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”

Sunday, November 16th, 2008

John Currin's Nice 'n easy, 1999, an Oil On Canvas, Sold for $5,458,500, (Estimate:$3,500,000-$4,500,000)

Sotheby’s Contemporary Art Evening Sale, New York, Tuesday, November 11th
Total Lots Offered: 63
Total Lots Sold: 43 (68.2%)
Total Sales Value: $125.1 million
Total Sales Pre-Auction Estimate: $202.4 million

On the heels of its Impressionist and Modern Art sale that brought in $223 million, well below its low estimate of $339 million, with only 45 of 70 lots sold as previously covered by Art Observed here, Sotheby’s Contemporary Art Evening Sale in New York, held on Tuesday, November 11th, brought in $125 million against a $202 million estimate. The sale was 68.2% sold by lot, with 43 of 63 works finding buyers, marking the lowest selling rate for a multiple-owner evening sale of contemporary art held at Sotheby’s since November 1994. A third of the lots failed to sell, and most of the works that did sell went for less than their presale low estimate. The top lot of the sale was Yves Klein’s Archisponge (RE 11), seen below, which brought $21,362,500. Artist records were set tonight for Philip Guston Beggar’s Joys, which achieved $10,162,500; John Currin, Nice ‘N Easy (see above), which realized $5,458,500 (see above) and Richard Serra, 12-4-8, which fetched $1,650,000.

A Dreary Night for Contemporary Art at Sotheby’s [NYTimes]
Sotheby’s Contemporary Art Sale defies worst fears
[Reuters]
Sotheby’s New York Evening Sale of Contemporary Art Brings $125,131,500
[ArtDaily]
$125 million at Sotheby’s Contemporary [ArtNet]
The art market: Contemporary art gets hammered [FinancialTimes]
Bare Market [ArtForum]
Eli Broad Goes Shopping as Sotheby’s Art Auction Falls Short [Bloomberg]
Currin Nudes Set $5.46 Million Record at Spotty Sotheby’s Sale [Bloomberg]

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Newslinks for Wednesday, October 15, 2008

Wednesday, October 15th, 2008


Damien Hirst via TheDailyMail

Science, Damien Hirst’s corporation, tops the ArtReview power 100, Gagosian follows, and MoMA’s Kathy Halbreich is first woman to make the top 10 [ArtInfo]
Designer Yohji Yamamoto uses museum curators in New York, Paris, London and Antwerp as models in latest campaign [TheMoment]
PaperMag’s latest issue interviews artworld figures such as Terence Koh, Cecily Brown, Tauba Auerbach, Shepard Fairey and James Fuentes [PaperMag]
Sotheby’s secures $250 million loan from Bank of America while cutting auction guarantees [Bloomberg}
A Liechtenstein billionare is on his second attempt to build 23,000 sf Las Vegas Museum of Contemporary Art [ArtForum]
What happens to the corporate artwork of failed companies? [WallStreetJournal]
Jake Chapman interviewed on, for example, his ideal home: with six or seven of his enemies hanging from trees in front of it [GuardianUK]
Fashion designer Stella McCartney and Artist Ed Ruscha together on Iconoclasts [SundanceChannel]

Go See: Richard Serra 'Sculpture' at Gagosian Gallery London through December 20, 2008

Sunday, October 5th, 2008


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Artist Richard Serra poses for photographers beside one of his works entitled ‘Fernando Pessoa’ during the unveiling of his new exhibition at the Gagosian Gallery in London October 3, 2008 via Reuters

Richard Serra, widely regarded as the ‘greatest living sculpture’ has a two concurrent exhibitions at the Gagosian Galleries on Britannia Street and Davies Street in London. Simply titled, ‘Sculpture’, the Brittania Street exhibit displays three new large-scale steel installations and four smaller wall hanging pieces, while the Davies Street gallery houses new works on paper. This is the first time that Richard Serra has exhibited in London since Weight and Measure at Tate Gallery in 1992. The 70 year-old artist has not slowed down in the recent years with a critically acclaimed installation at the Grand Palais in Paris this summer, a “40 Years” retrospective at New York’s Museum of Modern Art in 2007, and the widely recognized “Matter of Time” installation at the Guggenheim Bilboa in 2005. The sculptures at the current Gagosian show weigh over 300 tons and will occupy the gallery space until December 20, 2008.

