Composition avec bleu, rouge, jaune et noir (1922) by Piet Mondrian, part of the Yves Saint Laurent – Pierre Berge collection; sold for â‚¬21.6 million, beating its estimate range of â‚¬7 million to â‚¬10 million and setting an at-auction record for the artist. Image via Christie’s.

Following three days of viewing by the public in the majestic setting of the Grand Palais in Paris, Christie’s kicked off its marathon three day, six session auction of the vast Yves Saint Laurent and Pierre Berger collection–700 pieces collected over five decades.  A moribund art market and legal manoeuvrings by the Chinese government were not enough to put a dent on the first day of auctions, as Christie’s realized $264 million including commissions, setting a record for the sale of a personal collection, beating out a 1997 auction of Victor and Sally Ganz’ extensive private collection which sold for $206.5 million. This first auction focused on Impressionist and modern art, with 61 lots on sale.

While Picasso’s Instruments de musique sur un gueridon, a synthetic cubist piece from 1912 estimated at €25 million to â‚¬30 million, failed to sell, records were broken for Matisse, Brancusi and Mondrian. Other high priced lots by blue chip names sold very well to a field of over 1,200 participants, with another 100 partaking in the sale via phone. The Grand Palais served as a giant showroom, conceived as a recreation of sorts of St Laurent’s and Berge’s apartment in Paris’ 7th arrondissement. Over 30,000 thousand people are expected to visit the Palais during the course of the public exhibition and the auction.

“This is a very important auction,” said Souren Melikian, the longtime art editor of The International Herald Tribune. “There are a large number of high-quality objects, not necessarily as stunning as billed, but high quality bought over a large number of years. And they come to auction at a time when the market is winding down, when there is less available than 20 years ago.” [Via the New York Times]

Auction page: Christie’s
Fondation Yves Saint Laurent – Pierre Berger
Art World’s Stimulus Package: Matisse, Mondrian, Not Picasso [WSJ]
Christie’s Laurent Sale Fetches Record $262 Million [Bloomberg]
Yves Saint Laurent sale proves art is in fashion [Times UK]
Yves Saint Laurent Art Sale’s 1st Night Brings In $264 Million [NYT]
Saint Laurent and His Art Still Make a Sensation [NYT]
Treasures, after a fashion [FT]
YSL art auction sets new record [Guardian UK]
Record for Matisse and Others at Christie’s Sale of Yves Saint Laurent Collection [ArtDaily]
Saint Laurent art sale raises $264 million in first night [ArtForum]
Record bids for YSL private art [BBC]
Obituary: Yves Saint Laurent [BBC]
China tries to stop Paris auction [BBC]

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Image via Daily Telegraph

The three day auction of hundreds of art and furniture collected by the late legendary fashion designer Yves Saint Laurent and his longtime partner Pierre Bergé kicked off today at 1PM EST. The auction which many have called the “Sale of the Century” is being held at the Grand Palais in Paris under the guidance of Christie’s auction house. The auction includes six separate sales over three days and contains masterpieces by Picasso, Mondrian, Matisse along with several other Art Deco pieces, bronzes, enamels and antiques. The first item sold was a small Italian landscape by Degas for which Berges had said he had a “special affection” for. It was bought for 380,000 euros (485,000 dollars). Proceeds from the sale will go to two charitable foundations set up by Saint Laurent and Bergé. Another early highlighted item sold was a wooden sculpture by Constantin Brancusi which sold for 29.2 million euros (37.2 million dollars) which was a a record for the artist’s work at auction. For up to date results from the auction, visit Christie’s results as they happen.

Christie’s Fine Art Auctions
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Pierre Bergé on Yves Saint Laurent, his auction house and the sale of the century [Art Info]
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Brancusi Sculpture Fetches Record 29.2 Million Euros [Bloomberg]
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Saint-Laurent Collection Livens Up A Sluggish Auction Market [Arts Journal]
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Treasury of Style [ArtNet]
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Inside Yves Saint Laurent’s Art Collection [Forbes]
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Treasures, after a fashion [Financial Times]
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The Last Collection [New York Times]
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The Art World’s Last Hurrah? [Wall Street Journal]
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A work from Red Rag to a Bull from the website

When Damien Hirst sued a 16-year-old street artist over copyright infringement late last year, demanding the boy pay him £200 for profits made on collages that incorporated an image of Hirst’s diamond and platinum skull ‘For the Love of God,’ a bit of an uproar followed.  Hirst, who has made an estimated £500 million from sales of his art work, was seen as a bully, and moreover perhaps, as a hypocrite, given that Hirst himself has taken ideas from other artists, notably the claim by former Hirst friend and artist John LeKay, whose crystal-studded skulls done in the 90s bear resemblance to ‘For the Love of God.’

Enter Red Rag to a Bull, an artist collective including Jamie Reid, who made the cover for the Sex Pistol’s album ‘God Save the Queen,’ James Cauty, who, when in the band KLF, burned £1 million, and Tracey Emin’s former boyfriend Billy Childish. Through their website, the collective has launched a campaign to get back at Hirst by selling limited edition works that lampoon Hirst’s work and name, as well copyright laws. By buying these works, ‘you can now save this Street Urchin from certain death and help him get back the 200 quid that this Hirst allegedly nicked off him.’

