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Home > News, Articles & Multimedia > Worth Points > Weekly News Roundup: March 14 to March 18

Weekly News Roundup: March 14 to March 18

by WorthPoint Staff (03/15/11).

In art, antiques and collectibles headlines, we see China taking over second place in the world art market, Stephen Colbert’s enhanced portrait and Eric Clapton amps.

From ARTINFO:
China Overtakes Britain to Become the World’s Second Biggest Art Market

In case you haven’t noticed, there have been big art auctions in China to the tune of $8.3 billion. This gives the country a 23-percent share of the world art market, lagging considerably behind the U.S.’s 35 percent. However, China has nudged out Britain, which accounts for 22 percent. British sales were at 27 percent in 2006. Some experts feel that a European Union tax has contributed to the drop.

From The Los Angeles Times:
Stephen Colbert portrait sells for $26,000 at auction

UPDATE: The naughty boy of faux TV political punditry scored big. His portrait, the one he tried to sell to Steve Martin (Martin thought it was worth less than $20), went for $26,000 at a Phillips de Pury sale. It probably helped that artists Shepard Fairey and Andres Serrano added some touches and that Colbert, his very own self, conducted the sale. The proceeds are going to Donorschoose.org, which directly links donors to public schools requesting help with everything from pencils to pianos. At the auction, Colbert prodded bidders by saying, “We’re doing this for children . . . If you’re not raising your paddle, it means you hate children.”

From WNYC:
Clapton’s Guitars and Amps Sell at Auction for High Price Tags

UPDATE: Talk about provenance. Danny Ferrington, who built a three-quarter size acoustic guitar in 1979 for rock legend Eric Clapton, said, “Eric loved this guitar. He said he liked the look of carrying it around and getting off and on an airplane with it.” That honor will now fall to a successful bidder who is paying $42,700 for it, 100 times more than the presale estimate. Also on the block were some vintage amplifiers that sold well.

From The Washington Post:
An attic sale fit for a king or queen; auction of late Dutch queen’s belongings draws crowds

If you have seven royal palaces, you’ve got to figure your attic sale will have tons of stuff. So it is with the late Dutch Queen Juliana’s. More than seventeen hundred lots are the block this week, ranging from satinwood chairs and chandeliers to a 16th-century Guild emblem.

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