前澤友作、今日、「アートは自由だ。」 Yusaku Maezawa today’s Twitter posting “Art is liberty.”
MAEZAWA Yusaku 前澤友作 seems to be a free man of choice. He even has the guts to show the middle finger (aka famous マウリツィオ・カテラン Maurizio Cattelan’s work in front of Milan’s stock exchange) to his banks, namely, UBS ユービーエス グループ from Switzerland and ART BASEL アート・バーゼル sponsor (famous for illegally laundering money)
UBS Hit With Record Penalty After Money-Laundering Conviction
Bloomberg, February 20, 2019
A French judge has handed UBS Group AG a fine and damages of 4.5 billion euros ($5.1 billion), the largest penalty ever meted out to a Swiss bank, after it was found guilty of helping conceal its French clients’ assets.
and Japanese NOMURA HOLDINGS 野村ホールディングス, which is deep in the red because of mismanagement.
Nomura suffers biggest loss in a decade, hit by big write-off
CNBC JAN 31 2019
Other banks like conservative Japanese MIZUHO FINANCIAL Group みずほフィナンシャルグループ (A mega bank which encourages nuclear power through TEPCO (Tokyo Electric Power Co. = responsible for lying to the public about / covering up the “Fukushima” nuke melt down) as one of its top 10 major shareholders)
and Swiss Julius Baer Group ジュリアスベア銀行 (also famous for money laundering)
Former Julius Baer Executive Pleads Guilty to Money Laundering,AUG 22, 2018
are scared to loose all the money they lent to Mr. Maezawa, too.
Maezawa, who owns 36 percent of ZOZO’s outstanding shares (which lost 50% of their value in one year), according to data compiled by Bloomberg, has steadily increased the amount of his stock holdings pledged as collateral in loan agreements to the banks mentioned above. The ratio was 88 percent in February, according to regulatory filings with the nation’s financial watchdog.
The coming months will be fun to watch. Maezawa cashes in some private money through his (not very convincing) art collection, because he actually is forced to do it.
SOTHEBY’S CONTEMPORARY ART EVENING AUCTION
16 MAY 2019 | 7:00 PM EDT
Estimate 1,500,000 — 2,000,000 USD
signed and dated 64 on the overlap
acrylic and silkscreen ink on canvas
24 by 24 in. 61 by 61 cm.
LOT SOLD. 5,674,250 USD
BONES IN MOTION
Estimate 2,000,000 — 3,000,000 USD
signed and dated 2007 on the reverse
acrylic on canvas
60 by 60 in. 152.4 by 152.4 cm.
LOT SOLD. 2,420,000 USD
Contemporary Art Evening Sale, Sotheby’s Hongkong, 1 April 2019
MAEZAWA Yusaku collection George Condo “The Young Sailor” 2012
Contemporary Art Evening Sale, Sotheby’s Hongkong, 1 April 2019
MAEZAWA Yusaku collection Rudolf Stingel work
If he succeeds in turning around his company ZOZO Inc. 株式会社ZOZO,
he will have the last laugh.
I feel obviously entertained by his artistic practice, laissez-faire attitude in public for quite a long time. Life goes on, with and without money. Enjoy your art as much as possible you can, Maezawa-san. Probably you had much fun in doing some kind of art dealing (antique Japanese pottery?) with Japanese global art star MURAKAMI Takashi 村上隆, too.
The Man Who Ruined The Japanese Art World? An Unhappy MURAKAMI Takashi…
Yusaku Maezawa (MZ) 前澤友作 @yousuck2020
11:34 PM – 8 Dec 2016
The Mori Arts Center Gallery 森アーツセンターギャラリー, belonging to the Mori Museum 森美術館 (which also has no sufficient money for a serious, historical collection), is waiting for your two Basquiats, to cash in some money, too.