Interview with Richard Serra, Man of steel [GuardianUK]
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Serra Recalls 9/11, Shipyard as Steel Labyrinth Opens in London [Bloomberg]
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Richard Serra shows off his rings of steel [Economist]
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Serra brings giant steel sculptures to London [Reuters]
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Super slabs and steely nerves and Heavy metal: Richard Serra exhibition for London [GuardianUK]
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Richard Serra: Sculpture [Gagosian Gallery]

Previously:
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Go See: Richard Serra – Thinking on Your Feet [ArtObserved]

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Newslinks for Wednesday, September 24, as summer’s China-focused news comes to an end, Autumn news centers on Russia

Wednesday, September 24th, 2008


Daria “Dasha” Zhukova, via Guardian.

More on Roman Abramovich’s Dasha Zhukova, straight from Moscow onto the art scene, and more on her and the Moscow Garage here [Times Online] [Guardian] On Gagosian’s Moscow Chocolate factory, and more on Gagosian in Moscow here [Financial Times] [Art Info]
After the sale, perhaps the most insightful Hirst Sotheby’s auction and art market summary article we’ve found
[The Economist]
Christie’s sale in Zurich to auction significant Peter Fischli/David Weiss shown at Tate Modern in 2007 [Art Daily]
With Francis Bacon at the currently at the Tate, a video interview from 1985 [Small Drawings via C-Monster]

Newslinks for Monday, September 8th, 2008

Monday, September 8th, 2008


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Frank Dunphy Damien Hirst’s Manager via D2
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On Frank Dunphy the ‘Man behind Damien Hirst’
[Wall Street Journal]
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More Damien Hirst pre-sale press here, and more here [TimesUK] and still more here [TIME]
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Moscow’s largest collection of Russian art seeks a new building for Modern and Contemporary [Bloomberg]
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Japanese film ‘Achilles and the Tortoise’ satirizes the art world [ArtInfo]
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Sotheby’s sues buyer to collect commission [NYTimes]
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Larry Gagosian is number 38 the New Establishment Top 100 [Vanity Fair]
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and Harper’s Bazaar names Tracey Emin “Creative Person of the Year” [Telegraph]
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Consumers cop-on to the value of money-off coupons

The Irish Times March 15, 2010 | CONOR POPE MONEY-OFF COUPONS: A big deal in the US and UK, consumers here are increasingly collecting coupons COUPON CLIPPING is not the most glamorous way to pass your time. In fact, hanging on to fliers offering two-for-one deals, religiously cutting coupons out of newspapers and presenting crumpled fliers to restaurant staff might be penny-pinching steps too far for many people. Times are hard but are they really that hard?

While coupons are a big deal in the US, they’ve never really caught on here, with the notable exception of the noble butter voucher which most of us seemed to exchange for cigarettes in the 80s and 90s. But things may be changing. According to one survey from the National Consumer Agency, 30 per cent more people are using coupons than in 2008. When you consider the savings that can be made it’s not hard to see their allure. It’s never going to keep the wolves from the door for long but, if it’s not too much hassle, it’s free cash.

The Irish Independent Directory, which is delivered to 1.3 million homes across the country every year, has hundreds of euro worth of vouchers on everything from pizzas and burgers to taxis and tyres. Meanwhile, a judicious use of online coupon sites can handily knock [euro]20 off a weekly shopping bill.

While people may baulk at producing the crumpled vouchers they’ve found in directories, newspapers or online they are much more likely to use the vouchers earned from being a member of a supermarket loyalty scheme. The key thing about supermarket loyalty schemes is that you need to be as disloyal as you possibly can and sign up to the lot of them.

