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Tuesday
02Feb2010

Will Obama tax hikes for the wealthy boomerang against the arts? Yazzy's at www.williamverdult.com

Nonprofit arts organizations that count on citizens in the upper income brackets to kick in big donations -- and that would be just about all of them -- may want to put their fundraising efforts on fast-forward this year according to the Los Angeles Times.
If President Obama has his way, the Chronicle of Philanthropy reported Monday, tax deductions for charitable donations will be capped at 28% starting in 2011 for individuals earning more than $200,000 and joint-filers whose income tops $250,000. The current tax write-off for people in the top bracket is 35%.
So an arts philanthropist donating a $1-million gift to a museum or performance group would get a $350,000 tax break this year, but only $280,000 in 2011.
Besides potentially lessening the tax incentive for the wealthy to give, the president's tax proposal would end tax cuts for wealthy Americans, restoring the top tax bracket to 39.5%, where it stood before 2001 cuts, slated to last 10 years, reduced the top bracket to 35%. That means the wealthiest donors would have a bit less disposable income to contribute to their favorite charities, arts or otherwise. If the very rich decide to put dollars that they otherwise might have given away into a rainy-day fund to pay the taxman, arts groups and other nonprofits could suffer.

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Monday
01Feb2010

Christie’s Sees Art-Market Recovery After 24% Decline in Sales: Yazzy's at www.williamverdult.com

Ramses III
Christie’s International said that it is confident of the art market recovering after sales declined 24 percent in 2009, a “demanding year” according to Bloomberg
Total sales decreased to 2.1 billion pounds ($3.4 billion at today’s rate), the London-based auction house said in an e- mailed statement today. Revenue from contemporary art was the most badly affected by the economic crisis, falling 59 percent to 244.3 million pounds.
Collectors responded to the financial crisis in 2009 by selecting the best 20th-century classics, Old Masters, wine and jewelry, and rejecting some contemporary works at international auctions by Christie’s and its rival Sotheby’s. Private bidders, especially from Asia, have been boosting success rates even as totals decline. Average selling rates by lot at auctions increased 5 per cent to 80 percent in 2009, said the company.
“These figures were much better than we expected,” Edward Dolman, Christie’s chief executive, said in a telephone interview. “The art market is vulnerable and we thought we’d be down 50 percent, as we were in the last recession in 1991.”
Bolstered by the record 342.5 million-euro ($480 million) success of the collection of Yves Saint Laurent and Pierre Berge in Paris in February, Impressionist & Modern works dominated Christie’s 2009 earnings, with 500.9 million pounds of sales. Asian art, for the first time, was the second-highest contributor at 265.1 million pounds, said the auction house.
The Saint Laurent sale -- the most expensive single- ownership collection ever auctioned -- was held when confidence in markets had been at their lowest ebb, said Dolman.
“It showed us the reality of the new masterpiece market,” he said. “People are looking for exceptional objects, and they’re looking for the same things. Most of the top lots went to Middle Eastern and Russian buyers, underbid by Asian clients. Our new clientele was in place.”

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Sunday
31Jan2010

Some Truely Rare Stuff - Yazzy's at www.williamverdult.com

Black China Pottery Special Edition 

Master Ramses III - The Rarest of Rare

For the first time ever Verdult's King Tut renderings are combined with China’s black pottery providing rare, exceptional one of a kind artwork.

Combining the significant works of William Verdult with China’s ancient and rare black pottery, Verdult’s King Tut Black Pottery Special Editionprovides investors, collectors, and art enthusiasts with an opportunity to own Verdult artwork that are truly rare.

As a listed artist Verdult’s King Tut renditions are known internationally, coupled with the grace, ageless beauty and magnificent charm of China’s ancient black pottery and you have a limited and rare edition of Verdult work previously not available anywhere.

For more info>>>>

Saturday
30Jan2010

E.E. Cummings And His Works in Paint - Yazzy's at www.williamverdult.com

OB-AR731_ee1_ss_20071010100054.jpgAccording to Judith h. Dobrzynski of the Wall Street Journal, You have to go out of your way to get to Brockport, N.Y., a pretty little Victorian village west of Rochester that had its moment in the sun before the Civil War, when the Erie Canal briefly ended there and canal boats loaded up on products like grain and cod liver oil. Yet a few enterprising Brockporters are hoping that arts-lovers will beat a path to their door this month to help them restore the works of the painter E.E. Cummings, which are torn, dusty, stained and otherwise in pitiful condition.

That's right: The very same enduringly popular, inventive bard of love, sex, rebellion and nature who ranks with the best of 20th-century poets painted with paints as well as with verbal images arranged just-so on a page.

Cummings's paintings are largely forgotten, but he considered himself just as talented a painter as a poet, and worked hard at it, especially on his early abstractions. He made thousands of works. "He painted every day, and devoted more time to it than to his poems," says Milton A. Cohen, a humanities professor at the University of Texas at Dallas and author of "Poet and the Painter: The Aesthetics of E.E. Cummings' Early Work."

How 72 of those paintings ended up in disrepair at the State University of New York at Brockport -- miles away literally and figuratively from Cummings's bohemian life in Greenwich Village, Paris and New England

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Saturday
19Dec2009

The Original Book of Appraisals, Yazzy's at www.williamverdult.com

The Original Book of Appraisals
Click to get Appraisals

The Recent Appraisal Book provides you with up to date hard copies of appraisals recently conducted by the National Institute of Appraisers. This book provides credability for Verdult art and insight into buy/sell, lending and insurance decisions.

For: appraisers, buyers, sellers, lenders, and owners
Full color documents.
Provides the latest formal appraisals of William Verdult artwork.