Who owns great art?

Christie's employees view painting by Warhol at public preview in London

By Christy Klancher, Sr. Attorney Editor, Thomson Reuters

What would you do if your museum has a collection of indigenous art on permanent loan from a country that subsequently passes a law requiring that all of its art must be returned? Would you return the collection?

Would your answer change if you learned that the country will destroy the collection if it gets it back, as part of a plan to erase all evidence of the existence of that indigenous people?

This was one of the questions posed at the wonderful Thomson Reuters sponsored CLE (Continued Legal Education) session which I recently attended. It was called Who Owns Matisse? Who Owns Art? A Panel Discussion on Law and Art, and took place at the Minneapolis Institute of Arts. (more…)

Heard Around Aspen – July 1st

Aspen Ideas Festival is wrapping up tomorrow and we have heard from an impressive lineup of interesting and knowledgeable speakers so far. Here are some of the most interesting, provocative and salient quotes we heard around Aspen today:

“Design think is really about empathy for the end user.” – Laysha Ward, president of community relations for Target

“Great experiences are built from the needs and desires of people.” – Sandy Speicher, associate partner at the global design and innovation firm IDEO

“We need a more integrated approach to education to account for educating the whole person.” – Shirley Ann Jackson, president of Rensselaer Polytechnic Institute

“More and more people understand that (marriage equality) is not about people being different; it’s about them being the same. You fall in love, you raise children, you love your children – those commonalities that make us all alike are so much more important.” – David Boies, chairman of Boies, Schiller & Flexner LLP

“The American classroom hasn’t changed in over 150 years. The biggest change is that instead of a blackboard, now we have a whiteboard.” – Eli Broad, founder of The Broad Foundations

“It’s powerful if you can go from the data to someone’s heart.” – Paola Antonelli, senior curator in the Department of Architecture and Design at the Museum of Modern Art in New York

“We need to change the dialogue from ‘what can we do to change education?’ to ‘what can we do to enable learning?’” – Jessie Wooley-Willson, president and CEO of DreamBox Learning

“Art and design lead to discovery.” – Murray Moss, founder and creative mind behind the renowned Moss design gallery


Why SWAG may be a good investment

Silver, wine, art and gold – or SWAG – may be the solution for investors looking for healthy returns. Reuters Columnist James Saft looks at how and why you should consider a little SWAG.

Watch more episodes of Investing 201.

Contemporary Art and Commerce

Rob Cox talks to Brett Gorvy of Christie’s and Art Economist Don Thompson about the multitude of rare, contemporary art works about to hit auction.

Watch more episodes of The Exchange.

Banks now following art like stocks: Is Gerhard Richter an asset class?

Citi Private Bank is now producing analyst reports on artists as it does for stocks. Reuters finance blogger Felix Salmon and Citi Private Bank Art Advisor Jonathan Binstock debate whether artists should be treated like stocks and if this will cheapen the art world.


Heard Around Aspen Today

“Let’s start treating museums as the R&D departments of society.”

Paola Antonelli, Senior Curator, Department of Architecture and Design, Museum of Modern Art, New York