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Label: art fair

Wednesday 07th September 2016Art Fairs Go Digital

The art world is always in need of a shake-up. Whenever things get too settled down, by that point a changing of the guard is already long overdue. In what you would call 'industries', this phenomenon has come to be known as 'disruption', the latest buzzword that everyone needs to have a piece of in order to secure venture capital. While artists would never admit to it, the art world is an industry as much as any other - and so it is also subject to disruption.
 
That's where art fairs came into play. During the '00s and early '10s, the entire art world was shaken to its core by the sudden explosion of art fair popularity. Suddenly every single city with any kind of notable artistic community had to have its own art fair. Celebrities flocked to them, and so did artists and patrons. The gallery world was in disarray, and the auction world felt the rumblings of change.
 
So naturally, it was only a matter of time before the art fair world in turn was ready for disruption. Enter the Digital Madrid Art Fair!
 
Wait, what?
 
Yes, you read that right. While it's not immediately clear why it needs to have a specific location associated with it, the fifth iteration of a digital art fair has just launched. Founded by Kadeem Fletcher in 2014, version 5.0 just launched on June 16 of this year. Originally started featuring exclusively computer generated images, the project was such a success that it has grown dramatically to include photography, illustration, and fashion design - while still maintaining touch with its roots in the digital art world.
 
Speaking to the blog The Creators Project, Fletcher explains: "I have the foundation for delivering ideas and products, and I definitely use the skills that I've learned in school to better any creative situation I am in."
 
It's not really related to Madrid at all, which is arguably a bit of a weak spot in the marketing side of things, but then again Madrid represents a grounded physical location that those who are on the edge of taking the digital plunge can relate to without straying too far outside their comfort zone.
 
While it  may be savvy marketing, is it savvy art? That really depends on what you think about the nature of art, and the nature of disruption. It could be argued that even the most basic disruption is actually an art form because it requires a deep and intrinsic understanding of something before a new reaction is created.
 
If that isn't true art, what is? 

Posted on September 07th 2016 on 07:44pm
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Friday 29th May 2015Incredible New Auction Sale Record

While it seems like the entire art world is abuzz about art fairs lately, the auction world is still going strong and setting new records of its own all the time. The big Western auction houses, Christie's, Sotheby's and the lot are regularly being joined by new auction houses in emerging markets in rapidly developing nations such as China, India, and the United Arab Emirates. The older houses still seem to be the reigning champions when it comes to sales records, as we saw over the course of May when a brand new auction record was set at Christie's.

The auctioned piece that set the new world record was Women of Algiers (Version O) by Cubist master Pablo Picasso, one of the pioneers of the entire Cubist genre. The work, which was completed on February 4, 1955, is an oil on canvas piece featuring the characteristic bright colours and blend of organic and geometric shapes that are the hallmarks of the Cubist movement. The final auction price? A whopping $179.4 million USD. This makes it not just the record for a Picasso, not just the record for a painting, but the record for any piece of art ever sold at an auction in the world. (See the painting to the right, courtesy of Christie's.)

That's not the only thing that's stunning, though. This individual record sale was part of a larger week-long auction series put on by Christie's which featured artists from the 20th century, and included many of the biggest artistic names of the century. Aside from the Pablo Picasso mentioned, Claude Monet, Marcel Duchamp, René Magritte, Egon Schiele and Piet Mondrian were among those on the block. The final total for the works that changed hands? $1.4 billion US dollars. Yes, billion with a 'b'.

Perhaps auctioneers aren't going to be so worried about art fairs after all, if they keep consistently breaking their own records. Naturally, art from such established masters is an excellent investment that is virtally guaranteed to appreciate in value for those who have the initial capital – after all, it's like real estate – it's not like those old masters will be making any more of it. Perhaps there is room for auctions and art fairs to co-exist, as they tend to operate in slightly different areas of the market, but much of the smaller business that was once the bread and butter of the auction house has moved away to the art fair – we'll do a bit of research to see what the record sale made at an art fair is!

