COURTESY THE HUFFINGTON POST
The net value of works in the Tiroche DeLeon Collection art fund, a fund which invests in contemporary art from developing countries, grew 5% in 2014, thanks to two works by Ai Weiwei: Forever (2003), bought in 2011 for $805,000 and now estimated at $2.2m, and Grapes (2008), a chair installation estimated at $1.1m. [The Art Newspaper]
At Art Cologne, Andy Warhol’s Mona Lisa Four Times (1979) sold for $4 million. [The Art Newspaper]
According to a report released by Hiscox fine art insurers, 63% of collectors who buy art online are doing so for the value potential, and 75% of new buyers say they buy art for investment. [The Art Newspaper]
Alfred Taubman, the former owner and chairman of Sotheby’s, has died at age 91. [The Art Newspaper]
Adriana Lara’s “Underlying Patterns: Tragedy and Comedy” at Algus Greenspoon Gallery in New York. [Contemporary Art Daily]
Investing in art or New York apartments are both better options than investing in gold now, apparently. [The Straits Times]
Federal agents have discovered 122 historic works of art commissioned and funded by the U.S. government during the Great Depression in a library in San Mateo, California. The 122 paintings are among an estimated 100,000 pieces that have disappeared in the decades since their completion. [NBC Washington]
A fundraising effort is underway to rebuild Glasgow School of Art’s Charles Rennie Mackintosh library, which burned down last year, destroying students’ work minutes before the degree show. [The Guardian]
Eight artists are participating in “This Is Not an Error,” an online-only art project that transforms Internet 404 error pages into “spontaneous” works of art. [The Huffington Post]