AO Auction Results: Sotheby’s Contemporary Art evening sale, London, Thursday, February 5, 2009, Richter, Koons and Fontana lead robust results

Sunday, February 8th, 2009


Stacked (1988) by Jeff Koons; Sold for £2,841,250 ($4,136,939) against estimates of £2,200,000 - £3,200,000 ($3,215,434 – $4,676,995). Image via Artnet.

Sotheby’s contemporary art evening sale concluded this week’s auctions on a high note, as 25 of 27 lots by Lucio Fontana, Andy Warhol, Gerhard Richter, Jeff Koons and Damien Hirst, among others, were sold to collectors taking advantage of the art market’s price correction. The auction attracted relatively brisk bidding on several of the lots on offer, with over 200 clients registering to participate in the auction.

The sale realized a total of £17,879,250 ($25,785,250), solidly within the estimate of £16.5-23.1 million, selling 92.6% by lot–one of the highest ever achieved for a February contemporary art auction at Sotheby’s–and 90.7% by value. 24% of buyers were from the US, with 48% European, 12% Middle East, and 16% Asian being the breakdown for the remainder.

The lot featured on the catalogue cover, Concetto Spaziale by Lucio Fontana, was the highest priced lot, although it sold for £4.4 million ($6.4 million), or 12% below its £5 million ($7.3 million) low estimate. The painting is part of the 22-piece Venezia series, conceived and executed in 1961 by Fontana, widely considered to be Italy’s foremost post-war artist. While the lot was bought below the low estimate, it still set a record for a painting from the Venezia series. It was bought directly from the artist shortly after its execution and resided in a private collection for over 45 years, never shown in public during that period.

Successful auction sales calm jittery art market [Financial Times]
‘Rediscovered’ art fetches £4.4m [ BBC]
Koons, Fontana Works Sell in Smaller London Art Sale [Bloomberg]
A Svelte Sale Yields Positive Results at Sotheby’s [ArtInfo]
Sotheby’s February 2009 Contemporary Art Evening Sale Achieves $25,785,250 [Art Daily]

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Newslinks for Wednesday, February 4, 2009

Wednesday, February 4th, 2009


Pablo Picasso’s Boy Leading a Horse” (1905 to 1906)  via the MoMA

Guggenheim and MoMA keep two works by Picasso after settlement with heirs alleging works were sold under Nazi duress [Bloomberg]
The austerity of Christie’s and Sotheby’s during leaner times in the art market
[NYimes]
In related, how major London galleries are cutting staff and shuttering spaces
[TheArtNewspaper]


Railcars and rooftops bear JR’s imagery in Kibera, Kenya via WoosterCollective

Street artist JR wheatpastes his art on 2,000 square meters of rooftops and railcars in a Kenyan slum [WoosterCollective]
On the practice of hypothecating fine art as collateral for loans
[Financial Times]


Damien Hirst’s “Human skull in space” (oil on canvas), cover art for the 150th anniversary edition of Charles Darwin’s On the Origin of Species – via the The GuardianUK

Damien Hirst does cover design for the 150 year anniversary of Charles Darwin’s On the Origin of Species [GuardianUK]
The rise of Nicola Vassell, from gallerina to Director at Deitch Projects in New York
[NYTimes]


The Colossus, historically attributed to Goya, via Reuters

Chief conservator of the Prado announces that their Colossus was probably created by Goya’s apprentice [Reuters]
The Dallas Museum of Art is in acquisition mode
[Artdaily]
A profile of artist Walton Ford, creator of dramatic naturalist canvases
[NewYorker via C-Monster]

Newslinks for Monday, February 2, 2009

Monday, February 2nd, 2009


Ernst Ludwig Kirchner’s ‘Strazzenszene (Street Scene)’ via Artdaily


Claude Monet’s ‘Dans La Prairie’ via Daylife

Sotheby’s London to sell rare work by Expressionist Ernst Ludwig Kirchner tomorrow night [Artdaily]
and Monet’s ‘Dans la Prairie’ headlines Christie’s Auction of Impressionist and Modern Art, the night after
[Artdaily]
Jeff Koons honored at National Arts Club in New York
[NY Observer]
and more on the artist’s multimillion dollar townhouse acquisition woes
[NY Times]
An excerpt from Philip Hook’s upcoming book on how in the 50’s, Impressionist works became blue-chip investments through the auction frenzy of nouveau-riche
[Financial Times]


Glenn O’Brien for Adam Kimmel via The World’s Best Ever

Interview’s Glenn O’Brien models for Adam Kimmel’s Fall 2009 Collection along with Nate Lowman, Aaron Young, Dan Colen and other downtown art world denizens [The World’s Best Ever]
Jenny Holzer talks about her solo exhibition at MoCA, Chicago [Art21]
The legal ambiguities behind the copyright dispute regarding Richard Prince’s recent Canal Zone show
[Wall Street Journal]

The winning design of P.S. 1’s Young Architects Program via NY Times

P.S.1 announces the winning design of its Young Architects Program, described as an ‘afterparty’ of the market boom and bust [NY Times]
The BBC will put 200,000 of the UK’s publicly owned oil paintings online [GuardianUK]
The Economist provides a provenance background of the rare Lucio Fontana soon to be up for sale at Sotheby’s
[More Intelligent Life]
Damien Hirst is #13 on GQ’s list of Britain’s 100 most powerful men [Daily Mail]


