The increasing potential for repatriation of cultural patrimony and the influence of celebrity provenance on the market value of artworks illustrate the political economy of art and culture. Turkey made headlines, once again, on assertive repatriation, which reflects a growing international sentiment for the return of cultural patrimony independent of the circumstances under which objects left a nation.
On market value, an Australian blog suggested a trend in the relation between celebrity ownership and dramatic increases in the market value of artworks. In economics, as the domestic art market of China continues to spur production, Chinese auction houses, such as Guardian, begin an expansion with sales in Hong Kong to compete with major international auction houses such as Sotheby's and Christie's. At the same time, art dealers from United States made news with a presence in London ahead of the Frieze Art Fair, which boasts an offering of $1.5 billion in artworks.
An insightful editorial in Pakistan keenly tied the politics and economics of cultural property together by reviewing looting and destruction of Buddhist relics and inferring the ramifications for cultural security of the region. In a nuance of cultural security, an article on the seizure of smuggled Islamic artifacts in Egypt indicated demand from Gulf states and other Muslim nations for such cultural artifacts.
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