| Tall order: Miniatures make their presence felt at art auctions
KOLKATA: As anticipated some time back, prices of Indian miniatures are on the rise. What is noticeable in almost all recent auctions is that prices of miniatures are shooting past pre-sale estimates (minimum reserve price) by 2-10 times. On an average, the reserve levels have been surpassed by four to five times. "This shows the revival of interest among art lovers in various miniature schools. It holds true for miniatures auctioned at Christie's, Sotheby's and Bonhams and also at auctions in India. This is driving home the fact that together with modern and contemporary art — which have shown fabulous price levels —, other art genres can also gain popularity. It also underscores that art lovers have begun to focus on Indian art as a spread, and buying what interests them. Besides, since artworks like miniatures were lying at relatively low-price points, they harbour a lot of scope for further rise," an art market source said.
Art show openings
ART ON THE HILL: Thirty artists display and sell their work, music by the Overtones (10 a.m.-1 p.m.) and children's make-and-take art area. 9 a.m.-4 p.m. April 28. On grounds of two residences: 17606 and 17614 N.E. 134th, Kearney. Free. (816-550-3268) CORKS AND CANVAS: ART, FOOD AND WINE AUCTION: Live and silent auctions, well-known caterers, art from local and national artists, exquisite wine and creatively themed party packages. 7-10 p.m. April 27; Boulevard Brewing Co., 2501 Southwest Blvd. Pre-event Patron Party 5:30-8:30 p.m. April 20. Call for details. $50-$55. www.gspkc.org (816-561-8784) GWEN WIDMER ON WARNER UNTERSEE: Lecture on social context of success and expanse of work of Warner Studios. 2 p.m. April 22; Kansas City Museum at Corinthian Hall, 3218 Gladstone.
Foreclosures soar in county
Washtenaw County homeowners are facing foreclosures in record numbers, the result of a weak economy, a glutted housing market, and adjustable rate mortgages that have bit homeowners hard as interest rates jumped. "I used to do five or six foreclosures a week. Now I do 19 to 30,'' said Special Deputy Jimmy Moore, who auctions off mortgage foreclosures every week at the Washtenaw County Courthouse. Experts say the increase in foreclosures has a broader impact because it contributes to the drop in home prices and puts a dent in local tax revenues. Moore, who runs the civil division of the sheriff's department, says the increase he noticed a year ago has gotten steadily worse. The number of evictions from rental properties in the county has skyrocketed as well.
CMC Bids for Croation Mill
Commercial Metals International, a subsidiary of Commercial Metals Co., is seeking to acquire "Zeljezara Split" d.d. Kastel Sucurac (Split) from the Croatian Privatization Fund. Split is an electric arc furnace steel reinforcing bar mill with a wire mesh facility. The bid is around $28 million, which does not include additional working capital requirements for increasing production levels. This is the second of Croatia's two operating steel mills for which CMI has submitted a purchase offer. Earlier this year, CMC announced that CMI had submitted a bid for the Valjaonica Cijevi Sisak pipe mill. However, bids for that mill were rejected by the Fund, which has requested new bids by April 17. CMC expects to rebid on the Sisak mill. According to CMI, a total of six bids have been made for the Split mill.
|