New view of the planned Tate Modern Extension via Londonist

New renderings released of upcoming Tate Modern extension [Londonist]
Value of Warhol sales have gone down more than 50% in the past 18 months
[Artnet]
After the success of Jeff Koons, Versailles is set to exhibit the work of contemporary French artist Xavier Veilhan [Artforum]
Several London Old Master dealers consort to attempt to de-leverage art fairs in favor of a gallery week held in conjunction with Christie’s and Sotheby’s [The Art Newspaper]

Charles Saatchi and BBC Set to Launch Reality TV Show to Discover Next Generation of Artistic Talent

Tuesday, January 27th, 2009


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…)

“Artist Rooms” to take works by Warhol, Beuys, Koons, Richter, Viola, among others from the Anthony d’Offay collection on tour of the UK

Monday, January 26th, 2009


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

(more…)

Newslinks for Monday, January 5th, 2009

Monday, January 5th, 2009


Alanna Heiss via ArtNet

Alanna Heiss has retired after 37 years of curating MoMA’s PS1; an article on her final show [NYTimes]
$250,000 worth of prints including those by Pablo Picasso, Henri Matisse stolen in Berlin
[AssociatedPress]
A chronicle of the rise of auction prices before the fall, and a rumor that 2/3 of the bidders for Hirst’s monumental September auction may not actually pay for the works,
and part 2 here [Bloomberg]
A video of  Eric Fischl at Mary Boone
[Newarttv]


Egon Schiele’s Portrait of Wally via the ArtNewspaper

US lawsuit filed to confiscate Egon Schiele’s Portrait of Wally from the Leopold Museum in Vienna is suspended [ArtNewspaper]
Art dealers as paparazzi fodder?  White Cube owner Jay Jopling garners attention with singer Lily Allen in St. Barths [TheMirror]
also on the island, dealer Larry Gagosian and the band Kings of Leon fete collectors Roman Abramovich, Dasha Zhukova and Aby Rosen, designer Marc Jacobs, hip hop mogul Russell Simmons, musician Jon Bon Jovi and actor Daniel Craig among others
[IndependentUK]
In other art world vacation news, Damien Hirst hires 4 guards formerly in the British Special Forces to protect him during his Mexico holidays
[MercoPress]


The Chanel Mobile Art Pavilion via architecturelist

The Zaha Hadid-designed Chanel Mobile Art tour is stopped; London, Moscow, and Paris canceled [ArtInfo]
Emmanuel Perrotin on three current Parisian exhibitions [The Moment – NYTimes]
MoMA to launch two-year series of live performance works
[NYMag]
Collector Ronald Lauder interviewed at his Klimt-rich Neue Galerie in New York
[Financial Times]
Damien Hirst bans a documentary film of his Statuephilia work
[TelegraphUK]
The Velvet Underground’s John Cale will represent Wales at Venice Biennale of Art next year
[BBC]
The controversial act of State museums deaccessioning works [NYTimes]
The Getty endowment has declined 25%
[LATimes]
Art Info’s Top 5 art world figures of 2008
[ArtInfo]

Demand for Damien Hirst’s artwork may be weak and could be seen to worsen further in 2009

Wednesday, December 24th, 2008


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]

Newslinks for Monday, December 22nd, 2008

Monday, December 22nd, 2008


The Museo Universitario de Arte Contemporáneo in Mexico City via panoramio.com

Mexico City opens a new 3,300 sq. m, $20 million contemporary art museum [TheArtNewspaper]
Sculptor Richard Serra awarded the Order of Arts and Letters of Spain
[ArtDaily]
A Sotheby’s video offers refreshing transparency into its process in the current environment [Sotheby’s]
In more video, Takashi Murakami on money and art, New York vs. Tokyo and more [TMagazine – The Moment]
And finally, video of Damien Hirst on his Statuephilia installation in London
[Aarting]

Tom Sachs opens his online store [tomsachs.org via supertouch]
Gallerist/web presence Edward Winkleman announces his book ‘How to Start and Run a Commercial Art Gallery’ [edwardwinkleman]
The Louvre finds 3 possible Leonardo Da Vinci drawings on the back of his painting [Bloomberg]


Gallerist Mellissa Bent, artist Hope Atherton and artist Georgia Sagri make the scene at Rivington Arms via ArtForum

On the closing of Lower East Side Gallery Rivington Arms [ArtForum] more on this here [NYObserver]
Similarly, the International Asian Art Fair is canceled
[ArtInfo] Galerie Emmanuel Perrotin Miami, opened in 2005, will also close [ArtLurker]


The installation entitled ‘Moscow on the Move’ via the Guardian

Dasha Zhukova and the Moscow Garage organize a 17-artist public video installation which includes work by Doug Aitken, Fischli and Weiss and Pippilotti Rist [GuardianUK]

