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NEWSLETTER NO. 1 MARCH 2025
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Welcome to the inaugural quarterly newsletter from art appraisal firm Czudej McDonough. Each quarter, we aim to share news updates, interviews, articles of note and research that we find salient and interesting in the world of art valuation services. If you enjoy this first edition please, subscribe to our mailing list . If you no longer wish to receive, please unsubscribe. |
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OF INTEREST
The 2025 race for single owner collections kicks off: Christie's wins the $200 million Len Riggio collection for May sales, featuring blue-chip Mondrian, Magritte and Picasso masterworks—a rare bright spot in today's exceptionally quiet market. LINK Sotheby's New York will auction the Jordan and Thomas A. Saunders III collection: of around 60 Old Master paintings in May, with a record-setting estimate of $80–120 million. LINK Christie's AI art auction: "Augmented Intelligence" realizes total sales of $728,784, attracting new collectors with 37% of registered bidders new to Christie's and 48% being Millennials or Gen Z. LINK New EU import rules: New EU regulations regarding the importation of cultural goods created or discovered outside the EU set to be operational no later than June 28, 2025. LINK New York and London rule differently: Safra litigation in the UK and New York highlight key jurisdictional differences in art market disputes. LINK When comparable sales are scarce: Some insights from the real estate world about the reduction in sales activity that is forcing appraisers to dig into older listings. LINK Overvaluations causing issues in luxury home market: London's Holme mansion finally sells for £139 million after being listed at £250 million. LINK Donations in the UK: A very good breakdown of the UK's Acceptance in Lieu scheme. LINK The Frick: After five years and a $220 million renovation, the Frick Collection reopens in April. LINK |
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THE COLLECTION
Victor and Sally Ganz were enterprising collectors who paired their art historical savvy with a willingness to take calculated risks. READ MORE |
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BOOKS
The Fricks Collect: An American Family and the Evolution of Taste in the Gilded Age. By Ian Wardropper, foreword by Julian Fellowes. Publisher: Rizzoli Electa, 4 March 2025. LINK Those Passions: On Art and Politics. T.J. Clark. Publisher: Thames & Hudson, 25 March 2025. LINK A Handbook of Latinx Art. Edited by Rocío Aranda-Alvarado and Deborah Cullen-Morales. Publisher: University of California Press, February 2025. LINK Appraising Art: The Definitive Guide With contributions from Czudej McDonough partners, Tobias Czudej and Susan McDonough. Publisher: The Appraiser's Association of America. September 13, 2024. LINK |
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ARTWORTHY
Miyoki Ito (1918–1983) What did it sell for? Visit on Instagram to play our weekly guess the value game. @czudejmcdonough |
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OUR NEWS
Thomas Hart Benton Case. Judge rules for UMB Bank in Thomas Hart Benton case. Susan provided an 82-page Appraisal Review for this case. LINK Appraiser's Association Annual Award Luncheon. Join us at the Appraiser's Association Annual Award Luncheon, honoring Jack Shainman. Czudej McDonough partner, Tobias Czudej, joined the committee this year and we are proud to sponsor this event. LINK 2025 Brochure of Services. Our updated and redesigned brochure of appraisal and valuation services has been published. LINK |
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The content of this email newsletter is provided for informational purposes only and should not be construed as professional advice, recommendations, or guarantees of any kind. While we strive to ensure accuracy and reliability, Czudej McDonough LLC and its partners make no representations or warranties, express or implied, regarding the completeness, correctness, or applicability of the information contained herein.
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