James Franco, Psycho Nacirema, (still) (2013), courtesy Pace London

On view at Pace London is an exhibition of works by American actor James Franco, presented by Scottish artist Douglas Gordon entitled Psycho Nacirema. The exhibition, which marks Franco’s first major gallery exhibition in the United Kingdom, continues Franco’s intriguing explorations of celebrity, cultural symbols, and obsession.

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The last of artist Thomas Hirschhorn’s monument structures, constructed in in tribute to writer Antonio Gramsci, opens today at the Forest Houses housing project in the South Bronx.  Consisting of a library, performance space and Internet access point, the Gramsci Monument will stand all summer, welcoming all visitors to engage with the writings of the Italian anarchist at a space constructed by Forest Houses residents.  “I tell them, ‘This is not to serve your community, per se, but it is to serve art, and my reasons for wanting to do these things are purely personal artistic reasons,’” Hirschhorn says. “My goal or my dream is not so much about changing the situation of the people who help me, but about showing the power of art to make people think about issues they otherwise wouldn’t have thought about.” (more…)

The invasion of financiers in the art market, the introduction of art as investment, and the internet have altered the value system of works at auction, placing a new emphasis on the reassurance of well-known artists and established sales records. The new ethos can be see in in recent sales of Giacometti’s L’Homme qui march I,’ which sold for over £65 million at Sotheby’s, London in February 2010. The sculpture was an edition of six, with four additional ‘artist proofs.’ The existence of editions allows for direct price comparisons and understanding of the piece’s artistic standing.

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