Predicting Art Market Profit Potential Pt. 2 – artmarketblog.com

Since posting part 1 of my Predicting Art Market Profit Potential posts I have had some people question whether it is possible to predict whether an artist will achieve market success before they actually do.  Unfortunately many people either don’t know about ArtFacts.net or don’t understand how it works which is why I am writing this post.   One person said that: “A successful artist with lots of exhibitions and fame, will certainly have an extensive auction sale record, whereas an unknown artist will not.”  I can understand where this person is coming from, but their statement is incorrect.  An artist who has been widely and extensively exhibited can have a strong primary market (galleries etc.) for their work and a virtually non existent secondary market (auctions etc. ) for their work.  In fact, I know of many contemporary artists whose works fetch considerable amounts of money on the primary market but have not had any of their works sold at auction or via any secondary market   Before an artist develops a strong secondary market they usually have to have developed a strong primary market which would mean having their work exhibited by galleries, at fairs and as part of group shows.  What ArtFacts.net does is utilise primary market data to establish how much attention an artist is receiving.  That primary market attention, if properly leveraged, should then be able to be turned into secondary market attention and increased secondary market value. According to ArtFacts.net “According to ArtFacts.net, “The career of an artist depends on the success of their exhibitions”. This is certainly true for the long term career of an artist. Because price data is rarely available for primary market transactions, ArtFacts.net have developed a ranking system that ranks artists according to how widely and extensively they are being exhibited and how prestigious the galleries/museums they are being exhibited at are.  Although some of the older/deceased artists will be having their work exhibited/sold on the secondary market, much of the data is for emerging contemporary artists whose work is being sold/exhibited on the primary market, and who don’t yet have a secondary market, which gives people the opportunity to use the data the ArtFacts.net have collected to make predictions regarding the future secondary market potential of an artist and their work. In order to provide some sort of context in which to place the more emerging artists, the ArtFacts.net Artist Ranking tool includes a large number of modern artists such as Warhol, Picasso, Richter, Nauman etc. who, as one would expect, occupy the top spots of the ranking.  By having the more senior artists to make comparisons with, it is much easier to put the success of the emerging artists into context and see how their career compares to the careers of artists who already have a strong and established secondary market.

For those of you who are unfamiliar with ArtFacts.net, the first of their Artist Ranking Tool was created in 1999 and has since undergone various adjustments and changes to make it is today.  The concept of ranking artists according to the amount of attention they and their work receives is not a new concept. According to the Getty Museum “Fascinated by the high prices achieved by contemporary (postwar) art, the German art critic Willi Bongard developed a system, known as the Kunstkompass, for ranking artists based on indicators of fame. Using data gathered from museums, commercial art galleries, and art journal reviews, Bongard calculated the success of an artist from year to year and compared it to gallery prices, thus determining the artist’s investment potential.”  The Kunstkompass top 100 contemporary artists continues to be published each year by Germany’s Capital magazine thanks to the efforts of Bongard’s widow, Linde Rohr-Bongard.  ArtFacts.net have taken Bongard’s concept one step further and introduced a recently developed  Career Analyser too which allows subscribers to see how an artist’s career has developed over the years and how their ranking has changed.  According to ArtFacts.net “The Career Analyser Tool examines an artist’s career in the ranking system from two further perspectives: the position in the ranking and the score for each exhibition – both results are calculated over the years. The last object of the analysis is the “Peer Group”: on the basis of the different ranking careers, we detect the artist’s artistic entourage that is the artists with whom he/she usually exhibits in group exhibitions.”  ArtFacts.net have also developed a separate Auction Analyser Tool in conjunction with ArtTactic.com which provides a detailed and in depth analysis of an artist’s career in the auction market.

With a total of just under 80,000 ranked artists, there is no shortage of information on ArtFacts.net so I urge everyone to take the time to check it out and purchase a subscription.  It will be well worth your while

Top 100 Ranking
http://www.artfacts.net/index.php/pageType/ranking/paragraph/4/lang/1

Artfacts.net stats:

19,513
exhibitors worldwide
166
countries
216,913
exhibitions worldwide
229,700
artists biographies
79,338
ranked artist
16,608
works of art
1,421
catalogs

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications

Predicting Art Market Profit Potential Pt. 1 – artmarketblog.com

Using auction prices to identify trends and determine whether the price being paid for a particular artist’s work is on the rise is all well and good, but by the time the price of an artist’s work begins to rise in a rapid manner, the best opportunity to profit from the price increase is likely to have already passed. Auction price databases such as artprice.com and artnet.com are extremely useful but they are really only useful for artists who already have an extensive auction sale record. What if there were a system that was able to identify those artists who are most likely to achieve market success before they actually do?. Well, you may be pleased to hear that there is. By looking at what is essentially one of the most influential factors that determines the success of an artist’s career, namely how many exhibitions an artist’s work is included in and how important those exhibitions are, ArtFacts.net is able to rank artists according to their fame and popularity in the cultural sphere as well as in the commercial gallery sphere. That ranking, according to ArtFacts.net, is generated according to the theory that the greater number of shows the artist has, the greater will be the fame of a particular artist. And, as we all know, familiarity generates demand, and increased demand equals increased value (usually). I don’t think that anyone can dispute the fact that museum and gallery shows make artists more saleable and raise the price of their work.

The way that the ArtFacts.net Artist Ranking Tool works is by assigning different points values to particular types of exhibitions and the different institutions and galleries that hold these exhibitions. The number of points assigned to an artist depends on the importance of that institution/gallery exhibiting their work and the amount of exposure that the exhibition gives the artist in question. According to the ArtFacts.net website “Solo shows are worth more than group shows or art fairs. Documenta, in Kassel, Germany, is worth more than the Venice Biennale. Public museums count more than galleries. And different museums have different weights. Those in cities like Paris or New York count for more. Small museums and university museums count for almost nothing”. There does of course have to be some sort of criteria to determine whether an artist is worthy of being included in the system which is where the eligibliity criteria come into play. For an artist to be ranked they must have a sufficiently international presence which in the case of ArtFacts.net means those artists that have long term ties with at least three countries. According to ArtFacts.net “A.R places great importance on the international representation of artists. Only artists operating in international structures will be chosen as a primary value source. The reason why A.R does this is because it recognises the worth of mutual knowledge. Only artists who are common to diverse societies, countries and/or cultures will be really important and therefore create a kind of brand or universal value (like a standard). So the A.R uses internationality as a standard for the basic calculations.”

To be continued…………..

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications

Who Purchased What Art 2nd Half 09 – artmarketblog.com

THE PROPERTY OF THE EARL OF JERSEY'S TRUST - SIR ANTHONY VAN DYCK ANTWERP 1599 - 1641 LONDON SELF PORTRAIT 2,000,000—3,000,000 GBP Lot Sold. Hammer Price with Buyer's Premium: 8,329,250 GBP

I always find it interesting and very useful to find out who is purchasing what at auction and for how much.  The information below comes from the auction houses who are only allowed to reveal the identity of those buyers who choose to have their identity revealed which, unfortunately,  is usually not many.   It is interesting to note that Philip Mould is a well known purchaser of undervalued or mis-attributed works of art which he then tends to re-sell for considerably more than he paid.

Christies
Important American Paintings, Drawings and Sculpture
New York – Wednesday, December 2, 2009
Sale no: 2225 – Top Ten
Raphaelle Peale, Still Life, oil on panel
Estimate: $300,000-500,000
Price Paid: $842,500/ £507,530/ €557,947
Purchased by: Richard Rossello/Avery Galleries

Purchaser Details:
www.artnet.com/ag/galleryhomepage.asp?gid=102

Christies
Victorian and British Impressionist Art Including Drawings and Watercolours
London – Thursday, 16 December 2009
Sale no: 7788 – Top Ten
Alfred Munnings reading by Harold Knight, R.A. (1874-1961)
WORLD AUCTION RECORD FOR THE ARTIST
Estimate: £30,000 – 50,000
Price paid: £115,250/ $187,281/ €128,850
Purchased by: Richard Green Gallery, London

Purchaser Details:
www.richard-green.com

Christies
Old Masters & 19th Century Art
London – Tuesday, 7 July 2009
Sale no: 7743 – Top Ten
Michele Giovanni Marieschi (Venice 1710-1743), The Courtyard of the Doge’s Palace, Venice, with the Scala dei Giganti, Saint Mark’s Basilica beyond
Estimate: £2,000,000- 3,000,000
Price paid: £2,169,250/ $3,512,016/ €2,518,499
Purchased by: Otto Naumann Ltd

Purchaser Details:
www.ottonaumannltd.com

Sotheby’s
Sale Results London, Bond St
Sale L09637 Old Master & British Paintings – Day Sale 10 DEC 09
James Seymour, Portrait of the racehorse Sedbury, with a groom, oil on canvas
Estimate: £80,000 – 120,000
Price paid: £505,250/ €558,553/ $820,526
Purchased by: Richard Green Gallery
***NEW AUCTION RECORD FOR THE ARTIST***

Purchaser Details:
www.richard-green.com

Sotheby’s
Sale Results London, Bond St
Sale L09636 Old Master and British Paintings – Evening 09 DEC 09
Sir Anthony van Dyck, Self portrait, oil on canvas
Estimate: £2,000,000 -3,000,000
Price paid: £8,329,250/ €9,207,960/ $13,521,704)
Purchased by: Alfred Bader in partnership with Philip Mould
***NEW AUCTION RECORD FOR THE ARTIST***

Purchaser Details:
http://www.alfredbader.com/
http://www.philipmould.com/

Sotheby’s
Sale Results London, Bond St
Sale L09663 19th Century European Paintings Including Spanish Painting, The Orientalist Sale, And German,
Austrian, Scandinavian and Symbolist Works 24 NOV 09
Adolph Menzel, Umgestürzter Teekessel (Upturned teapot), oil on canvas
Estimate: £40,000 – 60,000
Price paid: £373,250/ €413,301/ $617,393
Purchased by: French and Company

Sotheby’s
Sale Results London, Bond St
Sale L09699 20th Century British Art 11 NOV 09
Sir Stanley Spencer, John Donne arriving in heaven, pencil, pen and ink
Estimate: £12,000 – 18,000
Price paid: £87,650/ $146,831
Purchased by: Daniel Katz Ltd

Purchaser Details:
www.katz.co.uk/

Sotheby’s
Sale Results London, Bond St
Sale L09699 20th Century British Art 11 NOV 09
Frank Auerbach, Head of Leon Kossoff, oil on canvas
Estimate: £200,000 – 300,000
Price paid: £1,777,250 ($2,977,249)
Purchased by: Offer Waterman Fine Art Ltd on behalf of Private Collector

Purchaser Details:
www.waterman.co.uk/

Sotheby’s
Sale Results London, Bond St
Sale L09693 A Life in Pictures: The Collection of Lord and Lady Attenborough 11 NOV 09
Graham Sutherland, Thorn Head, 1947, oil on canvas
Estimate: £150,000 – 250,000
Price paid: £481,250 ($806,190)
Purchases by: Daniel Katz Ltd
***RECORD FOR THE ARTIST AT AUCTION***

Purchaser Details:
www.katz.co.uk/

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications

2010 Art Market Predictions – artmarketblog.com

Adriaen Coorte "Still life of strawberries in an earthenware bowl, on a stone ledge"

I have been watching the art market very closely over the last year and have to say that I was actually quite pleased with what I saw. The more scholarly and connoisseurial approach to fine art that emerged in 2009 has temporarily re-focused people’s attention on the historical, cultural and artistic value of art as opposed to the social and financial values that dominated the contemporary driven market of the boom period. I say temporarily, because although the glitz and glamour of the contemporary art market has taken a huge hit, and there is no doubt in my mind that the phenomenon that is contemporary art will shortly return to the position of power that has made it a force to be reckoned with in the past. Perhaps sooner than we may think!!

The scholarly and connoisseurial trend of 2009 still has a bit of juice in the tank and should continue to play a major role in the 2010 market. Take for the instance, the work of the rather mysterious Dutch Baroque still life painter Adriaen Coorte, whose work is little known outside the scholarly world and went largely unrecognized until he was rediscovered by a Dutch art historian in the 1950s. Works by Coorte rarely comes to market so when two small paintings came up for auction at Sotheby’s on the 2nd of December of 2009, it was predicted that there would be considerable interest, but not anywhere as much interest as there ended up being. The first painting, a still life of strawberries in an earthenware bowl was fought over by six bidders who pushed the sale price to 1,520,750 Euro which was not only more than ten times the 150,000 euro high estimate but was also a new auction record for the artist. Next on the block was the second work by Coorte which broke the auction record set by the previous painting when it sold for 1,576,750 Euro against the same estimate of 100,000-150,000 Euro. Both paintings were acquired by the same European collector.

Marcus Aurelius Root, Anthony Pritchard, 1850, quarter-plate daguerreotype

Another artist whose work is little known outside the scholarly world is that of Marcus Aurelius Root. An early work by the renowned Philadelphia daguerreotypist of Anthony Pritchard was a feature of the October 8 Miller-Plummer Collection of Photographs sale and reached the astonishing world auction record price for the artist of US$350,500 against an estimate of $20,000 – $30,000. The sale of this work by Root is another example of the current trend that has seen connoisseurs and scholars drive up the demand for works of cultural and historical significance. Root’s photo of Anthony Pritchard is not the only example of antique/vintage photography that has exceeded price expectations; the whole market for antique/vintage photography has experienced a continuing surge of interest as the importance of photography in an art historical context is further realised. 2010 should see a continuation of the interest in antique/vintage photography as collectors and museums vie for the top works in a niche that is still in it’s infancy, and that still presents opportunities for collectors and connoisseurs to acquire works of major cultural and art historical significance at potentially bargain prices.

As a result of the reduction in the demand for contemporary art, emerging markets such as South Africa, Indonesia, Turkey, Poland, Singapore, Iran, Greece, etc. have become a focus of dealers and auction houses in an attempt to generate new revenue streams. A deciding factor in the decision of which emerging market to penetrate has been whether or not there is a strong enough force of wealthy European/Western expats to fuel demand for souvenirs of their temporarily adopted homeland. Former expats of emerging markets are also being targeted by market forces in an attempt to encourage a sense of nostalgia that will result in the purchase of a memento of their time abroad. 2009 saw a concerted new ground being broken with region specific auctions, particularly with those of emerging markets such as Greece and Turkey – a trend that I predict will continue gaining momentum in 2009.

With owners of what are considered to be the most desirable and valuable works of art tending to sit on their assets while the art market bottoms out I predict that 2010 will see the slow return of those modern and contemporary works that tend to send the market into a flurry of excitement. Another prediction I will make is that art investment will continue to gain credibility and new avenues to invest in art will open up. A sign of the continuing acceptance of art as a viable alternative asset is the fact that Israeli billionaire Arnon Milchan recently told Forbes magazine that art is the best investment to own. In his words “If you have triple-A art, I’ve never seen it really go down. Great art is the best thing to own. We’ve seen recently the art market picking up fast. The last Sotheby sale broke records.”

Wishing everyone a great 2010 !!

Nic Forrest

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications

Top iPhone Apps for Art Collectors – artmarketblog.com

Several art related companies and institutions have taken advantage of the revolution that is the Apple iPhone, and released apps that make buying, browsing and finding out about works of art possible anywhere, anytime. Below are my top iPhone Apps for art collectors and investors.

Artfact.com iPhone App

Why waste your valuable time searching hundreds of old auction house catalogs and websites for auction price results, when you can find everything you need all in one easy-to-use service?
Artfact is the world’s largest and most comprehensive online auction price guide, delivering over 55 million price results for fine art, decorative art, antiques and collectibles all sold at auction.

-Browse over 100,000 upcoming live auction items
-Research over half a million auction price results
-Place confidential absentee bids on upcoming lots
-Receive email alerts if you are outbid
-Share your favorite items via Facebook or email

Available free of charge from the iTunes App Store
http://itunes.apple.com/us/app/artfact-live-auctions/id340245009?mt=8

Invaluable.com iPhone App

Invaluable Live! is the world’s premiere live auction bidding platform, enabling collectors and dealers around the globe to bid online in real-time on over 100,000 upcoming items for sale at auction. More than 150 traditional, international auction houses host their auctions exclusively on the Invaluable Live! platform.

-Browse over 100,000 upcoming live auction items
-Research over half a million auction price results
-Place confidential absentee bids on upcoming lots
-Receive email alerts if you are outbid
-Share your favorite items via Facebook or email

Available free of charge from the iTunes App Store
http://itunes.apple.com/us/app/invaluable-live-auctions/id343664441?mt=8

Christie’s iPhone App

When you are on the run, Christie’s iPhone application allows you to browse over 450 auctions in over 80 categories including all areas of fine and decorative arts, jewelry, photographs, collectibles, wine, and more from the palm of your hand. With a touch of a finger, you can also review auction results and learn how to buy and sell with Christie’s.

* Email a lot to a friend
* Discover how to buy and sell with Christie’s or more about our Private Sale services
* Explore over 80 Specialist Departments
* Get directions to and locate our salerooms across the globe using Google maps
* Show your passion for fine art, jewelry, decorative arts and more with one of our downloadable wallpapers
* Learn about the history of the the world’s first fine art auctioneers, and about our company today

Available from iTunes App Store
http://www.christies.com/on-the-go/iphone/

Saffron Art iPhone App

Key features of the application include a color-coded bid status indicator, proxy bidding capabilities, as well as information on current bid amounts, bid histories and post-auction results. Users can also preview the entire auction catalogue, with such lot details as size, surface, medium, estimates and images, searching by lot number, artist or designer name, material or type

Available from iTunes App Store
http://www.saffronart.com/sitepages/Mobile-Auction/iPhone.aspx

LiveAuctioneers.com iPhone App

Anyone with this application loaded onto their iPhone will have instant access to any auction catalog listed on LiveAuctioneers and can even log in and leave absentee bids through our Secure Bidder Network (SBN). With SBN functionality, which is unique to LiveAuctioneers, your absentee bid is kept private and unknown to anyone until auction day, when the bid is executed. Additionally, the new iPhone app enables the user to share auction lots with others via e-mail and to access more than 4 million fully illustrated auction results from past sales conducted through LiveAuctioneers

Another bonus feature of LiveAuctioneers’ iPhone app is its exclusive direct connection to Auction Central News (www.auctioncentralnews.com), the leading online source for news about auctions, antiques and fine art.

Available from iTunes App Store
http://www.liveauctioneers.com/iPhoneApp

Heritage Auctions iPhone App

Heritage Auctions has announced the launch of a mobile version of its award-winning Website, www.HA.com. Collectors now have the opportunity to search for, view and bid on any lot in any current Heritage auction from most any mobile device with a web browser from anywhere in the world where there’s Web service.

Available from iTunes App Store
http://itunes.apple.com/au/app/heritage-auctions/id346185455?mt=8

Artnear iPhone App

Artnear is the first global guide to art for the iphone platform. Find top galleries and museums around the world. Browse and see images of current shows, openings and more.

Available from iTunes App Store
http://itunes.apple.com/au/app/artnear/id320653064?mt=8

Seoul Auction iPhone App

Check what’s happening with Korea’s leading art auction house

Available from iTunes App Store
http://itunes.apple.com/au/app/seoulauction/id345138823?mt=8

Saatchi Magazine iPhone App

Art News, views, reviews, interviews, essays by the world’s leading writers, critics and curators on art and artists, weekly openings and more…

Available from iTunes App Store
http://itunes.apple.com/au/app/saatchi-magazine/id341552232?mt=8

Louvre iPhone App

The Musee du Louvre in Paris has recently launched its own iPhone application, offering a virtual experience of the world’s largest museum. Users can view some of the Louvre’s most famous items, such as the Mona Lisa and St. Mary Magdalene, and take a virtual tour of the museum’s historic buildings. As well as virtual guides, the app also offers tourist information about the museum, such as opening times and visitor maps.

Available from iTunes App Store
http://itunes.apple.com/au/app/id337339103?mt=8

National Gallery London iPhone App

The National Gallery is offering art lovers the opportunity to put works by Leonardo and Van Gogh in their pocket. A new application, called Love Art, allows iPhone and iTouch users to explore 250 of the Gallery’s best-loved paintings in the palm of their hand.

Take an unforgettable journey around the National Gallery. Zoom in to explore fine details and enjoy over three hours of video and audio content.

