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6 Questions With Fanny Lakoubay, Founder of LAL ART Advisory, About the Future of the Digital Art Market

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In three words, how would you characterize the digital art market at this point in 2023?

Emerging, uneven, and promising. This segment has been around for many years, but it has always remained a very small portion of the contemporary art market. However, artists are building for the long term.

What do public sales figures not tell us about what’s going on in the market for digital art?

The press usually highlights auction records, which can be overwhelming for digital art, as sales are often linked to cryptocurrency ups and downs. Collectors of physical artworks are slowly adding this medium to their collections and young people are buying in, but both efforts will take time.

What shifts in the digital art market have surprised you most this year?

We are in a situation similar to that of 2020, where the market is in search of the next wave of collectors. There is a risk of oversupply, but also a great opportunity to get in while prices are not yet very high.

What trends are worth watching closely?

Blue-chip collections, especially in the generative art category, are maintaining high prices. AI art is also developing as a genre, as well as other categories, such as literary NFTs, performance art on the blockchain, digital sculpture, and metaverse architecture. Finally, the new wave of digital artists is bringing renewed attention to historic computer artists, such as Herbert W. Franke, Frieder Nake, and Vera Molnár. Galleries have started exhibiting these pioneering works alongside new digital works, allowing collectors to see a larger art history. This is a great way to build the future on a strong base.

Artist Vera Molnár in her Home and Studio Workshop in Paris. Photo: Catherine Panchout / Sygma via Getty Images.

Artist Vera Molnár in her home and studio workshop in Paris. Photo: Catherine Panchout/Sygma via Getty Images.

How are digital art collectors approaching their investments differently in the wake of crypto winter?

While many crypto art collectors have slowed down, it seems to be mostly due to an oversaturation of works. This creates tension for digital artists who are not yet widely recognized or supported by a core collector group.

What new and emerging technologies could impact the future of the digital art market?

The current blockchain technology still needs to be explored further, and a service layer, such as asset security, insurance, backup services, and display options, needs to be developed to onboard the next wave of collectors.

AI is definitely going to make this happen faster. Besides, decentralized governance and new ways to organize artist collectives, exhibitions, and documentation are not to be underestimated. Many museums, for example, are looking at ways to use DAOs to get their communities to the next level.

 

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A misspelled memorial to the Brontë sisters gets its dots back at last

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LONDON (AP) — With a few daubs of a paintbrush, the Brontë sisters have got their dots back.

More than eight decades after it was installed, a memorial to the three 19th-century sibling novelists in London’s Westminster Abbey was amended Thursday to restore the diaereses – the two dots over the e in their surname.

The dots — which indicate that the name is pronounced “brontay” rather than “bront” — were omitted when the stone tablet commemorating Charlotte, Emily and Anne was erected in the abbey’s Poets’ Corner in October 1939, just after the outbreak of World War II.

They were restored after Brontë historian Sharon Wright, editor of the Brontë Society Gazette, raised the issue with Dean of Westminster David Hoyle. The abbey asked its stonemason to tap in the dots and its conservator to paint them.

“There’s no paper record for anyone complaining about this or mentioning this, so I just wanted to put it right, really,” Wright said. “These three Yorkshire women deserve their place here, but they also deserve to have their name spelled correctly.”

It’s believed the writers’ Irish father Patrick changed the spelling of his surname from Brunty or Prunty when he went to university in England.

Raised on the wild Yorkshire moors, all three sisters died before they were 40, leaving enduring novels including Charlotte’s “Jane Eyre,” Emily’s “Wuthering Heights” and Anne’s “The Tenant of Wildfell Hall.”

Rebecca Yorke, director of the Brontë Society, welcomed the restoration.

“As the Brontës and their work are loved and respected all over the world, it’s entirely appropriate that their name is spelled correctly on their memorial,” she said.

The Canadian Press. All rights reserved.

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Calvin Lucyshyn: Vancouver Island Art Dealer Faces Fraud Charges After Police Seize Millions in Artwork

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In a case that has sent shockwaves through the Vancouver Island art community, a local art dealer has been charged with one count of fraud over $5,000. Calvin Lucyshyn, the former operator of the now-closed Winchester Galleries in Oak Bay, faces the charge after police seized hundreds of artworks, valued in the tens of millions of dollars, from various storage sites in the Greater Victoria area.

Alleged Fraud Scheme

Police allege that Lucyshyn had been taking valuable art from members of the public under the guise of appraising or consigning the pieces for sale, only to cut off all communication with the owners. This investigation began in April 2022, when police received a complaint from an individual who had provided four paintings to Lucyshyn, including three works by renowned British Columbia artist Emily Carr, and had not received any updates on their sale.

Further investigation by the Saanich Police Department revealed that this was not an isolated incident. Detectives found other alleged victims who had similar experiences with Winchester Galleries, leading police to execute search warrants at three separate storage locations across Greater Victoria.

Massive Seizure of Artworks

In what has become one of the largest art fraud investigations in recent Canadian history, authorities seized approximately 1,100 pieces of art, including more than 600 pieces from a storage site in Saanich, over 300 in Langford, and more than 100 in Oak Bay. Some of the more valuable pieces, according to police, were estimated to be worth $85,000 each.

Lucyshyn was arrested on April 21, 2022, but was later released from custody. In May 2024, a fraud charge was formally laid against him.

Artwork Returned, but Some Remain Unclaimed

In a statement released on Monday, the Saanich Police Department confirmed that 1,050 of the seized artworks have been returned to their rightful owners. However, several pieces remain unclaimed, and police continue their efforts to track down the owners of these works.

Court Proceedings Ongoing

The criminal charge against Lucyshyn has not yet been tested in court, and he has publicly stated his intention to defend himself against any pending allegations. His next court appearance is scheduled for September 10, 2024.

Impact on the Local Art Community

The news of Lucyshyn’s alleged fraud has deeply affected Vancouver Island’s art community, particularly collectors, galleries, and artists who may have been impacted by the gallery’s operations. With high-value pieces from artists like Emily Carr involved, the case underscores the vulnerabilities that can exist in art transactions.

For many art collectors, the investigation has raised concerns about the potential for fraud in the art world, particularly when it comes to dealing with private galleries and dealers. The seizure of such a vast collection of artworks has also led to questions about the management and oversight of valuable art pieces, as well as the importance of transparency and trust in the industry.

As the case continues to unfold in court, it will likely serve as a cautionary tale for collectors and galleries alike, highlighting the need for due diligence in the sale and appraisal of high-value artworks.

While much of the seized artwork has been returned, the full scale of the alleged fraud is still being unraveled. Lucyshyn’s upcoming court appearances will be closely watched, not only by the legal community but also by the wider art world, as it navigates the fallout from one of Canada’s most significant art fraud cases in recent memory.

Art collectors and individuals who believe they may have been affected by this case are encouraged to contact the Saanich Police Department to inquire about any unclaimed pieces. Additionally, the case serves as a reminder for anyone involved in high-value art transactions to work with reputable dealers and to keep thorough documentation of all transactions.

As with any investment, whether in art or other ventures, it is crucial to be cautious and informed. Art fraud can devastate personal collections and finances, but by taking steps to verify authenticity, provenance, and the reputation of dealers, collectors can help safeguard their valuable pieces.

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Ukrainian sells art in Essex while stuck in a warzone – BBC.com

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Ukrainian sells art in Essex while stuck in a warzone  BBC.com

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