Latest news with #artmarket
Yahoo
5 hours ago
- Business
- Yahoo
EXCLUSIVE: Pharrell Williams' Joopiter Auction Platform Launches Marketplace
INSTANT GRATIFICATION: Pharrell Williams' Joopiter platform is joining the ranks of auction houses that are countering the downturn in the art market by ramping up their offer of pre-owned luxury items and prestige collectibles for instant purchase. The auction site, which sells items belonging to the music star and his A-list circle, said on Wednesday it was launching Joopiter Marketplace with items from the archives of five collectors: Williams, artist Tom Sachs, jeweler Lorraine Schwartz, entrepreneur and gallerist Easy Otabor and music executive Steven Victor. More from WWD Pharrell and Pusha T Help Louis Vuitton Celebrate 'Paris to Miami' in the Miami Design District Hermès Hikes Prices in the U.S. How Zendaya and Anna Sawai Accidentally Twinned in Tailored White Suits at 2025 Met Gala: 'Great Minds' 'Over the past three-and-a-half years, Joopiter has built an incredibly loyal following of collectors through our auctions who are also hungry for a proposition that's more instant,' John Auerbach, chief executive officer of Joopiter, said in a statement first shared with WWD. 'We've built Joopiter Marketplace to meet this demand, expand our community, and introduce sought-after items that only Joopiter can bring to market,' he added. Highlights of the inaugural selection include a black version of Williams' signature Vivienne Westwood Buffalo hat, priced at $630; his customized black Timberland boots, selling for $4,200, and a sample white Billionaire Boys Club polo shirt identical to the one the singer wore in the video for his 2003 single 'Frontin'' – $735, with stains included. Reflecting the growing and diverse market for prestige collectibles, the site offers art, sneakers, streetwear and limited-edition objects. Handbag collectors are likely to make a beeline for Schwartz's Hermès Ostrich Tri-Color Birkin 35 with Palladium Hardware, on offer for $36,900. Alongside a selection of her own designs, she's letting go of some jewelry from the collection of Elizabeth Taylor, including a matching bracelet and necklace featuring cultured and freshwater pearls with gold cherubs designed by Beverly Hills jeweler William Ruser. 'Elizabeth Taylor loved her jewels and she actually told her life through jewels, which was unbelievable. So after she passed, I went to the auction. I bought so much stuff because it was my connection to her,' Schwartz said. Otabor, who was an operator and buyer for RSVP Gallery, the Chicago concept store cofounded by Don C and the late Virgil Abloh, has included a RSVP Gallery x Off-White x Nike T-shirt priced at $285, among pieces linked to the late Off-White founder and head of menswear at Louis Vuitton. Proceeds from these items will benefit both the Rebuild Foundation founded by artist Theaster Gates and the Virgil Abloh Foundation, supporting community-focused creativity and education, Joopiter said. In the pipeline are items from the collections of Kenzo creative director Nigo; Sarah Andelman, the founder of consulting agency Just an Idea and previously the purchasing and image director of landmark boutique Colette; producer and DJ Pedro Winter; model and musician Soo Joo Park, and Hermès collector Jane Angert, aka Janefinds, among others. 'Joopiter was founded to not only introduce a new voice into the auction landscape, but to recalibrate what it means to be a collector. With Joopiter Marketplace, we are bolstering our founding principles by expanding our ecosystem. We are excited to bring these objects to the world,' said Williams, who succeeded Abloh as Vuitton's creative director of menswear. Best of WWD Celebrities Wearing Zara: From Melania Trump's Controversial Coat to Kate Middleton's Blazer Collection [PHOTOS] The Stories Behind Audrey Hepburn's Wedding Dresses and What Happened to the Gown That Never Made It Down the Aisle La La Anthony's Style Through the Years: Met Gala Looks, MTV Days and More Photos
BreakingNews.ie
4 days ago
- Business
- BreakingNews.ie
BBC Bargain Hunt expert jailed over art sales to ‘Hezbollah financier'
A BBC Bargain Hunt art expert who failed to report a series of high-value art sales to a man suspected of financing militant group Hezbollah has been jailed for two-and-a-half years. Oghenochuko Ojiri, 53, sold artwork worth around £140,000 (€166,191) to Nazem Ahmad, a man designated by US authorities as a suspected financier for the Lebanese organisation. Advertisement Ojiri, of Brent, north London, previously pleaded guilty to eight offences under section 21A of the Terrorism Act 2000. He is believed to be the first person to be charged with the specific offence. One of the invoices Oghenochuko Ojiri sent to Nazem Ahmad (Metropolitan Police/PA) The art dealer, who has also appeared on the BBC's Antiques Road Trip, was charged with failing to disclose information about transactions in the regulated art market sector on or before dates between October 2020 and December 2021. US prosecutors say Mr Ahmad was a 'major Hezbollah financial donor' who used