You can listen to the stories behind the masterpieces in insightful interviews with artists, writers and experts including:

* National Gallery Director Nicholas Penny
* Dramatist Robin Brooks
* Artist Maggie Hambling
* Author Tracy Chevalier

Available from the iTunes App Store
http://itunes.apple.com/au/app/love-art-national-gallery-london/id314566159?mt=8

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications

The Spectacle of the Art Market Pt. 4 – artmarketblog.com

Andy Warhol, 200 One Dollar Bills, March-April 1962, est. $8/12 million

This is the final post in the four part series on the “Spectacle of the Art Market” – a topic that I believe to be extremely relevant and very important. As I expected there were some people who did not believe the buying trend I wrote about in part 2 which suggests that there is a connection between the sentiment/mood of buyers and the type of works that they buy. I looked for further information that supports my theory that happier and more cheerful works (brighter and shinier) are more popular during boom times when the mood and sentiment is positive, and that people take more notice of the more subdued and less visually spectacular works during market downturns when the mood and sentiment is less positive. Not only did I find some evidence that supports my theories but I also found evidence that I am not the only one who has noticed the buying trends that led me to develop the concepts that I have written about.

During my search I came across a statement by a Sotheby’s specialist who was commenting on the sale of Warhol’s “200 One Dollar Bills”. The Sotheby’s specialist suggested that a less striking and visually spectacular work such as the grey and black “200 one dollar bills” would not have received the attention that it did, and would most likely have been overshadowed by other more visually striking works had the contemporary art market boom still been in full swing and levels of conspicuous consumption were elevated. The $43,762,500 paid for Warhol’s “200 One Dollar Bills” was the highest price paid for a work of art at Sotheby’s November 11 contemporary art auction but what is interesting is that the second most expensive work of art was very similar in appearance to the Warhol. Jasper John’s “Gray Numbers” is another work that perhaps would not have attracted so much attention had the market been under a greater influence of trophy hunters and indiscriminate buyers.

Jasper Johns’ Gray Numbers

If you haven’t seen the Tate Modern’s exhibition “Pop Life: Art in a Material World” then you should go and see it because this exhibition is essentially a display of what is wrong with the contemporary art world and the contemporary art market. According to the exhibition press release “Pop Life: Art in a Material World argues that Warhol’s most radical lesson (Warhol’s notorious provocation that ‘good business is the best art’) is reflected in the work of artists of subsequent generations who, rather than simply representing or commenting upon our mass media culture, have infiltrated the publicity machine and the marketplace as a deliberate strategy.” This could well be a correct statement if the strategy they are referring to is a strategy to make money and become famous by taking advantage of the consumerism and mass culture that are so influential in modern society. The press release goes on to say that: “The conflation of culture and commerce is typically seen as a betrayal of the values associated with modern art; this exhibition contends that, for many artists working after Warhol, to cross this line is to engage with modern life on its own terms.” Referring to the conflation of culture and commerce as a result of artists attempting to engage with modern life is, in my opinion, a flimsy excuse that an artist would use to surrender to the powers of popular and commercial culture. The fact that contemporary art is often so ambiguous means that it is quite possible for an artist to give a work the identity of their choice regardless of whether or not the basis of that identity has anything to do with the reality of the work and the artists intentions. I think that it is quite obvious that in the contemporary art market there is a significant level of value put on the visual impact of a work of art and artists are well aware of this.

The concepts that I have written about in the “Spectacle of the Art Market” series of posts are by no means flawless or bulletproof. I am not aware of any intensive studies that have been carried out on these concepts but the research that I have conducted has left me with no doubt that there the concepts that I have written about are valid and have at least some impact on the art market.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications

The Spectacle of the Art Market Part 3 – artmarketblog.com

Natalya Goncharova's Linen

I am sure that many of you would agree that it has become the norm for people to approach fine art as consumers instead of as scholars or connoisseurs. If you were to ask me whether there is anything wrong with this I would say that there definitely is. Don’t get me wrong, I am obviously a strong supporter of the art market, but also recognise the need for a balance between the commercial and the cultural. Without that balance the art market becomes unstable and the art world becomes too closely connected to the art market. Whether you realise it or not, the art market requires a certain level of “infiltration” by scholars and connoisseurs. It is the scholars and connoisseurs who add value to works of art by generating information and knowledge that make works of art historically and culturally more significant. It is this information that is generated by scholars and connoisseurs that we should be using to justify the dollar value of a work of art because this information is usually based on intrinsic characteristics of the work of art that cannot be disassociated from the work of art or become obsolete, and therefore encourage more stable long term values. The contemporary art market, on the other hand, often relies on factors that have very little to do with the work of art its self such as social status, economic status, popular trends and financial gain. These factors can become obsolete very quickly which usually means that the dollar value that these factors generated also disappears causing the sort of correction that we have just experienced.

In February of 2008 Nicholas Penny, the curator of the British National Gallery, made a statement that he was going to put an end to the gallery’s blockbuster exhibition days. According to an article in the Guardian Newspaper, Penny said “The responsibility of a major gallery is to show people something they haven’t seen before. A major national institution should be one that proves a constant attraction to the public. What is important is encouraging historical and visual curiosity in the general public.” Ralph T. Coe, the former director of the Nelson Gallery-Atkins Museum in Kansas City, Mo., a former president of the American Association of Art Museum Directors and a former chairman of the Museum Committee of the National Endowment for the Arts, put the problem in even simpler terms when he said: “One of the saddest things museum connoisseurs like me have had to observe is the substitution of entertainment values for the intrinsic values incarnate in great works of art that alone can confer aesthetic authenticity.” This problem of the substitution of entertainment values (the spectacle) for intrinsic values that the cultural sector is experiencing is also a big problem for the art market as I have shown above. We need to stop the spectacularisation of the contemporary art market if we want to have a more culturally and historically significant period of art production. I believe that we need to be asking the following question on a far more regular basis: in one hundred years time will this work be able to be exhibited in a museum, and will people consider the work to be culturally significant and be historically important?

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications

Saffronart’s Winter Online Auction 2009

Modern and Contemporary Indian Art

December 9-10, 2009

· 100 works of art by 51 Modern and Contemporary Indian artists with a total low to high estimate of approximately Rs. 15 crores (US$ 3.2 million) to Rs. 19.4 crores (US$ 4.2 million)

· Attractively estimated works by renowned modernists and popular contemporary artists, of exceptional provenance and quality

· Auction highlights include important modern works by Manjit Bawa, F.N. Souza, S.H. Raza, Akbar Padamsee, Tyeb Mehta and Jagdish Swaminathan

· Prominent contemporary artists featured in the sale include Subodh Gupta, Anju Dodiya, Raqib Shaw and Jagannath Panda

Mumbai, November 27, 2009: Saffronart, India’s leading auction house for Modern and Contemporary Indian Art, will host its annual Winter Online Art Auction on December 9-10, 2009. Presenting 100 lots of exceptional quality and provenance by 51 leading modern and contemporary Indian artists, the sale will take place online at www.saffronart.com.

The auction catalogue includes paintings, drawings and sculptures by celebrated modern artists Manjit Bawa, F.N. Souza, S.H. Raza, Akbar Padamsee, Tyeb Mehta and Jagdish Swaminathan among others. Notable contemporary artists in the sale are Subodh Gupta, Anju Dodiya, Raqib Shaw and Jagannath Panda among others. With a strong focus on aesthetically significant works, this sale promises to generate great interest and demand from collectors across the globe.

Featured on the front cover of the catalogue, is an untitled canvas of epic proportions by Manjit Bawa. The artist’s men, women, gods and animals, suspended wondrously in colourful space, are rendered with a simple fluidity that borders on the abstract. Rather than brushstroke and texture, Bawa relies on chiaroscuro and subtle shading to deliver depth to his canvases; and rather than developing a narrative, the artist focuses on perfecting form by paring it down to its most basic essence. Together, these characteristics give the artist’s paintings an arresting luminosity, and his characters a dreamlike presence.

Another important lot is Jagdish Swaminathan’s untitled canvas from 1975, which was formerly in the collection of World Bank director William Diamond. Swaminathan, in his quest for this new modernist ‘Indian’ vocabulary, turned to the local, exploring not only the folk art of varied regions, but also the historically significant miniature traditions of North-Western India. The Bird, Tree, Mountain series of canvases, to which this lot belongs, stands testimony to his attempts at instituting a new idiom for modern Indian art, and is inspired by both the simplicity of Indian folk art, and the intensity of Indian miniatures.

Among the contemporary lots on offer, Subodh Gupta’s 2005 untitled work, a shimmering theatre of polished stainless steel pots and pans, is featured on the back cover of the catalogue. Gupta’s main concerns have been subjective value and material production and consumption. In charting and presenting India’s unique developmental path, the artist creatively draws attention to the present interdigitation of tradition and modernity in the country, and the distinct social realities that emerge from this interface. In doing so, Gupta effectively communicates the impossibility of capturing the intricacies of the developing world through a developed world lens.

Featuring for the first time at a Saffronart auction is Raqib Shaw, whose work has been celebrated in prestigious solo exhibitions at the Metropolitan Museum of Art in New York and the Tate Britain in London. Drawing from various disciplines including literature, zoology and art history, Raqib Shaw’s body of work is a dizzying amalgamation of influences, including the work of old Masters like Bosch, Holbein and Piranesi, Mughal miniatures, the Romantic works of Wordsworth, Byron and Coleridge, Japanese decorative arts, Kashmiri shawls, and various specimens and images drawn from natural history museums, medical journals and popular culture, to name only a few.

Speaking about the auction, Dinesh Vazirani, CEO and Co-founder of Saffronart said, “The success of our recent auctions has proved that collectors around the globe continue to show great demand for rare and exceptional works with impressive quality and impeccable provenance, which this auction offers. Strong results, record prices, and increased international interest illustrate that there is renewed strength in the market as a whole. It is on this positive note that we look forward to strong interest in this auction.”

The total lower and higher estimates for this auction are Rs. 15 crores (US$ 3.2 million) and Rs. 19.4 crores (US$ 4.2 million) respectively. The sale will be accompanied by an illustrated print catalogue, also available online at www.saffronart.com, and preview events at Saffronart’s gallery spaces in Mumbai and New York.

Highlights from Saffronart’s Winter Online Auction 2009:

Manjit Bawa
Untitled
Rs. 70,00,000 – 90,00,000
$ 152,175 – 195,655

F.N. Souza
Mr. Sebastian (1956)
Rs. 55,20,000 – 82,80,000
$ 120,000 – 180,000

Subodh Gupta
Untitled (2005)
Rs. 70,00,000 – 90,00,000
$ 152,175 – 195,655

Akbar Padamsee
Untitled (2007)
Rs. 45,00,000 – 55,00,000
$ 97,830 – 119,570

About Saffronart

A global company with deep Indian roots, Saffronart was founded in 2000 on the strength of a private passion. Remaining committed to this passion and personal values, today Saffronart is a strong and successful international business that both embraces and drives change.

A pioneer of online art auctions, Saffronart has set global pricing benchmarks and transformed the landscape of Modern and Contemporary Indian Art, making it accessible to connoisseurs and collectors around the world. Its robust online auction platform and secure technology offers a personal, intuitive and effortless bidding and buying experience for clients.

With its online presence, and offices in Mumbai, New York and London, Saffronart has broadened and simplified access to Indian art and jewelry. Responding to the needs of today’s collectors, Saffronart also offers services such as art advisory, private sales, appraisals and valuations, and specialized art storage.

For further details on the auction, please contact:

India: Punya Nagpal, Nishad Avari or Dhanashree Waikar

Tel: (91 22) 2432 2898 / 2436 4113 or Email: auction@saffronart.com

USA: Anu Nanavati Chaddha

Tel: (212) 627 5006 or Email: newyork@saffronart.com

UK: Abha Housego

Tel: 44 (0) 20 7409 7974 or Email: london@saffronart.com

Media Contact: Malika Bhavnani, CMCG India Pvt. Ltd.

Tel: (91-22) 24450991/2/3, (91) 9820496099 or malika.bhavnani@cmcgindia.com

The Spectacle of the Art Market Pt. 2 – artmarketblog.com

If you read my last post (which is the introduction to this post) then you may be asking yourself whether art market trends can really be dictated to a certain extent by such a simple and primitive human instinct.  The evidence that I have come across suggests that it can.  In fact, a recent study linked the human attraction to shiny objects with a primitively instinctual attraction to, and desire for, sources of water.  I would would like to believe that my decision to purchase a work of art is primarily based on some highly complicated thought process or a  highly developed taste for art and sense of style, and not on some primite instinct that we really don’t understand or have any control over.  But we are all only human after all.  And humans are highly complex and emotional creatures who are susceptible to those emotions that make us human.  When you think about it, it is really not that bizarre to suggest that art market trends can be dictated by an instinctually emotion judgement as opposed to a complex process of reasoning.

Charles Saatchi is the undoubtedly the quintessential purveyor of shiny objects and is known to be particularly fond of highly visual, high impact works of art such as those produced by Jeff Koons and Damien Hirst who are both products of the Saatchi empire. Therefore, if I was going to use anyone as an example of the human attraction to bright,  shiny works of art then it would have to be Saatchi.  Interesting, it is a well known fact that Charles Saatchi is NOT so keen on photography or video art.  Why is this interesting I hear you ask? Well,  of all the different mediums that come under the banner of art it would have to be photography and film that are the least likely to incorporate the bright and shiny elements that are present in the type of works that I have been referring to.  Bright colours and shiny elements are usually absent from video and photographic works of art thus making these two mediums less likely to evoke that instinctual attraction that humans have to bright and shiny objects.  Video art in particular is a medium that cannot rely on high impact, instantly attractive elements to engage viewers.  To appreciate and interact with a work of video art usually requires that the viewer to spend a considerable amount of time watching the video and thinking about what is happening.

When it comes to the impact that instinct and emotion can have on the art market it is interesting to compare the current art market buying trends with the state of the global financial sector.  As I said in my last post,  one of the interesting trends that has been particularly noticable during the recent current art market correction is that works that have less visual impact and are not as flamboyant are experiencing competitive bidding and high prices.  This trend is the opposite to the popularity of high impact, bright and shiny works of art that was evident during the playful and heady days of the art market boom when the global economic outlook was far more positive.  Just a coincidence?  I don’t think it is.  To me it would make sense that people would purchase works of art that coincide with their state of mind and the emotions produced by the circumstance that they are in at the time.

There have been studies that show that different types of perfume are purchased according to the state of the economy.  A recent article featured in the Financial Times ‘How to Spend it’ magazine mentioned  that “floral fragrances – the safest, least challenging perfume category – have historically flourished in a recession”.  In his book ‘Why Yesterday Tells of Tomorrow: How the long waves of the economy help us determine tomorrows trends’ of 2001, Helmut Gaus used womens fashion trends as an example of anxiety and functional anxiety-driven behaviour.  According to the statistics compiled by Gaus, during periods of high anxiety women wear fewer patterns, darker colours, clothes with lower necklines and skirts that are longer.  During periods of less anxiety women wear more patterns, brighter colours, clothes with higher necklines and skirts that are shorter.  From these two sets of data it seems that during periods of high anxiety the less complicated, less flamboyant and less colourful become more popular and the reverse during periods of less anxiety when times are good.  I see no reason why the art market shouldn’t experience a similar trend.

to be continued……….

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications

The Spectacle of the Art Market Pt. 1 – artmarketblog.com

One of the interesting trends that has been particularly noticable during the recent current art market correction is that works that have less visual impact and are not as flamboyant are experiencing competitive bidding and high prices. Works of art that would perhaps have been overshadowed by their more visually stunning siblings are now coming to the forefront as collectors and connoisseurs approach what is on offer from a more scholarly, connoisseurial and art historical perspective. I also believe that the more sombre mood caused by the financial crisis has made people less likely to purchase overtly cheerful works of art and more likely to obtain objects that reflect the more philosophical and reflective mood that many people are currently experiencing.

When the global economy has gone to the dogs, and a large number of people are in a financially difficult position, the purchase of those shiny works of art that are typically seen as status symbols and flamboyantly excessive trophies of one’s wealth just doesn’t seem right. One may expect the opposite situation to arise where people purchase bright and cheerful works of art to make themselves happier, but this just doesn’t seem to be what happens. It seems that it is extremely difficult to justify the purchase of one of many of these “bright and shiny” trophies when one’s financial situation comes into question, which suggests that the purchase of such a work would be a bad investment (as we know so many of them are).

The contemporary art market tends to rely on immediate visual impact and instant gratification to entice people to get out their wallets. With so many artists vying for the attention and patronage of a relatively small number of collectors and investors it is not surprising that the visual impact and attractiveness of an artist’s work becomes such an important factor. The Frieze art fair is a good example of the way an artist’s work looks can have a major effect on its ability to get noticed. Not unlike a supermarket, the Frieze art fair is filled with aisle after aisle of products vying for the attention of the waves of shoppers that pass by. The dizzying array of goods on offer means that it is very easy for a particular atist’s work to get lost in the crowd. And many do. In such an environment it is undoubtedly beneficial for an artist to present their most high impact and visually stunning work as anyone who has visited a fair such as Frieze would know.

To suggest that the path that the art market can be affected to such a degree by the instinctual human attraction to bright shiny objects may sound bizarre at first but if you take some time to ponder the concept I think you will find it is not as silly as it may seem.

To be continued……….

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications

Christmas Gifts for Art Lovers 09 – artmarketblog.com

Limited Edition Photo by Youngsuk Suh from Humble Arts

Limited edition print from Humble Arts
Youngsuk Suh
Boating, Idaho, 2009, from Instant Traveler
Archival Pigment Print on Rag Paper, 16 x 20 in.
Signed and numbered, Special Edition of 3
$375
Buy Here: http://hafny.org/editions/youngsuk-suh-limited-edition-print/

The Great Contemporary Art Bubble DVD by Ben Lewis
Art critic and film-maker Ben Lewis spent 2008 following the contemporary art market; travelling to art fairs, auctions, museums and the offices and homes of billionaire art collectors. He spoke to dealers, auctioneers, gallery-owners, art market analysts and art collectors trying to find out the reasons behind the greatest rise in the value of art in history.
Buy Here: http://www.benlewis.tv/?cat=22

Adopt a painting with the Fine Art Adoption Network
FAAN is an online network, which uses a gift economy to connect artists and potential collectors. All of the artworks on view are available for adoption. This means acquiring an artwork without purchasing it, through an arrangement between the artist and collector.
More info here: http://www.fineartadoption.net/

John Baldessari edition from Parkett Art
Edition for Parkett 86
Raised Eyebrows / Furrowed Foreheads: Crooked Made Straight, 2009
9-color silkscreen print (front and back) on Plexiglas, 5 x 12 x 1/8″ (12,5 x 31 x 0,4 cm), printed by Atelier für Siebdruck, Lorenz Boegli, Zurich, Ed. 45/XX, signed and numbered certificate
$ 2400.00
Euro 1700.00
Buy Here: http://www.parkettart.com/qwr/edition_info2.php3?edition_nr=198

Baldessari Print

Teacup by Robert Lazzarini
Designed to be viewed from all angles, Teacup becomes a visual anomaly placed among everyday items, evoking a melancholic, otherworldly quality. Although challenging to drink from, it can be used.
$250.00
$200.00 Members
Buy here: http://www.momastore.org/museum/moma/ProductDisplay_Teacup_10451_10001_62512_-1_11595_11595__feature

Gift membership for The Fine Art Fund (UK)
Art Fund membership is the perfect present for an art-lover. With benefits including 50% off tickets to exhibitions as well as free entry to over 200 fascinating art collections, historic houses and beautiful gardens, you’ll be giving the gift of hundreds of enjoyable days out.
Single membership: 33 pounds
buy here: https://www.artfund.org/join/join_gift_membership.html?recipient=gift&intro=submit

Limited Edition t-shirt from Common Threads
THE BEST $38+ YOU EVER SPENT ON T-SHIRTS FOR A PRESENT!
Looking for a great present idea? Look no further! We have a very unique, cool and unusual gifts for you to give to loved ones. A tremendous amount of care goes into each t-shirt, rendering unique hemlines, detailed stitching, and precise cuts and a unique birthday gift for him or her. All our products are garment washed, yielding super-soft fabrics with a vintage feel. Our lightweight, fine gauge and innovative fabrications are combined with sleek, modern silhouettes, and the result is a collection of apparel as unique as the individuals wearing them. In addition, all of our designs are donated from leading artists and we print only 250 of each design. Given the fact that we give a school uniform to a child in need as well, it’s $38 well spent.
Buy Here:
http://www.commonthreadz.org/shop/index.php

