leslierankow

Contemporary and Modern Art Advisory Service

Reap the rewards: ways to shelter income with tax expert Steven Goldglit

AS WE RAPIDLY APPROACH APRIL 18th, THIS YEAR’S DEADLINE FOR FILING PERSONAL TAXES, THE GENERAL HUE AND CRY, BE IT AT A DINING TABLE LADEN WITH HALF-COMPLETED FORMS, YOUR CPA’s OFFICE OR IN A DESPERADO LAST MINUTE VISIT TO A TAX-PREPARATION COMPANY WITH A DUFFLE BAG OF UNSORTED RECEIPTS, IS HOW LITTLE WE END UP WITH, AFTER WITHHOLDING, FOR ALL OF OUR HARD WORK!  TO ENCOURAGE SAVING FOR RETIREMENT, OUR FEDERAL GOVERNMENT DOES OFFER TAX BREAKS WHEN SAVING IN SPECIFIC WAYS THAT INCLUDE 401Ks, IRAs, ROTH IRAs, SAVER’S CREDIT, OR TAX-FREE CHARITABLE CONTRIBUTIONS. CHOOSING THE RIGHT PLAN REQUIRES KNOWLEDGE AND PLANNING.

THE BEST WAYS TO STRUCTURE RETIREMENT SAVINGS TO DEFER TAXES IS AN AREA OF EXPERTISE AS REFINED AS THE KNOWLEDGE OF ANTIQUITIES OR OLD MASTER PAINTINGS. A CERTIFIED PUBLIC ACCOUNTANT CAN GUIDE YOU TOWARDS THE OPTIONS THAT ARE THE MOST ADVANTAGEOUS TO YOUR SPECIFIC SITUATION AND GOALS. EXPERIENCE IN THE NUANCES OF A SPECIFIC INDUSTRY ON THE PART OF THE ACCOUNTING FIRM PROVIDES AN ADDITIONAL EDGE.

SINCE ITS INCEPTION,  STEVEN GOLDGLIT AND HIS TEAM AT GOLDGLIT & COMPANY OFFER ASTUTE ASSISTANCE IN THE AREA OF FINE ARTS, GRAPHIC ARTS AND CREATIVE FIELDS SUCH AS ARCHITECTURE, DESIGN AND WRITING.

http://www.goldglit.com

 

 

 

TODAY, THE LRFA BLOG IS PLEASED TO CONTINUE ITS DIALOGUE WITH STEVEN.

STEVEN, THANKS FOR JOINING US. TAX LAWS ARE NEVER STATIC. HOW PROACTIVE IS THE FIRM IN EVALUATING TAX PLANNING OPPORTUNITIES OR PRECAUTIONS THAT CHANGE IN ACCORDANCE WITH THE FEDERAL AND STATE LAWS?

A good CPA firm must be aware of existing tax laws and changes so that they can properly advise their clients. Potential changes to the tax code must also be considered as future changes can impact the timing of decisions. For instance, the current Presidential Administration has indicated a desire to lower both corporate and personal income tax rates. As such, we try to analyze the timing of these changes and advise clients as to when they should engage in selling property or recognizing income. If we don’t stay on top of the tax code our advice to our clients may result in tax payments in excess of what is reasonable, and no one likes that. As such we subscribe to a few services that issue daily reports on the tax code, current tax law cases and potential changes being discussed by Congress. We use this info to properly advise our existing clients.

THERE ARE MANY VEHICLES THAT SHELTER INCOME FOR THE FUTURE. WHAT ARE SOME THAT ARE THE MOST APPROPRIATE FOR ART RELATED INDIVIDUALS AND BUSINESSES IN THE ARTS AND WHY?

Retirement plans are a great way to shelter income in current years and save for later in life. SEP IRA’s are used by self-employed individuals (Artists) and allow for $54,000 (for 2017) to be deducted against current income as a retirement plan contribution.  In addition, the income in your retirement plan is not taxed as earned and the tax is deferred until you make a distribution from the plan. You can also use regular IRA’s, Roth IRA’s, profit-sharing plans and defined benefit plans. The proper plan for your business depends upon cash flow, asset base and current income. You can also use insurance products to shelter income – whole life insurance plans and annuities. Real estate has proven to be an effective way to develop wealth within the property, using a refinance option to cash out without incurring a tax liability.

 

DO YOU WORK WITH CLIENTS SOLELY IN NEW YORK OR THE TRI-STATE AREA OR DOES THE FIRM WORK WITH ARTISTS AND GALLERIES THROUGHOUT THE UNITED STATES?

The majority of our clients are based in NY but have additional business locations outside NY, such as Connecticut, California and Florida. We also have a lot of clients from Europe that have opened in NYC as a second location and we have developed relationships with Accountants and Attorneys overseas.

THE ART BUSINESS, AS ARTIST OR DEALER, IS TRANSACTIONAL AND A DIALOGUE WITH AN EXPERIENCED TAX MANAGEMENT FIRM IS AN INVALUABLE RESOURCE.

IN OUR NEXT POST, STEVEN WILL OUTLINE OTHER ASPECTS TO CONSIDER IN THE ART OF FINANCIAL AND TAX PLANNING IN THE ART BUSINESS.

JOIN US, COMMENT, ASK QUESTIONS. THE LRFA BLOG APPRECIATES THE DIALOGUE!

 

Welcome to Powerstrike: Stronger for Life

GOOD NEWS IS WORTH SHARING, GREAT NEWS DEMANDS IT! READERS OF THE LRFA BLOG LAST SEPTEMBER WERE INTRODUCED TO ILARIA MONTAGNANI, FOUNDER AND PRESIDENT OF POWERSTRIKE, A PROGRAM OF GROUND-BREAKING WORKOUTS, TO SPREAD THE WORD ABOUT HER KICKSTARTER PROJECT, STRONGER FOR LIFE, A DOCUMENTARY ON ILARIA’S BATTLE WITH BREAST CANCER. HAPPILY, ILARIA NOW MAINTAINS HER FULL RIGOROUS TEACHING AND TRAINING SCHEDULE.

TO SHARE HER PASSION AND KNOWLEDGE WITH AS MANY AS POSSIBLE, THIS MONTH POWERSTRIKE OFFERS A NEW FEATURE:  ARTICLES BY ILARIA DOCUMENTING THE TRAINING GUIDELINES AND MINDSET THAT EMBRACE BOTH MENTAL AND PHYSICAL CHALLENGES.

SEE FOR YOURSELF! COME TO CLASS OR SUBSCRIBE TO THE ON DEMAND VIDEO WORKOUTS. EXCEED YOUR EXPECTATIONS!

https://www.powerstrike.com

WITH ILARIA AND HER POWERSTRIKE TEAM AT YOUR BACK,  IT’S SMOOTH SAILING AHEAD!

 

HERE’S THE FIRST ONE:  Never a Mindless Workout

https://www.linkedin.com/pulse/never-mindless-workout-ilaria-montagnani?published=t

 

 

WELCOME TO POWERSTRIKE

My philosophy: Exercise Makes You Stronger For Life, is built on the belief that we can all live a healthier, happier and better life if we respect and exercise our bodies.  I have applied this principle to my life and have been teaching it through my programs for over 20 years.

