Galleries and an Auction House Follow Collectors to Florida

As the birds fly south for the winter, some of the art world will undertake a similar migration: Pace Gallery, Acquavella Galleries and Sotheby’s are opening seasonal gallery spaces in Palm Beach, Fla., a hub for wealthy vacationers.

They’ll all open in the Royal Poinciana Plaza, a shopping destination there, in early November and stay until spring. Planned exhibitions feature big names: The first at Pace will be of James Turrell’s work; Acquavella will open with the show “Masterworks: From Cézanne to Thiebaud”; and the first presentation at Sotheby’s will include paintings by Andy Warhol and Jean-Michel Basquiat, as well as Rolex timepieces and midcentury furniture. This all comes on the heels of summer when Pace, Sotheby’s and other art world institutions opened seasonal spaces in the Hamptons — following collectors who had fled New York because of the pandemic.

“The success of our East Hampton space met and exceeded expectations, so we thought, ‘How can we continue this model in a location appropriate for the season?’” said Adam Sheffer, vice president of Pace. “Given how vital South Florida is for the international art ecology, and given the great museums there, and the collector base, it seemed like a logical choice.” Mr. Sheffer said more of Pace’s clients were spending extended time in Florida.

Why not head to Miami Beach, which typically hosts the Art Basel fair in December and is already on the art world map? “We have a lot of clients in Miami as well, so it’s not really one versus the other,” said David Schrader, the global head of private sales at Sotheby’s. “We thought this would be a compelling destination.” Eleanor Acquavella, whose gallery has never had a physical space outside New York City, said that her family had long-term ties to Palm Beach. “We happen to know a lot more people in Palm Beach,” she said.

Despite recording more new daily coronavirus infections recently than New York, Florida’s restrictions on businesses are looser. All three institutions said they would be taking extra sanitary precautions, requiring masks, limiting attendance and enforcing social distancing in their new spaces.

So far, following the seasonal patterns of wealthy collectors has proved to be a success for big galleries and auction houses. Mr. Schrader said the East Hampton space enabled Sotheby’s to engage more casually with clients. “They would come in in golf outfits and bathing suits and flip-flops, so it was much less formal, and there was more dialogue about art objects,” he said.

Mr. Sheffer said he noticed something similar at Pace’s East Hampton space — a move away from the special-events-based calendar that has brought collectors into the galleries over the last few years.

“And let me tell you,” Mr. Sheffer said, “it’s been good for sales.”

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Hedge fund manager Alexander Klabin to invest in auction house Sotheby’s

(Reuters) – Hedge fund manager Alexander Klabin will invest in international art auction house Sotheby’s and become the executive chairman of its art financing business, the company said on Wednesday.



A logo is pictured on Sotheby's before the resuming of live jewellery auctions in Geneva


© Reuters/DENIS BALIBOUSE
A logo is pictured on Sotheby’s before the resuming of live jewellery auctions in Geneva

The company did not disclose terms of the Klabin’s investment but said he will lead a management team to help Sotheby’s modernize its underwriting process and improve its access to capital markets.

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Klabin is the founder of hedge fund Senator Investment Group, which he left in February. He will launch his newly-formed company named Ancient in early 2021.

Sotheby’s Financial Services offers financing against art collections of all types, including those of the late Duchess of Windsor, the personal collection of artist Andy Warhol and Edvard Munch’s painting “The Scream”.

The 275-year-old auction house was the oldest company listed on the New York Stock Exchange before it was taken private https://reut.rs/301OBWc in 2019 by Franco-Israeli cable magnate Patrick Drahi in a $3.7-billion deal.

(Reporting by Madhvi Pokhriyal in Bengaluru and Krystal Hu in New York; Editing by Arun Koyyur)

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Stalled auction of 89-year-old’s house over 6-cent tax bill spurs new proposed rule

A law that allowed an 89-year-old woman’s house to be put up for auction because she owed 6 cents in back taxes would be amended under a bill that her state senator plans to introduce in the coming weeks.

The story of the octogenarian Ocean Township homeowner, Glen Kristi Goldenthal, drew international attention this week after her daughter in Virginia bitterly denounced township officials in a video she posted September 9 on Twitter.

“Today, I spent the entire day saving her home from a tax sale that was happening today that she didn’t want to tell me about because she has Alzheimer’s,” Goldenthal’s daughter, Lisa Suhay, said in the video, posted above.

