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Ruscha Print Sets New Record for Artist

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.

Tags: art, art auction, art auctions, ArtAuction, ArtAuctions, artist, artmarket, artwork, bonhams, bonhams butterfields, bonhamsauction, BonhamsButterfields, breaking, breakingnews, ed ruscha, EdRuscha, hayward, haywardgallery, london, london england, LondonEngland, ruscha

Dial 911: Porsche Unveils Hardcore New GT3 RS

by Noah Joseph (RSS feed) —

Filed under: Luxury Cars & Autos

Looking for the ultimate performance Porsche? You're likely to run into some divergent opinions on exactly which model that is. Most would agree that it lies in the 911 range, not the Cayenne sport-utility or Panamera sedan, but the iconic sportscar has more varieties than the Bugatti Veyron has special editions. Some would point to the latest all-wheel-drive 911 Turbo, others would go with the similarly turbocharged but rear-drive GT2, while others still prefer the basic purity of the naturally-aspirated GT3. But now Porsche has taken the wraps off the most hardcore, bare-bones version: the GT3 RS.

To unburden the newly revised 450-horsepower 3.8-liter Flat-Six engine, Porsche has taken out as much weight as it can, right down to the titanium exhaust system and lightweight lithium-ion battery. The German automaker has also fitted a revised PASM active suspension system and even variable engine mountings to make the 911 GT3 RS the most direct driving machine in its range, and given it the look-at-me graphics to let everyone know what it is. It'll set you back $132,800 after its official debut next month at the Frankfurt auto show.

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Tags: 2010 Porsche 911 GT3 RS, 2010Porsche911Gt3Rs, 911 GT3, 911 GT3 RS, 911Gt3, 911Gt3Rs, breaking, frankfurt 2009, Frankfurt2009, GT3 RS, Gt3Rs, Porsche, Porsche 911, Porsche 911 GT3, Porsche 911 GT3 RS, Porsche911, Porsche911Gt3, Porsche911Gt3Rs

Hyundai Pulls Out the Big Guns by Bringing Flagship Equus to America

by Noah Joseph (RSS feed) —

Filed under: Luxury Cars & Autos

Hyundai may not be the first name that comes to mind when you think of luxury sedans. In fact, it was once a bit of a punch line. But no more. After the debut of the Genesis sedan and coupe, the Korean automaker has established itself as a serious player in the luxury segment, and has got Japan's top premium marques paying attention. Now Hyundai is preparing to step it up a notch by bringing its top-of-the-line Equus luxury sedan to the North American market. After an initial showing at the New York Auto Show in April, the Hyundai Equus is set to make its official Stateside debut at the Pebble Beach Concours d'Elegance this weekend. Lexus, Acura and Infiniti had better take notice, as should anyone in the market for a luxury sedan who's eager to get a good value and willing to forgo the traditional nameplates.

Tags: breaking, equus, hyundai, hyundai equus, HyundaiEquus, monterey 2009, Monterey2009, pebble beach, PebbleBeach

New-for-2010 Porsche 911 Turbo Makes the Scene

by Noah Joseph (RSS feed) —

Filed under: Luxury Cars & Autos

While most automakers come out with completely new models every few years, Porsche's core product takes an entirely different approach: the 911 is the same basic design that has been used for decades, only tweaked to perfection over the years. And this promises to be the best one yet. The new Porsche 911 Turbo uses the company's latest 3.8-liter direct-injection flat-six with a pair of variable turbochargers to pump out a prodigious 500 horsepower, driving through either a six-speed manual or a 7-speed dual-clutch gearbox and available in both coupe and cabriolet versions. Along with the revised powertrain comes a host of updates featured across the entire 911 range, but only this top-of-the-line version offers turbo power with all-wheel-drive traction. Of course that one-two combo comes at a price: $132,800 for the coupe and $143,800 for the convertible. But then how can you put a price on decades of evolution?

Tags: 2009 Frankfurt Motor Show, 2009FrankfurtMotorShow, 2010 Porsche 911 Turbo, 2010Porsche911Turbo, 911, 911 Turbo, 911Turbo, breaking, Doppelkupplungsgetriebe, Frankfurt 2009, Frankfurt Motor Show, Frankfurt2009, FrankfurtMotorShow, Porsche, Porsche 911 Turbo, Porsche Turbo, Porsche911Turbo, PorscheTurbo

Selling Real Estate to Leibovitz "Big Mistake"

by Tom Johansmeyer (RSS feed) —

Filed under: Art, Real Estate Developments

Celebrity photographer Annie Leibovitz may lose her two high profile properties if Art Capital Group wins its $24 million lawsuit. They are side-by-side in Greenwich Village and date back to the 1830s. Leibovitz's plan was to combine 755 Greenwich Street and 757 Greenwich Street into a single 9,000 sqft life/work space. These plans, of course, are in jeopardy, and the former owner of the Greenwich Street homes, Jay Furman, partner in FYH Village LLC, is calling the sale a "big mistake."

The renovations have taken years, resulting in legal action from the Greenwich Village Society for Historic Preservation and a $15 million lawsuit against Leibovitz by her next-door neighbor. The suit was settled in 2003, when the photographer bought the litigant's building for $1.87 million. So, she wound up paying for three properties (12,000 sq. ft. in all), which contributed to a tenuous financial situation and the loan from Art Capital Group, according to Bloomberg News.

These transactions were only part of a mountain of debt amassed by the photographer. From 1999 to 2008, Leibovitz borrowed extensively to purchase property and refinance the debt she was carrying. In total, her activity stretched to more than a dozen loans, Bloomberg News reports, all on the back of her real estate holdings. Two 2006 loans – for $4.7 million in November and $2.5 million in December – were extended by Rhinebeck Properties LLC, which happens to have the same address as Conde Nast Publications Inc.

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Tags: annie leibovitz, AnnieLeibovitz, art, artist, artwork, breaking, breaking news, BreakingNews, greenwich, greenwich village, GreenwichVillage, new york, new york city, new york new york, NewYork, NewYorkCity, NewYorkNewYork, photographer, photographs, photography, real estate, RealEstate

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Parade of Ferraris Sets New World Record

by Rigel Celeste (RSS feed) —

Filed under: Luxury Cars & Autos, Events

Here's a fun traffic jam to be a part of: a group of 385 Ferraris parading down the Silverstone circuit in England. It happened just a week or so ago on June 9th as part of a celebration to mark the company's anniversary year. Just a few of the models present were a 250 California Spider, a 275GTB/C, FXX, F40, F50 and an Enzo. The total value of all the Ferraris involved is estimated to be more than $118.4 million.

For the event the cars traveled slowly over a 2 mile course, made sure to stay within 2 car lengths of each other, and were counted both at the beginning and at the end. A representative from Guinness World Records certified the event as a new world record and presented Ferrari officials with a certificate.

What? No certificates for the individual owners/drivers? Bummer.

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Tags: anniversary, breaking, england, ferrari, ferraris, guinness, parade, record, record-breaking, silverstone, world record, WorldRecord