance, though I was skeptical about how it would burn - the shag just didn't seem likely to lead to an even burn. Needless to say, I was absolutely wrong. In fact, few cigars have burned as evenly as the Project X. The frayed ends all turned to ash at the same pace, and by the time the shag was exhausted the rest of the cigar moved upward almost in a perfect circle.

The Project X is medium-bodied and incredibly smooth throughout, though the flavor does lose a little momentum in the middle (they are more pronounced up front). The cigar regains the strength of flavor toward the end - without becoming harsh or acidic.

Doubtless, the Graycliff is an upscale cigar brand, and I don't expect the Project X to be inexpensive. The impressive construction is upstaged only by the style points this cigar wins. If you're looking for a conversation piece, burn some shag.

[Photo via @brianhewitt]

Disclosure: Graycliff provided me with the cigars for this review.

Filed under: Cigars

Cigar Review: Graycliff "Project X" originally appeared on Luxist on Sun, 25 Oct 2009 15:02:00 EST. Please see our terms for use of feeds.

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Last week, a painting by Piet Mondrian was put on reserve, at a price between $30 million and $40 million. One of Pablo Picasso's works was reserved, as well, at $24 million. Back in the art boom, these pieces would have been snapped up already, but dealers are saying that it's taking longer to complete sales at FIAC this year than last year. Even billionaires need convincing in this market, it seems.

Also, there's a greater desire to stay under the radar. Whether it's to maintain some privacy or hide the fact that they have the means to spend more than they like, some owners and buyers are turning to private sales. Bargains, thus, won't make it into the public record - sparing sellers the embarrassment and preventing the other holdings of all collectors from sustaining a measurable decline in value. If premiums are paid, buyers won't have to reveal that they have the cash to pay more, preventing prices from increasing broadly.

Continue reading Art Collectors Watching, Waiting (and maybe Buying) at FIAC

Filed under: Art

Art Collectors Watching, Waiting (and maybe Buying) at FIAC originally appeared on Luxist on Sun, 25 Oct 2009 14:08:00 EST. Please see our terms for use of feeds.

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The auction houses did fairly well, though estimates tend to be far lower than a year ago. Damien Hirst's Wallace Collection moved well, with "Two Skulls" selling for $705,244, far more than its presale estimate. Emerging artists had moments in the sun, as well, particularly Hurvin Anderson's "Untitled (Beach Scene)," which sold for $158,304 - more than three times its presale estimate. Farhad Moshiri's "Cowboy and Indian" more than doubled its presale estimate, with a price of $548,976. In general, the auctions posted sufficient results, the first step in a market turn. Sotheby's and Christie's pierced the $20 million mark in recent contemporary auctions, and Phillips de Pury moved 31 of 43 lots to reach $6.7 million in a recent contemporary auction.

Now that the art market is moving from Frieze to FIAC and into the busy fall auction season, we'll get a sense of what 2010 will look like ... and if the market is finally picking up the momentum we all want it to show. The last art market slump, from 1990 to 1992, didn't bring an immediate resolution, with prices not returning to normal until 1995. So, brace yourselves for a slow recovery (or treat it as bargain season!).

Filed under: Auctions, Art

Art Auction Houses Move from Frize to FIAC ... and the Future originally appeared on Luxist on Sat, 24 Oct 2009 10:01:00 EST. Please see our terms for use of feeds.

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The big money's in Paris this season

Picasso isn't the only major artist whose work is up for sale at a major price. L+M Arts, from New York, has put Francis Bacon's "Portrait of George Dyer Takling," which is being priced at approximately $40 million, and Fernand Leger's "Le Grand Dejeurner" is being shown by Daniel Malingue for $20 million to $25 million. The fair is already well attended, with Bernard Arnault, chairman of LVMH, and his ilk already in attendance.

FIAC ends on October 25, 2009 and has more than 200 modern and contemporary art dealers showcasing the work they represent. Most of the exhibits are in the Grand Palais, with another 80 by younger living artists displayed in a temporary structure in the Cour Carree of the Louvre. The art market slump has led to smaller numbers this year, with 40 galleries that participated last year not returning to Paris this year.

