Leslie Rankow Fine Arts

INTERNATIONAL ART ADVISORY SERVICE

Christie’s welcomes this spring’s Art Business Conference on March 30th, 2020

Louise Hamlin
Art Business Conference
New York, London, Hong Kong

Returning to New York in March 2020, The Art Business Conference is a one-day conference for art market professionals.

If you’re involved in buying, selling or caring for fine art or antiques – whether you are a gallery owner, manager, art advisor, auctioneer, private collector or professional advisor, this conference will explore the key issues affecting the international art market today.

Through presentations, Q&As, panel discussions, and workshops, industry experts will share advice and insights on many of the key factors in running an art business or collection – including the the latest updates in legislation and taxation.

Christie’s New York

Enroll now for an informative and productive day:

https://www.eventbrite.co.uk/e/the-art-business-conference-new-york-2020-tickets-90201903321

This year’s topics will include:

  • Private Foundations, the collecting journey, legacy and impacting investing
  • Sustainability – exploring how art organizations can be more sustainable
  • Recruitment – how to find, train and retain the best art world candidates
  • Important updates on AML5 – this is now officially law in the UK & EU (as of Jan 10) and is relevant to any US business with UK or European clients.  This session will present an overview of the law and the guidelines for implementing business practice for your art business.
  • Inside the collector’s head – the neuroscience and behavioral economics of art collecting.
  • Pictures Never Lie? The Use and Misuse of the Latest Imaging Technologies for Examining Paintings.
  • The language of Art & Technology – what are API’s and how are they applicable to the art market?

The roster of speakers is impressive, to say the least, covering a range of timely subjects. To highlight just a few of the speakers, the Art Business Conference New York 2020 features the director of a Foundation in Dubai that brings Western art to the Middle East, an influential collector and gallerist in New York and Los Angeles, a collector and scholar of export porcelain and neurologist who shares her insights on the psychological motivations of the collector, an expert on Art Law and Luxury Assets recognized by the leading legal directories and praised for her “great technical knowledge of the issues”, and an expert in the scientific analysis of fine arts focusing on questions of attribution, authenticity, preservation and provenance.

 

Deborah Najar

DEBORAH NAJAR

Deborah is the Founder of the JPNF (Jean-Paul Najar Foundation), a museum for Contemporary Art located in Dubai’s Alserkal Avenue.  Among the first non-profits in the UAE, the JPNF came about as a partnership with Alserkal Avenue, from a desire to offer a diverse artistic experience, with strong emphasis on patronage, archives and western abstraction. The JPNF is a museum of contemporary art that is home to a collection of European and American abstract art from the 1960s through today. It is also the custodian of a remarkable archive tracing forty years of artist-collector exchanges.

Adam Lindemann

ADAM LINDEMANN

Adam is best known as a taste-maker in collecting and investing in contemporary art and design. He operates Venus Over Manhattan, the influential gallery devoted to iconoclastic exhibitions both historic and contemporary. He has been a featured commentator in several documentaries and interviews relating to collecting and art, including recent features on the BBC, Charlie Rose, and Reuters. He lives and works in New York City.

Shirley Mueller

SHIRLEY MUELLER

Shirley M. Mueller is a collector and scholar of Chinese export porcelain as well as a physician board-certified in Neurology and Psychiatry.  The latter expertise led her to explore her own intentions and emotions while collecting art, which, she discovered, have broader applications.  This new understanding was the motivation for her recent book, Inside the Head of a Collector:  Neuropsychological Forces at Play.

Amanda Gray

AMANDA GRAY

Amanda is a Partner in Mishcon Private at Mishcon de Reya, specialising in Art Law and the related field of Luxury Assets.  She is valued by her clients for her commercial, flexible approach and depth of knowledge across a diverse range of legal problems faced by those operating within the art market and luxury assets fields. Amanda works on both contentious and non-contentious matters including, but not limited to, disputes arising over all due diligence matters (for example title, authenticity, attribution and condition) contractual  disputes and special project work concerning arts and cultural property.

Jennifer Mass

JENNIFER MASS

Jennifer L. Mass is President of Scientific Analysis of Fine Art, LLC (SAFA) and the Andrew W. Mellon Professor of Cultural Heritage Science at Bard Graduate Center. She formed SAFA in 2007 because of a growing need for the objective material assessment of objects in the art market to complement the expertise of the connoisseur and the conservator.  Her work at SAFA allows her to assist art collectors, dealers, auction houses, and private conservation firms in addressing questions of attribution, authenticity, state of preservation, provenance, and mechanisms of degradation.

In the Business Pavilion, you can meet speakers and our exhibitors to continue the discussions and expand your art business network.

Ticket prices include entry to all sessions, breakfast networking, refreshments, lunch and post-conference networking drinks.

See you on March 30th!

Save the Date: The Art Business Conference returns to New York on March 30, 2020

Louise Hamlin
Founder and Director
Art Business Conference
London, New York, Hong Kong

2020 DATE AND NEW VENUE ANNOUNCED FOR THE FOURTH EDITION OF THE ART BUSINESS CONFERENCE IN NEW YORK

THE ART BUSINESS CONFERENCE LAUNCHED IN LONDON IN 2014, IN NEW YORK IN 2017 AND IN SHANGHAI IN NOVEMBER 2018. ENTERING ITS SEVENTH YEAR, ITS MISSION IS SIMPLE: TO BE THE LEADING ANNUAL CONFERENCE FOR ART PROFESSIONALS INCLUDING ART ADVISORS, COLLECTORS, AUCTIONEERS, DEALERS, GALLERIES, INSURERS, SHIPPERS AND LAWYERS, OFFERING IN-DEPTH KNOWLEDGE AND GUIDANCE ON CHANGES WITHIN THE GLOBAL ART MARKET, PLUS THE LATEST UPDATES IN LEGISLATION AND TAXATION.

The Art Business Conference Networking

IN 2019, THE ART BUSINESS CONFERENCE IN NEW YORK WAS ATTENDED BY OVER 250 ART MARKET PROFESSIONALS REPRESENTING OVER 125 ART ORGANIZATIONS FROM THE UK, EUROPE, MIDDLE EAST AND USA. THE LATEST CONFERENCE WAS HELD IN LONDON IN SEPTEMBER 2019 AND WELCOMED JUST UNDER 400 ATTENDEES.  THE LRFA BLOG IS VERY MUCH LOOKING FORWARD TO THE MARCH 30th ART BUSINESS CONFERENCE IN NEW YORK AT A PERFECT LOCATION: CHRISTIE’S FLAGSHIP GALLERIES AT 20 ROCKEFELLER PLAZA (49th STREET BETWEEN 5/6th AVENUES).

https://www.theartbusinessconference.com/nyc/the-event/

 

The one-day conference for art market professionals will comprise a full day of lively panel discussions, informative presentations and Q&A’s, all in the heart of Manhattan.

The leading platform for the discussion of key issues in today’s global art market, the conference will bring together industry experts from all facets of the art world, providing a 360-degree perspective on major developments within the trade and offering delegates the opportunity to establish new contacts in the industry.

Louise Hamlin, founder & director of The Art Business Conference says, “I am delighted that the Art Business Conference will be returning to New York for the fourth year and to be partnering with Christie’s. The conference will be held in Christie’s main salesroom, the James Christie room, which is not only an iconic art world setting, but also an opportunity for us to accommodate a growth in our attendee base from across the US, UK, Europe, Asia and the Middle East. Last year over 250+ art professionals and collectors attended.”

