Leslie Rankow Fine Arts

INTERNATIONAL ART ADVISORY SERVICE

Tag: contemporary art

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

 

 

Holding one’s breath while allowing artists complete creative license with Meg Malloy, partner, Sikkema Jenkins & Co.

Zipora Fried As the Ground Turns Solid Current exhibit Sikkema Jenkins & Co.

 

BOASTING A DIVERSE ROSTER OF NOTEWORTHY ARTISTS WORKING TODAY, SIKKEMA JENKINS & CO. IS AN ESTABLISHED MIDSIZE GALLERY SPACE LOCATED IN WEST CHELSEA. REPRESENTED ARE SUCH BIG-NAME VETERANS AS VIK MUNIZ AND KARA WALKER, AS WELL AS MID-CAREER POWERHOUSES SHEILA HICKS AND DEANA LAWSON. THE WORK REPRESENTS ARTISTS WHO WORK IN EVERY MEDIUM: PAINTING, PHOTOGRAPHY, SCULPTURE, VIDEO, INSTALLATION; AND IN EVERY GENRE: ABSTRACTION, NARRATION, FIGURATION, MANY ADDRESSING SOCIAL AND POLITICAL ISSUES, OTHERS ADDRESSING THE LEGACY OF ART HISTORY AND EVOLVING IT FORWARD.  THE UNIFYING FACTOR IS THE QUALITY, ENGAGEMENT AND IMPACT OF THE WORK, TO THE VIEWER, TO THE COLLECTOR AND TO THE MUSEUM CURATOR.

IN 2019 ALONE, SIKKEMA JENKINS & CO.  EXHIBITED THE WORK OF THE FOLLOWING ARTISTS, AN ABBREVIATED EXAMPLE OF THE BREADTH AND SCOPE OF THE ARTISTS THE GALLERY SUPPORTS AND ENCOURAGES.

Brenda Goodman

BRENDA GOODMAN

With over 50 years of experience as a painter, Goodman is an artist at the height of her career. She began in 1960s Detroit, as a member of the famed Cass Corridor Movement. In the early 1970s, she exhibited with Guston, Tworkov and de Kooning at the Gertrude Kasle Gallery. After moving to New York City in 1976, Goodman explored ways to integrate intensely personal issues with the freedom of abstract expressionism.

Louis Fratino

LOUIS FRATINO

Drawing inspiration from personal experience and, more recently, photographic source material, Fratino makes paintings and drawings of the male body. His work includes portraits, nudes, and intimate scenes of male couples engaged in activities ranging from the mundane to the graphically sexual. The result is a body of work that is a loving and honest expression of the contemporary gay experience.

Jennifer Packer

JENNIFER PACKER

Packer’s painted figures and still lifes are exceptional for their expressive fields of color, worked tenderly by the artist’s hand. They are images made with the utmost care–for the subject, and for the artist herself. Packer’s subjects are often friends and family, loved ones who serve as an emotive force in her life. Her representations critique the positionality, autonomy and power of the marginalized subject.

Terry Haggerty

TERRY HAGGERTY

Terry Haggerty’s paintings reveal the multi-dimensional possibilities within painting – bold color is used to enliven and give volume and depth to positive and negative space. A series of monochrome lines, corners, and edges fold around one another, activating gaps between geometric planes of color. Haggerty’s works embrace the tension between two-dimensional outline and three-dimensional form, creating images characterized as “half object, half painting.”

AND CURRENTLY, THE BEAUTIFUL RECENT ABSTRACTIONS BY

Zipora Fried

ZIPORA FRIED

Working across sculpture, photography, and drawing, Fried’s oeuvre explores the potential of color and form to transcend language and express the nuances of the human experience. The subconscious remains a focal point of interest for Fried, as the formal conditions of object and image become deconstructed and reinterpreted through their symbolic connections to one another. Every gesture of the artist’s hand, in shape and form, signifies a distinct moment in the phenomenological experience of Fried’s work.

MEG, WHAT ARTISTS DOES THE GALLERY REPRESENT, AND HOW WOULD YOU CHARACTERIZE THE WORK?

The artists that  we represent are quite varied, and it is hard to pinpoint, but I feel that all  start from social or conceptual concerns, and all have great skill and create work that is consistently engaging on both a visual and an intellectual level.

IS THERE A PARTICULARLY AESTHETIC, OR CONCEPTUAL OR ABSTRACT POINT OF VIEW THAT CONNECTS EACH ARTIST’S WORKS?

I would say it is open-ended, but each of our artists has an integrity and an unshakable commitment to what they do. 

WHAT DID YOU MOVE TO CHELSEA, AND WHAT PROMPTED THAT DECISION?

The gallery moved to Chelsea because there were great spaces, and Soho rents were through the roof.

WAS THE CURRENT 22nd STREET LOCATION THE FIRST SPACE THAT YOU TOOK, AND HOW HAS IT EXPANDED OVER THE YEARS?

We are at the same address, but the gallery has been in the unusual position of  being able to expand in place as the business grew.   We had half of our downstairs originally and then were offered the other half.   This was due to unfortunate circumstances as both Pat Hearn and Colin de Land who had that space passed away.  Then we rented the back of upstairs from Anina Nosei for storage and viewings, and then when she didn’t renew we took over  that space. 

Sheila Hicks

 

THE GALLERY ROSTER IS A STRONG MIX OF ESTABLISHED ARTISTS SUCH AS ARTURO HERRERA, SHEILA HICKS, KARA WALKER, AND EMERGING TALENTS. WHO ARE SOME OF THE ARTISTS AND WHAT ARE SOME OF THE EXHIBITIONS THAT HAVE RESONATED WITH YOU THE MOST?

That is an impossible question!  😊

YOU SHOW ARTISTS IN A WIDE VARIETY OF MEDIA. WHO ARE SOME OF THE ARTISTS THAT YOU REPRESENT THAT ARE THE MOST CHALLENGING IN TERMS OF THE EXHIBITION OF THEIR WORK? YOU ARE SO GENEROUS WITH THE GALLERY SPACE, ALLOWING THE ARTISTS LICENSE TO TREAT THE SPACE AS PART OF THE CREATIVE PROCESS.

