ARTNET NEWS

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.