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 on this Tuesday, March 2.

NEED-TO-READ

Spanish Museum Will Return Two Nazi-Looted Paintings to Poland – The Museum of Pontevedra will return a pair of paintings that were looted by the Nazis during World War II. The works by Flemish painter Dieric Bouts date to the 15th century and are currently on view in a special presentation before they are restituted to the state-owned Czartoryski family collection in Poland. (ARTnews)

In Defense of Stonehenge Road Tunnel Proposition – English archeologist Timothy Darvill wants to offer a counter-narrative to all the bad press that the proposed underground tunnel below Stonehenge has been receiving. For one, he says, this idea has been decades in the making, and archeologists have been consulted every step of the way. (Apollo)

Turns Out, Osama Bin Laden’s Son Is a Painter – The fourth-eldest son of Al-Qaeda leader Osama bin Laden has an artistic side, which he says that he gets from his mother. He has been busy over the past year of lockdown from his home in Normandy, France, making works depicting US landscapes, like the Arizona desert. “I think I’m trying to find some light at the end of this dark road,” he said. “I hope painting will open the light in my life again.” (Vice)

Chancellor to Announce Additional £400 Million for the Arts – UK Chancellor Rishi Sunak is preparing to announce an injection of £408 million ($568 million) to help the country’s museums, theaters, and galleries reopen when pandemic restrictions ease. He added that the cultural sector and its 700,000 employees will be a “significant driver” in the UK’s post-lockdown recovery. According to current plans, museums and cinemas will reopen on May 17.(BBC, Evening Standard)

ART MARKET

Collectors Are Turning Their Yachts Into Museums – You would think that a boat would be the last place you would want to store your multimillion-dollar art collection. But then you wouldn’t be thinking like a billionaire. As it turns out, some wealthy collectors consider their temperature- and humidity-controlled yachts to be safer places to store their art than their homes. (Robb Report)

NADA Adds New Members – The New Art Dealers Alliance has added three new board members and 24 new gallery members from 12 cities in seven countries. Its new board members are Danny Baez of Regular Normal, Joeonna Bellorado-Samuels of We Buy Gold and Jack Shainman Gallery, and Aron Gent of Document. (Press release)

COMINGS & GOINGS

The Bayeux Tapestry Will Undergo Restoration in 2024 – The Bayeux Tapestry will be restored beginning in 2024, according to Bayeux Museum in France, where the 11th century work is held. The museum will close for two years to conserve the Romanesque textile piece that details the conquest of England by William the Conqueror. (Le Journal des Arts)

Sculpture by Nazi-era Artist Removed from College Campus – A work by German sculptor Fritz von Graevenitz, who was celebrated by the Nazi Party, has been taken down and put in storage at St. Mary’s College in Moraga, California, after three students started a petition. The work, nicknamed “Falcon Boy,” is a metal statue of a boy and a falcon that stood on the courtyard of the campus art museum. (San Francisco Chronicle)

FOR ART’S SAKE

MoMA Puts the Spotlight on Cézanne’s Works on Paper – New York’s Museum of Modern Art is planning a major show, “Cézanne Drawing,” that will look at the artistic roots of the famous painter. Set to open June 6 , it will be the first show in the US to bring together the artist’s works on paper, which range from private sketchbooks to vibrant watercolors. (The Art Newspaper)

Emma Talbot Will Present Work in Piccadilly Circus – The artist and recent winner of the eighth Max Mara Art Prize for Women will show four hand-drawn animations commissioned by CIRCA for its ongoing Piccadilly projection project. Talbot’s works will be on view throughout March. (Press release)