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By the time Art Basel Hong Kong opened to VIPs on May 14, Edouard Malingue had already sold out his entire inventory of paintings. He spent the rest of the fair fending off disappointed would-be buyers.

“Some of my clients got really upset with my staff and I had to intervene,” said Hong-Kong-based Malingue, after all seven works by Chinese painter Yuan Yuan were sold in advance of the fair. “I explained that we’ve been selling to new collectors and the artist isn’t a factory.”

Published in News
Friday, 02 May 2014 12:46

PULSE Art Fair Moves to Miami Beach

The Miami art fair PULSE just kicked a little sand in the face of its rivals.

The contemporary art fair plans to relocate from downtown Miami to a spot along the beach this winter—a move to lure more visitors and stand out from the crowd of more than a dozen art fairs that hit the city every December. Fair director Helen Toomer unveiled the new location in an interview Thursday.

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Thanks to a rare arrangement with the Fondation Beyeler in Basel, Switzerland, the St. Louis Art Museum will host a small exhibition of works by the Abstract Expressionist painter Mark Rothko. The St. Louis Art Museum was loaned the Rothko works because it agreed to send its collection of Gerhard Richter paintings to the Fondation Beyeler for inclusion in the largest exhibition devoted to Richter ever held in Switzerland.

The  St. Louis Art Museum’s Rothko exhibition will include four paintings from the Fondation Beyeler and four works from its own collection, two of which have not been on view since 1994. The show will run from May 24 through September 14.

The Fondation Beyeler’s Richter retrospective will be on view from May 18 through September 7. The exhibition will coincide with Art Basel (June 19-June 22), which will give the St. Louis Art Museum’s paintings considerable visibility.

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Next month, Sotheby’s London will sell approximately 120 works from the collection of the late Jan Krugier, a preeminent dealer of 20th century art. Krugier, who passed away in 2008, sold works for Pablo Picasso’s family and was close friends with the artist. He operated galleries in Geneva and New York and was a powerful presence at art fairs such as TEFAF Maastricht and Art Basel.

37 works will be sold during an evening sale of Impressionist and Modern Art on February 5 and the remainder of the collection will be offered during the day sale on February 6. Most of the collection is comprised of works on paper and include pieces by Francisco Goya, Jean-Auguste-Dominique Ingres, Paul Cezanne, Edgar Degas and Pablo Picasso. Sotheby’s expects the entire collection to garner between $39 million and $57 million. The most expensive work to be offered is Alberto Giacometti’s cast bronze ‘L’homme qui marche III’, which is expected to fetch between $5 million and $8 million.

Last November, Christie’s New York held a highly anticipated sale of works from Krugier’s collection but the auction failed to meet expectations.

Published in News
Thursday, 05 December 2013 18:01

Art Basel Kicks Off in Miami

Art Basel Miami, one of the most highly-anticipated art events in the world, is currently underway. This year, the show, which draws over 50,000 visitors annually, is hosting more than 250 of the world’s leading galleries. Art events extend beyond the Miami Beach Convention Center where the fair is held to museums and galleries across the city.

Exhibitors from North America, Latin America, Europe, Asia and Africa will be present at Art Basel Miami offering everything from modern and contemporary art masterpieces to works by emerging artists. Exhibitors include Acquavella Galleries, Gagosian Gallery, Gladstone Gallery, Howard Greenberg Gallery, Hauser & Wirth, Hirschl & Adler Modern, Paul Kasmin Gallery, Lehmann Maupin, Pace, White Cube, and David Zwirner. Offerings range from paintings, sculptures drawings and photographs to films and installations.

Art Basel Miami Beach will take place through December 8.

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Steven A. Cohen, a hedge-fund manager and founder of SAC Capital Advisors, will sell works from him impressive art collection in New York later this month. The majority of the sales will be part of Sotheby’s contemporary art evening sale on November 13, but Christie’s will also sell a small portion, estimated to be worth less than $5 million.

The trove headed to Sotheby’s includes works by Andy Warhol, Gerhard Richter and Cy Twombly and is estimated to be worth around $85 million. Highlights include Andy Warhol’s portrait of Elizabeth Taylor titled Liz #1 (Early Colored Liz); a 10-by-8-foot canvas by German artist Gerhardt Richter, which was shown by the Pace Gallery at Art Basel in 2012; and a bronze sculpture by Cy Twombly.

Cohen, an avid collector who is active in the market, is bringing this collection to auction after SAC was accused in a grand-jury indictment of encouraging insider trading. The company was told it would have to pay $1.8 billion and admit wrongdoing to resolve securities-fraud charges, including a previous penalty of approximately $600 million.

