Word: auction
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Dates: during 2000-2009
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Collaboration between art and fashion has a long history. Designers like Coco Chanel and Christian Dior were famously inspired by artists like Jean Cocteau and Christian Bérard. But in the current age of opulence, in which contemporary artworks sell at auction for tens and sometimes hundreds of millions of dollars, the relationship has become even more entwined. Art fairs like Miami Art Basel and the Venice Biennale have emerged as important marketplaces for luxury brands like Gucci, Cartier and Bulgari. A fashion-forward designer like Jacobs works with trailblazing artists like Prince and Japan's Takashi Murakami...
...Jesuit-made horse head - one of a set of 12 Chinese zodiac symbols that adorned a palace water clock - was to have been a highlight of Sotheby's fall auctions in Hong Kong next week. But bitter memories were aroused from the moment its inclusion in the bidding became public. In 2000, ox, monkey and tiger heads from the same water clock surfaced in Hong Kong auctions, sales that were denounced by China's State Bureau of Cultural Relics. "It's ridiculous that they brought them back to a part of China to be sold," says Tsang Kin-shing...
...latest purchase means that five heads are there already. Two are in a private European collection, and five are missing. But plenty of China's past is being hawked in the meantime. The Sotheby's auction that was to have included the horse head will feature items not necessarily looted but at least traceable to Qing palaces, including a jade seal worth up to $2.5 million and two paintings worth up to $1.9 million each. Those are high prices, but patriotic tycoons are happy to pay them...
...sure what to hang on your walls? Get your eye in focus with a three-day course on the art of owning art. Sotheby's Institute of Art in London, an independent spinoff of the famous auction house, combines lectures and field trips to contemporary art fairs to train would-be Saatchis in collection building, gallery economics, art investment and the growing role of art fairs themselves. They're "popping up everywhere now," says the Institute's public programs manager Lyn Calzia, and with the weedlike growth of the contemporary art market, "there's such a vast amount to sift...
Study artists the way you'd study racehorses: How did their work fare at auction? Are they heading up or down...