BA to sell Art works
Jun 18, 2020, 2:38 pm
#61
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Jun 18, 2020, 2:55 pm
#62
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Jun 18, 2020, 3:06 pm
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Jun 18, 2020, 6:54 pm
#65
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Jun 19, 2020, 12:57 am
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Jul 14, 2020, 3:12 pm
#68
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There is a bit more info available on the London Air Travel website
https://londonairtravel.com/2020/07/...rt-collection/
https://londonairtravel.com/2020/07/...rt-collection/
Sotheby’s is to auction selected works of art from British Airways’ lounges around the world as the airline seeks to raise funds to survive the impact of COVID-19.
Standout works include “Cool Edge” by Bridget Riley which is valued up to £1.2m and will be auctioned amongst works from other collectors at a “Rembrandt to Richter” auction on Tuesday 28 July 2020.
Other items from the BA collection to be auctioned by Sotheby’s at future auctions this month include works by Damian Hirst and Peter Doig. In total, 17 pieces will be auctioned from BA’s collection of 1,500 works of art. (No, you can’t earn Avios at Sotheby’s!)
Standout works include “Cool Edge” by Bridget Riley which is valued up to £1.2m and will be auctioned amongst works from other collectors at a “Rembrandt to Richter” auction on Tuesday 28 July 2020.
Other items from the BA collection to be auctioned by Sotheby’s at future auctions this month include works by Damian Hirst and Peter Doig. In total, 17 pieces will be auctioned from BA’s collection of 1,500 works of art. (No, you can’t earn Avios at Sotheby’s!)
Jul 17, 2020, 12:23 pm
#71
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Jul 30, 2020, 4:34 pm
#72
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Seventeen items went under the hammer for a total of £2.2M
“Cool Edge” by Bridget Riley £1,875,000
“Grasshopper Portfolio” by Peter Doig, £56,250
“Colour Down The Side” by Sir Terry Frost, £47,000
“Scarlet and Bordeaux in Cobalt” by Patrick Heron, £32,500
“Sunglow” by Sir Terry Frost, £30,000
“Valium” by Damien Hirst, £27,500
“Scenes From The Passion: (Ash Wednesday)” by George Shaw, £21,250
“Scenes From The Passion: The Path In” by George Shaw, £18,750
Eight Landscapes by Julian Opie, £13,750
“Untitled” (Rose) by Bridget Riley, £13,750
“Untitled” (Bronze) by Bridget Riley, £11,250
“Untitled” (Elongated Triangles 1) by Bridget Riley, £10,625
“Untitled” (Elongated Triangles 4) by Bridget Riley, £10,000
“Untitled” (Elongated Triangles 2) by Bridget Riley, £9,375
“Untitled” (Elongated Triangles 6) by Bridget Riley, £8,750
“Untitled” (Elongated Triangles 5) by Bridget Riley, £8,125
“Garden 2” by Marc Quinn, £7,500
“Cool Edge” by Bridget Riley £1,875,000
“Grasshopper Portfolio” by Peter Doig, £56,250
“Colour Down The Side” by Sir Terry Frost, £47,000
“Scarlet and Bordeaux in Cobalt” by Patrick Heron, £32,500
“Sunglow” by Sir Terry Frost, £30,000
“Valium” by Damien Hirst, £27,500
“Scenes From The Passion: (Ash Wednesday)” by George Shaw, £21,250
“Scenes From The Passion: The Path In” by George Shaw, £18,750
Eight Landscapes by Julian Opie, £13,750
“Untitled” (Rose) by Bridget Riley, £13,750
“Untitled” (Bronze) by Bridget Riley, £11,250
“Untitled” (Elongated Triangles 1) by Bridget Riley, £10,625
“Untitled” (Elongated Triangles 4) by Bridget Riley, £10,000
“Untitled” (Elongated Triangles 2) by Bridget Riley, £9,375
“Untitled” (Elongated Triangles 6) by Bridget Riley, £8,750
“Untitled” (Elongated Triangles 5) by Bridget Riley, £8,125
“Garden 2” by Marc Quinn, £7,500
Last edited by Prospero; Jul 30, 2020 at 4:45 pm
Jul 30, 2020, 9:51 pm
#74
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I don't really see the point in selling these pieces. To a corporation the size of BA £2.2M is nothing, and the net realized will be less after commission from the auctioneer.
In BA's statements their cash available as of April 30 was €10 billion, and revenue was approx €1.5 billion per month so in comparison the £1.7million they might realize after auction fees is is less than an hour's worth of revenue, while the art is very difficult to replace. I just can't see selling the art making anything more than the most minuscule difference to the balance sheet. It hardly even rises to the level of rounding error on the financial statements.
In BA's statements their cash available as of April 30 was €10 billion, and revenue was approx €1.5 billion per month so in comparison the £1.7million they might realize after auction fees is is less than an hour's worth of revenue, while the art is very difficult to replace. I just can't see selling the art making anything more than the most minuscule difference to the balance sheet. It hardly even rises to the level of rounding error on the financial statements.
Jul 31, 2020, 1:07 am
#75
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The big Bridget could go. The rest will have lost money on the sale.
The price you see includes 20% buyers premium - BA doesn’t get that. BA also pays its own fees to Sotheby’s. Assume at least 35% in total.
You then have all the staff time involved plus the cost of replacing the sold art. It is purely political.
The Marc Quinn for eg is 8 images. BA gets £5k net and has 8 slots on its walls to fill with the proceeds.
The price you see includes 20% buyers premium - BA doesn’t get that. BA also pays its own fees to Sotheby’s. Assume at least 35% in total.
You then have all the staff time involved plus the cost of replacing the sold art. It is purely political.
The Marc Quinn for eg is 8 images. BA gets £5k net and has 8 slots on its walls to fill with the proceeds.