More and more art collections held by financial institutions seems to be making their way to market. Once an art collection held by a business was considered an investment and a sign of status. Lately it's looking more and more like a liability. The Royal Bank of Scotland is reportedly looking at selling parts of its £10m to £15m art collection when the art market improves. The move is part of an overall trend in having state-owned banks get rid of anything not essential to doing business.

The collection of the bank, which is majority owned by the UK Government, includes pieces from artists LS Lowry, Anne Redpath, Jack Vettriano, Patrick Caulfield and Peter Howson. The bank inherited many of the pieces through a merger with NatWest in 2000. The bank is planning to loan out some of the pieces to public galleries next year including The National Galleries of Scotland and The National Gallery, The art is currently mostly displayed on office walls but with around 400 of its existing 2,250 banking and insurance branches in England and Wales closing there will be a lot less wall space available.

A spokeswoman for the bank as quoted in the Wall Street Journal said that the bank will not sell pieces that are of historical importance or that national galleries might wish to exhibit. Other pieces however may be up for sale if it is deemed that the market is strong enough and a good price could be realized.

The action in Tribeca on Saturday night gave me a bit more proof that the art market is looking for a bounce. I attended an art show held by local artist Ben Krell and Lindsey Nobel, who came in from Los Angeles, and the action was palpable. At last count, six pieces sold at the event, and there were many serious buyers with an eye to add emerging artists to their collections again.

Krell and Nobel have vastly different styles, but the pieces complemented each other in the loft where the event, billed as an "open studio," was held. Krell's work through several periods was on display, from the tight geometric styles he favored several years ago to the organic approach he uses today. Nobel offered pieces using several media – including photography and plastic. Works by both artists captivated the guests who crowded the venue as the evening unfolded.

Nobel's work features intricate designs connecting larger abstract shapes that are based on photographs she has taken of sculptures. The intentional result is an interconnectedness reminiscent of neural networks, linking stations of consciousness into a greater, unified presence.

Unlike his partner at the event, Krell prefer broader, sweeping themes on his canvases (which he shapes himself). His latest movement evokes feelings of creation – in the cosmic sense – with concentrations of energy yielding to calming effects.

The Tribeca art exhibition was a trip home for Krell, who painted in that particular loft back in the 1990s. He also held a show there in September 2008, shortly after the collapse of Lehman Brothers. The mood couldn't have been more different this time around. Attendees were considerably more upbeat ... and in greater number. The sheer level of participation was enough to suggest that the art market is getting ready to turn, and the fact that several collectors made purchases reinforces the notion.


[Photo courtesy of Ben Krell]

It has been revealed that casino mogul Steve Wynn is the proud new owner of the Rembrandt painting that sold for a record $33.2 million last week at Christie's in London. The 1658 "Portrait of a Man, Half-Length, With His Arms Akimbo," was sold over the telephone. Wynn has not officially revealed that he was the buyer but the NY Times reported that he called several art dealers and scholars to ask their opinions of the piece before the sale.

Wynn is famous for his art collection which includes excellent pieces by Rubens, Vermeer and Cezanne as well as the Picasso masterpiece, Le Reve. Wynn, who suffers from the eye disease retinitis pigmentosa, famously put his elbow through the picture in 2006.

To be filed under bling with a capital B or even lite-brite gone luxe; Gemstone Creative has come up with a concept to provide bespoke mosaic artwork to those who have cash to burn.

To be fair, the art of making mosaics has been around for centuries and has always had a tradition of patron sponsorship. Taking their inspiration from the Moors, the Mughai Emperors and the powerful Byzantines, whose completed mosaics often contained precious stones and gold leaf, Gemstone Creative's bejeweled mosaic concept does not seem quite so outlandish. The roots of the idea can be found in historic practices around the globe.

The London based company is the brainchild of Mark Hirschel and Sarah Stultman who have assembled talented individuals in the fields of mosaic art and jewelry setting to be able to bring this unique concept to the marketplace. The artists including, Adrian Firth, Tessa Hunkin and Claire Milner are classically trained, have their art in private collections and in international shows such as the London Art Fair. The pieces can be fashioned from diamonds of various colors, rubies, emeralds, sapphires as well as a selection of semi-precious stones such as peridot, and amethysts. They make a promise to consumers to use only ethically sourced stones in their mosaics. For the most part, if you can dream it up the artists can make it happen, although the company does need to be able to acquire the correct volume of stones for your piece.

