Leslie Rankow Fine Arts

INTERNATIONAL ART ADVISORY SERVICE

The LRFA blog welcomes Meg Malloy, partner at Sikkema Jenkins & Co. gallery

Meg Malloy
Partner
Sikkema Jenkins & Co.

SIKKEMA JENKINS & CO. ENJOYS A LONG AND RESPECTED HISTORY IN THE CONTEMPORARY ART WORLD FOR DISCOVERING EMERGING ARTISTS WHO GO ON TO GAIN GREAT CRITICAL AND COMMERCIAL SUCCESS AND SUPPORTING ESTABLISHED CONTEMPORARY ARTISTS WHOSE CAREERS THEY NURTURE. LOCATED AT 530 WEST 22nd STREET IN THE WEST CHELSEA ARTS DISTRICT IN NEW YORK CITY, THE GALLERY WAS FOUNDED IN 1991 BY BRENT SIKKEMA AS WOOSTER GARDENS. BRENT SIKKEMA BEGAN HIS GALLERY WORK IN 1971 AT THE DIRECTOR OF EXHIBITIONS AT THE VISUAL STUDIES WORKSHOP IN ROCHESTER, NEW YORK. HE OPENED HIS FIRST GALLERY IN BOSTON, MASSACHUSETTS, IN 1976. MICHAEL JENKINS, WHO HAD WORKED ON PROJECTS WITH THE GALLERY SINCE ITS OPENING IN 1991, JOINED AS DIRECTOR IN 1996, AND BECAME A PARTNER IN 2003.

Sikkema Jenkins Gallery
530 West 22nd Street
Chelsea, New York

SIKKEMA JENKINS & CO. WAS ORIGINALLY LOCATED ON WOOSTER STREET IN SoHo AND IN 1999 MOVED TO ITS PRESENT CHELSEA LOCATION SUBSEQUENTLY UNDERGOING EXTENSIVE RENOVATION AND EXPANSION.  THE GALLERY IS AN EXTREMELY INVITING ENVIRONMENT, WITH A DEDICATED AND ACCESSIBLE STAFF EAGER TO EDUCATE AS WELL AS TO PLACE WORKS.

MEG MALLOY, A PARTNER AT SIKKEMA JENKINS, IS THE PERFECT REPRESENTATIVE OF THE OPEN UNPRETENTIOUS SPIRIT OF THE GALLERY AND THE LRFA BLOG IS DELIGHTED TO WELCOME HER TODAY.

MEG, THANK YOU, IN THIS BUSY SEASON OF THE ART YEAR, FOR YOUR CONTRIBUTION TO THE LRFA BLOG.

Vik Muniz: Surfaces
Current exhibition
Sikkema Jenkins & Co.

WHAT WERE YOUR EXPERIENCES GROWING UP THAT ENCOURAGED AN INTEREST IN ART?

I was born in Chicago and raised in Glencoe, a suburb north of the city. I am the oldest of six.   My mother had wanted to be an artist, and going to museums was a part of my childhood.  The Art Institute also had a great outreach program and before any school trip there, museum docents would come to school and educate us about what we might see.  My parents were involved in a local theater group and I took part in the youth version, always on the management side as a producer or v.p.-  never as a performer.    In high school and college, friends and I used to take the train to the city and to go the Art Institute.  We would just wander.  I was always struck by Georgia O’Keeffe’s Sky Above Clouds, which was installed at the top of a grand staircase at the museum: it seemed so majestic, and it motivated me to read her biography. I loved thinking about her work, and what sounded to me like an impossibly exciting life in art.

 

Georgia O’Keeffe
Sky Above Clouds

DID YOU PAINT OR HAVE AMBITIONS TO BECOME A PROFESSIONAL ARTIST?

 I never had any talent for art making, though  I enjoyed it.  I really thought I would go into publishing. I worked on the school newspapers in both junior high and high school.  One close friend did have parents who were collectors, and another had a mom who ran a gallery downtown.    

WHAT WAS YOUR ACADEMIC BACKGROUND, AND HOW DID IT LEAD YOU INTO THE ART WORLD?

 I went to The University of Illinois at Champaign Urbana and studied Comp Lit.  

My plan was to follow my favorite aunt’s career path in publishing.   Because comp lit is interdisciplinary, we often looked at visual art. My interest in its history was piqued, and I added art history classes to my course of study.  I was a resident advisor and had a number of artists on my floor  – I  loved visiting their studios and talking about what they  were doing.

Kara Walker
Turbine Commission Tate Modern

Then  I took a museum studies class and decided I should go into museum education.   With that goal in mind, I decided to go to grad school in art history, and ended up at UC Berkeley. There I had a job at the art museum bookstore, and then became the intern for Connie Lewallen, a wonderful curator and human being.   She ran the Matrix program, which focused on one contemporary artist at a time in a frequently changing exhibition program, always with an accompanying brochure.  I loved the variety and the engagement with the artists and their ideas.  It was compelling.  I also became the de facto house sitter for the curators — all of whom had great contemporary art and libraries, and I loved being immersed in those environments.

Erin Shirreff
San Francisco Museum of Art

SO MANY INFLUENCES LEADING YOU TO NEW YORK AND A CAREER IN THE ARTS. IN OUR NEXT LRFA BLOG, MEG WILL  DETAIL HER FIRST EXPERIENCES IN THE NEW YORK ART WORLD.

PLEASE JOIN US!

Cheim & Read looks to the future with gallery partner, Maria Bueno

Howard Read and John Cheim, partners Cheim & Read

 

ONE OF THE ADVANTAGES OF THE DIGITAL AGE IS THE AMOUNT OF MATERIAL ONE CAN VIEW, FROM GALLERIES ALL OVER THE WORLD, WITHOUT LEAVING HOME, PARTICULARLY WITH THE ADVENT OF GALLERIES LAUNCHING ONLINE VIEWING ROOMS. WITH THE ONLINE VIEWING ROOM, THE AUDIENCE FURTHER EXPANDS INTO ONE NOT LIMITED BY GEOGRAPHY. THE VIEWING ROOM IS AN ONLINE EXHIBITION SPACE WHERE VISITORS AND EXPLORE AND COLLECT WORKS FROM CURATED, ONLINE-ONLY EXHIBITIONS BY GALLERY ARTISTS AND SPECIAL COLLABORATIONS.

MANY OF THE LEADING GALLERIES HAVE INITIATED FOCUSED PROGRAMS THAT ARE BEAUTIFULLY CONCEIVED AND PRESENTED, OFTEN SEPARATE AND INDEPENDENT OF WORKS BEING SHOWN AT THE GALLERY OR IN A BOOTH AT AN ART FAIR  IN THE CONTINUING EFFORT TO REACH A BROADER, INTERNATIONAL AUDIENCE. SOMETIMES ONE CAN SEE THE WORKS IN THE FAIR BOOTH IN PERSON BUT ALSO ONE IS INTRODUCED TO WORKS THAT ARE SPECIFICALLY SELECTED SOLELY FOR THE VIEWING ROOM.  THE VIEWING ROOM HAS TAKEN ON A SIGNIFICANT MARKET PRESENCE OF ITS OWN.

https://hypebeast.com/2019/9/sterling-ruby-gagosian-online-viewing-room-frieze-london

IN LA, DAVID KORDANSKY GALLERY JUST ANNOUNCED THAT HIS GALLERY WILL LAUNCH ITS INAUGURAL ONLINE VIEWING ROOM IN NOVEMBER. IN THIS INSTANCE, THE SALES IT GENERATES WILL GO TO A CAUSE GREATER THAN JUST THE BOTTOM LINE, DONATED TO ORGANIZATIONS ACTIVELY ADDRESSING THE ISSUE OF CLIMATE CHANGE THUS ADDING SOCIAL IMPACT TO THE ONLINE VIEWING VEHICLE.

https://news.artnet.com/market/david-kordansky-online-viewing-room-1683550

Ron Gorchov
Current exhibition at Cheim & Read
23 East 67th Street, New York, NY

IT IS NO SURPRISE THAT CHEIM & READ HAS CREATED ITS FIRST ONLINE VIEWING ROOM IN CONJUNCTION WITH ITS INAUGURAL EXHIBITION IN ITS NEW SPACE – ANOTHER SIGN OF CHANGE, EXPANSION AND AN ADVANTAGEOUS USE OF TECHNOLOGY.