Red Rag to a Bull
Artists declare war on ‘bully’ Damien Hirst [The First Post]
God save the Damien Hirst rip-off industry! [The Independent]
Artists flout copyright law to attack Damien Hirst [Telegraph]

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Encased — 5 Rows (6 Spalding Scottie Pippen Basketballs, 6 Spalding Shaq Attaq Basketballs, 6 Wilson Supershot Basketballs, 6 Wilson Supershot Basketballs, 6 Franklin 6034 Soccerballs) (1993) by Jeff Koons. Lot unsold. Estimate range: £1,800,000 to 2,200,000.

Phillips de Pury & Co. raised a total of £4.2 million at their February 12th auction of contemporary art, with 35 of 53 lots selling. The entire sale was expected to realize £6.8 million – £9.3 million.  The higher priced lots were shunned in favor of those with estimates under £500,000.

The highest priced lot was Martin Kippenberger’s Portrait of Paul Schreber (Designed by Himself), which sold for £432,000, at the low end of its presale estimate of £400,000 to £600,000. The 8-foot high oil, lacquer and silicone is an abstract portrait of Paul Schreber, an early 20th century German judge who suffered several nervous breakdowns, and was the subject of a seminal clinical psychology paper by Sigmund Freud. The portrait is based on a sketch in Schreber’s autobiography, where he draws what he imagines his brain to look like: one healthy side and one ill side. Dan Colen’s Untitled (Going, Going, Go. . .), of a candle whose smoke spells out the painting’s title, sold for £92,500, more than double the high estimate. This sale also set a new auction record for the artist.

Zeng Fanzhi’s Huang Jiguang, from 2006, sold for £360,000 against pre-sale estimates of £200,000 to £250,000. The 11 foot wide depicts a Chinese war hero from the Korean War, who is famous for having sacrificed himself in a crucial battle. Mixing historicity and myth with an abstract landscape as background, Fanzhi is one of China’s foremost contemporary artists and is known for his Mask series.

A Jeff Koons sculptural installation featuring a glass-encased vitrine stocked with various basketballs and soccer balls failed to sell. It was the only lot priced higher than £1 million, and failed to generate a single bid despite being the cover lot by a prominent name.

The auction results were unimpressive on the whole, reflecting the general sense of ambivalent malaise that still plagues the art market. The consensus among many dealers and collectors is that it is a buyer’s market, and many sellers have not adjusted their pricing expectations to reflect the ongoing correction–until this mismatch is corrected, there will continue to be anemic auction results.

Auction Page: Phillips de Pury Contemporary Art Evening Sale
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Koons Work Snubbed for Cheaper Art in London as Bargains Sought [Bloomberg]
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Phillips Sale Misses the Mark [ArtInfo]
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ART MARKET WATCH: £4.2 million at Phillips London [Artnet]
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Phillips de Pury & Company’s London Contemporary Art Sale Results Confirm Market Demand for Quality Works [ArtDaily]

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Hermitos Children by Spartacus Chetwynd via Art Daily.

This week the Tate Modern has unveiled its 2009 Triennial, Altermodern. The museum’s fourth Triennial highlights fewer British artists than previous exhibitions and has instead aimed its efforts at highlighting a new movement in art. The exhibition is curated by Nicolas Bourriaud who defined the “Relational Esthetics” art movement and is now using the Tate’s Triennial as a showcase for his most recently conceived movement: Altermodernism. The exhibition which comes with a manifesto in tow declares foremost that Postmodernism is dead.  In its place is a new movement defined by ever-increasing globalization and the heightened communication, travel and migration that is the result.  As Bourriaud explains “If early Modernism is characterised as a broadly Western cultural phenomenon, and Postmodernism was shaped by multiculturalism, origins and identity, Altermodern is expressed in the language of global culture.” In short today’s artists are now starting from a globalized state of culture where the origins of  any one person have become increasingly similar to the origins of any other given person.

Altermodern is a swarm of drawings, sculptures, videos, photographs, slide shows, installations, soundtracks, documentaries, and performances. Many works included are several mediums at once as the pieces tend to be a collage of related matter as opposed to a single defined piece; reflecting the idea of Altermodern as complex fusion of ideas and influences. The artists producing these pieces are mostly thirty-somethings that live or work in Britain, though keeping with the globalized theme of the show a  notable number are identified as ‘passers-by.’ Along with up and coming artists such as Tris Vonna-Michell and Ruth Ewan the exhibit includes some bigger names who have been shortlisted for the Turner Prize including Bill Nelson and Darren Almond.

Altermodern Tate Triennial [Tate]
Altermodern: Tate Triennial 2009 at Tate Modern [Times Online]
Altermodern, Tate Triennial 2009, review [Telegraph]
Tate Triennial 2009 Interview With Curator Nicolas Bourriaud [Frieze]
New sensation: The next generation of Young British Artists [Independent UK]
Altermodern: Tate Triennial 2009 Presents Some of the Best New Contemporary Art in Britain [Art Daily]
Art in search of a label [Financial Times]

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Dans la prairie (1876) by Claude Monet; Sold for  £11,241,250 ($16,104,942), against estimates of around  £15 million. Image via Artnet.

“It was a great sale and brought back a lot of confidence to the market.” Leon Benrimon, in remarks to ArtInfo.