Newslinks for Tuesday, December 16th, 2008

Tuesday, December 16th, 2008


Caravaggio’s ‘Kiss of Judas’  or the ‘Taking of Christ’ via ArtDaily

Caravaggio’s ‘Kiss of Judas’ aka ‘Taking of Christ’, stolen from Odessa, is recovered; theft previously reported by AO in July here [ArtDaily]
The Moment interviews the Vogels, a New York couple who built a formidable contemporary art collection on a postman’s and librarian’s salary
[NYTimes the Moment]
The New Yorker’s 10 best art exhibits of 2008 [NewYorker]


Reactive moments from Julian Schnabel on 60 Minutes
[CBS]


The collage in question via the Independent

Damien Hirst cites 16 year old artist for copyright infringement regarding £65 collage works bearing Hirst’s imagery [IndependentUK]
Lehman Brothers to sell $8M collection
[GuardianUK]


The Raft of the Medusa via rhett.biz

A new novel is based on Gericault’s painting, The Raft of the Medusa [holartbooks via C-Monster]
Italian curator Francesco Bonami will curate the 2010 Whitney Biennial
[NYMag]

AO On Site: Glass-Half Full @ Miami Art Basel Vernissage Wednesday, Dec 2nd, 2008

Friday, December 5th, 2008


Grayson Perry; Entrance To The Forest; 2002; Victoria Miro Gallery; London -Photos by ArtObserved

“The surprise is the business we are doing. Frankly, people are expressing more confidence in the art market than the government or Wall Street right now,” said Sean Kelly of Sean Kelly Gallery. The night of December 2nd, Vernissage attendees glittered and Piper Heidsieck champagne flowed.  More importantly, buyers were in attendance, asking questions and indeed, according to most of the galleries interviewed for this article, buying.  On Thursday afternoon, Douglas Baxter, President of Pace Wildenstein professed “We’ve met expectations.” Also on Thursday, when asked his feelings on sales from the night before, a representative at Cheim & Read insisted his artists have been selling well, pointing to Jack Pierson sculpture and a pile of William Eggleston’s photos.  Margherita Belaief of Peres Projects had the same confidence, “It’s hard to say so early but in general, Dash Snow’s pieces are selling strong.”  While hesitant to disclose precise numbers, the overall sentiment of the top galleries was optimistic.

However, it’s important to note while the larger known artists have been selling strong, some galleries have reported some difficulty selling lesser known artist pieces.  Alfons Klosterfelde at Klosterfelde was most direct: “People are asking more questions and really want to know the details,” but he said pointedly as of Thursday, “there have been less sales” and Klosterfelde remarked the pieces sold were from the gallery’s more known artists.

Photos and Writing by Faith-Ann Young

more pictures and story after the jump…

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Mark Leckey wins UK’s 2008 Turner Prize

Tuesday, December 2nd, 2008


Mark Leckey receiving the Turner Prize, via the Guardian

The only male among the four artists selected as nominees for this year’s Turner Prize emerged as the winner of what is widely considered Britain’s most important contemporary arts competition, held at the Tate Britain museum for the last 24 years. Mark Leckey’s Cinema in the Round clinched the Turner Prize, joining the ranks of Damien Hirst, Chris Ofili, Tracey Emin, Grayson Perry, Rachel Whiteread,  the Chapman Brothers, Tomma Abts, Steve McQueen, among many other now prominent artists.  The Turner Prize is awarded to the best artist under 50 by a jury which changes every year.  Leckey’s works included films that examined the role of movies and other media in the daily lives of viewers, and how they see themselves.  Cinema in the Round examined this theme in depth, referencing external cultural imagery drawn from such as sources as Felix the Cat, Homer Simpson, Titanic the movie and Philip Guston.  Leckey beat out fellow artists Runa Islam, Cathy Wilkes, and Goshka Macuga for the £25,000 prize, which was presented by musician Nick Cave.  The other competitors took home £5,000 as consolation prize.

Official Site: Turner Prize 2008
Video: ‘I want a TV show,’ Interview with Mark Leckey [Guardian]
Photos: Turner prize 2008: Happy go Leckey [Guardian]
Modest art: out goes the controversy as magpie of the artworld steals the show [Guardian]
‘Felix the Cat’ Artist Mark Leckey Wins Turner Prize [Bloomberg]
Mark Leckey Wins Prestigious 2008 Turner Prize – World’s Top Contemporary Art Award [ArtDaily]

more pictures after the jump…

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Newslinks for Sunday, November 30th, 2008

Sunday, November 30th, 2008


A beach towel by Ed Ruscha via the Art Production Fund

Just in time for Art Basel Miami Beach, new beach towels by Ed Ruscha, Karen Kilimnik, Raymond Pettibon and Julian Schnabel are ready, catch them at the Raleigh Hotel [Art Production Fund]
A Page Six roundup of some of the Art Basel Miami Beach parties, as usual, the Raleigh hotel is front and center [NYPost]


“Paysage, le mur rose” (Landscape, the Pink Wall) by Henri Matisse via Artsjournal

France gives back Henri Matisse painting, once seized by Nazi SS officer, proceeds from sale to go to British charity for medical rescue in Israel [Artsjournal] more here [AP]


Museum of Islamic Art, Doha, Qatar via The New York Times

Qatar opens the 41,000 square foot, IM Pei designed Museum of Islamic Art in Doha; Robert de Niro, Damien Hirst, Jeff Koons and London dealer Jay Jopling attend festivities [NewYork Times]