 

IN THE NEXT LRFA BLOG, THE TOPICS AND SPEAKERS WILL BE HIGHLIGHTED. THEY COVER A WIDE RANGE OF SUBJECTS INCLUDING THE NEW ANTI-MONEY LAUNDERING DIRECTIVE, THE SCIENCE AND ECONOMICS OF COLLECTING, SUSTAINABILITY AND THE FINE ART OF RECRUiTMENT, PLUS THE LATEST UPDATES AND TRENDS IN DATA, TECHNOLOGY, AND CONSERVATION SHAPING THE ART MARKET TODAY.

Christie’s New York
Rockefeller Center

SIGN UP NOW! A NOT-TO-BE-MISSED EVENT.

To register please visit: https://artbusinessconferencenewyork2020.eventbrite.co.uk

To register interest for further press enquiries please contact:

Louise Hamlin (Director & Founder)

email: louise@artmarketminds.com

Tel: +44 (0) 7508 231 241

The future of the art market with Dana Prussian, Art Lending Service, Bank of American Private Bank

Dana Prussian
Art Lending Services
Bank of America Private Bank

THE ART BASEL AND UBS GLOBAL MARKET REPORT, AUTHORED BY THE RENOWNED CULTURAL ECONOMIST, DR. CLARE McANDREW, WHO FOUNDED THE RESEARCH CONSULTING FIRM FOCUSED EXCLUSIVELY ON THE ART ECONOMY IN 2005, REPRESENTS THE PINNACLE OF ART MARKET RESEARCH AND ANALYSIS. THE 2019 REPORT PROVIDED 5 KEY INSIGHTS INTO THE ART MARKET PINPOINTING A 6% INCREASE IN GLOBAL ART SALES WORLDWIDE, ACTIVE BUYING BY MILLENNIALS  AND A GROWING PARTICIPATION IN ONLINE SALES AS LEADING INFLUENCES IN THE CURRENT ART MARKET.

HERE ARE THEIR FIGURES:

Art Basel

1. The US retained its position as market leader

In 2018, the US sustained its position as the world’s largest art market, accounting for 44% of sales by value – or a total of $29.9 billion, the highest recorded level to-date. The UK regained its position as the second-largest market at 21%. China was the third largest market at 19%, with sales reaching $12.9 billion – a decline of 3% year-on-year.

2. Millennials emerged as active market participants

“A very positive finding of the research this year was the dynamism in collecting by global millennials.While respondents in the US were predominantly aged 50 and above, in Singapore, 46% of collectors surveyed were millennials, while in Hong Kong the figure was 39%. Collectively, millennials accounted for just under half (45%) of high-end spenders, underlining the importance of this demographic.

3. The online market witnessed continued growth

The online market reached an estimated new high of $6 billion in 2018, representing 9% of global sales – up 11% year-on-year.

4. Auction figures rose 3% year-on-year

While economic and political issues drove risk-averse buyers and sellers towards private sales in the dealer market, sales of fine and decorative art and antiques at public auction still rose in value, reaching $29.1 billion. High-value works had the greatest impact on this sum, accounting for 61% of total sales by value.

5. Art Fairs continued to shape the global market

Art fairs continued to play a central role in the global art market, with aggregate sales estimated to have reached $16.5 billion in 2018 – up 6% year-on-year. The share of the total value of global dealer sales made at art fairs was 46%.

https://www.ubs.com/global/en/our-firm/art/2019/art-basel.html

 

Lee Krasner
Free Space Blue, 1975

AT BANK OF AMERICA PRIVATE BANK, ART LENDING SERVICES, DANA PRUSSIAN, VP, HAS AN INSIDER’S VANTAGE POINT IN TRACKING THE EBB AND FLOW OF THE ART MARKET FROM THE PERSPECTIVE OF THE INDIVIDUAL COLLECTOR, DEALERS, AND ART AND CULTURAL INSTITUTIONS.

https://www.privatebank.bankofamerica.com/solutions/individuals-families/art-services.html

DANA, A WARM WELCOME BACK.

HOW DO YOU SEE THE CURRENT ART MARKET?

Even though total art sales has slowed since 2012, we’re still seeing a strong art market. Low interest rates and stratified wealth creation worldwide continue to drive capital toward art. The art market is ultimately driven by sentiment, so the greatest risk is a major geopolitical event that impedes global capital flow.

John Chamberlain
Chinati Foundation
Marfa, Texas

HOW DO YOU ANTICIPATE THE ARCH OF THE ART MARKET OVER THE NEXT FEW YEARS? DO YOU SEE A RETURN TO THE GALLERY SYSTEM OF THE PAST AND A RESURGENCE OF SMALLER GALLERIES OR FURTHER EXPANSION OF THE “UBER” GALLERIES?

We should keep our eye on how technology changes the landscape (online sales have yet to deliver meaningful scale or margin expansion), art fair fatigue, and new revenue opportunities for the major auction houses. I think the future of the gallery system will be based, in large part, on how a current push-pull resolves itself over the next decade.

The mega galleries, particularly the big 4 featured in Michael Shnayerson’s Boom (Gagosian, Hauser & Wirth, Zwirner, and Pace), are at a critical juncture. They are currently expanding their global footprints-and Chelsea footprints- in a big way. At the same time, the mega dealers who have built these empires are not getting any younger. We will have to see what their succession plans look like. With Pace, the Glimchers will look to next-of-kin, Marc. With Gagosian, Larry could be looking to Andrew Fabricant. It will be interesting to see how it all plays out. 

Evan Robarts
Untitled Tenant, 2015
Bruce Wolkowitz Gallery

DO YOU COLLECT YOURSELF?

Working on it! One of the many things I love about my fiancé, Joel, is that he was interested in art well before I met him in 2015. He owned a mix of prints and lithographs by Miro, Sam Francis, and Dali, all of which we brought with us when we moved into an apartment together. Since then, we have acquired a few pieces together, most recently a massive Evan Robarts Mop Painting from Bryce Wolkowitz Gallery. It’s a wonderfully textural black and white on linoleum from his Super Reliable series.   

Helen Frankenthaler
Mnuchin Gallery: The Art of Marriage

WHO ARE SOME OF THE ARTISTS THAT YOU WISH YOU OWNED?

A Chamberlain crushed steel sculpture is at the top of my list. Before he passed away, I had the chance to see Chamberlain at work in his Shelter Island studio, which is an experience that I will never forget. Of course, we are in the age of identity, so I would love to start a female collection: Grosse, Krasner, Frankenthaler…I would weep with happiness! Also Shantell Martin. I met her this summer at the Parrish Midsummer Party. She’s simply the coolest. 

Shantell Martin
New York City Ballet commission

DANA, THANK YOU SO MUCH! THE LRFA BLOG IS SO APPRECIATIVE OF YOUR INSIGHTS.

BANK OF AMERICA PRIVATE BANK, ART LENDING SERVICES, IS NOT ONLY ATTENTIVE TO THE FINANCIAL ASPECTS OF ACQUIRING, COLLATERALIZING AND DEACCESSIONING ART BUT ALSO TO THE IMPORTANT PLACE THAT CULTURAL AND CONSERVATION PROJECTS ARE IN THE CURRENT ART WORLD.

