2017 saw one of the greatest art sales with the $450 million sale of a Leonardo Da Vinci. Phillip Ashley Klein is the Art and Finance Leader at Deloitte Consulting and he joins Cheddar to explain why 2018 could be an even bigger year for art than 2017.
The Rockefeller collection is set to go on sale this May and it is estimated that the sale could go for as high as $600 or $700 million. Klein explains that for investors, art is a strong protector of value.
In terms of innovation in the art space, Klein says the industry is seeing big investment in art analytic companies. These are companies that can help collectors and artists decide when to bring a piece to market, where in the world to sell it, and even what time of year to go forward with a sale. Artificial intelligence and data mining are being utilized to deliver these results.
The British Museum said Wednesday that a member of its staff has been dismissed after items dating back as far as the 15th century B.C. were found to be missing, stolen or damaged.
A central Florida art museum which was raided last year by the FBI over an exhibit of what turned out to be forged Jean-Michel Basquiat paintings has sued its former executive director and others, claiming they were part of a scheme to profit from the eventual sale of the fake artwork.
Actor Craig Robinson spoke to Cheddar News' Azia Celestino about the hilarious new episodes that follow the entrepreneurs as they embark on a new effort to make money and achieve the American dream.