I can understand the challenges you face every day and how making your health a priority can be hard.  We all need a little inspiration and guidance to be active, stay strong and continue to take care of our bodies.

Starting this month, I would like to share with you what allows me to reach my true fitness potential, my training principles that are just as much mental as they are physical, and help to bring out the athlete in each of you.

My Team and I want to see you succeed and will show you ways you can push yourself to the next level – as fitness instructors, this is what we do best – we love to train and to motivate others to stay healthy and strong.

Let’s continue to get stronger together.

In health,

Ilaria Montagnani

President, Powerstrike Inc.



Explore More.
Reach Us.
Stay Connected.
Get a Quick Workout.
Follow for Fitness Inspiration.

 

 

 

Copyright © 2017 Powerstrike Inc.
All rights reserved.

 

Art and Taxes, with Steven Goldglit, CPA to the art world

THE ART OF RECORD KEEPING OFTEN ELICITS A GROAN. ARTISTS WOULD RATHER BE IN THEIR STUDIOS WORKING OR THINKING ABOUT THE CREATIVE ASPECTS OF THEIR WORK. GALLERISTS AND DEALERS WOULD RATHER BE CURATING THE NEXT SEASON’S  EXHIBITIONS AND ART FAIR PROGRAM OR CLOSING ON A CURRENT SALE. WHAT CAN THE SOURCE OF MOTIVATION TO INSPIRE CAREFUL AND METICULOUS ACCOUNTING? THINK OF IT AS A GROWTH STRATEGY. BY KEEPING YOUR BOOKS IN ORDER, YOU HAVE A REALISTIC, OBJECTIVE EVALUATION OF THE VALUE OF YOUR BUSINESS, THE AREAS THAT NEED ATTENTION, THE EXPENSES THAT COULD BE REDUCED OR ELIMINATED, CASH FLOW, THE STRENGTHS AND WEAKNESSES OF YOUR CURRENT FINANCIAL SITUATION AND ITS POTENTIAL TO EXPAND AND EVOLVE IN WAYS THAT YOU DREAM ABOUT.

THE OTHER SMART STRATEGY IS TO HAVE THE SUPPORT AND GUIDANCE OF AN EXPERIENCED AND SOLID ACCOUNTING FIRM, PARTICULARLY ONE THAT SPECIALIZES IN THE NUANCES, RISKS AND REWARDS OF THE ART BUSINESS, SUCH AS GOLDGLIT & COMPANY. ORIGINALLY CO-FOUNDED BY STEVEN GOLDGLIT AND HIS FATHER SEVERAL DECADES AGO, IN A WORLD OF COMPLICATED AND CHANGING TAX LAWS AND LOOPHOLES, IT IS CRUCIAL TO FISCAL HEALTH BE IT PERSONAL OR PROFESSIONAL.

TODAY, THE LRFA BLOG IS VERY PLEASED TO CONTINUE ITS CONVERSATION WITH STEVEN GOLDGLIT ABOUT HIS FIRM’S SERVICES AND ITS PARTICULAR FOCUS ON ARTISTS AND ART RELATED BUSINESSES.

STEVEN, WELCOME BACK! HOW LARGE IS GOLDGLIT AND COMPANY AND WHAT ARE THE SCOPE OF SERVICES IT PROVIDES?

HOW MUCH INVOLVEMENT WITH THEIR TAX, BUSINESS AND FAMILY ESTATE PLANNING DOES THE FIRM PROVIDE? WHAT IS SCOPE OF ACCOUNTING SERVICES AT GOLDGLIT?

We are a 10 person firm, with 8 accountants and 2 support staff. Small enough to be very nimble in response to clients’ needs but mature enough to have the ability to handle just about all client issues. We provide a variety of services to our clients:

  • Tax preparation and accounting needs
  • Business consulting including sale and acquisition of business
  • Estate planning and post death reporting
  • Audit representation before IRS, NY State and other jurisdictions
  • Audit, review and compilation reporting
  • Bookkeeping
  • Transactional services

WHAT ARE SOME OF THE SPECIFIC NEEDS THAT AN ARTIST OR AN INDIVIDUAL IN OTHERS CREATIVE FIELDS REQUIRE IN TERMS OF ORGANIZING THE PRACTICAL ASPECT OF THEIR BUSINESS. WHAT IS THE BEST ADVICE YOU GIVE A NEW CLIENT IN TERMS OF RECORD KEEPING, TAX FILING AND ESTATE PLANNING?

Artists need to understand that being an artist requires being a business person. The most successful artists understand this and manage their art careers like a business. This requires proper record keeping and hiring the support staff that is needed for a business – CPA, Attorney, Bookkeeper and assistant. They should make sure their offices run properly and that they are keeping track of all business expenses using a simple Accounting program such as Quicken or Quickbooks.

WHAT ARE THE CONCERNS OF INDIVIDUAL SELF-EMPLOYED PROFESSIONALS IN THE ARTS? FOR CREATIVE CLIENTS, WHERE THE FLOW OF INCOME IS UNPREDICTABLE, HOW DO YOU RECOMMEND THEY CUSHION THESE PEAKS AND VALLEYS?

Artists should organize their business studio as a single member LLC for liability protection, especially if they have employees. They should maintain separate business and personal bank accounts and understand the monthly costs of running the studio so that they can plan cash flow properly. But the 1 thing I always tell Artists is to keep a few artworks they create each year and store them away and only sell when necessary – cash crunch, real estate purchase, etc. It’s like built in savings accounts that can be turned into cash as needed.

WHAT ARE THE MOST CRUCIAL ASPECTS OF GOOD BUSINESS ACCOUNTING MANAGEMENT IN THE ARTS SPECIFICALLY AND IN ANY BUSINESS IN GENERAL?

It is always best to organize your business properly to maximize your deductions and minimize tax costs and potential liability.  Hire a good CPA that is familiar with your business field and they will help guide you to make the proper business decisions. Accounting records must be maintained properly with easy access so that you understand how your business is running, if it’s profitable and if expenses are in line with standards, or if they are excessive and require some cuts. You may eventually need a business loan and clear concise accounting management and records will give a banker comfort to know that the business can handle and repay a loan.

IN THE NEXT POST, STEVEN WILL EDUCATE US ON THE CURRENT TAX LAWS AND THOSE THAT SPECIFICALLY AFFECT ARTISTS AND ART-RELATED INDUSTRIES. THANKS FOR FOLLOWING THE LRFA BLOG!

Tax Time with the art world’s tax expert Steven Goldglit

STEVEN GOLDGLIT
Goldglit & Company

GOLDGLIT & COMPANY, NEW YORK BASED CERTIFIED PUBLIC ACCOUNTANTS, SPECIALIZES IN THE ACCOUNTING AND TAX CONCERNS OF INDIVIDUAL CREATIVE ARTISTS AND ART-RELATED BUSINESSES.  ORIGINALLY FOUNDED BY HIS FATHER KEN GOLDGLIT, STEVEN, MANAGING PARTNER OF THE FIRM, HAS CONTINUED IN HIS FOOTSTEPS, PROVIDING SERVICES THAT OFFER EXPERTISE IN THE SPECIAL FIDUCIARY AND TAX CONSIDERATIONS AND CONCERNS OF ARTISTS, GALLERISTS, DEALERS AND DESIGNERS, EVERYONE, FOR THAT MATTER,  IN THE FINE ARTS INDUSTRY AND OTHER CREATIVE FIELDS.