So how much does all of this cost? Well it does depend on the size of the piece, as well as the market price of the stones and setting you choose. As an example, an 8inch x 8inch piece will contain at least 2,600 stones while a larger piece measuring 24inch x 24inch would contain over 22,000 individual stones. As an estimate one can figure on the smaller portraits starting at £25,000 and easily surpassing the £1 million mark if a piece is made entirely of diamonds and set in platinum. It is no wonder the company states in its press release that the portraits are the "ultimate luxury possession".

If your pockets aren't as deep and you like the concept they will also make pieces out of Swarovski Crystals that start at a much more reasonable £2,750.

So much art at auction, so few digital doppelgangers to bid on it for you. Artfact Live -- the live auction bidding site for works from houses like Christie's, Bonham's, and so many others -- may have a solution that doesn't involve cloning. Instead, it has created an app that keeps you in real-time auction action for more than 100,000 items of fine and decorative arts, collectibles, estates, and more.

If you're unsure of what to bid on or how much to bid, there's the Artfact database. Have your eye on that LeComte coming up for auction in Paris but need to know a bit more, the database will reveal its provenance, history, what it's worth and why. On the other hand, if you know the LeComte you're after but it hasn't come up for sale yet, you can enter it in the Auction Advisor and Artfact will alert you when that stingy collector decides to relinquish it.

Additionally, the widget lets you place anonymous absentee bids before the auction if you cannot participate, and if you'll be notified if you're outbid before the auction begins. You can also search auctions to see what a particular work or complementary works have gone for. It's not as cool as cloning, sure, but you can spare yourself the ethical considerations and you won't ever have to worry about your clone bidding on that purple glass rooster behind your back...

The Fine English Company is a recently launched line of luxurious furniture, luggage and lifestyle accessories reminiscent of Britain's colonial past with a contemporary flair. Founded by former financial consultant Benedict Wormald, the company was born out of a desire to trade in his city lifestyle in London and turn a lifelong passion for classic British design and antiquities into a business. The Fine English Company's products combine traditional craftsmanship with its detailing of exotic animal skins, rare and native woods and veneers to create a range of collectible and desirable objects betokening the best of bespoke British luxury,

With 15 years of experience sourcing unusual items and commissioning bespoke products, Benedict worked tirelessly to create the Fine English Company's first collection, a selection of which is now available at Holland & Holland, the famous London gunmaker established in 1835 and holder of the Royal Warrant. The core range includes steamer trunks finished with exquisite detailing and exotic zebra and giraffe skins, for £2,750 - £5,750. Larger furniture pieces include traditional leather armchairs, sofas and footstools, and club-style fireplace fenders upholstered in tweed, zebra and giraffe skin giving them a contemporary flair.

Fine English also has range of smaller items for sporting gentlemen including traditional handmade slippers with leather soles in a range of animal skins, bold tweed, and for the pocket pirate, a skull and crossbones. Also available are a number of iconic humidors for the busy plutocrat with rich wood finishes such as ebony, macassar and walnut, some decorated with the skull and bones (£2,500) or iconic Union Jack. Also a collection of stunning bespoke pocket knives featuring William Morris acanthus engraving, 18k pink gold with gold lipped pearl details, Damascus steel blades and ivory from the woolly mammoth, rivaling creations from the world's finest gun and watch makers.



A well-curated collection of fine antiques is also on offer, drawn from military, architecture, automotive, aeronautical and sporting pursuits and restored to perfection. Of course the company offers a complete bespoke service as well; if you can conceive of it, Wormald promises to make it happen - he claims to have never turned down any client's request. From unique taxidermy - one recent example being the finest Van Ingen Tiger to be seen in Europe - to whole games rooms, gun rooms, dramatic architectural statement pieces and even a mahogany WC seat with the skull and bones motif, Fine English will furnish it to your requirements.

Brisbane, Australia is home to an unusual art exhibition -- the type that's a welcome break from what you typically see in major museums around the world. The Queensland Art Gallery is hosting the 6th Asia-Pacific Triennial through April 2010, and for the first time, art from North Korea has a large presence. Nick Bonner of Koryo Tours is co-curator of the exhibition, which reflects three years of commissioning works.

But, if you're interested in meeting the artists, you'll be disappointed.

