ART & AUCTION MAGAZINE MAY BE ON ARNAULT’S LVMH WISH LIST
Byline: Lisa Lockwood
NEW YORK — Bernard Arnault, chairman of LVMH Moet Hennessy Louis Vuitton, is said to be lining up another acquisition: Art & Auction, the New York-based magazine that covers the international art and auction world.
The magazine, which is published every other week, provides in-depth coverage of auction sales and previews international art and antique fairs and exhibitions. Art & Auction has a rate base of 17,500 and sells for $3.95 on the newsstand.
A U.S.-based spokesman for Arnault declined comment.
The magazine, which was founded 25 years ago by Daniel Zilkha, was later sold to Marshall and Maureen Kogen, and is now owned by ArtPress International Inc. ArtPress is headed by Robert Seeman, chairman; Richard Weissbrod, president, and Win McCormack, treasurer and secretary.
As reported, LVMH Group emerged victorious in April in its quest for Connaissance des Arts, the leading art journal in France, which had been sought by Arnault’s corporate rival, Francois Pinault.
Arnault had outbid Pinault for the prestigious fine-arts monthly with a paid circulation of about 38,000.
Sources close to the negotiations said LVMH paid about $3.7 million for the French title.
Both Art & Auction and Connaissance des Arts present an interesting fit with Arnault, given his recent forays into the auction business. Arnault owns Phillips auction house in London and more recently acquired France’s largest auctioneer, Etude Tadjan. Rival Pinault owns Christie’s.