 

Katharina Grosse
Hamburger Bahnhof – Museum für Gegenwart – Berlin

 

 

The Bank of America Private Bank Art Conservation Project, with Art Lending Services VP, Dana Prussian

 

Dana Prussian Art Lending Services, Bank of America Private Bank

 

BANK OF AMERICA PRIVATE BANK OFFERS EXTENSIVE ART LENDING SERVICES. AS WELL AS COLLATERALIZING ART COLLECTIONS, THE BANK HELPS COLLECTORS TO DESIGN ESTATE PLANS THAT TAKE INTO CONSIDERATION THE VALUE OF THEIR ART COLLECTIONS, BOTH AS AN ALTERNATIVE ASSET AND AS A LEGACY. THEY ASSIST IN THE CONSIGNMENT PROCESS FOR A SALE OF A WORK OR A COLLECTION AT AUCTION. APART FROM THE ART OF THE BUSINESS OF ART, BANK OF AMERICA PRIVATE BANK HAS A TRULY IMPRESSIVE RANGE OF PHILANTHROPIC ENDEAVORS THAT SUPPORT MUSEUM EXHIBITIONS, ART PANELS AND LECTURES, ART FAIRS AND ART CONSERVATION.

ART AND CULTURE

Bank of America believes the arts matter: they help economies thrive, help individuals connect with each other and across cultures, and educate and enrich societies. We support more than 2,000 visual and performing arts organizations worldwide that provide inspirational and educational sustenance, anchor communities, create jobs, complement school curricula, and generate substantial revenue for local businesses.

Vincent van Gogh
Starry Night
MoMA Collection

BANK OF AMERICA ART CONSERVATION PROJECT

We are pleased to present the 2019 Bank of America Art Conservation Project grant recipients. In reviewing the twenty-two projects, we are reminded of the tremendous need for art conservation in cultural institutions across the globe. And we are honored and proud to help these institutions and others preserve their treasures for generations to come.

With this year’s selections, we will have provided funding for more than 170 projects in thirty-three countries, representing thousands of works across different art movements, media and time periods- and, importantly, cultures. All the works we help to conserve share one thing in common however. They reflect the creativity, ingenuity and passion of people throughout the world over hundreds, even thousands, of years.

TODAY, THE LRFA BLOG IS DELIGHTED TO WELCOME BACK DANA PRUSSIAN, VP, ART LENDING SERVICES, BANK OF AMERICA. HER BACKGROUND IN BOTH ART AND FINANCE MAKES HER THE PERFECT FIT FOR THIS PROFESSION AND HER ACADEMIC AND PROFESSIONAL STEPS WERE KEENLY FOCUSED ON THIS DREAM JOB SINCE THE BEGINNING.

DANA, WELCOME BACK TO THE LRFA BLOG!

HOW DOES BANK OF AMERICA PRIVATE BANK COMPETE IN THIS HIGHLY CHARGED MARKET WITH SOME OF THE OTHER ART SERVICE COMPANIES, EITHER AT BANKS AND INVESTMENT FIRMS OR PRIVATE SPECIALIZED COMPANIES?

Paul Cezanne
The Bather
MoMA Collection

Let’s just say I followed Bank of America’s progress veryyyy closely and jumped the minute they opened a role. 😉

WHAT ARE THE CRITERIA FOR COLLECTORS LENDING AGAINST COLLECTIONS TO UNLOCK CAPITAL?  HAS THAT CRITERIA CHANGED OVER THE YEARS TO REFLECT THE GAINS AND GLOBALIZATION OF THE ART MARKET AND IN WHAT WAYS?

Our criteria has not changed much over the years (collectors need a certain sized collection with both commercial and diverse works and a robust balance sheet), but appetite for art lending has expanded greatly. Since interest rates have been hovering around historic lows, more clients are looking to use this as a balance sheet arbitrage, unlocking capital from art to redeploy into higher-return areas of their financial lives. We have also seen more clients use art loans as working capital lines to expand privately held companies. Since the elimination of the 1031 Like-Kind Exchange in 2017, it has also become prevalent to leverage art to generate liquidity.

WHAT ARE WAYS IN WHICH AN ART COLLECTION CAN DIVERSIFY A PORTFOLIO?

We never recommend that a client start an art collection as an investment or a way to diversify his portfolio. Passion comes first. Once someone has been bitten by the collecting bug (it’s real), they should consider whether their collection fits into their estate plan and how they want to manage it over time. It’s still quite common to see rising collectors go to great lengths to prove they’re not simply investors, whether it’s by marketing themselves quietly to dealers or acquiring non-commercial works to round out their collections.

Pablo Picasso
Three Musicians
MoMA Collection

BANK OF AMERICA PRIVATE BANK SUPPORTS A GREAT MANY MUSUEM EXHIBITIONS, ART PANELS, ART EDUCATIONAL EVENTS. WHAT ARE SOME OF THE HIGHLIGHTS THAT WERE THE MOST INTERESTING OR EFFECTIVE?

Bank of America provides unbelievable support to museums and art institutions worldwide. We get to reap those benefits by helping deliver unique experiences and programming to our collectors. You probably saw that we sponsored the reopening of MoMA and the conservation of Starry Night and other iconic works. We took small groups of collectors through MoMA’s Conservation Lab while the museum was closed so they could see these works off the wall, unframed, and under a microscope. Cezanne’s The Bather, Van Gogh’s Starry Night, Picasso’s Three Musicians. I was blown away. So were our clients. In Paris BofA sponsored the Da Vinci exhibit at the Louvre and hosted a small private group. 

SOME OF THE OTHER 2019 CONSERVATION PROJECT BENEFICIARIES INCLUDE “SPRING” IN THE COLLECTION OF THE GEORGIA O’KEEFFE MUSEUM IN SANTA FE. THIS LARGE-SCALED WORK REPRESENTS A TURNING POINT IN O’KEEFFE’S LIFE AT A TIME WHEN SHE HAS THE NEWFOUND FREEDOM TO MOVE PERMANENTLY FROM NEW YORK TO SANTE FE. THE WORK INCORPORATES ALL OF THE ICONS EVOCATIVE OF NEW MEXICO: LANDSCAPE, BONE AND FLOWER.

Georgia O’Keeffe Spring, 1948

AND WERE AS FAR-RANGING AS THE RESTORATION OF THREE TAPESTRIES BY MARLENE DUMAS, “THE BENEFIT OF THE DOUBT”, IN THE CONSTITUTIONAL COURT ART COLLECTION IN JOHANNESBURG, SOUTH AFRICA. THE TRIPTYCH CONSISTS OF THREE FIBER WORKS WEIGHING APPROXIMATELY 620 POUNDS, AND A ROBUST PRESERVATION-APPROPRIATE HANGING SYSTEM WAS DESIGNED FOR PERMANENT DISPLAY.

 

Marlene Dumas
The Benefit of Doubt
Tapestry Triptych

IN OUR NEXT LRFA BLOG, DANA WILL SHARE HER ASTUTE PERCEPTION OF THE CURRENT AND FUTURE ART MARKET. TUNE IN THEN!

 

 

Dana Prussian, VP Art Services, Bank of America Private Bank: a focused career path

Dana Prussian
VP, Art Services, Bank of America Private Bank

 

ON MAY 30, 2018, WEALTH MANAGEMENT.COM FEATURED AN ARTICLE ON THE NOW ESTABLISHED INCLUSION OF ART AS AN ASSET CLASS.

AT CHRISTIE’S, THE COLLECTION OF PEGGY AND DAVID ROCKEFELLER SET A RECORD HIGH FOR THE MOST VALUABLE PRIVATE COLLECTION   SOLD AT AUCTION AT $833 MILLION.

n.b. Gathered over a lifetime and handed down from previous generations, the collection reflects the Rockefeller family’s deep, life long passion for Impressionist works of Art, American paintings, English and European furniture, Asian works of art, European ceramics and Chinese porcelain,  silver, and American decorative arts and furniture. What was a passion for collecting for pure aesthetic joy has been transformed into a philanthropic legacy. The proceeds from the Estate sale at Christie’s have gone to support selected charities in which the Rockefellers believed. 