Cheim & Read is pleased to present our first online viewing room in conjunction with our inaugural exhibition, ron gorchov: at the cusp of the 80s, paintings 1979–1983. This online presentation offers an overview of Gorchov’s work, which can be classified into two types: saddles and stacks.

The first are the shield or saddle-like shaped paintings. Gorchov developed his signature format, in the late 1960s, by dipping wire forms in liquid that would eventually harden and become rigid (see below, GOSSIP, 1976). In the mid-1970s, the artist re-emerged after a hiatus from exhibiting his work publicly, and presented these early efforts stretching linen across a wooden saddle-shaped stretcher. Some paintings featured two keyhole-like figures side by side on a monochromatic ground, a motif the artist would return to over and over for the rest of his life. One example from this decade is COMET, 1974, in the permanent collection of the Museum of Modern Art, New York. Other series of works, such as the group of paintings on view at Cheim & Read, explore more pictorial methods of painting, with gestural brushstrokes and imagistic space. Over the intervening fifty years, Gorchov has continued to make paintings using this distinctive shaped canvas.

Lynda Benglis
Current, 1979

TODAY, THE LRFA BLOG IS DELIGHTED TO WELCOME BACK MARIA BUENO, DIRECTOR AND GALLERY PARTNER, TO TAKE ABOUT THE BRIGHT FUTURE OF CHEIM AND READ IN ITS BEAUTIFUL NEW UPTOWN LOCATION.

MARIA, WHAT ARE THE IMMEDIATE PLANS FOR THE GALLERY AND WHAT ARE SOME OF THE GOALS AND IDEAS THAT THE GALLERY WOULD LIKE TO REALIZE IN THE MORE DISTANT FUTURE?

The immediate plan was to be up and running in our space! We were all very excited for the September 26th opening of the paintings of Ron Gorchov.  We are working to confirm our exhibition program for 2021 as well as sourcing fresh and significant material from the secondary market.

WHAT IS THE NEW ADDRESS?

23 East 67th Street, between 5th and Madison Avenue.

https://www.cheimread.com/

Sean Scully
Night and Day
Cheim & Read

THAT’S A BEAUTIFUL BLOCK!  WHAT ARTISTS WILL YOU CONTINUE TO REPRESENT IN A MORE TRADITIONAL WAY?

Lynda Benglis, Louise Bourgeois, Ron Gorchov, Bill Jensen, Jonathan Lasker, Serge Poliakoff, and Sean Scully. 

WHAT ARTISTS WILL YOU SHARE WITH OTHER GALLERIES REPRESENTING PERHAPS THE EARLIER WORKS OR THE MORE RECENT ONES?

We are not interested in the traditional model of exclusive representation but instead will maintain our direct relationships with a number of artists and continue to work on their behalf.

Jonathon Lasker

THE GALLERY HAS A SPECIAL REPUTATION FOR ITS DEDICATION TO AND ASTUTE HANDLING  OF ARTISTS’ ESTATES. HOW WILL YOU LOOK TOWARDS THE SECONDARY MARKET RESALE FOR EITHER ARTISTS’ WHOSE ESTATES WITH WHOM YOU HAVE HAD A DEEP INVOLVEMENT OR FOR OTHER OTHERS THAT YOU DON’T REPRESENT.

Our strength in the secondary market comes from our depth of knowledge developed by decades of connoisseurship with a particular group of artists as well as our extensive archive over a twenty plus year period. It will be exciting to comb through our records to identify potential opportunities on the secondary market as well as begin new conversations with collectors who trust us to successfully deaccession their works by artists outside our program. 

Bill Jensen

WHAT ARE THE QUALITIES THAT CHEIM AND READ HAD OFFERED TO ITS LARGE ROSTER OF COLLECTORS THAT WILL CONTINUE TO SERVE YOU IN THE NEW SETTING?

We will continue to offer a particular artistic vision with an emphasis on painting or works related to painting installed in a beautiful environment. We will continue to share our knowledge and expertise about art to the public and strive to give our clients a professional and satisfying experience when working with us. We will be able to provide a level of individualized attention and sense of privacy that collectors do not get from larger galleries. We are confident this more intimate approach will be successful and look forward to the future.

Serge Poliakoff

 

MARIA, THANK YOU SO MUCH FOR SPEAKING WITH THE LRFA BLOG AT THE TIME OF YOUR LAUNCH OF YOUR NEW GALLERY SPACE. CONGRATULATIONS ON THE PUBLICATION OF A BEAUTIFUL MONOGRAPH ON THE HISTORY OF CHEIM & READ’S FIRST TWENTY-FIRST YEARS PUBLISHED BY DAMIANI IN ITALY.

https://www.damianieditore.com/

HERE’S TO 21 MORE!

A profound commitment to the interests of the artist with gallery director, Maria Bueno, of Cheim & Read

Art Basel 2019
Cheim & Read

IN HIS RECENTLY PUBLISHED BOOK, BOOM, A FASCINATING AND COMPREHENSIVE COMMENTARY ON HOW THE CONTEMPORARY ART WORLD AND MARKET HAS EVOLVED, MICHAEL SHNAYERSON WRITES:

TRADITIONALLY, DEALERS LARGE AND SMALL HAD TRAVELED TO A HANDFUL OF FAIRS: FIAC IN PARIS, NEW YORK’S ARMORY SHOW, AND THE MOST ESTABLISHED FAIR, ART BASEL SWITZERLAND. WHEN ART BASEL MIAMI BEACH JOINED THE PACK IN 2002, AND FRIEZE LONDON IN 2003, THE PACE REMAINED, FOR A WHILE, MANAGEABLE. YET EACH YEAR, MORE NEW ART FAIRS SPROUTED, IN ONE COUNTRY AFTER ANOTHER…CLARE McANDREW, THE CONSULTING ART-MARKET ECONOMIST WHO NOW WORKS FOR ART BASEL, COUNTED 260 MAJOR FAIRS. WITH MORE AND MORE ART TO BE SEEN AND SOLD, DEALERS FELT THAT THEY HAD NO CHOICE BUT TO BE A PRESENCE IN AT LEAST A FEW OF THE PROLIFERATING SHOWS. IT WAS A COSTLY DECISION. 

Michael Shnayerson, BOOM, Public Affairs, New York, pp. 362-363.

Michael Shnayerson
Boom
Mad Money, Mega Dealers, and the Rise of Contemporary Art

A FEW GALLERIES ARE GETTING MORE AND MORE OF THE MARKET SHARE. MANY COLLECTORS ARE VISITING ART FAIRS AS THEIR PRIMARY SOURCE WHEN BUILDING AND ADDING TO THEIR COLLECTIONS AND FREQUENT THE GALLERIES LESS AND LESS. AT THE SAME TIME, JENNIFER FLAY, ARTISTIC DIRECTOR OF FIAC, IN AN INTERVIEW IN THIS WEEK’S FINANCIAL TIMES,  POINTS OUT THAT ART WORLD INDIVIDUALS MAY SOON NEED TO RE-EVALUATE THEIR CARBON FOOTPRINT WHICH COULD POTENTIALLY BRING THE FOCUS OF THE MARKET BACK TO REGIONAL AND LOCAL SITUATIONS.

