Contemporary Italian artist Lorenzo Quinn’s sculpture of an eye sold at The Global Gift Gala for US$55,000 last night. Quinn, who is the son of the actor Anthony Quinn, is a leading figurative sculptor best known for expressive recreations of human hands. “I wanted to sculpt what is considered the hardest and most technically challenging part of the human body,” he asserts. “The hand holds so much power – the power to love, to hate, to create, to destroy.”
The sculpture of an eye was donated to the gala, which was part of Dubai International Film Festival’s programme. Proceeds from the sale are planned to the UAE-based philanthropic organisation Dubai Cares and The Global Gift Foundation, Eva Longoria Foundation and Sunrise K’ Foundation as charity beneficiaries in support of their humanitarian efforts worldwide, with the support Mashreq Private Banking.
What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
It is thought that graphene could boost the useful life of batteries by 10 per cent.
Graphene can also detect cancer cells in the early stages of the disease.
The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