Peggy and David Rockefeller sale
Christie’s New York

“THE VIGOROUS BUYING THIS WEEK FOR EVERYTHING FROM A MONET TO A MONEY CLIP … SURPRISED MANY ART EXPERTS,” ACCORDING TO A NEW YORK TIMES REPORT ON THE AUCTION.

INDEED, A CONVERGENCE OF FACTORS IN RECENT YEARS HAS GENERATED HIGHER INTEREST IN ART AS AN ASSET THAT HAS THE POTENTIAL TO APPRECIATE: INTEREST RATES AT HISTORIC LOWS, STOCK MARKET VOLATILITY, TECHNOLOGY CREATING INCREASED TRANSPARENCY IN THE ART MARKET AND INCREASED INTEREST IN ART GLOBALLY, AMONG OTHERS.

ALTHOUGH DEMAND FOR ART FLUCTUATES, WITH DIFFERENT AREAS OF THE ART MARKET EXPERIENCING VARYING LEVELS OF DEMAND, THE GROWING TREND OF VIEWING ART AS AN ASSET CLASS HAS MEANT INCREASED INTEREST AMONG WEALTH MANAGEMENT PROFESSIONALS. NEARLY 90 PERCENT OF WEALTH MANAGERS SAID THEY THINK ART AND COLLECTIBLES SHOULD BE INCLUDED IN WEALTH MANAGEMENT OFFERINGS, ACCORDING TO THE DELOITTE 2017 ART & FINANCE REPORT.

https://www.wealthmanagement.com/high-net-worth/art-asset-class

Christie’s Education

IN TODAY’S LRFA BLOG POST, WE ARE FASCINATED TO FOLLOW DANA’S ASTUTE ACADEMIC AND PROFESSIONAL JOURNEY REFLECTING BOTH HER PASSION AND HER COMMITMENT TO MASTERING THE ART OF FINANCE.  IN TODAY’S WORLD, MANY PRIVATE AND PUBLIC BANKS AND FINANCIAL INSTITUTIONS HAVE DIVISIONS SPECIALIZING IN OFFERING LOANS AND ADVISE ON COLLECTING, THE BANK OF AMERICA BEING ONE OF THE MOST OUTSTANDING. MANY UNIVERSITIES AND AUCTION HOUSES OFFER CLASSES AND DEGREES. CHRISTIE’S, FOR EXAMPLE,  OFFERS A GRADUATE DEGREE: MASTERS IN ART, LAW AND BUSINESS.

https://www.christies.edu/new-york/courses/degree/masters/art-law-business

A FEW YEARS AGO WHEN DANA WAS STILL IN SCHOOL, SHE WAS A PIONEER AND CARVED OUT HER OWN ACADEMIC PATH TO GAIN RECOGNITION AS A FINANCIAL ADVISOR TO INDIVIDUALS AND FAMILIES OF HIGH NET WORTH.

DANA, THE LRFA BLOG WARMLY WELCOMES YOU BACK.

WERE YOU COMMITTED TO THE IDEA OF COMBINING ART AND FINANCE FROM THE BEGINNING OR DID THE IDEA EVOLVE AS YOU PROGRESSED IN SCHOOL AND PROFESSIONALLY?

Yes, pretty much. That said, when I graduated, the idea of “Art as an Asset Class” was only just taking shape. It certainly was not institutionalized like it is now. I knew that I wanted to jump onto that track as soon as possible, but was not sure how long it would take.

WHAT WAS YOUR FIRST POSITION AND DID IT COMBINE YOUR TWO AREAS OF EXPERTISE?

It had nothing to do with the art world! I had just come out of a Christie’s internship when I graduated, and I knew that if I wanted to work in the Art Finance sphere, I needed the Finance component. I knew nothing about finance! Like one Columbia Econ class, nothing. So I got into a two-year rotational analyst program at Barclays, which gave me a necessary understanding of financial products.  

A SELF-MADE MAN, HENRY PHIPPS UNDERSTOOD THE CHALLENGES INVOLVED IN CREATING WEALTH. AS A FOUNDING PARTNER AND CHIEF FINANCIAL OFFICER OF CARNEGIE STEEL, HIS INNOVATIONS MATCHED HIS WORK ETHIC. HE ALSO UNDERSTOOD THE CONNECTIONS BETWEEN COMMUNICATING AND SUSTAINING VALUES, AND GROWING AND PRESERVING WEALTH FOR HIS FAMILY. PHIPPS FOUNDED BESSEMER TRUST WITH THIS CONNECTION IN MIND. HE COMMUNICATED HIS INTENTIONS AND GUIDANCE TO EACH OF HIS CHILDREN, URGING THEM TO SPEND WISELY AND WORK COLLABORATIVELY TO PRESERVE AND MAINTAIN THE FAMILY’S WEALTH AND VALUES FOR GENERATIONS TO COME.

https://www.bessemertrust.com/what-makes-us-different/key-facts

YOU WERE AT BESSEMER TRUST FOR OVER THREE YEARS. HOW DID THEY GROOM YOU FOR YOUR CURRENT POSITION?

Bessemer was the perfect intermediary step to my transitioning into Art Services. The advisors and culture are truly crème de la crème, and I was fortunate enough to be part of an incredibly motivated team. Working as a Client Advisor there taught me three invaluable skills: how to hustle and grow a book of business, what it looks like to provide exceptional client service, and how to look at a balance sheet holistically. I worked with several art collectors who were part of our book, and by the end of my time at Bessemer, I knew that I had the skill set to serve a super sophisticated group of collectors and focus solely on the art on their balance sheets. I ultimately left Bessemer because, in the time I was there, the concept of “Art as an Asset Class” took shape more formally and there was a new spot open at Bank of America Private Bank.   

WHAT ARE YOUR RESPONSIBILITIES IN THE ART SERVICES DIVISION AT BANK OF AMERICA PRIVATE BANK?

I’m one of two VPs of Art Services on the team. The two of us have divided the country in half and lead Art Lending and Consignment efforts for our markets. I focus on our NYC market in addition to Miami, Palm Beach, Dallas, Houston, DC, and Long Island. You can imagine, that’s a lot of art collectors and internal advisors to cover!

HOW DID THE PROGRAM DEVELOP? WHEN WAS IT INITIATED AND HOW HAS IT GROWN AND CHANGED SINCE ITS ONSET?

In 2015, the Private Bank (formerly US Trust) hired Deloitte to implement a strategy that would serve our clients and their art collections. The head of that consulting project came on board as our National Arts Services Executive, and he built out the program from there. In the last four years, our team has grown our Art Lending book from $2 billion to $8 billion. We’re now the largest art lenders in the country.

 

Bank of America
Art Services
Panel Discussion

WHAT IS THE SCOPE OF SERVICES THAT YOU OFFER COLLECTORS AND INSTITUTIONS?

We are obviously highly focused on art lending, but we have expanded our services beyond lines of credit. We offer the only Consignment Services platform at a private bank, so we can act as agent for a client who wishes to sell at auction. We negotiate everything from enhanced financial packages to sales and marketing strategies.

IN OUR NEXT LRFA BLOG POST, DANA PRUSSIAN WILL SHARE WITH US THE WORKING OF THE ART SERVICES DIVISION AT BANK OF AMERICA PRIVATE BANKING. THANK YOU, DANA, AND THANK ALL THE FOLLOWERS OF THE BLOG FOR YOUR CONTINUED INTEREST!