A clever use of loyalty schemes can make vouchers even more worthwhile than their face value would suggest. Under the Tesco scheme, for instance, a [euro]2.50 clubcard voucher will buy you a [euro]10 token for Milano’s restaurant or Apache Pizza. A [euro]4 voucher gets one adult into Dublin Zoo – admission is normally [euro]15. A [euro]10 voucher, meanwhile, can be handily converted into a [euro]40 voucher from Siblu, the camping specialists in France, effectively giving you a 5 per cent discount off a camping holiday in May or June. And [euro]17.50 worth of vouchers will get you a year’s subscription to Hot Press.

When it comes to supermarket schemes, whether with Tesco, Dunnes Stores, Superquinn or Supervalu, the key is to maximise the number of points you get by keeping an eye out for double point days and products which may attract extra points – as long as you’re going to actually use those products, don’t be suckered into buying something of dubious worth just because of the extra points. website free printable grocery coupons

It is also worth noting that if you sign up to a Tesco credit card, you can get extra points. So, for every [euro]2 you spend with your store credit card, you earn three clubcard points and, when you use the card outside of Tesco, you earn one point for every [euro]2 spent. If you spend [euro]200 on your weekly shop using a Tesco credit card you earn 300 points. While if you spend [euro]500 using the same card you earn 250 points – a total of 550 points.

Dunnes Stores also sends vouchers out to loyalty card members quarterly while Superquinn offers a reward card scheme which can be used in-store or exchanged for One4all vouchers. Supervalu’s Real Reward scheme gives you [euro]1 per point and, when you hit 400 points, you get 5 per cent off your next shop – although this offer is set to expire next month. Supervalu points are also redeemable against get-away breaks.

It is not just the supermarkets which entice shoppers with discount coupons. Boots Advantage Card allows people to redeem points gained on purchases and the store also pushes substantial vouchers for its No. 7 range of products on shoppers who spend over a certain amount, usually around [euro]25. freeprintablegrocerycouponsnow.com free printable grocery coupons

For its part, Brown Thomas has an uber-chic Black Card although it is keen to stress it is nothing as gauche as a loyalty card and, while it does offer discounts based on points accrued, it prefers to stress the benefits for card-holding members of the invites to events where they can get discounted deals (or spend more cash, depending on how you look at it).

AT THE OTHER END OF THE retailing experience – at least when it comes to price – is Ikea, and we thought the store couldn’t get any cheaper. It has a card which offers 25 per cent discounts on its Family range, as well as discounts up to the same amount on other products dotted throughout the store.

It has been the online arena where the biggest growth has been found in recent years with pigsback.com the most heavily promoted website. It offers a range of printable grocery coupons which are accepted in the main retailers – although not, generally speaking in your corner shop. If you were to buy all of the items on the list it would automatically knock [euro]20 off your grocery bill.

Like Tesco, it has a credit card, which enables users to earn extra PiggyPoints. You earn one for every [euro]2 spent on the card plus 2,000 when the account is opened. These points can be used to claim a variety of rewards although climbing the PiggyPoint mountain can seem a little daunting – to get a [euro]10 voucher for TGI Friday’s, you need 900 points, while 4,500 points will get you a [euro]50 Essensuals hair voucher.

“Is this a case of Pigflation?” he wondered.

COUPONS: THE VIEW FROM TWITTER It drives me berserk when old dearies start counting out their coupons, sloooowly, at the checkout. – Catherine I feel a bit cheap with coupons but no problem with online discount codes (no one can see you at checkout). – Anne I do sometimes but then I always forget which safe place I left them in and end up finding them years later. – Annie I use coupons! Sure that’s what they are there for. Coupons here are not as good as in the States though. – Rachelle Have loyalty cards for coffee, Dunnes and Boots and print off coupons from Pigsback. It doesn’t take much time and saves money. – Graham Coupons too damn fiddly and fussy. Besides, suspect prices of other products increased to compensate. – Miriam I can’t even keep a Starbucks loyalty card going for a week. Now if stamps were smartphone-ised . . . – Brendan I don’t, more because I’m disorganised, nothing to do with being scabby. – Adam CONOR POPE

