Heiner Blum nominated for Durex Art Award
Reckitt Benckiser art division

The Durex Art Award is one of the most renowned awards for living artists.

Heiner Blum, professor at University of Art and Design Offenbach, has been nominated for the Durex Art Award, the Praxis Center for Aesthetic Studies as part of the international company Reckitt Benckiser, that owns the condom brand Durex, recently announced.

This year, out of a huge amount of considered artists that had either submitted or had been suggested, the jury had the difficult job to select a shortlist consisting of four artists where Heiner Blum is the first to be announced of.

Blum, a German who lives in Offenbach, earned a place on the shortlist with his approach to conceptual artworks.

»We have two awards to offer in order to support fine artists«, says Mia Lian, head of the center. »The Durex Art Award is one of the most renowned awards for living artists with an oeuvre that one can call sovereign and also helps foster the creativity and talent of many artists across the world. The award is especially for artists who approach their artworks in a hermetical way with a high amount of seclusion against critique. Artist who rather making statements than asking questions in their artworks.
As a point of contrast we also created the Cillit Bang Award that seeks for artists who practice a different approach for their work like asking questions instead of giving answers. Many artists of both approaches adapted these strategies and also had noticeable amounts of success in the scene of art.«

The Reckitt Benckiser art division gives more than 300 000 £ in scholarships annually to top awards recipients. The division also partners with art institutes, colleges, and universities to earmark scholarships for college-bound scholastic award recipients.

Brexit: 35% additional tax on artworks
Punitive tariff

After the inglorious Brexit voting of the UK leaving the EU, both parties started to negotiate the conditions for exit

and it certainly is going to be a tough time for both. »Britain will fight back if the EU will not strike an acceptable deal on Brexit«, finance minister Philip Hammond said. He also said that Britain would »do whatever we need to do« to be competitive if the country left the European Union without concluding a trade agreement.

As of now one thing is for certain: The EU announced that it is going to establish an additional tax of 35% on every transaction of anything having to with art. »As being a strong European Union we are going to encounter protective duties against artworks of lesser quality. And by that also UK’s art businesses since they are flooding the markets and European artworks are getting exported to Britain’s channel islands Jersey and Guernsey in order to function as backup capital for their financial market and nobody can see these works anymore.«, as EU minister of culture Simon Lang said.

By bringing this tax to life artists with already high markets prizes like Damien Hirst or Andrew Vicari, two multi-millionaire British artists, are getting even more expensive. This might not be a good move for them as collectors certainly are less willing to pay 35% more for the same artwork.
This is also might be the reason why Wolfgang Tillmans, also multi-millionaire, campaigned against the Brexit so badly.

When the European Union sets up its barrier on art, the UK will follow for sure as they announced to fight back their way for every bad tax the EU creates. It maybe start a war on trade if both parties can’t find some deals for free trade.

Deutsche Bank sells art collection
Capital procurement

Due to financial problems Deutsche Bank is selling its art collection

Deutsche Bank AG said it will start to sell its collection of artworks, originally founded in 1979, as Germany’s largest lender seeks to shore up its finances and boost growth.

The company, it said in a recent statement, will delegate the preparation for several auctions to Sotheby’s, one of the world’s largest brokers of fine and decorative art.
The offer includes almost the complete art collection which consists of 18328 artworks from the most acknowledged artists over the world.
Existing investors will be able to acquire artworks in beforehand.

The sale will contemplate the fourth capital infusion for Deutsche Bank since 2010. Chief Executive Officer John Cryan, who had previously said he didn’t want to tap shareholders, reversed the shares almost doubled from their last low.

Among the collection there will be artworks offered from artists like Richard Arp, Hans Artschwager, Joseph Baselitz, Georg Beuys, Isa Fischli, Peter Genzken, Egon Gursky, Claude and Jeanne-Christo, Gerhard Kandinsky, Wassily Richter, Andreas Schiele and many more.

“The environment for the collection sale is almost perfect, given the expectation of capital efficiency and growth potential,” Ingo Frommen, an analyst with LBBW who has a hold recommendation on the stock, said ahead of the announcement.

Germany’s largest lender has posted more than 8 billion euros of net losses in the past two years as Cryan settled misconduct cases and scaled back risk in the investment bank. He’s trying to sweeten the offer with the promise of renewed dividends and a return to profitability this year.

Qatar’s royal family and China’s HNA Group Co., two of Deutsche Bank’s biggest investors, plan to buy important parts of the collection with a view to also increasing their share stakes, people with knowledge of the matter said earlier this month.

“The environment for the collection sale is almost perfect, given the expectation of capital efficiency and growth potential,” Ingo Frommen, an analyst with LBBW who has a hold recommendation on the stock, said ahead of the announcement.

Germany’s largest lender has posted more than 8 billion euros of net losses in the past two years as Cryan settled misconduct cases and scaled back risk in the investment bank. He’s trying to sweeten the offer with the promise of renewed dividends and a return to profitability this year.

Qatar’s royal family and China’s HNA Group Co., two of Deutsche Bank’s biggest investors, plan to buy important parts of the collection with a view to also increasing their stakes, people with knowledge of the matter said earlier this month.