Christie’s evening sale of Impressionist and Modern Art, held February 4th, has been hailed by some as a confidence-building event which demonstrated that there is some vitality left in the art market, while others give credit for the auctions ostensible success to high quality pieces (often being auctioned for the first time in decades), along with low estimates and low expectations. The auction realized a total of £63.4 million or $91.2 million, well within its range of £58.8 million to £86 million. In the course of the evening, 39 of 47 lots were sold, with 4 lots sold for over £5 million, 16 for over £1 million, and 25 for over $1 million.  According to Christie’s, 54% of the works were bought by European bidders, 26%  from the U.S., 18% from the U.K. and 2 percent from Asia.

Dans la prairie, by Claude Monet, was the highest priced lot of the night despite falling below its expected range.  The painting, which was exhibited for the first time at 1877’s seminal Impressionist Exhibition, sold for £11.2 million, or $16.1 million–while the range for the painting was unpublished, it is thought to be somewhere in the £15 million range. Dans la prairie‘s subject is Monet’s wife, Camille, reading in a meadow in Argenteuil, a few kilometers north of Paris. It was bought in a single telephone bid made by Anika Guntrum, a Paris-based Christie’s specialist, on behalf of an anonymous buyer.

Monet oil tests art market [GuardianUK]
Monet Painting of Wife Sells for 11.2 Million Pounds [Bloomberg]
Monet painting sells for £11.2 million, £4 million below estimate [Telegraph UK]
Monet, Modigliani, Low Estimates Boost Christie’s London Sale [Bloomberg]
Impressionist and Modern sale nets £63.42 million at Christie’s [IHT]
Christie’s “Brings Back Confidence” [ArtInfo]
Claude Monet’s Dans la Prairie Sells for $16,164,918 at Christie’s Auction of Impressionist and Modern Art [ArtDaily]

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Diana and Actaeon (1556-1559), by Titian, via The Guardian.

Titian’s masterpiece painting Diana and Acteon (1556-1559) has finally been secured. The five-month campaign to raise £50 million has succeeded.  The National Galleries of Scotland and London’s National Gallery made a joint effort to raise the funds.  The Scottish government pledged £2.5 million, £.4 million came from public donations, and £2.5 million came from the National Galleries in London. The rest of the money came from the National Heritage Memorial Fund which gave £10 million; the Monument Trust which pledged £2 million; £.6 million came from the National Galleries of Scotland and £1 million was taken from the Art Fund.  Such a joint venture outweighs the previous fundraising record of £22 million in 2004 for Raphael’s Madonna of the Pinks.

The fundraising campaign had the backing of 40 leading contemporary artists such as Lucien Freud, David Hockney, Damien Hirst, Tracey Emin, and Antony Gormley.

Museum page: National Galleries of Scotland
Funds Secured for Titian Painting [BBC]
UK Buys Titian Diana Painting for 50 million Pounds [Bloomberg]
Titian’s Diana and Actaeon Saved for Nation as Art Galleries Hit £50 million Target [TimesUK]
Artists Jubilant as £50 million Titian Saved for Nation [The Independent]
Titian’s Diana and Actaeon Saved for the Nation [The Guardian]
Is Titian’s Diana and Actaeon worth £50 million? Definitely [The Telegraph]
National UK Galleries mobilize to secure Titian masterworks [ArtObserved]

More detail on the story after the jump…

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Race Riot by Andy Warhol, top left, Forget It! Forget Me! by Roy Lichtenstein, right, and Life is a Killer by John Giorno, bottom left. Undated picture taken at the Rose Art Museum, Brandeis University, Waltham, Massachusetts. Image via Bloomberg.

Several major Brandeis University donors and trustees suffered substantial losses when Bernard Madoff’s Ponzi scheme was exposed, leaving the university in a very precarious financial position.  Facing a potential $79 million deficit, according to an official interviewed at the Daily Beast, the university is facing some rather stark choices: closing the Rose Museum and selling the entire collection at a fire sale price, or potentially firing up to half of its faculty.

Museum page: Rose Art Museum
Statement from Michael Rush, Director of the Rose Art Art Museum, regarding the impending closing of the museum [Rose Museum]
Brandeis Forced To Close Museum [WSJ]
Outcry Over a Plan to Sell Museum’s Holdings [NYT]
Brandeis Art Sale Illustrates Pressures on Colleges [WSJ]
Brandeis President Says School May Keep Its Art, but Rose Will Close [ARTINFO]
Brandeis may keep art, says president [Boston Globe]
Critics Blast Brandeis Plan to Close Rose Museum, Sell Artworks [Bloomberg]
Protests, Rumors swirl in Rose Musem closing [Artnet]
Q&A with Rose Art Museum director Michael Rush [ArtJournal]
A Madoff Sell Off? [TIME]
Brandeis on the Brink [The Daily Beast]
Save the Rose Art Museum [Facebook]

More detail on the story after the jump…

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Charles Saatchi, photo via Welt

British art collector, Charles Saatchi, famous for launching the now established careers of “Young British Artists” of the 1990’s such as Damien Hirst and Tracy Emin and others, is set to preside over a new reality television show on BBC2, described as the Art X Factor.

