More than 400 New York and Los Angeles-based artists have thus received between $200 and $1700 this July, following the sale of 20 artworks by APT, worth a total of $452,085. When a work is sold, 40% of the proceeds go to the artist, whilst the remaining 28% and 32% are divided between APT itself and its pool of artists, depending on the value of their initial investment. The Art Newspaper has more information.
TEFAF Maastricht, whose next edition will run between March 10 and 19, 2017, has announced that Penelope Curtis, director of Lisbon’s Calouste Gulbenkian Museum, has been appointed curator of its “TEFAF Curated” section. The section — dedicated to contemporary art — will showcase work by artists who have not previously shown at the fair. Curtis, who has served as director of Tate Britain between 2010 and 2015, has also notably founded Leeds’ Henry Moore Institute. More on Art Daily.
Sotheby’s has announced that $90 million in online sales have accounted for 3,6% of the auction house’s total sales ($2,5 billion) and 18% of total lots sold globally in the first semester of 2016, registering a 54% growth compared to last year. Art Market Monitor has more information.
Earlier this week, the auction house had reported a $88.6 million second-quarter net income, with a 21% increase compared to 2015. Read more on artnet News.
ASIA NOW, the Paris-based fair dedicated to Asian Art taking place between October 19 and 23 in the city’s 8th arrondissement, has announced it will welcome 30 galleries this year — twice as many compared to its inaugural 2015 edition. The event, held in parallel with the FIAC, will bring together galleries from 11 Asian countries. The fair’s co-founder and director Alexandra Fain has announced that the fair’s program will include a group exhibition curated by Hervé Mikaeloff and Matthias Arndt, as well as the “Women’s Independence Art Show”, celebrating the 100 years of the French brand Etam. The show, curated by Magda Danysz, will bring together works by artists including Liu Bolin, Li Hongbo, Stella Sujin and Yi Zhu, which will be auctioned off to raise money for Naked Heart Foundation, the charity of model Natalia Vodianova. More information on artnet News.
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August 12 | The Artist Pension Trust distributes first collective proceeds since its foundation
The Artist Pension Trust (APT) has announced it has handed back its first returns since its foundation in 2004.