Art and Auction magazine subscription
Subscribe to Art and Auction magazine and give a gift subsctiption free or treat yourself to two years for the price of one,
simply fill-in your name and address twice.
$79.97
Buy here: http://www.artinfo.com/artandauction/

Childrens Felt Wall Clock from etsy
Beautiful, stylish and trendy felt clock for Child’s Bedroom or Nursery Wall designed to give kids another fun point of interest in their rooms.
The color of your choice.
Handcrafted, made of felt and measures 9.5-inch diam.
Requires 1 AA battery
$42.00
Buy here: http://www.etsy.com/view_listing.php?listing_id=31865886

Gold and Tourmaline Ring by B. Weckstrom for Lapponia,1974

Limited Edition Photo from Troika Editions
The artworks on this site are our recommendations and they are not available anywhere else. Every artwork will be offered in the same three sizes, small, medium and large; in the same three edition runs of 300, 30 and 3; at the same price points £35, £350 and £3500. All you have to do is decide which one you like.
Buy Here: http://www.troikaeditions.co.uk/photographs

Artist iPhone Skin from Infectious
Paulo explains about his Firefox artwork: “the organic forms express interaction and connection. The hairy, fox-like elements are symbolic of nature’s speed. The hands and feet convey the need to reach everywhere and the eyes are like mirrors that reflect the global interaction, being in one place but connected to anywhere”.
iPhone Skins
$14.99
Buy Here: http://www.infectious.com/iphone-skins/YUPpauloarraiano/intotheforest/910

Wearable Art from 1stdibs.com and

Finland c1970
Price: $1,850
Buy Here: http://jewelry.1stdibs.com/jewelry_item_detail.php?id=3721

Art:21 – Art in the Twenty First Century 5 (Hardcover)
Mirroring the unique strengths of the Peabody Award winning television series broadcast on PBS, Art:21 Art in the Twenty-First Century 5 presents 14 contemporary artists speaking directly and in their own words. The artists’ reflections on their processes and inspirations are juxtaposed dynamically with lush, full-color images of their work. The book also includes an introductory essay by Susan Sollins as well as artist biographies and production stills from the series. The artists featured, include Cao Fei, Mary Heilmann, Jeff Koons, Florian Maier-Aichen, William Kentridge, Doris Salcedo, Carrie Mae Weems, John Baldessari, Kimsooja, Allan McCollum, Julie Mehretu, Paul McCarthy, Cindy Sherman, and Yinka Shonibare MBE.
$36.52
Buy Here: http://www.amazon.com/Art-21-Twenty-First-Century/dp/0615308368

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications

Greek Art Reaches Giddy Heights at Bonhams – artmarketblog.com

Lot No: 23 Spyros Papaloukas (Greek, 1892-1957) Mt. Athos, skete of the Three Hierarchs and the Holy Trinity signed in Greek (lower right) oil on cardboard 54 x 50 cm. Sold for £168,000 inclusive of Buyer's Premium

Bonhams UK have been promoting themselves as the gods of Greek art for quite a while now and have claimed market dominance in the UK when it comes to selling Greek art on more than one occasion.  I am not entirely sure what brought about Bonhams’ fascination with Greek art, but whoever is responsible for the assault on this region should be congratulated for what has proven to be, and continues to be, a shrewd move for Bonhams.  Bonham’s most recent sale of Greek art held on the 10^th of November was a good indication that the market for Greek art is extremely buoyant and also that Bonhams continue to maintain a dominant position in what is a competitive niche.  A total of £3.5 million worth of art was sold and a number of significant prices were achieved including:

- Spyros Papaloukas (Greek, 1892-1957) ‘Mt. Athos, skete of the Three Hierarchs and the Holy Trinity’ which sold for £168,000 (auction record for artist) inclusive of Buyer’s Premium

- Constantinos Maleas (Greek, 1879-1928) ‘Acropolis / Acropole vue entre des pins et aloès’ which sold for £311,200 (2^nd highest price achieved at auction for artist) inclusive of Buyer’s Premium

-Nikos Hadjikyriakos-Ghika (Greek, 1906-1994) ‘Calligraphy of a town’ which sold for £264,000 (3^rd highest price achieved at auction for artist) inclusive of Buyer’s Premium

As a side note I am hesitant to refer to 2^nd and 3^rd highest auction prices for an artist as ‘world records’ as Bonhams have done and consider the practice of doing so to be dishonest.  Is the 20^th highest auction price for an artist a world record too?  Bonhams went as far as to list the fifth highest auction price for an artist as a ‘world record’ which I think is rather cheeky. Anyway, back to the action.

Bohnams have a good record with the Greek art auctions that are held in the UK. In November of 2008, Bonhams’ sale of Greek art held at their Bond St. Saleroom brought in a total of 3.8 million pounds and resulted in fourteen artists’ auction records being broken.  According to Bonhams, a large majority of the buyers were Greek.  Moving on to May 2008 and once again Bonhams made headlines with their Greek art sale when they managed to shift 3.6 million pounds worth of art with and sell a record 90% lots offered.  Bonhams also reported 17 new world record prices which, as per above, should be taken with a grain of salt.

The Greek art market is quite unique because of the history of Greek art which basically revolved around the creation of religious icons until the start of the 19^th century due to the fact that Greece was essentially shielded from the Renaissance by the ruling Ottoman empire .  “Modern” art is therefore a relatively new concept to the Greeks and represented a relatively untapped market that the three major auction houses were quick to take advantage of.  There are several reasons that the opportunity to dominate the market for Greek art became available to an organisation outside of Greece.   The main reason is that  much like the Indian art market, the Greek art market is relatively un-regulated and there is also a severe lack of infrastructure relating to authenticity, valuation and art market expertise that would be required to support the development of a free market in Greece.  An opportunity was therfore available to an international organisation that could supply what the Greek art market lacked and to satisfy the needs of those rich Greeks who have a passion for art.

Although the market for Greek art has proven to be very strong even during the recent financial crisis, investors and collectors should be extremely wary of the hype surrounding Greek art and should be extremely cautious with their purchases.  My reason for suggesting caution is that the Greek art world lacks the cultural sector infrastructure that is so important to the long term stability of an art market and the buoyancy of the prices being paid for the work of that market’s artists.  The contemporary Indian art market has suffered during the financial crisis due to the same lack of infrastructure that the Greek art market suffers from.  Greek art, especially the work of contemporary artists, has plenty of potential for investors but is also fraught with potential traps and problems that could have a major effect on the price of the work of many artists.

Although Bonham’s quip that “Interest in Greek art is more than just a myth at Bonhams 15th Greek Sale” does ring true, the market for Greek art is in it’s infancy and is at a relatively high risk of becoming a very fragile bubble that could easily be burst.  Investors and collectors should be particularly concerned about authenticity and future value until a more advanced cultural and market infrastructure is in place.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications

I have been keeping you all in suspense for quite a while in relation to the big new project I have been working on over the last year. Finally I can announce the details of the project which you can see below:

For Immediate Release

Web-Based Fine and Decorative Arts Personal Shopper Service Goes Live at NicForrest.com

Sourcing Items of Fine and Decorative Art Made Easy with Launch of Innovative Global Online Personal Shopper Service for Discerning Interior Decorators

London, November 6, 2009 — NicForrest.com is the home of a new global web-based fine and decorative arts personal shopper service that provides discerning interior decorators and designers with a simple and effective solution to the difficulties associated with sourcing specific items of fine and decorative art.  The often frustrating task of locating hard-to-find interior pieces can now become an enjoyable experience, with access to the expertise and extensive global network of Nicholas Forrest — a Sydney and London based broker of fine objects, interior style consultant and world renowned art adviser/art critic — now one click away.

Nic adds: “By launching NicForrest.com I am able to offer personal one-on-one assistance to anyone, anywhere in the world who wishes to be united with those special objects that transform interior spaces into special places.  From interior designers who require a collection of fine objects to decorate a large commercial space, to discerning private clients who are searching for one or more special items to enhance a living space, NicForrest.com can cater to the needs of clients at all levels.”

As well as sourcing fine objects, Nic also offers several other services via NicForrest.com.  The range of services Nic provides includes:

-  Sourcing and purchasing specific fine objects (fine art, antiques, objects of design, objets d’art etc.) for residential and commercial clients

-  Arranging worldwide transportation and installation of objects purchased

-  Interior styling advice for clients who have a vision and a budget but do not have specific objects in mind

-  Advice on the acquisition of works of art/antiques/objets d’art for private and corporate collections as well as for investment purposes

Whether it is an antique or a piece of contemporary design that someone is searching for , NicForrest.com combines the services of a personal shopper with the knowledge and contacts of a professional broker of fine objects to provide an unrivalled service.  Nic explains:  “Because of the experience, knowledge and contacts I have acquired, and my standing in the art and antiques industry, I have the privilege of being in a position that enables me to utilise a global network of dealers, collectors, retailers and wholesalers to quickly locate the particular object/s that clients have been searching for at the best price.”

For further information, please contact:
Nic Forrest

Owner, NicForrest.com
Tel:  0787 869 7651 (UK)

Tel: +44 (0)787 869 7651 (INTL.)
Email:  nic@nicforrest.com
Site:  http://www.nicforrest.com

LinkedIn: http://www.linkedin.com/in/nicholasforrest

###

About Nic:

Nic Forrest is a Sydney/London based professional broker of fine objects, interior style consultant and art adviser.  As well as being the founder and author of artmarketblog.com, Nic has been published in many magazines and newspapers and has appeared on several radio programs (national and international) as an art market expert.  He has also been invited to be a guest lecturer at the Sotheby’s institute in Singapore for their MA Art Business program.

Zoo Art Fair 09 Fails to Deliver – artmarketblog.com

This year’s Zoo art fair was a rather interesting event primarily because of the new venue which consisted of several disused Victorian warehouse buildings in London’s east end that were divided into three sections (Zones A, B and C). Unfortunately (in my opinion) Zoo were kicked out of their usual venue at the Royal Academy of Arts after London gallery Haunch of Venison leased the space. Zoo weren’t entirely to blame for the circumstances that they found themselves in and as much as I would like to say that they triumphed over adversity, they didn’t. It was obvious that Zoo were attempting to make the most of the venue and give an edgy feeling to the fair by taking on what Zoo called an “adapted structure”, but it ended up feeling and looking much more like a last resort structure. Another major hurdle that Zoo had to come up against was the reduction in the number applications to exhibit from commercial galleries which they remedied with the introduction of non-commercial curated exhibits. Having a mix of commercial and non-commercial exhibits was really the only solution that Zoo could have adopted so I don’t think that they deserve kudos for coming up with this idea. The inclusion of non-commercial curated exhibits was, never the less, a solution that worked.

When I arrived at the fair I was immediately reminded of the 2008 Sydney Biennale which used a bunch of disused prison and shipyard buildings (see here: http://www.bos2008.com/app/biennale/venue/3) on a small island on Sydney harbour as one of the venues. The difference is that the Sydney Biennale used the derelict spaces to great effect and matched the art to the spaces incredibly well, which made for an amazing experience that gave the impression that the art was part of the site. Perhaps my perception of Zoo was somewhat skewed by the awesome experience I had with the Sydney Biennale but I still think I would have been disappointed with Zoo regardless of whether I had attended the Sydney Biennale or not.

One of my biggest gripes is that were virtually name tags on the walls or any other sort of signage to identify who the works were by. Whether this was an attempt to make the art and the buildings feel more like one entity I do not know, but it ended up being just plain annoying and in no way encouraged people to buy anything. Another major issue I had with the fair was the poor layout of the film section which was located in Zone B. The films on show were relatively long which the cold and lack of seating made virtually impossible to view in their entirety without getting sore legs or risking frost bite. To be honest it wasn’t the venue that made Zoo a failure, it was the way the show was put together and executed. Zoo could have presented a great fair had they utilised the space to greater effect and put a bit more thought into the presentation of the art as well as a bit more effort into making the experience more comfortable for visitors.

The one saving grace for Zoo was the small number of artists whose work was absolutely phenomenal and worth braving the cold to see. My next post will profile the artists that I believe made Zoo worth visiting.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications

Contemporary Art Bubble on DVD – artmarketblog.com

Since I wrote a post on the fantastic film ‘The Great Contemporary Art Bubble’ by art critic Ben Lewis in which Ben investigates the surprising boom in the worldwide contemporary art market, many people  have emailed me asking where they can see the film. I am pleased to be able to inform all those people and anyone else interested in seeing the film that you can now purchase a 90 minute extended version of the documentary from Ben Lewis’s website for 14.99 pounds (€17.00 or US$24.00 each) plus £2.00 postage and packing in the UK and €4 for Europe and $5 for the USA, Australia and other territories. Payment is via Paypal, though you can pay with all major credit cards too. Please note these DVDs are PAL Region 2.

To purchase a copy of the film head to Ben’s website which you will fine here:

http://www.benlewis.tv/?cat=22

I have my copy so go and get yours now !!

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications

Frieze Art Fair 09 Review – artmarketblog.com

'The Couple' by Louise Bourgeois

Over the last month or so I have attented twelve art and antique fairs in London which have left me with plenty to write about and the need for a few days rest. Although the fairs themselves were frought with issues the general mood was positive and the outlook optimistic. Dealers have reported good sales in most cases and seem to be in a very optimistic frame of mind as the market continues to pick up. The biggest fair I attended was the Frieze Art Fair which is one of the most important contemporary art events in the UK if not the world. Although one cannot help but be impressed by the glitz and glamour of the Frieze art fair it was just not an enjoyable experience for me. To start with, the marquee was really hot which made just being at the fair physically unpleasant, but the real problem with Frieze is that it is too much like a supermarket. When visiting a supermarket one tends to only take notice of the brands they are familiar with or the products that are the most visually striking due to the sheer number of different brands and products available. The same goes for Frieze where all but the works of the most recognizable artists and the most flamboyant works of art get lost in the crowd. I came away from the fair with memories of works by artists whose work is instantly recognisable and distinguishable such as Damien Hirst, Yayoi Kusama, Richard Prince, Jeff Koons, Cy Twombly, Andy Warhol, Richard Serra, Takashi Murakami etc. I also have memories of other works by emerging artists that stood out of the crowd, but am unable to remember who they were because of the number of names and images swirling round in my head. Funnily enough, it was the big, bold works by the emerging artists that are reported to have experienced the highest level of success.

On a more positive note, quality was consistently high and sales are reported to have been considerably higher than last year. However, it is important to remember that a positive spin can be put on anything and that the likelihood of this years fair being any worse than last year was very slim. As far as figures go, sales of works priced at under 100,000 pounds were the most prevalent as one would expect with a show geared towards the work of emerging artists. Sales of works in the five figure range are reported to have been particularly strong which is pretty much the same trend reported by dealers at the 2008 fair. Six figure sales were few and far between, which is to be expected with a fair geared towards emerging artists and seven figure sales were even more scarce. There were, however, at least a few big ticket sales that are worth mentioning such as:

-A Louise Bourgeois sculpture titled ‘The Couple’ which was sold by Hauser and Wirth Gallery for US$3.5 million (about 2,150,000 pounds)
-Ruscha’s ‘A Riot of Atom’ which was sold by Gagosian Gallery for US$1.5 (about 900,000 pounds)
-A David Hammons installation which was sold by Salon 94 for US$1.5m (about 900,000 pounds)
-A Neo Rauch painting from 2002 titled ‘Harmlos’ which was sold by David Zwirner US$1.0m (about 610,000 pounds)

I honestly think that the biggest difference between this year’s fair an last year’s fair is that the dealers were in a better position to cater to the current market climate and have had the time to adapt their strategies to the buying trends. Dealers reported that buyers are still being cautious and are taking their time to make decisions which is, once again, similar to reports from last years fair. The market for contemporary art is not really in that much of a better position than it was last year but dealers have had more time to adapt to the conditions and make the best of a bad situation. One can take comfort in the fact that things haven’t got worse and that there is still money out there to be spent on contemporary art. There are undoubtedly signs that the market for contemporary art is poised to make a more speedy recovery than people thought which is somwhat of a scary thought.

The Zoo Art Fair was a completely different story but you will have to wait until my next post for more info.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications

Sir Francis Barry – The Forgotten British Master – artmarketblog.com

Victoire Feux d'Artifices, Moscow by Francis Barry

One of the things that excites me more than anything else is discovering an artist who has not yet received the recognition that they deserve and having the opportunity to help that artist achieve the success that their work is worthy of receiving. Usually these artists are emerging contemporary artists who are just beginning their career as professional artists but I was recently introduced to the work of an artist who has been dead for almost 40 years – an artist who is essentially a forgotten master. The artist in question is the prodigious Sir Claude Francis Barry R.B.A, a British painter and etcher born in 1883 who produced a varied body of work that appears to be have been influenced most strongly by Fauvism and Neo-Impressionism (also known as pointillism), but also exhibited characteristics reminiscent of the work of the Vorticists (British branch of Futurism) and Art Nouveauists.

At this point I presume you may be wondering why, if Barry was such a fantastic artist, he did not experience the fame that he deserved. The answer is rather simple: he didn’t need it. You see, Barry was born into a wealthy family and did not need to become famous and command large sums for his work in order to put food on the table. Very little is known about Barry’s life but what is known is rather intriguing from the family squabbles to the tutelage he received from Sir Alfred East RA and Frank Brangwyn. Considering that what is known about Barry’s life is so compelling it is unusual that he was not more well known than he was for his high-society high jinx. I won’t provide details about his life just yet but will reveal more in future posts.

Carcassonne by Francis Barry

The auction record for a work by Barry is £81,600 IBP (US$143,616) against an estimate of £10,000 – £15,000 ($17,600 – $26,400) achieved for his epic painting ‘Victoire Feux d’Artifices, Moscow’ which was sold by Sotheby’s in October 2005. Works by Barry rarely come on to the market but when they do the success of the sale depends on whether any of the small number of people who know of Barry’s work are aware of the sale and are able to bid on the work in question. A stoush between two rival Barry officianados can raise the auction sale price of one of his works as is evident with the sale of ‘Victoire Feux d’Artifices, Moscow’ but sometimes his works appear at auction and are sold for a very small amount.

There is no doubt in my mind that Barry was a prodigious artist who, due to a number of factors, simply fell through the cracks of the art world and I am extremely excited to be able to be involved in the long overdue recognition and promotion of his work. You will be hearing lots more about Barry from me in the very near future so stay tuned. If you want further details please email me.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications

Indian Classical Art Set to Soar – artmarketblog.com

I am really looking forward to seeing the new “Maharaja: the Splendour of India’s Royal Courts” exhibition which will be opening at the Victoria and Albert museum in London on the 10th of October. According to the V&A website “The heyday of the maharajas began in earnest after the collapse of the Mughal empire in the early 18th century. The exhibition will open with this period of chaos and adventure and will close at the end of British rule in 1947, when Indian princes acceded their territories into the modern states of India and Pakistan.”

Although it may not seem that exciting, this exhibition is a very important exhibition in my opinion because of the extent to which historic Indian works of art are undervalued. One of the reasons for this is the lack of cultural sector infrastructure in India which means that there is relatively little scholarly or curatorial attention paid to the works of the 18th and 19th centuries. In particular, the work of 18th century Indian artists is particularly impressive and is very highly valued because of the significant events that happened at this time that were important to the history of India. With so many wealthy people in India who are becoming more interested in fine art and cultural objects, I believe that it is inevitable that the value of classical works of art and other objects that have cultural and historical significant will increase in value very shortly.

Although a number of Indian billionaires have had their wealth decreased by the financial crisis (until last year India had the highest number of billionaires in Asia), there are still 24 Billionaires in India according to Forbes magazine (March 2009), which gives India the 6th highest number of Billionaires – only 4 billionaires behind China and two spots on the list. India was ahead of China in the 2008 rankings when they had 54 billionaires but is now behind them due to the financial crisis but the outlook for Indian’s economy is very good and is even tipped to overtake the Chinese economy.

In relation to the art market, I think that a comparison between China and India is very relevant. Both countries have a rich cultural history, and both countries are experiencing an increase in new wealth which has given more people the means to indulge their passion for fine art and cultural objects. The art market boom showed that a major increase in the number of wealthy people in a certain country usually results in what is essentially a buy back of that countries historic and cultural artefacts from abroad. This happened with Russia, Japan, China and is sure to happen with India.

Althought the market for contemporary Indian art has been hit particularly hard by the financial crisis combined with the lack of patronanage as well as the lack of curatorial and scholarly attention given to India’s contemporary artists, the work of the well known modern Indian masters has faired remarkably well. There is obviously still a considerable amount of wealth in India that is available to be spent but as with other art markets around the world, buyers are being much more discerning and careful with their money in light of recent events. Works of art that are seen to have cultural and historic value have the characteristics (stability and justifiable value) that buyers are looking for at the moment.