In an attempt to be the next YBA Hirst or Emin, artists over the age of 18 and residing in the UK will submit their work online.  All artistic genres, from painting to conceptual, will be accepted.  A panel of art world experts will narrow the entries down to approximately 50 which will then be presented to Saatchi in the form of an exhibition.  Saatchi, himself, will then select six of these artists to participate in the TV show “Saatchi’s Best of British.”

Charles Saatchi is indisputably one of the most significant figures in the art world.  In 1970, Saatchi founded the advertising agency Saatchi & Saatchi with his brother Maurice.  By 1986 Saatchi and Saatchi grew to be the largest ad agency in the world, with over 600 offices.  Yet Saatchi is as much famous perhaps for his direct influence in the art market, establishing the Saatchi Gallery in 1985 in London.  He recently opened his new space in October of last year at Duke of York Headquarters Building in Chelsea, London (as covered by Art Observed here).  In 1997 he mounted an exhibition at the Royal Academy titled Sensation, which travelled to Berlin and New York ruffling feathers along the way and causing the regognition of the artists in the show to in most cases shift to an entirely higher plane.

Jonathan Jones: Reality TV has nothing to offer the art world [Guardian]
Saatchi to front art talent show [BBC]
BBC and Charles Saatchi Launch Reality Show [Art Daily]
Charles Saatchi to host Art X-Factor [Times]
TV show hunts for next Damien Hirst [Metro]
Reality show taps Saatchi [CBC]
X Factor for budding artists [Marie Claire]

More after the jump… (more…)

The late Yves Saint Laurent and Pierre Berge

A look into Christie’s coming Yves Saint Laurent sale, the largest single owner sale in auction history [Economist]
An interview with artist Jenny Holzer [Art21]
A review of Denis Dutton’s book “The Art Instinct: Beauty, Pleasure and Human Evolution” which attempts to define art within a socio-biological context [NYObserver]

Bernd Runge, now at the helm at Phillips de Pury via Tattler.ru

Ex-VP of Conde Nast (and ex-East German Stasi secret police spy) appointed by newly Russian owned Phillips Auction house as CEO and in related, Ex-British Petroleum CEO to run the Tate museum group [Bloomberg]
Sotheby’s discontinues the practice of allowing art to be bought at auction with credit cards [NYMag]

Guernica – By Pablo Picaso via Pdx.edu

Picasso’s Guernica to adorn Whitchapel Gallery reopening in April [ArtNewspaper]
Christie’s combines 19th Century European Art, Old-Master Paintings, Old Master Drawings and British Drawings into one department to create an umbrella category for art between 1300 and 1900 [NYTimes]
The complicated process behind creating and selling forged Russian artwork [Forbes]

Abstraktes Bild 809-3 (1994) by Gerhard Richter, via the Tate

Under a program called “Artist Rooms,” the British public (and anyone visiting the United Kingdom) will be able to enjoy a large and diverse collection of contemporary art, including works by Joseph Beuys, Jenny Holzer, Cy Twombly, Andy Warhol, Robert Mapplethorpe, Diane Arbus, Gerhard Richter, Gilbert and George, Damien Hirst and other prominent and influential artists ranging from the immediate postwar period to the present.

The works originally belonged to Anthony d’Offay, one of contemporary art’s most powerful dealers and collectors. d’Offay relinquished his 725-piece collection worth £125 million to the British and Scottish governments; the dealer effectively sold his collection to the governments for £26.5 million, far below market value . The collection was then transferred it to the National Galleries of Scotland and the Tate.

The works are set up in a series of 50 rooms featuring 25 artists, located at 18 galleries and museums throughout the United Kingdom, in an ambitious effort to broaden the audience and geographical reach of contemporary art. Sir Nicholas Serota, head of the Tate, expressed the hope that the show could be kept on the road indefinitely(as reported last February by Art Observed here).  The Art Fund, an arts charity, is working in conjunction with the Tate and the National Galleries of Scotland, and has pledged £250,000 a year to help keep the “permanent tour” going.

“Artist rooms” marks the first time a national collection is being shown simultaneously across the UK, and the first room will open on March 2nd, 2009 at the Tate Britain, featuring the work of Ian Hamilton Finlay.

Rooms with a view: £125m art collection tours UK [Guardian]
Art collection to be split and shown around UK [Reuters]
Artist Rooms Collection of Contemporary Art Goes Nationwide [ArtDaily]
British Dealer Anthony D’Offay Sells 725 Works to Tate for Reported Fifth of Their Value [ArtObserved]
Exhibition page: Artist Rooms collection at the Tate
Exhibition page: Artist Rooms collection at the National Galleries of Scotland

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Terence Koh in United  Bamboo via Refinery29

Artist and downtown NYC fixture Terence Koh Models for United Bamboo [Refinery29]
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A review of director of Hauser and Wirth gallery Gregor Muir’s book on the seminal period of the Young British Art movement of the 80’s “They were too drunk, too coked up, too busy scrounging up some rent, too out of work and squalor-happy to remember much about the glory days.” [TimesUK]
–>
Art Tactic reports 81% fall in confidence levels in contemporary-art market, predicts 3-5 years to recovery, institutes new “survival rating” to predict artists to be considered still relevant in 10 years [Bloomberg]
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In related, the Art Newspaper offers predictions for the market in 2009 [ArtNewspaper]
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Olafur Eliasson’s book via Space Invading

