Word: auction
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Dates: during 2000-2009
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...bull is called The Golden Calf and it's headed to market at Sotheby's in London, where it will be the star of a much hyped two-day sale of 223 works by Hirst that begins on Sept. 15. This will be the first time any auction house has sold a quantity of work fresh out of an artist's studio. As auction prices for contemporary art have rocketed ever higher, galleries have been dreading this very possibility: that a famous artist would bypass his dealers - who usually get a cut of roughly half of a work's sale...
...wayward boy's business affairs in hand, not least renegotiating Hirst's split with dealers. Dunphy says Hirst's galleries now accept an arrangement that gives the artist as much as 70% of the sale price, instead of the standard 50%. But even with that advantageous formula, an auction in which Hirst reaps almost all the profits, while merely covering some sundry costs, was too much to resist. He'll still work with dealers, says Dunphy. But "Damien's far enough up the greasy pole...
...Within the art world, the announcement of Hirst's Sotheby's sale did not really come as a surprise. The last few years have seen a phenomenal increase in auction prices for contemporary art. Many of the buyers come from Russia, Asia and the Middle East, where a new class of billionaire collectors has emerged. It was none other than the royal family of Qatar that briefly made Hirst the most expensive living artist at auction last year by paying $19.2 million for Lullaby Spring, one of his medicine-cabinet pieces...
...waters around the site, buy out about 480 workers who lost their jobs when the shipyard shut down, and upgrade Tivat's sewage and water-supply systems. Munk is even offering local students scholarships to Canadian universities. Initial hostility from opposition politicians who accused him of planning to auction off the land for a quick buck has abated. "This is just the kind of project that Montenegro needs," says Rade Ratkovic, a professor at the Faculty for Tourism, Hospitality and Trade Management in the port city of Bar. "We should award him a title: Count Munk of Tivat...
...heavily partisan fans raised the decibel level past rock-concert intensity, Lin rewarded the audience after the match by throwing his racket into the crowd. Next came one sweaty shoe, then another. Chances are Lin's throwaways are already attracting furious bidding on Chinese online auction sites - if, that is, the lucky recipients can bear to part with such national treasures...