My big tip for 2010 is that Indian classical art will increase in value considerably so my advice is to take advantage of the very low prices that such works are being offered for at the moment.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications

Sotheby’s Changes to Franchise in Oz – artmarketblog.com

In what I understand is an unprecedented event, Australian auction house Bonhams and Goodman Auctioneers will ditch the Bonhams brand and relaunch as the Australian arm of Sotheby’s. According to the ACCC website, “First East Auction Holdings trading as Bonhams & Goodman proposes to acquire auction business and associated assets of Sotheby’s Australia and also obtain a licence to use the Sotheby’s trademark in Australia and New Zealand for a period of 10 years.”

Sotheby’s International has operated a branch in Australia since 1982 but will now hand over the reins to Tim Goodman, head of Bonhams and Goodman, along with a license agreement which gives Goodman the right to operate under the Sotheby’s name. Bonhams, on the other hand, will now manage their own operations in Australia instead licensing their name to another company. According to Bonhams: “Bonhams 1793 – a shareholder in the Australian company First East Auction Holdings Limited (FEAHL), which has traded for six years as Bonhams & Goodman – announced today that Bonhams 1793 will launch its own independent operation in Australia, looking to expand its presence in this important market as part of Bonhams operations in 25 countries around the world.”

At the beginning of the year there were rumours spreading that Sotheby’s would follow Christie’s and abandon Australia all together so it is a relief for the Australian art market that Sotheby’s are not jumping ship. Sotheby’s licenses their name to real estate agents through the Sotheby’s Realty brand which was purchased by Cedant Corporation in 2004 but, from what I can gather, has not licensed their name to an auction house in this way before. According to my sources, Sotheby’s is very reluctant to lend their name to anyone so is obviously very trusting of Tim Goodman and seems keen to maintain a presence in Australia.

On a less positive note Artemis Auctions, the Australia art auction house aimed at the middle market which was started at the beginning of this year, has been re-absorbed by the parent companies after poor results. Mossgreen Auctions and Deutscher and Hackett Auctions were responsible for the ambitious venture that supposed to be filling what was thought to be a gap in the lower to middle market. When artemis auctions was started at the beginning of the year I  with the statement made by the owner of the auction house, Paul Sumner, who said that the lower and middle market was under serviced. In fact, my impression was that this sector of the market was in fact over serviced; an opinion that I made clear on my Australian Art Market Blog. And I was right.  It is a shame that the business was not a success but such is life.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

20/21 British Art Fair Report – artmarketblog.com

The 20/21 British Art Fair held at the Royal College of Art building was a great event that attracted plenty of admirers (and buyers) with a wide variety of fantastic art. Sales at the fair were reported to be quite good and the atmosphere was very positive. Most of what was on offer was the work of well known British modern artists such as Ben Nicholson, Graham Sutherland, L.S.Lowry , Mary Feddon and Ivon Hitchens etc. , which would make sense considering that the market for contemporary art (21st century) has suffered so much. Perhaps the show should have been called the 20/20 British Art Fair instead of the 20/21 British Art Fair.

The Modern British market did not experience the same level of price inflation that other movements/markets experienced during the boom, and consequently did not suffer as much when the art market downturn took place. As a result, demand for top quality works by Modern British artists that are fresh to the market has remained high even though the number of works being sold at auction has dropped considerably. A major increase in demand for works by Modern British artists between 2006 and 2008 did produce a large spike in the number of works sold, but the market has since levelled out and is on a much less rapid and vertical trajectory.

Mary Fedden RA (b. 1915) ‘Bowl of Fruit’, 2008, oil on canvas, 60 x 50 cmMary Fedden RA (b. 1915) ‘Bowl of Fruit’, 2008, oil on canvas, 60 x 50 cm

The lack of an international profile combined with a primarily British clientele has somewhat limited the extent to which the Modern British market can grow. By no means are the British Modern artists any less talented or worthy of being purchased than their American or European counterparts. In fact, I would suggest that the British artists are not given anywhere near the recognition and praise that they deserve. Part of the problem is that the Modern British market is driven by discerning British collectors who are quite discreet and are generally not willing to pay any more for a work of art than they believe it is worth. A lot more visibility from collectors and buyers along with a considerably less reserved attitude to the contributions of their great Modern artists would go a long way to promoting the work of Modern British artists to a wider audience. The same enthusiasm for Modern British artists that was shown for the work of the YBA’s, for instance, is what is needed.

What has kept the market afloat is the fact that there is a high demand for top quality works which collectors are more willing to fight for and pay comparatively more for. More and more people are beginning to recognise the British Modern market as an undervalued and underappreciated market that hides relatively undiscovered talent. Once the art market recovers from the correction it will be interesting to see what happens.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Chinese Artefacts Attract Massive Prices – artmarketblog.com

Chinese famille rose bowl - Sold for $115,000 against a $300 estimate at Brunk Auctions

I don’t think that many people, except maybe the Chinese, realise how much wealth exists in China as well as other areas of Asia.  The last few weeks have produced many examples of the unjustifiably massive amounts of money that are being paid for objects of Chinese decorative art by wealthy Chinese collectors.  Take, for instance, the AU$32,000 paid for a Chinese carved wooden panel by a Chinese collector at an Australian auction which had an original estimate of AU$600.  How about the US$58,400 achieved at an iGavel.com online auction for a large modern Chinese carved celadon jade phoenix form vase against an estimate of only US$1200 -$1800 – a huge amount for what was identified by iGavel as a modern piece with no real historical or provenencial value.

Christie’s Asian Art Week produced even more astonishing results that really do make one question the motivation of the buyers, as well as their sanity.  How much disposable wealth would one have to have to pay US$1,426,500 for a Chinese Zitan stand and cover that was originally estimated to sell for between US$20,000 and $30,000.  Yes, it is a very rare object, but paying almost one and a half million dollars for it when it was valued at around one sixtieth of that amount seems ridiculous.  Almost as crazy was the US$362,000 paid for a Chinese bronze ritual food vessel that also had a US$20,000-$30,000 estimate.

Over at North Carolina USA based Brunk Auctions (http://www.brunkauctions.com/), two Chinese items fetched well over (actually massively over!!) their estimate.  The first, a small Chinese porcelain bowl (see image), went for an amazing US$115,000 against an estimate of US$300, and a Chinese vase soared to US$105,800 against a US$4000 estimate.

A VERY RARE IMPERIALLY INSCRIBED ZITAN STAND AND COVER sold by Christies for $1,426,500 against an estimate of $20,000 - 30,000

A sale price for an item at auction that massively exceeds the estimate is usually put down to an incorrect appraisal by the auction house - as long as it is an isolated incident.  The sheer number of Chinese items of decorative art that are selling for prices well above their appraised value could not be all the result of incorrect valuation or assessment.  So what is driving the market for these objects to such dizzying heights?.  I suspect that pride and status have a significant role to play.  No disrespect to Asian men, but they do tend to be very proud and do not like to be beaten.  There is also the bragging rights that paying ridiculous amounts of money for an object can bring. Yes, some of the objects being purchased are rare but not rare enough to justify the prices being paid.   I can’t help but think back to the art market boom of the late 80’s, early 90’s, when wealthy Japanese business men drove the market for Impressionist works of art into the stratosphere.   Quality was not of great concern to these Japanese buyers who were more interested in art as a status symbol than anything else.  I suspect that we are seeing a similar situation at the moment with wealthy Chinese buyers and Chinese artefacts.

China is undoubtedly a source of great wealth and appears to not have been as severely affected by the global financial crisis as the USA or England. There appears to be a large number of wealthy Chinese buyers who have enough disposable income to make completely unjustifiable and quite frankly absurd purchases. One cannot help but predict that China will continue to become an even strong force on the global market for art and fine objects in the near future. Be wary though, such wealth and careless spending is a recipe for super inflated prices.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

RIP Art World Magazine – artmarketblog.com

Is Art World Magazine the latest casualty of the financial crisis after just over two years on the racks?. According to the rumour mill it is. An email circulated by the magazine’s editorial team did not, however, provide a specific reason for the disappearance of the fine art world equivalent of Vogue magazine. According to the email, “Due to personal family reasons Steve Bush – the publisher and owner of B5 Media – is stepping back from the business and the next issue of Art World is on indefinite hold while we explore future options.” Part of the reason for the magazine’s closure may be the demise of his marriage but it would quite plausible that the financial crisis is at least partly to blame. With two separate editions, one published in the UK and the other in Australia, the closure of the magazine will have an impact on many people who will likely be out a job.

Magazines such as Art World Magazine are luxuries that are not justifiable at a time when so many people are having to tighten their belts. I would be surprised if other art world magazines aren’t forced to close as those that are still in business continue to experience a fall in ad revenue and a fall in readership. Many of the most popular art magazines have already begun slimming down. To be honest, I am not particularly a big fan of Art World Magazine, but I am a fan of Australian Aboriginal Art Magazine (http://www.aboriginalartmagazine.com/) ,which is published by the same company. I will be sad to see the only widely available magazine dedicated to Aboriginal art go because of the positive impact it had on the market for Aboriginal art.

It will be interesting to see what happens over the next six months to the other art world publications. There are more than enough different publications to go around so there are definitely a few that are dispensable. Your thoughts??

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Art Market Blog September 09 Update- artmarketblog.com

You may have noticed that it has been several weeks since I last posted on this blog so I presume that you may be wondering where I have been. Well, you will be glad to know that I have not been abducted by aliens, silenced by art industry opposers , or disappeared off the face of the earth. What I have been doing is working on a huge, secret project that I am extremely excited about, and which will be launched in a few weeks time. You may be interested to know that I am writing this post from London where I am currently residing while I work on the last stages of this project. Because London is the centre of the art, antique and interior styling world (hint,hint !!), I made the decision to get a British Ancestry Visa and temporarily relocate to London. My commitment to the Art Market Blog has not diminished in any way, but the amount of time and energy it takes to write a post every couple of days was inhibiting me from putting in the time required to meet the deadlines I had set for my new and exciting project. As soon as this new project is off the ground I will be returning to regular posts and will re-emerge from my self- imposed withdrawal from the limelight.

I will be in London for several months at least so will hopefully be able to catch up with many of the British contacts and acquaintances that up until now I have only interacted with via the internet. I do have a British mobile phone which I can be contacted on and will give to those who contact me via email.

In other news, I recently wrote an article about Turkish born artist Volkan Diyaroglu, who I have been championing for quite a while now. If you haven’t seen his work before then check out the article I wrote for Visual Art Beat magazine here:

http://www.visualartbeat.com/ISSUE3.pdf

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

The Sexist Art World in 2009 – artmarketblog.com

ONE OF SIX POSTERS BY THE GUERRILLA GIRLS IN THE BIENNALE EXHIBITION "ALWAYS A LITTLE FURTHER," CURATED BY ROSA MARTINEZ

In 1989 a group of anonymous feminist art world activists, who called themselves the Guerrilla Girls, created a poster that asked the question “Do women have to be naked to get into the Met. Museum?”. Below this question it was stated that “Less than 5% of the artists in the Modern Art sections are women, but 85% of the nudes are female”. Unfortunately, since 1989 things have not improved much at all. This poster was re-created by the Guerilla Girls for the 2005 Venice Biennale with the same image but different text. The 2005 Venice Biennale poster read “Do women have to be naked to get into the Met. Museum?” then below was “Less than 3% of the artists in the Modern Art sections are women, but 83% of the nudes are female”. See the difference?. Yes, the number of female artists in the Modern Art sections of the Metropolitan Museum of Art had actually reduced in the 15 years between the original poster, and the re-assessment of the collection conducted by the Guerrilla Girls in the fall of 2004. Not only had the percentage of works by women artists gone down but the percentage of nudes that are of females went down as well. This means that there are now more male nudes than there were which I am not sure whether to be pleased about or not.

It is quite obvious that we have a long way to go. Consider the fact that up until 1986 H.W. Janson’s famous ‘History of Art’ textbook did not include any female artists. When questioned in 1979 about the lack of female artists in his textbook, Janson said that he couldn’t find a female artist who he thought belonged in a one volume book on the history of art. As a comparison I looked through the textbook that I was required to use when I completed by Bachelor of Arts (Art History and Criticism) degree from 2001-2003. My copy of E.H.Gombrich’s ‘The Story of Art’ was printed in 1995 and has a sticker on the front of it that states that over 6,000,000 copies of the book have sold which makes it “The World’s Best Selling Art Book”. Okay, so how does the world’s best selling art book rate when it comes to recognising female artists?. I would love to be able to say that it rates well but not surprisingly it rates extremely poorly. Out of all the images in the book there was only one I could find that was by a women artists – an image of a lithograph titled ‘Need’ by Kathe Kollwitz. I haven’t had a chance to re-read the whole book to see how many female artists are featured in the book but at the present time it seems that Kathe Kollwitz is the only one.

What about the commercial sector?. Brainstormers, A New York Based art collective that aims to highlight the gross gender inequities in the contemporary New York Art, has a website called the Brain Stormers Report which provides information relating to their cause. One section of the website titled “Top 30 Offenders 2008″ has screen shots of the websites of the 30 NY commercial galleries that have the lowest percentage of female artists as of May 2008. You can take a look at the rather disappointing stats here:

http://www.brainstormersreport.net/Top30Offenders2008.html

It would be unfair to suggest that there hasn’t been any progress on the issue of gender inequality in the art world because there has. There are many museums that have increased the number of works by female artists in their collections such as the Pompidou Centre in Paris. In fact, the Pompidou Centre is currently holding a year long exhibition of works by 200 female artists from the 20th and 21st centuries. According to the director of the centre’s modern art collections, no museum has ever done this before – a fact that is disturbing to say the least. Also hopping on the female artist bandwagon is the UK’s Walker Art Gallery which is holding an exhibition titled “The Rise of Women Artists – From 16th century to present day” from the 23 October 2009 to 14 March 2010. According to the press release for the exhibition: “The exhibition traces the historical changes affecting women, looking at their status and careers as they moved to assert themselves as artists in their own right”.

Although there are institutions that do deserve to be recognised for at least making some effort to correct the imbalance, the overall rate of progress has been abysmal to say the least especially when it comes to the cultural sector. I have plenty more to say on this issue to stay tuned.

To be continued…………

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Investing in Female Artists Pt. 3 – artmarketblog.com

Frida Kahlo

Two female artists whose work I really love are Lee Krasner and Dora Maar. What is interesting about both these artists is that they were romantically involved with very famous male artists – Dora Maar with Picasso and Lee Krasner with Jackson Pollock. There is no doubt that the early progression of the careers of both these artists was aided by their association with a famous male artist, but did it prove to be a positive move for their career in the long run?. Although their early careers benefited from their relationships with famous male artists, it now seems that both artists are unable to disassociate themselves from these relationships, and are destined to remain in the shadow of their partners forever. Instead of being known as individual artists of great talent, their relationships have basically ended up defining their place in art history. It is impossible to know whether the careers of either Maar or Krasner would have progressed as far as they did without help from their famous lovers but what I am sure of is that their romantic affiliations are currently hindering the progression of their status in the art world. For Krasner and Maar it seems as though it really was a case of you’re damned if you do and you’re damned if you don’t.

One of the only cases where a famous female artist in a relationship with a famous male artist has ended up achieving higher prices than their male partner is the case of Frieda Kahlo and Diego Rivera. The auction record for a work by Kahlo is US$5.6-million, which was achieved by “Roots” in 2006, whereas the auction record for a work by Rivera is US$3.08-million, which was achieved by “Baile en Tehuantepec” in 1995. It was not until after her death that Frieda Kahlo began to be known as an independent artist and not just as the wife of Diego Rivera. Prior to her death, and for several decades after her death, Kahlo was as much in the shadow of her male partner as Maar and Krasner were. Various events in the 1980’s were responsible for Kahlo’s work beginning to receive the recognition and attention that it deserved. The progress of Kahlo’s status has continued to the point where she has actually surpassed the status of her male partner. Some of the recognition for the high prices paid for Kahlo’s work does, however, have to be given to the fact that a very small number of works by Kahlo have ever appeared on the market.

As the above cases show the problem of gender imbalance in the art world is more complicated than it may seem, and the solution more difficult to determine. Progress is being made but not at any where near the pace that it should be.

To be continued………….

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

College Art Online – artmarketblog.com

'Delaware' by Mindy Kober 45.00" x 38.00" $1000.00

There are many online galleries selling the work of student artists but the recently launched CollegeArtOnline.com is definitely one of the best. Since the site was launched on the 1st of March 2009, CollegeArtOnline.com has attracted plenty of attention by offering a fantastic range of affordable works of art by a group of highly talented student artists. According to their website “CollegeArtOnline.com was developed to bring art to the masses. As its name implies, the website sells original works of student art at affordable prices. CollegeArtOnline.com enables art enthusiasts the chance to buy an original piece of art and collect works from artists who are hitting their prime in the art world. With prices ranging up to $3,000 and the average piece costing around $200, CollegeArtOnline.com is able to offer original artwork at affordable prices to the client”

To be honest, I was pleasantly surprised at the quality of the work being sold by CollegeArtOnline.com and was able to identify several artists whose work I am definitely going to consider purchasing. One artist whose work immediately appealed to me was Houston, Texas born Mindy Kober. According to her bio “In her large scale drawings on paper, she juxtaposes stereotypical American characters and icons into foreign or created environments, where they can interact in various ways. These cultural relationships explore themes of politics, colonialism, diaspora, and nationalism, and environmental issues. Sampled images are taken out of context and combined in new ways for the viewer to interpret.” Definitely an artist worth watching.

Making the task of browsing the myriad of available works much easier is the excellent layout of the site which gives potential buyers the opportunity to either search for works using very specific parameters or effortlessly browse through the works on offer. With each work clearly priced and the shipping cost available without having to make enquiries or type in address details, all that the buyer has to do is decide which work they want. CollegeArtOnline.com takes a very reasonable 25% commission from works sold but registration is free for both buyers and sellers.

Check out College Art Online here:
http://www.collegeartonline.com

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Investing in Female Artists Pt. 2 – artmarketblog.com

Marlene Dumas’s "The Visitor" (1995)

Judging by the response to my previous post on the lack of recognition given to female artists and the consequent discrepancy in price between female artists and their male counterparts, there are plenty of people who have strong opinions on this subject. Because of the lively debate that my last post encouraged I am going to extend this series of posts beyond what I had originally planned.

Although the status of the work of female artists may seem like a simple case of discrimination, in reality, the problem is much more complicated. Before I begin looking at the more complex issues behind the problems facing female artists, I thought it would be interesting to look at some facts and statistics so that the discrepancies can be put into perspective. In November 2007, the New York Magazine did some calculations and published some rather revealing figures relating to the number of female artists represented at several major art institutions. At the time, only 15% of the artists whose work was on show as part of the permanent collection of the Whitney Museum of American Art were female. The 2007 Venice Biennale could only manage a 76% male/24 % female split while Art Basel Miami Beach managed slightly better with a 73% male/27% female split. Worst of all was the Frick Collection which had a collection that was a mere 1% female artists.

The prices paid for works by female artists compared to the prices paid for works by male artists tell pretty much the same story as the above figures for the number of women represented at major art institutions. Compared with the $104 million paid for Picasso’s ‘Garçon à la pipe’, the highest price paid for a work of art at auction, the $10,870,506 auction record for a work by a female artist, which is held by Natalia Goncharova’s ‘Les Fleurs’, is tiny. The most expensive living artist at auction is once again a male with Lucien Freud’s infamous ‘Big Sue’ taking the honours with a $33.6m price tag. Comparatively, the most expensive living female artist is Marlene Dumas whose painting ‘The Visitor’ sold for 6.4 million at Christie’s in September 2008 – more than five times less than the record for the most expensive work by a male artist at auction.

Hopefully these statistics put the issue of the discrepancies between male and female artists into perspective. To be continued………..

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Investing in Female Artists Pt. 1 – artmarketblog.com

As a consultant and adviser to art investors I am often required to take on the role of a sort of art market futurist and make predictions regarding future trends and identify the artists/movements/genres etc. that have the greatest investment potential. There is one prediction that I have made that I would like to share with everyone because it relates to a particularly important and relevant issue that has been the subject of much debate over the last few years. It is no secret that the work of female artists sell for much less than their male counterparts and it is no secret that one of the reasons for this is the lack of recognition of the achievements of female artists by the cultural sector (scholars, museums, public galleries etc.). Interest in the work of female artists is, however, on the increase as the cultural sector begins to recognise the work of female artists from as early as the 16th century. I believe that the work of female artists is seriously under-rated and under-valued and that the value of the work of histories finest female artists will continue to rise in value in conjunction with the increased pressure put on the cultural sector to give female artists the attention and recognition they deserve.

