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The Blobification of the Art Industry: How Lockdown Has Accelerated the Blurred Lines Between Galleries and Auction Houses

The Blobification of the Art Industry: How Lockdown Has Accelerated the Blurred Lines Between Galleries and Auction Houses
As they compete for art market dominance, auction houses and galleries are increasingly adopting one another s sales strategies.
April 13, 2021
Sotheby’s exhibition of Prints & Multiples is now open in London, England, ahead of the auction on 19th March at Sotheby s on March 13, 2020 in London, England. Photo by Tristan Fewings/Getty Images for Sotheby s.
In February last year, a group of art-dealing titans went public with an unusual proposition they would team up and sell the storied collection of the late philanthropist Donald Marron. The move was a shock to the art-world system because it saw three galleries, Gagosian, Pace, and Acquavella, snaffling up a $450 million estate that historically would have been the territory of auction houses. ....

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How Biden's No-Tax Pledge Could Sink His Climate Change Initiative

How Biden's No-Tax Pledge Could Sink His Climate Change Initiative
forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.

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New York University: Laurie Garrett, a Pulitzer-Prize-winning journalist, will deliver "COVID-19: What Comes Next—And the Future of Global Health," a virtual lecture, on April 13. – India Education,Education News India,Education News

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Laurie Garrett, a Pulitzer-Prize-winning journalist, will deliver “COVID-19: What Comes Next And the Future of Global Health,” a virtual lecture, on Tues., April 13, at 5:30 p.m. EDT.
The event, NYU’s College of Arts and Science Irving H. Jurow Lecture, is free and open to the public. An RSVP is required by emailing cas.events@nyu.edu. Zoom coordinates will be sent to attendees the day of the event.
Garrett, author of The Coming Plague: Newly Emerging Diseases in a World Out of Balance, has won two Polk Awards and a Peabody Award, in addition to the Pulitzer Prize, which she received in 1996 for her coverage on the Ebola outbreak as a reporter for Newsday. ....

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Eight Must Reads for the CRE Industry (Feb. 19, 2021)

Eight Must Reads for the CRE Industry (Feb. 19, 2021)
Retail Dive examined why Westfield is exiting the U.S. retail real estate market. Marriott posted its first annual loss since 2009, according to the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.
Why mall landlord Westfield is leaving the US “A shakeout is already underway. Newly minted URW CEO Jean-Marie Tritant on a conference call with analysts last week said that a slew of retail bankruptcies and department store closures last year spiked the vacancy rate of its U.S. fleet. It s a situation that has affected the industry more broadly, squeezing what by Green Street s estimation would have been a five- to 10-year contraction into just two.” ( ....

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New Effort To Abolish Carried Interest Tax Break Begins In Congress

New Effort To Abolish Carried Interest Tax Break Begins In Congress
A bill to do away with a tax break that has been in the crosshairs of reformers for years has been introduced in the U.S. House of Representatives.
Derided by critics as a loophole, the tax break, known as carried interest, which benefits equity fund managers but also partnerships that own commercial real estate, has remained part of the tax code since 1954.
Under the Carried Interest Fairness Act of 2021 (H.R. 1068), the share of a private fund or partnership s profits that is paid to managers as part of their compensation, or carried interest, would be taxed as ordinary income at a rate of as much as 37%. Under existing tax law, it is taxed at the lower capital gains rate, a maximum of 23.8%. ....

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