The $30 million restoration of the Colosseum financed by Diego Della Valle – the founder of luxury leather good maker Tod’s – will begin in December.

The restoration of the Colosseum will last two and a half years and the ancient monument, which is one of the most visited sites in the world, will be covered in scaffolding but will be accessible to the public throughout.

Andrew Lewicki knows that people have gotten used to seeing luxury brands extend their influence into other industries.

From bicycles to tennis, rugby, football and golf balls, not to mention every kind of object and gadget, luxury brands have left their stamp on a multitude of products.

This time, fashionistas who are already dreaming of soft, yummy, branded waffles in the morning will have to wait, as this branded waffle maker is not for sale.

Internationally renowned British artist Damien Hirst has created an art piece for a London restaurant in which a whole Hereford cow and cockerel are preserved in formaldehyde in a steel and glass tank, smack dab in the middle of the dining room.

Called “Cock and Bull,” the showpiece towers four meters above diners at Tramshed which –  surprise — serves only steak and whole roasted chicken.

France’s Palace of Versailles is continuing its series of contemporary art exhibitions this year with works by Portuguese contemporary art painter Joana Vasconcelos, displayed both inside and outside the Chateau from June 19 to September 30, 2012.

Mark Rothko’s 1961 oil painting, ‘Orange, Red, Yellow’, set a new auction record for post-war art on Tuesday at an “unprecedented” Christie’s sale.

The large-scale work soared to $86.9 million,  eclipsing the $86.3 million paid for Francis Bacon’s Triptych in 2008 as the most expensive post-war artwork at auction.

The only privately owned version of Edvard Munch’s “The Scream” set a world record Wednesday when it sold for $119.9 million at Sotheby’s in New York.

Heated competition between seven bidders took the price to the highest for a work of art at auction in just 12 minutes, sparking applause.

The previous record was held by Picasso’s Nude, Green Leaves, and Bust which sold in 2010 for $106.5 million.