WIKIMEDIA COMMONS
The “Breakfast with ARTnews” newsletter with morning links is now available as a Spoken Edition on iTunes, Spotify, and other platforms.
Matters of the Market
A paper trail has revealed that Crown Prince Muhammad bin Salman—the heir to the Saudi throne who was behind the purchase of Leonardo’s Salvator Mundi for $450 million—is the buyer of a $300 million chateau outside of Paris. In the New York Times, reporters Nicholas Kulish and Michael Forsythe reveal the secrets behind the world’s most expensive house, and how the Saudi royal was able to acquire it through fixers in Malta and Luxembourg. Along with a $500 million yacht that Muhammad bin Salman bought in 2015, the string of pricy acquisitions contradicts the Crown Prince’s desire to have the reputation of a reformer cracking down on unnecessary spending. [The New York Times]
James Tarmy at Bloomberg has been closing out the year by looking at artists that have been underrated by the market—perhaps tipping off the publication’s well-heeled readership on a keen investment. Here, Tarmy examines the market for work by Michael Krebber, and gets testimonials from advisor Eleanor Cayre, Allen Schwartzman and Pierre Orlowski, who claims that, even if you can get a Krebber now for under $100,000, “In 10 years, you’ll see Krebber selling for a million dollars.” [Bloomberg]
The Belgian dealer and interior designer Axel Vervoordt has opened a cultural center in an old distillery outside of Antwerp. Scott Reyburn of the New York Times spoke with Vervoordt at the opening in November. [The New York Times]
The Talent
Steve McQueen is making a memorial for the Grenfell Tower tragedy, the fire that blazed through London in June, claiming over 70 lives. The Belfast Telegraph reports that it will eventually end up in a museum. [The Belfast Telegraph]
Damien Hirst gives a length interview to Roya Nikkhah of the Sunday Times Magazine, showing off his Newport Street Gallery in London and discussing his controversial show in Venice that just closed, “Treasures from the Wreck of the Unbelievable.” [The Sunday Times Magazine]
Miuccia Prada speaks to W‘s Erik Maza about her collaboration with Carsten Höller in Miami, and about how she got started on collecting. [W]
Historic Movie Houses
Lincoln Plaza Cinema, an art film theater on the Upper West Side of Manhattan, will be closing next month, so the New York Times sent Vivian Wang to the scene to talk to regular moviegoers about what the neighborhood is losing. [The New York Times]
But on a brighter note, Newsday reports that Sag Harbor Cinema has raised the $8 million needed to be renovated and rebuilt. The historic theater in the Hamptons town was badly damaged in a fire last year. [Newsday]
Museums Across the Country
The Chicago Tribune‘s Jessi Roti reveals the exciting news that Chance the Rapper is working with the Field Museum to host a special event that opens the institution up after hours for kids and families December 20. [The Chicago Tribune]
The Cleveland Museum of Art has acquired Pierre Huyge’s Name Announcer, a performance wherein a man in a tuxedo asks visitors for their name as they enter the museum, and then shouts it. The Cleveland Plain Dealer explains that the work relates to other parts of the collection, such as Sol LeWitt’s Wall Drawing #4 (1969), and Anicka Yi’s Washing Away of Wrongs (2014). [The Cleveland Plain Dealer]
A San Francisco Treat
San Francisco’s Treasure Island is set to be redeveloped and will include three large-scale public art commissions, each with a budget of $1 million to $2 million. SFGate has revealed that the finalists include Ai Weiwei, Andy Goldsworthy, Chakaia Booker, Antony Gormley, Jorge Pardo, Hiroshi Sugimoto and Pae White. [SFGate]