Beyoncé

Photo Credit: Shutterstock

Beyoncé, singer songwriter and pop culture icon, has recently made news with her newest campaign in collaboration with Tiffany & Co. In the photoshoot, she became the fourth woman in the world to wear a 128.54-carat yellow gem. Since its release, the advertisement has become controversial due to the diamond’s colonial origins as well as the use of a never-before-seen Jean-Michel Basquiat “Equals Pi” print rendered in Tiffany Blue. Nonetheless, the project began with benevolent intentions as Tiffany promises to donate $2 million to scholarship and internship programs for historically black academic institutions.

While Beyoncé and Tiffany set out to highlight an extravagant $30 million diamond necklace, the mansion where the campaign was shot showcased its own luxurious nature. Located in the Bel Air neighborhood of Los Angeles, the expansive mansion was designed by the award-winning architect, Zoltan Pali. The lavish home was completed in December of 2018 and listed at $56 million. In May of this year, the price was reduced to $42 million. Pali states, “Given its prominent positioning above a relatively developed neighborhood, the motivation behind the design of the home was to create a residence that could meld into its surroundings while maximizing views.”

The bedazzling Bel Air spread spans 18,850 square feet with the nine bedrooms and ten full baths. The three-story building is comprised of glass walls to give the illusion of an airy and floating atmosphere. Stepping inside, the sprawling mansion presents dual chef’s kitchens, living rooms, a 1,000-bottle wine room, a Dolby Atmos theater, and a wellness center. Decorative elements of the home consist of gold finishes, limestone from Portugal and Italy, and black and white marble imported Italy, Switzerland, Turkey, and China. Stepping outside, the exterior space offers a 6,000-square-foot space with shaded patios, lounging areas, fire pits, an LED-lit ozone pool, and a hot tub. Additionally, the 1.55-acre lot boasts a 30-car motor court, a four-bed guest house, and lush greenery.

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Famous faces are making regular appearances at Art Basel, museum benefits, and auctions. While personal tastes vary–these art collecting celebs have walls in their homes that would rival any gallery show.

Leonardo DiCaprio's Art Collection

Call DiCaprio "The Wolf of Wall Art." This guy is a fixture on the art auction circuit. He may try to keep a low profile with a cap pulled low over his eyes, but it's hard for him to hide once the bidding starts.

One of DiCaprio's first big art purchases was a Jean-Michel Basquiat drawing. He told the Wall Street Journal, "I’ve continued to be a huge admirer of Basquiat.”

He has also purchased work by Andy Warhol, Picasso, Takashi Murakami, Oscar Murillo, Walton Ford, Ed Ruscha, and Mark Ryden.

DiCaprio has even found ways to combine his philanthropic work with art appreciation. In 2013, he held "The 11th Hour Sale" a Christie's charity auction to benefit some of his environmental causes. During the event, DiCaprio purchased a painting by his friend Walton Ford for $250,000. At Sean Penn’s Haiti Rising Gala charity auction in Beverly Hills, DiCaprio purchased a work by Ed Ruscha for $125,000.

Last year, DiCaprio made headlines for having to surrender a $3.2 million Picasso and a $9 million Basquiat to the US government. The works were connected to the 1Malaysia Development Berhad embezzlement scandal. Because the art in question were gifts, DiCaprio was not charged with any crimes or implicated in any wrongdoing. A statement from the actor about the pieces read, "Mr. DiCaprio is grateful for the support of the government in this effort and continues to hope that justice is done in this matter."

Because of the immense value of the artwork DiCaprio deals in, he often consults advisors, like his art dealer friend David Nahmad, before making large purchases.

Beyoncé and Jay-Z's Love of Art

Beyoncé and Jay-Z have several ties to the art world. Jay performed his song “Picasso Baby” at Pace Gallery in 2013. Beyoncé hired the Ethiopian artist Awol Erizku to take her pregnancy-announcement photos, and the resulting images "broke the internet." Erizku's work is known for colorful compositions that repurpose found objects. He said in a 2015 interview, "I make things that I want to see in the world." He wasn't the only artist to be inspired by Queen B and Jay. Damien Hirst has also made two artworks inspired by the couple.

Beyoncé and Jay-Z have collected art from Andy Warhol, Richard Prince, Jean-Michel Basquiat, Tim Noble and Sue Webster, George Condo, Laurie Simmons, David Hammons, Richard Prince, and Ed Ruscha.

