This week's Art Investment News ...

Spooked by China art prices? Asians turn to Japan Reuters - 24th March 08

Japan's neighbours, Chinese, Koreans and Taiwanese in particular, go bargain-hunting for undervalued contemporary art. A whole new range of projects in Tokyo, from art fairs to investment funds, are welcoming these investors. Read more at:

http://uk.reuters.com/article/stageNews/idUKT35057920080325

Middle East's biggest art fair draws crowds 22^nd March 08, Middle East Online

Thousands of art lovers flock to Art Dubai where 68 galleries from 28 countries participated. "In the face of a possible international downturn in the financial markets, the global art market is looking to the emerging markets of the Middle East and South Asia to keep it fuelled," said John Martin, director of Art Dubai. Read more at:

http://www.middle-east-online.com/english/?id=24988

Buyers took their pick of Andy Warhol's depiction of cars, sold for $1.95 million, photographs by famous Iranian artist Shirin Neshat for more than $300,000, and a Julian Opie piece for $62,000. Read more at:

http://www.middle-east-online.com/english/?id=24988

LONDON 22^nd March 08 -- A three-panel painting by Francis Bacon could smash the auction record for the artist's work when it is offered for sale at Sotheby's in New York on 14 May. Read more at: http://www.theartnewspaper.com/article.asp?id=7704

The art which fell foul of Fidel Castro 19th March 08

Paintings made before the current regime seized power in Cuba are on display at the Museum of Arts and Sciences in Daytona Beach, Florida NEW YORK. These include 93 works in "Great Masters of Cuban Art 1800-1958" (until 1 September) belong to Roberto and Carlos Ramos, brothers who fled Castro's Cuba for Florida in 1992. Read more at: http://www.theartnewspaper.com/article.asp?id=7607

GLASGOW ART FAIR 2008  Thursday 27 MARCH UNTIL SUNDAY 30 MARCH 2008. The show has been firmly established as the UK's most prestigious contemporary art fair outside of London since its inception in 1996. A record of 46 selected galleries from Scotland will be exhibiting, the rest of the UK, Europe and beyond will be exhibiting work by over 1000 artists. Read more at: http://www.theartwolf.com/exhibitions/glasgow-art-fair-2008.htm

Art Funds Expand in Middle East, Asia as Hedge Against Slowdown 20^th March 08 (Bloomberg) -- In an attempt to weather an economic slowdown, art investment funds are expanding in emerging markets such as the Middle East, India and Asia.

New funds are being set up outside the U.S. and Europe with the dollar this month at its weakest .... About 60 percent of contemporary-art lots failed to achieve expected prices in London sales last month ... Read more at:

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aJcz9abdNwFQ

Take a second look at that signed Picasso print you bought on eBay. 20th March 08, Reuters -- A ring of art counterfeiters has sold thousands of prints since 1999 bearing the forged signatures of Picasso, Miro, Dali and other famous artists to buyers around the world. "Thousands of people will learn they ... bought a fake," said Chicago-based U.S. Attorney Patrick Fitzgerald ... Read more at:http://uk.reuters.com/article/stageNews/idUKN1933306820080322

The Cuban Art Revolution Wall Street Journal 22 March 08

Art collectors are betting 'the next hot art hub' will be an island most Americans still aren't able to visit. Now, before the market gets too crowded, some U.S. art lovers are finding legal ways into Cuba to shop for works. Read more at:

http://online.wsj.com/article/SB120613745916555929.html?mod=at_leisure_main_reviews_days_only