You have to have faith in an artist’s  vision.   That said, there are times when we hold our breath. For Kara’s last show, there were three very large-scale unframed works on paper.  The audience for that show was enormous and we worried that the work could be damaged but people were so respectful.  William Córdova created a scaffolding that pushed viewers to the perimeter of the gallery. 

William Cordova
Machu Picchu

MORE ABOUT THE GALLERY, ART FAIRS, CURRENT AND FUTURE EXHIBITIONS WITH MEG MALLOY IN OUR NEXT LRFA BLOG.

IN THE MEANTIME, EAT, DRINK AND BE MERRY, AND HAVE A HAPPY THANKSGIVING!!

Andy Warhol
Turkey Noodle Soup

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

Meg Malloy
Partner
Sikkema Jenkins & Co.

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

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

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

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

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

Vik Muniz: Surfaces
Current exhibition
Sikkema Jenkins & Co.

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

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

 

Georgia O’Keeffe
Sky Above Clouds

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

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

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

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

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

Kara Walker
Turbine Commission Tate Modern

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

Erin Shirreff
San Francisco Museum of Art

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

PLEASE JOIN US!

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

Art Basel 2019
Cheim & Read

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

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

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

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

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

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

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

https://www.cheimread.com

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

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

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

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

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

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

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

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

WHAT ARE THE GALLERY’S PLANS FOR THE FUTURE?

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

 

Lynda Benglis
Catalina
Museum of Cycladic Art Athens, November 2019

 

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

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

Lynda Benglis at The Cycladic Museum, November 22, 2019

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

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

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

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

PLEASE JOIN US!

Life in a jewel box with Courtney Kremers, Sotheby’s VP and Contemporary Art Specialist

The History of Now: The Collection of Daniel Teiger
Sotheby’s London

THE COLLECTION OF DAVID TEIGER, A MANAGEMENT CONSULTANT AND FORMER TRUSTEE OF THE MUSEUM OF MODERN ART, WAS SOLD AT SOTHEBY’S STARTING IN LONDON LAST OCTOBER DURING FRIEZE WEEK. THE COMPETITION BETWEEN THE AUCTION HOUSES VYING FOR SUCH A SUPERB, VARIED AND LEGENDARY COLLECTION MUST HAVE BEEN FIERCE BUT SOTHEBY’S MARKETING STRATEGY WON THE DAY. TITLED “THE HISTORY OF NOW”, THE COLLECTION FEATURED EXCEPTIONAL EXAMPLES OF MODERN, FOLK AND CONTEMPORARY ART, FEATURING EXCEPTIONAL EXAMPLES BY SUCH ARTISTS AS JASPER JOHNS, DAVID HOCKNEY, JOHN CURRIN, PETER DOIG AND MARK GROTJAHN IN A SERIES OF TEN TARGETED SALES WORLDWIDE.

Mark Grotjahn
The History of Now- The Collection of David Teiger

DAVID TEIGER CREATED A LIST OF PRINCIPLES TO GUIDE HIM IN HIS COLLECTING. SOTHEBY’S ADVOCATED THE SAME FOCUS AND CONCENTRATION IN ITS MARKETING AND SELLING OF IT: TRAVELING WORKS TO MANY CITIES, THREE IN ASIA ALONE; RESEARCHING, DOCUMENTING AND CATALOGUING EACH LOT; SELECTING THE VENUE THAT WOULD BEST SERVE EACH WORK OF ART, RESULTING IN AN OVERALL TOTAL OF MORE THAN $100 MILLION.

http://www.sothebys.com/en/auctions/2018/history-of-now-collection-david-teiger-l18623.html

Peter Doig
Buffalo Station 1
The History of Now- The Collection of David Teiger sale

THE HARD WORK, DEDICATION AND KNOWLEDGE OF WORKS  OF ART AND OF THE ART MARKET REQUIRED FOR THE SALE OF THE TEIGER COLLECTION IS JUST ONE EXAMPLE OF THE VIRTUALLY DAILY DEMANDS ON SPECIALISTS IN A TOP AUCTION HOUSE. CONSISTENTLY PLEASANT, CHEERFUL AND POLITE TO EACH AND EVERY DEMANDING COLLECTOR AND ADVISOR IS ANOTHER REQUISITE.

TODAY, THE LRFA BLOG IS DELIGHTED TO WELCOME BACK COURTNEY KREMERS, SENIOR VP AND CONTEMPORARY ART SPECIALIST, TO SPEAK FIRST HAND OF HER SOTHEBY EXPERIENCE.

WHEN DID YOU START AT SOTHEBY’S AND WHAT PROMPTED YOUR DECISION TO JOIN AN AUCTION HOUSE?  CUSTOMARILY, MANY PEOPLE START AT AN AUCTION HOUSE AND THEN GO ON TO WORK AS A DEALER OR ADVISOR?

Yes I did it backwards. But I am so thankful I did. I was able to understand the ecosystem that the auction house serves by first being a part of that ecosystem. Sotheby’s approached me about an opportunity to revamp their mid season sales in early 2013; that fall, we introduced the Contemporary Curated sales. It was an exciting new challenge, and when I left Kim to pursue it, she couldn’t have been more supportive.

Vija Celmins
Burning Plane
Good to Go: Property from the Collection of Joni Gordon

WHAT DO YOU LIKE THE MOST ABOUT WORKING IN AN AUCTION HOUSE?

I am surrounded every day by people that love what they do. My colleagues, both in and outside the Contemporary department, are some of the most passionate, inspiring, and hard-working people that I have ever encountered. The energy is contagious. Not to mention the thousands of objects I get to see, handle, basically live with, every year. And not just Contemporary works… Our office is a rotating museum of Old Master paintings, jewels, photographs, Japanese scrolls, the most beautiful mid-century design objects. I spend most of my waking life in a jewel box essentially. It is a privilege to work at Sotheby’s, so I try to earn it every day. 

