Fintech PR
Artprice: Big Is Beautiful! Expected Record at New York Auction for Louise Bourgeois
Reading Time: 3 minutes
One of Louise Bourgeois’s six Spider sculptures, measuring more than 7 meters across and 3 meters tall, will be offered for sale at Christie’s on 15 May 2019 in New York. Numbered 3/6 in the series, the work already fetched $28.2 million in 2015 and Louise Bourgeois’s prices have stayed steady since then.
It could become the most expensive artwork by a female artist ever sold at auction.
“Like it or not, when it comes to art, size is very important. Giant works fascinate us because they transcend our own scale. Who isn’t impressed by huge paintings like Pablo Picasso’s Guernica (at the Reina Sofía Museum in Madrid) or Veronese’s Les Noces de Cana (at the Louvre Museum in Paris)?” says thierry Ehrmann, Artprice’s Founder/CEO.
In general, an artist’s largest works attract the strongest demand. For equivalent quality, the larger works will almost always be worth more than the smaller works.
This week, Artprice picks out a selection of 10 monumental works auctioned in 2018 in each of the major artistic mediums.
PAINTINGS
Zao Wou-Ki – Juin-Octobre 1985
10 x 2.8 meters
On 30 September 2018, Zao Wou-Ki’s Juin-Octobre 1985 triptych – his largest work still in circulation – caused a major sensation when it was re-offered for sale at Sotheby’s. In May 2005, Christie’s sold the same work in Hong Kong for $2.3 million. Thirteen and a half years later, its value exceeded $65 million, i.e. no less than 28 times its previous value.
Mark Bradford – Helter Skelter I (2007)
10 x 3.65 meters
American painter Mark Bradford had a particularly good year in 2018. In 2017, he represented the United States at the Venice Biennale. But it wasn’t until the first half of the following year that his prices began to inflate rapidly, generating three new auction records.
On 8 March 2018, his Helter Skelter I (2007) came close to $12 million at Phillips in London. This huge piece was a key element in the exhibition Collage: The Unmonumental Picture organized by the New York Museum in New York in 2008.
Osgemeos – It is Supposed to be Raining But… (2008)
2.5 x 2.5 metres
This large format canvas allowed the Brazilian duo of graphic artists to express their art in superb style. Accustomed to large facades, the two street artists have produced a large number of reasonably dimensioned paintings for the market. However, their very large canvases capture all the power of their street art. On 26 June 2018, the painting fetched $132,000 at Phillips in London.
DRAWINGS
Takashi Murakami – Dragon in Clouds-Red Mutation (2010)
18 x 3.6 meters
Takashi Murakami’s imaginary world stands at the crossroads of manga culture and Sino-Japanese mythology. In April 2018, the auction house Council sold one of his three large-scale interpretations of Asia’s most popular mythical creature, the dragon. His colossal drawing – red ink on paper – titled Dragon in Clouds-Red Mutation seduced Chinese collectors in Shanghai, fetching more than $8.8 million.
Giuseppe Bezzuloli – Folly driving the cart of Love
481 x 344 cm
Commissioned in 1848 to paint the ceiling of the Palazzo Gerini in Florence, Giuseppe Bezzuloli executed this study on the theme of Love and Madness. The final fresco still adorns the ceiling of the famous Tuscan Palace.
Estimated between $50,000 and $80,000, the drawing was purchased for $275,000 at Christie’s in New York on 30 January 2018. Nowadays, very large-scale historical works are extremely rare on the market and this post-Renaissance drawing – which still retains all its power – was a superb acquisition.
SCULPTURE
KAWS – Clean Slate (2014)
5.5 x 5.5 x 7.5 meters
Kaws is currently an in vogue artist par excellence… from New York… to Hong Kong. The American street artist has conquered the international art market with his colorful paintings, his large-scale figurines and his monumental sculptures. Clean Slate (2014) was shown all around the world (Shanghai, Ibiza, Hong Kong and Fort Worth) before being put on sale by Phillips in New York, where it was acquired for nearly $2 million.
Philippe de Buyster (Attrib.) – Vierge de pitié (c.1650-60)
1.6 x 0.5 x 1.3 meters
This 17th century Pietà was one of the very few large-scale Old Master works sold last year. In perfect condition, the terracotta sculpture came from the Chapel of Château d’Autricourt in Burgundy (France). Christie’s sold the piece for $58,000 (including costs) in Paris on 19 June 2018.