Jerry Saltz recently re-ignited the debate over the status of female artists in relation to their male counterparts when he posted the details on his facebook profile of a meeting he had with a MoMA’s Chief Curator of Painting and Sculpture regarding the lack of works by women artists displayed at the MoMA. This was not the first time that Saltz had weighed in on the recognition of female artists debate. In 2007, Saltz wrote an article for the New York Magazine called ‘Where Are All the Women: On MoMA’s Identify Politics’ in which he criticised the MoMA for what he described as the exclusion of “women from the display of its permanent collection of painting and sculpture from 1879 to 1969″. Saltz’s facebook post suggests that not much has changed since the article he wrote more than 18 months ago.

In July 2008 an article by Andrew Johnson appeared in the English newspaper The Independent titled ‘There’s never been a great woman artist’ which looks at the dollar value put on the work of female artists compared to the work of their male counterparts. Johnson’s article provides two different points of view relating to the price discrepancy between male and female artists. The first point of view is that the art market is sexist and that female artists are not given the recognition they deserve compared to their male counterparts. Art critic Brian Sewell provides the alternative point of view which is that there has never been a first-rank women artist, only second and third rank. I personally find Sewell’s point of view completely ridiculous and totally unjustified. It may seem that there have never been any first-rank women artists but that is only because the art market and the cultural sector are sexist. Those women artists who are worthy of being considered “first-rank” have not been given the recognition and attention that would elevate them to the status of “first rank”.

Do you believe that there has been a “first rank” female artist?

To be continued……..

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Paris Rules Global Art Market – artmarketblog.com

Although the global art is in the midst of a crisis, Paris appears to be showing remarkable resistance: the number of auction sales and the volume of lots proposed has remained stable compared with 2008. Moreover, for the first quarter of 2009, the French capital posted a better overall revenue figure than either London or New York on the back of the Pierre Bergé-Yves Saint-Laurent sale at the Grand Palais in February. In fact, at the end of a first quarter in which the crisis was felt particularly hard in New York, art prices in France posted a contraction of only 5% and they have remained at that level since then. There are two main reasons for this resistance: firstly Paris (and France in general) is essentially a less high-end market and therefore less speculative by nature and secondly, the Paris branch of Christie’s has had a number of particularly fruitful sales. One figure which particularly bears out this Parisian exception is a bought-in rate that has diminished from close to 50% in the autumn of 2008 to below 40%.

On 28 May 2009, Sotheby’s Contemporary Art sale in Paris found buyers for 95.2% of the lots on offer. However, the best Parisian results over recent months have been generated by Sotheby’s rival Christie’s which had substantial success with its sales of private collections (part or whole) in February and then in May. The sale of the Bergé-YSL collection on 23 February 2009 was a veritable windfall. Remember that its revenue total of €373.5m (of which €255m for works of art) was equivalent to 53.2% of France’s total auction revenue in 2008! An oasis in an otherwise barren landscape for global art sales, that auction produced 22 sales above the $1m line (vs. 19 in 2008 for the whole of France) including four of the five best sales in France over the last 20 years! (Henri MATISSE, Les coucous, tapis bleu et rose: €32m, Constantin BRANCUSI, Madame L.R.: €26m, Piet MONDRIAAN, Composition avec bleu, rouge, jaune et noir: €19.2m, and Composition avec grille 2: €12.8m).

At the end of May, Paris had another strong moment although relatively modest by comparison with the February results. Sotheby’s posted only two sales above the $1m line (Nicolas STAëL de, Bouteilles, €1.1m on 27 May and Georges Pierre SEURAT’s drawing Femme avec deux fillettes, €1.3m on 28 May) while the best result from Christie’s Impressionist & Modern sale was €460,000 (for Auguste RODIN’s Faunesse debout). The best result from the Contemporary Art sales was €620,000 for Andy WARHOL’s portrait of Yves Saint-Laurent on 27 May. Nevertheless, Christie’s pulled off a highly successful event by offering approximately 50 works by François-Xavier and his partner Claude Lalanne that generated €2.3m, lifting the final total for the sale to €6.7m. The French auctioneers have also produced some remarkably good results, including the large sum generated from the sale of Rodin’s Penseur that was presented at Drouot by the houses Mathias, Baron Ribeyre & Associates and Farrando-Lemoine. This emblematic sculpture adorns the centre of the tympanum of Rodin’s Portes de l’Enfer. Estimated at €400,000, the piece sold for no less than €2.56m on 17 June, beating the previous record of $2.7m (€1.86m) for the same subject (Sotheby’s NY, 7 November 2007). Immediately after this historic bid, a Petite Eve by the same artist completely dwarfed its price estimate of €300,000 when it fetched €2m.

As the summer approaches, the French art market is entering a calmer phase. Among the upcoming summer auctions, Christie’s has yet another sale scheduled involving a private collection. The sale entitled L’oeil d’un sculpteur: Collection Mary Callery will take place on 2 July and will offer 63 modern works with signatures including Henri Laurens, Hans Arp, Henri Michaux and Fernand Léger. The star lots will include a small Concetto Spaziale, Attese , Attese by Lucio FONTANA which is expected to fetch between 40 and 60 thousand euros and two paintings by Wou-ki ZAO, dated 1959, including one large format that is estimated at between 400 and 600 thousand euros. In the same price range, the auctioneer will be offering a painting in acrylic by Frank Stella measuring 4-metres across. For budgets of one to three thousand euros, there will be two etchings by Pierre Soulages and various paintings by Jesse Reicheck (oil on canvas 1960, €1,500 – €2 000) and James Brown (Un être, €2,000 – €3,000).

Copyright@Artprice.com

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Sold to Richard Green – artmarketblog.com

Thomas Gainsborough R.A., A Pug, oil on canvas

While browsing through the top results of recent auctions, as provided by Sotheby’s through their press releases, I came across something that I don’t see to often – the identity of a buyer listed in the release. Usually under the heading “Buyer” there is an indication of what sort of buyer they are and sometimes where they are from. Examples of the usual identities given to buyers are: UK Private, UK Trade, Private European Collector, London Trade or, as is often the case, a buyer is listed as anonymous. I continued perusing the press releases when I came across another with the same buyer once again identified as having purchased a painting that had achieved one of the ten highest prices of the auction. The buyer in question was the very well known London art dealer Richard Green who dabbles in everything from 17th century Old Masters to 20th century British art but is best known for his dealings in Old Master paintings.

In a market where a high level of discretion is the norm for both buyers and sellers it is interesting that a dealer in Old Master paintings, of all people, would be so transparent with their dealings. It makes sense though that if you are a dealer and want to sell a painting that having your name on the press release identifying you as the successful bidder would not only advertise your business but attract potential buyers. This tactic seems to be working quite well for Mr. Green whose business seems to be fairing extremely well in the current climate. There is, however, more to the story of Richard Green and his success as an art dealer. Much more in fact. To start with, the two works that I said were listed by Sotheby’s as having been purchased by Mr. Green are rather revealing. The first painting was purchased on the 9th of July from the Sotheby’s Early British Paintings sale and was an oil on canvas by Thomas Gainsborough titled “A Pug”. Listed with an estimate of 100,000-150,000 pounds, “A Pug” was purchased by Green for £993,250 (including premium) which, other than being more then six times the high estimate, was the highest price of the auction. The second work was a painting by Herbert Olivier titled “Summer Is Icumen In” which Green purchased  from Sotheby’s July 15 Victorian & Edwardian Art sale. He paid for 331,250 pounds against an estimate of 80,000—120,000 pounds estimate – a new record for the artist at auction and the third highest price of the sale.

Richard Green is known for identifying then purchasing works of art that he, as a results of his research, has identified as being undervalued. In fact, there are many reports of Green uncovering hidden gems which he then manages to on-sell for many times more than he paid for them. Both “A Pug” and “Summer Is Icumen In” were purchased by Green for well above the high estimate which suggests that Green identified these two works as being undervalued. One thing is for sure, he would not have paid what he did for these two works unless he was confident that they would appeal to his wealthy clientele and that he would be able to make a profit from them. Exactly what Green knows about these two paintings that makes them so much more valuable than the estimate provided by Sotheby’s I do not know. What I do know is that the research Green does, and his scholarly knowledge of the art he deals in, has played a major role in his success. One of the smartest dealers around if you ask me.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Art Market Arbitrage – artmarketblog.com

For those of you unfamiliar with arbitrage, investorwords.com defines arbitrage as “attempting to profit by exploiting price differences of identical or similar financial instruments, on different markets or in different forms”. In my opinion, arbitrage is one of the most interesting and potentially profitable ways to make a profit from fine art but it does require a relatively high level of art market knowledge. The reason that arbitrage is possible with the art market is because the art market is relatively inefficient and pretty much unregulated. What this means is that the value of a work of art can differ greatly depending on where a work of art is sold.

There are essentially two ways that one can profit from price discrepancies for a single work of art. The first involves purchasing a work of art from a smaller, perhaps regional auction house where the prices are likely to be lower, and then selling at one of the big two auction houses where prices are likely to be higher. To profit from this method of “investing”, one needs to be able to identify works of art that do have the potential to attract a high price if presented to a more wealthy audience which, as I stated earlier, would require an extremely good knowledge of pricing and the mechanics of the art market. The second arbitrage method involves purchasing a work of art from one country where that artist/subject/period is not very popular and selling in another country where that artist/subject/period is more popular. An example of this form of art arbitrage took place in Japan where, during the recent contemporary art market bull run, dealers would purchase works of art at auctions in Tokyo and then sell them at a higher price to the west.

The internet has had both a positive and negative effect on art arbitrage. On the positive side are the increased opportunities available to art arbitrageurs due to the ease with which one can now browse auction catalogues from all over the world and bid on those works online. However, the internet has also provided the opportunity for more people to find and bid on works of art which increases the likelihood of there being competition for that work of art that the arbitrageur has identified as being a good buy. All in all, art arbitrage can potentially be a quick and highly profitable method of investing in art, but it is also very risky and requires an excellent knowledge of the art market and a decent amount of capital. Best left to the experts then but an interesting concept all the same.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Going Crazy for Works on Paper – artmarketblog.com

Pablo Picasso (1881-1973) Tête de femme signed and dated '30 Mars 43 Picasso' (lower right) gouache and wash on paper 25 7/8 x 19 7/8 in. (65.7 x 50.4 cm.) Executed on 30 March 1943

During the major art auctions that have taken place over the last few months in London and New York there has been a particularly noticeable demand for original works on paper. In particular, original works on paper by the most popular modern artists such as Picasso, Calder, Chagall etc. have been particularly popular with prices at auction routinely exceeding the top estimate thanks to highly competitive bidding. Because works on paper are usually the domain of the connoisseurs who have a stronger appreciation for the non-visual aspects, it is unusual for works on paper to be so strongly fought over. However, as the supply of works available for sale by the most famous modern artists continues to dry up, the demand for works by the big names has created a situation where even the works that are usually considered to be far less desirable are being snapped up with unprecedented urgency.

The most fought over pieces have been those with imagery similar to that which is typical of major works from the artists oeuvre, and that have the appearance of finished original works of art as opposed to studies or cartoons (even if they are). It is the larger scale coloured works that give the strongest impression of being original and finished works of art and, as such, are the most sought after. The price of works on paper, by the some of the most desirable big names such as Alexander Calder, have been creeping up in price for some time now as supply of works by such artists becomes inevitably smaller as time progresses. Even though owners of valuable works of art are sitting on their artistic assets while the art market finds its feet thus reducing the supply of works on the market, the level of demand for what is available is way above what most people expected. With demand out-stripping supply to the extent that we are currently seeing one can only conclude that there the market for art is still strong and there is plenty of money available to be spent.

To give you some idea of the sort of demand we are seeing for works on paper here are some recent auction results:

Sale Information:

Sale 2168
post-war and contemporary art morning sale
14 May 2009
New York, Rockefeller Plaza

Lot Description:

Alexander Calder (1898-1976)
Spirally Lady
signed and dated ‘Calder ‘44′ (lower right)
ink and gouache on paper
30¾ x 22½ in. (78.1 x 57.1 cm.)
Painted in 1944.

Estimate: $30,000 – $40,000
Price Realised: $188,500 (including premium)

Sale Information:

Sale 7736
impressionist/modern works on paper
24 June 2009
London, King Street

Lot Description:

Pablo Picasso (1881-1973)
Tête de femme
signed and dated ‘30 Mars 43 Picasso’ (lower right)
gouache and wash on paper
25 7/8 x 19 7/8 in. (65.7 x 50.4 cm.)
Executed on 30 March 1943

Estimate: £110,000 – £150,000
Price Realised: £313,250 (Including Premium)

Lot Description:

Ernst Ludwig Kirchner (1880-1938)
Mädchenakt am Ofen
signed ‘E L Kirchner 12′ (lower right); with the Nachlass stamp numbered ‘A Be/Bg 1′ (on the reverse)
watercolour and black chalk on paper
14 7/8 x 17¾ in. (37.8 x 45.2 cm.)
Executed in 1914

Price Realized: £181,250 (Including Premium)
Estimate: £40,000 – £60,000

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Casting for Art World Reality Show – artmarketblog.com

If you’re an artist who would like the opportunity to be on television and you think you have what it takes to be the next star contemporary art world then keep reading. With all sorts of people from aspiring chefs to wannabe models getting the chance strut their stuff on television while competing with other contestants for honour and glory, it is about time that artists got a slice of the pie. You may remember a show called Artstar that aired in 2006 where artists were a group of carefully selected emerging artists were given the chance to strut their stuff. Well, it appears that this Untitled Art Project program takes things a step further and will actually give artists the chance to compete with other artists for the chance to win some sort of prize – presumably some sort of promotional opportunity. It sounds like this show is going to be really awesome so I would encourage all eligible artists to enter. For more information see the press release and associated links below

Press Release:

How do you go from struggling, emerging or even semi-established artist to selling a complete show for $198 million? It’s a big art world out there, but maybe this is one place to start!

Magical Elves (Peabody Award-winning Project Runway, Emmy Award-winning Top Chef) and Sarah Jessica Parker (Golden Globe- and Emmy Award-winner) and her production company, Pretty Matches, are teaming up for an hour-long creative competition series among aspiring contemporary artists who will create and compete to conquer the art world!

If you’re an emerging or mid-career visual artist with a unique, powerful voice that demands a bigger stage – well. . . Here.  It.  Is.

We want contemporary artists. Your medium could be one of many (or several of many) – painting, sculpture, installation, video, photography, mixed-media – we want voices that believe in their art and want the world to know.

*To be considered for the cast, attend one of our four regional casting calls around the country, see below.*

Go to www.BravoTV.com/casting to download an application and see what you need to bring with you to an open call.

GOOD LUCK.

*********************

OPEN CALL INFO:
LOS ANGELES
LA><ART
http://laxart.org/
Saturday July 11th & Sunday, July 12th
10:00am – 2:00pm

MIAMI
Fredric Snitzer Gallery
http://snitzer.com/
Tuesday, July 14th
10:00am – 2:00pm

CHICAGO
School of the Art Institute : Sullivan Galleries : 33 State Street
http://www.saic.edu/
Thursday, July 16th
10:00am – 2:00pm

NEW YORK
White Columns
http://www.whitecolumns.org/
Saturday, July 18th & Sunday, July 19th
10:00am – 2:00pm

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

The Art of Fernando Carpaneda – artmarketblog.com

Todd 2004

I sometimes come across artists that I just have to let the world know about and Fernando Carpaneda is one of those artists, but be warned, because Carpaneda’s work is very confronting and will be not be to everyone’s taste. Those willing to keep an open mind and explore Carpeneda’s work will be glad they did because he is a truly amazing artist. A brave artist too. Brave enough to use rent boys, thieves, punks, goths, homeless people, and other unsavoury types as the subject of his work. If you are intrigued then please read on.

When I first saw a picture of one of Carpeneda’s works I didn’t know what I was looking at. What I saw looked like a photo of a person but had a surreal element to it that suggested that there was more to Carpeneda’s work than the image revealed. As soon as I found out that I was looking at a clay sculpture I was completely blown away. The level of detail and the amount of work put into each sculpture is quite astonishing especially for a clay sculpture. To give each sculpture a personal association with the person they depict, Carpaneda uses objects connected to that person in the sculpture. Carpaneda says about his work on his website that: “All his portraits are like a relic, a holy place, a moment caught in time. He uses objects that have a connection to the portrayed person to composing his work, such as cigarette butts, condoms, beer cans, underwear, semen, empty toothpaste boxes. In other words, things that are part of these people’s real world, and his own. He uses such objects and remains as a beginning for his portraits”

Most of the people we see on a day to day basis whether it be at work or at social event dress and prepare their appearance so that the look as one would expect a normal person leading a normal life to look. Most of the people that Carpaneda depicts, however, dress and prepare their appearance in a way that reflects their true personality.  These are the sort of people one would normally want to stare at but would try and refrain from doing so because we are taught that it is rude to stare. Instead of depicting the perfect male figure that most people are familiar with as a result of classical sculptors, Carpaneda utilises classical methods and materials to construct highly detailed analogues of what many would consider to be the outcasts of society.

A classical sculpture of a nude male figure is an image that almost everyone is familiar with and is able to view without feeling uncomfortable, embarrassed or repulsed. A sexualised image of a homosexual male, however, is a totally different story. Carpaneda’s sculptures challenge our perceptions of gender and identity as well as questioning the labels that society put on people who do not conform to the accepted norm. Yes, his work is confronting and will not be to every one’s liking but it is undeniably the work of a talented artist who is not afraid of challenging the boundaries of artistic practice and confronting viewers with the issues of stigma and division in modern society.

For more information on Fernando Carpaneda and his work visit
http://www.fernandocarpaneda.com/

and for information on the newly released book on his work see:
http://www.artslant.com/chi/articles/show/8249

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Susan Graham at Compound Editions – artmarketblog.com

Susan Graham Vessel for Safekeeping (Survivalism) 2009 Porcelain Edtion of 50, plus 10 APs $250.00 each

It is good to see that there are people willing to make a stand against the global economic crisis and start new ventures to promote the work of emerging artists even though many would shy away from making such commitments. Two such people are the owners of Schroeder Romero and Winkleman Gallery who launched Compound Editions, a collaborative fine art multiples publishing venture, in November last year. The latest offering from Compound Editions is by New York based artist Susan Graham who has created a fantastically witty work that is very much a memento of our times. “Vessel for Safekeeping (Survivalism)” is a sort of “alternative” mantel piece ornament that consists of a hand sculptured and hand glazed porcelain lacy box which contains a porcelain credit card and porcelain scissors.

We all like to think that we have complete control over our financial status but Graham’s use of a very fragile and rigid material in the construction of the box, card, and in particular the scissors, suggests that we do not have as much control as we may think. Although a pair of scissors is provided to cut up the credit card the porcelain scissors are completely useless as though mocking the helplessness of the viewer. Even though we can’t cut the credit card with the scissors the fragility of the porcelain credit card makes it very vulnerable to damage, just like our financial status, if not properly taken care of. Graham also appears to be suggesting that our identities are very much defined by our financial status and that people judge others according to their financial means in much the same way as the sort of ornaments that a person has on their mantel piece can say a lot about them and and their family.

“Vessel for Safekeeping (Survivalism)” is an edition of 50 plus 10 APs and can be purchased for $250 from Schroeder Romero and Winkleman Gallery or by emailing compoundeditions[at]gmail.com

Further information and other editions can be found here:
http://compound-editions.blogspot.com/

Susan Graham has been included in numerous exhibitions in the United States and Europe including recent shows at the Tucson Museum Of Art, John Michael Kohler Arts Center in Sheboygan, Michigan; the Hudson River Museum in Yonkers, the Sherman Gallery at Boston University, Hunter College Leubsdorf Gallery, New York; the Musee d’art et d’industrie de Saint-Etienne, and the Musee International des Arts Modestes, Sete, France.

More info on Susan Graham and her work can be found here:

http://www.susangrahamart.com/

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Art Bankers Take Advantage of Falling Prices- artmarketblog.com

The interest in structured art investment programs has continued to remain relatively high considering the recent concerns voiced by some regarding the state of the art market. Since the beginning of the year there have been several new art investment programs launched which suggests that the categorisation of art as an asset class has not been damaged by the recent market jitters. In fact, with plenty of bargains up for grabs there is probably no better time for art investment funds to be buying works.