Let’s see, if Mr. Maezawa will sell his Basquiats just right after the exhibition at the Mori Arts Center Gallery. That would be scandalous, not only in the context of the global art world, but also for the “Japanese Council of Art Museums” 全国美術館会議
and for the “International Council of Museums” (ICOM) 国際博物館会議
Tokyo, 令和元年 Japanese Imperial Era Reiwa 1, May 8th
Compare my former entries:
Is this the end of the ‘MAEZAWA Yusaku Collection’?
MAEZAWA Yusaku, crazy about auctions at Sotheby’s and Christie’s
MAEZAWA Yusaku’s American Artist Darling Mark Grotjahn @ Christie’s London & Lévy Gorvy : Sharp Depreciation
THE TOP 200 COLLECTORS (ARTnews 2018)
Nomura Holdings appeals with a ‘US$ 1 Million Nomura Art Award’ not in Tokyo but in China’s Shanghai
up-date, as a reference:
‘Portuguese Saatchi’ in hot water over alleged €1bn debt
30th May 2019
The vast modern and contemporary art collection of José “Joe” Berardo, the Madeira-born collector once dubbed the “Portuguese Saatchi”, is at stake after three Portuguese banks filed a lawsuit to recover debts from the businessman totalling almost €1bn.
Berardo’s 900-strong collection—comprising major works by Pablo Picasso, Nan Goldin and Francis Bacon—is on show at the Centro Cultural de Belém in Lisbon as part of a private-public partnership with the Portuguese government. It is one of the most visited museums in Portugal.
In April, three banks filed a lawsuit to recover debts from the entrepreneur totalling €962m. The banks—Caixa Geral de Depósitos (CGD), Novo Banco and BCP—had previously tried to seize a portion of Berardo’s collection after he allegedly defaulted on repayments.
The recent controversy prompted the Portuguese parliament to hold an inquiry that involved summoning Berardo to an open question session. In the hearing on 10 May, the businessman insisted that he “has no debts” and stressed that his only capital asset is a garage in Funchal, Madeira. His comments enflamed the Portuguese Prime Minister António Costa who was “shocked” by the entrepreneur’s attitude, according to local reports.
Berardo, who is the chairman of the holding company Metalgest, began taking out loans in the late 2000s; the bank CGD lent the entrepreneur around €400m (€350m to the José Berardo Foundation and €50m to Metalgest).
The three banks began legal proceedings in 2017 in a bid to seize 75% of Berardo’s collection, which was pledged as collateral. The art holdings are owned and managed by a company known as the Berardo Collection Association.
After the proceedings stalled, all parties tried to reach an agreement in January but the negotiations broke down. The latest lawsuit filed in April seeking €962m names José Berardo and three associated companies: the José Berardo Foundation, Metalgest—Sociedade de Gestão, Sgps, SA and Moagens Associadas, SA. “The legal strategy is to prove that Berardo is the beneficiary of the associated companies [and therefore liable],” according to the local news website Expatica. It is unclear if the banks will pursue Berardo’s collection under the new lawsuit.
Berardo’s lawyer, André Gomes, did not respond to requests for comment. CGD also declined to comment. A spokesman for BCP says that the bank does not comment on matters involving customer relationships.
Meanwhile, the Portuguese state is tied up in a deal with Berardo over his collection. In 2006, the businessman signed an agreement with the Portuguese government to loan art from his collection on a long-term basis to the Belém Cultural Center in Lisbon; the section of the building housing the works is known as the Museu Coleção Berardo, one of the most visited museums in Portugal.
The deal was renewed in 2017 giving the Portuguese government the option to purchase works from the collection until the agreements ends in late 2022. “While this contract is still in force, the Berardo Collection Association may not sell cultural goods,” the Portuguese Ministry of Culture says in a statement. The government subsequently pays a subsidy to the Berardo Foundation, which goes towards operational expenses at the Museu Coleção Berardo. The culture ministry declined to comment further.
Creative Commons Attribution Noncommercial-NoDerivative Works
photos: cccs courtesy creative common sense