high-value art and diamonds to launder money and fund the group. He is accused of evading terrorism sanctions by using front companies to acquire more than 160 million dollars (£120 million) in artwork and diamond services. Advertisement Oghenochuko Ojiri has been jailed (Metropolitan Police/PA) Following the introduction of new money laundering regulations in January 2020 that brought the art market under HMRC supervision, Ojiri is said to have discussed the changes with a colleague, indicating awareness of the rules. The court previously heard the total value of the artwork sold was around £140,000. The defendant was, at the relevant time, the owner and operator of Ramp Gallery – latterly Ojiri Gallery, Lyndon Harris, prosecuting, said. Mr Ahmad is understood to be based in Beirut, the court heard. Advertisement Mr Harris said: 'The defendant engaged in discussions with and sales over a 14-month period with Nazem Ahmad and his associates, selling art to the value of £140,000 over that period.' The court previously heard the total value of the artwork sold was around £140,000 (Met Police/PA) The defendant knew Mr Ahmad had been sanctioned in the US, a previous hearing was told. Ahmad's phone number was saved on Ojiri's phone as 'Moss', the court heard. '(It) appears to have been a name deliberately chosen to disguise Mr Ahmad as being one of his contacts,' the prosecutor said. Advertisement He added that Ojiri was warned by others about his conduct 'but proceeded to engage in dealings with Ahmad in any event'. Gavin Irwin, defending, said Ojiri was arrested while filming a BBC TV programme. He said: 'He has lost the work he loves. He was arrested while filming a BBC television programme. 'He has already lost, of course, his good name, he was until recently a man of good character.' Advertisement He said the defendant had been 'naive' in relation to his participation in Ahmad's art market, but that he was 'preyed on by more sophisticated others'. Mr Irwin also said the defendant has lost his business, accepted that he had done wrong and wanted to 'apologise for undermining trust in the industry' and also to 'apologise for the distress that he has caused principally to those who know him, who love him, but also those who have supported him throughout his career'. Mrs Justice Cheema-Grubb sentenced Ojiri to two years and six months in prison at the Old Bailey on Friday, with a further year to be spent on licence. She told Ojiri he had been involved in a commercial relationship 'for prestige and profit', and that he had been 'seeking the kudos of dealing with an eminent name in the dealing world'. She added: 'You knew about Ahmad's suspected involvement in financing terrorism and the way the art market can be exploited by someone like him.' Mrs Justice Cheema-Grubb said that until these events he was 'someone to be admired' and added 'this is the nadir – there is one direction your life can go and I am confident that you will not be in front of the courts again.' The judge said the offences were so serious that only a custodial sentence can be justified. Commander Dominic Murphy, head of the Met's Counter Terrorism Command, said: 'The prosecution, using specific Terrorism Act legislation is the first of its kind, and should act as a warning to all art dealers that we can, and will, prosecute those who knowingly do business with people identified as funders of terrorist groups. 'Oghenochuko Ojiri wilfully obscured the fact he knew he was selling artwork to Nazem Ahmad, someone who has been sanctioned by the UK and US Treasury and described as a funder of the proscribed terrorist group Hizballah. 'Financial investigation is a crucial part of the counter terrorism effort. A team of specialist investigators, analysts and researchers in the NTFIU work all year round to prevent money from reaching the hands of terrorists or being used to fund terrorist attacks.' Bethan David, head of the CPS Counter Terrorism Division, said: 'It is clear that Oghenochuko Ojiri was aware of new money laundering regulations in the art world and that he had knowledge of Nazem Ahmad's background. 'Ojiri engaged in activity designed to conceal the identity of the true purchaser by changing the details on invoices and storing Mr Ahmad's name under a different alias in his mobile phone. 'His motivation appears to be financial along with a broader desire to boost his gallery's reputation within the art market by dealing with such a well-known collector.' Ojiri has appeared on a number of BBC shows including Bargain Hunt and Antiques Road Trip as a freelance presenter and is understood not to have worked on BBC programmes since 2023. He described himself as 'absolutely obsessed' with collecting contemporary art in a BBC Q&A. He has previously worked as an auctioneer and is known for championing African and European contemporary art. Hezbollah is a Shia Islamist political and militant group based in Lebanon, backed by Iran and known for its armed resistance against Israel. In the UK, the entire organisation – both its military and political wings – has been banned as a terrorist group since 2019.
