News Recap: October 16, 2015

A weekly recap of art world news.

Tintype of Billy the Kid

$2 Junk Shop Photo of Billy the Kid Worth $5,000,000
In 2010 Randy Guijarro purchased an old tintype from a junk store in Fresno, California for $2.00. Recently, the Western American experts Kagin’s verified that the 4x5 tintype was made in 1878 and depicts the famous outlaw Billy the Kid and members from his gang, The Regulators, playing croquet after a wedding. The photograph was investigated over the course of one year and has been deemed the second authenticated picture of Billy the Kid and valued at $5,000,000.
Read the full story (Kagin’s)

Artist Turns Run-Down Bank Into a Chicago Cultural Center
In 2012 Chicago artist Theaster Gates Jr. purchased the Stony Island Savings & Loan building from the city of Chicago for one dollar. Since then, Gates has raised funds to revive the 100-year-old decrepit structure. On October 6, the building opened to the public. Renamed Stony Island Arts Bank, it now houses art installations, artists, cultural history archives, and a non-profit organization called Rebuild Foundation.
Read the full story (Mental Floss)

Influential Photographer Hilla Becher Dies at 81
Famed German photographer Hilla Becher passed away from a stroke on Oct 10 in Düsseldorf at the age of 81. Hilla and her husband Bernd (who passed away in 2007) made meticulous photographic documents of industrial structures including coal minds, steel mills, and water towers. With an 8x10 camera, the Bechers created large typologies of these industrial landscapes for which they became known. This emotionless style of photography developed into a school of thought dubbed “The Düsseldorf School” and influenced other German photographers including Andreas Gursky, Candida Höfer, Thomas Ruff, and Thomas Struth.
Read the full story (New York Times)