Introducing Dana Prussian, Bank of America Private Bank Art Services, combining business acumen and a passion for art

Dana Prussian
VP, Art Services, Bank of America Private Bank

IN MARCH 2016, THE NEW YORK TIMES PUBLISHED A STUDY ON A TREND IN THE ART MARKET WHICH HAS BEEN ON THE RISE  FOR AT LEAST THE LAST DECADE: ART AS AN ALTERNATIVE ASSET AND AS COLLATERAL FOR A LOAN.

Highlights from

ART AS COLLATERAL IN A FICKLE MARKET, Scott Rayburn, March 7, 2016, New York Times

Art and money have long been closely linked, but in the 21st century, it seems, the two have become synonymous.

One way to extract the latter from the former is art-based lending, in which paintings or sculptures are used as collateral for loans. Now that the notoriously fickle and opaque art market is seemingly headed toward a downturn, with money tighter and the prices of many artworks lower, will this kind of niche financing become more attractive to collectors?

Art lenders who have offered full-recourse loans, secured by a range of personal assets, have faced unfavorable publicity. During the financial crisis of 2008-2009, the photographer Annie Leibovitz pledged her four homes and the rights to her images to secure a $24 million loan from Art Capital. She was unable to service the debt, and a high-profile court action ensued.

“This is an opportunity,” Andrea Danese, a co-founder of Athena and the company’s chief executive, said in a telephone interview. Mr. Danese said there was potentially about $150 billion worth of art in private hands that could be collateralized. He identified three groups to whom his company’s products might appeal.

“First, there are billionaires who put the money into private equity deals, where they make 20 to 25 percent,” he said. “Then there are collectors with, say, $30 million of art they leverage to buy another piece. And thirdly there are the art-rich and cash-poor in their 70s and 80s who don’t want to sell because of capital gains or estate taxes.”

But art lenders, like pawnbrokers, can get a boost when markets dip.

THIS UNPRECEDENTED DEVELOPMENT IN THE ART MARKET OVER THE LAST DECADE HAS RESULTED IN A FOCUS ON THE FINANCIAL ASPECTS OF ART. ART IS SEEN NOT ONLY AS AN OBJECT THAT IS AESTHETIC PLEASING OR CHALLENGING AND INTELLECTUALLY FULFILLING BUT ALSO AS A NEW ALTERNATIVE ASSET CLASS OFFERING INTERESTING BUSINESS OPPORTUNITIES. THUS, IT HAS PRODUCED AN OPPORTUNITY FOR EXPERTS IN THE FINANCIAL WORLD WHO ARE INTERESTED IN ART TO ENJOY EXCITING AND INNOVATIVE CAREERS THAT COMBINE THE TWO.

DANA PRUSSIAN, VICE PRESIDENT, ART SERVICES AT BANK OF AMERICA PRIVATE BANK, IS AN IMPRESSIVE, ARTICULATE AND KNOWLEDGEABLE WOMAN WHO IS  APPLYING HER INVESTMENT AND FINANCIAL BACKGROUND AND TRAINING TO ASSIST INDIVIDUAL COLLECTORS  AND ART INSTITUTIONS IN THE ACQUISITION, DONATION AND DEACCESSION ART AND TO USE ART AS AN ALTERNATIVE INVESTMENT VEHICLE.

Linnea in Monet’s Garden

THE LRFA BLOG IS HONORED TO WELCOME DANA PRUSSIAN.

DANA, SO MANY THANKS FOR TAKING THE TIME TO CONTRIBUTE TO THE LRFA BLOG. WHERE DID YOU GROW UP? DID YOU HAVE AN INTEREST IN ART AT AN EARLY AGE AND, IF SO, HOW DID THAT COME ABOUT?

I grew up in Louisville. My parents encouraged me to be active in the arts- I danced with the Louisville Ballet, took acting classes, played the violin. I’m not sure where my interest in fine art came about, though I do remember being obsessed with Linnea in Monet’s Garden when I was very young. Did anyone else have that doll? Book? Video? Childhood affinity for Giverny?

Diego Rivera Industry Murals
Detroit Institute of the Arts

WAS YOUR FAMILY INTERESTED IN OR COLLECT ART?

Not particularly, but my family has always supported the arts, whether it was the symphony, the theater, or the ballet. Much of my extended family lives in Bloomfield Hills, MI, and my aunt was a docent at the Detroit Institute of Arts (DIA) while I was growing up. I vividly remember visiting Rivera’s Detroit Industry Murals and the beautifully intricate Dutch Golden Age paintings.

Gerard der Borch, The Younger
Lady at Her Toilette
Collection of the Detroit Institute of the Arts

WHAT IS YOUR ACADEMIC BACKGROUND?

I moved to New York City 10 years ago to attend Barnard College at Columbia University where I received a degree in both Art History and Political Science. It was really my secondary school that influenced me more than anything. I went to Louisville Collegiate School, which is this very close-knit, traditional college prep school, and I still feel endlessly lucky to have attended. We had a required course, HATA (or, History and the Arts) that was a two-year world history class with corresponding art, dance, music, and religion. It was my first serious exposure to art history and the material was woven in this organic, experiential way. After that course, I moved right into AP Art History, and it was a love story from there. I ended up passing out of the first three levels of art history when I arrived at Columbia. Even though I was so influenced by Collegiate, that there is nothing, NOTHING like being an Art History student in New York City. My senior seminar was at the Met on Monday mornings (the good old days when the Met was closed on Mondays and we essentially had the museum to ourselves), and I vividly remember meeting classmates on the Met steps on crisp autumn mornings, taking class with one of the Met’s curators, and then heading down 5th avenue to Christie’s for my fall internship. You simply cannot replicate that experience anywhere else.

Johannes Vermeer
Young Woman with a Pitcher
Metropolitan Museum of Art

WHAT DID YOU INTEND YOUR CAREER PATH TO BE WHEN YOU FIRST STARTED WORKING?

My exact role, except it did not exist when I graduated!

IN OUR NEXT LRFA BLOG POST, DANA WILL START TO DETAIL HER PROFESSIONAL ROLES THAT LEAD HER TO HER CURRENT POSITION. GREAT INSIGHTS FOR EVERYONE INTERESTED IN COLLECTING OR IN FOLLOWING IN HER FOOTSTEPS!

PLEASE JOIN US!

 

Stronger for Life, a grant finalist!

Dear Followers, Friends and Colleagues who generously donated to the documentary Stronger for Life:

Happy New Year! I thought you would be as pleased as I am to start the New Year with this wonderful piece of news. From the Heart Productions was created over 20 years ago to support independent documentary film making. It is truly an honor for the doc to have made this year’s finalist list. They appoint a new team of judges to determine the winner but, in the meantime, the info on the documentary will be publicized by them to encourage other producers and companies to support financing our post-production costs. As you know, there has been genuine interest on the part of several major figures in the film industry who have expressed interest in seeing the final cut of the film and helping with its marketing and distribution.

Of course, we will keep you posted but in the meantime, thank you all so much– we could never have come this far without your incredible support.

So many thanks,

Leslie

Leslie Rankow/Executive Producer/STRONGER FOR LIFE

Stronger for Life is an honored finalist for the From the Heart Productions/Roy W. Dean Grant featured in their newsletter and on their website to encourage donations from other producers and companies.