IN THIS CLIMATE OF ECONOMICAL, SOCIAL AND ENVIRONMENTAL CONCERNS, THE RESPONSIVE ART MARKET IS UNDERGOING A TRANSFORMATION IN ITS WAY OF DOING BUSINESS.

TODAY, WE WELCOME BACK MARIA BUENO, PARTNER AT CHEIM & READ, WHO HAS OPTED TO OPEN AN UPTOWN GALLERY FOCUSED ON CONNOISSEURSHIP, THE SECONDARY MARKET AND AN UNFLAGGING COMMITMENT TO THE BEST INTERESTS OF THE ARTIST.

https://www.cheimread.com

Frieze, New York, 2018
photo taken by Brian Buckley courtesy of Cheim & Read, New York

MARIA, WHAT ART FAIRS DOES CHEIM & READ PARTICIPATE IN, AND WHY?

Art Basel and Art Basel Miami Beach. The outstanding quality of the material on view brings in people who are important to us, from curators to collectors to museum patrons. We take these fairs very seriously and our presentations reflect that effort.

WE ARE IN A CHANGING AND VOLATILE ECONOMIC CLIMATE. HOW DO YOU THINK THAT WILL IMPACT ON THE CONTEMPORARY ART MARKET?

It is hard to predict but collectors will always find the resources to acquire a work of the highest quality no matter the circumstances. We strive to source and show work of this quality level so that collectors feel comfortable and confident in what we are showing and offering them. We have worked hard to establish a loyal client base which we hope will follow us into the next chapter of the gallery’s history.

WHAT IMPACT DO YOU THINK IT WILL HAVE ON THE GALLERY SYSTEM?  WHAT ARE THE DIFFERENCES IN REPRESENTATING ARTISTS NOW AND EVEN A FEW YEARS AGO SINCE SOME DEALERS HAVE NUMEROUS GLOBAL LOCATIONS?

Dealers will need to find innovative ways to continue doing business and make sure artists have the freedom and flexibility to make their work. Today it seems like everyone is vying for “worldwide exclusive representation” – these representation wars are tiring and not necessarily in the best interest of the artists. Why not have several dealers with whom you like and respect working for you? 

Ron Gorchov
Opening exhibit September 2019
Cheim & Read
23 East 67th St, New York

WHAT ARE THE GALLERY’S PLANS FOR THE FUTURE?

Our new gallery opened on September 26th with an exhibition of historical, never before exhibited paintings by Ron Gorchov. We plan to mount 3-4 exhibitions per year, most of which will have a historical focus and examine key periods in artists’ oeuvres. Catalogues and other publications will add to our commitment to original scholarship. We also plan to participate in select art fairs. We will continue to work directly with a number of artists whom we have had long relationships with and will continue to pursue meaningful projects on their behalf. We will also concentrate on private sales in the secondary market. This work is informed by our depth of knowledge developed by decades of connoisseurship and our extensive archive.

 

Lynda Benglis
Catalina
Museum of Cycladic Art Athens, November 2019

 

WHAT DO YOU THINK IS THE IMPACT OF OUR SOPHISTICATED AND EVER DEVELOPING TECHNOLOGY ON ARTISTS’ WORK?  WHICH ARTISTS EMBRACE THESE INNOVATIONS MOST SUCCESSFULLY?

While Cheim & Read has always had a particular interest in the traditional medium of painting, technology has been helpful in executing a sculptor’s concept in more ambitious scales. Lynda Benglis for example continues to push the boundaries of this medium and uses new technology with her foundries to create incredibly intricate and detailed works on monumental scales. It’s exciting for all of us to see come to life.

Lynda Benglis at The Cycladic Museum, November 22, 2019

“Lynda Benglis: In the Realm of the Senses” opens at the Museum of Cycladic Art, Athens. The exhibition curated by Dr. David Anfam is the first solo exhibitions for Benglis in Greece, a country that has great significance for Benglis aesthetically and culturally. 

THERE ARE CERTAINLY TRENDS IN COLLECTING, MORE THAN EVER, SINCE IMAGES AND ARTWORKS ARE ACCESSIBLE BECAUSE OF THE INTERNET, INTERNATIONAL ART FAIRS, AND THE GLOBAL MARKET.  HOW DO YOU DIFFERENTIATE WHAT IS A TREND THAT WILL RECEDE ALONG WITH THE MONETARY VALUE  FROM AN ARTIST THAT WILL CONTINUALLY COMMAND A PLACE IN THE MARKET WITH ONLY SLIGHT EBBS AND FLOWS ?

In most instances, you can only know these things with time. For us, we continue to show and support artists we believe in, no matter the trends. It is this steadfast commitment to a particular vision that I think differentiates us from other dealers. 

IN OUR NEXT LRFA BLOG, MARIA WILL SHARE HER PERSPECTIVE ON TRENDS IN THE ART MARKET AND THE CONTINUED FOCUS AND FUTURE OF CHEIM & READ.

PLEASE JOIN US!

A history of rich, scholarly and history-making exhibitions at Cheim and Read with Director Maria Bueno

Al Held
Black & White Paintings
Cheim & Read

CURATING AN EXHIBITION IS AN ART FORM IN AND OF ITSELF. THE CONCERNS ARE BOTH AESTHETIC AND PRACTICAL. A CURATOR HAS AN IDEA FOR AN EXHIBITION AND THEN STARTS TO EXPLORE THE ARTWORKS THAT WOULD BE THE FIRST CHOICES TO BEST ILLUSTRATE THE THEME. FROM A PRACTICAL POINT OF VIEW, IT IS LABOR-INTENSIVE IN TERMS OF CONVINCING THE LENDERS, BORROWING THE WORKS, EXECUTING THE LOAN AGREEMENTS, CHECKING THE CONDITION OF THE WORKS, TRANSPORTING THEM, THE INSURANCE, AND SO ON. FROM AN AESTHETIC PERSPECTIVE, THERE ARE WORKS THAT ARE ESSENTIAL CENTERPIECES OF THE EXHIBITION AND CURATORS MUST PLAN, A LONG TIME IN ADVANCE, TO ACQUIRE THEM FOR EXHIBITION.

Serpentine Pavilion

ONE OF THE MOST BRILLIANT MUSEUM CURATORS IS SUPERSTAR HANS ULRICH OBRIST, CURATOR OF THE UNIQUE SERPENTINE GALLERY IN LONDON,  WHO CONTRIBUTED THIS ARTICLE ON THE ART OF CURATION TO THE GUARDIAN IN MARCH 2014.

https://www.theguardian.com/artanddesign/2014/mar/23/hans-ulrich-obrist-art-curator

IT’S WORTH THINKING ABOUT THE ETYMOLOGY OF CURATING. IT COMES FROM THE LATIN WORD CURARE, MEANING TO TAKE CARE. IN ROMAN TIMES, IT MEANT TO TAKE CARE OF THE BATH HOUSES. IN MEDIEVAL TIMES, IT DESIGNATED THE PRIEST WHO CARED FOR SOULS. LATER, IN THE 18TH CENTURY, IT MEANT LOOKING AFTER COLLECTIONS OF ART AND ARTIFACTS.

