Freeport For Art In New York – Art News Roundup

From a brand new tax-free art storage facility in New York to a successful week of art auctions. Read on to catch up with the art news this week!

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There’s always something going on in the art world. Every Sunday, Agora starts the new week by looking back at what happened the week before. Here are our top art news stories from February 26th – March 4th, 2017.

freeport for art
Source: Artnet

Freeport For Art In New York

Set to open in the summer, based on the model of similar facilities in Singapore, Geneva and Delaware, New York will now have a state-of-the-art storage facility with a foreign trade zone status – the artworks stored in the facility will not be taxed. The facility is a venture by the existing storage company, ARCIS. The building is located on 146th street and under construction at the moment. It  is being speculated to be very beneficial to collectors and gallery-owners alike in terms of shipping and storage costs. Full Story Here →

The Number Game

This week was particularly beneficial for the big names in the art auction industry.

As compared to last year, Christie’s experienced a 45% increase in sales at their latest auction. René Magritte’s La Corde Sensible (1960) was the highest selling artwork of the evening. The seminal work fetched £13.5m. Another work by Magritte was sold for  £9m. Full Story Here →

Sotheby’s too had a fruitful auction, with a Gustav Klimt selling for £42.5m. Their latest auction was also the highest-ever total fetched in a London evening auction. Full Story Here →

freeport for art

‘Portals Of Perception’ And ‘The Saturated Palette’ Open At Agora

On March 10, two group exhibitions Portals Of Perception and The Saturated Palette are all set to open to the public. Hailing from all over the globe, the shows feature 15 talented artists who work in a wide range of mediums. From brilliant acrylics to mesmerizing fine art photography, the exhibition has a little something for every art lover. The exhibition will be on view until March 30. Full Story Here →

 

These are just some of the many news stories that caught our eye this past week. For more stories as-they-happen, be sure to also follow our Facebook and Twitter. You can also sign up for our newsletter for news about Agora Gallery, our exhibitions, and our artists!

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