 

VIDEO

From Ilaria Montagnani, founder of Powerstrike, on her documentary, STRONGER FOR LIFE

I am excited to announce that the Stronger For Life documentary has been selected as one of 20 finalists in a highly competitive grant process established by From The Heart Productions: Roy M. Dean Grant. In the coming months, ten new judges will be selected to review the finalists’ films and choose the Top 10.
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Because we made it into the 20 finalists, they are offering a feature in the next newsletter, and a year’s exposure on their website, to encourage other producers and companies to donate and fund for additional post production.
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We are currently working on a newer cut and I am looking forward to giving you more updates soon.
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Thank you all. None of this would have been possible without your support.
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Much gratitude,
Ilaria

Special gifts for any season from Gagosian’s rare book expert, Doug Flamm

Marcel Duchamp
Eau & Gaz A Tous Les Etages

IN 2005, THE CENTRE POMPIDOU CURATED  A SURVEY, “THE OBJECT IN THE TWENTIETH CENTURY”, TRACING THE HISTORY OF OBJECTS IN OUR WESTERN PICTORIAL TRADITION.

THE OBJECT HAS APPEARED THROUGHOUT HISTORY SINCE ANTIQUITY. IN THE 16th CENTURY, HOWEVER, THE REPRESENTATION OF INANIMATE OBJECTS BECAME QUITE SEPARATE AS A GENRE IN ITSELF: THE STILL LIFE. SKULLS, MUSICAL INSTRUMENTS, MIRRORS, BASKETS OF FLOWERS AND FRUITS SEEM TO ENCLOSE THE VIEWER IN THE MUTE WORLD OF THINGS.

DUTCH PAINTING IN THE 16TH AND 17TH CENTURIES WAS FULL OF TABLES ARRAYED WITH CRYSTALLINE GLASSES AND PEELED FRUIT, WHILE THE VANITAS BECAME ESTABLISHED IN FRANCE, WHERE A CENTURY LATER THE UNDISPUTED GENIUS OF THE GENRE. CHARDIN, WOULD RISE TO PROMINENCE. THE STILL LIFE WAS ALSO CEZANNE’S PREFERRED REALM OF PICTORIAL PRODUCTION, SINCE IT OFFERS AN INEXHAUSTIBLE REPERTOIRE OF FORMS, COLORS AND DIFFERENT KINDS OF LIGHT. THE CUBISTS WOULD SEE IT AS THE GENRE BEST SUITED TO CONVEY THE QUESTION OF THE REPRESENTATION OF SPACE IN PAINTING. WITH HIS REVOLUTIONARY STILL LIFE WITH CHAIR CANING, AS EARLY AS 1912, PICASSO BROUGHT INTO THE PICTURE A PIECE OF OILCLOTH FOR THE CANING AND AN ACTUAL ROPE TO GIVE MATERIAL PRESENCE TO THE OVAL OF THE CHAIR’S FRAME.

http://mediation.centrepompidou.fr/education/ressources/ENS-Object-EN/ENS-objet-EN.htm

Marcel Duchamp
Eau et Gaz a Tous les Etages

BUT THE RADICAL GESTURE BELONGED TO MARCEL DUCHAMP WHO  TRANSFORMED THE MANUFACTURED EVERYDAY OBJECT, THE READYMADE, INTO A WORK OF ART BY MEANS OF NOTHING MORE THAN HIS DECLARATION THAT IT WAS SO.  PIERO MANZONI’S CONTRIBUTION TO THIS AVANT-GARDE APPROACH INTRODUCED RADICALLY UNCONVENTIONAL MATERIALS  AND IN THE UNITED STATES IN THE SIXTIES, ELLSWORTH KELLY CHALLENGED THE TRADITIONAL DEFINITION AND FORMAT OF PAINTING BY CREATING SHAPED OBJECTS OF PURE FORM AND COLOR.

THANKS TO DOUG FLAMM’S INFORMED EYE, GAGOSIAN GALLERY’S RARE BOOK EXPERT HAS SELECTED THREE VERY SPECIAL BOOKS THAT COVER DIFFERENT PERIODS AND ISMS OF ART BUT SPEAK IN TERMS OF THE UNIQUE VISION OF EACH ARTIST’S AESTHETIC RELATIONSHIP TO THE OBJECT.

MARCEL DUCHAMP

In the concept of the readymade that expanded our parameters of the definition of art, Marcel Duchamp became associated with an assault on the conventional understanding of art’s nature and status. Duchamp also used readymades as parts of a private symbolic language. He spoke of how using prefabricated objects freed him from the ‘trap’ of developing a particular style or taste. Duchamp did very little painting after 1912, creating the first of his “readymades” ‘in 1913. These were ordinary objects of everyday use, sometimes slightly altered, and designated works of art by the artist. His earliest readymades included Bicycle Wheel (1913), a wheel mounted on a wooden stool, and a snow shovel entitled In Advance of the Broken Arm (1915). One of his best-known pieces is a urinal, titled Fountain and signed ‘R. Mutt’

Marcel Duchamp

Eau et Gaz à Tous les Étages

Accompanied by a self- portrait of Duchamp signed “Marcel Dechiravit,” with
a hand-colored collotype
of The Bride Stripped Bare by her Bachelors, Even (the Large Glass), an original pochoir frontispiece, and a pochoir
of the readymade Eau et Gaz à Tous les Étages signed by Duchamp.

Piero Manzoni
Stadtisches Museum Munich

PIERO MANZONI

Piero Manzoni di Chiosca e Poggiolo, better known as Piero Manzoni, was an Italian artist best known for his ironic approach to avant-garde art. Often compared to the work of Yves Klein, his own work anticipated, and directly influenced, the work of a generation of younger Italian artists brought together by the critic Germano Celant in the first Arte Povera exhibition held in Genoa, 1967. Manzoni is most famous for a series of artworks that call into question the nature of the art object, directly prefiguring Conceptual Art. His work eschews normal artist’s materials, instead using everything from rabbit fur to human excrement in order to “tap mythological sources and to realize authentic and universal values”. Piero Manzoni

PIero Manzoni
MANZONI, 1970
Edition Stadlisches Museum

Piero Manzoni

Mönchengladbach Kassettenpublikation

Texts by Johannes Cladders and Udo Kultermann

Mönchengladbach, Germany: Städtisches Museum Mönchengladbach, 1969.

This limited-edition catalogue for Piero Manzoni’s posthumous 1969–70 exhibition at the Städtisches Museum Mönchen- gladbach comes encased in a clear plastic box with eight indents. The catalogue includes twenty-two black-and-white offset images. With essays by Johannes Cladders and Udo Kultermann (in German). From an edition of 440 copies.

Paris: Trianon Press, 1959.

This is the deluxe edition of the first catalogue raisonné of the work of Marcel Duchamp, containing 208 detailed entries and an extensive bibliography. The box, designed by Duchamp, includes a signed readymade mounted on the front cover, reading: “Eau et Gaz à Tous les Étages.”

Mounted to the red cloth-covered box is autoportrait de profil of Duchamp, signed “Marcel Dechiravit.” The box has two hinged panels of an acetate reproduction and a collotype reproduction, with the former depicting a scale-version of Duchamp’s famous The Bride Stripped Bare by her Bachelors, Even (the Large Glass). From an edition of 137 copies

ELLSWORTH KELLY
Ellsworth Kelly’s work can be viewed in terms of what it is not. unlike the painting of the abstraction expressionist and color field artists at the time, Kelly had no desire to make works involving expression, conceptual organization, depiction, or narrative. He was willing to drop traditional painting’s insistence on the square or rectangular frame to pursue departures of vision and experience.

Ellsworth Kelly

Derriere Le Miroir, No. 149

Containing five original lithographs

Paris: Maeght Editeur, 1964.

Ellsworth Kelly produced five original lithographs for this issue of Derrière le Miroir, the French art magazine created in 1946
and published until 1982. This deluxe issue was printed on Arches paper and is housed in the original chemise and slipcase. Unlike the prints from the regular edition, the print quality of the deluxe edition is superlative in its color and feel. From an edition of 150 copies, signed by the artist.