THERE’S A HANGOVER OF ALL THOSE THINGS IN MODERN CURATING. WHEN I CURATED MY FIRST EXHIBITION – WHICH FOLLOWED DISCUSSIONS WITH THE ARTISTS PETER FISCHLI AND DAVID WEISS,  RICHARD WENTWORTH, CHRISTIAN BOLTANSKI AND HANS PETER FELDMANN,  IN THE KITCHEN OF MY APARTMENT IN ST. GALLEN, SWITZERLAND – I HAD A PRODUCTIVE MISUNDERSTANDING WITH MY PARENTS. THEY THOUGHT I WAS GOING INTO MEDICINE BECAUSE CURATING MEANS CARING. I DON’T THINK THEY THOUGHT IT WAS TO DO WITH ART.

TODAY, CURATING AS A PROFESSION MEANS AT LEAST FOUR THINGS. IT MEANS TO PRESERVE, IN THE SENSE OF SAFEGUARDING THE HERITAGE OF ART. IT MEANS TO BE THE SELECTOR OF NEW WORK. IT MEANS TO CONNECT TO ART HISTORY. AND IT MEANS DISPLAYING OR ARRANGING THE WORK. BUT IT’S MORE THAN THAT. BEFORE 1800, FEW PEOPLE WENT TO EXHIBITIONS. NOW HUNDREDS OF MILLIONS OF PEOPLE VISIT THEM EVERY YEAR. IT’S A MASS MEDIUM AND A RITUAL. 

IN THE GALLERY WORLD, CHEIM & READ IS KNOWN FOR ITS EXCEPTIONAL GALLERY EXHIBITIONS.

https://www.cheimread.com/

IN TODAY’S LRFA BLOG, GALLERY DIRECTOR MARIA BUENO, WILL SHARE A VERY SMALL SLICE OF THE GALLERY’S VERY RICH AND EXTENSIVE EXHIBITION HISTORY.

MARIA, WELCOME BACK!

Jack Pierson
Installation View
Cheim & Read

 

MANY OF THE ARTISTS THE GALLERY REPRESENTS HAVE BEEN WITH THE GALLERY SINCE ITS INAUGURATION IN 1997.  WHO ARE SOME OF THE ARTISTS THAT FALL IN THAT CATEGORY?

Lynda Benglis, Louise Bourgeois, Adam Fuss, Bill Jensen, Jonathan Lasker, Jack Pierson, and Juan Usle.

Lynda Benglis
Installation View
Cheim & Read

WHAT ARE SOME OF THE CRITERIA FOR CONSIDERING AN ARTIST’S REPRESENTATION? ARE THEIR SPECIFIC STEPS, AS IN TESTING THE WATERS WITH GROUP EXPOSURE, OR DOES IT DIFFER IN EACH INSTANCE?

It differs in each instance, but the most important component of considering representing an artist is that the artist’s work fits within John Cheim’s curatorial vision and also complements the artists whom we already work with – context is extremely important to us and it is important all of our artists’ work can have a meaningful dialogue when shown together. 

Jean-Michel Basquiat In Word Only Cheim & Read

WITH A TWENTY YEAR HISTORY, THIS BECOMES AN IMPOSSIBLE QUESTION BUT WHAT WOULD YOU CONSIDER SOME OF THE MOST OUTSTANDING SOLO EXHIBITIONS?

Impossible question, indeed! Some that come to mind are IN WORD ONLY by Jean Michel Basquiat, Joan Mitchell FRÉMICOURT PAINTINGS, Louise Bourgeois SUSPENSION, and Al Held’s BLACK AND WHITE PAINTINGS.

N.B. To coincide with two major retrospective exhibitions of Basquiat’s work at the Brooklyn Museum, New York and the Museo d’Arte Moderna, in Lugano, Switzerland, in 2005, Cheim & Read presented an exceptional exhibit entitled “In Word Only” that focused on the paintings, drawings and notebooks that celebrated the use of the written word and its significance.  This exhibition was the first to exclusively feature Basquiat’s unique and significant use of language.

The Female Gaze: Women Look At Women
Cheim & Read, 2009

WHAT DO YOU CONSIDER SOME OF THE MOST OUTSTANDING GROUP EXHIBITIONS?

The Female Gaze: Women Look At Women and its counterpart , The Female Gaze: Women Look at Men, Soutine and Modern Art: The New Landscape, The New Still Life and I Am As You Will Be: The Skeleton In Art.

N.B. THESE ARE JUST A VERY FEW EXAMPLES OF THE SCHOLARSHIP AND INTELLECTUAL RIGOR THAT CHEIM & READ HAS INVESTED IN A TWENTY YEAR PERIOD WHEN CURATING WORKS FOR AN EXHIBITION. THE EXHIBITS ARE ACCOMPANIED BY BEAUTIFULLY CONCEIVED CATALOGUES THAT INCLUDE AN ESSAY ON THE EXHIBITION AND IMAGES OF THE WORKS.

The Female Gaze: Women Look At Women
Cheim & Read 2009

THE FEMALE GAZE: WOMEN LOOK AT MEN

A prescient two part exhibition on the female form as seen through the eyes of women artists and men artists took place in September 2009 at Cheim and Read.

With
 this
 premise, 
the 
show  
sought
 to
 present
 a
 collection 
of 
works
 which
 reclaim
ed the
 traditional
 domination
 of
 the
 “male
 gaze”
 and
 reorient
ed the
 significance 
of
 the 
female
 figure 
to
 allow 
for
 more
 varied
 interpretations. A variety of mediums was included- sculpture, photography, video, painting and installation- and a rich and diverse group of women artists represented including Vanessa Beecroft, Lynda Benglis, Ellen Gallagher, Nan Golden, Roni Horn, and Joan Mitchell, to name a few. 

Wendy
Steiner, 
in 
her
 essay
 “Venus 
in 
Exile:
The
Rejection 
of
 Beauty in
Twentieth-Century
 Art”
 elaborates 
further:

The 
‘self’
 judging
 the 
beauty
 of 
art,
 for 
example,
 is 
a
 perceiver
 and
 hence 
a 
conscious
 subject,
 whereas 
the
‘ Other’ 
is
 merely
 the 
object
 of 
this 
perception. 
If
 the 
Other 
is 
an
artwork, 
it
 is 
inanimate
 by 
definition;
 many 
people 
would
 argue 
that 
the
 perception
 of
 a
 woman 
(or 
man 
or
 child)
 as
 beautiful
 reduces
 her 
to 
the 
status 
of 
a
 thing 
as
 well.
Indeed,
 in 
the
 perennial
 symbolism
 surrounding
 beauty,
 the 
perceiver 
(the
 self)
 is
 active 
and
 ‘hence’
 male,
 and 
the 
artwork
 or
 woman 
(the
Other)
 is
 passive
 ( to-be-seen )
 and 
‘therefore’ 
female.

This
 exhibition 
attempts 
to 
debunk
 the
 notion
 of 
the
 male 
gaze 
by
 providing 
a
 group
 of
 works 
in 
which 
the
 artist 
and
 subject
 do
 not
 relate
  as
“voyeur”
and
“object,”
 but
 as
woman
 and 
woman.
 It
 would 
be 
interesting 
to
 ask 
the 
question
 how
 we
 would 
feel
 about
  the 
works 
in
 the
 exhibition 
if
 we
 were
 told
  they 
were
 made
 by 
a
 man.

