Art Industry News: The Latest Art Project From RM, Star Of K-Pop’s Hottest Band? The rescue of a historic silk wedding dress + other stories

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Art Industry News is a daily round-up of the most momentous developments in the art world and art market. Here’s what you need to know this Friday, September 16th.

MUST READ

Poland asks for return of paintings captured from Red Army – Poland’s Culture Minister Piotr Gliński announced that the country would formally ask Russia to return the seven paintings stolen by the Red Army during World War II, after Moscow ignored previous 20 requests for the return of thousands of other stolen items. The seven paintings are works by Italian artists from the 14th to 18th centuries and are currently in the Pushkin State Museum of Fine Arts. (Guardian)

Ethereum Switches to Energy Efficient Model – The platform that powers the cryptocurrency Ether (ETH) has made its biggest change since its inception, updating it through a process called “The Merge” that allows the platform to reduce energy consumption by a whopping 99.95 percent. By moving from a proof-of-work model to a proof-of-stake model, miners no longer need to consume energy to add it to the blockchain. (design boom)

RM donates to LACMA – The star of K-pop sensation BTS has donated £100m ($71,530) to the Overseas Korean Cultural Heritage Foundation to help restore a royal home hwarot Robe (a wedding dress) from the Joseon Dynasty (1392–1910) currently housed in the Lost Angeles County Museum of Art. The Korean arts patron will donate a further £100m to the foundation to help produce a catalog of important Korean paintings scattered in museums abroad. (The art newspaper)

British museums to close for Queen’s funeral Almost all British museums will close on Monday 19th September for the State Funeral of Queen Elizabeth II. But at least part of some museums remain open outside of opening hours: the Tate Modern and Southbank Center are currently keeping toilet facilities open 24 hours a day to allow access for those waiting in line to use the Queen’s coffin at Westminster Hall to see. (TAN)

movers & shakers

Gideon Appah Joins Pace Gallery – The Ghanaian painter of “dreamlike and enigmatic” compositions is the latest addition to Pace’s roster ahead of a debut showing at Frieze London in October. His first solo exhibition at Pace in London will take place in Spring 2023; he is still represented by Gallery 1957 and Mitchell-Innes & Nash. (press release)

Eike Schmidt reappointed to government office – The Director of the Uffizi Gallery was confirmed in his other capacity as President of the Fund for Religious Buildings for a four-year term. The fund includes around 840 churches, archaeological and museum sites throughout Italy. (In Tuscany)

Lower Manhattan Cultural Council appoints President – Craig T. Peterson has been named the new president of the Lower Manhattan Cultural Council after a six-month nationwide search. Previously, Peterson was vice president of visual and performing arts at the Henry Street Settlement and director of the Abrons Art Center. He will take up his new role on October 17. (press release)

Rago/Wright merges with Chicago Auction House – Rago/Wright has acquired Chicago-based auction house Toomey & Co to give buyers more options alongside the “high-end duopoly” of Christie’s and Sotheby’s. Last year, Rago/Wright merged with LA Modern Auctions. (TAN)

FOR THE SAKE OF ART

A big Bharti Kher lands in Central Park – ancestor, an 18-foot-tall, 24-head sculpture by the British-Indian sculptor and commissioned by the Public Art Fund, now stands at the Fifth Avenue and 60th Street entrance to Central Park until August 2023. The new bronze work takes the form of an Indian goddess and “all her children” or “her other self,” according to the artist. (New York Times)

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