The Chronicle of Philanthropy released its annual list of the top 50 donors in America today, 12 of which are big players in the arts. The 50 philanthropists gave a total of $10.4 billion last year, with cultural institutions getting a total of more than $213 million from the 12 arts patrons.
“Caveat Emptor” should be your slogan when it comes to buying artworks by contemporary artists on the “secondary market,” or so a recent legal filing reminds us. New York collector Joseph Goldsmith is suing dealers Robert Durant and Lee Charlton Scott for selling him $950,000 worth of artworks by Jean-Michel Basquiat, Keith Haring and Andy Warhol, which he now believes are fakes.
Walmart is planning to open a new 160,000-square-foot store in midtown Miami, and the development is going to force several art fairs to look for new homes.
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