In the face of China’s rise to third-largest art market (slipping in ahead of an aggrieved France), Clare McAndrew, head of the Dublin-based consulting firm, Arts Economics, is “ looking at resale rights in Europe. There are real
worries in Europe. New markets like China emerging is very good for the market overall but difficult for countries, like the U.K. and France, that have been hampered by regulations and taxes. They have to compete not only against the U.S., which has fewer regulations, but also against countries, like China, that don’t have resale royalties.” (Via ARTINFO)
She also says that, as art becomes viewed more and more as a long term investment, speculators have been “shaken out.”
It’s okay to love Simon de Pury. I’ve said before that hisPhillips Art Expertsite is really fun: it has video and games and contests and lots of color. It’s a great way to rake in the low-brows like myself who love to see the art universe brought down to size, demystified and even made out to be kinda cute. :)
So I say, big deal if Stuart Jeffries gets all fan-club on us, talking about how cool de Pury is: the dude’s just giddy-making with his darling themed auctions and his “elegant, leggy gait”.
“Art is not a bad thing to invest in. Historically, it has outperformed most other asset types.”
~ Simon de Pury
White Column’s Celebrity Line-Up
White Columns’ 2010 BENEFIT EXHIBITION + AUCTION (on view ON VIEW APRIL 24 – MAY 15,) shows an impressive list of donating artists. Impressive in size, but also in the celebrity status of the artists themselves, with the Turner Prize winning, Toma Abts, famed prankster Maurizio Cattelan, the notorious Billy Childish and David Byrne even.
FINALLY, the pious facade that art marketers apply as protection to their artists, their buyers, their collections, and their reputations, is being — um– noticed.
In April 16th story for the New York Times, Randy Kennedy begins:
“Imagine a market for highly sought-after items in which the makers and sellers work hard to ensure that the items go only to certain buyers, even if other buyers might be willing to pay more. The favored buyers are then expected not to resell the items for many years, even if the values skyrocket. Ideally, in fact, the buyers are expected to give these items away eventually, for the public good. And if the buyers don’t abide by these expectations, they risk being cut off, cast out with the other unwashed wealthy who can afford to buy but have no access.”
Anyone familiar with the art market and the practices of dealers and consultants on the one hand, representing the primary market, and auction houses, on the other, representing the secondary market (traditionally), will not have to “imagine” very hard. Market savvy dealers have always sought to “place” art rather than sell it, seeking to create a prestigious provenance for their artists. And auction houses used to refuse to touch art any younger than five years old, seeing it as a tasteless and destructive practice to sell new pieces in the secondary market.
But it’s really nice to see that the practice, and it’s very elitist, very very naughty implications are finally being brought out into the light.
And in a very amusing tale of what appears to be petty vengeance, a woman scorned, in this case Marlene Dumas, has, it seems, blacklisted one Craig Robins, because he made her look bad by selling one of her works from his collection to David Zwirner Gallery.