“So, half the time she didn’t even remember it was happening, and the other half the time she was too terrified to tell me, and too ashamed, and too afraid and too worried,” Suhay said. “A tax sale for an 89-year-old woman’s home in the middle of a pandemic. And do you want to know how much my mother owed? Six cents. Six pennies. And for that, they put her house up for sale today.”

Goldenthal’s house didn’t get auctioned off. After the video was posted, Mayor Christopher Siciliano intervened to take the home off auction block. And since then, Siciliano said Suhay had paid what was owed on the property, which actually totaled more than $300, including fees.

Siciliano also reached out to State Sen. Vin Gopal, D-Monmouth, asking the lawmaker to introduce legislation to prevent such a minuscule debt from threatening the loss of a home in the future.

Reached on Thursday, Gopal said he would do just that, with a bill that would set a minimum dollar amount owed, probably $100 or less, before a property was subject to auction.

As it stands now, state law governing tax sales, NJSA 54:5-20.1 calls for an auction when a lien exceeds $100, but leaves it up to the discretion of the local tax collector to decide whether and when to put a property up for a tax auction when the amount owed is less than that.

“This would remove the discretion,” said Gopal, who added that there was an increased likelihood that property owners of any age might fall behind on their taxes amid the coronavirus-related economic downturn.

“I think it’s a little ridiculous and unfortunate, and we need to do everything we can to make sure that those who are most vulnerable shouldn’t be shut out, especially during these tough times,” Gopal said.

In defense of Ocean’s tax officials, Siciliano said the six cents owed on the property was part of a years-long pattern of delinquency related to Goldenthal’s Redmond Avenue property that persists to this day. He said her address was among those on a computer-generated list of properties subject to auctioning due to non-payment of liens, without details of the property owners’ ages or other circumstances.

The six cents owed from 2019, he said, was actually the amount that a purchaser of a

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An Auction House With Good Bones: Stan the T Rex Is for Sale | New York News

NEW YORK (AP) — He weighed at least 7 tons and had eyes the size of baseballs. His bite could have crushed a car. He bore scars from fierce prehistoric battles.

All this could be yours for as much as $8 million.

The legend of the Tyrannosaurus rex nicknamed Stan is getting fresh life thanks to Christie’s. The auction house put his bones on display starting Wednesday through floor-to-ceiling windows at its midtown Manhattan gallery in advance of putting them up for auction.

“He is 37 feet long and one of the fiercest killing machines that has ever roamed the earth,” said James Hyslop, head of the auction house’s science and natural history department.

About 67 million years after Stan did all that roaming and killing, his remains were discovered in 1987 by paleontologist Stan Sacrison in a geological area in the Midwest known as the Cretaceous Badlands.

The fossils became known for forming one of the most intact dinosaur skeletons ever discovered. Researchers also marveled at how the skull had large puncture wounds, speculating that they were the result of T. rex warfare.

The skeleton — being put up for sale by the Black Hills Institute in South Dakota — will remain on display through Oct. 21 at Christie’s flagship location at Rockefeller Center. The auction is set for Oct. 6.

Hyslop assured potential buyers that Stan “is being offered with no reserve. So absolutely everyone has a shot at him.”

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Bones to pick, for $8M: Stan the T rex goes up for auction

NEW YORK (AP) — He weighed at least 7 tons and had eyes the size of baseballs. His bite could have crushed a car. He bore scars from fierce prehistoric battles.

All this could be yours for as much as $8 million.

The legend of the Tyrannosaurus rex nicknamed Stan is getting fresh life thanks to Christie’s. The auction house put his bones on display starting Wednesday through floor-to-ceiling windows at its midtown Manhattan gallery in advance of putting them up for auction.

“He is 37 feet long and one of the fiercest killing machines that has ever roamed the earth,” said James Hyslop, head of the auction house’s science and natural history department.

About 67 million years after Stan did all that roaming and killing, his remains were discovered in 1987 by paleontologist Stan Sacrison in a geological area in the Midwest known as the Cretaceous Badlands.

The fossils became known for forming one of the most intact dinosaur skeletons ever discovered. Researchers also marveled at how the skull had large puncture wounds, speculating that they were the result of T. rex warfare.

The skeleton — being put up for sale by the Black Hills Institute in South Dakota — will remain on display through Oct. 21 at Christie’s flagship location at Rockefeller Center. The auction is set for Oct. 6.

Hyslop assured potential buyers that Stan “is being offered with no reserve. So absolutely everyone has a shot at him.”

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