Portrait of a lady as Flora , by Italian master Giambattista Tiepolo

A lost painting by Giambattista Tiepolo, discovered in a chateau attic, may sell for £1m at Christie’s sale in London next week [FinancialTimes]
City of San Francisco not accepting $1 billion gift to build space to show Gap Inc. founder Don Fisher’s 1,000 work strong collection due to aesthetics of architecture
[Bloomberg]
A review of Calvin Tomkins’s ‘Lives of the Artists’ which profiles headliners such as Hirst, Cindy Sherman, Schnabel, Serra, Koons, Currin and others
[NYObserver)


Portrait Ria Munk III – by Gustav Klimt via Linz Presse

Lentos Museum in Austria may have to give a $10 million Gustav Klimt painting to heirs of Holocaust victim [Bloomberg]


The artist Steve McQueen via GuardianUK

Turner prize winning video artist Steve McQueen interviewed, and more, on his new film, ‘Hunger’ [GuardianUK]

Newslinks for Thanksgiving Day, Thursday, November 27th, 2008

Thursday, November 27th, 2008

Stamford After Brunch, John Currin, 2000

After John Currin’s recent success, against the market, at the November auctions (as covered by AO here), an analysis of his work complete with slideshow [Slate via Artmarketmonitor]
NightTalk has an interview with gallerist Mary Boone [Clipsyndicate]
Some NYC galleries are expanding in a downturn [ArtInfo]

Murakami's Kaikai Kiki "High and Lo" sneakers

Murakami’s Kakai Kiki creates a signature sneaker [TheMoment]
Undeniably influential through his iconic images during the Obama campaign, street art legend Shepard Fairey named a GQ man of the year [Supertouch]
Damien Hirst soon to open his bed and breakfast in Devon, UK [FirstPost]
Tracey Emin states that despite the seeming art-recession, she is “pretty credit-crunch proof”
[TelegraphUK]
With prices lower at auction, MoMA acquires
[NYTimes]

Work by Anish Kapoor, Tracey Emin, Olafur Eliasson, among others sold at RCA Secret Annual Postcard Sale

Wednesday, November 26th, 2008


Amy Winehouse by unknown artist, on RCA Secret postcard, via BBC

2,700 postcards composed by a combination of famous and emerging artists were sold at the Royal College of the Arts’ Secret postcard event this past Saturday, November 22nd, in London.  Every year, students from the college contribute original pieces of art on postcards, along with many of the worlds top artists and assorted other notables, to raise funds for the school. The RCA has managed to raise close to £1 million from the sale of the postcards since 1994, when a student came up with the idea.

Cards sell for £40 each, and are unmarked and unsigned; the viewer or buyer does not know who created it, leading to the possibility of acquiring works by the likes of Damien Hirst, Peter Doig, or Manolo Blahnik very inexpensively.  Postcards have been resold for princely sums at major auction houses. A card by Hirst was sold for £15,600 in 2004, while a Doig original sold for £42,000 in 2000.  “Keeping the works anonymous is a very clever idea because potential buyers have to use their own powers of discrimination,” noted artist and regular contributor Grayson Perry said. “They must look at art works closely rather than read labels, a habit they might find rewarding at any exhibition.”

While readers have missed out on this year’s sale, which was held on November 13th, they can always look forward to 2009.

Exhibition page: RCA Secret
Secret art postcards go on sale [BBC]
Lucky dip in secret postcard sale [GuardianUK]
In London, Purchase a Postcard Worth 42,000 British Pounds [IHT]

(more…)

Art Dealer Emmanuel Perrotin to Start a Fund to Help Finance Artists’ More Expensive Pieces

Monday, November 24th, 2008


Emmanuel Perrotin, Gallerist and Founder, Artists’ Dreams, via ParisArt

Emmanuel Perrotin, owner of the Paris and Miami based Galerie Emmanuel Perrotin, has announced the formation of Artists’ Dreams, a vehicle which will allow investors to finance expensive pieces by leading artists. Perrotin has syndicated investments in several artistic pieces, reaching out to his wide network in the collecting community to fund works such as Piotr Uklanski’s Untitled (Floor Dance) piece, which was exhibited at the Guggenheim in 2007.

As competition intensifies among artists, this new venture tries to fill a gap by allowing emerging artists to compete more effectively with brand name artists such as Damien Hirst and Jeff Koons, who often use very expensive materials and processes in their productions. Works financed through Artists’ Dreams will be sold exclusively through Perrotin’s two galleries, and investors will see returns on their investments out of the dealer’s cut once the work is sold. Perrotin has raised €2 million, and is also planning similar vehicles in conjunction with museums and other dealers, under similar terms. Perrotin has been building on his success recently, having regained the right to represent Damien Hirst as his client, and presenting two shows curated by Pharrell Williams (of N.E.R.D and The Neptunes) at his Miami and Paris galleries, as covered by ArtObserved (see below).

