The Australian Financial Review has news of an interesting new strategy at Menzies, the Melbourne auctioneer. Acknowledging the torpid state of the Australian art market since the global financial crisis despite some boom times in Australia’s economy, AFR reports that Menzies will be looking to acquire works in New York that it hopes to arbitrage in Australia.
The first work is an abstract by Fernand Leger, Chinatown that Menzies has offered before and will offer again this month:Continue Reading