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A @banksy painting valued at $35,000 USD has been stolen from a gallery in Toronto, Canada. The work titled “Trolley Hunter” was stolen from ‘The Art of Banksy’ exhibition at 5am local time. Toronto Police is still in search of the suspect.

Source: HypeBeast

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Kanye West paid $85,000 (£63,640) to license an image of Whitney Houston’s drug-strewn bathroom for the cover of Pusha T’s new album, Daytona. Pusha T told radio host Angie Martinez that West, who produced Daytona, changed the artwork at the last minute, calling him at 1am to declare: “This is what people need to see to go along with this music.”

The photograph was taken in Houston’s Atlanta home in 2006 after an alleged drug binge and depicts paraphernalia apparently related to the consumption of crack cocaine. The image was released to the public after Houston’s death at the Beverly Hilton hotel in February 2012, which was caused by drowning and the effects of coronary heart disease and cocaine consumption.

A painting by famed artist Kerry James Marshall has been sold by Chicago’s Metropolitan Pier and Exposition Authority for $21.1 million.

The price paid Wednesday in an auction at Sotheby’s New York set a record for a work by the African-American artist. A Sotheby’s spokesman says four bidders competed for the work, driving the selling price beyond the high estimate of $12 million.

“Past Times” had for years been displayed in the South Building of McCormick Place where a replica now hangs. The real painting was purchased in 1997 for $25,000.

Marshall, born in Birmingham, Alabama who grew up in South Central LA is now a resident of Chicago, is known for his depictions of African-American life.

Source: chicago tribune

(New York, NY ) Amedeo Modigliani’s 1917 masterpiece ‘Nu couché’ sold for $157.2 million – the highest auction price achieved in Sotheby’s history. Painted a century ago, ‘Nu couché’ is the greatest work from the iconic series in which Modigliani reinvented the nude for the Modern era. Upon their exhibition in 1917, these alluring images stopped traffic – quite literally – and prompted police to shutter the show. Today, the series is recognized as one of the seminal achievements in Modern painting.

Source: Sotheby

Washington, DC—New data released by the U.S. Bureau of Economic Analysis (BEA) and the National Endowment for the Arts (NEA) offers an insightful picture of the impact the arts have on the nation’s economy. The arts contribute $763.6 billion to the U.S. economy, more than agriculture, transportation, or warehousing.  The arts employ 4.9 million workers across the country with earnings of more than $370 billion. Furthermore, the arts exported $20 billion more than imported, providing a positive trade balance.

• The arts added four times more to the U.S. economy than the agricultural sector and $200 billion more than transportation or warehousing.

• The arts saw a $20 billion trade surplus, leading with movies and TV programs and jewelry.

• The arts trended positively between 2012 and 2015 with an average growth rate of 2.6 percent, slightly higher than 2.4 percent for the nation’s overall economy. Between 2014 and 2015, the growth rate was 4.9 percent in inflation-adjusted dollars.

source: Art.gov

The official portraits of former United States President Barack Obama and former First Lady Michelle Obama were unveiled at an emotional and historic ceremony at the National Portrait Gallery in Washington, D.C. on Monday morning.

The stunning depiction of President Obama, by artist Kehinde Wiley, and of his wife, by Amy Sherald, drew gasps and applause as each subject and artist together removed the black veils covering the portraits for a dramatic reveal.

Both Wiley and Sherald faced an unprecedented and monumental task: to capture the first African Americans elected to serve as president and first lady in a building built by slaves. But neither artists’ brush failed under the weight of history. The portraits are deft, thoughtful comments on race and representation in America that also provide an intimate encounter with the psyche of their individual subjects

Source: Artsy

Jeff Bezos had a lot to be grateful for this Thanksgiving weekend. After record-breaking weekend sales, Amazon’s stock price hit an all-time high of $1,213.41 a share on Monday. That pushed Bezos’ net worth to over $100 billion, which is up 35% from the same period last year, according to Bloomberg.

Thanks to that recent surge, Bezos has once again passed Microsoft co-founder Bill Gates as the richest person in the world.

Source: BusinessInsider

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