The most significant of the new programs is the so called “Collection of Modern Art Fund” which is a product of the UK based Castlestone Management, a privately owned independent fund manager. According to the fund website (http://www.collectionofmodernart.co.uk) “Collection of Modern’s Art’s investment philosophy is focused on building a diversified portfolio of artists to provide medium to long-term appreciation based on thorough research and the proven strength of the market for these artists. The portfolio composition is a key component to ensuring the returns of the fund are in line with the market. With this achieved, the fund can act as a real asset, increasing in value with money supply and inflation and thus providing an inflation hedge. In the initial selection process, the manager aims to identify works of art for the portfolio that broadly represent the Art Market Research 100 index”

The second major art investment program to be launched is a collaboration between the China Merchants Bank and the China Contemporary Art Foundation. China Merchants Bank (CMB) have taken what is a slightly different approach to art banking by offering their clients the opportunity to put down a deposit on a work of art chosen a group of experts and take possession of the work of art for a period of twelve months. If after the twelve month period the client decides that they want to purchase the work of art they can do so or if they do not want to purchase it they can return it and receive a full refund. According to one of the bank’s representatives who was interviewed by the People’s Daily Online Newspaper, “Some banks hire art investment consultant and bring clients’ money to auction house. We are not doing that, because it easily slips out of control. We offer free transportation and as long as the artwork is well preserved, our clients will at least break-even”

Adding to the options for keen art fund investors is Phillip Hoffman’s The Fine Art Fund Group Ltd (http://www.thefineartfund.com/) who have indicated at the beginning of the year that they would be starting a new fund to take advantage of the fall in price of many works of art. Since the beginning of the year Hoffman has further indicated his intentions to raise $100 million dollars of the next year to purchase works from private and institutional collections that are up for sale. According to a report from the Financial Times, the group is currently looking at purchasing two major art collections one of which is owned by a Spanish bank and the other by a manufacturer. After postponing their plans for a dedicated Indian art fund creatively titled the Indian Fine Art Fund due to the current instability of the market for Indian art, it is good to see this new initiative from Hoffman.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Niki de Saint Phalle Braves the Crisis – artmarketblog.com

After the sale of three Niki de Saint-Phalle’s giant Nanas in Germany in December 2008 for €750,000, the Paris sale last month of her Le Banc produced another excellent result. The French-American artist – whose works are collected all over the world – is generating good sales performances in spite of the crisis.

Born in France and raised in the United States, Niki SAINT-PHALLE de successfully steered her career under the two flags at a key moment in the history of art and of the art market. Indeed, at the start of the 60s – when Niki de Saint-Phalle was creating her first Tirs and Nanas – the art market’s centre of gravity was being pulled across the Atlantic towards the United States and the American Pop Art phenomenon. Niki, who was associated with the New Realists in France, created the most distinctly “Pop” works of the French movement using a playful iconography of curves and colours. By successfully establishing herself as a female artist on both sides of the Atlantic, Niki de Saint-Phalle managed to join the ranks of artists whose price-indices enjoy international recognition (unlike some of the other New Realists, including her partner Jean TINGUELY). Nevertheless, the market for her work has remained more dynamic in France, and 35% of her auction sales take place in her native country. In terms of sales revenue, the geographical breakdown of her auction sales (often involving monumental pieces) is as follows: 38% in France, 31% in the UK and 15% in the United States.

Her Nanas – buxom women made with fibres glass and painted in bright colours – easily reach and exceed the estimate. Niki created her first Nanas in papier mâché and fibre in 1965, inspired by a friend’s pregnancy. Initially uncoloured, her joyous Venuses soon acquired multi-coloured surfaces – leading a playful revolution against gloominess. The very large and unique pieces – including some of her later works produced from the 1990s – sell for over €100,000. Her best-ever auction result was generated by a giant Nana (270 cm) in painted polyester which fetched $1m (nearly €780,000) at Sotheby’s in New-York during the sale of the Vanthohournot Collection on 14 November 2006. Two years before this record, a Nana of the same dimensions fetched €360,000 in Paris (Sotheby’s, 18 July 2004 La vie en rose – La danseuse rose).

The price range for the Nanas is very broad because Niki made them in various different sizes and sometimes produced limited editions of the same piece. For a small Nana from the 1960s (less than 30 cm), one would expect to pay between €15,000 and €30,000. Indeed, a Mini nana acrobate of 20 cm doubled its price estimate in Paris last month when it sold for €26,000. With strong demand for her work already developing during her lifetime, Niki de Saint-Phalle decided to make her work available to a broader public by producing prints and small porcelain Nanas edited in 200 copies, some of which can be acquired at auctions for around €3,000 (one such piece recently fetched €2,800 at Venator & Hanstein in Cologne).

The price index for her sculpture-furniture is also regaining momentum. On 27 May 2009, a sculpture of a man reading a newspaper on a bench watched by an imaginary animal entitled Le Banc (1 of 3 copies) fetched €460,000, substantially more than its estimated value. The fact that the piece was presented at Christie’s sale of a collection of pieces by François-X. & Claude LALANNE – hybrid works on the cusp of art and design – undoubtedly contributed to the result: the high number of furniture-sculpture pieces at the sale and the good results for the Lalanne works was the perfect context for the sale of the Saint-Phalle work.

Copyright@Artprice.com

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Sotheby’s June 09 Indian Art Sale – artmarketblog.com

Jogen Chowdhury, b.1939 "Day Dreaming" Ink and pastel on paper (lacquered)

On the 16th of June Sotheby’s held a sale of Indian art at their Bond, St. London Saleroom which, with the recent downturn in the demand for contemporary Indian art, was an important sale. Works by the modern masters fared well as was to be expected with works by the famous Maqbool Fida Husain proving particularly popular. Even though only 67% of the 86 lots on offer were sold the sale total of 2,067,400 GBP (3,376,684 USD) exceeded the pre-sale estimate of 1,193,500-1,754,000 GBP. This was mainly due to two works the first being the catalogue cover lot by Jogen Chowdhury titled ‘Day Dreaming’ which sold for 373,250 GBP against an estimate of 80,000-120,000 GBP and the other being ‘Orange Head’ by Francis Newton Souza which made 403,250 against an estimate of 80,000-120,000 GBP. All seven works by Husain found buyers with five of the works exceeding the top estimate including an untitled work from 1953 which fetched the third highest price of the auction of 109,250 against an estimate of 50,000 – 70,000 GBP. The two Husain works that didn’t exceed their top estimate were minor works on paper which proves that quality and rarity were important factors for buyers.

A safety net of historical works from the 16th to 19th centuries made up more than a third of the catalogue and sold well. The highlight of the historical works was an illustration from the Harivamsa circa 1820 that depicts Krishna and his consorts frolicking in the heavens while his companions watch from the Yamuna, India, Kangra or Guler which sold for 23,750 GBP against an estimate of 3,000—5,000 GBP. Works by lesser known and contemporary artists did not do as well with two major works by Thukral and Tagra each estimated to bring in 30,000 – 40,000 GBP failing to sell. The disappointing results for the works by contemporary artists were to be expected considering the overall decline in the demand for contemporary art.

The top four lots went to US private collectors as did the 8th and 10th highest priced lots. Indian private collectors took home the 6th and 7th highest prices lots with the 5th and 9th highest priced lots purchased by London dealers on behalf of private collectors. Overall the sale was a success for Sotheby’s who managed to put together a small and safe catalogue of works that would appeal to a wide range of buyers. The inclusion of several rare top quality works by the most sought after Indian artists satisfied the discerning collectors who are driving the market and gave Sotheby’s a solid result.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Do-Ho Suh at SculptureCenter – artmarketblog.com

SculptureCenter Home Exhibitions Events Visit Join About Press Store Limited Editions Bookstore Event Tickets Search All content © SculptureCenter. All rights reserved. Limited Editions Do-Ho Suh Doorknob/Bathroom, 2003 Polyester fabric, lithograph on paper in acrylic box 12" x 18" x 7 3/4" Edition of 20 with 3 artist proofs $4,500.00

A new auction record was set for a limited edition work by the popular Korean artist Do Ho Suh at Philips De Pury’s June 2nd Editions sale where one of the artist’s limited edition lithographs, “Untitled, 1998″, sold for $7,500 against an estimate of $2000 – $3000. A far more interesting limited edition work by Do Ho Suh titled “Doorknob/Bathroom is available from the New York based SculptureCentre for $4,500.00. An edition of 20 with 3 artists proofs, “Doorknob/Bathroom” is “a full-scale reproduction of the doorknob of the artist’s Chelsea apartment. Do-Ho Suh often works with semi-transparent fabrics that he delicately sews together to represent – and defy – existing and functional spaces and objects. Doorknob/Bathroom exists as an isolated architectural element, separated from Suh’s apartment and therefore abandons its ties with a specific place and becomes a loose abstraction with a new-found flexibility and transparency”

The popularity of Do-Ho Suh’s work and the inclusion of his work in the collections of the NY Museum of Modern Art, the Whitney Museum of American Art, the Guggenheim Museum, and the LA Museum of Contemporary Art makes this limited edition a good investment.

To purchase or inquire about this SculptureCenter Limited Edition, please contact Mary Button at mbutton@sculpture-center.org or 718-361-1750 x111

For more information go here:
http://www.sculpture-center.org/storeLimitedEdition.htm?id=10159

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

June Online Art Auctions – artmarketblog.com

George S. Zimbel: 'Marilyn Monroe and Billy Wilder, The Seven Year Itch, New York, 1954'. Being auctioned by artnet auctions

Online auctions can be a great source of art for collectors and investors as long as you buy from a reputable auctioneer that offers a guarantee of authenticity and condition. All the auctioneers listed below are extremely reputable and totally trustworthy so you can feel confident in dealing with any of them. There are always great bargains to be had so it’s well worth taking the time to browse through the catalogues, you never know what you may find!!!!

Canadian auction house Heffel.com is currently auctioning a selection of works by Eastern Canadian and Western Canadian modernists including works by Paul-Emile Borduas, Leon Bellefleur and Mary Frances Pratt. This auction finishes on the 25th of June.

Browse works here:
http://www.heffel.com/online/Index_E.aspx

iGavel is currently auctioning a selection of Fine Art and Antiques from Southern Estates and Various Owners which finishes on the 30th of June. This diverse auction features a group of psychedelic posters from the San Francisco music scene of the 1960s, a number of old master paintings, work from the Florida school, paintings by accomplished American illustrators working in the first half of the 20th century and other works by notable 20th century artists including Bernard Buffet, John Newton Howitt, Oliver Chaffee, A.B. Davies, Hattie Saussey and John Stobart.

Highlights from the decorative arts include a 17th century ivory inlaid Spanish vargueno, silver and objects of vertu from Gorham, Tiffany and Cartier, coin silver, American weather vanes, Venetian glass, 18th Century Georgian Furniture, 18th Century pewter and many interesting group lots.

Browse items here:

http://auction.igavel.com/AuctionHelp.taf?S=N&R=2&C=2&return=50&sort=1&ST=1&days=&category_id=&_start=1&keyword=E3AB&_UserReference=7F000001471891E7E8D3991F1FD44A35006E

Now through June 25, artnet Auctions is featuring Icons: 20th-21st Century Photographic Portraits, a special sale of 250 original fine art photographs of legendary figures including Muhammad Ali, The Beatles, Bob Dylan, Jackie Kennedy, Madonna, Marilyn Monroe and Kate Moss by renowned photographers from Louise Dahl-Wolfe to David LaChapelle.

Browse works here:

http://www.artnet.com/AUCTIONS/Pages/Common/Search/LotSearchResult.aspx?LotSearchState=1&Keyword=icons%20sale&SearchIn=AllArtWorks#scroll=1

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

How Artists Can Get Noticed NOW !!!! – artmarketblog.com

Since my last ‘How Artists Can Get Noticed NOW’ post several new websites have been launched that can assist artists in the promotion and sale of their work so check out the new additions to the list below.

http://www.artprize.org
ArtPrize is a radically open art competition, giving away the world’s largest art prize. Open to any artist in the world who can find space. Open to anybody in the city who wants to create a venue. Open to a vote from anyone who attends. Part arts festival, part social experiment – this international art contest is decided solely on a public vote. Call for entries ends July 31, 2009. Art festival begins Sept. 23, 2009.

http://foliotwist.com/
Easy & effective online portfolio websites for artists.
Our unique artist websites have been professionally designed to put the focus squarely on your art – and since our design comes with a blog, newsletter list, and integrated PayPal, it’s very easy to promote AND sell your art.

http://www.myartplot.com/
MyArtPlot (MAP) is an art community and empowerment platform – of artists, crafters, and supporters – fighting to create a united, supportive, and non-elitist art world. No more isolation, elitism, and starvation. MAP is an essential part of any creative life. It brings together the art profession into one global point of contact and interaction. Social, professional, and commercial power thrive here.

http://www.artition.com
The social network for all artists. Present your works and explore works of others. Get inspired. Buy and sell art. Get real life exhibitons and be discovered. artition the whole world of art all in one place – totally for free!

http://www.zatista.com
Zatista’s mission is to create an online marketplace that effectively connects buyers and sellers of fine and contemporary original art. Our commitment is to provide an innovative, safe, and comfortable experience to discover and purchase high-quality original art, as well as increase exposure for our artists and galleries.

http://www.illustrationmundo.com/
* Just Illustration – A place where ILLUSTRATION gets all the Love
* Show case all the great Illustrators in the world today and make it easier for Designer,Art directors and others to find them.
* Provide current information about the commercial illustration industry
* Provide a central location where people can get inspired, share information and seek advice.
* Free!! – Participation is absolutely free- The only barrier to entry is that content submitted is relevant to illustration and of great quality.

http://www.dripbook.com
Dripbook offers its worldwide community of professional visual artists the easiest, most stylish way to display, promote and distribute their portfolios online.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

How Artists Can Get Noticed NOW !!! Update 8 October 08 – artmarketblog.com

It has been a few months since I updated this post so for all those artists out there looking for ways to promote themselves and for all those collectors looking for sources of new artists talent – here you go…

Culture Hall
http://www.culturehall.com
Apply for your free online artist portfolio
Unlike many other online portfolio communities, membership to culturehall is curated. Our community is primarily composed of MFAs, art faculty and other art professionals. We are open to all genres and mediums and it takes only a couple of minutes to apply for your free art portfolio.

Squidoo
http://www.squidoo.com/
Squidoo’s goal as a platform is to bring the power of recommendation to search. Squidoo’s goal as a co-op is to pay as much money as we can to our lensmasters and to charity. And Squidoo’s goal as a community is to have fun along the way, and meet new ideas and the people behind them.

Art Marketing Action by Art Biz Coach
http://artbizcoach.com/newsletter/
Alyson Stanfield’s Weekly Tips for Taking Charge of Your Art Career

Art Slant
http://www.artslant.com
ArtSlant is your spot for the most up-to-date news on art exhibitions and events in your city and the great art cities of the world. Artists can upload their profile and list details of their exhibitions.

Artist Daily Deals
http://www.artistdailydeals.com/
Daily deals on supplies and services for artists

Discovered Artists
http://www.discoveredartists.com/
DiscoveredArtists.com is serious about selling your art. You can effectively promote yourself and your work to thousands of qualified Buyers around the world on this website. Our professional site design, robust search engine, and smart marketing result in generating significant art sales for career Artists.
And, the good news? It doesn’t take serious cash to do it!
You can sell your artwork online for as little as $59 per year.

Ideas for promoting and selling art from the lazarus corporation
http://new-media.lazaruscorporation.co.uk/

artid
http://artid.com/
Artists, Sell Art on ArtId by opening your own ArtId gallery, a simple, easy to manage web gallery that helps you promote your art by providing the necessary online marketing tools to make your business succeed. Also, view and apply to Calls for Art!

How Artists Can Get Noticed NOW !!! Update 7 June 08 – artmarketblog.com

Several new avenues for artists to promote themselves and their work have recently popped up so I thought it was a good time to update this list. Enjoy!!

Seesle
http://www.seesle.com
Seesle is intended for all visual artists (professionals and leisure artists) who wish to bring their work to the attention of a large public. (Private) art collectors may also advertise work.

WebArtEx
http://www.webartex.com
Thanks to WebArtEx you can obtain widespread information on art exhbitions; gain access to artistic data and technical and economic data, as well as locations, services and supplies linked to an event with a view to creating and increasing the opportunities for exchange between the parties concerned. WebArtEx enables sellers to easily identify potential buyers and the latter to know the exhibitions and works-of-art available on the whole national territory.

GoZabo
http://www.gozabo.com
GoZabo gives artists an inexpensive portal to promote and sell their art online whether it’s jewelry, pottery or any mixed media! Gozabo also gives buyers the opportunity to save time from getting frustrated navigating thousands of artists’ individual websites AND the ability to go to one site where they can view products AND purchase them with secure shopping cart capabilities while shopping at home!

Zibbet
http://www.zibbet.com
A ‘Zibbet’ is the name for your art shop on Zibbet.com. When you name your ‘Zibbet’ you will receive a personalized web address. For example www.zibbet.com/mybeautifulart. You can fully customize the appearance of your Zibbet with a photo, bio and you can even display a YouTube video if you wish, as well as many other great features.

MutualArt
http://www.mutualart.com
MutualArt.com has a completely new approach to art on the web. Members can track categories of art – even individual artists – and receive new information on these from thousands of sources. They also receive advance notification of art events in the categories they choose – from exhibitions and lectures to opening parties and galas, to auctions offering works by their preferred artists.

MutualArt.com includes the world’s largest online archive of over 150,000 art related articles from over 250 quality magazines, newspapers and journals, as well as providing a conduit for galleries, museums, auction houses, art fairs and publishers to reach their target audiences over a single, global platform.

Time for another list of opportunities for artists to promote themselves and for art lovers to check out some talented artists.

Artist Rising
http://www.artistrising.com/
According to their website, Artist Rising (http://www.artistrising.com) invites you to mingle with emerging and established artists from around the world and browse their fine art and photography. Offering original artwork, fine art prints and limited edition works for immediate sale, Artist Rising allows for the discovery of creations that can express a mood, a space, or an appreciation/;.

Digital Painting Forum
A forum, gallery and shop for digital artists and mixed media artists
http://www.digitalpaintingforum.com/

Art Crazed
Network for photographers, collectors, artists, models and friends
http://www.artcrazed.com/

Pieronymus Art Network
A social network for artists
http://pieronymuskosch.ning.com/

WORLDWIDE ARTISTS Facebook Group
Facebook network for artists
http://www.facebook.com/group.php?gid=2258055248

Surrounded Art Competition:

You now have the chance to win signed copies of SURROUNDED’s latest album ‘The Nautilus Years’ and a limited edition poster. All you have to do is submit your favourite artwork/movie footage and the best entries will be included in the bands’ projections at their live shows. They can be works that either you have created yourself, or just admire by other artists. The images will then be taken by the band and sequenced in with their own videos and projected onto the back of the stage.

High resolution images should be submitted via email to info@surrounded.se or via this MySpace. Alternatively you can upload the videos on YouTube and email us the URL link. This is a wonderful opportunity for you to become a part of the band’s performance and be a part of their visual spectacle. Even if you can’t make it to a show, submit something anyway as chances are high it will still appear.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

How Artists Can Get Noticed NOW !!! Update 5 (April 08)

Time again for another list of websites that can help an artist get noticed. If you are not an artist but are interested in art then you should enjoy checking out all the talent that is being shown on the websites below. Something for everyone !!!

Expat Arts Network
http://www.expatarts.com
Expat Arts is a growing global network for people who live between cultures. Our mission is to bring the world closer together through creative endeavors. We have been developing the network since June 2007.

Art Break
http://www.artbreak.com
Artbreak is a community marketplace for artists and art lovers. It’s a place for artists to share and sell their stuff, tell the world about themselves, get feedback, and make connections with other artists and people who like their work. It’s a place for art lovers to find incredible work from emerging artists from all over the world.

Art Log
http://www.artlog.com/
Artlog is about connecting people through art.
You can break the Artlog idea into four basic parts:
- Catalog: Discover new museums, galleries, alternative spaces and not-to-be-missed exhibitions, parties, openings and lectures
- People: The social layer tying the other parts together
- Focus: Tumblelog- Quick way to stay current
- Portfolios: Allow users to manage their own websites through the Artlog app

Concept Art Forum
http://www.conceptart.org
Conceptart.org is a web community of artists who are here for one purpose. We want to help each other learn about art, provide the best place to showcase work, further our art educations, and to meet other artists from around the world.

