{"id":2113956,"date":"2026-08-25T16:01:00","date_gmt":"2026-08-25T13:01:00","guid":{"rendered":"https:\/\/analyse.optim.biz\/?p=2113956"},"modified":"2026-08-25T16:01:00","modified_gmt":"2026-08-25T13:01:00","slug":"is-billionaire-wealth-driving-modern-art-prices-and-more-art-news","status":"publish","type":"post","link":"https:\/\/analyse.optim.biz\/?p=2113956","title":{"rendered":"Is Billionaire Wealth Driving Modern Art Prices? And More Art News"},"content":{"rendered":"<p>[analyse_image type=&#8221;featured&#8221; src=&#8221;https:\/\/www.artnews.com\/wp-content\/uploads\/2025\/12\/GettyImages-2160632201.jpg?w=1024&#8243;]<\/p>\n<div class=\"a-content a-content--offset lrv-a-floated-parent lrv-u-font-family-body lrv-u-line-height-normal lrv-u-font-size-18 lrv-u-position-relative\">\n<div class=\"pmc-paywall\">\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \"><em>To receive\u00a0Morning Links\u00a0in your inbox every weekday,\u00a0sign\u00a0up\u00a0for our\u00a0<\/em>Breakfast with ARTnews<em>\u00a0newsletter<\/em>.<\/p>\n<h2 class=\"heading larva \/\/   a-font-primary-bold-l   \">\n\t\tGood Morning!\t<\/h2>\n<div class=\"container \/\/ lrv-u-margin-lr-auto lrv-a-font-body-m   \">\n<ul class=\"wp-block-list\">\n<li>The\u00a0<em>Financial Times<\/em>\u00a0has argued that billionaire wealth, not artistic value, is driving modern art\u2019s astronomical prices.<\/li>\n<li>Ex-Pussy Riot member Rita Flores said Russia\u2019s FSB tried to recruit her as an informant in 2023.<\/li>\n<li>A Kehinde Wiley painting has been removed from the American Embassy in the Dominican Republic for being \u201ctoo woke.\u201d<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"heading larva \/\/   a-font-primary-bold-l   \"><strong>The Headlines\u00a0<\/strong><\/h2>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \"><strong>MONEY OVER ART.<\/strong>\u00a0The<em><strong>\u00a0Financial Times<\/strong><\/em><em>\u00a0<\/em>has argued that the astronomical prices of top modernist paintings are less about intrinsic artistic value than wealth, scarcity, and the concentration of buying power among billionaires. Works once regarded as marginal or difficult have been transformed into ultra-expensive trophies as wealthy collectors compete for a limited supply of canonical art. The result is a market where price itself reinforces status: the more expensive a painting becomes, the more desirable it can be to the ultra-rich. The broader point is that extreme wealth has reshaped the art market, turning certain modernist works into financial and social assets as much as cultural objects. As\u00a0<strong>Sotheby\u2019s Europe\u00a0<\/strong>chair\u00a0<strong>Oliver Barker\u00a0<\/strong>put it: \u201cA billionaire class with deep, deep pockets is now pursuing names as if they are brands.\u201d<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \"><strong>RED SPARROW<\/strong>. In an interview with exiled Russian news channel that\u00a0<em><strong>Port Media<\/strong><\/em>\u00a0published on Monday, former\u00a0<strong>Pussy Riot\u00a0<\/strong>member<strong>\u00a0Rita Flores<\/strong>, real name\u00a0<strong>Margarita Konovalova<\/strong>, said Russia\u2019s\u00a0<strong>FSB<\/strong>\u00a0tried to recruit her as an informant in 2023, threatening her family and pressuring her to report on other artists. Flores alleges she was ordered to target anti-<strong>Kremlin<\/strong>\u00a0artists, including street artist\u00a0<strong>Philippenzo<\/strong>\u00a0and performance artist\u00a0<strong>Pavel Krisevich<\/strong>, and claims she was offered 3 million rubles ($35,000) to lure Pussy Riot co-founder\u00a0<strong>Pyotr Verzilov<\/strong>\u00a0to Serbia, where Russian agents planned to abduct and kill him. Flores says she ultimately escaped Russia with help from her lawyer.\u00a0<\/p>\n<h2 class=\"heading larva \/\/   a-font-primary-bold-l   \"><strong>The Digest<\/strong><\/h2>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\tEight costumes spanning the career of the late Queen frontman,\u00a0<strong>Freddie Mercury<\/strong>, are going on display at the\u00a0<strong>V&amp;A\u00a0<\/strong>in London. [Guardian]<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \"><strong>Taylor Swift\u00a0<\/strong>was interviewed at the\u00a0<strong>Grammy Museum<\/strong>\u00a0in LA, and she opened up about her \u201ccountry roots.\u201d [Billboard]<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \"><strong>V&amp;A<\/strong>\u00a0staff have voted overwhelmingly for strike action, with 95 percent backing walkouts over pay and working conditions. [Museum Association]<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\tNewly appointed peer<strong>\u00a0Ruth Mackenzie<\/strong>\u00a0is reportedly set to oversee the UK culture ministry\u2019s relationship with museums, libraries and\u00a0<strong>Arts Council England<\/strong>. [The Art Newspaper]<\/p>\n<h2 class=\"heading larva \/\/   a-font-primary-bold-l   \"><strong>The Kicker<\/strong><\/h2>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \"><strong>TOO WOKE?<\/strong>\u00a0The\u00a0<strong><em>New York Times\u00a0<\/em><\/strong>reported that the\u00a0<strong>US State Department<\/strong>\u00a0has removed\u00a0<strong>Kehinde Wiley<\/strong>\u2019s painting\u00a0<em>Young Artists After Siamesas 1960<\/em>\u00a0(2013) from the\u00a0<strong>American Embassy in the Dominican Republic<\/strong>, with officials branding it \u201cwoke\u201d and \u201caesthetically terrifying.\u201d They also indicated that they may sell it. Commissioned with public money in 2013, the painting depicts four Dominican art students. The move marks a dramatic reversal for the\u00a0<strong>Art in Embassies<\/strong>\u00a0program, which awarded Wiley its Medal of Arts in 2015 and commissioned the work as cultural diplomacy. Critics say its removal contradicts the program\u2019s founding mission and longstanding curatorial principles.<\/p>\n<\/div>\n<\/div>\n<p>[analyse_source url=&#8221;https:\/\/www.artnews.com\/art-news\/news\/morning-links-august-25-2026-1234795732\/&#8221;]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[analyse_image type=&#8221;featured&#8221; src=&#8221;https:\/\/www.artnews.com\/wp-content\/uploads\/2025\/12\/GettyImages-2160632201.jpg?w=1024&#8243;] To receive\u00a0Morning Links\u00a0in your inbox every weekday,\u00a0sign\u00a0up\u00a0for our\u00a0Breakfast with ARTnews\u00a0newsletter. Good Morning! The\u00a0Financial Times\u00a0has argued that billionaire wealth, not artistic value, is driving modern art\u2019s astronomical prices. Ex-Pussy Riot member Rita Flores said Russia\u2019s FSB tried to recruit her as an informant in 2023. A Kehinde Wiley painting has been removed from [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[61,226],"class_list":["post-2113956","post","type-post","status-publish","format-standard","hentry","category-politics","tag-artnews-com","tag-crawlmanager"],"_links":{"self":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts\/2113956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2113956"}],"version-history":[{"count":0,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts\/2113956\/revisions"}],"wp:attachment":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2113956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2113956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2113956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}