Greek collector Dakis Joannou discusses his view on art, a catalytic encounter with Jeff Koons in 1985, and the role of his Deste Foundation.

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Jeff Koons, Ushering in Banality, 1988. Polychromed wood. All photos by Christian Saltas, unless otherwise noted.

The Foundation of Arts for a Contemporary Europe (FACE) is a collaboration between five non-profit art foundations: the Deste Foundation in Athens, Greece; the Ellipse Foundation in Cascais, Portugal; the Fondazione Sandretto Re Rebaudengo in Turin, Italy; La Maison Rouge in Paris, France; and Magasin 3 Konsthall in Stockholm, Sweden. Established in 2008, the FACE alliance is dedicated to the promotion of emerging international artists by supporting the production and exhibition of new works. Their first initiative takes the form of a traveling exhibition entitled “Investigations of a Dog.”

Bruce Nauman, Untitled (Suspended Chair, Vertical III), 1987.

The exhibition draws its title from a 1922 short story by Franz Kafka, and the selection of works take up the existentialist themes present in Kafka’s work: disillusionment, humanity, and marginalization. Among participating artists are: Maurizio Cattelan, Roberto Cuoghi, Mark Dion, Gardar Eide Einarsson, Urs Fischer, Fischli & Weiss, Claire Fontaine, David Hammons, Thomas Hirschhorn, William Kentridge, Kimsooja, Jeff Koons, Sherrie Levine, Mark Manders, Paul McCarthy, Bruce Nauman, Martin Parr, Aurel Schmidt, Santiago Sierra, Lorna Simpson, and Kara Walker.

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Quilt by Alexandre da Cunha, and Six Billboards by Angus Fairhust, Art Basel.  Image via Art Daily, AP Photo/Keystone/Georgios Kefalas.

Yesterday marked the end of the most highly-attended Art Basel to date. The 41st annual contemporary art fair boasted 306 galleries from 36 countries, and AO was on site to peruse the work of some 2,5000 artists.  62,500 dealers, collectors, curators, high-profile shoppers, artists, and art appreciators navigated installations, browsed gallery booths, mingled, and enjoyed the city of Basel.  Artists, established and newcomers both, showcased works ranging from Polaroids to performance pieces, paintings to videos, sculptures to large-scale installations.  A social and teeming affair with an obvious commercial edge, Basel’s sales were optimistic.  Picasso, Warhol, Prince, Hirst, de Kooning, Pollock, and other similarly established artists reigned supreme as the focus of this year’s event.  Franck Giraud, a New York dealer, spoke to the New York Times about the lack of prominently featured up-and-comers: “Is it because that’s what the market wants, or is it because dealers didn’t want to take risks? I think it was a bit of both.” Nonetheless, certain galleries used Basel as a platform to introduce new artists and show off their latest signings.

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Team Gallery Booth at Art Basel 2010, Image via Art Basel.