STEVEN, WELCOME TO THE LRFA BLOG. THANK YOU SO MUCH FOR TAKING THE TIME TO CONTRIBUTE. PLEASE TELL US ABOUT THE HISTORY OF THE FIRM.

Goldglit & Company LLP was founded in 2011 as a Partnership between my father, Ken, and myself. It is the successor firm to KL Goldglit & Co. that my father founded in the 1980’s. The practice started with a broad assortment of art-related clients and has expanded from this base to our current position in the art world today. As the art market has continued to grow and expand, we continue to grow. With the current influx of European galleries into the NYC art market, we have taken on an international client base as well.

http://www.goldglit.com/services

 

HOW DID THE FIRM INITIALLY DECIDE TO FOCUS ON THE ART WORLD? APPROXIMATELY HOW MANY CLIENTS DO YOU REPRESENT THAT ARE INDIVIDUALS VERSUS CORPORATIONS? WHAT IS THE BREAKDOWN BETWEEN ARTISTS, ART GALLERIES, AND OTHER CREATIVE FIELDS SUCH AS ARCHITECTURE, DESIGN, AND PUBLISHING.

My father’s first art client was Leo Castelli and the practice expanded from there. Leo felt it would be great if his accountant also was the accountant for the artists the gallery represented as it would make business dealings very smooth. We have followed this principle to date as we work with many of the artists our gallery clients’ exhibit. Most of the gallery clients are either Corporations or Partnerships, but the artists are almost always self-employed as a single member LLC (best for income tax and estate tax planning). As we work with many more artists than galleries, the majority of our clients is individual tax reporters. Between galleries, artists and art dealers, they account for approximately 80% of our total clients. We have other creative type clients – architects, writers, graphic designers and event planners. Every now and then we get a client who not involved with the arts or design fields, but it is not often!

WHAT PROMPTED YOUR DECISION TO FOLLOW IN YOUR FATHER’S FOOT STEPS?

I graduated with a BS degree in finance from the University of Maryland and thought I would become a successful bond trader. When I was interviewing and focusing on a company and a position, the stock market crash of 1987 occurred and my potential jobs were all put on hold or terminated. This was a very scary moment for me and I decided, at my father’s urging, to get my Masters Degree in Tax and Accounting which I completed at LIU in 1990. After 2 years at Price Waterhouse doing audit work, my father asked me to join his firm – he was not well – and I accepted and have been there ever since!

HOW WOULD YOU DESCRIBE THE DIFFERENCES AND SIMILARITIES OF THE FIRM WITH WHICH YOU WERE AFFILIATED BEFORE JOINING GOLDGLIT & CO.?

My time at Price Waterhouse – the largest of the Big 8 accounting firms when I joined – was very productive. I learned a great deal about how companies operate and spent a lot of time engaging with company management to broaden my abilities. The managing partner of PW was very happy with my work and I was on a path to success at PW but I began to lose interest in audit work and decided I wanted to focus more on small business and tax matters. In the end, I was happy at PW with what I learned, and it helped make me a better CPA.

THIS IS A PERIOD FRAUGHT WITH TAX DEADLINES AND FILINGS BUT, AS YOU CAN SEE, STEVEN IS VERY ENGAGED IN WHAT HE DOES AND WE WELCOME ANY AND ALL RELATED QUESTIONS. IN THE NEXT LRFA POST, WE WILL LEARN MORE ABOUT THE FIRM AND HOW TO BEST PLAN DURING THE YEAR FOR TAX TIME!

 

Join Nicholas Christopher of Turon Travel in Dallas for the Art Fair and the city’s pleasures

Thomas Struth: Places
Dallas Parking Lot, 2001
C-print

IN DALLAS, FROM FRIDAY, APRIL 7th THROUGH SUNDAY, APRIL 9th, PROMINENT INTERNATIONAL AND NATIONAL GALLERIES WILL EXHIBIT A DIVERSE RANGE OF MODERN AND CONTEMPORARY ART AT THE 9TH ANNUAL ART FAIR. LOCATED IN THE FASHION INDUSTRY GALLERY ON ROSS AVENUE IN THE DALLAS ARTS DISTRICT. THE FIG SPECIAL EVENTS VENUE CONSISTS OF ALMOST 74,0000 SQUARE FEET IN A MID-CENTURY MODERN BUILDING. IT FEATURES AN ADJACENT PROMENADE NEXT TO A BEAUTIFUL PRIVATE PARK RIGHT ACROSS FROM THE DALLAS MUSEUM OF ART AND THE NASHER SCULPTURE CENTER.

 

Mark Di Suvero (left)
Joan Miro (rear right)
Nasher Sculpture Garden

IN TODAY’S LRFA POST, NICHOLAS CHRISTOPHER, FOUNDER OF TURON TRAVEL, THE GO-TO TRAVEL AGENCY FOR ALL THE ART FAIRS AROUND THE WORLD, SHARES SOME FAVORITE ART VENUES AND RESTAURANTS THAT MAKE THIS GREAT AMERICAN CITY A TERRIFIC DESTINATION!

THANK YOU, NICHOLAS, AND THANK YOU, FOLLOWERS OF THE LRFA BLOG.

https://www.turontravel.com/about-us

Mona Hatoum
Silence, 1994
Laboratory glass tubes
The Warehouse collection

The Warehouse, a project initiated by Howard Rachofsky and the late Vernon Faulconer is just a short cab ride from the fair.  Located in an adapted industrial building, with 18,000 sq ft of exhibition space, The Warehouse presents carefully considered, original exhibitions of works from The Rachofsky Collection, complemented by art acquired jointly with the Dallas Museum of Art and works on loan from other significant institutions and private collections. The mission of The Warehouse is philanthropy at its best.

In 2013, Rachofsky and Faulconer, both devoted to education in the arts, decided to make their collections available to curators, scholars, critics and students, to encourage new dialogues about postwar Modern and contemporary art. At the heart of the project is an adapted industrial building on 14105 Inwood Road in Dallas, containing art storage facilities, an extensive library, and 18,000 square feet of flexible exhibition space. 

The Warehouse
THINKING OUT LOUD: NOTES FOR AN EVOLVING COLLECTION
January 30 – April 30, 2017

As The Warehouse begins its fifth year, the current exhibition THINKING OUT LOUD: NOTES FOR AN EVOLVING COLLECTION, January 30 – April 30, 2017,  focuses on the personal collecting impulse of its two founders and reflects the pluralistic nature of contemporary art at this moment, when no dominant art movement controls the conversation. Allan Schwartzman has curated not one but several ideas that interest us, embracing recent acquisitions as well as older works not previously presented at The Warehouse.

http://thewarehousedallas.org/exhibition/

Pia Camil
The Little Dog Laughed, 2014
Installation View
Dallas Contemporary

Another must see before your leave is The Dallas Contemporary, a non-collecting art museum presenting new and challenging ideas from regional, national and international artists. The institution is committed to engaging the public through exhibitions, lectures, educational programs and events.  Their highlighted exhibitions in April will feature Pai Camil, a Mexican born artist who draws from the symbolic universe of contemporary consumerism, incorporating the signs, objects and things that form part of everyday life. Also on exhibit are works by Keer Tanchak, a Dallas based painter,  choosing aluminum for its smooth surface and neutral color. This allows the artist  to cut his paintings into any shape the subject may dictate, specifically Rococo imagery.

http://www.dallascontemporary.org/

All that walking, all that art appreciation, helps work up an appetite.  Here are some local pick hits:

The Capital Grille

Capital Grille

An outpost of the upscale steakhouse chain offers classic American fare & a clubby, refined setting.  From steaks to a locally sourced menu as great place to recharge  your batteries.