Soutine and Modern Art: The New Landscape, The New Still Life
Cheim & Read

DO YOU INVITE GUEST CURATORS OR DOES THE THEMATIC IDEA FOR AN EXHIBIT REST WITH HOWARD AND/OR JOHN OR WITH THE GALLERY STAFF AS A GROUP?

The majority of our exhibitions are conceived and curated by John Cheim but on occasion we do invite artists like Jack Pierson to curate exhibitions. We have also had independent curators like Raphael Rubinstein curate exhibitions such REINVENTING ABSTRACTION which focused on New York abstraction in the 1980s as practiced by a generation of painters born between 1939 and 1949.

IN OUR NEXT LRFA BLOG POST, MARIA GIVES HER ASTUTE PERSPECTIVE ON THE PLACE OF ART FAIRS IN THE CURRENT MARKET.

UNTIL THEN!

The artist/gallerist relationship at Cheim & Read with director Maria Bueno

CHEIM & READ
23 East 67th Street

CHEIM & READ GALLERY HAS ALWAYS BEEN PRESCIENT ABOUT THE FUTURE OF THE ART MARKET. IN 2018, AT A PANEL AT ART BASEL MIAMI BEACH, CO-FOUNDER HOWARD READ,  AT “THE FUTURE OF THE ARTIST AND GALLERIST RELATIONSHIP” DISCUSSION, ANNOUNCED THE GALLERY’S PLANS TO OPEN ON THE UPPER EAST SIDE, AND LEADING THE WAY TOWARDS A NEW MODEL OF GALLERIES THAT IS MORE PROGRESSIVE. WHILE CONTINUING TO DEAL ON THE PRIMARY MARKET, WORKING DIRECTLY WITH ARTISTS IN RELATIONSHIPS THAT CHEIM & READ HAS LOVINGLY CULTIVATED OVER THE YEARS, THE GALLERY WILL CREATE  A MORE FLEXIBLE INFRASTRUCTURE, FOCUSING ON THE SECONDARY MARKET, COMMISSIONS, AND TARGETED ART FAIRS.

Art Basel Miami Beach
Conversations 2018
Howard Read

http://www.artnews.com/2018/12/07/dealer-howard-read-announces-new-art-commissions-farewell-castelli-model-business/

MARIA BUENO, DIRECTOR AT CHEIM & READ, CELEBRATES HER 10TH ANNIVERSARY AT THE GALLERY AND SHARES WITH THE LRFA BLOG THE GALLERY’S ENORMOUS RESPECT FOR ITS ARTISTS, AND SENSITIVITY TO THE ARTIST/GALLERIST RELATIONSHIP.

MARIA, WELCOME BACK AND THANK YOU FOR YOUR CONTRIBUTION TO THE LRFA BLOG.

WHAT WERE THE SUBSEQUENT STEPS THAT LED YOU TO CHEIM AND READ?

I graduated college, moved to Europe for a year (and worked for a gallery in Barcelona), and then came back and worked for Phillips in their contemporary art department. I started there as an administrator, then a junior specialist, and although I enjoyed the educational component of learning about new artists as well as the evening sales adrenaline rush, I missed the connection to working directly with artists. I kept in touch with Cheim & Read and when the timing was finally right, joined them in 2010.

Al Held
The Yellow X

HOW LONG HAVE YOU BEEN WITH THE GALLERY AND WHAT IS ITS BUSINESS STRUCTURE?

Next year will be my 10th year anniversary with Cheim & Read. It has been an honor and a privilege to work with John Cheim and Howard Read. They encouraged me to find my own identity and style as a dealer, supported projects or initiatives I thought would be beneficial to the gallery, and entrusted me to form my own relationships with the artists they so carefully cultivated over their careers.

For over two decades, Cheim & Read represented over twenty artists and estates and most of our focus was building and supporting these artists on the primary market. We also had a strong presence in the secondary market with artists with whom we had an interest or particular expertise. In June of 2018, we announced that we would be relocating from Chelsea to a more intimate gallery on the Upper East Side and shifting our business model to one that is more nimble, flexible, and in line with John Cheim and Howard Read’s interest in pursuing projects and working with artists they are truly passionate about.

Serge Poliakoff
Bleu Rouge
1951

DO YOU HAVE WORKING RELATIONSHIPS WITH SPECIFIC ARTISTS OR IS YOUR FOCUS PRIMARILY IN THE SALE OF WORKS FOR ALL THE ARTISTS THE GALLERY REPRESENTS?

We have a very organic approach to working with artists – there is no such thing as an “artist’s liaison” at Cheim & Read. John and Howard have their longstanding relationships with our artists and I support their efforts by developing my own relationships so that we can best service the needs of the artists on an individual basis. It has a family-like quality that I think is rare for galleries in the present day and has served us well throughout the gallery’s history.

Milton Resnick
Board Painting
courtesy of Cheim & Read

WHAT ARE THE WAYS IN WHICH A GALLERY BEST REPRESENTS AN ESTATE? IS THE EMPHASIS ON PLACING WORKS IN COLLECTIONS OR MUSEUMS OR IN ARRANGING MUSEUM EXHIBITIONS ON AN INTERNATIONAL BASIS?

Our strategy is to first mount exhibitions of important but perhaps overlooked periods in an artist’s career. The goal here is to expose curators, collectors, and the general public to a body of work that perhaps has not been seen in many years or has not been explored in further depth.

Notable examples of this are Al Held’s Alphabet Paintings (2013), Hans Hartung’s late paintings (2010), the work of Serge Poliakoff (2016), and the Board paintings of Milton Resnick (2018). These exhibitions are accompanied by scholarly publications with writing from curators or critics that helps to reframe this work a contemporary context. These efforts usually begin important conversations with museums to acquire works for their collection and/or mount their own presentation of the artist. We also establish more in depth strategies with each estate to feature works at art fair presentations or other exhibition or project opportunities, undertake outreach efforts to institutions and foundations to feature and/or acquire works, create and/or help organize an estate’s archive, and much more.

Hans Hartung
The Last Paintings 1989
Cheim & Read exhibition

IN OUR NEXT LRFA BLOG WITH MARIA BUENO, DIRECTOR OF CHEIM & READ, WE WILL EXPLORE JUST A LITTLE OF THE GALLERY’S VERY RICH HISTORY.

VISIT CHEIM & READ’S NEW UPTOWN SPACE, AT 23 EAST 67TH STREET, AND ITS EXUBERANT INAUGURAL EXHIBITION CELEBRATING THE WORK OF RON GORCHOV.

https://www.cheimread.com/

 

Cheim & Read, launching its new gallery space, with Director Maria Bueno

Maria Bueno
Director
Cheim & Read

CHEIM & READ ENJOYS A LONG AND RESPECTED HISTORY IN THE GALLERY WORLD. IT WAS FOUNDED IN 1997 BY JOHN CHEIM AND HOWARD READ, PREVIOUSLY DIRECTORS AT THE LEGENDARY ROBERT MILLER GALLERY. SINCE ITS INCEPTION, THE GALLERY HAS REPRESENTED A DISTINGUISHED ROSTER OF CONTEMPORARY ARTISTS AND ARTISTS’ ESTATES, EMBRACING A VARIETY OF ARTISTIC PRACTICES, INCLUDING PAINTING AND SCULPTURE, PHOTOGRAPHY AND VIDEO. IN JUNE 2018, THE GALLERY ANNOUNCED ITS DECISION TO TRANSITION TO A MORE PRIVATE ARENA, REPRESENTING ARTISTS WITH WHOM THEY HAVE HAD A LONG ASSOCIATION AS WELL AS CONCENTRATING ON THE SECONDARY MARKET, SCULPTURE COMMISSIONS AND SPECIAL PROJECTS.