Originally, five artists from Mansudae Art Studio were going to attend the show and discuss their work, but the Australian government declined their visas at the last minute, according to Koryo Tours. The artists in question were Pak Hyo Song, Kang Yong Sam, O Song Gyu, Rim Ho Chol, Ri Jong and Pak Yun Chol.

A spokesman for the Australian government explained, according to The Courier Mail, "The studio reportedly produces almost all of the official artworks in North Korea, including works that clearly constitute propaganda aimed at glorifying and supporting the North Korean regime." He continued, "To make an exception in this case would have represented a relaxation of Australia's visa ban and sent an inappropriate message to the North Korean regime."

Melbourne Australia will be getting a series of very interesting art-themed hotels over the next two years. There will be a total of six Art Series Hotels, representing a $300 million investment in the city. The name and design of each hotel will be inspired by a famous Australian artist and no two properties will be the same. The Cullen was the first to open its doors in Melbourne last week. The $48 million luxury boutique hotel was inspired by Australian artist Adam Cullen and features more than 450 of his works which are cared for by an in-house curator. Two of Cullen's custom designed cows also grace the foyer. The hotel offers 115 rooms, several eateries (including Hutong, a 140-seat Asian dumpling restaurant, and The Terrace, serving Mediterranean fare) a rooftop garden and a cocktail bar with uninterrupted views of Melbourne's skyline. The entire hotel is dedicated to Cullen's aesthetic, everything from the restaurant menus to the bikes and Smart cars available for hire to guests have received the Cullen touch. Cullen's prints, which are featured throughout the property, are also for sale. Rates start at $208 USD per night.

Next up for the group is the $90 million hotel, The Olsen, slated to open in February 2010. The hotel was named for renowned painter John Olsen and will have 239 rooms and the world's largest glass bottomed swimming pool, which will hang over Chapel Street. The third hotel in the series, The Blackman, is set to open in April 2010.

The Official Michael Jackson Opus, a massive 38-pound tome has gone on sale. The book was endorsed by Jackson's estate and includes many portraits of Michael Jackson including a portrait in which he is painted by David Nordahl as a statue surrounded by children dressed as angels. The book also features many Jackson photographs, copies of song lyrics and personal remembrances of the people who knew him best and were inspired by his work including Reverend Jesse Jackson, Quincy Jones, Berry Gordy, Smokey Robinson, Shaquille O'Neal, Paula Abdul, John Landis, Sugar Ray Leonard, Jimmy Jam, Spike Lee, Teddy Riley, Jane Fonda and many more. The book sells for $249.

Another piece of Michael Jackson art, a Kehinde Wiley piece showing Michael Jackson on horseback dressed in royal garb sold at Art Basel Miami Beach for $175,000. The image is after the jump.

Christie's and Sotheby's aren't being shy with the Old Masters. Pieces by Rembrandt, Raphael and Van Dyck are being offered at hefty prices, some records, that could bring in up to $133 million. If this happens, art collectors will have doubled last year's result ... and cast a strong vote in favor of an art market recovery.

The Christie's sale on Tuesday will include a portrait by Rembrandt and a sketch by Raphael. They are being estimated at 18 million pounds and 12 million pounds, respectively. According to Christie's, these are the highest estimates seen at auction, says Bloomberg News. The Sotheby's sale occurs on Tuesday, featuring a Van Dyck portrait that could fetch as much as 3 million pounds.

Unlike the volatile market for contemporary art, prices for the Old Masters have been relatively stable, as the supply is diminishing and demand is increasing.

According to Johnny van Haeften, an art dealer based in London, told Bloomberg News, "Prices at auction are very strong because there isn't much out there." He continues, "People don't want to sell at the moment. They're saying, 'If I let a painting go, where do I put the money? I'd rather keep it in a work of art.'" He bid unsuccessfully for two still life pieces by 17th century Dutch painter Adriaen Coorte. Both ultimately sold for more than 10 times their high-end presale estimates.

[Photo via Christie's]

Art Basel was fun again this year. After a recession-stained climate last year led to toned down partying, collectors and dealers (and everyone else) was back in style this time around. According to the Wall Street Journal, it seemed like everyone was throwing a party this year, with the likes of Larry Gagosian and Lance Armstrong getting in on the action. And, the parties didn't suck. Hosts went all out -- with live music and other attractions -- to separate themselves from the competition. Some even tried something new, with the words "Everybody has a Damien Hirst" uttered.

