The Latest In Decadence: A Rockefeller Rothko

“Everyone knew that David Rockefeller’s Rothko would fetch a very high price. Sotheby’s, our eBay for billionaires, had guaranteed a figure of $46 million to keep the painting away from its archrival auction house, Christie’s. … The gaudy winning bid of $72.8 million, the highest ever paid for a work of contemporary art at auction, confirmed Sotheby’s confidence that a Rockefeller Rothko is now the ultimate luxury object.”

Invasion Of The Art Consultants: Scary Or Not?

“While there are some major European exceptions … (art) consulting and advising remains a ­distinctly American phenomenon. ‘Americans take great pride in seeing psychoanalysts, and they likewise have no problem having someone else find their art for them,’ explains Manhattan ­gallerist Sean Kelly, an Englishman based in New York.” But are art consultants necessarily a bad thing?

Author’s Price For Privilege: A Deal With Communists

“For elderly men of a literary bent in central Europe, the past is not another country. Zygmunt Bauman, the Leeds-based social philosopher, it now transpires, was a teenage secret policeman as a young communist in his native post-war Poland. And a few months after he died, triggering innumerable paeans to his talents and insights, Ryszard Kapuscinski, it turns out, also struck a Faustian bargain with the commies…. The real moral question is, how did he deliver on the Faustian pact?”

Rembrandt Etching Stolen, Frumpy Couple Suspected

“Just before 3 p.m. Sunday, (an) average-looking couple walked into the Hilligoss Galleries on the Magnificent Mile. Employees believe they walked out less than five minutes later with a $60,000 Rembrandt etching. …The etching, a 370-year-old piece called ‘Adam and Eve,’ was hanging in a preview room just off the main receptionist’s desk on the first floor of the gallery….”

Nonprofit Arts Are Growing Again, Study Says

“The nonprofit segment of the arts industry is robust economically and attracting more people to its workforce, according to a new national survey. The nonprofit arts sector generates $166 billion in total U.S. economic activity, says a study being released today. ‘Arts & Economic Prosperity III’ was conducted by Americans for the Arts with data analysis provided by economists from Georgia Tech. ‘This shows the arts have bounced back from the slide after 9/11,’ said Randy Cohen, vice president of policy and research at Americans for the Arts.”

Tate Modern Gets £5 Million Donation

“Tate Modern in London announced its largest individual donation, with a commitment of 5 million pounds ($9.55 million), from John Studzinski, of Blackstone Group LLP. The money will go toward the expansion of the Tate Modern with a new building on the south side. The London Development Agency has already committed 7 million pounds to fast track the building, so that it is ready for London’s hosting of the Summer Olympic Games in 2012.”