Art World Affected by Banking Scandal

The International Consortium of Investigative Journalists (ICIJ) reports that Swiss bank HSBC may have helped their wealthy clients hide billions of dollars so they can avoid taxes. Various artists have been named in this scandal, including sculptor Anish Kapoor, painter Howard Hodgkin, artist Richard Price and more.

Suzanne Weaver as stepped down as the interim director of Miami's new Institute of Contemporary Art.

According to reports, collector and author, Adam Lindemann, says: "The unspoken truth is that a reliable resale market for art does exist, but only for certain very famous or very trendy artists at any given point in time."

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