Ed Ruscha Broken Pencil In Its Own Light: Collection of Ed Cohen and Victoria Shaw

WHAT ARE SOME OF THE MAJOR AUCTIONS OR SINGLE OWNER SALES OR SPECIFIC LOTS THAT STAND OUT AS HIGHLIGHTS DURING YOUR TIME AT SOTHEBY’S?

The Joni Gordon Sale in 2014 – we sold a rare Vija Celmin’s plane painting (now on view in the SFMoMA show) and achieved a record price for the artist. In 2017, the sale of works from the Collection of Ed Cohen and Victoria Shaw which included the most breathtaking works on paper by Anselm Kiefer, Michael Andrews, and Brice Marden… These weren’t the most high value consignments, or the biggest single owner sales in recent years, but the works were rare connoisseurs’ gems.   

Cecily Brown
Bonus
In Its Own Light: The Collection of Ed Cohen and Victoria Shaw

HOW DOES S/2, SOTHEBY’S GALLERY, WORK IN CONJUNCTION WITH THE SALES DEPARTMENT?  HOW DO YOU DECIDE WHAT THE BEST VENUE WHEN ADVISING A CLIENT INTERESTED IN SELLING A WORK THEY OWN?

Simply stated, when advising collectors regarding auction versus private sale, we need to understand what it is that they value most. For some, privacy and control of the sale process is paramount, and so private sale would be our recommendation. For others, the auction platform, which can present a unique opportunity for upside at a particular moment, is more appealing. With that said, every conversation is highly circumstantial and takes into account any number of factors. One that comes up frequently is depth of an artist’s market in relation to works currently consigned for an auction season (e.g. if we have four Calder mobiles already consigned for auction, we are likely not going to recommend adding a fifth).

Alexander Calder
Art Contemporain
Sotheby’s Paris, June 5, 2019

HOW FAR IN ADVANCE DO YOU WORK ON A FORTHCOMING AUCTION?  DO YOU HAVE A FEW LOTS THAT COME IN THAT ANCHOR A SALE AND THEN SEEK OUT WORKS COLLECTORS MIGHT HAVE THAT WOULD COMPLEMENT THE SALE AND BE ENHANCED BY EXISTING LOTS?

Yes – you nailed it. We generally work on sales six months in advance, but naturally the intensity ramps up about two months out. Roughly half of the sale comes in from collectors who reach out to us directly. The other half we seek out proactively. Based on what has come into the sale in the first few months, we seek out artists and periods that we don’t yet have. We start to create ‘wish lists’ that we work from. If we are a month away from deadline and see that we don’t have a great Joan Mitchell or Donald Judd, we will go out and try to find one. Our wish list changes a bit every season depending on what we know collectors are looking for, and also, opportunities we may see to tell a particular story in an auction season. We look at the ingredients on the table, and then figure out how to make a well balanced meal! 

Joan Mitchell
L’Arbre de Phyllis
Lumieres: The Levy Family Collection
Sotheby’s NY May 16, 2019

IN OUR NEXT LRFA BLOG POST, COURTNEY WILL SHARE HER PERSPECTIVE ON SOTHEBY’S PRESENT AND FUTURE.

PLEASE JOIN US!

AND HAVE A HAPPY AND LONG-AWAITED MEMORIAL DAY WEEKEND!

Introducing One Art Nation, a unique source for collectors and art professionals, with co-founder Julia Wehkamp

Julia Wehkamp & Amanda Dunn
Co-founders
One Art Nation

ONE ART NATION IS A UNIQUE WEBSITE PROVIDING VALUABLE INFORMATION TO COLLECTORS AND ART PROFESSIONALS AROUND THE WORLD. IT IS AN EXCEPTIONAL SOURCE FOR ART EDUCATION AS WELL AS ART MARKET NEWS, TRENDS AND EVENTS. AS THE CONTEMPORARY ART WORLD EXPANDS EXPONENTIALLY, ART FAIRS, AUCTIONS, SOCIAL MEDIA SITES, ARTIST COLLECTIVES, ADVISORS, PRIVATE DEALERS AND GALLERIES HAVE SPRUNG UP WORLDWIDE IN RESPONSE TO THE  EVER-GROWING INTERNATIONAL INTEREST IN CONTEMPORARY ART AND THE ART MARKET.

THROUGH EDUCATIONAL TALKS AND PROGRAMS, EXPERT INTERVIEWS AND ARTIST SHOWCASES, ONE ART NATION (1AN) IS DEMYSTIFYING THE PROCESS OF BUYING ART FROM START TO FINISH. ITS GOAL IS TO BRING TOGETHER PROMINENT ART EXPERTS FROM ACROSS THE GLOBE TO ADDRESS TOPICS THAT RANGE FROM BUILDING, MAINTAINING AND PROTECTING A COLLECTION TO TAX AND FINANCIAL ASPECTS OF OWNING ART. THIS IS THE TYPE OF CONTENT THAT MATTERS MOST TO ART COLLECTORS AND PROFESSIONALS, BOTH EXPERIENCED AND NEW.

ONE ART NATION  OFFERS NUMEROUS VIDEOS THAT COVER A WIDE RANGE OF TOPICS  FROM THE HABITS OF SUCCESSFUL COLLECTORS TO EMERGING ARTISTS: A POPULAR ENTRY-LEVEL MARKET AND HOW TO APPROACH SELLING YOUR COLLECTION.  IT OFFERS AN ART ADVISORY 101 PROGRAM TO INFORM ASPIRING ART ADVISORS AND AN ART WEALTH MANAGEMENT PROGRAM: UNDERSTANDING ART AS AN ASSET CLASS FOR FINANCIAL ADVISORS, JUST TO HIGHLIGHT A FEW TOPICS THAT PROVIDE TRANSPARENCY IN A RELATIVELY UNREGULATED INDUSTRY.