Fine Art Studio Online
http://www.fineartstudioonline.com
FineArtStudioOnline is a revolutionary web site creation tool that allows an artist to create his or her own art website in a matter of minutes!

How Artists Can Get Noticed NOW !!! Update 4 Feb 08

Well, I have come across some fantastic new promotional tools for artists in the last couple of months so it is time for another installment of “How Artists Can Get Noticed NOW!!!.

Art Review Digital:
http://www.artreview.com

artreview.com is an exciting new social networking site for the artworld, creating a global forum for discussion, interactivity and debate. Our members are artists, galleries, collectors, critics, curators and the curious. As a members of artreview.com, you can:-Post artwork, blogs, videos and audio and have members rate and comment on it
-Find exciting new artists from around the world
-Sniff through last night’s party pics and post your own
-Keep up to date with news and access ArtReview magazine archives
-Find the galleries that represent the artists with ArtFinder
-Create your own discussion groups and forums
-Promote yourself and make friends

Lab For Culture
http://www.labforculture.org

LabforCulture provides services to artists, cultural managers, producers, programmers, researchers and policy-makers.
We provide: -Information, research and analysis related to cultural cooperation and collaboration, including funding opportunities, critical perspectives, research, news, and contacts (organisations and networks).
-Online networking tools to enable and strengthen the capacity for cultural collaboration within the cultural sector.
-Promotion of the players engaged in cultural cooperation and their activities across Europe and beyond.
-Spaces for connections, exchanges and knowledge sharing between organisations and individuals.
-Platforms for discussion and discourse on current issues affecting the cultural sector.

Artmakr
http://www.artmakr.com

The Goal of artmakr, is to bridge the gap between amateur and hobby artist, and snooty art galleries. Artmakr aims to take the vast and barren middle ground. It is our Mission to provide resource and inspiration to help more people, make art, and get paid for it. As well as to encourage more people to buy original art.

I Send You This
http://www.isendyouthis.com

for the artist we provide:
-Own independent website: artist-controlled image and information upload.
-Promotion within the isendyouthis.com advertised and marketed website network.
-A secure credit/debit card payment facility that can be used in the studio or on-line.
-Art opportunity notification service
-Exhibition promotion service
-Gallery submission service
-Artwork cataloguing and sales recording
-Mailing list and press release services
-Work shown in online art galleries and online art fairs

The Art List
http://www.theartlist.com

Since 2003, TheArtList.com has been a leading online resource for visual artists and photographers
who are looking for income and exhibition opportunities to enter. TheArtList.com’s searchable database of art contest and opportunity announcements includes a wide spectrum of content submitted by art galleries, institutions and art organizations.

Time to get busy!!!

How Artists Can Get Noticed NOW !!! Update 3

I receive many emails from artist’s asking how they can get noticed by galleries and dealers so I created this post to give artist’s some ideas for ways to promote themselves. The popularity of this post has motivated me to update it regularly as I come across new websites that would be of help to artist’s trying to promote themselves. If you have any suggestions for websites for this post then please contact me via the contact form on this blog.Updated 25/12/07 Online Galleries:

Red Bubble:
http://www.redbubble.com

Art Mesh
http://www.artmesh.org
Invite only: http://www.wetcanvas.com/forums/showthread.php?t=462506&highlight=artmesh

Folio Snap
http://www.foliosnap.com

Merchandise:

Printfection
http://www.printfection.com

The Art Group
http://www.artgroup.com

Networking:

Digital Consciousness
http://www.digitalconsciousness.com/

Organization of Independant Artists
http://www.oiaonline.org/

Miscelaneous:

Fine Arts Title Registry
http://www.fineartstitle.com/artists.php
-Capture personal commentary about each work of art: collectors will cherish it and the art’s value will be enhanced
-Certify your work was brought to life through your own creative effort; sign the Registered Certificate to use as your Certificate of Authenticity
-Begin provenance in the online record; it is transferred to the buyer and remains with the work forever
-Document and track your entire inventory with offsite, secure records

International Registry of Artists and Artwork
http://www.iraaregistry.org/
The IRAA is an authority in the registration of professional artists and artwork, and as such, serves anyone interested in art – including museums, historians, commercial galleries, educators, collectors, archivists, scholars, fine art publishers, universities, curators, estate managers, students, art insurers, and of course, artists.

Fine Art Adoption Network
http://www.fineartadoption.net
FAAN is an online network, which uses a gift economy to connect artists and potential collectors. All of the artworks on view are available for adoption. This means acquiring an artwork without purchasing it, through an arrangement between the artist and collector. Our goal is to help increase and diversify the population of art owners and to offer artists new means for engaging their audience.

Artist Pension Trust
http://www.aptglobal.org
Artist Pension Trust® (APT) is the first investment program dedicated to the needs of emerging and mid-career artists. APT’s long-term financial planning services allow artists to invest their artworks alongside a community of select artists, thereby providing a uniquely diversified, alternative income stream

Update 9/8/07
I have received several suggestions of other websites where artists can promote their work so I have decided to add the new resources to the list. If you have any other websites that you think should be on the list then send me a message using the contact box.

For The Artists: GET NOTICED NOW!!

In response to a large number of artists asking me how to market their art I have decided to write a basic guide for artists on how to get noticed online. The internet has opened up endless opportunities for artists to promote and market their work but with so many avenues of exposure it can be difficult knowing which to utilise and which to avoid. To keep things simple I have created a list of the most important avenues of self promotion for artists and links to relevant resources.

Networking:
One of the most important avenues of self promotion for artists is the involvement in, and interaction with communities of artists. By networking with other artists you get the benefit of their experiences, expertise and contacts within the art market which could lead to opportunities to exhibit your work, sell your work or be represented by a gallery of dealer. The internet has allowed global communities of artists to come together through online forums and groups to promote their work and enhance their marketing skills. There are many online communities of artists the best of which are:

Wet Canvas: http://www.wetcanvas.com
Saatchi Online Gallery: http://www.saatchi-gallery.co.uk
Surreal Art Forum: http://www.surrealartforum.com
Artists Network: http://www.artistsnetwork.com
Art Span: http://www.artspan.com
Online Visual Artists: http://www.onlinevisualartists.com
EBSQ Art: http://www.ebsqart.com/forum/
Art Forums UK: http://www.artforums.co.uk
D’art Fine Art: http://dart.fine-art.com/MessageList.asp?intBoardID=7966
Deviant Art Forum: http://www.deviantart.com

Online Galleries:
Online galleries allow you to create your own online exhibition space and also offer your work for sale. Even if you don’t sell anything, having your work in an online gallery is great exposure. There are lots of online galleries many of which are not very good so below is a list of some of the better online galleries:

Yessy: http://www.yessy.com
Etsy: http://www.etsy.com
Art By Us: http://www.artbyus.com
Imagekind: http://www.imagekind.com
Absolute Arts: http://www.absolutearts.com/portfolio.html
Empty Easel: http://www.emptyeasel.com
Boundless Gallery: http://www.boundlessgallery.com
Ekaweeka: http://www.ekaweeka.com
Fine Art: http://www.fine-art.com

Competitions:
Art competitions are a great way of getting exposure for your work and allow you to compare your work against other artists. Below are some links to websites that list art competitions.

British Arts: http://www.britisharts.co.uk/competitions.htm
Art Deadlines List: http://www.artdeadlineslist.com/
Art Show: http://www.artshow.com
Saatchi Gallery Showdown: http://www.saatchi-gallery.co.uk/showdown/

Art Marketing Websites:
Art Biz Blog: http://www.artbizblog.com
Art Biz Coach: http://www.artbizcoach.com
Art Business: http://www.artbusiness.com
About Art: http://painting.about.com/

Blogs:
Another fantastic way to gain exposure is to create a blog that documents your career as an artist. Below are some links to free blog platforms:

WordPress: http://www.wordpress.com
Blogger: http://www.blogger.com

Merchandise:
Get your artwork printed on everything from mugs to t-shirts and even create prints of your work using these great customer merchandise creators
Cafepress: http://www.cafepress.com
Zazzle: http://www.zazzle.com
Finer Works: http://www.finerworks.com
Art Cards Wanter: http://www.artcardswanted.com

Happy Creating!!!

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Limited Edition Art Market Update – artmarketblog.com

Lot 39, VICTOR VASARELY, 'Kedzi' 1990

On the 3rd of June auction house Phillips de Pury held their third ever sale of Modern and Contemporary Editions in New York after achieving good results for both auctions dedicated to Modern and Contemporary Editions  in 2008. The affordability of limited editions should be a definite draw card in the current economic climate but the fall from favour that contemporary art has experienced of late would have increased the risk of a poor result.  With expectations high for their first Modern and Contemporary Editions auction of 2009 there was plenty at stake for Phillips de Pury.  To find out how they went, keep reading.

The first auction of Modern and Contemporary Editions held by Phillips de Pury in May 2008 was very successful resulting in a total sale value of US$2,688,288 (including buyers premium) for 134 lots and achieving a 92% sold by value rate and 86% sold by lot rate. One year later and the 2009 Modern and Contemporary Editions auction, held on the 2nd of June, achieved similar statistics as the 2008 auction with 90% sold by value and 88% sold by lot. This, however, is where the similarities end. For starters, the 2009 sale total of US$1,120,075 was less than half the 2008 total of US$2,688,288. If you are thinking that the 2009 auction must have been smaller than the 2008 auction then you would be wrong because in 2009, a total of 280 lots were auctioned compared with 157 in 2008. What this means is that although the sold by value and sold by lot rate were almost the same for 2008 and 2009, the value of the lots in the 2009 auction were much lower than they were in 2008. The average price per lot for each auction confirms this with the average price per lot in 2009 coming to US$4590 compared to an average price per lot of US$20,060 in 2008. An ever more revealing indicator of the difference between the two auction is the fact that in 2008 a total of 63 out of the 134 lots sold fetched more than US$10,000 whereas in 2009, only 18 out of the 244 lots sold fetched more than $10,000.

With a majority of the lots on offer selling for less than US$4000 and many selling for one or two thousand dollars there were plenty of works that were affordable to almost anyone. Because of the lower value of the works being sold it is likely that a majority of the buyers were either collectors or decorators as opposed to hard core investors or trophy hunters. This is a good sign that people still have a certain amount of disposable income and that they are willing to spend that money on art within reason.

The results of the 2009 Modern and Contemporary Editions auction shows that limited edition works of art remain popular especially those priced at less than $10,000. Although the lower number of higher priced works in this years auction compared to the 2008 auction could be perceived as being the result of a lack of supply, I doubt that this would be the case and would suggest that this was a deliberate tactic by Phillips de Pury to ensure a high sold by lot and sold by value rate. The general reduction in the amount of money being spent on contemporary art across across the board was reason enough to increase the number of lower priced works in the auction in order to avoid a poor result. By focusing on low value works, Phillips de Pury could have ended up with an auction of low quality works that were undesirable regardless of their low price. Instead it appears that Phillips de Pury deserve a round of applause for putting together a catalogue of top quality yet affordable works of art.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Herb & Dorothy – An Art Collector Documentary – artmarketblog.com

I was recently made aware of a new film that has just been released called Herb an Dorothy (http://www.herbanddorothy.com/) which is the true story of a postal worker and a librarian who built a world class art collection. Projects such as this can only have a positive impact on the art market and increase interest in art collecting so take the time to go and see a great (and award winning) movie while supporting the art market.

Details of movie below:

SYNOPSIS

HERB & DOROTHY tells the extraordinary story of Herbert Vogel, a postal worker, and Dorothy Vogel, a librarian, who managed to build one of the most important contemporary art collections in history with very modest means. They lived off of Dorothy’s salary and used Herb’s to collect art. They only had two requirements when purchasing art: the piece had to be affordable, and it had to be small enough to fit in their one-bedroom Manhattan apartment.

Over the decades they collected over 2000 pieces of art, (keeping all of it in their tiny apartment) and became patrons of artists including Sol LeWitt, Christo and Jeanne-Claude, Richard Tuttle, Chuck Close, Robert and Sylvia Mangold, Lynda Benglis, Pat Steir, Robert Barry, Lucio Pozzi, and Lawrence Weiner.

Credits include;

Herbert Vogel
Dorothy Vogel
Sol LeWitt
Christo and Jeanne-Claude
Richard Tuttle
Chuck Close
Robert and Sylvia Mangold
Lynda Benglis
Pat Steir
Robert Barry
Lucio Pozzi
Lawrence Weiner
Will Barnet

***********************************

Now playing

@ Beekman Theatre, NYC
@ Cinema Village, NYC

***********************************

Coming Soon to theaters Summer 2009.

- June 19~ at Landmark Ritz at Bourse, Philadelphia
- June 19~ at Landmark, San Francisco
- June 19~ at Landmark Shattuck, Berkeley
- June 27, 28 at The Guild Cinema, Albuquerque
- July 3~ at Landmark E-Street Cinema, Washington D.C.
- July 10~ at Landmark Nuart, Los Angels
- July 10~ at Landmark Kendall Square Cinema, Boston

Upcoming Screenings

= Taubman Museum of Art, VA: June 12
= Provincetown Film Festival: June 18-20
= Cinema Arts Center: June 25
= Criterion Cinemas: June 26
= Portland Museum of Art, Maine: July 10-12
= Denver Film Society Doc Night July 16
= Starz Film Center, Denver: July 17
= Miami Art Museum: July 19
= Oklahoma City Museum Of Art: July 23 -26
= Tower Theatre, Salt Lake City: July 31
= Seattle Northwest Film Forum: July 31
= Grand Cinema, Tacoma, WA: July 31
= Ogunquit Museum, Maine: August 4
= Aspen Film Series: August 16
= Corcoran Art Gallery, Washington DC: September 15
= Walker Art Center, Minneapolis: September 16
= Cincinnati Art Museum: September 18-20
= Museum of Fine Arts, Houston: September 26-28
= Wexner Center-Columbus, OH September 30

Past Film Festivals

* Big Sky Documentary Film Festival 2009
* Transylvania International Film Festival 2009
* Little Rock Film Festival 2009
* Marfa Film Festival 2009
* Newport Beach Film Festival 2009
* Independent Film Festival Boston 2009
* Riverrun International Film Festival 2009
* Philadelphia Film Festival 2009
* Sarasota Film Festival 2009
* FIFA: Festival International du Film sur l’Art, Montreal 2009
* Cleveland International Film Festival 2009
* Martha’s Vineyard Film Festival 2009.
* The Reel Artists Film Festival, Toronto 2009.
* Palm Springs International Film Festival 2009
* Hamptons International Film Festival 2008.
* Silverdocs AFI/Discovery Channel Documentary Festival 2008.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Investing in an Artist’s Oeuvre – artmarketblog.com

'Christie's Auction' by Thomas Rowlandson

When you invest in a work of art, especially by a deceased artist, you are essentially investing not in just one work of art but in the artist’s entire body of work which is known as an oeuvre. An oeuvre is defined by the Merriam-Webster dictionary as “a substantial body of work constituting the lifework of a writer, an artist, or a composer”. When it comes to documenting an artist’s oeuvre a publication called a catalogue raisonné is usually published which lists all known works by a particular artist. What I want to look at in this post is the rather important question of what should be included in an artist’s oeuvre and how what is included in an artist’s oeuvre can have an effect on the market for an artist’s work.

Considering that an artist’s oeuvre is supposed to be the entire body of work an artist produced throughout their career it would seem to make sense that every single piece of art they produced should be included. Or does it?. I recently spoke to the widow of one of Australia’s most famous and highly valued artists who was responsible for documenting her late husband’s oeuvre. Instead of just including everything in the oeuvre she undertook a very extensive examination of her late husband’s work and made decisions relating to what should and should not be included in the oeuvre. Her decisions were based on the theory that everything an artist produces is not necessarily produced as a work of art and should therefore not be included in a documentation of that artist’s body of work. An example was given where people who visited the studio of her late husband would take doodles or sketches out of the bin with the intention of selling them some time in the future. With many such pieces, which would be unsigned and undocumented, now infiltrating the market, the question of whether they should be included in the artist’s oeuvre becomes rather important. The reason it becomes important is because the size of an artist’s oeuvre can dictate how much demand there is for an artist’s work and also because what is included in an artist’s oeuvre can effect people’s perception of the artist’s whole oeuvre.

The oeuvre of the Australian artist used in the example I gave earlier is very small compared to other artists and is undoubtedly a contributing factor in the high value put on the artist’s work because a smaller oeuvre means that demand for an artist’s work is going to be higher because there are less works available on the market. Imagine for a second that an artist produced hundreds and hundreds of doodles and sketches that the artist did not intend to ever display or sell. Because the artist did no intend these pieces to be viewed or sold they are probably not going to be very good quality and are probably completely meaningless in the scheme of things as well as being worth very little. If hundreds of such pieces became available a whole market of lower priced, low quality and probably meaningless bits of paper would be created for that artist which would undoubtedly have an effect on people’s perceptions of the artist’s whole body of work. When it comes to the market for the artist’s work the addition of hundreds of meaningless, low value and poor quality pieces to those genuine works available on the market could change people’s perception of the value of the artist’s work as a whole.

I can understand why those in charge of artist’s estates go to such extreme lengths to protect the integrity and stability of an artist’s oeuvre because, when it comes to the work of deceased artists, the stability and integrity of the artist’s oeuvre has a strong influence on the value of an artist’s work and the way people perceive the desirability of an artist’s work. The estate of Jackson Pollock is a good example of an estate that is ruthless when it comes to protecting and preserving an artist’s oeuvre. The Pollock-Krasner foundation have produced a complete catalogue raisonne of Pollock’s work and will not allow any additions to that raisonne unless they are 100% certain that the work is genuine and that it is part of the artist’s oeuvre. Considering that Pollock is one of the most highly valued and desirable artists ever means that any alteration to the artist’s oeuvre could have major repercussions.

By not recognising pieces not meant to be viewed as works of art in the documentation of her late husband’s oeuvre the widow of the artist used in the example earlier is able to maintain the integrity and stability of her late husband’s oeuvre by ensuring that fakes are not recognised as genuine works and that works not meant to be included in the artist’s oeuvre are not not recognised as works of art. Maintaining the integrity and stability of the entire oeuvre will consequently have a positive effect on the integrity, desirability and value of each individual work. When investing in a work of art by a deceased artist it is always a good idea to do some research on the artist’s oeuvre to see whether it is managed by anyone and whether it is stable and has maintained it’s integrity over a period of time. It is also a good idea to make sure that if you are purchasing a work by an artist whose oeuvre has been documented in a catalogue raisonne that the work you are purchasing appears in that catalogue otherwise the work may be fake or may require authentication by the artist’s estate or by an authentication organisation. The moral of the story is that an artist’s oeuvre is very important to the value and desirability of an individual work of art so make sure you know what you are buying into especially if you are buying for investment purposes.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

1700 Times Estimate at Brunk Auctions – artmarketblog.com

"The Plasterers" by John Koch

Smaller auction houses rarely get the sort of attention given to the big four auction houses which is a shame because the smaller auction houses produce their fair share of exciting results and top sales.  Brunk Auctions, a North Carolina based auction house that sells fine and decorative arts as well as collectibles, ephemera and jewellery, recently had the sale of their lives when two seemingly ordinary pieces of Chinese ceramics sold at their May 9-10, 2009 Auction for what can only be described as astonishingly high prices.  The first piece, a Chinese famille rose vase described as a 20th century copy of a Qianlong period (1736-1795) piece, had been purchased from a yard sales by it’s owner and was given an estimate of $400 – $800.  At the fall of the hammer this apparently cheap knock off had sold for an incredible $1,075,000 or more than 1790 times mid estimate.  Obviously several people knew something about this piece that the owner and Brunk Auctions didn’t.  The next item was a Chinese decorated jar described as an 18th or 19th century copy of a Jialing period (1522-1566) piece and was given an estimate of $600 – $1,200. Once again the price headed north at a rapid rate finally settling at a dizzying $60,000 once again suggesting that several people knew something about this piece that the owner and Brunk Auctions didn’t.

