Russia oligarchs still able to exploit UK art market loopholes, experts say
Warning that laundering of Kremlin-linked cash will be possible despite PM’s claim there is ‘nowhere to hide’
Source: theguardian.com
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Russian-Owned Phillips Auction House Will Donate the Full Net Proceeds From Its London Sale—$7.7 Million—to the Ukrainian Red Cross
Phillips announced the Red Cross partnership the morning of the sale as some collectors called on a boycott of the auction house.
Source: artnet.com
Russian-Owned Phillips Auction House to Donate $7.7 Million to Ukrainian Red Cross Society
Phillips auction house announced on the morning of March 3 that it would donate 100 percent of the buyer’s premium and vendor’s commission from its 20th Century & Contemporary Art Evening Sale to the Ukrainian Red Cross Society. At the end of the day, £5.8 million ($7.7 million) from the £30 million (nearly $40 million) sale in London will head to Ukraine. The announcement came after some collectors, responding to Russia's attack on Ukraine, suggested a boycott of the Russian-owned ...
Source: artfixdaily.com
The Back Room: Red Alert | Artnet News
This week: the war's blowback on the art economy, a CryptoPunk collusion, high-flying auction action, and much more.
Source: artnet.com
The Financial Community Is Shutting Its Doors to Russia. Will the Art Market Follow?
The same conditions that create soaring values are now being used to keep a lid on art being used as an asset.
Source: artnet.com