THE LRFA BLOG IS DELIGHTED TO WELCOME JULIA WEHKAMP, A FOUNDING PARTNER OF ONE ART NATION, AN ONLINE PLATFORM OF BOTH DEPTH AND BREADTH IN ITS CONTRIBUTION TO THE ART COMMUNITY.

JULIA, THANK YOU SO MUCH FOR CONTRIBUTING TO THE LRFA BLOG

WHEN WAS ONE ART NATION FOUNDED AND BY WHOM?

One Art Nation (1AN) was founded by Amanda Dunn and I. We officially launched at Miami Art Week 2013. In bringing together our skills and experiences, we wanted to create an innovative and unique platform, separate from the conventional online art networks offered. Through extensively examining the market and listening to the needs of collectors and professionals, it became clear that accessible and relevant education was required. By combining our experience in fine arts and international marketing expertise with education-centric business skills, 1AN has become the trusted source of education for art enthusiasts, collectors and professionals across the globe.

Art Advisory
ONE ART NATION

WHAT IS ITS MISSION?

Ultimately, 1AN aims to create transparency in the art market, while securing its position as the leading online education platform, offering a complete solution for art enthusiasts, collectors and professionals. 1AN fulfills a growing need for new and innovative online art tools required to broaden the scope and depth of the art market. 

WAS YOUR BACKGROUND IN THE ARTS AND WHAT INSPIRED YOU BOTH TO CREATE ONE ART NATION?

Amanda previously worked for Christie’s Auction House in London on their marketing team. On the other hand, I have focused on developing and operating international continuing education programs using innovative and creative methods. Working in the art industry allows me to incorporate my passion for art and culture, while applying my experience and skills in education and event management.

In speaking with various auction houses and established galleries, we determined early on a common challenge: they were not connecting with the new generation of art collectors, whether they be young professionals looking to diversify their portfolios, those coming from emerging markets, etc. And it’s understandable… a gallery can be an intimidating space for a new collector, never mind an auction house! So we wanted to create a non-threatening environment where people can interact with art experts across the globe and learn the A-Z’s of collecting: from how to choose a gallery to the succession planning of an established collection. Organically, art market education for professionals followed based on demand.

IN OUR NEXT LRFA BLOG POST, JULIA WILL EXPAND ON THE MANY EDUCATIONAL PROGRAMS THAT 1AN OFFERS.

PLEASE JOIN US!

APAA: social media, webinars, 21st century tools for advisors

APAA
Association of Professional Art Advisors

WORKING WITH AN APAA ART ADVISOR ENSURES THAT WHILE YOU ARE EXPLORING THE VAST AND COMPLEX WORLD OF FINE ART, YOU WILL BE GIVEN ADVICE FROM AN IMPARTIAL, EXPERIENCED PROFESSIONAL WHO, AS YOUR ADVOCATE, WORKS ONLY ON YOUR BEHALF. A GOOD ADVISOR WILL FIND THE APPROPRIATE ARTWORK FOR YOU TO CONSIDER, HELP YOU ASSESS THE CONDITION AND MATERIALS, ANALYZE THE CURRENT MARKET AND ASSIST YOU IN NEGOTIATING THE BEST POSSIBLE PRICE. THE GLOBAL ART MARKET CAN BE OPAQUE AND CONFUSING, AND A GOOD ADVISOR WILL BE ABLE TO EXPERTLY NAVIGATE THAT WORLD FOR YOU.

https://artadvisors.org

THE APAA HAS TAKEN A PROACTIVE ROLE IN PROVIDING A FOUR PART WEBINAR THAT PROVIDES CLEAR AND SIMPLE GUIDANCE THAT ADDRESSES  ALL THE STAGES OF COLLECTING, FROM HOW TO START DECIDING WHAT ART TO BUY TO HOW TO CONSCIENTIOUSLY LEAVE A COLLECTION TO ONE’S HEIRS WITH EVERY STEP IN-BETWEEN. THIS SERIES REPRESENTS THE DEFINITION OF TRANSPARENCY AND IT IS A CREDIT TO APAA TO PROVIDE THIS VIA ONE ART NATION ONLINE AT NO COST.

https://www.oneartnation.com/

WENDY, WELCOME BACK TO THE LRFA BLOG.

APAA HAS PROVIDED EXCELLENT WEBINARS, ONE BY THE CURRENT PRESIDENT OF APAA, MEGAN FOX KELLY, AND ANOTHER BY A PERSONAL AND PROFESSIONAL FRIEND, EXPERT ART ATTORNEY DIANA WIERBICKI, PARTNER AND GLOBAL HEAD OF ART LAW AT WITHERS. CAN ANYONE GAIN ACCESS TO THESE COURSES AND HOW?

APAA’s Four Stages of Collecting series can be found on-line at One Art Nation. In addition to Megan Fox Kelly and Diana Wierbicki, there are webinars with experts Andrea Wood, registrar and co-founder of ARCS, as well as Peggy Hollander, founder of The Succession Group – an advisory firm focused on wealth transfer and succession planning.

THE FOUR STAGES OF COLLECTING PROVIDE INVALUABLE ADVICE FROM EXPERTS ABOUT THE RESPONSIBILITY OF BEING A COLLECTOR. ADVISORS SHOULD CERTAINLY TAKE ADVANTAGE OF THE ACCESSIBILITY TO THIS INFORMATION THAT APAA PROVIDES – TO EDUCATE THEMSELVES AND THEIR CLIENTS!

Megan Fox Kelly
President, APAA

WEBINAR 1: BEFORE YOU BUY

We will discuss how to create a meaningful collection based on your personal needs, interests and resources. And we’ll explain the finer details of the acquisition process and how you can benefit from services of an experienced advisor even before you make that first purchase.

Participants will learn:

  • How to define your unique collection strategy
  • About the tools available to new and experienced collectors
  • When and how to work with a qualified advisor
  • The financial and personal commitment involved in collecting art

SOCIAL MEDIA IS A FORCE OF BUSINESS LIFE AND APAA HAS PROVIDED SEVERAL EXCELLENT PANELS ON THE BEST WAY TO TAKE ADVANTAGE OF OUR FREE 2.0 WORLD.

