COURTESY WIKIMEDIA COMMONS
According to the latest annual report commissioned by The European Fine Art Fair (TEFAF), written by the economist Clare McAndrew, the art market is at an all-time high, with more than €51 billion traded internationally last year. But almost half of the total spend on art last year was on a handful of objects: 48% of the global total comes from 1,530-or-so works which sold for more than €1m at auction (including 96 works that sold for more than €10m). [The Art Newspaper]
In addition to yesterday’s news about the Met’s new president, it has been announced that David Chipperfield Architects will be developing a new design for the museum’s southwest wing, which showcases modern and contemporary art. Chipperfield’s firm will also possibly redesign adjacent Africa, Oceana, and Americas galleries. [Artforum]
Jonty Hurwitz’s miniature, ant-size sculpture was accidentally crushed by a photographer’s finger. It had been the world’s smallest sculpture. [The Independent]
Clark Art Institute in Williamstown, Massachusetts, has received a $15 million dollar gift. [Artforum]
A peek inside Leonardo DiCaprio’s art collection. [Artnet]
See Trevor Shimizu’s “Trying To Be A Good Person,” at Rowhouse Projects in Baltimore. [Contemporary Art Daily]
Colonial Williamsburg has offered to help Iraqi cultural experts safely store relics threatened with destruction by Islamic State militants. [Reuters]
A team of Colorado State University archaeologists have discovered an ancient city in the Honduran rainforest, with stone artifacts dating back to 1000 to 1400 A.D. [New York Observer]
Detroit Institute of Arts will open a public exhibition of the works of Diego Rivera and those of his wife, Frida Kahlo, this month. [Reuters]