Commissioned by MOMA, Olafur Eliasson creates 454 page, 85:1 scale, laser-cut negative space rendering of his home [SpaceInvading]
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Video of Rirkrit Tiravanija serving up vegetarian curry at a grafitti’d construction installation at David Zwirner [NewArtTV]
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The Louvre begins managing its first ever endowment of $230m received from the United Arab Emirates to build a museum there [NYTimes]
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When artwork decays and requires reproduction [WallStreetJournal]
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Anthony Haden-Guest on Yves Saint Laurent’s 700+ work art collection to be auctioned in February by Christie’s Paris at a £200m to £300m estimate [GuardianUK]
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Opening night for New Paintings by Peter Doig at Gavin Brown’s Enterprise photos by Art Observed

New Paintings by Peter Doig, opened at Gavin Brown’s enterprise and Michael Werner Gallery on January 17th. Doig, a Scottish artist who grew up in Canada and Trinidad, where he currently lives, has not had a solo show in New York since 2002, when Michael Werner Gallery exhibited a survey of his works on paper. ‘New Paintings’ feature several works painted by Doig over the last two years in his studio in the Caribbean.

Man dressed as a bat (2008) by Peter Doig, via Gavin Brown’s enterprise

NEW PAINTINGS
January 17th to February 21st, 2009
Gavin Brown’s enterprise
620 Greenwich St
New York, NY
Open Tues – Sat, 10am to 6pm.

Exhibition page: New Paintings
Profile: Peter Doig at Saatchi Gallery

My life in art: How Peter Doig taught me to pay attention [Guardian UK]

Previously on ArtObserved:
Go See: Peter Doig Retrospective at the Tate Britain
Go See: Peter Doig Retrospective at the Schirn Kunsthalle, Frankfurt

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Andrew Wyeth, photographed at his Chadd’s Ford, Pa. property, via the New York Times

“Wyeth was an anti-modern painter … He did paintings that never changed, in a style that never changed. His image is one of stasis in a world that changed dramatically around him, and for my money that is a conservative position. It is in many ways a futile exercise, but he did it with great energy and conviction.”
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— Robert Storr, Dean, Yale University School of Art, to the New York Times.

Andrew Wyeth, a key figure in 20th century American art and one of its most popular artists, died on Friday, January 16th, 2009 at the age of 91.  Wyeth’s oeuvre, which falls squarely within the realism genre of painting, has provoked both intense praise and intense criticism regarding the quality and content of his work.

His paintings centered around depictions of rural America, its landscapes and its people, and was often dismissed as formulaic, trite Americana. His works were infused with a sincerity that stood in marked contrast to the Modernist, Abstract Expressionist and Pop art movements that emerged during his career.  Nevertheless, the artist was always sought out among the general populace, with paintings such as Christina’s World becoming as familiar as Grant Wood’s American Gothic, becoming widely reproduced in prints. Wyeth was especially popular in Middle America for what many considered a steadfast, romantic patriotism and attachment to rural themes and subjects.

An Unmistakable Figure on the Barren Landscape [Washington Post]
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For Wyeth, Both Praise and Doubt [New York Times]
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Andrew Wyeth, Painter, Dies at 91 [New York Times]
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Andrew Wyeth, painter of Christina’s World, dies aged 91 [Times UK]
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Andrew Wyeth, Painter of ‘Christina’s World,’ Dies [Bloomberg]
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Weighing Andrew Wyeth [Wall Street Journal]
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US artist Andrew Wyeth dies [BBC]

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Chiara Clemente, photo by Maciek Kobielski via NYT

Our City Dreams, a new documentary by Chiara Clemente, daughter of renowned painter Francesco Clemente, is set to have its New York theatrical premiere at Film Forum, Wednesday, February 4, 2009.

The film, an 87-minute-long “love letter to the city,” enters the creative spaces of five women artists ranging in age from 30 to 80, from different generations and cultures, but whose work and lives are now intrinsically connected to New York City – Swoon, Ghada Amer, Kiki Smith, Marina Abramovic, and Nancy Spero.  Each artist is allotted her own segment which explores her work and complex relationship to the city.

The film is crafted in black-and-white, color, super 8, 16mm, DV and HD shot by Theo Stanley, and followed by a theme-driven score by Thomas Lauderdale.  Variety’s Ronnie Scheib states that Clemente’s “exquisitely crafted” documentary “itself quite simply ranks of a work of art.”

Our City Dreams Website
Film Forum
Review of Our City Dreams [Variety]
Loving Portrait of 5 NYC Women Premieres at Film Forum [Art Daily]

Our City Dreams – 87 minutes – distributed by First Run Features

More information and images after the jump..

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Christie’s headquarters, 8 King Street, London

Christie’s has announced a broad restructuring plan in measures designed to deal with the deteriorating economic environment, and the resulting fallout in the art market.

While details are still vague, a statement issued by Christie’s indicated that the company has “begun to implement a company wide reorganization, which includes significant staff reductions, not renewing many consultants’ contracts, and the continuation of other cost-reduction initiatives, that will ensure we remain competitive and profitable in 2009,” without specifying exactly how many jobs would be eliminated.