IT IS WITH GREAT PLEASURE THAT THE LRFA BLOG INTRODUCES MARIA BUENO, PARTNER AND DIRECTOR OF CHEIM & READ, TO SHARE ITS DISTINGUISHED HISTORY AND  EXCITING FUTURE WITH US.

ON SEPTEMBER 26th, CHEIM & READ WILL INAUGURATE ITS NEW GALLERY SPACE AT 23 EAST 67th STREET ON THE UPPER EAST SIDE WHILE MAINTAINING A DOWNTOWN VIEWING SPACE IN CHELSEA ON 26th STREET.

https://www.cheimread.com/

 

Ron Gorchov
Logic
1982-1983

THE GALLERY WILL OPEN WITH A PRESENTATION OF RON GORCHOV’S PAINTINGS FROM 1979 TO 1983. AS EARLY AS 1967, GORCHOV DEVELOPED PAINTINGS WITH CURVED SURFACES, A PRACTICE THAT PLACED HIS WORK AT A CRUCIAL INTERSECTION BETWEEN PAINTING AND SCULPTURE. THE WORKS THAT WILL LAUNCH CHEIM & READ’S NEW SPACE ARE EMBLEMATIC OF A PERIOD IN CONTEMPORARY ART  WHEN THE RELEVANCE OF PAINTING WAS BEING QUESTIONED. THESE ARE LANDMARK WORKS THAT INFLUENCED THE GENERATION OF ARTISTS THAT FOLLOWED AND A BRILLIANT CHOICE FOR THE OPENING AS THE EXHIBITION REPRESENTS THE  KIND OF HISTORICALLY SIGNIFICANT WORK THAT CHARACTERIZES CHEIM & READ’S TWENTY YEAR COMMITMENT TO REPRESENTING IMPORTANT AND HIGHLY INFLUENTIAL MODERN AND CONTEMPORARY ARTISTS.

Ron Gorchov
Installation

MARIA, WELCOME!  THANK YOU FOR TAKING TIME DURING WHAT MUST HAVE BEEN AN EXTREMELY INTENSIVE SUMMER TO CONTRIBUTE TO THE LRFA BLOG.

HAVE YOU ALWAYS BEEN INTERESTED IN ART? WERE YOUR PARENTS COLLECTORS OR DID YOU THINK ABOUT BEING AN ARTIST YOURSELF?

I like to think I was interested in art from a young age. My parents were in medicine and somewhat removed from the art world but we traveled often and my mother made it a point to visit museums in every city we visited. I remember being astonished as a child at the vast quantity of objects at the Met in New York, spending hours engrossed in American paintings at the National Gallery in DC, and then particularly enthralled on my first trip to Rome as a teenager. I felt a very strong personal connection to this city’s incredible history through its artistic heritage and at that moment knew I wanted to be involved in art in whatever way I could. I dabbled in making art as a student but felt passionately about supporting artists in their endeavors and felt I could make a more meaningful impact in this way.

Jennie Holzer
Guggenheim Bilbao

WHAT STEPS DID YOU TAKE ACADEMICALLY TO FURTHER YOUR INTEREST IN THE FIELD OF ART?

As a matter of practicality, I studied at the Stern School of Business at NYU but was fortunate to have an advisor there who supported my interest in art. I was able to take as many art history classes as I had time for. Through Stern, I was also a researcher for Michael Moses who founded the Mei Moses Price Index (now owned by Sotheby’s). This was an important introduction to the art market and helped me to learn about the market and trends in a very specialized way.  I also  studied abroad in Madrid and Florence and took mostly art history and language courses there – one especially enthralling class was Masterpieces of the Prado where the class was held in different parts of the museum to look at and discuss artists like Goya and Picasso, who of course have highly influenced the contemporary artistic canon. 

Louise Bourgeois
Couple
Song Art Museum, Beijing

WHAT IS YOUR PROFESSIONAL HISTORY?  YOUR FIRST JOB IN THE ART WORLD?

At that time, I learned that without some kind of personal connection, it is hard to break into the art world unless you want to work for free – thankfully, this is starting to change now. I was eager to work anywhere that would have me and landed a job at a now defunct but important American paintings gallery called Alexander Gallery which was on Madison Avenue just across the street from what is now the Met Breuer. Alexander Acevedo was a larger than life persona with incredible taste and I would often stumble upon unexpected objects like Picasso drawings in his storage room – I was floored by these kind of discoveries and wanted to absorb everything I could about running a gallery. I also interned for Marian Goodman in the archive department, worked for a corporate art advisor, an artist on the Lower East Side, a Tribeca print dealer, and most importantly in my junior and senior year of college, Cheim & Read.

Sean Scully
Wadsworth Atheneum

WHAT A WONDERFUL RANGE OF EXPERIENCE YOU CULLEd FROM WORKING WITH SUCH DISTINGUISHED GALLERIES AND A BROAD KNOWLEDGE OF ART SPANNING BOTH AMERICAN AND EUROPEAN MODERN AND CONTEMPORARY ART.

IN OUR NEXT LRFA BLOG POST, MARIA WILL INFORM US ABOUT THE  FURTHER STEPS THAT LED HER TO HER CAREER AT CHEIM & READ, WHERE SHE IS NOW DIRECTOR OF THE GALLERY.

PLEASE JOIN US!

 

 

Jennifer Brown, respected friend and expert on Diversity and Inclusion, is offering a six week on-line course

To Friends, Colleagues and Followers,

You are probably already aware that there is a growing need for businesses and personnel to pay attention to diversity and inclusion.

Diversity and inclusion has real impact to the bottom line of your business.

Organizations that lead in diversity and inclusion have:
22% lower turnover rates

27% higher profitability

22% greater productivity

39% higher customer satisfaction

I’d like to introduce you to my friend and esteemed colleague, Jennifer Brown. Jennifer Brown is an award-winning entrepreneur, speaker, diversity and inclusion consultant, and author. She is the successful founder, president, and CEO of Jennifer Brown Consulting and bestselling author of Inclusion: Diversity, The New Workplace and The Will to Change and her new book, How To Be An Inclusive Leader: Your Role in Creating Cultures of Belonging Where Everyone Can Thrive.

Jennifer Brown Consulting has made it their mission to help companies create a culture of belonging in which everyone can thrive. This means having an acute attention to diversity and inclusion at all levels of every business. It requires us to be in the know. The time is now to expand this knowledge base.

DEI Foundations is a 6-week introductory course that aims to provide those who want to integrate Diversity, Equity, and Inclusion (DEI) into their own professional roles with the tools to do so.

Upon completing this course you will be able to:

  • Describe what it means to be a great DEI Practitioner
  • Build your DEI knowledge and acumen
  • Leverage the power of your unique DEI story – and we all have one!
  • Explain the value of building a culture of inclusion in your organization
  • Begin to develop skills to communicate the business case for building and supporting an effective DEI program

 

The first step is to click here to learn more about DEI Foundations. The next course session begins October 1, 2019.  Enter the Coupon code INCLUSION345 to get $100 off to the course when you enroll.  As an extra incentive, I am donating my compensation for each individual who signs up using my coupon number to STRONGER FOR LIFE, the documentary on Ilaria Montagnani, founder of Powerstrike, international athlete and breast cancer survivor.

I am a huge believer in the importance of DEI and feel it is important to expose you to this important global initiative. Whether you are a corporate manager, independent coach, or interested in beginning the journey to become a professional DEI practitioner, you can expect to come away with a robust set of tools that can be integrated into your duties and goals.