Galerie Emmanuel Perrotin
Dealer sets up company to fund artists’ production [The Art Newspaper]
Damien Hirst to reinstate representation with Parisian gallerist Emmanuel Perrotin [ArtObserved]
Go See: Pharrell Williams, ‘Perspective,’ Galerie Emmanuel Perrotin, Paris thourgh January 10th, 2009 [ArtObserved]

Newslinks for Sunday, November 23rd, 2008

Sunday, November 23rd, 2008

Javier Peres via the NYObserver

New York and Berlin gallerist Javier Peres, much a part of the success of Dan Colen, Assume Vivid Astro Focus, and Terrence Koh, opines on the “new, new school’ and the ways of the market [NYObserver]
The “serene mastery” of Italian painter Giorgio Morandi
[WallStreetJournal] now at showing at the Met [ArtObserved]
In art market layoffs: Damien Hirst cuts up to 17 of the 22 in his studio [GuardianUK] and Pace Wildenstein cuts as well [Blackbook]

Antony Gormley's Angel of the North on Antiques Roadshow via BBC

The highest priced “antique” on UK’s Antiques Roadshow is a £1m model of Antony Gormley’s Angel of the North [GuardianUK] more here [BBC]
The Museum of Modern Art is armed with a Twitter account
[ArtFagCity]
On the heels of his recent no-sale at Phillips,
[Art Observed] Damien Hirst is sanguine on the art market: “What goes up must come down” [ArtInfo]
Over 1/2 of the best selling artists of last year were Asian
[Independent]
Global art dealer Jan Krugier dies at the age of 80
[ArtForum]

AO Auction Roundup 5 of 5 – November Auction Summary: the reality of an indisputable buyer’s market

Wednesday, November 19th, 2008


“Study for self portrait” (1964) by Francis Bacon was valued at $40 million but was a no sale at Christie’s last Wednesday, via Artnet

The New York Times called it: “easily the worst two weeks of high-end Impressionist, modern and contemporary art auctions in more than a decade” and though gravity of this statement belies some successful sales in the November auctions, in the end there seems to be little question that the art auction landscape has shifted to become a buyer’s market.

The November auctions from Sotheby’s, Christie’s and Phillips lasted roughly two weeks with approximately a 2/3 sell rate and 143 of the 399 offerings failing to sell. The sales would total under $1 billion, well below their combined minimum estimate for the sales of $1.7 billion. Sotheby’s and Christie’s brought in roughly $728.9 million for the Impressionist, modern and contemporary art primary sales which is down $1.6 billion from November, 2007 and $1.3 billion from November, 2006.

The summary points seem to be, in part, that there were some indisputable failures of the unsold works such as Roy Lichtenstein’s Half Face With Collar, seen below, from Sotheby’s Tuesday evening auction (estimated at $15 million to $20 million) and the Bacon self-portrait, seen above, at Christie’s on Wednesday (estimated at $40 million). The Bacon failing to sell was for many a symbol of the current market situation in that it stood in sharp contrast to the Sotheby’s May sale of the Francis Bacon triptych for $86.2 million to Russian Billionaire Roman Abramovich (when it thus became the most expensive contemporary artwork sold at auction).

However, there were still some records and strong showings with works such as the Malevich, seen below, at $60 million (at estimate), which was a record for a Russian painting, and Munch’s Love and Pain aka “Vampire,” seen below, for $38.1 million above its $30 million estimate (both on Monday the 3rd at Sotheby’s) and a Juan Gris, seen below, at an artist record of $20.8 million, also above its estimate of $12 million to $18 million, at Christie’s auction on Thursday the 6th. Nonetheless, most works sold in the low range, or below estimate, or not at all with works by artists that show up infrequently performing generally better and works that show up more often at auctions, such as the Warhols and Hirsts, faring poorly.

Also of note in summarizing the November auctions was the Monday the 3rd Sotheby’s success of the big name financiers Henry Kravis of KKR who sold Edgar Degas’s “Dancer in Repose” for $33 million and former Lehman Brothers CEO Dick Fuld selling 16 Modern and Impressionist drawings for $13.5 million against estimates of $15 million to $20 million, but clearing a reported $20 million guarantee nonetheless from the house.

All this leads to the final recurring news point of the auctions: the painful result of over-market guarantees by the major houses. The applicable guarantees were set in pre-bust summer headier times, but when in place during the November sales they would cost the auction companies losses in the many tens of millions. In two weeks of sales the auction houses guaranteed 80 artworks worth $405.8 million but sold only 60, for a combined total of $342.3 million and an estimated loss of $63.6 million (according to the Wall Street Journal’s calculations). Sotheby’s publicly reported that guarantees were responsible for a $28.2 million loss at its contemporary art auctions last week which adds up to total losses from Sotheby’s from guarantees of roughly $52 million this fall. Bill Ruprecht of Sotheby’s said of the guarantee drubbing: “We’re preparing for a different market. We are out of the guarantee business at least for a while.”

