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Jewellery of 'immeasurable worth' stolen in Dresden’s Royal Palace

Jewellery of 'immeasurable worth' stolen in Dresden’s Royal Palace
Two mens breaked into the Green Vault of Dresden's Royal Palace after a fire broke out at an electrical distribution point, deactivating the museum’s alarm and plunging the area into darkness.
“We cannot give a value because it is impossible to sell,” said the Museum's Director, appealing to the thieves not to break the collections into pieces. “The material value doesn’t reflect the historic meaning.”
Fine Art

Hidden Banksy mural to be uncovered in heart of London's Notting Hill

<div>Hidden Banksy mural to be uncovered in heart of London's Notting Hill</div>
The work - known variously as the Graffiti Painter, The Painter or Velazquez - shows an artist, thought to be Spanish painter Diego Velazquez, with an easel writing “Banksy” in large red letters.

Drawn on the corner of Acklam and Portbello Road in 2008, it was covered after developer Enstar Capital began refurbishing the property to make luxury flats.
Fine Art

La technologie pour la transparence du marché de l’art

<div>La technologie pour la transparence du marché de l’art</div>
Quelle est la place des œuvres d’art dans le portefeuille d’investissement des très grandes fortunes? Deloitte Luxembourg a présenté son sixième rapport «Art & Finance» lors de la conférence annuelle Deloitte Art & Finance ce lundi 14 octobre à Monaco.
Fine Art

Banksy's chimp-depicting 'Devolved Parliament' sells for over $12 million

Banksy's chimp-depicting 'Devolved Parliament' sells for over $12 million
“Devolved Parliament”, in which chimpanzees replace politicians in the House of Commons, more than comfortably surpassed its estimated price tag of 1.5 million to 2 million pounds, with the auctioneer declaring “history being made” at one point during the sale which was streamed live.

After bidding that lasted some 13 minutes, the 2009 artwork from a private collection sold to loud applause for a hammer price of 8.5 million pounds, to which fees are added giving a final price of 9,879,500 pounds ($12.2 million).

Fine Art

French auctioneer defies Mexico with sale of pre-Columbian artifacts.

<div>French auctioneer defies Mexico with sale of pre-Columbian artifacts.</div>
Mexico’s foreign ministry on Tuesday said that 95 of the 120 pieces on auction appear to be from Mexican cultures, including the emblematic pre-Columbian city of Teotihuacan, as well as the Olmeca and Maya cultures.

Millon president Alexandre Millon told Reuters on Wednesday that Manichak and Jean Aurance, listed as the owners of the artifacts, satisfied all the legal criteria to justify their ownership of the collection, which they amassed after falling in love with a piece in a Paris gallery in 1963.

“The problem for Mexico is that this collection is exemplary in every way: provenance, publications and exhibitions it has featured in. That should make it a positive platform for Mexico”, Millon, said ahead of the auction.

The collection includes sculptures, masks and religious artifacts from before 1000 BC up to the 18th Century A.D.
Fine Art

Insurers on alert after Blenheim Palace £4.8m gold toilet stolen.

<div>Insurers on alert after Blenheim Palace £4.8m gold toilet stolen.</div>
Insurers have been alerted over the theft of Blenheim Palace’s solid gold toilet - reportedly worth £4.8m - in the early hours of Saturday 14 September. 

The 18-carat piece of artwork by artists Maurizio Cattelan called ’America’ was fully functional and could therefore spark an escape of water claim. 

It was previously in the Guggenheim museum, early reports suggested it was worth £1m, but chief executive at the palace – Dominic Hare said it has been valued at $6m (£4.8m).

It is unknown whether the insurance will cover the lost piece of artwork, both the insurer of the artwork and the claim is yet to be revealed.

According to Reuters, it was part of an exhibition by Cattelan and only opened at the palace two days ago. 
Fine Art

Knife attacker badly damages artwork at Paris' Pompidiou Centre

<div>Knife attacker badly damages artwork at Paris' Pompidiou Centre</div>
The work, "Peinture [Manifestation 3]", suffered "serious deliberate damage" in Thursday afternoon's attack by the man, the museum said in a statement.
It said that a museum attendant alerted security, and video cameras allowed the rapid finding of the suspect. "He made no claim (over the attack) and was handed over to the police," it said.

An investigation has been opened by the judicial authorities after the museum filed a complaint to police.
The artist, 81, has been informed of the incident and the work itself transferred to the stores of the Pompidou Centre to estimate the damage and restoration needed.
Fine Art

It was supposed to be a historic sale. Instead, it was the auction equivalent of a car crash.

<div><span style="font-size: 1.2rem;">It was supposed to be a historic sale. Instead, it was the auction equivalent of a car crash.</span></div>
It was meant to be the star lot in a banner automobile sale for RM Sotheby’s in Monterey Beach, California. Billed as the “first” Porsche, the 1939 Type 64 automobile was one of just three ever built, and the only one to have survived. The car was estimated to sell for up to $22 million, but instead it failed to sell at all due to an embarrassing combination of technical difficulties and an apparently hard-to-parse Dutch accent.

The auctioneer started the bidding at $13 million—or was that 30? From the start, the screen at the front of the room projected the higher number, which would be a pretty aggressive place to start, considering it was well above the high estimate. Viewers in the room started audibly gasping and clamoring to capture photos of the historic moment. The bids came in $500,000 increments, notching up to $40 million, then $50, $60, and finally topping out at an astounding $70 million.
Fine Art

Lionsgate Planning $100 Million New York Studio Complex.

<div>Lionsgate Planning $100 Million New York Studio Complex.</div>
As anchor tenant, Lionsgate will have naming rights to the studio. Construction on the site will start in November, and the facility will be running in late autumn 2020.

The $100 million complex will include three 20,000-square-feet and two 10,000-square-feet stages, a fully operational back lot and the opportunity to create a location-based entertainment property. Lionsgate has already established similar properties in China and the Middle East.

Great Point is a media-focused investment fund run by Robert Halmi and Fehmi Zeko. National Resources will be an investment partner and project developer, responsible for all phases of design and construction of the studio complex.
Fine Art

How Drones Are Disrupting The Insurance Industry

<div>How Drones Are Disrupting The Insurance Industry</div>
The insurance industry is set to be one of the earliest adopters of drones because of the numerous benefits it offers, including better safety, efficiency, faster turnaround time, and reduced costs. Goldman Sachs estimates the global drone industry to reach $100 billion by 2020. Given that insurers today are struggling with an increasing amount of damage from natural disasters and fraud, plenty of insurance companies are aspiring to be data-driven organizations. PwC reported that drone technology could help the insurance industry save as much as 6.8 billion USD annually. 

Insurance companies already employ 17% of all commercial drones. Drones can play a part in all the stages of the insurance lifecycle, especially claims management and fraud prevention. Drone powered solutions also help with real-time insights, risk monitoring, and assessment, as well as improving customer experience during catastrophes.