Filed under: Art

Paris Follows London with Art Fair originally appeared on Luxist on Thu, 22 Oct 2009 16:01:00 EST. Please see our terms for use of feeds.

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Christie's is selling the Raphael drawing on behalf of an anonymous private collector, though it's been owned in the past by Sir Thomas Lawrence and King William II of Holland. It hasn't shown up at auction in more than 150 years. The history associated with this piece, as well as the piece itself, are what make it a threat to the record of 8.1 million pounds paid for the drawings "The Risen Christ" (Michelangelo) and Leonardo da Vinci's "Horse and Rider." They sold in July 2000 and July 2001, respectively.

The drawing was completed between 1508 and 1511 at the request of Pope Julius the II. The artist died in 1520 at the age of 37.

The sale will feature other major works including a masterpiece by Rembrandt, shown at right. Unseen in public for almost 40 years and offered at auction for the first time since 1930, Portrait of a man, half-length, with his arms akimbo, 1658, is offered from a distinguished private collection and is expected to bring in £18 million to £25 million. One of the most significant Old Masters to be offered in recent years. Saint John the Evangelist by Domenico Zampieri, called Il Domenichino (1581-1641), will be presented for sale for the first time in over 100 years. It is expected to sell for £7 million to £10 million.

Filed under: Auctions, Art

Raphael, Rembrandt and More At Christie's Old Masters Sale originally appeared on Luxist on Tue, 20 Oct 2009 19:02:00 EST. Please see our terms for use of feeds.

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Owl is long and fairly narrow, though there is plenty of room to walk up and down the store; it isn't cramped. You can sit at the bar or in the lounge chairs set back near the wall, where the waitresses will take your cigar and drink orders. Large flat-screen televisions are usually tuned to the sporting event of the day, which can be a draw for many cigar smokers, though I'm generally not interested (just a quirk, I guess). At the back of the store, which widens, there is a large table where a crowd can gather, along with other seating. Back here, you can dodge the television gauntlet and converse or just relax.

Gallery: The Owl Shop in New Haven

Continue reading Featured Cigar Lounge: The Owl Shop in New Haven, Connecticut

Filed under: Cigars

Featured Cigar Lounge: The Owl Shop in New Haven, Connecticut originally appeared on Luxist on Tue, 20 Oct 2009 16:01:00 EST. Please see our terms for use of feeds.

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The battle over the literary booty is on its way to Tel Aviv Family Court. The letters currently sit in two bank vaults, though scholars are worried that they aren't being stored properly. They see in the letters a potential treasure map: they may indicate the location of some notebooks confiscated from Kafka by the Gestapo. The issue became a legal matter when the sisters sought to ratify their mother's will, at which point the Israeli government became involved. Esther Hoffe only allowed a handful of researchers to view the letters and didn't make them available to the public -- a sore spot for interested scholars.

Had Kafka's wishes been respected, there would be no problem right now. The letters would have been burned.

Continue reading Trial over "The Trial": Kafka's Letters Headed to Israeli Court

Filed under: Art, Books

Trial over "The Trial": Kafka's Letters Headed to Israeli Court originally appeared on Luxist on Tue, 20 Oct 2009 08:01:00 EST. Please see our terms for use of feeds.

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The action appears to have been driven by buyers who'd normally look for something close to $10 million ... who began to see what they could get for a mere 20 percent of that price. When opportunity knocks ... you know the drill.

Even with this bit of good news, the number of homes sold last quarter fell 2.3 percent, with those fetching less than $500,000 posting the largest decline (22 percent). So, all isn't rosy in the land of the wealthy, unless of course, you're still wealthy.

Filed under: Real Estate Developments

Hamptons Homes Hot Again originally appeared on Luxist on Mon, 19 Oct 2009 20:02:00 EST. Please see our terms for use of feeds.

