February 12, 2015

World's Most Expensive Painting By Paul Gauguin Sells for $385 Million


A painting of two Tahitian girls by French artist Paul Gauguin has become the world's most expensive painting after being sold for a record $300 million (AU$385 million).

The 1892 painting, Nafea Faa Ipoipo (When Will You Marry?), was reportedly bought by Qatar to be placed in its state-run museum. However, the country is yet to confirm the purchase, the Wall Street Journal reported.

The country previously held the record for most expensive painting, after buying Paul Cezanne's Two Card Players in 2011 for £160 million (AU$311 million).

The Gauguin painting was previously owned by the Swiss Rudolf Staechelin Family Trust. Staechelin is a retired Sotheby's executive and a passionate art collector. The painting had been housed in a museum in Basel, Switzerland for the past few decades until the sale.

The sale highlights a growing trend in Qatar of acquiring Western artwork for high sums.

Qatar Museums, who reportedly bought the painting according to the New York Times, has spent more than $1 billion on prestigious pieces of work.

Philip Hoffman, chief executive of London-based consultancy organisation, the Fine Art Fund Group, said: “We’re seeing a huge amount of build-up of private wealth, and we’re seeing those people allocate funds disproportionately to art collections. 

People think if they buy the best you’ll never lose money. It has become the ultimate status symbol to be surrounded by $500million or $1billion worth of art which no one else can have.”

Qatar's museum services is headed up by the sister of the Emir of Qatar, Sheikha Al Mayassa bint Hamad bin Khalifa Al Thani. 

As well as the Cezanne , she also oversaw the purchase of works by Andy Warhol, Damien Hirst and Mark Rothko.

By Rory Darvin

With thanks to Billionaires Australia 

Van Gogh On Dark Water Animation

This Fake Rembrandt Was Created By An Algorithm  

Fore-edge Painting: Artists Hide Paintings Along The Edges Of Old Books  

Insanely Realistic Pencil Drawings

Found: A Missing Paul Gauguin Painting

Royal Academy of British Art Coming To Town

Australia and the UK Battle Over Historic Paintings Of A Kangaroo And A Dingo

Finally: A Digital Home For Lost Masterpieces

America: "Painting a Nation" Exhibition in Art Gallery of NSW

Chauvet Cave Paintings: Cave Women Left Their Artistic Mark

London exhibition of Australian art holds up a mirror to our nation: more iconic images
500 Years of Female Portraits in Western Art

Some Fascinating Pictures featuring Alyssa Monks

Visual Art of the Human Body by Cecelia Webber

Ronnie Wood: His Art and The Rolling Stones

The lost Van Gogh: Painting found in Norwegian attic is confirmed as priceless work by Dutch master

Market Find Turns Out To Be A Lost Faberge Egg

Charles Dellschau: Secrets of An Undiscovered Visionary Artist

Tom Pinch: Time - Lapse Portraits of Paul McCartney and John Lennon

How JMW Turner Set Painting Free 

The Curious Case Of The Renaissance Cockatoo

Images On Andy Warhol’s Old Computer Discs Excite University Students

Human Ingenuity: From the Renaissance to the Age of the Internet - The Sistine Chapel

Katsushika Hokusai: Japanese Artist

Picasso's "Women of Algiers" Breaks Auction Record

Looted Treasures Open Door To The Dark Nazi Past

Long-lost Caravaggio Masterpiece Found In French Attic

Frederic Remington: The Man Who Helped Bring The West To Life 

Loving Vincent: The World's First Fully Painted Film 

Vincenzo Peruggia: The Man Who Stole The Mona Lisa And Made Her more Famous Than Ever

The Isleworth Mona Lisa: A Second Leonardo Masterpiece? 

 Optical Illusions In Art

MC Escher: An Enigma Behind an Illusion        
Hidden Degas Portrait Revealed

David Bowie's Personal Art Collection Auctioned Off For $30 Million