Saudi royals are selling off art, jewels, and yachts as the Crown Prince tightens purse strings + more art industry news:
A Pissarro painting that was subject to a legal battle between the heirs of a Jewish couple whose collection was seized by the Nazis and a Jewish family who bought the work in 1994 will be sold at auction in May after the two parties reached a confidential settlement.is expected to fetch between $1.2 million and $1.8 million at Christie’s New York on May 14.
Stakeholders have said that such a session could not be held in a country that has damaged or destroyed nearly 100 cultural sites in Ukraine during its ongoing invasion. A splashy benefit dinner and auction helmed by Simon de Pury in Venice last week raised more than €1.2 million for humanitarian efforts in Ukraine. The funds will be distributed to organizations including Museums for Ukraine, the Maria Prymachenko Foundation, the Ukrainian Emergency Pavilion, and Ukrainian Emergency Art Fund.
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