Art Industry News: Tate Modern Made Icon of London’s Sky-High Real Estate Prices + More Must-Read Stories

Plus, Damien Hirst's store Other Criteria in Devon closes and an antiquities dealer sues the Wall Street Journal for libel.

The Tate Modern. Photo: Getty Images.

Art Industry News is a daily digest of the most consequential developments coming out of the art world and art market. Here’s what you need to know this Wednesday, July 19.

NEED-TO-READ

French Antiquities Dealer Sues the WSJ for Libel – The dealer, Hicham Aboutaam of Phoenix Ancient Art, claims his business and personal life were damaged by a false May article that stated he was under investigation for potentially trafficking in artifacts looted by ISIS. The Wall Street Journal stands by its story. (The New York Times)

How Much Should Museum Admission Really Cost? – In light of the news that the Broad is charging $25 to visit its upcoming Yayoi Kusama show (rather than its usual free admission), Andrew Russeth argues that the exorbitant funds museums raise for chic building projects might be better spent on a more generous admissions policy. (ARTnews)

Marble Tent Weighing Tons Goes from Athens to Kassel – In another symbolic gesture courtesy of documenta 14, the hand-carved marble tent by Canadian artist Rebecca Belmore, a highlight of the recently closed Athens show, is being shipped to Kassel and will go on view there. (Deutsche Presse Agentur)

What Does Tate Modern Have to Do With London’s Soaring Real Estate Prices? – Today, the Tate Modern’s refurbished power station sticks out among the many abandoned luxury towers now peppering the Bankside and Southwark neighborhoods. Rief Larsen discusses the urban redevelopment consuming London’s skyline and argues for a better balance between hyper-development and thoughtful urban planning. (NYT)

ART MARKET

Damien Hirst’s Seaside Gallery Other Criteria to Close – The Devon gallery and boutique selling pictures, butterfly prints and spin paintings for the past 15 years will close to become a specialist art book publishing house called “Other Criteria Books” in September. (DevonLive)

New York’s Off Vendome Gallery Shuts Down – The gallery, founded in Düsseldorf, has shown the work of artists including Ian Cheng and Margaret Lee and recently participated in the first-ever edition of Condo New York. It will close at the end of this month. (Artforum)

Artsy Gets $50 Million in Venture Capitalist Funding – The New York-based start-up scored the funding for its online art marketplace from Avenir Growth Capital, Joshua Kushner’s (yes, of those Kushners) Thrive Capital, L Catterton, and Shumway Capital, as well as from individual investors. (Press release)

COMINGS & GOINGS

Parisian Gallerist Anne Lahumière Has Died – Lahumière championed the Art Concret and Geometric Abstraction movements in France through the eponymous gallery she ran with her husband and served as the president of the French committee of professional galleries from 1993–2004. She died last Friday at the age of 82. (Le Monde)

Martine Syms and Cauleen Smith to Teach at CalArts – Both artists will join the staff of the California Institute of Arts, Syms in the fall semester and Smith in the winter semester. (ARTnews)

FOR ART’S SAKE 

Royal Academy Unveils Façade Restoration – The £50 million project, designed by David Chipperfield, will unite the RA campus in time for 250th anniversary in 2018. The facade, to be unveiled this summer, has been cleaned of 90% of the grime and dirt collected on it since “polluted Victorian London.” (The Art Newspaper)

New Sculpture Triennial Secures Funding from Arts Council England – Yorkshire Sculpture International, a collaboration between the Henry Moore Institute, Leeds Art Gallery, The Hepworth Wakefield, and Yorkshire Sculpture Park, is slated to hold its first-ever edition next summer. (Artdaily)

Lucian Freud Works Go on View in Berlin  Marking the first major show dedicated to the artist in his city of birth, the exhibition from the UBS art collection, which opens this Saturday, features three paintings and 51 etchings, representing the the artist’s prolific graphic production. (Press release

Lucian Freud, Naked Man on a Bed, (1987) ©The Lucian Freud Archive/Bridgeman Images UBS Art Collection

Lucian Freud, The Painter´s Mother, (1982) ©The Lucian Freud Archive/Bridgeman Images UBS Art Collection

Lucian Freud, Double Portrait, (1988-90) © The Lucian Freud Archive/Bridgeman Images UBS Art Collection


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