Joana Vasconcelos – Betty Boop (2010)
4.1 x 1.5 x 3 meters
This huge high-heeled shoe made of stainless steel pots and concrete is a perfect example of Joana Vasconcelos’s taste for oversize. The Franco-Portuguese artist has never been afraid to invest large places like the Bon Marché department store in Paris or the Palace of Versailles where Betty Boop (2010) was presented in the Hall of Mirrors in 2012.
PHOTOGRAPHY
Gilbert & George – Thirty-Five Locations (2003)
422 x 361 cm
The British duo Gilbert & George is not doing as well on the secondary market as in 2008, but their unique large-format photos continue to fetch very good prices. Consisting of 24 rectangular sections, Thirty-Five Locations resembles a huge stained glass window in black, white and red. It was the largest photographic work sold during 2018 and fetched $150,000 at Sotheby’s in New York (17 May).
MIXED MEDIA
Tracey Emin – Dark Dark Dark (2007)
3.6 x 1.6 x 1.5 metres
In 2007 Artwise commissioned Tracey Emin to customise four Fiat 500s (each unique) for a charity sale. On 5 December 2018 at Phillips’ New Now sale, one of them fetched $8,000. In the catalogue Phillips warned Please note this lot is offered as an art work, and not a motor vehicle…
The use of motor vehicles as an artistic medium may seem bizarre, but several major artists have lent themselves to the exercise in the past. The BMW Art Car project, for example, allowed Andy Warhol, David Hockney and Jeff Koons to completely transform the exteriors of cars.
Copyright ©2019 thierry Ehrmann – www.artprice.com
Try our services (free demo): https://www.artprice.com/artist/23640/baishi-qi
Subscribe to our services: https://www.artprice.com/subscription
SOURCE Artprice.com
A strategic partnership between two of the largest Qatari companies to add value to the local and regional market, enhancing food security and innovation in several key sectors.
DOHA, Qatar, Nov. 16, 2024 /PRNewswire/ — Senyar Trading & Distribution Company and Al Baladi Holding have announced the launch of their strategic partnership under the name of ‘Al Faisal Al Baladi Holding’. The launch ceremony was attended by Sheikh Faisal bin Qassim Al Thani, Chairman of Al Faisal Holding, and Mr. Mohammed Abdullah Al Attiyah, Chairman of Al Baladi Holding. This partnership aims to provide added value to the Qatari and regional markets, and to enhance the role of Qatari companies in supporting and developing the local economy in line with Qatar National Vision 2030.
Within this partnership, a strong economic icon was established under the name ‘Al Faisal Al Baladi Holding Group’, capable of implementing huge projects across the MENA region in a number of different vital sectors, especially livestock and agricultural production projects, which contributes to supporting food security and enhancing livestock in a sustainable manner. In addition, the retail sector constitutes a significant part of the Company’s activities.
Al Faisal Al Baladi Holding Group Holding includes Al Faisal Al Baladi Holding LLC, based in Qatar, Al Faisal Al Baladi Group for Malls Management and Operations, based in Egypt, and Al Faisal Al Baladi Holding, based in the Sultanate of Oman. As well as livestock and agricultural production, these companies will operate in several diverse sectors including distribution and wholesale, manufacturing, hospitality and hotels, restaurants, food and beverages, with the retail sector also constituting a significant area of focus. Through these activities, they will seek to meet the growing demand for innovative products and solutions, while supporting sustainable economic development in Qatar and the region.
Commenting on this announcement, Sheikh Faisal Bin Qassim Al Thani, Chairman of Al Faisal Holding, stated: “I am pleased to witness the formation of this strategic partnership that represents the development of the private sector in Qatar and enhances its ability to compete through cooperations built on solid foundations. This partnership is a realization of Qatar Vision 2030 of empowering the private sector and enhancing its contribution to the local economy. I wish both parties success in this promising partnership.”