WHAT ARE SOME RECENT EVENTS? WHAT DID THEY EMPHASIZE? HOW CAN APAA MEMBERS TAKE ADVANTAGE OF THE FREE MARKETING THAT SOCIAL PLATFORMS PROVIDE?

Social media can be a real benefit for independent entrepreneurs, and Instagram has had an enormous impact on our field.  The most important take away from our social media panel at Phillips last fall was the importance of a distinct point of view, and the need for a strong narrative. APAA’s own social media focuses primarily on Facebook as a vehicle for sharing articles and information about the art field, and on Twitter for sharing information in real time.

WEBINAR 2: LEGAL AND TAX CONSIDERATIONS IN COLLECTING

Diana Wierbicki
Withers Bergman

Diana Wierbicki’s practice is focused on art law dealing with purchases, sales, loans, consignments and charitable giving of works of art. Diana has counseled art collectors and art dealers on all aspects of their art transactions. Diana is also a member of the Wealth Planning practice group and advises high net worth individuals and their families on tax, trust and estate planning matters, as well as on commercial transactions associated with that planning.

 

ANOTHER ASPECT OF APAA THAT I ADMIRE IS THE SUPPORTIVE WORKING RELATIONSHIP THAT MEMBERS HAVE WITH EACH OTHER IN A VERY ENTREPRENEURIAL AND COMPETITIVE INDUSTRY. HOW DO YOU GO ABOUT ENCOURAGING THE SPIRIT OF EXCHANGE?

The collegial spirit of APAA builds on the reasons that APAA was founded nearly 30 years ago – to share best practices and adhere to an ethical working style. APAA members are drawn together by our mutual respect and shared philosophies.

HOW WILLING ARE APAA MEMBERS TO SHARE THEIR EXPERTISE WITH NEWER ADVISORS?

Education and mentoring are important aspects of professional development, and ensure continued best practices in the field.  Although APAA membership requires at least five years running one’s own advisory practice, with an additional five years of experience in the field prior to that, APAA as an organization provides as much foundational information as possible to help guide newer advisors as they grow into their practice.

 

WEBINAR 3: COLLECTION MANAGEMENT

Andrea Wood
Independent art registrar and art management

Participants will also learn about the importance of collections data management, inventories and databases, proper installation, storage, packing and shipping, fine arts insurance, condition reports and conservation, and managing loans to exhibitions.

Andrea Wood, independent registrar and art management consultant, has over 22 years registration experience. Through her New York based business, Andrea Wood Art Management, she currently manages art collections for private collectors and artists, as well as working with museums and galleries on exhibitions and collections projects.

HOW DO YOU PROVIDE INFORMATION ON THE SERVICE INDUSTRY (TRANSPORT, INSURANCE, CONSERVATION) THAT IS CRUCIAL TO AN ART ADVISOR? WHAT ARE SOME CATEGORIES OF INFORMATION THAT ARE AVAILABLE?

One of the great aspects of membership is our ability to tap into each other’s expertise. If you need an installer in Shanghai or a framer in Dubai, an APAA member will have a suggestion for you. These contacts and resources – appraisers, framers, installers, insurance experts, lighting specialists, photographers, shipping/storage experts – are part of a database maintained by APAA that is accessible to APAA members.

YOU  HAVE PROVIDED EXCELLENT WEBINARS, ONE BY THE CURRENT PRESIDENT OF APAA, MEGAN FOX KELLY, AND ANOTHER BY A PERSONAL AND PROFESSIONAL FRIEND, EXPERT ART ATTORNEY DIANA WIERBICKI, PARTNER AND GLOBAL HEAD OF ART LAW AT WITHERS. CAN ANYONE GAIN ACCESS TO THESE COURSES AND HOW?

APAA’s Four Stages of Collecting series can be found on-line at One Art Nation. In addition to Megan Fox Kelly and Diana Wierbicki, there are webinars with experts Andrea Wood, registrar and co-founder of ARCS, as well as Peggy Hollander, founder of The Succession Group – an advisory firm focused on wealth transfer and succession planning.

THE FOUR STAGES OF COLLECTING PROVIDE INVALUABLE ADVICE FROM EXPERTS ABOUT THE RESPONSIBILITY OF BEING A COLLECTOR. ADVISORS SHOULD CERTAINLY TAKE ADVANTAGE OF THE ACCESSIBILITY TO THIS INFORMATION THAT APAA PROVIDES – TO EDUCATE THEMSELVES AND THEIR CLIENTS!

WEBINAR 4: COLLECTING FOR THE NEXT GENERATION

Peggy Hollander
The Succession Group

Peggy M. Hollander is the founder and managing partner of The Succession Group. Under her leadership, The Succession Group has gained widespread recognition for its capabilities in creating innovative, customized, insurance-related wealth-transfer and multi-generational business succession plans for an exclusive roster of high-net-worth individuals, families, and affluent business owners.For more than 20 years Ms. Hollander has applied her professional knowledge and experience serving the needs of clients, providing advice and counsel regarding succession planning not only for financial assets, but for other valuables such as art collections. 

THE SUCCESSION GROUP, NEW TO THE LRFA BLOG, IS A TERRIFIC FIRM FOCUSING ON LEGACY ISSUES IN COLLECTING

Part I: Before You Buy – This first session covers the best way to embark on your journey as a collector.
Part II: Legal and Tax Issues – This second session discusses the legal and tax issues that are essential knowledge for art collectors.
Part III: Managing your collection – This session explains how utilizing a registrar can be an asset to your collection, weighing in on topics such as finding a qualified contract registrar and what a registrar does.

IN OUR NEXT LRFA BLOG, WENDY CROMWELL, APAA BOARD MEMBER AND FOUNDER OF CROMWELL ART LLC, WILL SHARE THE APAA’S VISION OF THE FUTURE OF THE ART MARKET AND THE APAA’S INTEGRAL ROLE.

