Function Magazine

Art, Fashion and Entertainment

Archive for October, 2014

Sotheby’s will be holding a planned auction of art of the estate of Rachel Lambert Mellon, better known as “Bunny” Mellon, in early November 2014. The auction will include 43 pieces of art work from various artists including Mark Rothko, Paul Seurat, David Nahmad, Richard Diebenkorn, and many others collected by the reclusive billionaire couple. Mark Rothko pieces will include 1955 “Untitled (Yellow, Orange, Yellow, Light Orange).” “Ocean Park” from Richard Diebenkorn and many works of Nicolas de Stael will also be included in the auction and expected to be sold at higher prices. Proceeds from the auction expected to go to the Gerald B. Lambert Foundation. Sotheby’s expect to collect $120 million from the art auction. Many pieces have been concealed from public eye for many decades.

Paul Mellon died in 1999 and the widow “Bunny” Mellon died at the age of 103 in March 2014. Together they spent decades collecting art using the fortune they inherited from the grandfather who inventor of Listerine and the father who was a banker. The couple was the founders of the Yale Center British Art. They also donated many pieces to the National Gallery of Art in Washington D.C.

America’s Funniest Home Videos (AFHV) turns 25

Posted by elegant On October - 15 - 2014

The reality television series on ABC that started on November 26, 1989 will reach 25 years in November 2014. Since January 1990, funny AFHV is a weekly staple with American families. According to Nielsen, it is the No. 1 family viewing during the last summer season just doing the re-runs. Since its inception, Vin Di Bona produces the show. Hosts of the show over the years include Bob Saget, John Fugelsang, Daisy Fuentes, and the current host Tom Bergeron.

Who can forget the piano playing chickens, backyard trampoline mishaps, cutely misbehaving cats, denture-losing grandmas and many others? The show continues to provide laughs for families that enjoy unexpected. There are no limits to the continuously flowing hilarious videos from viewers. Some are more creative while others are more spontaneous.

YouTube is a formidable contender for AFHV lately and many expected that it will bring death nail to the show. However, often time we can see many of AFHV clips are being glorified over the Internet on YouTube. Instead, the new found love affair with video clips is bringing new customers to watch AFHV. In future telecasts, YouTube video stars are expected to appear on AFHV episodes.

Ever increasing art market

Posted by elegant On October - 3 - 2014

The estimated value of the art market is approximately $66 billion a year. The global outlook for 2014 is extremely bullish. Hedge funds and various other vehicles create funds valued at $1.3 billion a year to buy and sell art. According to an article in Barron’s, there are 72 global art funds of which 55 located in China and others in the West including Europe and the United States. More and more millionaires and billionaires are buying art pieces and there are more than 32 million millionaires in the world.

Most of the high value contemporary and postwar pieces are sold in New York at dealers and auctions. But sales are not limited to the US and people from Asia and Latin America are buying in New York too.

The U.S. is the dominant player in the art market. China in second place accounts for more than 24 percent of the market followed by the United Kingdom which accounts for 20 percent. China is the largest emerging market for art sales in the world lately. Today it is the second largest market behind the United States. One of the problems auctioneers are faced with Chinese customers is late or non-payment by the winning Chinese bidders.

Lion King, the musical sets a new record

Posted by elegant On October - 1 - 2014

Walt Disney Pictures’ The Lion King movie came out on June 15, 1994 and the animated movie made history as the highest grossing movie released in 1994. It was the 32nd animated feature film for the Walt Disney Animated Classics and earned more than $987 million by 2011 making it the highest grossing movie in the history behind Avatar which collected more than $2.8 billion world-wide. Research for the movie carried out in the jungles of Hell’s Gate National Park in Kenya.

Now The Lion King the Musical is also making history of its own. The musical is based on the movie that bears the same name. It follows the journey of Simba, born to animal royalty. He overcomes the evil uncle with the help of his jungle friends and claims the crown he deserves. The musical features songs by Elton Jones and is directed by Julie Taymor. With over $6.2 billion box office earnings world-wide, it is the best-selling stage version show as of the end of September 2014. The musical started in Broadway in 1997 and started going around the world soon after. It surpassed the previous record of $5.6 billion set by Andrew Lloyd Webber’s The Phantom of Opera.