Dealers May Lose Out In Berry-Hill Bankruptcy
Date: 22 Jul 2006 | Views: 6617
Dealers whose pictures were consigned to and sold by Berry-Hill Galleries before it filed for bankruptcy, risk losing the proceeds from their sale, unless Berry-Hill can raise enough money to make a first payment to its secured creditor by 2 August. The amount of money they will get back is uncertain. More...
Speculators Buy In To Chinese Art
Date: 22 Jul 2006 | Views: 6753
In a rocketing economy where government owns the land but is curtailing rampant speculation with new regulations, art is the new real estate in China. But, longtime observers bemoan speculation, saying it artificially warps the prices, and even affects the form and quality of the art. Yet China offers a one-of-a kind, forward-racing, ever-morphing art scene, a heady stew stirred by artists, speculators, critics and curators. Buyers are also playing a role in molding the new faces of Chinese art." More...