PLEASE JOIN US. IF YOU HAVE QUESTIONS AND COMMENTS, HERE ARE THE EXPERTS WHO CAN ELOQUENTLY ANSWER ANY AND ALL!

Art Business Conference, London September 4th, book now!

Church House Conference Centre, London

THE ART BUSINESS CONFERENCE IN ITS FIFTH YEAR IN LONDON IS IMMINENT, A MUCH ANTICIPATED GATHERING FOR SENIOR ART MARKET PROFESSIONALS. LEADING EXPERTS FROM THE ART WORLD JOIN FORCES WITH BUSINESS LEADERS AND TECHNOLOGY EXPERTS TO SHARE THEIR INSIGHTS ON THE BUSINESS OF ART. FOUNDED AND DIRECTED BY LOUISE HAMLIN, INTRODUCED IN OUR LAST POST, THIS WEEK THE LRFA BLOG POST IS PLEASED TO PROVIDE THE DETAILS OF THE NEXT LONDON MEETING BEFORE RETURNING TO LOUISE’S INTERVIEW.

JUST AS A PICTURE IS WORTH 1000 WORDS, THE AGENDA OF THIS PROGRAM SHOWS WHAT A PROFOUNDLY PRODUCTIVE DAY THIS WILL BE. HELD ON TUESDAY, 4th SEPTEMBER 2018, AT THE CHURCH HOUSE CONFERENCE CENTRE, WESTMINSTER, LONDON, THE 2018 AGENDA IS AS FOLLOWS:

9.00 – 10.00: Delegate registration and breakfast networking in the Business Pavilion and Media Lounge  

10.00: Opening remarks from the conference chair, Georgina Adam

Georgina Adam has spent more than 30 years writing about the art market and the arts in general.  She was editor of the Art Market section of The Art Newspaper 2000-2008, then editor at large.  She writes a weekly column on Saturday for the Financial Times. In addition to her specialisation in the art market, Adam is particularly interested in emerging cultural centres.

Michael Ellis is Parliamentary Under Secretary of State for Arts, Heritage and Tourism.

10.00-10.15: Opening Keynote Speech: Michael Ellis, Minister for Arts, Heritage and Tourism. 

10.15 – 11.15: Because it’s worth it – Valuing Contemporary Art: Contemporary art can be the most volatile market in the art world. But who decides what it is worth? And how? Four specialists in this area – a gallerist, collector, Valeria Napoleone, a dealer on the secondary market and Ralph Taylor, Global Head of Post-War and Contemporary Art at Bonhams – discuss how values are established from the artist’s degree show to appearing on the block at auction. Also up for consideration is how societal shifts in politics and world geography can make an impact on the careers – and value – of certain artists’ work. This session will be moderated by Melanie Gerlis (Financial Times)

Valeria Napoleone is an art collector and patron to a select number of arts organisations. She is Head of the Development Committee at London based not for profit gallery Studio Voltaire

11.15 – 11.30: Morning refreshment break and networking in the Business Pavilion and Media Lounge

ONE OF THE MOST EXCITING AND TIMELY TOPICS IN TODAY’S ART MARKET IS THE USE OF BLOCKCHAIN AS A TRANSPARENT MEANS TO ESTABLISH THE OWNERSHIP HISTORY OF A WORK OF ART. IN THIS YEAR’S ABC LONDON CONFERENCE, THIS SUBJECT WILL BE EXPLORED IN DEPTH BY A PANEL OF VERY KNOWLEDGABLE ART AND TECHNOLOGY EXPERTS.

11.30 – 12.30: Provenance and the Blockchain: Issues and Future Visions:  This panel explores the topic of provenance and due diligence in the art market. The session will open with an introduction to the blockchain and this will be followed by a discussion that will assess current approaches to ownership history and investigate the likely future impact of blockchain technologies on the market.  Issues we seek to explore include:

  • What is the current state of provenance research in the art market?
  • What impact might the digitisation of catalogues raisonnés have on approaches to provenance?
  • Could the blockchain revolutionise how we address provenance in the future?
  • Should we be seeking an international industry standard for the recording of provenance in catalogues raisonnés, auction catalogues and archives?
  • Can provenance research be applied to the market for antiquities and cultural heritage?
  • How can collectors be encouraged to engage with the importance of provenance, particularly as prices rise and risks multiply?
  • How might artists be affected by these new technological developments?
  • To what extent might such emerging technologies disrupt traditional approaches to art business more generally?  Speakers: Robert Upstone, (Robert Upstone Ltd), Jess Houlgrave (Codex Protocol) and Gareth Fletcher, (Sotheby’s Institute), moderated by Tom Flynn (Flynn & Giovani)   
  • Gareth Fletcher is a Lecturer in the MA Art Business and Unit Leader of the Art Crime, and Art and its Markets summer study programmes at Sotheby’s Institute of Art.

Codex is a decentralized registry for unique assets like art, fine wines, watches and more. Use cryptocurrency to buy $6 billion of art and collectibles today, and plug into a growing ecosystem of third-party services. Codex stores an item’s identity securely on the blockchain as a Codex Record. We make it easier to buy, sell and manage assets of all kinds.

https://codexprotocol.com/

12.30 – 12.55: Presentation: The Fifth Anti-Money Laundering Directive – what does this mean for the art trade? 

This session will ask: why us?  What the AML regulations seek to prevent & how do they do it?  Who is required to comply with the regulations?  What does compliance involve? Plus Practical issues for KYC, understanding the transaction, source of funds & risk assessments.  This practical session will offer guidance and advice.  It is now relevant to any business selling works of art in transactions valued at €10,000 or more, regardless of the payment method used. 