A Dallas staple located in the Crescent Hotel, the Capital Grille rewards diners with dry-aged steaks cooked to perfection. The 22-oz. Delmonico bone-in rib-eye stands out as the restaurant’s signature item. Seafood options like lobster bisque and grilled salmon are also expertly prepared. Wines (over 400 varieties) are available by the bottle and the glass. An interior of mahogany, oil paintings, and leather seating provides a classy yet unpretentious setting. If you’re looking to impress clients over an elegant business lunch, THIS is the spot to take them – it’s in the perfect location and the atmosphere there will win them over for sure.

http://www.thecapitalgrille.com/locations/tx/dallas/dallas/8012?cmpid=br:TCG_ag:ogv_ch:ppc_ca:TCG-DallasUptown-TX-BR_dt:08-14-2014_gt:TCG—Dallas_sn:goo_kw:capital-grille-dallas_ct:text

The Mansion Restaurant

The Mansion Restaurant

One of the great classic dining experiences in Dallas is The Mansion Restaurant is located in the legendary Rosewood Mansion on Turtle Creek.  Executive Chef Tom Parlo offers Contemporary American cuisine sparked with global overtones. The Mansion Restaurant has been pleasings its guests for over 35 years, offering a beautifully detailed classic environment and the same attention to quality in the menu,  providing one of the most inviting, approachable fine dining experience in Texas.

https://www.rosewoodhotels.com/en/mansion-on-turtle-creek-dallas/dining/mansion-restaurant

Tei-An

For a very special evening in the Arts District, Tei-An offers first tier Japanese cuisine. To quote Zagat: “Exquisite” food, including sushi and “wonderful” handmade noodles, a “trendy yet elegant” scene and “impeccable” service combine at this Arts District Japanese, “one of the best restaurants in Dallas”; interiors with “sleek styling” plus a rooftop cocktail bar with killer views add to the appeal, and help offset high prices.  What more can we say?

http://www.tei-an.com/

APRIL 18th LOOMS AHEAD, THIS YEAR’S DEADLINE FOR PERSONAL TAX RETURNS, MARCH 15th JUST HAVING PASSED FOR CORPORATE. THERE IS NO ONE MORE SEASONED AND EXPERIENCED IN THE ART OF TAX AND FINANCIAL PLANNING FOR THE ART INDUSTRY THAN STEVEN GOLDGLIT AND HIS STAFF AT GOLDGLIT AND COMPANY.

IN THE NEXT LRFA POSTS, STEVEN WILL SHARE HIS EXPERTISE AND EXPERIENCE. WE ALWAYS WELCOME ANY QUESTIONS AND CONCERNS YOU MIGHT WISH TO POSE.

TAKE AIM AND FIRE AWAY!

Welcome to Dallas! with Turon Travel expert, Nicholas Christopher

Dallas Arts District
Master Plan

DALLAS, FOUNDED AND NAMED BY JOHN NEELY BRYAN IN 1841, BEGAN AS A PERMANENT SETTLEMENT NEAR THE TRINITY RIVER AND ROSE TO HISTORICAL PROMINENCE AS THE GATEWAY CITY FOR THE OIL AND COTTON INDUSTRIES. TODAY, DALLAS IS HOME TO A COMMUNITY OF GENEROUS AND DEDICATED ART COLLECTORS AND PATRONS WHO SUPPORT THEIR CULTURAL ORGANIZATIONS AND MUSEUMS WITH A GENEROSITY AS BIG AS THE STATE ITSELF.

THOSE ATTENDING THE DALLAS ART FAIR, APRIL 6th (PREVIEW) THROUGH APRIL 12th, ARE SURE TO ENJOY A WARM WELCOME. THE CITY OF DALLAS FEATURES THE LARGEST CONTIGUOUS URBAN ARTS DISTRICT IN THE UNITED STATES AND INCLUDES FIVE CULTURAL CENTERS DESIGNED BY INTERNATIONALLY RECOGNIZED ARCHITECTS  I.M. PEI, RENZO PIANO AND NORMAN FOSTER AND REM KOOLHAAS.

DALLAS IS A GREAT DESTINATION ANY TIME OF YEAR AND THE LRFA BLOG IS DELIGHTED TO WELCOME TRAVEL EXPERT, NICHOLAS CHRISTOPHER, FOUNDER AND PRINCIPAL OF TURON TRAVEL, THE TRAVEL AGENCY TO THE ART WORLD, AS OUR GUIDE. THANK YOU, NICHOLAS!

https://www.turontravel.com/about-us

The 2017 Dallas Art Fair is enjoying its 9th year.  This annual art event anchors the Dallas Art District, the largest arts district in the nation, spanning 68 acres and 19 contiguous blocks. The district is comprised of museums, performance halls, corporate offices, residences, restaurants, churches and even a school. The Dallas Art District has been a thirty-year plan in the making and now boast buildings by four Pritzker Prize winning architects within a span of several blocks and also includes significant buildings from as far back as the late 1880s, just 40 years after Dallas was founded.

The 2017 DALLAS ART FAIR, opening on Thursday April 6th and continuing through Sunday, the 9th, will feature prominent national and international art dealers and galleries exhibiting painting, sculpture, works on paper, photography, video, and installation by modern and contemporary artists. As with all successful fairs, Dallas’ arts institutes, galleries and museums put forth new and exciting exhibitions to complement the mission of the fair.

Dallas Art Fair
Preview Gala 2016

This makes for a full week around the Dallas Art Fair with the annual Preview Gala Benefit setting the stage. The Preview Gala benefits the Dallas Museum of Art, Nasher Sculpture Center and Dallas Contemporary, and will offer art patrons and Dallas’ top collectors the opportunity to preview and purchase exhibited works prior to the public opening of the fair.

The Dallas Art Fair venue is conveniently set in a private park located across from the Dallas Museum of Art and the Nasher Sculpture Center.

http://dallasartfair.com/visiting-the-fair/

https://www.dma.org/visit

The Dallas Museum of Art’s collection contains over 24,000 works of art from all cultures and time periods spanning 5,000 years of human creativity. The collection is dynamic; new acquisitions are being added all the time and the galleries are constantly changing. A particularly compelling current DMA exhibition for those attending the Art Fair is entitled Passages in Modern Art: 1946–1996.

Jasper Johns
Device
1961-1962

Taken from the DMA’s acclaimed contemporary collection, this exhibit is a great indicator of the dedication and support of the Dallas art community and includes recent acquisitions, rarely seen works, and newly conserved paintings and sculpture. Art by such iconic artists as Bernd and Hilla Becher, Philip Guston, Jasper Johns, Yayoi Kusama, and Mark Rothko is presented alongside their lesser-known contemporaries.