Jopling responds, and Hirst’s Sotheby’s sale bandwagon rolls on amidst the buzz and controversy

Tuesday, September 2nd, 2008


Damien Hirst, Auction: Beautiful Inside My Head Forever / “ANATOMY OF AN ANGEL” – Carrara marble

Last week Jay Jopling, Damien Hirst’s long time dealer in London out of the White Cube gallery, in an email statement, denied that the gallery has a “mountain” of unsold works before a Sotheby’s sale as reported by much of the media, including by Art Observed, over a week ago. Jopling did not directly dispute the number of works held it White Cube’s stock but said: “”The appetite for Damien’s art is such that we never have enough and I’m always keen to have as much work on consignment as possible.” The dialog relates to Damien Hirst’s controversial direct sale of 223 works through Sotheby’s of London on September 15–16.

Hirst’s Dealer Denies `Mountain’ of Unsold Works Before Auction [Bloomberg]
White Cube Says Number of Hirst Works in Stock Is Normal [ArtInfo]
Hirst in the Hamptons [NYSun] Aug 28
Hirst Alert! [ArtInfo] Aug 27
Galleries hit as Damien Hirst tees off [TimesOnlineUK]
D-day for Damien: Is Hirst about to turn the art market on its head or finally come a cropper? [The Independent]
A disclosure of White Cube’s unsold Damien Hirst inventory before the artist’s controversial September 15th direct sale by Sotheby’s
[ArtObserved]

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Gagosian taps into the wealth of Russia with October show

Tuesday, August 19th, 2008


Larry Gagosian at the opening of Center of Contemporary Culture Moscow (CCCM) via Style.com

Moscow is anticipating a worthy contemporary art scene brought by Larry Gagosian. Building upon the strong review from last year’s first show, Gagosian Gallery is making its presence in Russia. “For what you are about to receive” is Gagosian’s a second exhibition will be held at Red October Chocolate Factory, opening on September 18th until Ocober 25th. Artist Aaron Young will be presenting a motorcycle performance Arc Light for the opening of the show (AO has exclusive video from Aaron Young’s motorcycle show in New York here). This show will exhibit works by well-known contemporary artists such as Jeff Koons, Willen de Kooning, Richard Serra and Takashi Murakami. Curated to explore the conceptual relationship between commercial production and artistic abstraction, the show is intended to engage the viewers with modern materialism.

Gagosian Gallery in Moscow [Artnet News]
Gagosian Gallery
Read more about the exhibition at the Russian art blog IZO here and here.

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Update: Damien Hirst goes to Auction at Sotheby’s, September 15-16, 2008

Tuesday, July 29th, 2008

Damien Hirst at the White Cube Gallery via Museum Lab

As previously covered by AO here Damien Hirst, is preparing for his Sotheby’s auction this September and has come out with a new formaldehyde suspended tiger shark, a cow with golden horns and hooves, a unicorn, in addition to spot paintings, and butterfly collages, among many other newly created works made specifically for the all-Hirst auction. The sale, entitled Beautiful in My Mind Forever, will be comprised of 223 lots, and is expected to raise somewhere between $100 million and $150 million over the two-day sale that takes place on September 15th and 16th. The Golden Calf alone is expected to sell at a high of $25 million. The sale is extremely notable as Hirst is circumventing his main dealers Larry Gagosian in New York and Jay Jopling of White Cube in London and going directly to auction. Though Jopling and Gagosian have ostensibly given their blessing, the auction reflects a potentially new paradigm in the the way art is sold.

