Art industry news: Majority of NFT collectors are, shockingly, mostly for the money, new survey finds + More stories


Art Industry News is a daily summary of the most important developments in the art world and the art market. Here’s what you need to know this Wednesday, April 27.


Is Steve Grossman the 50 million dollar man from the Bruce Museum? – ART news named collector Steven M. Grossman as the mysterious donor who donated 70 works to the Bruce Museum in Greenwich, Connecticut. Clues that Grossman was behind the $50 million hoard include the fact that some of the works had previously been loaned to Grossman’s alma mater, the University of Vermont, by an unnamed alumnus, and that his foundation was among the four largest donors to the Bruce Museum. Extension campaign 2020. (ART news)

Judge awards trial to man who defaced LGBTQ pride mural – A judge handed down an unorthodox sentence to Alexander Jerich, who damaged a rainbow mural outside the Pulse nightclub in Orlando shortly after it was unveiled last year. Jerich was ordered to write a 25-page essay about the 2016 shooting at the gay club, which left 49 people dead. (New York Times)

The majority of NFT collectors are just in it for the money – A new survey has found that 82% of NFT buyers are driven by investment returns rather than digital art appreciation. ArtTactic’s survey of 595 art buyers worldwide found that 95% of buyers who purchased NFTs worth $25,000 or more cited returns as the primary reason for their purchase. The result: NFTs are “still a very speculative market,” observed Robert Read of the Hiscox Group. (Barrons)

Son of painter accused in Capitol Riot – Vincent Gillespie, the son of post-war American artist Gregory Gillespie, has been charged with seven counts related to his participation in the January 6 insurrection at the United States Capitol. Federal investigators say he fought with law enforcement trying to keep rioters out of the building; Gillespie denies the charges. For years he was in the middle of a legal battle with his stepmother over the paintings his late father left behind. (PA)


Bosco Sodi opens an art space in the Catskills – Artist Bosco Sodi opens a 23,000 square foot international contemporary art museum in a former Buick dealership in the Catskill Mountains on May 21. Residents hope the space, called Assembly and located on the city’s main street, will help revitalize a tired neighborhood. . (New York Times)

FBI repatriates artifacts to Peru – The FBI has returned 16 stolen Peruvian artifacts, works of art and historical documents to the Peruvian government. The loot includes three stone ax heads confiscated from disgraced amateur archaeologist Donald Miller after a 2014 raid of his collection of 40,000 pieces of Indigenous and South American artifacts. (The arts journal)

The winners of the Prix de Rome are announced – The six visual arts laureates of the 2022-2023 Rome Prize, which supports American artists working in Rome, are: Tony Cokes, Todd Gray, Ester Partegàs, Elle Pérez, Ioana M. Uricaru and Bradford M. Young. Alice Visentin won the Italian Scholar Award at the Fondazione Sviluppo e Crescita CRT. (ART news)

Courtauld manager retires after 18 years – Deborah Swallow is stepping down as director of the Courtauld Institute of Art in London. Swallow was recognized for her efforts to globalize the orientation of the historically Eurocentric institution and expand its donor base and network of scholars. She will remain in post while an international search for her replacement is conducted. (TANNING)


See Julian-Jakob Kneer’s haunting new show in Zurich – Blue Velvet Projects is exhibiting works by Berlin-based Swiss artist Julian-Jakob Kneer until May 28. The exhibit, titled “Shooting Star,” includes new works centered on a dark look-alike and explores “the monstrous part of celebrity culture, neurotic narcissism, and self-definition and self-destruction. (Press release)

Follow Artnet News on Facebook:

Want to stay one step ahead of the art world? Subscribe to our newsletter to receive breaking news, revealing interviews and incisive reviews that move the conversation forward.


Comments are closed.