DOUG, WARM REGARDS AND  ENORMOUS THANKS FROM THE LRFA BLOG FOR THIS YEAR’S CONTRIBUTION.

HAPPY NEW YEAR AND NEW DECADE TO ONE AND ALL!

Christopher Schardt
Lyra
Installation at Hudson Yards, New York

 

From Durer to Anish Kapoor, centuries of great books thanks to Gagosian rare book specialist, Doug Flamm

Albert Durer
Die Unterweysung der Messung

CURRENTLY AT THE METROPOLITAN MUSEUM, THE EXHIBITION “THE RENAISSANCE OF ETCHING” IS A BEAUTIFULLY CURATED AND IN-DEPTH STUDY OF A PRIINTMAKING TECHNIQUE THAT CHANGED THE COURSE OF THE MEDIUM.  ITS TRANSFORMATIVE POWER DEMOCRATIZED ART AND PROVIDED ACCESSIBLE IMAGES TO THE MASSES AS EARLY AS THE 15th CENTURY. WHEN THE TECHNIQUE MOVED FROM A UTILITARIAN PURPOSE  INTO THE DOMAIN OF PRINTMAKERS AND PAINTERS, IT REVOLUTIONIZED THE ART WORLD AND CONTINUES TO REPRESENT A PIVOTAL MOMENT IN THE HISTORY OF ART.

The history of printmaking has been punctuated by moments of great invention that have completely changed the course of the medium. The beginning of etching in Europe in the late fifteenth and early sixteenth centuries—when the technique moved out of the workshop of armor decorators and into those of printmakers and painters—represents one of those pivotal moments. Etching, essentially drawing on the surface of a metal plate, had an ease that opened the door for all kinds of artists to make prints. The pioneers of the medium included some of the greatest painters of the Renaissance, such as Albrecht Dürer, Parmigianino, and Pieter Bruegel the Elder.

This exhibition traces the first sixty years of the etched print (circa 1490 to circa 1560), from its emergence in the workshop of the German printmaker and armor decorator Daniel Hopfer to the years when a range of artists from Germany, Flanders, Italy, and France began experimenting with etching. Approximately 125 etchings, produced by both renowned and lesser-known artists, are displayed alongside a number of drawings, printing plates, illustrated books, and armor.

https://www.metmuseum.org/exhibitions/listings/2019/renaissance-of-etching

Albert Durer

AVAILABLE AT GAGOSIAN BOOKSHOP,  AT 976 MADISON AVENUE, NEW YORK, BETWEEN 76th AND 77th STREET, AN EXTRAORDINARY STUDY BY ALBERT DURER DELVES EVEN MORE DEEPLY INTO THE SUBJECT OF 15th CENTURY ART BY ONE OF THE GREAT ARTISTS AND PRINTMAKERS OF THE GERMAN RENAISSANCE. BORN IN THE IMPERIAL FREE CITY OF NUREMBERG, GERMANY, DURER’S VAST BODY OF WORK INCLUDED ALTARPIECES AND RELIGIOUS WORKS, NUMEROUS PORTRAITS AND SELF-PORTRAITS, AND ENGRAVINGS.

TREAT YOURSELF OR ANY ART HISTORICALLY ORIENTED  FRIEND OR COLLEAGUE WITH A COPY OF THIS VERY RARE BOOK, INTRODUCED TO US BY GAGOSIAN’S RARE BOOK SPECIALIST, DOUG FLAMM, WHO HAS BROUGHT THE GAGOSIAN BOOKSHOPS HERE AND IN PARIS AND LONDON TO A LEVEL OF GREAT ATTENDANCE AND POPULARITY, WITH BOOKS RANGING AS FAR BACK AT THIS 15th CENTURY BOOK BY ALBERT DURER UP TO THE MOST AVANT-GARDE PRINTINGS AND EXPERIMENTAL ARTISTS’ BOOKS OF THIS DECADE.

Albert Durer
Die Unterweysung der Messung

ALBERT DURER

Die Unterweysung der Messung, mit dem Zirckel unn Richtscheyt

in Linien ebnen ganken corporen

Nuremberg, Germany: Hieronymous Andreas Formschneider, 1525.

This is the first edition of Dürer’s treatise on perspective and the uses of mathematical geometry in art. Historically significant, it is the first literary document in which a strictly representational problem—painting—receives a scientific analysis at the hands of a Northern European artist.

In the book, Dürer examines the construction of plane curves and helices by means of Euclidian geometry; the construction of polygons and their uses in architectural ornamentation and parquet floors; as well as polyhedrons, stereometry, and perspective. The woodcuts and diagrams are beautifully executed with great precision; these include the famous illustrations of the two figures demonstrating a drawing instrument, signed with Dürer’s monogram (dated 1525 for this edition), as well as an image of an artist drawing a seated man with the aid of Dürer’s machine. The text of Book Three contains Dürer’s famous original treatise on the shaping of Roman capital letters and the construction of Gothic letters using small geometrical forms.

There were three further German editions of Die Unterweysung, published in 1533, 1538, and 1603, as well as five Latin editions published between 1532 and 1606.

CENTURIES LATER, PUBLISHED BY CAROLINA NITSCH AND THE NEW MUSEUM OF CONTEMPORARY ART IN 2005,  DOUG FLAMM HAS INTRODUCED THE LRFA BLOG TO AN EXTRAORDINARY WORLD ATLAS BY THE CONTEMPORARY BRITISH INDIAN SCULPTOR, ANISH KAPOOR.

Anish Kapoor
Turning the World

Anish Kapoor is a leading contemporary British-Indian artist working in large-scale abstract public sculpture. Among his best-known works is the popular Cloud Gate (2006), otherwise known as “the Bean,” featured in Chicago’s Millennium Park. Throughout his career, Kapoor has worked on a variety of scales and with diverse materials—mirrors, stone, wax, and PVC—exploring both biomorphic and geometric forms with a particular interest in negative space. “That’s what I am interested in: the void, the moment when it isn’t a hole,” he explained. “It is a space full of what isn’t there.” Born on March 12, 1954 in Bombay, India, Kapoor moved to London in the late 1970s, studying at both the Hornsey College of Art and Chelsea College of Arts. He first gained critical recognition for his work in the 1980s, with his metaphysical site-specific works in which he manipulates form and the perception of space.

Anish Kapoor
Turning the World

ANISH KAPOOR

TURNING THE WORLD
New York: Carolina Nitsch and
New Museum of Contemporary Art, 2005.

A world atlas open to a spread. A circle and a square shape are cut out of the left and right pages, respectively. Incrementally smaller shapes are cut out of each page behind the spread, creating two painted volumes into the depths of the entire atlas. The front, spine, and back cover of the atlas are also painted. From an edition of 26 copies, signed and numbered by the artist.

Taking a cue from current events, British artist Anish Kapoor furthered his formal exploration of the void in this work. Using the field provided by a world atlas opened to pages displaying the Middle East, Kapoor incised and painted geometric shapes on both recto and verso. Negative space, for instance, is created by a red circle carved out on the left and a red square carved out on the right. These extend through the entire depth of the book and leave nations demarcated and divided by cartographic abstractions. Each signed and numbered edition is displayed in a slipcase, with painted front and back cover and spine.

ALTHOUGH  CHRISTMAS IS OFFICIALLY TOMORROW, EVERYONE WILL WELCOME A BELATED GIFT FROM GAGOSIAN BOOKSHOP.