“There’s a consultation process going on at the moment, so we’re not in a position to comment on numbers,” Alexandra Buxton, Christie’s European head of public relations, said in a telephone interview with Bloomberg. These measures follow a series of dismal auctions including a contemporary art sale in November where $114 million, or less than half of the low estimate was raised, as covered here by ArtObserved.

Christie’s cut costs as art market slows [New York Times]
Christie’s Auction House to Slash Jobs [Wall Street Journal]
Christie’s to Cut Jobs as Crisis Cuts Auction Sales [Bloomberg]
Christie’s Plans “Significant Staff Reductions” [ArtInfo]
Cuts Announced at Christie’s and Denver Art Museum; LA Arts Writers See Layoffs [ArtForum]

Previously on ArtObserved:
CHRISTIE’S AND SOTHEBY’S OLD MASTERS AUCTIONS IN LONDON SHOW RESILIENCE Dec 5
AO AUCTION ROUNDUP 5 OF 5 – NOVEMBER AUCTION SUMMARY: THE REALITY OF AN INDISPUTABLE BUYER’S MARKET Nov 19
AO AUCTION RESULTS: CHRISTIE’S “THE MODERN AGE,” THE ALICE LAWRENCE AND HILLMAN FAMILY COLLECTIONS SELL FOR LESS THAN 50% OF ESTIMATE AS ROTHKO AND MANET HEADLINERS ARE PULLED Nov 8
SOTHEBY’S STOCK DROPS 14% (DOWN 75.7% FROM ITS HIGH) FOLLOWING DISMAL ASIAN AUCTION RESULTS Oct 7
TOP AUCTION HOUSE PHILLIPS DE PURY BOUGHT BY RUSSIAN LUXURY RETAIL COMPANY MERCURY GROUP Oct 7

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Degas’ ‘Petite Danseuse de Quatorze Ans’ via Guardian

Degas’ Petite Danseuse de Quatorze Ans, bought for £5m five years ago, is  expected to sell for £12m despite the recent market slowdown. Sir John Madejski, owner of Reading FC and a noted British philanthropist, will be selling Degas’ sculpture at Sotheby’s sale of impressionist art in London next month.

Petite Danseuse, created during 1879 and 1881 is the only sculpture Degas exhibited in his lifetime, and was cast in wax since the artist could not afford to have it done in bronze. The model for the sculpture was Marie van Goethem, a ballerina with the Paris Opera, who was also the inspiration for several of Degas’ paintings.

Madejski puts Degas dancer back in the transfer market at £12m [Guardian]
Degas’s The Little Dancer up for sale [Telegraph]

Richard Prince (left) and Larry Gagosian (right), via ArtInfo

Patrick Cariou, a photographer, has filed a lawsuit against Richard Prince after the artist allegedly used photographs without consent from Yes Rasta, a book released by Cariou in 2000, in several of his works in his ‘Canal Zone’ series, which is based in part on a post-apocalyptic vision of the island of St. Barths (exhibit covered by Art Observed here).  Larry Gagosian and Rizzoli, the publisher of Richard Prince’s book, are also named as defendants. Gagosian’s involvement stems from the fact that the works in question were featured a month ago at the ‘Canal Zone’ show at his gallery, while Rizzoli is responsible for the book covering the exhibition.

Prince, who is most famous for collages of photographs from ads often featuring prominent brands and iconic figures, among other things, has caused a stir in the past due to allegations of copyright infringement and misappropriation.  In this specific instance, Cariou is especially incensed due to the fact that he spent 10 years in the mountains of rural Jamaica gaining the trust of the Rastafarians who are the subject of his book, only to have these images easily appropriated by Prince without any indication of context or subtext.

Richard Prince and Gagosian get slapped with suit [ArtFagCity]
Photographer Sues Prince, Gagosian, and Rizzoli [ArtInfo]
Artist site: Richard Prince
Gallery: Gagosian

Previously on ArtObserved:
AO ON SITE: RICHARD PRINCE’S CANAL ZONE, GAGOSIAN GALLERY, SATURDAY, NOVEMBER 8TH, CHELSEA, NEW YORK

Winter Landscape, Huang Xi via Interview/Terence Koh

Winter Landscape, an installation by Tianjin-based artist Huang Xi, is on view twenty-four hours a day until January 31, through a peep hole in the window of Terence Koh’s Asia Song Society Gallery, on Canal Street in New York’s Chinatown.  Koh describes Xi’s piece as a “joyful winter landscape” based on Caspar David Friedrich’s “Winter Landscape With Church” (1811), but without the “religious” part.  At night a red light glows from ASS’s store front window which has been treated to look as if frosted over in a storm.

Invite for Winter Landscape, Asia Song Society

Winter Landscape is on view at Asia Song Society, 45 Canal Street, New York, NY, December 19, 2008 – January 31, 1009

Asia Song Society
Terence Koh [Hint Mag]
Winter Postcard from Terence Koh [Interview]

‘Rabbit’ by Jeff Koo ns, as displayed at Versailles via Bloomberg

Jeff Koons’s show at Versailles, previously covered here by ArtObserved, was mired in controversy right up to its very end.  Prince Charles-Emmanuel de Bourbon-Parme, a descendant of the Louis XIV, the Sun King who built the Versailles palace where the exhibition took place, filed a lawsuit in the administrative court of that town to bring the show to a halt based on the “right to live without the profanation of one’s ancestors” and the “right to access knowledge of heritage without pornographic constraints.” Prince Charles-Emmanuel considered the show “pornographic” and “a desecration and an attack on the respect due to the dead,” and vowed to take the lawsuit to the Conseil d’Etat, France’s highest court for state affairs, after it was dismissed by the judge in Versailles.