You won’t want to miss this opportunity to join the October 1st cohort.

Best,

Leslie

P.S. Click here to watch Jennifer’s Ted Talk, Finding Your Voice in the Workplace, or click here for a 30 minute introductory course to Diversity and Inclusion.

 

The importance of the new technology in the art market as analyzed in the Bank of America Private Bank survey

THE DIGITAL REVOLUTION HAS DRASTICALLY AFFECTED MANY INDUSTRIES, CHANGING THE WAY WE COMMUNICATE, ACQUIRE AND SELL PRODUCT. ONE OF THE INDUSTRIES THAT HAS, SURPRISINGLY, BEEN IMPACTED LESS THAN ONE WOULD THINK, GIVEN ITS BASICALLY VISUAl NATURE, IS THE ART MARKET AS SEEN IN THE RECENT PIERCINGLY INFORMATIVE AND COMPREHENSIVE BANK OF AMERICA PRIVATE BANK REPORT.

  • ART AND TECHNOLOGY
  • The art market remains one of the few industries still largely undisrupted by technology. We’re seeing innovation, but it’s still at the fringes. While online transactions are increasing, the growth of online sales has slowed, growing at 9.8% in 2018 versus 12% in 2017.
  • Internet-native art companies are trying to help. In June, private equity firm Cove Hill made an investment in online marketplace LiveAuctioneers, aiming to accelerate online sales growth for their auction house partners, while Invaluable has made it easier to source and buy lower value items. Major galleries like Gagosian and David Zwirner launched digital sales channels, but the digital revolution still eludes the art world.
  • On the transparency front, Christie’s became the first major auction house to record sales via Blockchain with the sale of the Ebsworth collection in November. At the request of the seller, Christie’s partnered with Blockchain-secured registry Artory to record its transactions. It’s an interesting development, but we’re a long way from Blockchain becoming industry standard.
  • The most significant art world technology has been the rise of Instagram. Artists market themselves, museums announce exhibits, dealers initiate sales, and collectors tout their purchases through the platform. In 2017, when the “Untitled” Basquiat sold at Sotheby’s for over $110 million, Yusaku Maezawa posted his photo on Instagram to let the world know of his acquisition. Younger collectors, artists, dealers and auction specialists are increasingly using Instagram to enhance their personal and professional brands. Expect the new status loop to fuel a herd mentality for some artists and more price volatility. So collector beware.

 

  • AS AN ASIDE, ARTISTS ARE CREATING WORKS THAT REPRODUCE EFFECTIVELY ON INSTAGRAM IN TERMS OF COLOR, DIMENSIONALITY AND SURFACE WITH THEIR AESTHETIC PRESENCE IN PERSON SOMETIMES TAKING A BACK SEAT.

 

  • ART LENDING

    Our art lending business grew by 20% year-over-year, as you all continue to unlock capital from your art to build hotels, buy sports franchises, expand companies and even buy more art, just to name a few. The four most common situations we’re seeing are:

    1. The balance sheet arbitrage: With historically low interest rates, more of you are unlocking capital from your art to redeploy into higher-return areas of your financial life, like private equity.

    2. Working capital line: During the current economic expansion, more of you are using art loans to fund the growth of your privately held companies.

    3. Monetizing a collection: The passage of the 2017 Tax Cuts and Jobs Act eliminated the 1031 Like-Kind Exchange, making it more expensive to sell art. Instead of selling art and dealing with paying the 28% federal tax + 3% health care surtax + state taxes + sales commission, many of you have chosen to leverage your art via an art line to generate liquidity.

    4. Guarantees: We’re seeing more of you using art facilities to back guarantees at auction (but we advise caution).

    We estimate that total U.S. art loan commitments stand at $16 billion. We’re proud to have a significant portion of those loans, and we remain staunchly committed to the space. Given our forecast of continued low interest rates, stratified wealth creation, and expansion of the collector base, we expect continued growth in the space.

    Top five artists we lend against, by value:

    1. Willem de Kooning

    2. Andy Warhol
    3. Constantin Brancusi

    4. Paul Cezanne

    5. Roy Lichtenstein

    AT THE CLOSE OF THE SURVEY, BANK OF AMERICA PRIVATE BANK TARGETS THE OPPORTUNITY ZONES AND THE EFFECT OF CAPITAL GAINS TAX INCREASES AND THE REPEAL OF THE SECTION 1031 LIKE-KIND EXCHANGES PROVISION. THIS IS INVALUABLE INFORMATION FOR ANY ONE INTERESTED IN THE ART MARKET: DEALERS, GALLERISTS, AUCTION SPECIALISTS, AND MOST OF ALL COLLECTORS.

    PLEASE JOIN US!

     

A comprehensive report on the current art market from the Art Lending Services division at U.S. Trust

U.S. TRUST, AS DO MANY OF THE MOST HIGHLY REGARDED BANKING AND FINANCIAL ADVISORY INSTITUTIONS, OFFERS EXTENSIVE ART SERVICES. AS ART IS NOW CONSIDERED TO BE AN ALTERNATIVE INVESTMENT, AND NOT SIMPLY AN AESTHETIC PLEASURE, BANKING HAS ENTERED VERY FORCEFULLY IN THE COMPETITION TO PROVIDE ART LENDING SERVICES TO HELP BOTH COLLECTORS AND INSTITUTIONS HELP NAVIGATE THE COMPLEX ART WORLD.

RECENTLY U.S. TRUST, THE PRIVATE BANKING ARM OF BANK OF AMERICA,  PUBLISHED AN EXTREMELY COMPREHENSIVE ANALYSIS ON THE STATE OF THE CURRENT ART MARKET. IN A TIME OF TURMOIL AND CHANGE, GENERAL REEVALUATION AND A GLOBAL SHIFT IN THE ART MARKET, IT IS PARTICULARLY RELEVANT AND THE LRFA BLOG IS PLEASED TO SHARE IT WITH YOU. WE ARE DELIGHTED, AS WELL, TO REPORT THAT DANA PRUSSIAN, VICE PRESIDENT AT U.S. TRUST ART LENDING SERVICES, WILL BE CONTRIBUTING TO THE LRFA BLOG IN THE MONTHS AHEAD.

PART ONE

“We feel that you should not buy art purely as an investment. Buy it for love, desire, legacy, culture, pleasure, addiction,

status, and community.”

Art Services Market Update

At Bank of America Private Bank, we maintain a sharp focus on the art market and on the collectors, dealers, auctions specialists and institutions that make it function. We work closely with many of you across four pillars: art lending, art planning, consignment services and institutional arts endowment management. This update features our observations on the current state of the art market from a business perspective.

The Market

  • Current low interest rates, solid equity markets and more stratified wealth creation worldwide continues to drive capital toward art. The maturation and globalization of the art market has expanded the collector base and transformed the art market from a niche lifestyle into a $60 billion global industry.1 Still, overall art market growth in terms of total art sales has stalled since 2012, even as the S&P 500has currently more than doubled since that time.
  • If the Federal Reserve (Fed) continues its dovish policy, we expect collectors’ continued allocation of capital to art. When interest rates fall, the opportunity cost of holding non-interest-bearing assets like art goes down. The art market is driven by sentiment, so the greatest risk we see is a geopolitical event that impedes the global flow of capital and credit prompting collectors to pause.

• We anticipate that financial returns for contemporary art will be lower in the next decade than some may expect. The market has absorbed a lot of art since the turn of the century. An exceedingly large percentage of those works may be worth close to zero in a generation or so. And because we’re in a more mature and efficient art market, there may be fewer upside surprises than in decades past. We feel that you should not buy art purely as an investment. Buy it for your passion, enjoyment, legacy, culture, status or community.