Mr Mohammed Abdullah Al Attiyah, Chairman of Al Baladi Holding and Chairman of Al Faisal Al Baladi, said: “We are delighted with this cooperation which opens new horizons for growth and expansion. Al Baladi Holding has achieved remarkable successes in recent years, and this partnership comes to underpin our position in the market and expand the scope of our activities. We hope that Al Faisal Al Baladi Holding will contribute to the development of successful and innovative projects that will be a source of pride for everyone.”
Sheikh Mohammed bin Faisal Al Thani, Vice Chairman of Al Faisal Al Baladi Holding, added: “We share common goals, integrated resources, and expertise with Al Baladi Holding. Through this partnership, we will achieve integration and synergy in diverse businesses to maximize value for all parties, including consumers and investors, which will benefit all stakeholders and contribute to achieving a positive impact across every level.”
Mr. Abdullah Mohammed Al Attiyah, Vice Chairman of Al Baladi Holding, said: “Undoubtedly, the stability of the Qatari economy, the diversity of investment opportunities, and the positive business environment, have all contributed to Al Baladi Holding’s market leading position. We look forward to this partnership with confidence in its promise to help build a bright future”
Mr. Tarek Mahmoud Al Sayed, Board Member of Al Faisal Al Baladi Holding, added: “Food security projects hold special importance, especially in their comprehensive and sustainable concept, which constitute an essential part of our future strategy. We seek to play a pivotal role in the region through livestock and agricultural production projects, as we currently own a number of livestock and agricultural production companies in Qatar and Oman, and we plan to expand and launch new projects in a number of countries in the region and North Africa. This will support Al Faisal Al Baladi in becoming a leading company in achieving food security at the regional level.”
Mr Hany Al Sayyadi, CEO and Board Member of Al Faisal Al Baladi Holding, concluded by saying: “This partnership strengthens our diversified investment portfolio and facilitates the expansions of our presence in regional and global markets. Our vision is to achieve a strong presence in the Middle East region, by focusing on innovation and quality in all our sectors. This partnership is a natural extension of the vision of both companies to enhance economic integration and contribute to driving development in Qatar and the region.”
Al Faisal Al Baladi plans to expand its business activities in regional and global markets, by utilizing the diverse investment opportunities represented by the manufacturing, hospitality and retail sectors. The Group’s current portfolio includes more than 30 leading companies in their fields, including Al Baladi and Al Baladi Express Markets, Al Wajba Dairy and Juice Factory, City Limousine Company, in addition to a number of restaurants and companies in the food sector, and many others.
Photo: https://mma.prnewswire.com/media/2558072/Al_Baladi_Holding_Group.jpg
Photo: https://mma.prnewswire.com/media/2558073/Al_Baladi_Holding_Group_1.jpg
View original content:https://www.prnewswire.co.uk/news-releases/launch-of-al-faisal-al-baladi-holding-302305819.html
Fintech PR
Sustainable Infrastructure Holding Company (“SISCO”) Q3FY24 revenue (excluding accounting construction revenue) increases by 23.8% to 341.8 million
- Revenue grew by 23.8% compared to previous year
- Gross profit of SAR 179.8 million, a 21.7% increase compared to Q3FY23
- Adjusted EBITDA rose 29.5% to SAR 210.2 million
JEDDAH, Saudi Arabia, Nov. 16, 2024 /PRNewswire/ — Sustainable Infrastructure Holding Company (“SISCO”, “TADAWUL: 2190”), Saudi Arabia’s leading strategic investor in Ports & Logistics and Water Solutions has announced its financial results for the quarter ended 30 September 2024.
Revenues for the third quarter of 2024, excluding accounting construction revenue, grew by 23.8% compared to Q3FY23 to reach SAR 341.8 million. On a quarter-to-quarter basis, revenues grew by 13.0% compared to Q2FY24.
The third-quarter gross profit of SAR 179.8 million represents 14.7% quarter-on-quarter growth and 21.7% growth compared to Q3FY23. The gross profit margin for Q3FY24 was down 0.9% year-on-year, due to increased depreciation and direct costs, but was up 0.8% quarter-on-quarter, in line with expectations. Year-to-date saw gross profits increase by 13.8% to SAR 469.5 million.
Adjusted EBITDA growth rose 29.5% to SAR 210.2 million compared to Q3FY23, aligning SISCO with strategic goals. Quarter-on-quarter growth was 20.8%, with a year-to-date increase of 17.7% to SAR 543.8 million.