Yayoi Kusama
Accumulation
1962-1964

https://www.dma.org/art/exhibitions/passages-modern-art-1946-1996

Nasher Sculpture Center by Renzo Piano

The birth and growth of the Raymond and Patsy Nasher Collection started more than 50 years ago. In 1950, the Nashers traveled to Mexico, where they became interested in pre-Columbian art and bought the first works in what would become a sizable collection of objects from ancient Latin America. They soon bought other ethnographic and archaeological works and also acquired a number of important American modernist paintings and prints. Mr. Nasher often credits this early involvement with pre-Columbian and other tribal arts as having whetted the Nashers’ appetite for, and appreciation of, modern three-dimensional works.

Henry Moore
Piece no. 3: Vertebrae 1968
Nasher Sculpture Center

By the late-1960s, the Nashers had made their first significant acquisitions of modern sculpture. These included Jean Arp’s Torso with Buds (1961), two major bronzes by Henry Moore, Three Piece No. 3: Vertebrae (1968) and Two Piece Reclining Figure No.9 (1968, no longer in the Collection), and Barbara Hepworth’s large and powerful Squares with Two Circles (Monolith) (1963, cast 1964). In rapid succession, they went on to acquire works by, among others, Joan Miró, Alexander Calder and Isamu Noguchi.

Pierre Huyghe
La déraison, 2014
Concrete, marble, heating system, water, and plants, 36 ¼ x 97 ¾ x 51 in.

At the Nasher, don’t miss the remarkable installation of two works by Pierre Huyghe, 2017 Nasher Prize Laureate. Huyghe has profoundly expanded the parameters of sculpture through artworks encompassing a variety of materials and disciplines. As part of the celebrations surrounding Nasher Prize, the Nasher Sculpture Center presents two important works by the artist: an active marine ecosystem and a living sculpture.

 

Pierre Huyghe
Untitled, 2013
Live marine ecosystem, aquarium, resin shell

The Arts District is home to many other Arts Institutions all within walking distant of the fair.  There is the Fashion Industry Gallery which also houses the Dallas Art Fair,  along with The Annette Strauss Artist Square, the Belo Mansion/Dallas Bar Association, Booker T. Washington High School for the Performing and Visual Arts, Dallas Black Dance Theatre, Dallas Symphony Orchestra, Dallas Theater Center/Arts District Theater, Morton H. Meyerson Symphony Center, and the Trammell & Margaret Crow Collection of Asian Art.  Plenty to see and do during your stay in Dallas.

JOIN US FOR THE NEXT LRFA POST WITH NICHOLAS TO VISIT OTHER ART EXHIBITIONS AND HAVE A DELICIOUS BITE OR TWO ALONG THE WAY!

 

 

Edward Dugmore, Abstract Expressionist inspired by nature

Edward Dugmore: The Sixties
Installation View
Loretta Howard Gallery
through March 25th

THE ROMANTIC MOVEMENT FIRST GAINED MOMENTUM AS AN ART FORM IN FRANCE AND IN BRITAIN IN THE EARLY NINETEENTH CENTURY. IT EMERGED IN RESPONSE TO THE DISILLUSIONMENT ON THE PART OF EUROPEAN INTELLECTUALS WITH THE ENLIGHTENMENT’S ALLEGIANCE TO REASON AND ORDER AND AS AN ARTISTIC RESPONSE TO THE 1789 FRENCH REVOLUTION. DELACROIX’S EMOTIVE NARRATIVE MASTERPIECES AND TURNER’S IDYLLIC LAND AND SEASCAPES EXEMPLIFY THE SENSIBILITY OF THIS PERIOD.

ABSTRACT EXPRESSIONISM, A MOVEMENT THAT FLOURISHED IN NEW YORK IN THE 1950s AND 1960s, HAS MANY PARALLEL HISTORICAL AND AESTHETIC QUALITIES. ABEX DEVELOPED IN RESPONSE TO MORE CEREBRAL CUBIST-INSPIRED MODERNISM AND AS A BY-PRODUCT OF THE EXPANSIONIST NATURE AND GROWTH IN AMERICA FOLLOWING THE VICTORY OF THE ALLIES IN WORLD WAR II.

IN THE ART OF THIS PERIOD, NATURE – WITH ITS UNPREDICTABLE POWER AND VOLATILITY OFFERED AN INSPIRATION TO ARTISTS WHO EMBRACED THE ROMANTIC ASPECT OF ABSTRACT EXPRESSIONISM AS EXPLORED IN INSIGHTFUL ESSAY BY GALLERY DIRECTOR AND ART CRITIC, HOWARD HURST, THAT ACCOMPANIES THE EXHIBITION OF EDWARD DUGMORE: THE SIXTIES.

THE EXHIBITION OF DUNMORE’S PAINTINGS AND WORKS ON PAPER CONTINUES AT LORETTA HOWARD GALLERY, 521 West 26th Street, THROUGH MARCH 25th, AT 521 WEST 26th STREET IN CHELSEA.

http://www.lorettahoward.com/current

Edward Dugmore’s daughter Linda Shannon Dugmore with Edward Dugmore’s student Barnaby Ruhe

THE CATALOGUE ESSAY, PART 2

The romantic impulse to embody nature rather than to simply illustrate it can be traced to a favorite influence of Dugmore’s: the English poet and painter William Blake, who’s own ambition was to render the contemplation of nature as a transformative experience. This belief in the magical properties of nature stems from a lifelong fascination with Native American life and culture. He grew up reading his fathers collection of National Geographic Magazines with wide-eyed admiration. His first trip through the Rockies in 1948 was highlighted by an encounter with the Hopi and Navajo cultures.

Edward Dugmore: The Sixties
Works on paper
Installation view
February 23 – March 25, 2017

His reverence for these cultures, re-ignited during the 1960s, coincided with a broader cultural shift, as artists and intellectuals across the Western world began to look for cultural reference points outside of the Judeo-Christian world.  The bold contours of Aspen Quartet recall the hide of a stretched buffalo, which was the subject of the artists first painting, at the age of seven and which remains an important symbol in various Native American traditions. We are reminded by the reverent tone of this work that the Rockies themselves are a consecrated space, host to the northern most of the four sacred mountains of the Navajo.

EDWARD DUGMORE
Aspen Quartet, 1961
Oil on canvas
69 1/2 x 85 5/8 inches

Equally important were Dugmore’s yearly trips to Mid-Coast Maine, where he and his wife, the photographer Edith Oslund-Dugmore, purchased land in 1954 along with fellow artists Ernie Briggs and Anne Arnold. A selection of ink drawings from the early 1960s highlights the important influence of this environment on the artist’s paintings of the next ten years. The artist sketched the landscape, often times interpreting the evocative silhouette of craggy shorelines and wooded banks through their reflection in the choppy waters that swirled through the areas rivers and rock coves.

EDWARD DUGMORE
Maine #33, 1965
Ink on paper
24 x 19 inches

The forms in these drawings and paintings conjure a vision of the natural landscape that is bound to the power of human experience. The physical world becomes a touchstone and reference point for the inner life of the artist. The foreground melts into the horizon; the sky breaks apart and becomes the floor.

