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The Headlines
WILL LARRY LEAVE A VACUUM? Artist, collector, and art world talking head Kenny Schachter doesn’t seem to think Larry Gagosian has a succession plan. For Artnet , he writes, “after confiding with multiple past and present employees, I can reveal his long speculated upon succession plan: there is none! In any guise, it’s my opinion that after his death whatever remains won’t last. He’s chock-a-block geared up with bank leverage and living his best life, which is pretty darned good—trust me, I was invited once to his Hamptons compound for dinner and it was everything you’d imagine (and some). I’m fully cognizant I won’t be returning anytime soon for obvious reasons.” Schachter’s words counter news that emerged a couple of years ago, when the heirless Gagosian appeared to be hatching a plan by assembling a board of directors to help him think through the future of his business. “In addition to seven of his key associates and Gagosian himself, the board features 12 outside members from various industries, all of them collectors,” the New York Times wrote at the time. “These include Evan Spiegel, the chief executive of Snap; the artist Jenny Saville; the financier J. Tomilson Hill, who is the chairman of the Guggenheim Museum ; Glenn Fuhrman, a financier who founded the Flag Art Foundation; and Delphine Arnault, the executive vice president of Louis Vuitton who also serves on the executive committee of its parent company LVMH, run by her father Bernard Arnault, one of the world’s top collectors.”
Related Articles
RUFF COPY. Copying someone else’s images or ideas is usually labeled as plagiarism—but when Rembrandt did it, it was seen as “emulation,” a mark of artistic mastery. That’s the view of experts who have uncovered evidence suggesting that one of Rembrandt’s most iconic paintings may include imagery borrowed from another artist. The Night Watch (1642) depicts Amsterdam ’s civic guards preparing to defend the city, features a barking dog in the lower right corner. According to new research, that dog closely resembles a popular illustration by a lesser-known Dutch artist. Anne Lenders, a curator at the Rijksmuseum, highlighted the resemblance in an academic paper. She draws a direct link between Rembrandt’s dog and an image found on the title page of a 17th-century manual on resisting sexual temptation. Taco Dibbits, general director of the Rijksmuseum, told The Guardian that Rembrandt, like Shakespeare, freely borrowed from earlier sources.
The Digest
Three case studies highlight how the economic downturn is revealing the shaky foundations behind China’s private museum boom. [Artnet News]
European Commissioner for Enlargement Marta Kos will sign a contract for the construction of the Ars Aevi Museum of Contemporary Art in Sarajevo. [Ansa]
Taichung Art Museum, boasting a translucent dual-layer metal facade and part of the newly completed Taichung Green Museumbrary, will be unveiled in Taiwan’s second-largest city in December. [Design Boom]
Find out why “nomadic” art dealer Taymour Grahne is finally putting down roots and betting on Dubai. [Artsy]
The Kicker
AIRING DIRTY LAUNDRY. The UK art market is experiencing a sharp increase in anti-money laundering enforcement, as HM Revenue & Customs (HMRC) moves beyond penalising basic registration failures to closely examining operational compliance, The Art Newspaper reports. On July 10, HMRC published its latest list of penalties issued to art market participants — defined as individuals or businesses involved in buying or selling artworks worth €10,000 or more (either individually or through linked transactions). Among the most significant fines was a £158,679 penalty imposed on London-based DYS44 Art Gallery Limited, cited for extensive procedural shortcomings. These included failures in risk assessment, policy implementation, staff training, due diligence, identity verification, and record keeping. DYS44’s director, Cesare Lampronti, told TAN : “I have taken significant steps to correct this concerning and unusual situation to ensure the gallery is fully compliant with HMRC regulatory developments.” He emphasized that the fine related to procedural issues rather than any involvement in illicit activity.
