It’s one of the more unusual deals in the art world. After more than a decade, an Alberta businessman has finally found a buyer for his prized collection of gold castings of Nelson Mandela’s hand.
The final price? $10 million - in bitcoin.
Attempts by Malcolm Duncan, formerly of South Africa, to sell the hands back in 2007 were scuppered by controversy over provenance and a possible missing charitable donation. This time he’s had better luck, albeit with an unusual buyer.
Little information is available about Arbitrade, an Ontario-based cryptocurrency company, something its chairman Len Schutzman says is about to change.
The company is “weeks away” from doing an initial coin offering and is building a facility in Waterloo, Ontario, to mine its own cryptocurrencies and plans to trade others. Its key selling point, he says, is that it will back all its virtual coins with some percentage of physical metal - including gold.
Nelson Mandela’s solid gold hand would seem to fit the bill, although as a general rule Mr Schutzman says he’ll seek to acquire gold bars or coins rather than art. Weighing 20 pounds, the value of the gold is a fraction of the artefacts’ purchase price. Their real value is one of publicity, as a means of educating millennials about Mandela - and Arbitrade - through a global “Golden Hands of Nelson Mandela” tour the company plans to launch, he says.
The hands aren’t the first examples of “Mandela Art” to prove tricky to buyers and sellers. After the anti-apartheid revolutionary was released from prison, thousands of pieces of art bearing his name began flooding the market. Various scandals, including allegations of forgery, put a stop to the deluge.
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Under Mandela’s own orders, many works were destroyed and the subject remains a touchy one in South Africa to this day. Mr Duncan believes he owns the only four surviving casts of Mandela’s hand, palm and fist, tucked into bespoke wood boxes. “He cut his thumb quite badly on Robben Island, his right thumb, and you can see it,” M Photographs show Mandela sitting for the castings, which were made by a defunct division of Harmony Gold Mining in 2002. As a condition of being allowed to buy the artefacts, Mr Duncan says he paid double the 1.8 million-rand (Dh568m) purchase price with the understanding Harmony would give half to Mandela’s charities. Whether that happened remains unclear. Harmony has “supplied Mr Duncan with the necessary paperwork verifying the provenance as requested by his attorneys”, Harmony Investor Relations Manager Lauren Fourie said, declining to comment further when asked about the status of the donation. So far, Mr Duncan has been paid a bitcoin deposit that has been converted to $50,000. The rest is due to be delivered in quarterly instalments of at least $2m per extremity, starting April 30. “They take possession when I have the dollar amount in the bank,” says Mr Duncan, who has insisted Arbitrade guarantee the value in US dollars, and handle the conversion. “At two-and-a-quarter million at a time, they take one hand at a time.” Favourite book: Men are from Mars Women are from Venus Favourite travel destination: Ooty, a hill station in South India Hobbies: Cooking. Biryani, pepper crab are her signature dishes Favourite place in UAE: Marjan Island Sholto Byrnes: Here's how this century can still belong to Asia Brahma Chellaney: South China Sea is Asean's Achilles heel The National Editorial: Territorial disputes require a mediator National Editorial: World trade has started to look inwards Callum Patton: ‘Arrival of Asian century’ has eclipsed US Robin Mills: Importance of China's energy markets clearer Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area. Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items. A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale. - An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico - A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000 - A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950 All games 6pm UAE on Sunday: 1. Black holes are objects whose gravity is so strong not even light can escape their pull 2. They can be created when massive stars collapse under their own weight 3. Large black holes can also be formed when smaller ones collide and merge 4. The biggest black holes lurk at the centre of many galaxies, including our own 5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed • Remittance charges will be tackled by blockchain • UAE's monumental and risky Mars Mission to inspire future generations, says minister • Could the UAE drive India's economy? • News has a bright future and the UAE is at the heart of it • Architecture is over - here's cybertecture • The National announces Future of News journalism competition • Round up: Experts share their visions of the world to come Warlight, Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework? Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality The National Editorial: Is there much to celebrate on International Women's Day 2021? Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus' More than 2.2 million Indian tourists arrived in UAE in 2023 Starring: Ramy Youssef, Steve Carell, Jason Schwartzman Director: Jesse Armstrong Rating: 3.5/5 Monday, January 28 Tuesday, January 29 Friday, February 1 Rasmi Ragy is a senior counsel at Charles Russell Speechlys, a law firm headquartered in London with offices in Europe, the Middle East and Hong Kong. Experience: Prosecutor in Egypt with more than 40 years experience across the GCC. Education: Ain Shams University, Egypt, in 1978. GK: Alphonse Areola (youth academy) Defence - RB: Dani Alves (free transfer); CB: Marquinhos (€31.4 million); CB: Thiago Silva (€42m); LB: Layvin Kurzawa (€23m) Midfield - Angel di Maria (€47m); Adrien Rabiot (youth academy); Marco Verratti (€12m) Forwards - Neymar (€222m); Edinson Cavani (€63m); Kylian Mbappe (initial: loan; to buy: €180m) Total cost: €440.4m (€620.4m if Mbappe makes permanent move) Engine: 2-litre turbocharged Power: 254hp Torque: 390Nm Price: From Dh126,000 Available: Now When: The one-off Test starts on Friday, May 11 Al Hilal 4 Persepolis 0 Price, base / as tested: Dh155,000 / Dh205,000 Engine: 3.3-litre, turbocharged V6 Gearbox: Eight-speed automatic Power: 370hp @ 6,000rpm Torque: 510Nm @ 1,300rpm Fuel economy, combined: 10.6L / 100km Co-founders of the company: Vilhelm Hedberg and Ravi Bhusari Launch year: In 2016 ekar launched and signed an agreement with Etihad Airways in Abu Dhabi. In January 2017 ekar launched in Dubai in a partnership with the RTA. Number of employees: Over 50 Financing stage: Series B currently being finalised Investors: Series A - Audacia Capital Sector of operation: Transport 7pm Gates open 8pm Deansgate stage showing starts 9pm Parade starts at Manchester Cathedral 9.45pm Parade ends at Peter Street 10pm City players on stage 11pm event ends Iqbal Restaurant behind Wendy’s on Hamdan Street for the chicken karahi (Dh14) Pathemari in Navy Gate for prawn biryani (from Dh12 to Dh35) Abu Al Nasar near Abu Dhabi Mall, for biryani (from Dh12 to Dh20) Bonna Annee at Navy Gate for Ethiopian food (the Bonna Annee special costs Dh42 and comes with a mix of six house stews – key wet, minchet abesh, kekel, meser be sega, tibs fir fir and shiro). Al Habasha in Tanker Mai for Ethiopian food (tibs, a hearty stew with meat, is a popular dish; here it costs Dh36.75 for lamb and beef versions) Himalayan Restaurant in Mussaffa for Nepalese (the momos and chowmein noodles are best-selling items, and go for between Dh14 and Dh20) Makalu in Mussaffa for Nepalese (get the chicken curry or chicken fry for Dh11) Al Shaheen Cafeteria near Guardian Towers for a quick morning bite, especially the egg sandwich in paratha (Dh3.50) Pinky Food Restaurant in Tanker Mai for tilapia Tasty Zone for Nepalese-style noodles (Dh15) Ibrahimi for Pakistani food (a quarter chicken tikka with roti costs Dh16) • Remittance charges will be tackled by blockchain • UAE's monumental and risky Mars Mission to inspire future generations, says minister • Could the UAE drive India's economy? • News has a bright future and the UAE is at the heart of it • Architecture is over - here's cybertecture • The National announces Future of News journalism competition • Round up: Experts share their visions of the world to come Scores in brief: Develop an innovative business concept Have the ability to differentiate yourself from competitors Put in place a business continuity plan after Covid-19 Prepare for the worst-case scenario (further lockdowns, long wait for a vaccine, etc.) Have enough cash to stay afloat for the next 12 to 18 months Be creative and innovative to reduce expenses Be prepared to use Covid-19 as an opportunity for your business * Tips from Jassim Al Marzooqi and Walid Hanna Treaty of Friendship between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates The United kingdom of Great Britain and Northern Ireland and the United Arab Emirates; Considering that the United Arab Emirates has assumed full responsibility as a sovereign and independent State; Determined that the long-standing and traditional relations of close friendship and cooperation between their peoples shall continue; Desiring to give expression to this intention in the form of a Treaty Friendship; Have agreed as follows: ARTICLE 1 The relations between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates shall be governed by a spirit of close friendship. In recognition of this, the Contracting Parties, conscious of their common interest in the peace and stability of the region, shall: (a) consult together on matters of mutual concern in time of need; (b) settle all their disputes by peaceful means in conformity with the provisions of the Charter of the United Nations. ARTICLE 2 The Contracting Parties shall encourage education, scientific and cultural cooperation between the two States in accordance with arrangements to be agreed. Such arrangements shall cover among other things: (a) the promotion of mutual understanding of their respective cultures, civilisations and languages, the promotion of contacts among professional bodies, universities and cultural institutions; (c) the encouragement of technical, scientific and cultural exchanges. ARTICLE 3 The Contracting Parties shall maintain the close relationship already existing between them in the field of trade and commerce. Representatives of the Contracting Parties shall meet from time to time to consider means by which such relations can be further developed and strengthened, including the possibility of concluding treaties or agreements on matters of mutual concern. ARTICLE 4 This Treaty shall enter into force on today’s date and shall remain in force for a period of ten years. Unless twelve months before the expiry of the said period of ten years either Contracting Party shall have given notice to the other of its intention to terminate the Treaty, this Treaty shall remain in force