Sunday, April 22, 2012

Cultural Security News (Apr. 15 - Apr. 21)

Art of Financial and Economic Strategies
The presence of Chinese collectors continues to increase in Hong Kong and spread to London and Paris, as reported by The Guardian. Their collecting interests, according to the Taipei Times, range from connoisseurship to purely financial considerations of art as a "safe haven" for investments. Correspondingly, the global interest in art and antique insurance grows with AXA Art estimating a $5.4 billion market in annual premiums. At the same time, the role of art in development strategies in the Middle East experienced acceleration and revision. For example, the Royal Family of Qatar is expected bid on the last privately held version of Edvard Munch's "The Scream" in early May, but reportedly financial concerns have delayed the construction of the Guggenheim in Abu Dhabi.
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