News Articles Library Event Photos Contact Search

Displaying items by tag: Collectors

Monday, 15 October 2012 18:35

Gagosian Opens Another Gallery in France

Two years after opening a Paris branch, Larry Gagosian will open a large gallery space in Le Bourget on the grounds of an airport. Designed by Pritzker Prize-winning French architect, Jean Nouvel, the space is located in a former 1950s hangar boasting 17,760 square feet. The inaugural exhibition at the two-level gallery will be by German painter and sculptor, Anselm Kiefer.

Gagosian, proprietor of the world’s largest commercial gallery network, planned for the Le Bourget opening to coincide with the annual Foir Internationale d’Art Contemporair (FIAC) in Paris, a contemporary art fair that brings in a hefty crowd of international art collectors.

Kiefer’s exhibition will feature five paintings and a huge field of handmade wheat stalks surrounded by a rust-colored steel cage. Titled Morgenthau Plan, the work refers to a plan devised in 1944 by U.S. Treasury Secretary, Henry Morgenthau, to disarm Germany by shutting down its industry and converting it to a strictly agricultural state. The hugely expansive space allows for such monumental installations. Nouvel, who designed the gallery in four months, put up four partition-like walls inside to create a central interior space and then used the area outside the walls and beneath the high ceilings to create display rooms and mezzanines.

France is home to some of the world’s top art collectors including chief executive officer of PPR, Francois-Henri Pinault, and French business magnate, Bernard Arnault, making it a prime destination for art dealerships. The new Gagosian Gallery will open on October 18 and Kiefer’s exhibition will run through January 2013.

Published in News
Thursday, 11 October 2012 17:29

Frieze Art Fair Kicks Off in London

Committed to showcasing the best in contemporary art, the The Frieze Art Fair decided to mix things up in honor of its tenth anniversary. Taking place from October 11 –14, the fair will exhibit ancient works at the simultaneous inaugural show, Frieze Masters. The fair will feature 96 galleries offering works from the last 4,000 years. While the inclusion of non-contemporary work encourages crossover collecting, it also allows patrons to explore the past’s influence on contemporary art.

Between the Frieze Masters’ exhibitors and the 175 contemporary galleries participating in the fair, there will be a total of $1.5 billion worth of art in London’s Regent’s Park. After last night’s exclusive VIP preview, it seems that collectors are anxious to buy.

One of the first pieces to sell at the fete was Pablo Picasso’s Homme et Femme au Bouquet priced at $8.5 million. An unidentified U.S.-based collector snapped up the painting at Frieze Masters. Over at the contemporary fair, Paul McCartney’s 2012 mixed-media sculpture, White Snow Head, sold within the first ten minutes of the preview for $1.3 million.

Attracting thousands of visitors from around the world including big name collectors such as Martha Stewart, PPR chief executive officer Francois-Henri Pinault, and New York mayor Michael Bloomberg, it will be interesting to see the effect the fair’s widened scope will have on sales.

Published in News
Tuesday, 02 October 2012 15:22

Paris Tableau Returns for its Second Year

Held from November 7th to 12th at the Palais de la Bourse, Paris Tableau will try to outdo last year’s inaugural show, which saw over 6,000 patrons and sold 60 major paintings.

Centered on Old Master Paintings ranging from the Middle Ages to the Second Empire, Paris Tableau was created by ten dealers – Maurizio Canesso, Hervé Aaron, Eric Coatalem, Bertrand Gautier, Bob Haboldt, Jean-François Heim, Georges de Jonckheere, Jacques Leegenhoek, Giovanni Sarti and Claude Vittet – who all share the same vision. While multi-discipline art fairs are currently commonplace, the dealers felt a fair dedicated solely to Old Masters was both needed and desired by collectors, curators, and fans.

This year’s Paris Tableau will host a loan exhibition from Le Mobilier National (The National Furniture Museum of France). Curated by Arnauld Brejon de Lavergnée, the former Director of Collections at Le Mobilier National, Hidden Treasures of the Goblins, will feature approximately 20 paintings and painted cartoons, some of which have never before been on public display. The point of the exhibition is to illustrate the link between paintings and its translation into textiles for interior use.

A festival of iconic films that thematically explore Old Master Paintings will also be part of Paris Tableau. Held from November 9th to 10th, the festival features such films as Rembrandt, Nightwatching, The Mill and the Cross, and The Girl with a Pearl Earring.

Published in News
Monday, 01 October 2012 14:02

Peter Brant Using Art as Collateral

Peter Brant, chairman and chief executive officer of the White Birch Paper Co., has fallen from billionaire status and is turning to his contemporary art collection to help recapitalize the family newsprint business. An early patron of Andy Warhol, Brant recently pledged 56 works to the lending arm of Sotheby’s including works by Warhol, Richard Prince, and Jean-Michel Basquiat. Brant also pledged pieces to a unit of the Deutsche Bank AG and his former business partner, including a Warhol from the early 1960s that is said to be worth around $35 million.

Ranked as one of the largest contemporary art collectors in the United States, Brant joins a number of wealthy collectors who have started taking out loans backed artworks to fund their ventures. It is rumored that Brant used his art collection to provide some of the capital needed to buy White Birch out of bankruptcy in 2011.

According to an annual report, Sotheby’s Financial Services provides consignment loans secured by artworks that borrowers have agreed to sell through the auction house, permitting them to get some of the proceeds as much as a year ahead of time. The auction house also makes term loans on works that clients aren’t planning to sell in order to solidify relationships with borrowers that will hopefully lead to future consignments.

