A sketch bought for $30, may be worth $50 million (and lots more from the world of art)

A SUMMARY OF THE MOST EXCITING ART NEWS FROM AROUND THE GLOBE

While we focus on Indian art, we can’t obviously function in a vacuum. It’s a small world and everything is connected, especially on the web. So, let’s train our spotlight across the world map to see what’s going on — from art trends to socio-political issues to everything that affects the great aesthetic global consciousness. Or, let’s just travel the world and have some fun!

Sketch bought for $30 may be worth $50 million

In 2016, a sharp-eyed shopper at a Massachusetts estate sale bought a drawing on a whim. The square of unframed, yellowed linen featured an elegant sketch of a mother and child—and a modest $30 price tag, reports Martin Bailey for the Art Newspaper. Though the sketch bore one of the art world’s most well-known monograms—Albrecht Dürer’s “A.D.”—neither the buyer nor the sellers believed it was a genuine work by the German Renaissance artist. Now, after careful study, multiple scholars say that the delicate ink sketch is an authentic Dürer drawing that could be worth upward of $50 million. Smithsonian Magazine tells you all.

Over $2.6 billion in sales — blockbuster art week sets record

The fall art auctions in New York set an all-time record, as a surge in global wealth, growing inflation fears and the continued collectibles craze boosted demand and prices. Sales at Christie’s, Sotheby’s and Philips totaled $2.65 billion over the course of the two weeks, smashing the all-time record for fall sales of $2.59 billion in 2014, according to Pi-eX, an art data and analytics firm. Collectors battled over everything from classic Cezannes and Van Goghs to a video sculpture tied to an NFT. A record 32 works sold for more than $20 million, according to Pi-eX, and 54 works sold for more than $10 million. The total for Christie’s was $1.14 billion, at Sotheby’s $1.34 billion and at Phillips over $170 million. CNBC sums up the trend.

$60 a piece at a New York subway station… Is that Banksy art?

Speaking in a TikTok, 26 year-old Colleen Alexander explained that she was switching trains on her way home from work when she passed an art exhibition at the 14th st and 8th ave station with pieces resembling Banksy’s work. “There were pieces of art scattered on the subway stop floor, no tarp, no plastic, nothing protecting them,” she said, noting that she had just read about New York’s recent Banksy exhibition, titled “Banksy: Genius or Vandal”. She purchased two pieces for $60 (£44) each. A TikTok account supposedly belonging to Banksy commented, “No comment” on Alexander\’s post. Dazed reports on the development.

Curator accused of making NFTs of works by Anish Kapoor, others sans permission

British curator Ben Moore is being accused of NFT theft. According to the Financial Times, Moore is facing claims that he made NFTs of works by various artists, including Anish Kapoor, without the creators’ permission. Back in 2013, Moore worked with Kapoor, Damien Hirst, David Bailey and others for a charity project called Art Wars, for which artists applied their signature styles to Stormtrooper helmets. Last week, Moore launched a new initiative, also called Art Wars, that sold pictures of the works made for the 2013 project as NFTs. ART News tells you more.