Our daily round-up of news from the art world
Glasgow School of Art to be rebuilt | Tom Inns, the director of Glasgow School of Art, has announced that the school’s Mackintosh building will be rebuilt following a devastating fire in June, the Guardian reports. The 110-year-old building had undergone a £35m restoration following a smaller blaze in 2014, and was set to reopen next year. Inns stated that it remains to be seen how much of the building’s remaining structure will be reusable. The process of dismantling the building and removing dangerously unstable sections began on Tuesday afternoon. Scottish fire and rescue is currently leading an ongoing investigation into the cause of the second fire.
Russian billionaire Vladimir Scherbakov accused Swiss dealer of fraud | The Russian billionaire who accused Swiss dealer Thierry Hobaica of overcharging for artworks has been named as Vladimir Scherbakov, the founder of Russia’s second largest car manufacturer Avtotor, The Art Newspaper reports (via the Tribune de Genève). In late 2015 Scherbakov filed a fraud complaint which has recently been opened as a criminal case in Geneva. The Russian collector believed Hobaica had overcharged for paintings and even hidden the real prices in his accounts. The artworks in question are each worth tens of millions of euros with the total collection reportedly valued at €700m. Court documents reveal that Hobaic made €38m in commissions on his sales to Scherbakov using various off-shore companies.
Praemium Imperiale art prizes announced | The Japan Art Association today announced the recipients of this year’s Praemium Imperiale Awards. Among them is Belgian artist Pierre Alechinsky, Japanese sculptor and video artist Fujiko Nakaya and French architect Christian de Portzamparc. A prize of 15m Yen (approximately £100,000) will be awarded to each of the five Laureates with a ceremony taking place in Japan this October. A further 5m Yen has been awarded to the British education charity Shakespeare Schools Foundation as the Grant for Young Artists. The Praemium Imperiale Awards have been given annually by the imperial family of Japan since 1989, recognising the categories of Painting, Sculpture, Architecture, Music and Theatre/Film that are neglected by the Nobel Prize.
Fire breaks out at Paula Cooper Gallery in New York | A fire broke out late yesterday morning at Paula Cooper Gallery in Chelsea, New York. The fire was contained within an hour with no injuries, according to artnet. The second floor space at 521 West 21st Street which was affected by the fire is a storage facility for dealer Paula Cooper. The cause of the blaze is believed to be electrical but will be further investigated by the fire marshal. It remains unclear if any art was damaged or how much repair the building will require.