Australia Briefing: The Super Fund Art Sale

Deutscher and Hackett's gallery: “Friendly Country, Friendly People: Art from Papunya Tulu.” The collection is the final lot to be sold by the Construction and Building Unions Superannuation Fund in Australia, this time via online auction.

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October 17, 2022 at 9:26 PM UTC

Good morning, it's Jackie here in Sydney. A series of auctions is raising questions about what role financial institutions should play in supporting local art scenes. But first...

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Art of the deal. Some of Australia and New Zealand’s biggest financial institutions are selling down their vast art collections after decades of holding works of the region’s best-known painters. Cbus will auction the last of about 300 pieces, with the final tranche featuring about two dozen Indigenous artists. The sale comes as super funds face heightened scrutiny of their balance sheets.