SISCO reports a strong recovery in the Red Sea Gateway Terminal from subdued Q3FY23 Port segment results due to the Red Sea situation. Port volume reached 828,868 TEUs in Q3FY24, returning to levels similar to Q4FY23.
Commenting on the results: Eng. Khalid Suleimani, Group CEO, SISCO said:
“I am pleased to report that SISCO has continued to demonstrate strong growth and operational performance in Q3FY24, with revenues improving by 23.8% compared to Q3FY23. Our Ports segment, which remains a key growth driver, saw a significant increase, leading to robust results despite the Red Sea challenges.
Net income remains strong, despite the one-off payment of SAR 25 million to Zakat. Another highlight of the quarter is the impressive recovery in the Red Sea Gateway Terminal, highlighting it’s resilience.
We are also excited to announce the Multi-Purpose Terminals (MPT) concession, which will allow us to expand operations across all non-containerised port facilities in the Red Sea Gateway Terminal. This strategic initiative positions SISCO to capture further growth opportunities domestically and internationally.
Looking ahead, we remain committed to executing our five-year strategy to double revenues by 2026 and continue delivering long-term value to our shareholders.”
View original content:https://www.prnewswire.co.uk/news-releases/sustainable-infrastructure-holding-company-sisco-q3fy24-revenue-excluding-accounting-construction-revenue-increases-by-23-8-to-341-8-million-302307352.html
DUBAI, UAE, Nov. 15, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, opens up the November arena for the Bybit Crypto Titans trading competition. Available for users in select regions, a prize pool of 55,000 USDT will be available for a limited time only.
From now to Nov. 30, eligible traders can level up their trading strategies and amplify their winning chances by inviting friends to share two prize pools in two simple steps: register for the event at the Grand Arena, and invite friends and trade.
Battlefields: Once in the Arena, users can pick their battlefields. Up to 30,000 USDT are up for grabs in the Team Battlefield ranked by total trading volume, while another 15,000 USDT is reserved for traders in the Solo Battlefield competing by PnL(%).
More perks: Additionally, top traders and leaders will receive extra perks. Participants will receive a bonus 5 USDT for every new qualified referee, and the first 50 Team Leaders whose team exceeds a threshold amount in trading volume will be entitled to a 100 USDT bonus.
“As trading volumes overall are climbing, we are seeing so many talented traders in our community with a knack for navigating fast-moving markets. This event gives some of them an incentive to share their passion with their friends, and there is room for rewards for the solo trading pros to shine as well,” said Joan Han, Sales and Marketing Director of Bybit.
Market sentiment and activities have been trending up in recent weeks globally, and the enthusiasm is shared among users in niche markets. While traders rush to capture opportunities in a heated market, the Crypto Titans competition encourages users to bring out the best trading game and hone their trading skills for healthier returns.
Find out more about Bybit’s Crypto Titans: November Showdown, terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
Photo – https://mma.prnewswire.com/media/2559070/Image.jpg
Logo – https://mma.prnewswire.com/media/2267288/5029737/Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/bybit-crypto-titans-november-arena-boasts-55-000-usdt-in-rewards-302307028.html
-
Fintech5 days agoFintech Pulse: Industry Innovations and Partnerships Drive Global Fintech Forward
-
Fintech4 days agoFintech Pulse: Evolving Fintech Investments and Partnerships Signal Industry Transformation
-
Fintech PR7 days agoStatement From Universal Music Group N.V.
-
Fintech PR2 days agoUniversal Consulting Opportunities (UCO), a Stellar MLS Subsidiary, Signs Agreement with NAR India As Advisor to Develop a National MLS
-
Fintech PR3 days agoCayman Enterprise City Receives Two Prestigious Awards from the Financial Times’ fDi Intelligence Global Free Zones of the Year 2024
-
Fintech PR2 days agoNoble Corporation plc announces submission of request for removal from trading and official listing on Nasdaq Copenhagen
-
Fintech PR2 days agoDC to VC – NatWest Cushon and Future Planet Capital Lead the Charge in UK Pension Access to British Innovation
-
Fintech PR2 days agoBlockchain for Good Alliance Hosts Web3 Oscar, Celebrating Innovators Advancing UN’s Sustainable Development Goals