Of course, there were enough celebrities in supply to ensure that every host had one to boast about. Scott Stapp, lead singer of Creed, and Russell Simmons, for example, were present at the Mondrian South Beach Hotel. Simmons is a committed collector of works by Jean-Michel Basquiat and Barbara Krueger and was in town to raise money for his charity, Rush Philanthropic Arts Foundation.

An after-party hosted by Julian Schnabel's art dealer son, Vito, attracted some big names, as well. Peter Brant, an art collector who recently tried to move "Brother Sausage" by Basquiat at auction, was there, along with Abby Rosen.

Yet, there were more intimate dinners and cocktail parties than in past years, according to Art Basel regulars. A few corporate sponsors still made the plunge, including UBS, NetJets and Cartier.

Last night we showed you some scenes from Art Basel Miami Beach. Now our friends from Plum TV are back with a couple of new videos. These videos showcase the edgier sides of Art Basel Miami Beach, the shows and parties that are more open to emerging artists and art collectors. Above is a quick video from the Gen Art Vanguard Party.

After the jump is a look at the NADA fair. The New Art Dealers Alliance event is a great place to find art at a more accessible price point and get in on the ground floor with some artists whose prices might be quite higher in a few years.

Celebrities have inspired some pretty interesting art over the years. We've seen a golden yogini Kate Moss, a birthing Britney and countless Marilyn Monroe images but the latest celeb-inspired piece is pretty unique. Phantom-Financial has announced the December unveiling of the sculpture of Brad Pitt and Angelina Jolie, "Brangelina Forever" by artist Daniel Edwards, just minutes from Brad Pitt's own birthplace in the Oklahoma City area. The sculpture is part of the 4,000 sq. ft., $500,000 house named "The Brangelina", by the Los Angeles artist known as Xvala.

"Brangelina Forever" is a life-size casting of Brad and Angelina in an embrace. It will be installed in the ceiling of the master bedroom. A press release states that the statues contain crushed glass from wine glasses from which they drank while reportedly celebrating the anniversary of their first meeting on the set of 'Mr. and Mrs. Smith.' "The Brangelina" is a house which is stenciled with words that represent both Pitt and Jolie including quotes and references to some of Jolie's tattoos. The house will be sold and any potential owner must promise to extend 'honorary ownership' of their home to Pitt and Jolie and to accommodate them every time they come to town to visit Pitt's grandmother. The Brangelina will be on public view starting Wednesday December 16th at 11 a.m. in the Thornbrooke neighborhood of Edmond.

The statue and the house are part of the documentary "Domestic Bliss: The Daniel Edwards/XVALA Project" by Oklahoma filmmaker Dave Smith scheduled to premiere at The New York Academy of Art. A trailer is after the jump.

Art Basel Miami Beach opened this week with a mixture of excitement and cautious hope. Our friends at Plum TV are in Miami checking out the scene and they've shared some video with us. The overall mood seems to be fairly festive this year. Plum TV is covering both the art and the always entertaining nightlife, starting with the VIP Pre-Vernissage Preview Party on Wednesday night, shown above. Plum TV has a designated Art Basel Miami page with regularly updated videos and information as well as links to their Facebook and Twitter feeds.

Check out snippets of fashionable celebrities including Calvin Klein, Naomi Campbell and Lorenzo Martone, the art-savvy boyfriend of designer Marc Jacobs in the first video after the jump.

If you are traveling in Paris right now you might have some difficulty visiting local museums. Workers are at the city's top museums went on strike on Wednesday. The AP reports that the Pompidou Center modern art museum and the Musee d'Orsay were closed Wednesday and the Louvre was only partially open. At issue in the strike is a policy of not replacing half of retiring public servants. Meetings on Wednesday afternoon between union leaders and Culture Minister Frederic Mitterrand did not yield any resolution.

The Louvre Museum and the royal palace at Versailles closed Thursday as the French museum workers' strike began to gather strength. The AP paints a scene of tourists gathered outside the Louvre unable to enter past the blockade of protesting workers. Workers at the Francois Mitterrand National Library in southeast Paris have voted to join the strike Friday. At this point it is not known how many workers are on strike. The culture minister has remained adamant that France cannot make an exception for museum workers in the sweeping government staff reductions and that the museums must find a way to survive with fewer employees.