Plenty of other items soared past their estimate at the same auction such as the Jean Dubuffet “Tapis” wool-pile carpet weave tapestry which sold for $11,000 against an estimate of $2000-$3000 and a Tamara de Lempicka print titled “Femme a la Mandoline” which made $10,500 against an estimate of $4,000 – $8,000. The high price for the de Lempicka print is likely to have been influenced by the new auction for the artist’s work set at Christie’s on the 6th of May as well as the number of other excellent results for the artist’s work sold at auction recently. Although selling for a price within the estimate a spectacular major work by the American Realist John Koch called “The Plasterers” sold for $210,000 against a $175,000 – $250,000 estimate which was still a good result. A revival in the interest of classical style sculpture is sure to have been a factor in the results for a marble bust of Prince Borghesi whcih trippled its high estimate selling for $12,000.

The following Brunk auction held on the 30th of May which included the collection of Florence and Bill Griffin produced some more outstanding results proving that smaller auction houses are capable of playing with the big boys. Art wise, two portraits by American folk artist Edwin B. Smith were highlights of the auction selling for well above their high estimate. The first, a portrait of Robert Ransome Billups sold for $80,000 against an estimate of $30,000 – $50,000 and the second, a portrait of Elizabeth Ware Fullwood sold for $36,000 against an estimate of $12,000 – $18,000. Edwin B. Smith is not a particularly well known or highly regarded artist on the world stage but is a very important artist to the area of Georgia, USA which was the theme of the auction and the home town of Florence and Bill Griffin. Furniture from the Georgia region also sold extremely well with the highlight being a fine Georgia paint-decorated cellaret or liquor stand which sold for $105,000 against an estimate of $30,000 – $50,000.

The internet has given smaller auction houses the ability to operate on a national or international level as is the case with Brunk Auctions who use liveauctioneers.com to accept online bids and promote their sales.  I am often surprised by the quality and rarity of the items that are sold by the smaller auction houses and would encourage everyone to take a greater interest in the smaller national and regional auction houses that operate in their area.  The advantage the smaller national and regional auction houses have over the big four is that they are more likely to come across those surprise objects that the owner does not know the value of or realise the significance of.  People who own very valuable works of art and know the value of those works of art are more likely to go to one of the big auction houses whereas someone who has no idea what an item they own is worth is more likely to take that item to a local auction house.  The moral of the story is that smaller auction houses are well worth keeping an eye on.

For more information see http://www.brunkauctions.com

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Buying Urban/Street Art Online – artmarketblog.com

'Not For Nothing' limited edition print by Borf available from lazinc.com

Urban/Street art is a great genre of art for collectors on a budget with such a wide variety of works by very talented artists available for very reasonable prices. What makes collecting Urban/Street art even easier is the huge number of online galleries that are dedicated to Urban/Street art. The big names such as Banksy, Nick Walker, Keith Haring, Adam Neate, Antony Micallef, Faile, Blek Le Rat, D*Face, Paul Insect, Invader, Shepard Fairey, Jef Aerosol etc. command pretty high prices for their original works but limited edition prints by most of these artists can be purchased for relatively reasonable sums of money.  If you want to buy a work by an emerging artist there are plenty of fantastic emerging urban/street artists who are producing fantastic work that just might be the next big thing. Because original works are, for obvious reasons, more desirable than limited editions, if your budget doesn’t stretch to an original work by one of the big names it is worth considering an original work by an emerging artist. At 1loveart.com, for instance, a range of original works by emerging artists are available for less than 500 pounds which is amazing considering the quality of work available.

To help those interested in buying or collecting Urban/Street art I have compiled a list of the best Urban/Street art online galleries. What ever your taste or budget you are sure to find something that interests you.

http://s-editions.co.uk/home.html

http://www.stolenspace.com/

http://www.blkmrktgallery.com/

http://www.airmonkey.co.uk/

http://www.papermonster.net/home.php

http://www.newimageartgallery.com/

http://www.lazinc.com/available-art/

http://www.handmadeposters.com/

http://printcave.co.uk/index.html

http://www.vegasstreetart.com/index.php

http://www.hanguppictures.com/

http://www.picturesonwalls.com/

http://www.urbanuprising.com.au/

http://www.blackratpress.co.uk/

http://www.1loveart.com/index1.html

http://rarekind.co.uk/category/shop

http://www.thebricklanegallery.com/

http://www.stelladore.com/

http://www.urbanangel.com/

http://stealfromwork.org/

http://www.littleartbook.com/

http://www.mutatebritain.co.uk/

http://www.prescriptionart.com/

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Affordable Photography at Troika Editions – artmarketblog.com

Sand Blaster By Bill Jackson

In August of 2007, Jen Bekman launched the online art store 20×200 (http://www.20×200.com) with a mission to make fine art available to everyone. Bekman’s concept of selling one print in a range of physical sizes and edition sizes at varying price levels caters to everyone from the serious collector to those who just want something to decorate their home. Each week two new works are released one of which is a photographic work and one of which is a work on paper. The prints range in size and price from 8″ by 10″ prints from an edition of 200 which cost $20 to 40″ by 30″ prints from an edition of 2 which cost $2000 with other options in between.

Jen Bekman’s US based 20×200 had the niche all to themselves until the UK based Troika Editions opened for business in April this year. Troika Editions is a new online gallery with a focus on contemporary photography which offers a new photographic image for sale each week made available as limited editions prints which vary in size, price and edition number just like 20×200. All their prints come with a certificate signed by the artist and a unique edition number which is what one would expect from anyone selling a top quality fine art edition. According to the Troika editions website “Each art work will be offered in the same three sizes, small, medium and large; in the same three edition runs of 300, 30 and 3; at the same prices of £35, £350 and £3500. All you have to do is decide which one you like.”

The artists whose work is chosen to be sold as limited edition prints by Troika are carefully selected by a curator because of their current success and future potential. The website states that “Troika Editions showcases exciting and beautiful work by photographers with a pedigree. These are the next photo stars; they have won awards, published books and had exhibitions. We believe they are artists to watch in the future”.  So far things look good for Troika editions with the current offerings appearing to be highly desirable and top quality. I’m a particular fan of the slightly eerie but very intriguing work ‘Sand Blaster’ by Bill Jackson (see image) who just won the silver award in the Royal Photographic Society 152nd International Print Exhibition. Jackson has a very extensive cv that includes lots of solo and group exhibitions as well as an impressive list of rewards which suggests that he is definitely an artist worth investing in.

To see all the works available from Troika editions visit http://www.troikaeditions.co.uk/

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Kees Van Dongen Revived and Revalued – artmarketblog.com

KEES VAN DONGEN (1877-1968) Le narrateur et Albert Bloch à la maison close avec le cachet de l'atelier 'Van Dongen' (en bas à droite) aquarelle, gouache et traces de mine de plomb sur papier 24.5 x 21.2 cm. (9 5/8 x 8 3/8 in.) Exécuté vers 1946-47

The first major retrospective held in North America of work by Dutch born French artist Kees Van Dongen (1877-1968) was held at the Montreal Museum of Fine Arts from the January 22 to April 19. This event is sure to have played a part in the exceptional results achieved by Christie’s for a collection of works by Van Dongen sold on the 20th of May as part of the Art Impressionniste Et Modern sale held in Paris. A total of ten watercolour paintings by Van Dongen were included in the sale the most interesting of which were eight works originally from the Proust collection which depict various different street and scenes of high society. Each of these scenes were painted by Van Dongen as illustrations for a famous book by French author Marcel Proust titled ‘A la recherche du Temps perdu’ (In Search of Lost Time). A total of 77 watercolours were painted by Van Dongen for the book which is a memoir/autobiographical novel that consists of seven volumes and a total of around 3200 pages. Making these paintings even more desirable is the fact that, according to Christie’s, they will be all included in the forthcoming Kees Van Dongen catalogue raisonne being prepared by Jacques Chalom Des Cordes under the sponsorship of the Wildenstein Institute. It is noted in the catalogue that an attestion of inclusion will be given to the buyer of each work.

Each of the eight illustrations by Van Dongen for the book by Proust had estimates of either €25,000 – 35,000 or €20,000-30,000. The least successful of the paintings still managed to exceed the estimate of €25,000 – €35,000 selling for €49,000 and the most successful of the paintings sold for more than five times the €30,000 high estimate reaching an amazing €163,000. According to Christie’s the main buyers were American and European collectors. The results for all eight works were as follows:

Lot 41, Sale 5563, Paris
KEES VAN DONGEN (1877-1968)Le narrateur et Albert Bloch à la maison close
estimate: €25,000 – €35,000
price realized €121,000 ($165,029)

Lot 42, Sale 5563, Paris
KEES VAN DONGEN (1877-1968)Gilberte Swann et des amies au Bois de Boulogne
estimate: €25,000 – €35,000
price realized: €139,000 ($189,579)

Lot 43, Sale 5563, Paris
KEES VAN DONGEN (1877-1968)Les Permissionnaires
estimate: €20,000 – €30,000
price realized: €163,000 ($222,312)

Lot 44, Sale 5563, Paris
KEES VAN DONGEN (1877-1968)La nouvelle Gilberte
estimate: €25,000 – €35,000
price realized: €151,000 ($205,945)

Lot 45, Sale 5563, Paris
KEES VAN DONGEN (1877-1968)Le Mariage de Robert de Saint-Loup et de Gilberte Swann
estimate: €25,000 – €35,000
price realized: €49,000 ($66,830)

Lot 46, Sale 5563, Paris
KEES VAN DONGEN (1877-1968)Le Baron Charlus à la gare de Doncières
estimate: €20,000 – €30,000
price realized: €109,000 ($148,663)

Lot 47, Sale 5563, Paris
KEES VAN DONGEN (1877-1968)Le narrateur avec deux servantes
estimate: €20,000 – €30,000
price realized €61,000 ($83,196)

Lot 48, Sale 5563, Paris
KEES VAN DONGEN (1877-1968)Robert de Saint-Loup et le Prince de Borodino chez le barbier de Doncières
estimate: €20,000 – €30,000
price realized: €85,000 ($115,930)

The major retrospective just held in Canada and the catalogue raisonne of his work that is in the process of being completed are all major milestones for the Van Dongen and his work. As one would expect, the market has reacted positively to these major milestones as well as the highly desirable provenance and also the connection with author Marcel Proust and his book ‘A la recherche du Temps perdu’. Kees Van Dongen was a highly regarded artist during his career but has been somewhat overlooked since his death. Consequently, Van Dongen is an underrated and undervalued artist whose work is only just starting to receive the recognition that it deserves.

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Asian Decorative Arts Fever at iGavel – artmarketblog.com

Chinese Imperial Bamboo Brushpot, 18th c.

Recent results from auctions of Asian art conducted by Sotheby’s in Hong Kong show that there is high demand for modern and contemporary Asian art and that there are plenty of Asian buyers with plenty of money to spend. Also proving popular are Asian decorative arts, Asian antique decorative cultural objects and ethnographic works of art, the best of which are in very high demand at the moment as is evident by the success achieved by iGavel (http://www.igavel.com) with their recent online auctions of such items. In fact, the prices being achieved by iGavel are astonishing. Take, for instance, an auction conducted by iGavel in March where a pair of large Chinese porcelain panels sold for US$16,000 (hammer price) against an estimate of US$500-$1000 and a Sino-Tibetan gilt bronze buddha made US$11,000 against an estimate of US$500.00 to 800.00. In April, an Antiques, Asian & Tribal auction produced even more astounding results with one of the top lots, a Chinese 17th/18th c. parcel gilt & polychromed iron seated figure of an immortal, selling for US$38,500 after 44 bids against an estimate of US$5000-7000. Also selling for many times their estimates were:
- A Chinese gilt decorated archaic style bronze water buffalo-form incense burner which sold for US$28,000 against an estimate of US$1000-1500
- A Chinese carved pale green jade teapot circa 18th which sold for US$19,900 against an estimate of US$3000-5000

Chinese White Jade Figure of Buddha

The May Asian, Ancient and Ethnographic Works of Art sale saw iGavel raise the bar even higher when a record price of US$105,010 (US$126,012.00 including premium) against an estimate of $80,000-$120,000 was paid for an amazing recently rediscovered Chinese 18th c. imperial bamboo brushpot that had been mounted as a lamp. Fierce competition saw the starting price of $7500 rapidly rise with a total of 51 bids being taken before a new buyer was found. Lark Mason, the founder of iGavel and an Asian art expert, was responsible for the identification of the brushpot which depicts the cultivation of cotton. It took 40 bids to decide a new owner for a modern gilt bronze figure of Maitreya which sold for US$21,000 against an estimate of US$3000-5000 and 21 bids for a Chinese 18th/19th c. White Jade Figure of Buddha, formerly of the Pan-Asian Collection, which reached US$13,500 against an estimate of US$2000-3000. Other exception results included:

-A set of ten modern Chinese celadon jade zodiac figures which sold for US$10,000 against an estimate of US$700-$900
-A 19th c. Chinese porcelain flambe glazed bottle vase which sold for US$8610 against an estimate of US$800-$1200
-A 20th C. Chinese spinach jade tripod censer and cover which sold for US$6500 against an estimate of US$500-$800
-A 20th C. Chinese carved green jade vase and cover which sold for US$5000 against an estimate of US$400-$600

According to iGavel, mainland Chinese buyers dominated the bidding which suggests that there is a high demand in China for objects that have cultural or historical significance for the Chinese and that there is plenty of money in China to purchase these items. Buying back objects of cultural and historical significance that have been taken out of the country appears to be high on the agenda for Chinese collectors in the same way that the Russian collectors started buying back their heritage a few years ago. It is encouraging to see that the global financial crisis appears to have not affected the market for art in the Asia region as much as many would have predicted and that buyers are showing an interest in a wide range of objects from the contemporary to the classical.

It is great to see that buyers are willing to spend so much money online via iGavel, a reflection perhaps of iGavel’s focus on quality and authenticity. The success that iGavel has had with their auctions of Asian art may be partly due to buyers in Asia being able to purchase items online all of which have guarantees for authenticity and condition. Also adding to the legitimacy of the items being offered for sale by iGavel is the fact that the founder of iGavel, Lark Mason, is a highly respected expert in the Asian Art field known to many from his appearances in the PBS series, The Antiques Roadshow. All in all, iGavel should be congratulated for the success that they achieve with their online auctions.

For more information on iGavel visit http://www.igavel.com
**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.

Sotheby’s Contemporary Art Surprises – artmarketblog.com

Alexander Calder Ebony Sticks in Semi-Circle 1934 $3,498,500 Sotheby’s New York May 12, 2009

I always find it interesting to look at the lots from a particular auction that achieved prices well in excess of expectations because I find you can tell a lot about market trends and the state of the market for particular types of work from this information. The recent May contemporary art auctions were especially important because of the impact that the global financial crisis and subsequent art market correction has had on the market for contemporary art. It is immediately evident from the results that buyers are paying less for works of art and spending less on average on works of art but this comes as no surprise as the market begins to adjust to the new reality of the market for art. Now that the market is showing signs of stability there is a new benchmark beginning to develop that we can use to track trends, assess auction results and determine what direction the art market is heading. I don’t think that the art market has quite finished finding it’s feet but judging by the recent auctions we are not far off.

Looking at the lots that exceeded expectations from the Sotheby’s Contemporary Art Evening and Day sales that took place on the 12th and 13th of May can tell us several things about the market for contemporary art. First of all, buyers still have confidence in the work of the worlds top contemporary artists and are willing to pay good money for quality works by these artists within reason. Works valued up to the US$1,000,000 mark seem to be very popular at the moment with healthy competition for works and buyers appearing to be quite comfortable purchasing at this price range. Seven of the eight highest achieving works from Sotheby’s evening sale of more expensive works had high estimates under $1,000,000. Even more popular are original works of art with estimates up to the $100,000 with competition for the best works by the big names producing some great results. Seven of the eight highest achieving works (hammer price compared to estimate) from Sotheby’s day sale of lower priced works had high estimates under US$100,000. As you can see from the results below there was far more competition for less expensive works (under $100,000 especially) from Sotheby’s day sale than there was for more expensive works from the evening sale. It is also pleasing to see that works by up and coming contemporary artists are also seeing plenty of action provided that they are under the $100,000 mark.

Surprise Results from Sotheby’s Contemporary Art Auctions:

Sotheby’s Contemporary Art Evening Auction May 12

Lot 4: Andy Warhol ‘Kellogg’s Cornflakes [Los Angeles Type]
sinkscreen on plywood
Estimate: $200,000-$300,000
Hammer Price: $400,000

Lot 5: Dan Colen ‘Untitled (Blow Me)’
oil on canvas
Estimate: $100,000 – $150,000
Hammer Price: $320,000

Lot 15: Alexander Calder ‘Ebony Sticks In Semi-Circle’
wood, steel and string standing mobile
Estimate: $1,000,000 – $1,500,000
Hammer Price: $3,050,000

Lot 25: Gerhard Richter ‘Mirror Painting (Blood Red)’
pigment on glass
Estimate: $600,000 – $800,000
Hammer Price: $1,100,000

Lot 35: Richard Prince ‘Can You Imagine’
acrylic and silkscreen on canvas
Estimate: $600,000 – $800,000
Hammer Price: $1,150,000

Sotheby’s Contemporary Art Day Auction May 13

Lot 104: Alexander Calder ‘Untitled’
painted metal and wire standing mobile
Estimate: $150,000 – $200,000
Hammer Price: $270,000

Lot 111: David Hockney ‘Aubergine’
pastel and colored pencil on paper
Estimate: $15,000-$20,000
Hammer Price: $39,000

Lot 119: Philip Guston ‘Untitled’
ink on paper
Estimate: $200,000 – $300,000
Hammer Price: $340,000

Lot 131: Alex Katz ‘Folding Chair’
oil on canvas
Estimate: $60,000-$80,000
Hammer Price: $120,000

Lot 158: Lucio Fontana ‘Concetto Spaziale Attese’
waterpaint on canvas
Estimate: $100,000 – $150,000
Hammer Price: $220,000

Lot 162: Robert Mangold ‘Plane Figure Study A (Double Panel) Study
acrylic and black pencil on canvas
Estimate: $150,000 – $200,000
Hammer Price: $250,000

Lot 173: Lee Ufan ‘From Line, No. 78154′
pigment suspended in glue, on canvas
Estimate: $50,000-$70,000
Hammer Price: $100,000

Lot 176: Elsworth Kelly ‘Light Green Panel’
painted aluminium
Estimate: $70,000 – $90,000
Hammer Price: $130,000

Lot 185: Andy Warhol ‘Untitled (Diamond Dust Shoes)’
acrylic and silkscreen on canvas
Estimate: $80,000 – $120,000
Hammer Price: $180,000

Lot 194: Andy Warhol ‘Camouflage’
silkscreen on paper
Estimate: $12,000 – $18,000
Hammer Price: $32,000

Lot 198: Andy Warhol ‘Look Years Younger’
graphite on sketchbook paper
Estimate: $10,000 – $15,000
Hammer Price: $34,000

Lot 203: Andy Warhol ‘Detail of the Last Supper’
synthetic polymer paint and silkscreen ink on canvas
Estimate: $80,000-$120,000
Hammer Price: $180,000

Lot 209: Tom Wesselmann ‘Upside Down Blue Nude #2′
oil on canvas
Estimate: $220,000-$280,000
Hammer Price: $340,000

Lot 230: Neil Jenney ‘Saw and Sawed’
acrylic and graphite on canvas in artist’s frame
Estimate: $180,000-$250,000
Hammer Price: $420,000

Lot 305: Jr ‘Favela’
chromogenic print on metallic paper mounted on aluminum
Estimate: $10,000-$12,000
Hammer Price: $20,000

Lot 339: Damien Hirst ‘N-T Boc-L-Alanine N-Hydro Ester’
household gloss on canvas
Estimate: $20,000-$30,000
Hammer Price: $42,000

Lot 364: Makoto Saito ‘Portrait of Laurence (Recognition)’
acrylic and oil ink on canvas mounted on wood
Estimate: $150,000-$200,000
Hammer Price: $280,000

Lot 400: William Kentridge ‘Anamorphic Drawing’
charcoal on paper in Plexiglas box, stainless steel cylinder on steel support
Estimate: $15,000-$20,000
Hammer Price: $26,000

Lot 428: John Currin ‘The Living Room’
ink and watercolor on paper
Estimate: $20,000-$30,000
Hammer Price:$60,000

Lot 450: Barbara Kruger ‘Untitled (Open Wide)’
photographic silkscreen ink on vinyl
Estimate: $50,000-$70,000
Hammer Price: $120,000

Lot 451: Barbara Kruger ‘Untitled (We Are Transformed Into Special Effects)’
unique photographic montage in red painted artist’s frame
Estimate: $60,000-$80,000
Hammer Price: $110,000

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.