PLEASE JOIN THE LRFA BLOG IN OUR NEXT POST AS DOUG FLAMM, AT GAGOSIAN, CONTINUES TO TEMPT US WITH HIS RECOMMENDATIONS.

AND IN THE MEANTIME, THE HAPPIEST OF HOLIDAYS!

Roy Lichtenstein
Peace Through Christmas Tree

Tis the season to visit Doug Flamm, rare book specialist at Gagosian Gallery

Gagosian Gallery and Bookshop, New York, Madison Avenue

WHATEVER YOUR AESTHETIC  INTERESTS OR THOSE OF THE LUCKY PEOPLE YOU ARE GIFTING, DOUG FLAMM, WHO MODESTLY HOLDS COURT AT THE GAGOSIAN SHOP, AT 976 MADISON AVENUE, BETWEEN 76th AND 77th STREET, HAS BOTH AN EXPERT’S KNOWLEDGE OF RARE BOOKS AND ART BOOKS AND AN INTUITIVE SENSE OF EXACTLY WHICH VOLUME WILL FASCINATE AND DELIGHT THE RECIPIENT FOR MANY YEARS TO COME.

THE LRFA BLOG ALWAYS LOOKS FORWARD TO THE HOLIDAY SEASON FOR THE EXCUSE TO VISIT GAGOSIAN BOOKSHOP AND TO VISIT WITH DOUG, PICKING DIFFERENT GIFTS AND, ON OCCASION, PURCHASING AN IRRESISTIBLE ONE TO TAKE HOME.

WE ARE  DELIGHTED TO CELEBRATE OUR HOLIDAY TRADITION AND SHARE DOUG FLAMM’S LATEST PICKS FOR YOU AND YOURS. THE FIRST TWO RECOMMENDATIONS REVISIT THE SIXTIES AND SEVENTIES, AN HOMAGE TO THE NEW YORK ART WORLD BY UGO MULAS IN THE SIXTIES AND TO THE NEW YORK AVANT-GARDE  IN THE SEVENTIES BY GIANFRANCO GORGONI.

Ugo Mulas New York: The New Art Scene

This exhibition of photographs by the Italian Ugo Mulas (1928-1973) was redolent with a double nostalgia. The first was the subject – the New York art world in the 1960s and the artists who made it the culture capital of the known universe. During three visits to New York, Mulas and his camera got inside the studios, dinner parties, and happenings of the likes of Robert Rauschenberg, Jasper Johns, Roy Lichtenstein, Barnett Newman, and Andy Warhol, among others. He charted the movement from one generation to the next, from the Abstract Expressionist legacy of “go big or go home,” in a portrait of Newman in front of a vast empty white canvas, to the casual disorder of manufacture in Warhol’s “factory,” with Jackie Os scattered on the floor. The appearance of such figures as choreographer Trisha Brown notwithstanding, Mulas’s New York is a boys’ club, no matter which way they might swing sexually. But looking at these photographs, you almost wanted to have been there.

http://photographmag.com/reviews/ugo-mulas-new-york-the-new-art-scene-at-matthew-marks-gallery/

New York: The New Art Scene is Ugo Mulas’s homage to Manhattan’s art world of the mid-1960s. The book includes photographs of the Pop Art scene as well as of studio visits with Lee Bontecou, John Chamberlain, Jim Dine, Marcel Duchamp, Jasper Johns, Roy Lichtenstein, Barnett Newman, Kenneth Noland, Claes Oldenburg, Larry Poons, Robert Rauschenberg, James Rosenquist, George Segal, Frank Stella, Andy Warhol, and Tom Wesselmann.

UGL MULAS New York: The New York Art Scene

UGO MULAS

New York:
The New Art Scene

Text by Alan Solomon

Illustrated with approx. 500 photogravure plates by Ugo Mulas

New York: Holt Rinehart Winston, 1967.

RICHARD SERRA The New Avat-Garde, Issues for the Art of the Seventies

RICHARD SERRA

SUSTAINING AN IMPORTANT CAREER FOR NEARLY 5 DECADES, RICHARD SERRA RECENTLY COMMANDED THREE UBER GAGOSIAN GALLERY SPACES IN NEW YORK.HIS WORK WAS FIRST ATTRACTING ATTENTION IN THE SEVENTIES AND SHAPED THE DISCOURSE OF ART IN THE 20th CENTURY.

One of the most famous sculptors of his generation, Richard Serra is also one of the most important artists of the 20th century. Combining the action of Abstract Expressionism with the raw, procedural grind of Process Art, his sculptures recast Minimalism on a monumental scale. Recognizable for their patina—Serra’s favorite material is rolled Cor-Ten steel with an evenly rusted surface—as much as for their size, sculptures like Torqued Ellipses (1996-1997) at the  Dia: Beacon count among the previous century’s most iconic artworks.

https://www.artsy.net/article/artsy-editorial-how-richard-serra-changed-the-course-of-public-art

THE MINIMALIST SCULPTOR, RICHARD SERRA, WITH CURRENT SHOWS IN THE FALL OF 2019 AT THREE BRANCHES OF THE GAGOSIAN GALLERY, KEEPS THE DYNAMIC OF THE SUBLIME IN SPLENDID TENSION.

The New Yorker, The Art World, October 7, 2019 ISSUE

RICHARD SERRA WILL JOLT YOU AWAKE

https://www.newyorker.com/magazine/2019/10/07/richard-serra-will-jolt-you-awake

GIANFRANCO GORGONI (1941-2019)
The Italian photographer Gianfranco Gorgoni, who was the premiere documenter of major Land art works—including Robert Smithson’s  SpiralJetty, 1970, and Christo and Jeanne-Claude,  Running Fence, 1976—has died at age seventy-seven. Born in Rome, Gorgoni moved to the US in 1968 to produce a photographic essay and stayed after a chance encounter with Robert Rauschenberg.In the 1970s, Gorgoni captured the portraits of artists including Ellsworth Kelly, Claes Oldenburg, Agnes Martin, Andy Warhol, Alfred Leslie,  and others, many of which were included in his book The New Avant-Garde: Issues for the Art of the Seventies (1972) and Beyond the Canvas: Artists of the Seventies and Eighties (1985).Leo Castelli staged four solo shows dedicated to the artist between 1972 and 1996, and his oeuvre was the subject of a solo exhibition at the San Francisco Museum of Art in 1978. His work was also included in the Forty-Fifth Venice Biennale (1993) and can be found in the collections of the Metropolitan Museum of Art and the J. Paul Getty Museum. The Nevada Museum of Art opened  “Gianfranco Gorgoni Land Art Photographs,” an exhibition of his landscape images, in October.
https://www.artforum.com/news/gianfranco-gorgoni-1941-2019-80797

The New Avant-Garde: Issues for the Art of the Seventies

AT GAGOSIAN BOOKSHOP, “NEW AVANT-GARDE, ISSUES FOR THE ART OF THE SEVENTIES”, RESPONDS TO YOUR CURIOSITY ABOUT THIS WILDLY CREATIVE PERIOD OF AMERICAN ART.

THE NEW AVANT-GARDE, ISSUES FOR THE ART OF THE SEVENTIES

Text by Gregorie Muller New York: Praeger, 1972.

New York: The New Art Scene

Documenting the art world of  the 1970s, Gianfranco Gorgoni’s exceptional photographs portray the raw energy that was present during this transformative time in American sculpture. Most notable are the images of Richard Serra throwing molten lead in Leo Castelli’s warehouse.

FOLLOW THE NEXT LRFA BLOG FOR MORE OF DOUG’S RECOMMENDATIONS!

SEASON’S GREETINGS!