AO is on site at Art Basel, Switzerland, where Wednesday marked the official, public opening of the international show.  On the roster was an inaugural Conversation Series speech by Paul McCarthy, an Art Film at Stadtkino Basel, and an Artist’s Talk with Rodney Graham at Kunstmuseum.  If the congenial and thronged atmosphere hadn’t tipped us off to the anticipation surrounding this year’s exhibitions, Tuesday’s sales would have been a clear indication.   A $15 million Picasso 1960 plaster maquette, Personnage, was snatched up immediately from Krugier Gallery by one of the VIP guests (an American collector) invited to Basel’s early opening, as was a line drawing by the same artist, one by Egon Schiele, and paintings by Max Ernst and Paul Klee. Sara Kay of the Geneva- and New York-based Kugier Gallery was unable to disclose the buyer of yesterday’s Picasso sale, but ten minutes after the purchase’s confirmation noted to Art Info that “[The] piece went to a very important collector with the best modern masters.  This is museum-quality, not trophy-level. It’s a very serious piece.” Skarstedt Gallery also enjoyed a  meritorious patronage yesterday, with sales including a Christopher Wool painting, Untitled, for $800,000, a Barbara Kruger photograph for $700,000, a Cindy Sherman piece for $500,000, and two works by George Condo: The Madman and The Colorful Banker, which fetched $375,000 and $225,000, respectively.  Hufkens Gallery sold a Louise Bourgeois etching, A Baudelaire (#7), which the late artist completed several months before her death in May, for $650,000 to a European collector.  Cheim & Read boasted a lucrative afternoon as well, with sales including a $2 million Joan Mitchell abstraction, a $125,000 Sam Francis drawing, a $100,000 Ghada Amer painting, Paradise, and a 28-strong Bourgeois watercolor series, Les Fleurs.  Lisson Gallery sold two Anish Kapoor‘s for $742,000.  Richard Prince‘s Student Nurse brought Gagosian $4.2 million, and Paul McCarthy’s bronze suites–Sneezy and Dopey–yielded Hauser & Wirth a combined total of $3 million. Blum & Poe sold a dyptich by Takashi Murakami for $1 million. White Cube reportedly sold six of Damien Hirst‘s new paintings, as well as Hirst’s “Memories of Love,” valued at $3.48 million. Lehmann Maupin sold two neon works by Tracey Emin, each for $74,000.

Damien Hirst, ““Memories of Love,” at White Cube’s booth, sold for $3.48 million. Image by Art Observed.

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The New Museum

In September, the New Museum announced a series of exhibition entitled “The Imaginary Museum,” the first of which will be curated by Jeff Koons from the collection of Dakis Joannou, who in addition to heavy collecting the work of Koons, is a trustee of the museum. The museum’s decision to show works from the collection of one of its trustees raised some ethical red flags by several bloggers, and last week gained momentum with a front page article on the NY Times followed by considerable coverage elsewhere, including an editorial in The Art Newspaper by Modern Art Notes’ Tyler Green, who had previously blogged about the situation, and responses by Jerry Saltz in New York Magazine. The cover of the November issue of the Brooklyn Rail featured a satirical cartoon by artist William Powhida with the title, “How the New Museum Committed Suicide with Banality,” taken by a post by James Wagner, skewering the incestuousness and insiderness of the New Museum, and Artinfo called the controversy the “New Museum scandal.”  The New Museum responded in defense, and a number of other museum directors also defended the museum’s decision.

Dakis Joannou and Jeff Koons at the New Museum’s 30th Anniversary Gala in 2007 via The Art Newspaper (more…)

Dakis Jaonnou’s Yacht “Guilty” Designed by Jeff Koons

More on Greek billionaire Dakis Joannou’s Jeff Koons-designed yacht [GQ]
Interview with Takashi Murakami: “maximalist” [Esquire]
More on Sarah Thornton’s Seven Days in the Art World [Portfolio]
A telling selection of 30 years of quotes from Tracey Emin [GuardianUK]
Portrait auctioned for $21,850 in 1998 by Christie’s is now attributed by some to Leonardo Da Vinci and may sell for over $50M [NewYorkTimes]

Dakis Joannou’s Jeff Koons-designed yacht ‘Guilty’ via Artforum

Art luminaries gather on collector Dakis Joannou’s Jeff Koons-designed yacht in Greece [artforum]
Study: number of US artists tripled since 70’s to 2 million with $34,800 average income [artinfo]
A profile of contemporary German collector Falckenberg and his 2,000 works [Bloomberg]
Early Hirst painting disgarded to thrift shop by mistake [The Independent]
The NYTimes reviews Lichtenstein at Gagosian uptown NY [NYTimes]
New Museum announces 1st US Elizabeth Peyton survey show [New Museum]
Market uncertainty, Christie’s competition cited in 12% quarterly profit drop for Sotheby’s [the Art Newspaper]