Sotheby’s Says It Lost $10.6 Million More From Art Guarantees [Bloomberg]
In Faltering Economy, Auction Houses Crash Back to Earth [NYTimes]
Making Sales Look Stronger [Wall Street Journal]
Call This One ‘Crisis With a Pipe’ [Wall Street Journal]
Art boom over as auctions fail to bring home Bacon [TimesUK]
Art makes loss but Fuld is still an old master
[TimesUK]
Art sales: The week that brought the boom to an end
[GuardianUK]
Unsuccessful Auctions OK With Shafrazi [NY Mag]

Previously by ArtObserved:
AO November Auction Roundup 4 of 5: Phillips de Pury’s Contemporary Art Sale, New York, Thursday, November 13th, Results “brutal” but Phillip’s clear due to lack of Guarantees

AO November Auction Roundup 3 of 5: Christie’s Post-War and Contemporary Art, New York, Wednesday, November 12th: Basquiat’s “Boxer” sells while the Bacon does not, “The market is adjusting down”

AO November Auction Roundup 2 of 5 (AO On-Site): Sotheby’s Contemporary Art Evening Sale, New York, Tuesday, November 11th: Sotheby’s crushed by guarantees, Eli Broad: “It’s a half-price sale”

AO November Auction Roundup 1 of 5: Christie’s Impressionist and Modern Art, New York, Thursday November 6th: “Obviously, prices have changed”

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

AO Auction Results: Sotheby’s New York Impressionist and Modern Art, despite select notable sales, overall results were poor

more images after the jump…

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AO November Auction Roundup 4 of 5: Phillips de Pury’s Contemporary Art Sale, New York, Thursday, November 13th, Results “brutal” but Phillip’s clear due to lack of Guarantees

Monday, November 17th, 2008


“Untitled (77/23 — Bernstein)” (1977) by Donald Judd sold for $3,218,500 against an estimate of $4.0 million, via ArtInfo

PHILLIPS DE PURY’S CONTEMPORARY ART SALE, New York, Thursday, November 13th

Total Lots Offered: 51, originally 56
Total Lots Sold: 30
Total Sales Value: $9.6 Million
Total Sales Pre-Auction Estimate: $23-$32 Million

Before Phillips de Pury’s Contemporary Art sale began in New York on Thursday evening November 13th, five works were withdrawn, including John Currin’s Standing Nude from 1993 (est. $500–700,000), pictured below, Richard Prince’s Untitled (Tire Planter) from 1999 (est. $120–180,000), and an Anselm Kiefer work. Total sales were $9,608,700, which was less than half of the low estimate of $23 million. By way of comparison, a comparable Phillips sale a year ago fetched $42.3 million. In the end, 41% of the lots (21 lots) were unsold (51% unsold by value) and those that did sell did so at below estimates. Anything estimated to sell at more than $1 million was either withdrawn or went unsold. In attendance were collectors such as Adam Lindemann, Stavros Merjos, Stefan Edlis of Chicago, Maria Baibakova, Mera and Don Rubell, Zurich dealer Doris Ammann, and executives from the Russian luxury goods giant Mercury Group which, as covered by Art Observed here, recently purchased the Phillips de Pury auction house.

Despite the dismal outcome of the totals, Phillips de Pury’s in the end appeared prescient versus its competitors Sotheby’s and Christie’s who both got crushed by over guaranteeing works in a down market, by contrast, Phillips guaranteed none of the 51 works offered, save for a single neon text 2005 sculpture by Kendell Geers, which had a low estimate of $60,000 and sold for $56,250. In a comparable sale last November, Phillips guaranteed about half the lots.

$9.6 Million at Phillips De Pury [ArtNet]
Phillips Sale Totals Less Than Half the Low Estimate [New YorkTimes]
Phillips Goes with the Downward Flow [ArtInfo]
Hirst Painting Flops at ‘Brutal’ New York Art Auction [Bloomberg]

more story and pictures after the jump…

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Damien Hirst and Levi’s release Jeans collection featuring original artwork

Wednesday, November 12th, 2008


T-shirt and pair of jeans featuring original artwork by Damien Hirst, via BlackBook

Damien Hirst has teamed up with Levi’s to produce ‘Damien Hirst x Levi’s x Warhol Factory Collection,’ a series of limited edition jeans, t-shirts and denim jackets. The collection features over 12 pieces featuring motifs and aesthetics found in Hirst’s art: tropical butterflies, skulls, and an array of spin-painted colors. Buyers can expect to find the collection at a select group of Levi’s stores in major global cities as well as fashion boutiques. T-shirts start at $83, while jeans will retail at $230. There is also a series of spin painted jeans in Levi’s signature 501 style, which will only be available via silent auction in key cities in Asia, Europe and North America–for price tags in the range of $23,000.

Art Star Damien Hirst Creates New Levi’s Jeans [Women’s Wear Daily]
Damien Hirst x Levi’s x Warhol Factory [Denimology]
Introducing $23,000 Denim, Courtesy of Damien Hirst [BlackBook]

Newslinks for Tuesday, November 11th, 2008

Tuesday, November 11th, 2008

Richard Serra via Time

The Economist is long on Richard Serra: “slow-burning Mr Serra will be one of the artists whose work will continue to shine long after he is gone” [TheEconomist]
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The defensive financial strategies art auction houses take during a market downturn
[The Art Newspaper] and in related, financing for fine art is correspondingly receding [Portfolio]
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A look inside the highly specialized art storage business [Financial Times]
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The Tate Modern may have accidentally hung 2 Rothko’s sideways [TimesUK]

The Pollock in question via terisfind.com

Highly controversial supposed Jackson Pollock drip painting is for sale for $50 million in Toronto [CBC]
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London’s Colony Room, favored bar of Lucian Freud and Damien Hirst, may close [TimesUK]
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50 to 75 Modern and Contemporary German works of art including some by Rosemarie Trockel, Georg Baselitz and Candida Höfer donated to the Busch-Reisinger Museum at Harvard [Artdaily]
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Yvonne Force Villareal, sets up an APFlab (“Art Production Fund”) on Wooster street in Soho, New York [NYTimes]

The Bacchae: The Library Theatre, Manchester and on tour

The Independent (London, England) February 21, 1996 | JEFFREY WAINWRIGHT Euripides’ The Bacchae is strong meat, literally. Its dominant image is of dismemberment, animal and then human flesh seized alive and devoured in the furthest reach of frenzy available to human kind.