EDWARD DUGMORE
Maine #35, 1965
Ink on paper
19 x 24 inches

MANY THANKS TO LORETTA, HOWARD AND EMILIE AT THE LORETTA HOWARD GALLERY FOR BRINGING THIS EXHIBITION TO THE LRFA BLOG!

AS THE DALLAS ART FAIR OPENS SHORTLY, THE NEXT LRFA POST FEATURES TURON TRAVEL EXPERT, NICHOLAS CHRISTOPHER’S INSIDER SCOOP ON A GREAT ART DESTINATION!

PLEASE JOIN US.

 

EDWARD DUGMORE: THE SIXTIES, ESSAY BY LORETTA HOWARD GALLERY DIRECTOR, HOWARD HURST

EDWARD DUGMORE 1961-R, 1961 Oil on canvas 85 1/4 x 115 1/2 inches

EDWARD DUGMORE
1961-R, 1961
Oil on canvas
85 1/4 x 115 1/2 inches

THE ART OF PUBLISHING TRAVELS AN EVER CHANGING LANDSCAPE AS WE BECOME INCREASINGLY EMBEDDED IN THE DIGITAL WORLD. MANY FACTORS ARE AT WORK: PRODUCTION COSTS, PAPER, INK, PRINTING AND BINDING ARE SIGNIFICANT EXPENSES AND AUTHOR FEES, REPRODUCTION RIGHTS, DESIGN COSTS AND DISTRIBUTION ADD TO THE FINANCIAL BURDEN OF THE TRADITIONAL PUBLICATION. ACCORDING TO A STUDY BY INDEPENDENT JOURNALIST, JUDITH DOBRZYNSKI, WHO WRITES ON CULTURE IN THE ARTS JOURNAL, AS FEW AS 2% OF PEOPLE VISITING A MUSEM EXHIBITION USUALLY BUY THE CATALOGUE.   IN GENERAL, THE WAY IN WHICH WE ABSORB INFORMATION HAS CHANGED RADICALLY FROM PHYSICAL TO DIGITAL.

https://www.artsjournal.com/realcleararts/2010/09/exhibition_catalogues.html

THE UNALTERABLE INTRINSIC VALUE OF DOCUMENTING AN EXHIBITION, WHETHER IN DIGITAL OR PRINTED FORMAT, IS TO MEMORIALIZE ITS CONTENT AND THE CURATORIAL PERSPECTIVE OF THE SHOW.  THESE INSIGHTS PROVIDE A DEEPER UNDERSTANDING OF THE ARTWORK AND THE SCHOLARLY CONTRIBUTION OF AN ESSAY OR ESSAYS OFFERS A FRESH AWARENESS OF AN ARTIST’S SIGNIFICANCE THAT ENRICHES OUR ART HISTORICAL UNDERSTANDING.

THE CATALOGUE ESSAY FOR THE CURRENT EXHIBITION AT THE LORETTA HOWARD GALLERY: EDWARD DUGMORE: THE SIXTIES, DOES JUST THAT. WRITTEN BY GALLERY DIRECTOR, HOWARD HURST, IT INFORMS US ABOUT THE INFLUENCES AT WORK DURING THIS IMPORTANT DECADE OF HIS PICTORIAL CAREER.  THE EXHIBITION CONTINUES THROUGH MARCH 25th AT 521 WEST 26th STREET IN CHELSEA.

http://www.lorettahoward.com

THE LRFA BLOG IS VERY PLEASED TO POST THE ESSAY AND THANK HOWARD HURST FOR HIS CONTRIBUTION.

EDWARD DUGMORE Untitled #12, 1968 Acrylic on paper 15 3/4 x 12 1/2 inches

EDWARD DUGMORE
Untitled #12, 1968
Acrylic on paper
15 3/4 x 12 1/2 inches

EDWARD DUGMORE: THE SIXTIES

When Edward Dugmore arrived in Manhattan in the mid 1950s he helped define a generation of Abstract Expressionist painters who’s legacy is now mythic in scale. This was an inward looking period known for its hard drinking, heated debate and cathartic, frenzied painting.  Dugmore became a ubiquitous figure at the Cedar Street Tavern and the many downtown artist cooperatives that helped define this scene. By 1960 however, the fabric of this milieu had changed. Dugmore’s close friend Clyfford Still left that year to paint in pastoral isolation on his farm in Westminster, Maryland. Willem de Kooning began spending increasingly more time in the rural hamlet of East Hampton before moving there permanently in 1971. Phillip Guston would abandon pure abstraction and take up permanent residence in the Catskill Mountains.

EDWARD DUGMORE Untitled, 1964 Watercolor and pencil on paper 14 x 16 3/4 inches

EDWARD DUGMORE
Untitled, 1964
Watercolor and pencil on paper
14 x 16 3/4 inches

For Dugmore, this decade would also mark an important turning point in his practice. His paintings of the 1960s mark a shift away from the urbanism and introspection of the 1950s. Instead, they capture a sense of openness and reflection as the artist rediscovered the American landscape, in particular the American West and Coastal Maine. These works avoid literal depiction and instead embody the emotional and spiritual impact of the natural world.

EDWARD DUGMORE Untitled, 1964 Watercolor and pencil on paper 14 x 16 3/4 inches

EDWARD DUGMORE
Untitled, 1964
Watercolor and pencil on paper
14 x 16 3/4 inches

For Dugmore, the Rocky Mountains, which he experienced as a visiting artist to the Aspen School of Art in 1961, became a mystic symbol. His paintings from this period stretch themselves out in stark fields of mottled black and white, shot through with sinuous skeins of brilliant color. The resulting silhouettes feel ancient and geological in nature but resist direct recognition. We feel the bodily impact of vast, humbling space and the unknowable force of the wilderness.

Edward Dugmore’s grandson Wolf Bowart and daughter Linda Shannon Dugmore OPENING RECEPTION FEBRUARY 23, 2017

Edward Dugmore’s grandson Wolf Bowart and daughter Linda Shannon Dugmore
OPENING RECEPTION
FEBRUARY 23, 2017

EDWARD DUGMORE: THE SIXTIES, FEBRUARY 23- MARCH 25, AT LORETTA HOWARD GALLERY, 521 West 26th ST, NY

THE AUTHOR

HOWARD HURST, DIRECTOR OF LORETTA HOWARD GALLERY, REGULAR  CONTRIBUTOR TO  hyperallergic.com

HOWARD OBTAINED HIS MASTERS IN CURATORIAL STUDIES AND MUSEUM SCIENCES FROM SETON HALL UNIVERSITY. WHILE IN GRADUATE SCHOOL, HE WORKED AT THE NEW MUSEUM BEFORE BEGINNING HIS CAREER IN NEW YORK AT THE ALAN STONE GALLERY.

