The Luma Foundation, with its gleaming, twisting stainless steel tower designed by the renowned Canadian American architect Frank Gehry, opened in Arles in the south of France last weekend. The ...

That’s a question to which there are answers aplenty. Artists are largely unable to benefit from the skyrocketing prices of their work after an initial sale, while flippers can make out like bandits.

“A question that pops up regularly is, ‘Why a tower?’,” preemptively declared billionaire Swiss pharmaceutical heiress Maja Hoffmann at the inauguration of the latest addition to her $175 million LUMA ...