Now The Library is a nice place, a cosy cup of a theatre, designed less for Bacchanalia than for Spring and Port Wine. Other venues on Kaboodle’s itinerary may suit Euripides better, but interesting as it is to contemplate the startlingly different contexts of ancient Greek and modern theatre, the production does not resolve this fundamental incongruity. For this, the less traditional the performance space the better.

But for all the rawness at its heart, The Bacchae is in no sense a “primitive” play. It is the story of the coming of the disreputable but potent Dionysus to Thebes, determined to prove his lineage as a son of Zeus and claim the honour due to a god. Though despised as a foreigner by the Theban king, Pentheus, Dionysus has captivated the women of Thebes, who, led by Pentheus’ own mother Agave, are now the Bacchae, living in liquid abandon beyond the city walls. Dionysus, himself ambiguously gendered, is lord and liberator of women, and the rapture he engenders transports them from their appointed place into ecstasy. The play’s main conflict is therefore between this liberation and the pursed rectitude of Pentheus.

It appears to be a clash of immutable elements, but Euripides’ psychological subtlety lies in the way Dionysus is able to evoke a prurient interest in the activities of the women in his enemy, and so seduce him from his fixed masculinity. Discovered in his spying, Pentheus is sundered by the Bacchae, his own mother claiming his head as a trophy. The second psychological switch is Agave’s rediscovery of her former mind as the frenzy abates and the contrary face of the Dionysian rapture becomes apparent. go to web site facial hair styles

Happily, the complexity that surrounds Pentheus is presented with nuanced care by Lee Beagley. Softly spoken, he has no crude, tyrannical bluster about him, and he is drawn into his fatal female garments in a gentle swirl of reluctance and surprised pleasure. Kaboodle’s other long-time actor, Paula Simms, takes two of the vitally important “messenger” roles, and her narration, especially the first account of the Bacchae at large, is clearly and characterfully done. This scene also provides the best visual moment, in which the company create a huge beast from a cow’s skull and a vast red curtain, then hunt it down.

Otherwise, Lee Beagley’s staging and Bruce Gallup’s design are disappointing by Kaboodle’s previous standards. The eclecticism of the costumes is unfocused, and a cumbersome piece of revolving stage machinery resembling a sawn- off caboose clutters the action. Eugene Salleh makes a puckish Taras Bulba of Dionysus, but his voice is not sufficiently commanding. Despite the ritual elements, these plays require a tremendous amount of simple, informative speaking, and, Beagley and Simms apart, this is woefully underpowered here. The result is that this great and disturbing play is not nearly disturbing enough.

n On tour to Marlborough, Birmingham, Kendal and Leicester this month, then throughout F} {DD} 21:02:96 {XX} Arts {PP} 8 {HH} Music: Music from the Yellow Shark, Frank Zappa / Ensemble Modern Royal Festival Hall, London {BB} Phil Johnson {TT} The late Frank was sadly unable to appear for this ultimate valediction of his role as a serious composer, but if he had, he would, you think, have taken comfort in the extent to which his facial hair-styles seemed to live on in many members of the audience. The yellow shark of the title lay pinned up behind the stage like a scruffy talisman and an air of expectation lay over the whole of the first, non-Zappa, half of the performance. web site facial hair styles

Opening with three studies by Conlon Nancarrow, the Ensemble demonstrated immediately their masterly grasp of difficult repertoire, the two pianos chattering away as if in binary code while the percussion sectionswapped roles in a see-saw of rhythmic accents, like chopsticks rattling on a plate. Study No 6 was achingly beautiful, the strains of a Mexican lullaby somehow emerging through the convulsive pitter-patter. Varese’s Deserts followed, accompanied by a film by the video artist Bill Viola of underwater point-of-view shots, barren landscapes and, eventually, an interior scene in which a man moved slowly across a room. Meanwhile, the music – part live orchestra, part taped industrial sounds – reached a series of crescendos, matched at the end by a magnificent coup de film, when the man and his furniture were dashed to smithereens. It was difficult, it was pretentious, but it was also very well done, and it matched the accumulating tension and ecstatic release of the music marvellously. So how would Frank live up to that?

Brilliantly, of course. First assembled for a performance at the 1992 Frankfurt Festival, which was partly conducted by the composer, the music is a compendium of Zappa themes that he got up to speed on his trusty synclavier and then printed out as music for the orchestra to learn, the title emerging only as an afterthought. Beginning with a cheesy Star Wars-ish introduction, the Ensemble’s programme mixed and matched movements from the original performance (available almost complete on the excellent Rykodisc album). Echoes of Boulez and Henze, at times rather too plinkety- plonk for comfort, were evident, but much of the music was quite superb, and the closing “G-Spot Tornado” was a tour de force of sustained action and invention. Only in “Bebop Tango,” was there any real Mothers of Invention monkey-business (when the orchestra talked among themselves, loudly) and the concert ended in total adulation. The encore, though, was a bit of a disappointment; hoping maybe for “Peaches En Regalia”, what we got was the Star Wars intro again. But the Zappa-philes went home happy, as they knew they would.

