The New Yorker’s Peter Schjeldahl offers his take on the “fearful frenzy” of the art market this week, and the ominous notes that the current focus on the market by the über-wealthy strike.  “Alongside global prosperity has come a lot more political instability, and it’s in the interests of the social elite to keep their options open as to where they relocate,” he quotes from Artnet’s J.J. Charlesworth. (more…)

Frieze co-founder Matthew Slotover has responded to characterizations of his wildly successful event as “Ikea for millionaires,” noting the impact the fair has on broader art institutions and critiquing the often vapid personifications of collectors. “Most don’t see art as purely a display of wealth. For many, there is a genuine engagement and they want to support the culture, and enrich their lives and engage in lifelong learning,” Slotover says. “They could go and buy planes or yachts or cars, which wouldn’t do any of those things. It’s a minority of the wealthy that decide to buy art. If you look through the Sunday Times Rich List, most are not art collectors.” (more…)

Marianne Boesky Gallery has announced a group of new directors taking over at both New York locations.  Kristen Becker, who previously worked as Director at Luhring Augustine, will take over at Boesky’s Chelsea location, while the gallery’s new downtown space will be co-run by Kelly Woods and Veronica Levitt.  “I’m thrilled to be expanding our dedicated and talented team with these new additions,” Boesky told Art Observed.  “Kelly is a perfect fit to co-direct our new Lower East Side location with Veronica Levitt who will be moving there from Chelsea into her new role. Kristen brings a great depth of experience and energy to our Chelsea team. All three will surely augment our service to our artists and our clients in every way.” (more…)

The Wall Street Journal has published a memorial to sculptor Anthony Caro written by Karen Wilkin, a curator and former assistant who spoke at a memorial service for the artist last year, remembering the artist’s demanding nature and quick intuition.  “While Tony was invariably pleased when you were excited and enthusiastic about particular works, she writes, “he was far more interested in the problematic, recalcitrant ones. And he was always eager to respond to suggestions from fresh eyes—respond immediately, that is, by working on the sculpture.” (more…)