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I was excited about the Cain when a friend gave me a preview over the summer. It was well-constructed and had an incredible taste that changed several times throughout the smoke. It's difficult to balance power and flavor; the blender runs the risk of the former's overtaking the latter. Oliva navigates this peril easily, delivering an interesting and enjoyable cigar from foot to cap.

Unfortunately, the Cain's construction has not lived up to what I saw with that first experience. In a box of torpedo-sized cigars, I found more than half of them with severe cracks in the wrapper.* Other Cain smokers with whom I've spoken did not have a problem this substantial, though they did encounter more than a few cracked wrappers among their purchases.

The wrapper aside, I loved the draw on this cigar. You can pull big mouthfuls of smoke effortlessly. Also, the binder holds together well, so the cracked wrapper doesn't cause the cigar to explode on you.

The Cain could be a fantastic cigar (especially for the price), but the construction issues are a bit of a concern. If the problems with the wrapper are sorted out, this will be an excellent smoke.

*Oliva did offer to remedy the situation, but my tobacconist had already done so.

Filed under: Cigars

Cigar Review: Oliva Cain originally appeared on Luxist on Mon, 19 Oct 2009 10:01:00 EST. Please see our terms for use of feeds.

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Values for the pieces are off -- that's pretty well known (especially to anyone trying to sell right now). Sotheby's brought in $32.8 million at the sale -- which also had Arab and Iranian art on top of the contemporary and Italian lots. Christie's picked up $27.7 million, with more U.S. buyers than expected.

We're again seeing an engineered reality that's driven by performance relative to presale estimates -- this is all the hint we nee to know that the art market is still pretty far from recovery. But, as we know, it could have been much worse. Hell, we saw how bad it could be for most of this year.

Filed under: Auctions, Art

Christie's and Sotheby's on the Upswing (Sorta) originally appeared on Luxist on Mon, 19 Oct 2009 07:01:00 EST. Please see our terms for use of feeds.

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New York: a two-bedroom luxury apartment (unfurnished) now costs a mere $4,300, off $200 from last year. And, there are other signs that the most expensive city is becoming less expensive, including the shuttering of Café des Artistes and the opening of our first J.C. Penney (ugh).

Los Angeles: this is where you go if you can afford only half the cost of living in New York. Unlike the most expensive city in the country, it makes sense to have a car out there, but get a nice one: you'll be spending a lot of time in it. LA has some of the longest commutes in the country.

Washington, D.C.: in this part of the country, take advantage of a 3.8 percent unemployment rate for the metro area. That's a hell of a lot better than the nationwide 9.8 percent (expected to break 10 percent early next year).

.

Continue reading NYC, LA Top List of Most Expensive U.S. Cities

Filed under: Journeys, Real Estate Developments

NYC, LA Top List of Most Expensive U.S. Cities originally appeared on Luxist on Sun, 18 Oct 2009 16:01:00 EST. Please see our terms for use of feeds.

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If Koryo Tours is able to raise the funds necessary for the dictionaries, which is the first priority, it will be the first time that North Korean blind children will have this type of resource available -- the books currently do not exist.

Filed under: Journeys, Charity, Charity of the Day

Koryo Tours Helps the Blind Read in North Korea originally appeared on Luxist on Sun, 18 Oct 2009 11:02:00 EST. Please see our terms for use of feeds.

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Christie's International

The equivalent auction held by Christie's last year consisted of 47 lots and brought in revenue of $52 million. But, it missed the low-end estimate of $95 million by a mile. At that auction, 45 percent of the lots didn't sell.

The seemingly better performance this year may provide a warm feeling to a market that's been battered for a while, but it should be balanced against the fact that expectations were much lower than last year, a trend that has developed throughout the art market slump.

Other impressive results include $1.46 million for "Signal Box" by Neo Rauch, $1.57 million for Jean-Michel Basquiat's "Fuego Flores" and $886,000 for Damien Hirst's "Retribution."

Filed under: Auctions, Art

Three Pieces Sell for More than $1 million at Christie's Contemporary originally appeared on Luxist on Sat, 17 Oct 2009 19:04:00 EST. Please see our terms for use of feeds.

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