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Christie’s will sell a number of pieces from the collection of Jan Krugier, an art dealer who sold works for Pablo Picasso’s family. The sale will include over 150 lots and is expected to garner at least $170 million. The sale, A Dialogue Through Art: Works from the Jan Krugier Collection, will take place on November 4-5, 2013 at the auction house’s New York location.

Krugier, who died in 2008, was one of the leading dealers in premier 20th century art for four decades. He operated galleries in Geneva and New York and exhibited at highly anticipated art fairs including Art Basel in Switzerland and TEFAF Masstricht in the Netherlands. Krugier’s Manhattan gallery closed in 2010 and his company no longer participates in fairs.

A Dialogue Through Art will present 30 works by Picasso including a maquette for the 65-foot sculpture Tete, which is located in Chicago. The work is expected to sell for $25 million to $35 million and is the most valuable piece in the sale. Other highlights include a bronze sculpture by Alberto Giacometti made for the Venice Biennale, which is expected to sell for $9 million to $12 million; a Fauvist period landscape by Wassily Kandinsky, which carries a $20 million to $25 million estimate; and a 1982 painting by Jean-Michel Basquiat, which is expected to sell for $3 million to $4 million.

A selection of works from the upcoming sale will be on view at Christie’s headquarters in London through September 19, 2013.

Published in News
Monday, 17 June 2013 18:04

Art Basel 2013 Achieved Record Attendance

The 44th edition of Art Basel closed on Sunday, June 16, 2013 after welcoming a record 70,000 visitors. Exhibitors at the highly anticipated fair reported exceptionally strong sales throughout the show’s six-day run and patrons were impressed by the quality of the works offered.

This year, Art Basel hosted 304 international exhibitors at Messe Basel, a venue situated at the border of Switzerland, France and Germany. Among the offerings were paintings, drawings, sculptures, and photographs, which drew strong sales across the board. The buying frenzy began during the fair’s two-day VIP opening, which lasted from June 11th through the 12th and saw the $12 million sale of Alexander Calder’s (1898-1976) Sumac (1961) by London’s Helly Nahmad Gallery.  

Next year, Art Basel will be held from June 19-22, 2014.

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Wednesday, 12 June 2013 17:43

Art Basel Kicks Off in Switzerland

Art Basel, the most anticipated art fair in the world, will be held from June 13-16, 2013 in Switzerland. A VIP preview and vernissage were held on June 11 and June 12 respectively and included the $12 million sale of Alexander Calder’s (1898-1976) Sumac (1961) by London’s Helly Nahmad Gallery.

Now in its 44th year, Art Basel welcomes 304 international exhibitors to Messe Basel, a venue situated at the border of Switzerland, France and Germany. The fair presents the finest works of modern and contemporary art by more than 4,000 artists. Works on view include paintings, drawings, sculptures, installations, photographs, video and editioned works. The show is split into eight sectors – Galleries, Feature, Statements, Edition, Unlimited, Parcours, Film, and Magazines – and allows patrons to explore the many facets of modern and contemporary art including museum-quality paintings, curated projects, and site-specific artworks.  

The remarkable roster of exhibitors includes Acquavella Galleries Inc. (New York), Castelli Gallery (New York), Gagosian Gallery (multiple locations), Hauser & Wirth (Zurich/New York), Dominique Levy (New York), and Lisson Gallery (Milan/London).

Art Basel offers a full program of events including symposiums, artist talks, and lectures. Featured participants include Massimiliano Gioni, curator of the 55th Venice Biennale and Director at the New Museum, and Hans Ulrich Obrist, co-director of the Serpentine Gallery in London.    

Published in News
Wednesday, 16 January 2013 15:23

Art Basel Releases Exhibitor List for Hong Kong

From May 23-26, 2013, Art Basel will host 245 exhibitors at their first show in Hong Kong, which will replace the region’s biggest art fair, Art HK. Held at the Hong Kong Convention and Exhibition Center, Art Basel Hong Kong will feature works from emerging artists as well as 20th century masters from both Asia and the West. While Art Basel currently runs two major international shows in Switzerland and Miami Beach, the organization is striving to maintain an emphasis on the Asian region for the Hong Kong fair.

Top galleries from 35 countries will meet at Art Basel Hong Kong, which is divided into four categories: Galleries, Insights, Discoveries, and Encounters. Galleries will present over 170 modern and contemporary exhibitors; Insights will feature galleries solely from Asia and the Asia-Pacific region; Discoveries presents a showcase of one and two-person exhibitions by emerging international contemporary artists; and Encounters features large-scale sculptural and installation works by artists from around the globe.

Exhibitors at the upcoming Art Basel Hong Kong show include Dominique Levy Gallery (New York), Cecilia de Torres, Ltd. (New York), Wentrup (Berlin), Galeria Pedro Cera (Lisbon), Leo Xu Projects (Shanghai), Blindspot Gallery (Hong Kong), and Schoeni Art Gallery (Hong Kong).

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