Page 14 - september-23

WORLD MARKETPLACE NEWS with Managing Editor Judy Gonyeau

ECOMMERCEBYTES – Amazon sellers in Europe are the latest to REUITERS – The United States has
battle high reserves, which is the amount of money marketplaces hold returned more than 250 ancient artifacts
back in reserve when disbursing funds to sellers, which marketplaces do worth millions of dollars to Italy after
to manage their risk. learning that they had been stolen and sold
Etsy sellers in the during the late 1990s by an international
UK had protested network of artifact smugglers. The 266
loudly about high precious artifacts include pots, paintings and
reserves and saw sculptures – some up to 3,000 years old.
limited relief after Several of the mosaics are worth tens of
getting mainstream media attention. Amazon moved to a “delivery millions of Euros. The oldest item dates back
date based” reserve policy that it acknowledged would result in sellers to the 9th century BC. In a statement, the
experiencing what it called a “one-time cash flow disruption.” After Italian culture ministry said that 145 pieces
the policy got attention in the media, Amazon said it would delay the were recovered as part of the bankruptcy
policy – but only until January, according to the BBC. against an antiquity dealer in the U.S. Another 65 artifacts were found
at the Menil Collection museum in Houston, Texas. In June, Italy
recovered more of their previously looted antiquities from London.
SCOOP.COM – On Tuesday,
June 27, 2023, ten high value key
comic books were stolen from ROBB REPORT – T. Kimball Brooker has amassed more than
Comic Book Station, located at 188 1,000 books over the past 60 years, but now he is ready to hand them
Eckford Street in Brooklyn, New on to someone new. The scholar is auctioning off his comprehensive
York. The comics were stolen from collection of Renaissance tomes in
in front of the store. FedEx eight auctions at Sotheby’s this
delivered a box of comics and since fall. The haul is expected to
the shipper did not indicate achieve in excess of $25 million.
that a signature was required for The collection includes more than
delivery, the delivery person left 1,300 16th-century French and
the box outside of the front door Italian books in their original bind-
of the store near the sidewalk, ings and the largest collection of editions from the renowned Aldine
rather than taking them inside. Press (established in Venice in 1494) – the thousand or so Aldine
The thief then stole them from rarities were published from the 1490s to the 1590s. The auctions
their location outside. will kick off on October 12 with a dedicated sale at Sotheby’s New
York. The books will be on display at the York Avenue galleries from
October 5 to 11. The rest of the auctions will take place in New York
YAHOO NEWS – A stunning chandelier bought for $300 at a and London through 2025.
London antique store proved to be worth a lot more when it was
recently sold at a Christie’s auction. The chandelier, a unique piece
by renowned Swiss sculp- ARTDAILY – A poignant life-size statue of a wounded American
tor Alberto Giacometti, Indian, long the subject of a tug of war between a Virginia museum
was recognized by British named for Walter P. Chrysler and a Boston organization founded by
painter John Craxton Paul Revere, will be sent back to Boston in the wake of an investigation
when he first passed by it by the FBI. Known simply as The Wounded Indian, the statue was
in 1960. When Craxton sculpted from a single block of white Vermont marble by Peter
passed away in 2009, the Stephenson, who complet-
chandelier made its way ed the work in 1850. The
from his home in North Massachusetts Charitable
London to being auc- Mechanic Association,
tioned by his estate. (MCMA) kept it on display
Christie’s sold the chande- in a massive, castle-like
lier for over $3.5 million. civic center in Boston from
1893-1958, when the prop-
erty was sold and MCMA
BBC.COM – About a third of all buildings in the country of Wales was told the statue was
were built before 1919, many of those made of stone. Many could destroyed in the moving of inventory. In 1999, MCMA discovered the
be lost through “ignorance and a lack of skills,” said statue was on display at the Virginia museum, and negotiations did not
Carmarthenshire council’s Nell Hellier. “We have half a million tra- go as well as expected, staying at a standoff until recent months when
ditional buildings in Wales. We MCMA began applying pressure on the museum by contacting The
need traditional building skills to Washington Post, which wrote about the dispute, and the FBI’s Art
repair them,” said Ms. Hellier. Crime Team, which began an investigation this year. The museum
“We’re not just talking about our soon agreed to hand back the sculpture, which will return to Boston by
cathedrals and big, smart architec- the end of August. Shipping fees are estimated at $30,000.
ture, we’re also talking about ter-
raced houses and farmsteads across
the country.” Despite Wales having NEW YORK CITY – Tapestry, the fashion company that owns Coach
thousands of stone buildings, “there and Kate Spade, has acquired Capri Holdings, the parent of Versace
isn’t a single college in Wales and Michael Kors, for about $8.5 billion in cash, as consolidation in the
teaching stonemasonry. We have an luxury market gathers pace. Combined, the two groups would generate
enormous amount of work to do.” about $12 billion in revenue; they will operate under the name Tapestry.

12 Journal of Antiques and Collectibles