The Independent
4 days ago
- The Independent
Picasso and Warhol paintings belonging to ‘Hezbollah financier' to be sold
Two paintings by Pablo Picasso and Andy Warhol, previously owned by a wealthy art collector suspected of financing Hezbollah, are set to be sold, with the proceeds being reinvested into the police, according to Scotland Yard. The artworks were seized from Nazem Ahmad, who has been designated by US authorities as a suspected financier for the Lebanese organisation. Hezbollah has been banned as a terrorist group in the UK since 2019. Mr Ahmad, based in Lebanon, was sanctioned by the UK Government under counter-terrorism rules in 2023. BBC Bargain Hunt art expert Oghenochuko Ojiri, 53, sold artworks worth around £140,000 to Mr Ahmad and failed to report the sales. Ojiri was arrested in Wrexham, North Wales, on April 18 2023, the same day the Government announced sanctions against Mr Ahmad, and on Friday was jailed for two-and-a-half years for eight offences under section 21A of the Terrorism Act 2000. After Ojiri, of Brent, north-west London, was sentenced, the Metropolitan Police revealed that in 2023 they had obtained a warrant to seize several artworks belonging to Mr Ahmad which were kept in two warehouses in the UK. The artworks, including a Picasso and Andy Warhol paintings, were seized on May 4 2023. Later that year, the National Terrorist Financing Investigation Unit got a forfeiture order which allowed it to seize the artworks. Valued at almost £1 million, the pieces are due to be sold, officers said, and the money will be used by the police, the Crown Prosecution Service and the Home Office. The full set of Andy Warhol's Flowers was sold at auction for 2.3 million dollars (£1.7 million) on April 19 2023, according to Christie's website. Bethan David, head of the CPS Counter Terrorism Division, said: 'It is clear that Oghenochuko Ojiri was aware of new money laundering regulations in the art world and that he had knowledge of Nazem Ahmad's background. 'Ojiri engaged in activity designed to conceal the identity of the true purchaser by changing the details on invoices and storing Mr Ahmad's name under a different alias in his mobile phone. 'His motivation appears to be financial along with a broader desire to boost his gallery's reputation within the art market by dealing with such a well-known collector.' Ojiri has appeared on a number of BBC shows including Bargain Hunt and Antiques Road Trip. He described himself as 'absolutely obsessed' with collecting contemporary art in a BBC Q&A. He has previously worked as an auctioneer and is known for championing African and European contemporary art.
The Guardian
4 days ago
- Business
- The Guardian
Bargain Hunt expert jailed for offences under Terrorism Act
A BBC Bargain Hunt art expert who failed to report a series of high-value art sales to a man suspected of financing the militant group Hezbollah has been jailed for two and a half years. Oghenochuko Ojiri, 53, sold artworks worth a total of about £140,000 to Nazem Ahmad, a man designated by US authorities as a suspected financier for the Lebanese organisation, a court hearing was told last month. Ojiri, of Brent, north London, previously pleaded guilty to eight offences under section 21a of the Terrorism Act 2000. He is believed to be the first person to be charged with the specific offence. The art dealer, who has also appeared on the BBC's Antiques Road Trip, was charged with failing to disclose information about transactions in the regulated art market sector on or before dates between October 2020 and December 2021. US prosecutors say Ahmad was a 'major Hezbollah financial donor' who used high-value art and diamonds to launder money and fund the group. Ahmad is accused of evading terrorism sanctions by using front companies to acquire more than $160m (£120m) in artwork and diamond services. After the introduction of new money-laundering regulations in January 2020 that brought the art market under HMRC supervision, Ojiri is said to have discussed the changes with a colleague, indicating awareness of the rules. The court previously heard the total value of the artworks sold was about £140,000. Mrs Justice Cheema-Grubb sentenced Ojiri to two years and six months in prison at the Old Bailey on Friday, with a further year to be spent on licence.
The Independent
4 days ago
- Business
- The Independent
Bargain Hunt expert jailed for failing to report art sales to ‘Hezbollah financier'
A BBC Bargain Hunt art expert who failed to report a series of high-value art sales to a man suspected of financing militant group Hezbollah has been jailed for two-and-a-half years. Oghenochuko Ojiri, 53, sold artwork worth around £140,000 to Nazem Ahmad, a man designated by US authorities as a suspected financier for the Lebanese organisation, a court hearing was told last month. Ojiri, of Brent, north London, previously pleaded guilty to eight offences under section 21A of the Terrorism Act 2000. He is believed to be the first person to be charged with the specific offence. The art dealer, who has also appeared on the BBC's Antiques Road Trip, was charged with failing to disclose information about transactions in the regulated art market sector on or before dates between October 2020 and December 2021. US prosecutors say Mr Ahmad was a 'major Hezbollah financial donor' who used high-value art and diamonds to launder money and fund the group. He is accused of evading terrorism sanctions by using front companies to acquire more than 160 million dollars (£120 million) in artwork and diamond services. Following the introduction of new money laundering regulations in January 2020 that brought the art market under HMRC supervision, Ojiri is said to have discussed the changes with a colleague, indicating awareness of the rules. The court previously heard the total value of the artwork sold was around £140,000. Mrs Justice Cheema-Grubb sentenced Ojiri to two years and six months in prison at the Old Bailey on Friday, with a further year to be spent on licence.