thereafter until the expiry of twelve months from the date on which notice of such intention is given. IN WITNESS WHEREOF the undersigned have signed this Treaty. DONE in duplicate at Dubai the second day of December 1971AD, corresponding to the fifteenth day of Shawwal 1391H, in the English and Arabic languages, both texts being equally authoritative. Signed Geoffrey Arthur Sheikh Zayed Some facts about bees: The queen bee eats only royal jelly, an extraordinary food created by worker bees so she lives much longer The life cycle of a worker bee is from 40-60 days A queen bee lives for 3-5 years This allows her to lay millions of eggs and allows the continuity of the bee colony About 20,000 honey bees and one queen populate each hive Honey is packed with vital vitamins, minerals, enzymes, water and anti-oxidants. Apart from honey, five other products are royal jelly, the special food bees feed their queen Pollen is their protein source, a super food that is nutritious, rich in amino acids Beewax is used to construct the combs. Due to its anti-fungal, anti-bacterial elements, it is used in skin treatments Propolis, a resin-like material produced by bees is used to make hives. It has natural antibiotic qualities so works to sterilize hive, protects from disease, keeps their home free from germs. Also used to treat sores, infection, warts Bee venom is used by bees to protect themselves. Has anti-inflammatory properties, sometimes used to relieve conditions such as rheumatoid arthritis, nerve and muscle pain Honey, royal jelly, pollen have health enhancing qualities The other three products are used for therapeutic purposes Is beekeeping dangerous? As long as you deal with bees gently, you will be safe, says Mohammed Al Najeh, who has worked with bees since he was a boy. “The biggest mistake people make is they panic when they see a bee. They are small but smart creatures. If you move your hand quickly to hit the bees, this is an aggressive action and bees will defend themselves. They can sense the adrenalin in our body. But if we are calm, they are move away.” Leeds United 1 Manchester City 1 Man of the Match: Rodrigo Moreno (Leeds) Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework? Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus' The National Editorial: Is there much to celebrate on International Women's Day 2021? Mina Al Oraibi: Air strike casts a long shadow over the decade ahead Jack Moore: Why the assassination is such a monumental gamble Matthew Levitt: Iran retains its ability to launch terror attacks Damien McElroy: A CEO tasked with spreading Iran's influence Hussein Ibish: Trump's order on solid constitutional ground Simon Waldman: Cautious Israel keeping a low profile Tewellah by Nawal Zoghbi is out now. The National editorial: Turkey's soft power weighs heavy on Europe's Muslims Con Coughlin: How extremists use Zoom and other tools to exploit pandemic Nicky Harley: Peace TV preacher Zakir Naik prompts UK hate laws review Born: near Sialkot, Pakistan, 1981 Profession: Driver Family: wife, son (11), daughter (8) Favourite drink: chai karak Favourite place in Dubai: The neighbourhood of Khawaneej. “When I see the old houses over there, near the date palms, I can be reminded of my old times. If I don’t go down I cannot recall my old times.” England 353 and 313-8 dec Result: England won by 239 runs Engine: 4.0-litre V8 Power: 503hp at 6,000rpm Torque: 685Nm at 2,000rpm Transmission: 8-speed auto Price: from Dh850,000 On sale: now Samanth Subramanian: Imposing Hindi could undermine India's linguistic diversity Phil Mercer: Aboriginal musicians are struggling to be heard Gavin Esler: What we lose when we allow languages to die Job: CEO JCDecaux Middle East In the role: Since January 2015 Lives: In the UAE Background: M&A, investment banking Studied: Corporate finance Engine: 2.0-litre 4cyl turbo Power: 248hp at 5,200rpm Torque: 400Nm at 1,750-4,000rpm Transmission: 8-speed auto Fuel consumption: 9.1L/100km On sale: Now Price: From Dh149,900 Name: James Mullan Nationality: Irish Family: Wife, Pom; and daughters Kate, 18, and Ciara, 13, who attend Jumeirah English Speaking School (JESS) Favourite book or author: “That’s a really difficult question. I’m a big fan of Donna Tartt, The Secret History. I’d recommend that, go and have a read of that.” Dream: “It would be to continue to have fun and to work with really interesting people, which I have been very fortunate to do for a lot of my life. I just enjoy working with very smart, fun people.” Editorial: Turkey using refugees as mere pawns in a dangerous game Simon Waldman: Is Turkey creating another European migrant crisis? Raghida Dergham: Russia is weighing its options against Turkey This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home. Sunday, December 8, Sharjah Cricket Stadium – UAE v USA Monday, December 9, Sharjah Cricket Stadium – USA v Scotland Wednesday, December 11, Sharjah Cricket Stadium – UAE v Scotland Thursday, December 12, ICC Academy, Dubai – UAE v USA Saturday, December 14, ICC Academy, Dubai – USA v Scotland Sunday, December 15, ICC Academy, Dubai – UAE v Scotland Note: All matches start at 10am, admission is freeYou might also like
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Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.Khouli conviction
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.For sale
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.The%20specs
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