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Article

Christophe Spaenjers

Set of financial methods, instruments, and business models that are used in the Art market. Important developments since the 1960s include the spreading availability and use of art price information and price indexes (see Art index), the emergence of loans collateralized by artworks, repeated efforts to create art investment structures, and a strong growth in art market advisory services provided by wealth managers and new entrepreneurs (see also Investment).

The first major development has been the spread of art price information and art price indexes over the last half-century. After a few difficult decades, art price levels and public interest in the art market were going up again in the 1950s and 1960s. A number of books on the history of the art market and on art investment that were published around that time—Le Vie Etrange des Objets (1959) by Maurice Rheims, Art as an Investment...

Article

Henry Adams

(b Veracruz, Mar 13, 1880; d Stamford, CT, Jan 10, 1961).

Mexican illustrator, writer, gallery owner, and publisher, active in the USA. He was the son of a wealthy Mexican lawyer and publisher. De Zayas started his career as an artist by providing drawings for his father’s newspaper in Veracruz. In 1906 he moved on to Mexico City’s leading newspaper, El Diario, but a year later, after the ascension of the dictator Porfirio Diaz, whom the newspaper had opposed, he fled to the USA. There he landed a position making caricatures for the New York Evening World. Shortly after his arrival in the USA, he came into contact with Alfred Stieglitz, who staged solo shows of De Zayas’s caricatures at his gallery Gallery 291 in 1909 and 1910, both of which proved to be huge popular successes.

In 1910 De Zayas traveled to Paris, where he stayed almost a year, scouting out adventurous forms of modern art for Stieglitz, notably the cubist work of Picasso and African sculpture. On his return, equipped with knowledge of European modern art and inspired by the work of the French modernist ...

Article

[emerging art markets]

Since the 1980s art markets have developed rapidly outside of Europe and the USA. In the so-called BRIC countries (Brazil, Russia, India, and China) this development has been particularly dynamic. With aggregate sales estimated at €11.5 billion, China is the second largest market for art and antiques in the world after the USA (McAndrew 2014). Works of art made by modern and contemporary artists from all four countries regularly fetch more than $1 million at auction.

The rise of the BRICs has coincided with the global integration of what used to be local art markets: demand for and supply of particular artists or artistic movements may now be dispersed across the globe. The boom which global art markets have witnessed in the new millennium can be attributed partially to new buyers from countries like China and Russia developing an interest in art, both old and new. In describing the emergence of the BRICs, the focus in this article will be on modern and contemporary art, since that is where market development has been most significant, both qualitatively and quantitatively....

Article

Richard H. Saunders

(b Boston, MA, Dec 7, 1727; d Margate, Kent, Sept 16, 1792).

English painter, engraver and auctioneer of American birth. In 1742 he was apprenticed to the Boston engraver Thomas Johnston, though he abandoned engraving for painting (e.g. the group portrait of his own family, the Greenwood-Lee Family, c. 1747; Boston, MA, Mus. F.A.). In 1752 he went to Paramaribo, Surinam, where in the space of five years he painted 113 portraits, which he recorded along with numerous other events and observations in a notebook. While there he painted his best-known work, Sea Captains Carousing in Surinam (c. 1752–8; St Louis, MO, A. Mus.). It is the only tavern scene conversation piece painted in colonial America and was most likely inspired by a print of William Hogarth’s Midnight Modern Conversation (New Haven, CT, Yale Cent. Brit. A).

Greenwood remained in Surinam until May 1758, when he departed for Amsterdam, where he helped reopen the Amsterdam Art Academy, returned to engraving and produced numerous mezzotints. While in the Low Countries he began buying Dutch Old Masters for English collectors and moved to London by ...

Article

Noémie Goldman and Kim Oosterlinck

Term for the return of lost or looted cultural objects to their country of origin, former owners, or their heirs. The loss of the object may happen in a variety of contexts (armed conflicts, war, colonialism, imperialism, or genocide), and the nature of the looted cultural objects may also vary, ranging from artworks, such as paintings and sculptures, to human remains, books, manuscripts, and religious artefacts. An essential part of the process of restitution is the seemingly unavoidable conflict around the transfer of the objects in question from the current to the former owners. Ownership disputes of this nature raise legal, ethical, and diplomatic issues. The heightened tensions in the process arise because the looting of cultural objects challenges, if not breaks down, relationships between peoples, territories, cultures, and heritages.

The history of plundering and art imperialism may be traced back to ancient times. Looting has been documented in many instances from the sack by the Romans of the Etruscan city of Veii in ...