Jeff Koons Versailles was the first Koons retrospective in Europe, and is considered responsible for a 15% increase in visitors to the Versailles palace since it opened in September. The exhibition closed on January 4th, 2009.

Descendant of Louis XIV tries to ban exhibition [Guardian]
Royal Heir Angered by Koons at Versailles [New York Times]
Sun King descendant loses case against Koons exhibition at Versailles [ArtForum]

Previously on ArtObserved:
GO SEE: JEFF KOONS’S CONTROVERSIAL INSTALLATION AT VERSAILLES, FRANCE, THROUGH DECEMBER 14 [September 12th, 2008]
JEFF KOONS SETS UP AT THE PALACE OF VERSAILLES, FRANCE IN SEPTEMBER [August 8th, 2008]

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Untitled (mattress) (1991) by Rachel Whiteread, via The Museum of Modern Art

Brazilian Photographer Vik Muniz has curated an exhibition at the Museum of Modern Art featuring approximately 80 works from the museum’s collection, including those by Eugène Atget, John Baldessari, Marcel Duchamp, Nan Goldin, Gordon Matta-Clark, Pablo Picasso, Dieter Rams, and Rachel Whiteread. The exhibit is part of Artist’s Choice, a series of exhibitions where an artist becomes a curator using selected works from the Museum of Modern Art’s Collection.

Muniz often questions the traditions and symbolism of visual representation by contrasting unlikely materials to depict subjects in his photographs. In this exhibition he has similarly brought works together out of their normal museological classification, thus allowing the viewer to create their own visual interpretation of artworks based on various linkages and connections. For the show’s theme, he employs a rebus, a puzzle that uses carefully connected images and symbols to create a phrase or a sentence. Instead of forming a sentence, he organizes the artworks by linking them through similarities in material, subject matter, technique, and form.

Artist’s Choice: Rebus, Vik Muniz
Museum of Modern Art
New York, New York
through February 23, 2009
Exhibition Page: Artist’s Choice: Rebus, Vik Muniz
Press: ‘Art’s Choice + Muniz = Rebus’- Connecting the Dots at the Museum of Modern Art New York [New York Times]
Vik Muniz on Guest-Curating his MoMA Show, ‘Rebus’ [New York Mag]
Vik Muniz Creates Rebus, an Inventive Narrative of Works from MoMA’s Collection [ArtDaily]

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DAMIEN HIRST – Beautiful Artemis Thor Neptune Odin Delusional Sapphic Inspirational Hypnosis Painting, 2007 – LOT 17 at Phillips de Pury Nov. 13th auction – UNSOLD – ESTIMATE $3,000,000-4,000,00

Demand for Damien Hirst’s artwork is reportedly drying up a bit after the artist sold almost $200 million worth of art on September 15th (as covered by ArtObserved here,) the same day that Lehman Brothers collapsed and the Dow posted its then-largest single day decline. Christopher van de Weghe, a New York art dealer, recently sold only 2 of 8 lots at this year’s Art Basel Miami Beach–with those two lots selling for several thousand dollars, much less than the recent low estimates  of their respective price ranges at auctions.  Even sales of certain Hirst art works with larger more recognizable runs, such as the medicine cabinets and spin paintings, are very slow–so slow in fact that Hirst’s production company, Science Ltd, is laying off up to 20 people (as covered by ArtObserved here.)

Additionally, several art markets experts expect prices for Hirst’s work to remain depressed through most of 2009 due to the significant output of supply that has come online in the last few years. “We will see less of him at auction or we’ll see as many works but with lower estimates,” said Anders Petterson, chief of ArtTactic market research firm, via Bloomberg. Petterson added, on the topic of a survey his firm conducted with 150 art industry respondents regarding Hirst’s works: “the feeling is that the Hirst market has been stretched a bit too far, almost as if it snapped and backfired.” This sentiment is echoed by other dealers and analysts in the same article. “There’s little or no activity at $1 million or higher,” said Chelsea dealer Perry Rubenstein, who has sold various Hirst artworks in the past. “The price level for his market is completely unclear right now,” said David Zwirner, the owner of one of the two largest galleries in Chelsea. However, both of these points could be applied to the broader art market, as there is very little visibility as to when and how the market could eventually recover.

Damien Hirst. Image via Portfolio.

The consensus now seems to be that “Beautiful Inside My Head Forever,” Hirst’s $200 million show earlier this year, which to some has come to signify much of the effervescence of the better part of the past decade, was most likely the peak of the market not just for Hirst but perhaps for the art market in general.   The success of that sale was notable and controversial not only in its extraordinary payout to the artist but also because the artist took his product directly to market using Sotheby’s, thus circumventing the dealers (primarily Larry Gagosian in New York and Jay Jopling in London).  Much of the success of that show has been attributed to the fact that Sotheby’s linked the work up with new pools of buyers hitherto untapped by Hirst’s dealer network, even taking the artworks on a roadshow to such places as India and the Hamptons vacation market in New York (covered by ArtObserved here).