JEFFREY WAINWRIGHT

Newslinks for Saturday November 8, 2008

Saturday, November 8th, 2008

Anish Kapoor - Cloud Gate via heartland.vanabbe.nl

A London studio visit interview with Anish Kapoor [GuardianUK]
Richard Prince, who opened at Gagosian Chelsea tonight, interviewed on VBS.TV [VBSTV]
Three public art projects from Jeff Koons, Daniel Arsham, and John Henry will be at Art Basel Miami Beach [Artdaily]
All about Maia Norman, Damien Hirst’s companion [TimesUK]
How the current times can offer art bargains [Bloomberg]
The Asian Contemporary Art Fair, on in New York from Thursday to this Monday the 10th at Pier 92, 52nd Street & 12th Avenue [Official Site]
Two portraits authenticated as Van Goghs from 1886 Paris [cbcnews]
Former MET Director Philippe de Montebello and Paula Zahn to host 13’s SundayArts [ArtDaily]
Murakami ‘Wraps’ Louis Vuitton corner on 5th and 57th in Manhattan [WWD via Kempt]

Damien Hirst to reinstate representation with Parisian gallerist Emmanuel Perrotin

Saturday, November 8th, 2008


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Damien Hirst’s first exhibition with Emmanuel Perrotin Gallery in 1991 via Perrotin Gallery

Damien Hirst has surprised the art world again by announcing that he will reignite his relationship with Parisian gallerist, Emmanuel Perrotin, who in 1991, was one of the first two dealers to exhibit the artist. Perrotin considers Hirst to be an old friend and claims to be the only dealer to never profit from Hirst’s stardom. It is too early to tell, but it is suggested that a solo exhibition will be scheduled for 2010, but neither Hirst nor Perrotin have indicated if this is the beginning of a longer lasting artist-dealer relationship. Perrotin and Hirst’s partnership comes after Hirst’s infamous Sotheby’s auction, “Beautiful Inside My Head Forever,” previously covered by AO here in which noted art critic Robert Hughes accused Hirst of cutting dealers out of the action. “Everyone has written that Hirst wanted to bite the hand that fed him,” says Perrotin. “But there’s a difference between asserting independence and turning your back on dealers.” Whether Hirst is playing a well-calculated ironic card out of his ever-evolving deck or simply scratching the back that once scratched his own is still to be seen.

Hirst adds Perrotin to his dealer roster [ArtNewspaper]
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Pandora: Hirst goes back to his roots with Paris show [IndependentUK]
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Gallerie Perrotin [Gallerie Perrotin]
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Newslinks for Monday, November 3rd, 2008

Monday, November 3rd, 2008


The Grand Palais in Paris, the Site of the 2008 FIAC art fair

Seen as selling more established contemporary artists, the 158-gallery strong FIAC art fair, back to Central Paris since 2006, was by consensus more successful than Frieze this year [Artreview] more here [TheArtNewspaper] here [Bloomberg] and here [Financial Times]
Jeff Koons’s Versailles installation of 17 works drew over 250,000 people and has been extended to January [Associated Free Press]
Tel Aviv as a contemporary art destination [NYTimes]
Jake Chapman on his new book: The Marriage of Reason & Squalor [ArtForum]
Olafur Eliasson’s Waterfalls exhibit brought 1.4 million visitors and $69 million to New York City [Crain’sNewYork]
Damien Hirst co-directs a bloody Sienna Miller in music video for The Hours [TheSun]
Steve Lazarides, agent to Banksy, is working on New York space following the success of the The Outsiders show on the Bowery in September [The Evening Standard via TWBE]

Newslinks for Thursday, October 30th, 2008

Thursday, October 30th, 2008


Banksy’s controversial One Nation Under CCTV via hutley.net

Banksy issues a statement on London City removal of his CCTV work
[Time via TWBE] and a video of Banksy’s pet store/charcoal grill in NYC [Wooster Collective]
At the Whitney: Leonard Lauder, Cindy Sherman, Mary Boone, Donatella Versace, Christina Ricci, Sting and assorted socialites show up for the Gala and Studio Party [ArtInfo]
Art and Commerce: Julian Schnabel, sponsored by Mastercard, completes portrait of sweepstakes winner [Tradingmarkets]
A quiet but strong video of Jenny Holzer at the Guggenheim, New York [Vernissage.tv]
Takashi Murakami, a bit hurt perhaps from the his Phillips Frieze auction, comments on the art market: “Everyone is very nervous. Everything is negative” [NYMag]
And in the latest in Damien Hirst: the Guardian quotes his art market comments from four years ago: “they would sell your granny to Nigerian sex slave traders for 50 pence and a packet of woodbines” [GuardianUK] his cover art for British band The Hours [Brand Republic] and Sarah Thornton has a thorough summary of Hirst and some of his series: “he faces all the problems of an aging rock star” [TheArtNewspaper]