Speaker: Mathilde Heaton (RAM – The Responsible Art Market Initiative) and Adrian Parkhouse (Farrer & Co)

Legal Counsel (UK, Europe & Asia), Phillips Auctioneers
Lawyer and Art Law Consultant, Art Law Advisory
Responsible Art Market Initiative, Taskforce member

12.55 – 13.00: Presentation: Have We Taken the Commoditisation of Art a Step Too Far? Speaker: (Willis Towers Watson) 

Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has over 40,000 employees serving more than 140 countries.

LET’S JOIN THE ART BUSINESS CONFERENCE FOR ITS LUNCH AND NETWORKING BREAK AND DISCUSSION TABLES AND RETURN IN OUR NEXT LRFA BLOG POST TO THE AFTERNOON SESSION. IN THE MEANTIME YOU CAN MAKE YOUR PLANE AND HOTEL RESERVATIONS!

AND FOR THOSE OF US STUCK ON THIS SIDE OF THE POND, THERE IS ALWAYS THE GREAT NEW YORK ART BUSINESS CONFERENCE NEXT SPRING, AT TIME WARNER, TO ANTICIPATE.

 

 

 

An extraordinary track record: Mary Boone Gallery with Ron Warren

Peter Saul
“Fake News”

IN 2014 IN THE NEW YORK AREA, FOUR SUPERSTAR ARTISTS HAD MAJOR SHOWS AT LOCAL INSTITUTIONS—AI WEIWEI AT THE BROOKLYN MUSEUM, SIGMAR POLKE AT MOMA, JEFF KOONS AT THE WHITNEY, AND JULIAN SCHNABEL AT THE BRANT FOUNDATION. THE ONE COMMONALITY THAT LINKS THESE ARTISTS IS THE FACT THAT, AT ONE TIME OR ANOTHER, ALL OF THEM HAVE BEEN REPRESENTED BY MARY BOONE. WHILE THERE ARE PLENTY OF BILLION-DOLLAR PLAYERS TODAY COMPETING FOR THE MANTLE OF THE PREMIERE NEW YORK GALLERIST, FOR MANY, THAT DISTINCTION GOES TO BOONE. SHE HAS, ALL AT ONCE, REVOLUTIONIZED THE ART WORLD, WEATHERED IT, CHALLENGED IT, SURVIVED IT, GIVEN NEW LIFE TO IT.

But it never occurred to me to show Jean-Michel because he was black or to show Barbara and Sherrie because they were women. I never thought it was the gallery’s responsibility to make this a fair and equitable world—you can’t do that. I just tried to show art that I liked, that I thought was powerful and strong.

Mary Boone

Mary Boone interviewed by Eric Fischl in INTERVIEW MAGAZINE, October 2014

TODAY, MARY BOONE GALLERY, IN TWO PRESTIGIOUS LOCATIONS IN NEW YORK, 745 FIFTH AVENUE ON 57th STREET AND 541 WEST 24th STREET IN CHELSEA, SHOWS A MIX OF ARTISTS LONG-ASSOCIATED WITH THE GALLERY SUCH AS ROSS BLECKNER, BARBARA KRUGER, AND FRANCESCO CLEMENTE, REPRESENTS INTERNATIONALLY ESTABLISHED ARTISTS SUCH AS AI WEIWEI, KAWS, AND JACOB HASHIMOTO, AND IS ALWAYS ON THE LOOKOUT FOR NEW TALENT. HER TRACK RECORD IS IMPECCABLE. IT IS REMARKABLE THAT ONE GALLERIST CONTINUES TO IDENTIFY THE MOST INTERESTING AND VITAL ARTISTS OF EACH GENERATION.

The Squibb Building
745 Fifth Avenue
New York City

TODAY, THE LRFA BLOG IS HONORED TO CONTINUE ITS DIALOGUE WITH RON WARREN, GALLERY PARTNER AND DIRECTOR, WHO WILL CONTINUE TO SHARE THE HISTORY OF THIS ACHIEVEMENT WITH US.

https://maryboonegallery.com/

When did the gallery move into its current space on Fifth and what prompted that decision?

We closed the gallery in SoHo and moved to midtown in Spring of 1996. A number of galleries had already left SoHo because of what was considered the commercialization (and resultant rising rents) of an area that had originally been in the 1970s a place where artists could inexpensively live and work. Already in 1996 Chelsea was an option – galleries were buying spaces there to avoid what had happened in SoHo. But at that moment for us there was not the right space available – we were leaving a spectacular sky-lit garage! – and so it was appealing to look at the historical nexus for contemporary galleries around 57 and Fifth. 745 Fifth Avenue, also known as the Squibb Building, is a quintessential Art Deco tower. It’s a great location, a lot of collectors live uptown and there is a concentration of hotels where international clients stay, plus we are four blocks from MoMA.

What were some of the exhibition highlights that stand out for you in the Fifth Avenue space?

Richard Artschwager
D.M.B.R.T.W. AND POTATO , 1997
Oil and celotex

An early show in the Fifth Avenue space (1997) was a series of paintings by Richard Artschwager of potatoes, a very banal subject but brilliant in Richard’s hands. In 1998 we began a regular series of curated group shows that broke from our usual format of nearly exclusively solo shows by gallery artists. These shows created lively juxtapositions and brought work by many artists new to us into the gallery, including Huma Bhabha, Louise Bourgeois, Thomas Demand, Douglas Gordon, Carol Bove, Tom Friedman, and Richard Prince. Our 2010 exhibition of Sherrie Levine’s cast glass Newborn sculptures displayed on four grand pianos is one of the most remarkable installations in the space. In 2013 we had a dazzling show of Peter Halley’s paintings hanging against floor to ceiling wallpaper by Alessandro Mendini, and later that year an exhibition of Peter Saul paintings from the 1960s and 1970s provided a great opportunity to see a range of his historical work.

Mary Boone Gallery,
Chelsea
Keith Sonnier light sculpture

When did the gallery add the Chelsea space as a second venue and what was the impetus for that?