Despite the historical success of the Sotheby’s sale, the type of art production and sales system that Hirst embodies could be particularly vulnerable in a down market.  Hirst’s work is systematic, ubiquitous, highly marketed through crossovers into fashion and music and backed by a highly extroverted large sized personality.  His works stand in contrast to, for instance, a less frequently produced Peter Doig painting, or for a more recently in the news example, a John Currin work, which, due to its rarity as a singularly produced oil painting, actually outperformed estimates in the recently depressed November New York auctions (his Nice ‘n Easy, 1999, oil on canvas work sold for $5,458,500, above it’s estimate of $3,500,000 to $4,500,000, as covered by Art Observed here.)    Hirst’s artwork can seem to be a sort of luxury product, a metal and formaldehyde accessory.  A Hirst work is in many ways a sort of status symbol that is more easily accepted by non-insider art buyers than another valuable but more esoteric work.  Many of Hirst’s works are  immediately striking or controversial, such as diamond encrusted skulls and massive, bisected animals in glass cases and they are thus very readily absorbed by all facets of media and correspondingly, by popular culture.   Many of the works are produced in large consistent series that are not only recognizable but marketed in such a way that new buyers might acquire them comfortably due to their mass cultural acceptance.

However, as the world economy has slowed the deep pools of potential buyers has dried up, leaving the buying activity largely in the hands of serious, experienced, sophisticated buyers who act with precision to acquire significant, quality works not recently nor perpetually produced by an art factory system.   The same mechanism that propelled Hirst to Icarian heights may thus cut him off at the knees.  In a burgeoning economy, relentless art production and marketing can grow an artist’s prominence, yet in a retreating market the high elasticity of art prices reacts quickly and negatively to the disproportionate supply.  Nevertheless, Hirst is a phenomenon not only in the works he produces but certainly in the way in which he operates within the art market, constantly pushing at the edges of the system.  He should in all likelihood continue to be unpredictable, dynamic and innovative in the upcoming years and should as such not be written off.

For the Love of God (2007) by Damien Hirst, via Wikimedia

Hirst Sale, Lehman Bust Mark End of Frothy Era: Martin Gayford [Bloomberg]
Damien Hirst, of $100 Million Diamond Skull, Sees Prices Slump [Bloomberg]
Has Hirst’s Bubble Burst? [Portfolio]
Hirst Market in Decline, Say Researchers [ArtInfo]
The Retreat [ArtMarket Monitor]
Damien Hirst’s primary-market Sotheby’s auction sets records alongside historic financial market collapse [ArtObserved]

Museum of Contemporary Art in Los Angeles, via NY Times

The Museum of Contemporary Art has been beset by financial troubles that threaten its sustainability. The museum went through all $20 million of its unrestricted funds several years ago, and its endowment, which stood at around $40 million at the beginning of the decade, is now at $6 million, a number which compromises the covenants upon which it was established. Its financial cushion has been further eroded by the financial crisis and a decrease in donations. MOCA, founded in 1979, is considered to be one of the world’s premier contemporary art museums, and is now on the brink of insolvency.

Los Angeles Museum Agrees to Accept Rescue Deal [NY Times]
Mayor Antonio Villaraigosa makes a plea to MOCA [LA Times]
Director Strick said to be latest casualty at MOCA [LA Times]
Los Angeles Museum Proposes to Save Another [NY Times]
Thinking About MOCA [Time, Looking Around]
Making sense of a total mess (or not) [Modern Art Notes via C-Monster]

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Self Portrait (1630) by Rembrandt van Rijn; stolen in 2000, recovered in 2005 by a team led by Robert Wittman. Image via Codart

Via the BBC: “It’s about saving the cultural property of mankind … Every country has a different cultural heritage and saving these things brings us closer together as human beings. When it comes to art, it’s visceral. It affects us in a deep, emotional way.” – Robert Wittman

20 years after leading his first major art recovery operation,  the FBI’s top agent in art theft investigations and recoveries is set to retire. By often posing as a crooked art dealer working on behalf of wealthy organized criminals, Special Agent Robert Wittman has played a key role in recovering $225 million in stolen art over his career, often going undercover to retrieve very high profile works of art.

His first assignment, in 1988, involved recovering the second largest crystal ball in the world, once owned by the Empress Dowager Cixi of China. The ball was stolen from the University of Pennsylvania Museum of Archaeology and Anthropology in the middle of the night. Within two years, Wittman recovered the crystal ball, as well as “Man with a Broken Nose,” a Rodin from the 1860s that was also stolen that year, impressing the FBI enough to install him as head of art crimes investigations.  Since then, 9 out of 10 cases he has participated in have involved some sort of undercover operation, which draw on what sources describe as Wittman’s considerable charm and his ability to blend into any crowd due to his average build and ‘average Joe’ features.

FBI: Top Ten Art Crimes
FBI: Art Theft Program
The invisible man rescuing art [BBC]
FBI’s Top Investigator Involving Art Theft and Art Fraud, Robert Wittman, Retires [ArtDaily]
Missing A Masterpiece? Call FBI’s Art Crime Team [NPR]
The Heist Meister [Art Market Monitor]
Stolen Rembrandt work recovered [BBC]

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