It's not just oil they talk about in the Middle East, these days. With millions of the region's dollars being spent in an explosion of art collecting, they could just as easily be talking about oil paintings.
When people think of Venice, three things come to mind: gondolas, art and sinking buildings. The watery city, a treasure trove of Renaissance art and architecture, is not normally associated with cutting-edge cool.
On the edge of Paris, on a site that once housed a decrepit municipal bowling alley, an opulent new museum is taking shape. Designed by Frank Gehry at a cost of more than $200 million, it is expected to be finished in two years, and will feature a giant auditorium and a permanent collection of modern and contemporary art, including works by Mark Rothko, Francis Bacon, Takashi Murakami, and Damien Hirst.
Luxury these days is a tale of two markets: consumers continue to snap up high-priced Louis Vuitton bags even as they balk at paying full price for Coach handbags. The same can be said of demand for works of art.
The stars came out on Valentine's night to spread the love – and the cash – for Bono's (RED) charity, and raised more than $42 million in an art auction to benefit the Global Fund of the United Nations Foundation, which works to fight AIDS in Africa.
Banksy is Britain's most wanted artist -- his art sells for hundreds of thousands of dollars, but he continues to use public spaces as his main canvas, while all the time keeping his identity a secret.
Caroline Wright, 24, a talented emerging artist from Texas, uploads photos of her paintings to her new profile at the Your Gallery section of the Saatchi Web site. The site is a virtual network (a kind of MySpace spin off) created by the famed British art dealer Charles Saatchi.
Before his death in 1947, French painter Pierre Bonnard toiled for four years on a single painting of his wife, laboring over every detail as he tried to maintain a style he had spent a lifetime perfecting.