Linda Shannon Dugmore and Howard Hurst

Linda Shannon Dugmore and Howard Hurst

 

TO ADD TO YOUR UNDERSTANDING OF DUGMORE’S WORK, HERE IS HOWARD HURST’S CATALOGUE ESSAY FOR DUGMORE’S 2014 RETROSPECTIVE AT THE GALLERY. THIS CATALOGUE FOCUSES ON THE TWO MOST IMMEDIATE AND OBVIOUS CONNECTIONS PEOPLE MAKE TO THE WORK OF EDWARD DUGMORE, THAT OF HIS TEACHER THOMAS HART BENTON AND HIS TEACHER AND FRIEND, CLYFFORD STILL.

ANCIENT EVENINGS: A RETROSPECTIVE OF EDWARD DUGMORE, LORETTA HOWARD GALLERY, APRIL 2014

Revisiting Abstract Expressionism: Edward Dugmore, opening tonight at Loretta Howard Gallery

EDWARD DUGMORE 1961 B-3, 1961 Oil on canvas 95 1/2 x 83 1/4 inches

EDWARD DUGMORE
1961 B-3, 1961
Oil on canvas
95 1/2 x 83 1/4 inches

ABSTRACT EXPRESSIONISM, AN IMPORTANT AND INTRINSICALLY AMERICAN ART MOVEMENT DOMINANT IN THE 50s AND 60s,  ESTABLISHED AMERICA AS THE CREATIVE AND INTELLECTUAL CENTER OF THE POST-WORLD WAR II ART WORLD. ITS SPONTANEITY, EMOTIVE MAGNETISM AND ENERGETIC SPIRIT EXEMPLIFIED AMERICA’S GREAT ECONOMICAL AND CULTURAL POST-WAR BOOM.

WHILE THE CIRCLE OF FIRST GENERATION OF ABEX ARTISTS IS ETCHED IN OUR ART HISTORICAL LEXICON, A SIGNIFICANT GROUP OF SECOND GENERATION ABEX ARTISTS ALSO MERITS RECOGNITION AND CRITICAL ACCLAIM.  EDWARD DUGMORE, AN ABSTRACT PAINTER WITH TIES TO BOTH COASTS, WAS REPRESENTED BY THE DISTINGUISHED STABLE GALLERY IN NEW YORK IN THE 50s, HOWARD WISE IN THE 60s, AND GREEN MOUNTAIN GALLERY IN THE 70s. AS A STUDENT AT CAL ARTS UNDER THE GUIDANCE OF ABSTRACT EXPRESSIONIST MASTER, CLYFFORD STILL, DUGMORE ALSO ENJOYED A PRESENCE IN THE WEST COAST ART WORLD.


lorhow_sf
LORETTA HOWARD GALLERY, LOCATED IN A BEAUTIFUL GROUND FLOOR SPACE IN CHELSEA AT 521 WEST 26th STREET, SPECIALIZES IN CLASSIC POST WAR AMERICAN ART WITH AN EMPHASIS ON ARTISTS WHO CAME INTO PROMINENCE IN THE 1950s AND 1960s. http://lorettahoward.com/about

IN THE SPRING OF 2014, THE GALLERY CURATED AN IMPORTANT RETROSPECTIVE OF WORKS BY  DUGMORE, ANCIENT EVENINGS: A RETROSPECTIVE OF EDWARD DUGMORE, FEATURING PAINTINGS FROM EACH DECADE THAT TRACED THE ARTIST’S CREATIVE TRAJECTORY OF MORE THAN 50 YEARS.

http://lorettahoward.com/content/ancient-evenings-retrospective-edward-dugmore

maxresdefault

 

GALLERY INTELL/YOU TUBE INTERVIEW WITH LORETTA HOWARD, May 29, 2014

https://www.youtube.com/watch?v=jCMeTl-dWVw

 

THE LRFA BLOG IS DELIGHTED TO FEATURE LORETTA HOWARD’S  FORTHCOMING EXHIBITION, EDWARD DUGMORE: THE SIXTIES, AN EXHIBIT CURATED FROM THE PERSPECTIVE OF THE ARTIST’S RELATIONSHIP TO THE AMERICAN WEST. FOR EVERYONE NOW IN NEW YORK, OR ARRIVING SHORTLY FOR THE FORTHCOMING AUCTIONS AND ART FAIRS: ADAA’s ART SHOW  AT THE PARK AVENUE ARMORY, http://www.artdealers.org/ AND THE ARMORY SHOW AT NAVY PIERS. https://www.thearmoryshow.com/,

THE EDWARD DUGMORE  EXHIBITION AT LORETTA HOWARD GALLERY OPENS TONIGHT, THURSDAY, FEBRUARY 23rd AND CONTINUES THROUGH SATURDAY, MARCH 25th, 2017.

http://lorettahoward.com/content/edward-dugmore-7

 

EDWARD DUGMORE Aspen Quartet, 1961 Oil on canvas 69 1/2 x 85 5/8 inches

EDWARD DUGMORE
Aspen Quartet, 1961
Oil on canvas
69 1/2 x 85 5/8 inches

 

 

FOR IMMEDIATE RELEASE

Edward Dugmore: The 1960s

February 23 – March 25, 2017

Opening Reception: February 23, 6 – 8 pm

Loretta Howard Gallery is pleased to present an exhibition of major canvases by Edward Dugmore from the 1960s. The works on display trace the artist’s engagement with the American West. This affinity developed at an early age in part from an interest in Native American life that began while looking through his fathers National Geographic magazines.

The 1960s marked a period during which the artist turned his field of vision away from the city and mined visual representation for inspiration. For Dugmore, the Rocky Mountains, which he experienced as a visiting artist to the Aspen school of Art in 1961, became a mystic symbol. Dugmore’s mountainous topographies avoid direct visual reference instead embodying the tectonic drama of the landscape as a catalyst for spiritual reflection. This romantic impulse can be traced to English poet and painter William Blake who’s own ambition was to render the contemplation of nature as a transformative experience.

EDWARD DUGMORE Maine #35, 1965 Ink on paper 19 x 24 inches

EDWARD DUGMORE
Maine #35, 1965
Ink on paper
19 x 24 inches

Equally important were Dugmore’s yearly trips to Washington, Maine, where he and his wife purchased land in 1960 along with fellow artists Ernie Briggs and Anne Arnold. A selection of ink drawings from the early 1960s highlights the important influence of this environment on the artist’s paintings of the next ten years. Dugmore sketched, often times interpreting the landscape through its reflection in the Medomak River and nearby saltwater coves.

THE NEXT LRFA POST FEATURES EXCERPTS FROM AN INSIGHTFUL ESSAY ON THE CURRENT EXHIBITION BY HOWARD HURST, DIRECTOR AT LORETTA HOWARD GALLERY AND CONTRIBUTING WRITER AT HYPERALLERGIC.

MANY THANKS TO LORETTA AND HER GALLERY TEAM FOR SHARING THIS EXHIBITION WITH US.

