Abramovich’s partner sets up new gallery in Moscow

Russian billionaire Mikhail Prokhorov, whose fortune is estimated by Forbes magazine at $19.5 billion, has pulled out as general sponsor of Ilya and Emilia Kabakov’s first retrospective in their native Russia. Despite the setback, the artists say the show will open as planned on 15 September in the Pushkin Museum of Fine Arts and CCC … Read more

Chelsea owner buys Lucien Freud painting

Chelsea Football Club owner Roman Abramovich bought two paintings that were sold at record-breaking auctions last week, according to reports. Lucian Freud’s Benefits Supervisor Sleeping sold for £17.2m on Tuesday, followed by Francis Bacon’s Triptych, which fetched £43m just 24 hours later. The Art Newspaper quoted sources saying the London-based Russian billionaire was the buyer … Read more