"Dustheads" by Jean Michel Basquiat sold in 2015 for 49 million

The couple regularly attends Art Basel in Miami. Beyoncé also shared some insight into her love of the artist Basquiat on her blog, "What I find in the artwork of Jean-Michel Basquiat I search for every day in music. His art is musical, his broad strokes, he is lyrical and raw."

In 2014, Jay-Z dressed up like Basquiat and Beyoncé went out as artist Frida Kahlo for Halloween. Art is a way of life for these two.

Brad Pitt's Art and Furniture

In addition to his collaboration with Frank Pollaro making art deco furniture, Pitt made a splash at Art Basel Switzerland in 2009 when he dropped $1 million on Neo Rauch’s colorful 9-foot long racetrack painting "Etappe."

Pitt has also been a long-term donor to the Los Angeles Museum of Contemporary Art–even applying at one point to serve on their board.

Appraisers estimate Pitt's art collection to be worth $25 million. His holdings include works by Banksy, Dom Pattinson, Ed Ruscha and Richard Serra.

Since his split from Angelina Jolie, Pitt has turned his attention to art making. He spent a month at the studio of artist Thomas Houseago learning how to make sculpture.

Other Notable Celebrity Art Collectors

This painting by Fernand Legér hangs in Madonna's living room.

Madonna was a young club kid when the pop art movement and Andy Warhol's warehouse took over New York City. She dated Basquiat for a hot minute in the 1980s and now has an art collection worth $100 million. She has been friends with many successful artists during her long career.

Neil Patrick Harris and David Burtka have a Harlem townhouse filled with art. They especially like the oil painting in their living room by artist Kehinde Wiley.

David and Victoria Beckham are well-known patrons on the art circuit too.

Victoria teamed up with Sotheby's earlier this year for a curated exhibition of 16 paintings by "Old Masters." She handpicked all of the pieces displayed.

David and Victoria have filled their home with "love-themed" art from some of the hottest artists on the market. For his daughter Harper's birthday, David commissioned a piece entitled "Daddy's Girl" from Damien Hirst. Victoria purchased a neon heart by Tracy Emin that says, "I Felt You And I Knew You Loved Me." The couple has gifted each other artwork by Emin for years.

Their enviable collection also includes works by Jeff Koons, Banksy, Eddie Peake, Yayoi Kusama and Andy Warhol.

The post Beyonce And Jay-Z, Leonardo DiCaprio, Brad Pitt, Among Celebs Amassing Art Fortunes appeared first on Haute Residence by Haute Living.

Two very different record-breaking paintings topped the art market and news.

Photo credit: Sotheby’s

Untitled by Jean-Michel Basquiat sold to the Japanese collector Yusaku Maezawa for $110.5 million (Sotheby’s), setting  a new record for an American artist.

Photo credit Christie’s

Leonardo da Vinci’s Salvator Mundi sold at Christie’s auction for $450 million. Despite the fact that some experts criticized its condition and others doubted its authenticity, it crushed the previous world record set by Picasso’s Women of Algiers in 2015 at $179 million.

Although those are extreme examples, the entire art market proved very strong, driven by post-war and contemporary art.

Wine, the 2016’s top-performing asset class, rose 11% in 2017, compared with  24% in 2016. It is now the second place asset class after art. Much of the demand for wine comes from Asia. Burgundy markets increased the most, at 16.5% though many wine regions were hit hard due to frost damage (some production down as much 70% in volume).

Photo credit: RM Sotheby's

Classic cars, a consistently strong asset class, saw record-breaking sales. The top seller was a 1956 Aston Martin DBR1, raced by legendary Stirling Moss, at a RM Sotheby’s auction for $22.5 million. It was the most expensive British car ever sold. Some other notable sales were a 1995 McLaren F1 sold through Bonhams for $15.6 million and a 1959 Ferrari 250GT California Spider LWB that sold for $18 million.

Photo credit: Sotheby's

In other asset classes, Hong Kong jeweler Chow Tai Fook paid $71.2 million for “the Pink Star,” a 59.6-carat vivid pink diamond. A a 1,000-year-old Ru guanyo ceramic brush-washing bowl sold for $40 million. And a rare set of four 16th- or 17th-century Chinese huanghuali folding chairs, sold for almost $7.5 million.

To read the full report, click here.

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