Golden calf, bull’s heart, a new shark: Hirst’s latest works may fetch £65m [Guardian]
Damien Hirst brings £65m of his wares to market [Times Online]
Artist Hirst Jumps the Shark, Cuts Out [NYPost]
Hirst auction expected to raise £65m [Financial Times]
Hirst Still Playing Elaborate Joke On Hedge Fund Community [Dealbreaker]
Damien Hirst auction expected to fetch £65 million and Art sales: Bullish Hirst Rattles the Market [Telegraph]
Damien Hirst is Rewriting the Rules of the Market [The Art Newspaper]
Damien Hirst: Beautiful Inside My Head Forever [Sotheby’s]
Hirst auction expected to fetch 65 million pounds [APF]
Hirst’s ‘Golden Calf’ could sell for $16-$24 million at Sotheby’s London [ArtObserved]

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Go See: “Retrospective” group show at Gagosian, Chelsea, NY through August 22

Wednesday, July 23rd, 2008

Red, Andy Warhol, (1978) via Gagosian

Gagosian’s spacious Chelsea gallery presents 13 contemporary artists in ‘Retrospective’: Chris Burden, Marcel Duchamp, Tom Friedman, Piero Golia, Douglas Gordon, Richard Hamilton, Jasper Johns, Roy Lichtenstein, Takashi Murakami, Piotr UklaÅ„ski, Andy Warhol, Martin Kippenberger, and Ed Ruscha. Keeping in company with several thematic group shows this summer, this one has been assembled by Andisheh Avini, Gagosian curator, and artist.

Press Release [Gagosian]
‘Retrospective’: Been There, Sold That [NYSun]
Some Shows For Escape, Some For Introspection [NYTimes]
View video of the Retrospective group show here [Gagosian]

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Hirst’s ‘Golden Calf’ could sell for $16-$24 million at Sotheby’s London

Friday, June 20th, 2008

Damien Hirst, The Golden Calf via artdaily

Sotheby’s in London has recently announced that Damien Hirst will be auctioning off a number of newly created works at the sale: ‘Beautiful Inside My Head Forever’ on September 15 and 16. The highlight of the sale is Hirst’s Golden Calf, which is an 18-carat gold encrusted bull submerged in a tank of formadehyde, is expected to sell for $16 to $24 million. This Sotheby’s sale is comprised exclusively of works made by Damien Hirst during the past two years.

Hirst’s Golden Calf Is Pricey Per Pound [NYTimes]
The Golden Calf by Damien Hirst Headlines Groundbreaking Auction of Work by Artist [artdaily]
Damien Hirst to Auction Own Works at Sotheby’s [artinfo]
Damien Hirst to sell £12 million ‘Golden Calf’ artwork at auction [TIMESOnline UK]
Dropping the Other Calf [TIME]
Hirst to Offer `Golden Calf’ for 12 Million Pounds at Sotheby’s [Bloomberg]

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Newslinks: Thursday June, 19 2008

Thursday, June 19th, 2008


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

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

NEWSLINKS 05.09.08

Friday, May 9th, 2008


Vito Schnabel via The Age.com

Vito Schnabel’s art dealing off to a fast start [NY Sun]
The other (non-Hirst) British human skull artist
[Guardian.co.uk]
$100M pier upgrade allows Armory Show to expand exhibitors [NYTimes]
An in-depth profile of Larry Gagosian via those who know him [Economist]
Takashi Murakami on Time’s most influential people list [ArtInfo]

Serra's monumental "Forty Years" review at MoMA

Friday, June 1st, 2007

Running June 3 – September 10, The Museum of Modern Art’s retrospective exhibit of the work of Richard Serra brings forty years worth of sculpture, often gigantic, to the museum’s forefront. On Tuesday night, LVMH hosted a dinner in honor of the new MoMA’s most ambitious sculpture exhibition to date. The opening of Richard Serra Sculpture: Forty Years drew over 500 guests to the midtown museum. Among them were painters Brice Marden, Frank Stella, and Chuck Close and a clutch of connoisseurs in the form of Larry Gagosian, Veronica Hearst, and Lily Safra. Beginning at the inception of the artist’s career in the late 1960s, the exhibit features his work with nontraditional materials like neon, rubber and lead, and moves chronologically through the many phases of Serra’s sculpting. (more…)