After considerable renovation, we opened our second gallery space at 541 West 24 Street in November 2000. Like the gallery in SoHo, this space had been serving as a garage: ground floor, single-story building with a skylight, but with an even more dramatic, soaring trussed roof. Mary calls it the space she always wanted to build. By 2000 Chelsea had become much more established, and particularly 24 Street had a concentration of top galleries. Regaining a large, unbroken space open to the street gave us more flexibility to do large installations, and of course allowed us to double our exhibition program.

Sherri Levine
Newborn

Some of the outstanding historical shows that show the influence of a generation of master artists on the artists working today include Francis Picabia, Dan Flavin, Clyfford Still, and my favorite, as clients know, the Mirror Paintings by Roy Lichtenstein.  Please describe these exhibitions and in which ways they exerted such a strong influence on the current generation of artists.

All amazing exhibitions. Although I came to the gallery after the Picabia show (1983), I do remember how eye-opening that show was. Definitely before its time… did you know that show was thoroughly panned by the New York Times art critic? A direct legacy of that show is that over thirty years later MoMA mounted their extremely well-received Picabia retrospective. Clyfford Still (1990) was a show that at the time was considered impossible to do – Patricia Still was still living and enforcing the artist’s draconian regulations. Working with loans from Museums and private collections, we were able to put together what amounted to a small but comprehensive survey. Roy and Dan were still alive at the time of their shows so it was fascinating to see them engage with their own historical works. Besides the impact and importance of the works, my lasting impression of their shows was the way they were lit. The Roy Lichtenstein mirrors (1989) were spot-lit like icons, which in a sense they were. For our Dan Flavin show (1991) of his Monument (for V. Tatlin) works, we relied only on the light emitted from the works. The gallery had a highly polished terra cotta tile floor, and the reflection of the vertical fluorescent tubes gave the darkened space the aura of a sanctuary.

Roy Lichtenstein
Mirror Painting

IN OUR NEXT POST, RON WILL INFORM US OF SOME OF THE GREAT LEGENDARY ARTISTS THE GALLERY PRESENTLY REPRESENTS RANGING FROM AI WEIWEI, THE BRILLIANT CHINESE ACTIVIST AND ARTIST, TO BARBARA KRUGER, A QUINTESSENTIAL AMERICAN TEXT AND IMAGE PAINTER WHO AIMS HER KEEN VISUAL OBSERVATIONS ON AMERICANS’ PREOCCUPATIONS AND CONSUMERISM.

PLEASE JOIN US!

The LRFA blog welcomes Ron Warren, director and partner at the Mary Boone Gallery,

Ron Warren
Partner and Director
Mary Boone Gallery

MARY BOONE GALLERY WAS FOUNDED OVER 40 YEARS AGO, IN 1977, IN A SMALL GROUND FLOOR SPACE IN SOHO. ALTHOUGH MODEST IN SIZE, 420 WEST BROADWAY WAS A BUILDING THAT HOUSES THE LEGENDARY LEO CASTELLI AND ILEANA SONNABEND GALLERIES. ALTHOUGH MODEST AT THE START, MARY BOONE HAS ALWAYS HAD A VISIONARY INSTINCT FOR THE RIGHT LOCATIONS AND THE RIGHT ARTISTS. THE GALLERY HAS ALWAYS BEEN COMMITTED TO SHOWING THE WORK OF INNOVATIVE YOUNG ARTISTS AND, AS THEIR CAREERS PROGRESSED, MORE ESTABLISHED ARTISTS AS WELL.

420 West Broadway
SoHo

TODAY, THE LRFA BLOG IS HONORED TO INTERVIEW RON WARREN, A DIRECTOR AND PARTNER AT MARY BOONE GALLERY.

RON, THANK YOU SO MUCH FOR CONTRIBUTING TO THE BLOG.

Ellsworth Kelly
Red Yellow Blue V, 1968
Hirschhorn Museum and Sculpture Garden

HOW DID YOU BECOME INTERESTED IN ART? WHAT WAS YOUR EDUCATIONAL BACKGROUND THAT LED YOU INTO THIS FIELD?

My family was more about science, music, and books, so I wonder myself what brought me to art. I went to a small private, and very conservative, liberal arts college in the Mid-West and, like most people I know who ended up in the art business, took some studio classes along with art history. I did have one art history professor that I liked very much, a French former nun, very reserved and proper yet passionate about her subject, who organized trips to far-flung museums. On one of these trips I remember standing at the Hirshhorn before an Ellsworth Kelly – a series of monochrome panels – and feeling that this was something very exciting, even though classmates whose opinions I respected dismissed the work.

Leo Castelli Gallery
Jasper Johns exhibition

November of Senior year, my roommate bet that I had enough credits to graduate in December. We sat down and calculated… and he was right. So I made a fast plan to enter the “real” world. I was doing an Independent Study with the Ohio Historical Society, and my supervisor was a photographer who kept a loft in New York, in SoHo. She suggested I go to New York and sublet her place. I arrived in January 1980, which seemed very auspicious – new year, new decade. This was a time when SoHo, and the city, was on the brink of enormous change. And with the new galleries right in my neighborhood, for the first time I began to look at contemporary art.

Brice Marden
Work on paper

WHEN DID YOU START AT MARY BOONE AND HOW DID YOU EVOLVE INTO A DIRECTOR AND PARTNER OF  THE GALLERY?

I started in 1985. The Gallery had recently taken on representation of Brice Marden, so there had been an influx of twenty-plus years of slides and black and white photos into the archive, and all the while new works were being inventoried, photographed, and added. I kept everything organized. In those days every label had to be hand-typed. We were continually sending out photographs to collectors and for press, and continually asking to get them back – inconceivable now. Over time one comes to know an artist and their work very well and becomes dedicated to them and the gallery.

Brice Marden
Oil on canvas

IN OUR NEXT LRFA BLOG POST, RON WILL INFORM US OF THE IMPRESSIVE ARCH OF HISTORY AND GROWTH OF THE GALLERY. BY TRACKING THE ARTISTS REPRESENTED BY MARY BOONE, WE HAVE A BIRD’S EYE VIEW OF THE ART WORLD AT THE TIME.

PLEASE JOIN US!