What the Panama Papers Reveal About the Art Market

The New York Times | Scott Reyburn:

The so-called Panama Papers — the leak of 11.5 million files from the Panamanian law firm Mossack Fonseca — have given us a deep look into the many ways offshore shell companies are used to conceal the ownership of art. Leaked initially to Süddeutsche Zeitung, a German newspaper, the documents have been pored over by a consortium of journalistic outlets, which released a series of articles last week, several about the art market… Read more

Image: Picasso’s 1955 “Women of Algiers (Version ‘O’),” from the collection of Victor and Sally Ganz, sold for $31.9 million in 1997, and sold at Christie’s last year for $179.4 million. Credit Darren Ornitz/Reuters