Published in News
Tuesday, 25 September 2012 00:12

Three Turner Paintings Aren’t Fakes After All

Three paintings left to the National Museum Wales in 1951 by notable Welsh collectors, Gwendoline and Margaret Davies, have been reclassified as authentic after spending decades in storage. In 1956 it was decided that that the paintings, Off Margate, Margate Jetty, and The Beacon Light, were either fake or not fully by the English Romanticist J.M.W. Turner’s (1775–1851) hand.

Turner experts have examined the paintings intermittently during the 1960s, 1970s, and 1980s to similar ends. Thanks to today’s modern methods such as X-ray, infrared, and pigment analysis, the seascapes were finally vindicated. The process unfolded on the BBC program, “Fake or Fortune,” proving that the paintings’ materials were consistent with the materials notably used by Turner.  

Although the three paintings’ values have subsequently skyrocketed, they will remain in the National Museum’s collection. The Davies sisters who built one of the most important Impressionist and 20th century art collections in Britain, bequeathed seven Turner paintings to the Museum in the early 1950s. All of the paintings will go on display together starting September 25th.

Published in News
Friday, 21 September 2012 13:34

Sotheby’s Signs Deal with Beijing Art Company

Sotheby’s has decided to get in on China’s art market boom and has signed a 10-year-joint-venture agreement to form the first international auction house in China. Until now, international auction houses have not been permitted in China outside of Hong Kong. The agreement is with Beijing GeHua Art Company, a state-owned enterprise that is part of the Beijing GeHua Cultural Development Group. Sotheby’s will be investing $1.2 million to take an 80% stake in the undertaking.

The venture, called Sotheby’s (Beijing) Auction Co. Ltd., comes at a time when Beijing is attempting to legitimize their reputation as the auction industry has recently been burdened with rampant fakes, smuggling, and non-payments.

Sotheby’s is looking to tap into China’s growing collector base and also plans to take advantage of the new Tianzhu Free Trade Zone being developed by GeHua in Beijing. The Free Trade Zone will give Sotheby’s clients access to tax-advantage storage facilities. An inaugural auction will take place at the Millennium Hall of the Beijing World Art Museum on September 27.

Last year, China overtook the United States to become the world’s largest art and antiques market so it’s no wonder that other companies are looking to get in on the action. For example, Christie’ International has licensed its trademark to Beijing-based auction house, Forever, although they do not hold sales in China itself. In addition, two of China’s biggest auction houses, China Guardian Auctions Co. Ltd. and Poly International, are looking to attract wealthy international clients. China Guardian opened a New York office this past December and plans to establish a strong presence in London as well.

Published in News
Wednesday, 12 September 2012 17:30

The Paradoxical State of the Art Market

Art fairs like the Paris Biennale, opening Friday, bring out the two salient features of the new art market: Prices are nearly all beyond the reach of average budgets, and most of the youngest dealers are already in their 40s or 50s.

World records tumbled during the past season, prompting lyrical celebrations in the news media. Auction houses love it. Should we too, seeing the records as homage paid by growing numbers of art lovers? Hardly. Seemingly paradoxical in recessionary times, records merely highlight the huge price rise of the art of the past over five decades.

True, this increase has not been uniform. Even as records are being set, wild estimates fail to be matched and some works sell at levels that leave their consignors with severe losses.

Published in News

Ever wondered what Luc Tuymans thinks of the Louvre? At Frieze Masters, you’ll find out. The highly-anticipated Frieze London spinoff's talks program is power-packed. Artist Cecily Brown will talk with National Gallery of Art director Nicholas Penny about how she uses traditional imagery and subject matter in her art, while Glenn Brown will discuss his appropriation of historical artwork with Kunsthaus Zurich curator Bice Curiger. Tuymans will offer insight into his decision-making process when painting iconic historical moments in a conversation with Louvre Museum senior curator Dominique de Font-Réaulx.

These events get at the heart of the inaugural Frieze Masters, which plans to mix Old Master treasures with modern masterpieces in an effort to lure collectors out of their comfort zones.

Published in News
Monday, 13 August 2012 18:30

China's Art Market is a $13 Billion Bust

If you pay attention either to China or the art market, you’ve probably heard the story: China last year became – according to art industry experts – the world’s largest market for art and antiques, surpassing the USA.

Well, here’s a shocker: it isn’t.  Not even close.

Published in News
Wednesday, 10 August 2011 03:45

Collectors and artists flock to upstate New York

The trend for renovating derelict buildings in Hudson, New York, continues apace, with two art collectors in the process of converting an old school, dating to the 1920s, into an arts centre.

The collectors, Steven Johnson and Walter Sudol, have bought the building from the city for around $300,000. “It will ultimately become an art foundation. We are building a 500-person auditorium as well as around ten spaces, each around 1,500 sq. ft, that will be used as galleries,” said Johnson. The centre, The Second Ward, is named after the school, and is due to open in 2013.

The programme is still “rather unstructured at this point”, said Johnson, who sees the space as a venue for local and established artists. “We’ve talked loosely with artist friends like Christian Marclay about doing projects, but there are no set plans yet. We want the auditorium to become a venue for local artists—there’s a real film and music scene in town already,” added Johnson, who aims to make admission free.

The centre will also provide storage for the couple’s collection which comprises several hundred works by around 40 artists such as Wade Guyton, Gabriel Orozco, Nancy Spero, Raymond Pettibon and Wolfgang Tillmans. Curators and artists will be invited to curate shows from the pair’s holdings, although Johnson said that, “we don’t want this to just be about our collection.”

Published in News
Page 12 of 12