The Auctions

• During the New York Spring Auctions, the market absorbed over $2 billion of art at Christie’s, Sotheby’s and Phillips, handily above the $1.6 billion pre-sale estimate. It was the first auction season defined by large estates of postwar
and contemporary art. Eye-catching results such as the $91 million Koons “Rabbit”, the $110 million Monet “Haystack” and the rapidly growing market for KAWS belie a more modest 5.1% annualized return2 achieved for repeat sales during the season. Given the recent performance of London auctions and the lack of clarity around a Brexit deal, New York will continue to be the premiere sale site for high-end postwar and contemporary art for the foreseeable future. Fresh-to- market works, typical of the artist’s oeuvre, in good condition, with strong provenance, continue to perform strongest at auction. Works by female and black artists also continue their rise.

• You likely saw that in June, Sotheby’s accepted a $3.7 billion buyout offer from French media entrepreneur Patrick Drahi. Interestingly, Bonhams was also bought out earlier this year. Going private will allow Sotheby’s more flexibility to compete for top lots, which will benefit major collectors, and will provide time and space to evolve its business model, which, like Christie’s, is challenged. Competition for top pictures has become a race-to-the-bottom: China isn’t the growth engine everyone hoped it would be, and online sales have yet to deliver meaningful scale or margin expansion. With business margins at around 10% for the industry, auction houses are officially on the hunt for new revenue streams.

• Look for the auction houses to continue to expand into art advisory, financial services, brand licensing and even investment research as they look beyond their supply-constrained auction business. As a collector, you may see better terms when consigning top works at auction, but expect higher commissions for lower- value works. Buyer premiums will continue to expand at all levels. Finally, get ready for more convenience. Virtual reality will change how you view upcoming sales, and artificial intelligence will soon be sending you an endless array of Netflix-style lot recommendations across all categories based on what you’ve perused across the internet.

Salthaus, on top of the wellness mountain, with co-founder Amber Berger

HEALTH REFERS TO THE ABSENCE OF ILLNESS. WELLNESS REFERS TO NOT JUST PHYSICAL HEALTH BUT EMOTIONAL AND SPIRITUAL . IMPROVING YOUR ‘HEALTH AND WELLNESS’ GENERALLY REFERS TO PROMOTING GOOD HEALTH AND REDUCING RISK OF DISEASE WITH A HOLISTIC APPROACH WHICH TAKES INTO ACCOUNT MANY FACTORS INCLUDING PHYSICAL AND EMOTIONAL ISSUES. IN AMERICA TODAY, TO COUNTERACT THE EFFECTS OF A 24/7 LIFE AND WORK STYLE, AN OVERLY OBSESSIVE PREOCCUPATION WITH KEEPING UP WITH SOCIAL MEDIA AND THE INHERENT RESPONSIBILITIES OF A CAREER, FAMILY AND SOCIAL OBLIGATIONS, THERE ARE A HUGE AMOUNT OF PROGRAMS TO ADDRESS THESE ISSUES THAT INCLUDE YOGA, MEDITATION, TREATMENTS AND MASSAGE, TO NAME JUST A FEW.

A RELATIVE NEWCOMER TO NEW YORK IS HALOTHERAPY, AN INNOVATIVE BUT ANCIENT CONCEPT OF THE BENEFITS OF INHALING SALT.  IMPECCABLE IN DESIGN, AND VERY MUCH A HANDS-ON OPERATION, SALTHAUS IS AN EXCEPTIONAL WAY TO RENEW ONE’S BODY AND SPIRIT TO GO OUT AND CONQUER THE WORLD.

TODAY, WE ARE DELIGHTED TO HAVE AMBER BERGER, CO-FOUNDER OF SALTHAUS, HERE TO DISCUSS HER PLANS FOR PROVIDING HALOTHERAPY TO ADULTS AND CHILDREN NOW AND IN THE FUTURE. THE LRFA BLOG HAS NO DOUBT SHE WILL SUCCEED IN HER MISSION.

https://www.salthausny.com/

 

WHAT ARE SOME OF THE BENEFITS OF HALOTHERAPY?

The benefits of Halotherapy are profound which include:

reduces stress and anxiety

strengthens immunity

relieves skin conditions

regulates sleep

boosts athletic recovery

Halotherapy benefits adults and children alike as well as athletes and animals. It is a 100% natural treatment and is very beneficial for overall wellness by removing the toxicity from the respiratory system, improving the function and appearance of the skin and boosting the immune system. For general respiratory hygiene, once or twice a week sessions will enhance the lung capacity, boost the immune system, reduce stress and aid in better sleep.

YOU HAVE AN IMPRESSIVE TRACK RECORD ALREADY IN MARKETING AND BRANDING SALTHAUS?  WHAT ARE SOME OF YOUR ACHIEVEMENTS SO FAR?

You are too kind. I am learning as I go! Market awareness is our greatest challenge since we are solely relying on Instagram and word of mouth. It is amazing to watch how the word starts to spread. We want to help people feel their best through the power of salt and once you come, it is an experience not to forget. Our bodies are craving tranquility now more than ever and the salt allows you to relax and detox as never before.  We have wins every day when people come in off the street curious about Halotherapy.

WHAT ARE YOUR GOALS?

Our goal is to be where you live, where you work and where you travel. I hope you will see Salthaus and immediate think of it as your  weekly happy place to feel your best.

WHAT DO YOU HOPE TO TEACH YOUR CHILDREN ABOUT HEALTH AND WELLNESS?

I firmly believe in leading by example. I hope that my kids take away from me that you are in charge of your health and that it does not always come naturally. The best things in life take work and it could not be more true when it coms to your health. Health is #1 and should always be your top priority. Adding self-care practices into your daily routine is a great place to start. Start with baby steps and then one day you turn around and see how far you have come.

BEYOND AN ECONOMIC SUCCESS AND EXPANSION, WHAT DO YOU HOPE SALTHAUS WILL PROVIDE OTHERS WHO SHARE IN YOUR PASSION FOR NATURAL PRODUCTS AND WELLNESS?

I hope that Salthaus will be shift people’s view of taking care of themselves. Salthaus is making wellness fun and playful,  weaving it into your daily lifestyle. We aim to empower people to take charge of their health and connect to their body’s needs rather than outsourcing it and opting for medication when it may not be the necessary first step. Salthaus allows you to engage in efficient wellness where you can do two things at the same time like a yoga class or a meeting so you don’t have to sacrifice wellness in order to get it into your day.

AMBER, THANK YOU SO MUCH! THE LRFA BLOG WANTS TO ENCOURAGE EVERYONE IN NEW YORK TO TRY HALOTHERAPY AT SALTHAUS. PRESENTLY IN NEW YORK ON THE UPPER EAST SIDE, AND SOON EVERYWHERE!

SALTHAUS     1220 LEXINGTON AVENUE (between 82nd and 83rd Street, 2A, Telephone (646) 692-8286

IN OUR NEXT LRFA BLOG POST,  WE PLAN TO PRESENT AN OUTSTANDING CURRENT SURVEY OF THE CONTEMPORARY ART MARKET, COURTESY OF U.S. TRUST, A FIRM THAT TAKES A COMPREHENSIVE APPROACH TO WEALTH MANAGEMENT, ESTATE PLANNING  AND PHILANTHROPY FOR EVERY GENERATION AND OFFERS AN INNOVATIVE AND FAR-REACHING ART LENDING SERVICE PROGRAM.

PLEASE, KEEP READING!