The art market, present and future, with Phillips post-war and contemporary expert, Robert Manley

 

Edward Dolman, second from left, chairman and chief executive of Phillips, with, from left, the house’s art experts Jean-Paul Engelen, Robert Manley and Scott Nussbaum. Credit Alex Welsh for The New York Times

Edward Dolman, second from left, chairman and chief executive of Phillips, with, from left, the house’s art experts Jean-Paul Engelen, Robert Manley and Scott Nussbaum.
Credit Alex Welsh for The New York Times

NEWS OF ONE OF MANY MAJOR SHIFTS IN THE AUCTION WORLD POSTED IN AUGUST, 2015, IN THE ART INDUSTRY’S NEWSLETTER,  JOSH BAER’S BAER FAXT,  ANNOUNCING THE DEPARTURE TO PHILLIPS AUCTION HOUSE OF CHRISTIE’S SPECIALISTS, JEAN-PAUL ENGELEN (POST WAR AND CONTEMPORARY ART, CURATOR OF PUBLIC ART AT THE QATAR MUSEUM), HUGUES JOFFRE  (19th AND 20th CENTURY ART) AND ROBERT MANLEY  (DEPUTY CHAIR, POST WAR AND CONTEMPORARY ART). WITH THIS TRIUMVIRATE IN PLACE, PHILLIPS MADE ANOTHER LARGE STRIDE AWAY FROM ITS EARLIER MONIKER, “THE THIRD AUCTION HOUSE”, TOWARDS BECOMING TODAY’S POWERHOUSE WITH A GLOBAL PRESENCE.

HAND-PICKED FROM SOTHEBY’S AND CHRISTIE’S, PHILLIPS HAS OFFERED MANY SPECIALISTS FROM THOSE VENERABLE HOUSES THE PROSPECT OF JOINING A TEAM HEADED BY EX-CHRISTIE’S AUCTION VETERAN, ED DOLMAN, CEO AT PHILLIPS SINCE 2014, AND THE OPPORTUNITY TO SHAPE A NEW PLATFORM FOCUSING ON THE TASTES AND VIEWPOINT OF THE CURRENT CONTEMPORARY COLLECTOR.

http://www.artnews.com/2015/03/24/ed-dolman-at-phillips-auction-house/

Edward Dolman CEO Phillips

Edward Dolman
CEO Phillips

Dolman’s years at Christie’s coincided with a sea change in collecting habits. “The profile of the collector when I started in this business was someone fairly late in life who had gotten interested in a niche market and would spend 10 to 15 years building that collection,” he said. “But now the profile is completely different. They are much younger, they have much more money to spend, and they want to put together a collection a lot more quickly. They’re a little more impatient, and the supply problem is solved by the contemporary market.”

https://news.artnet.com/market/phillips-three-hires-christies-323427

IT IS A PRIVILEGE FOR THE LRFA BLOG TO CONTINUE ITS DIALOGUE WITH ROBERT MANLEY, DEPUTY CHAIR AT PHILLIPS, WHOSE UNDERSTANDING OF THE ART AND AUCTION MARKETS AND HIS DEEP RAPPORT WITH COLLECTORS BOTH ESTABLISHED AND NASCENT, SETS A HIGH STANDARD.

Robert Manley and Jean-Paul Engelen Phillips’ Worldwide Co-Heads of 20th Century & Contemporary Art

Robert Manley and Jean-Paul Engelen
Phillips’ Worldwide Co-Heads of 20th Century & Contemporary Art

ROBERT, WHAT DO YOU ANTICIPATE WILL BE THE EFFECT OF THE CORRECTION THAT IS TAKING PLACE IN THE ART MARKET? IN WHAT WAYS, CAN COLLECTORS PROTECT THE VALUE OF THEIR COLLECTIONS DURING THESE SHIFTS IN THE MARKET?

I don’t see much effect of the so-called correction on any area of the market, with the exception of works over $20 million. And even in that heady territory, there is still demand, just not quite as deep. The market is alive and well although maybe a bit of the froth has subsided. You might have to fight a tiny bit less for certain works and your place on the waiting list at a top gallery might be a little bit shorter, but fundamentally, things haven’t changed much.

I try to maintain the same outlook whether it is a down market or an up market. At the risk of lapsing into an extended art world cliché, you should buy the things you love and buy as well as you can. It’s also important to put together a collection that has some themes or some kind of focus, that make it more than the sum of its parts. Get some good advice from people you trust, like Leslie Rankow for instance!

BANKSY Submerged Phone Booth 2006 Phillips London Evening Sale October 2014

BANKSY
Submerged Phone Booth
2006
Phillips London Evening Sale October 2014

One important thing to do is decide on personal financial thresholds for your collection. Under a certain amount, you should be buying purely for the love of it, and with no hope or expectation of resale or appreciation of value. Above a certain amount, you expect a work to maintain its value, which in effect, makes it more of an “investment”.  

I hate talking about art as an investment, but if you want to protect the value in your art collection, the best way to do that is to avoid putting yourself in the position of having to sell something quickly. Most quality works of art by established artists can be sold at a price that is commensurate with its quality, if you have a long enough time horizon.

The best investment advice for art is…don’t invest in art. Invest in things that make you lots of money, and then your reward is the art you buy with it. The joy you get from it is your dividend, and if it goes up in value, it’s icing on the cake. Like any form of investing, it’s a pursuit for professionals. It’s a hard business to thrive in, with high opportunity costs and massive capital risk, so I wouldn’t recommend it unless you want to make it your full-time occupation.

Interior view Phillips Auction House, London

Interior view
Phillips Auction House, London

THAT IS VERY GOOD ADVICE.

WHAT IS PARTICULARLY EXCITING ABOUT JOINING PHILLIPS AND WHAT ARE SOME OF YOUR GOALS AND RESPONSIBILITIES?

It was a great year on garden leave but I very much looked forward to joining Phillips. I am working side by side with Jean-Paul Engelen, providing strategic planning and vision for the Contemporary department worldwide. Most of my time is spent doing the same things I’ve always been doing, working with top clients and important works of art. Essentially I’ve been doing the same thing for about 26 years, but it never gets old because there are always new things to learn, and great collections to see.

The new challenge I welcome very much is working with Jean-Paul and CEO Ed Dolman, and many others, to create a strong team mentality, with complete trust and transparency. Phillips has put together an incredible team, some of the best and most experienced from all of the top auction houses, in all of the fields that matter to Phillips. The shareholders of Phillips are passionate art collectors themselves, have a long-term vision and are willing to invest in it. We have some innovative ideas about how we are going to organize our auctions and reach into new markets…at a smaller company like Phillips, we can do things that are impossible at a larger corporation. I’m very bullish on the contemporary art market in general and feel Phillips is positioned like no other company to play a leadership role in it.

Phillips New York

Phillips New York

ROBERT, THIS WAS SUCH A VALUABLE CONTRIBUTION TO THE LRFA BLOG. SO MANY THANKS!

IN THE NEXT POST, THE LRFA BLOG IS DELIGHTED TO VISIT THE LORETTA HOWARD GALLERY IN CHELSEA. THE GALLERY SPECIALIZES IN CLASSIC POST-WAR AMERICAN ART WITH AN EMPHASIS ON ARTISTS WHO CAME INTO PROMINENCE IN THE 1950s AND  1960s.  THE FORTHCOMING SOLO EXHIBITION OF MAJOR CANVASES BY EDWARD DUGMORE FROM THE !960s OPENS ON THURSDAY, FEBRUARY 23rd AND CONTINUES THROUGH MARCH 25th, AT 521 WEST 26th STREET, IN CHELSEA, NEW YORK.

UNTIL THEN, THANKS FOR FOLLOWING THE LRFA BLOG!