Posted on May 29th 2015 on 03:41am
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Friday 22nd May 2015Art Fair Popularity Still Growing

Art fairs are the hottest thing happening in the art world right now, and unless you've been living under a rock with earplugs in, you've probably noticed that they seem to be popping up everywhere. From Basel, Switzerland to Miami Beach, Florida to Hong Kong, China to just about everywhere in between, art fairs are rapidly becoming the hottest place for collectors to buy art, no matter if you're an amateur building their first collection or a professional speculator looking to grab some original work by an up and coming young artist before sale prices really take off.

One of the most interesting things about the art fair, well, 'movement', for lack of a better term, is that it's no longer limited solely to the type of large, global cities mentioned earlier. Smaller cities around the world are getting in on the action, as evidenced by the latest art fair in North America to get some serious traction, which is located in Vancouver, Canada. Not to say that Vancouver doesn't have the potential to be a world-class city, but its art fair is simply not at the same scale as the others we've mentioned – although this could be set to change. With nearly 180 art fairs taking place each year around the world, the popularity of the style is dramatically expanding each year, and as long as organizers, galleries, collectors and visitors are eager to get involved, smaller fairs like Art! Vancouver are likely to continue to expand as well.

In fact, art fairs have become so popular in recent years that in 2014, total sales from art fairs around the world topped $13.3 billion dollars. While that doesn't really hold a candle to the kind of sales that are still being generated by the more traditional auction house system, it should still be making auctioneers a bit nervous. If small fairs like Art! Vancouver can survive their first couple of years and make it to the big leagues, then the entire auction paradigm might be on it's way out, with the exception of the very highest priced items that are too valuable to be sold in the fair environment.

As Art! Vancouver director Lisa Wolfin said, “If Basel can do it for 40 years, Vancouver can too. It’s a matter of starting and building.” She's probably right – as long as the local and global art communities stay involved! If you hear about a local art fair in your community, why not stop by and support local artists? It's fun, and you might find your own work there one day!

 

Posted on May 22nd 2015 on 05:24pm
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Friday 17th April 2015Affordable Art Fair in Asia

As you've no doubt heard us discussing before, art sales are going through the roof globally, and whether you think the market is in a bubble at the moment or not, global art sales topped $54 billion USD last year and show no signs of slowing down, let alone signs a bursting bubble. That being said, however, most of these sales are of the incredibly high-ticket variety, leaving smaller artists in the lurch.

Naturally, art fairs (another fever that has gripped the art world lately) are a great way for aspiring and undiscovered artists to make contact with a public hungry for original artwork yet unable to foot huge purchase prices. That original goal, however, has been slightly superseded by the buzz that now goes along with art fairs. Take a look at Art Basel in Miami Beach recently, where the stories quickly became about the celebrities who attended rather than about the art itself, and when celebrities arrive, prices skyright.

Will Ramsay, the founder of the Affordable Art Fair, hopes to balance the popularity of the art fair model with the original accessible nature of an art fair. Originally starting out in London in 1999, the Affordable Art Fair has since expanded to 17 cities, and is finding a foothold in the burgeoning Asian art market. Asian expansion started in Singapore with just shy of 10000 visitors, and has since expanded to two fairs a year with over 31000 visitors. The pieces are generally priced starting from $100 USD but not topping $10,000, ensuring that most people will be able to find an original piece that suits their taste.

Speaking to the BBC, Ramsay explained the motivations behind the start of his business, saying, "I used to go to galleries in my early mid-20s, and I felt I was not being helped to learn about art, to understand and to realize that I could afford it, so I thought let's try and democratize it, open it up to a new customer base, and so we want people to come here to realize that you don't have to be a squillionaire to buy art, you don't have to know anything about art to buy it. We're very visually tuned in through magazines, and good cinematography in films, and all that sort of thing, so our taste is more developed than you might think, even if you haven't bought anything before."

While it's less likely that the average buyer is going to see the kind of appreciation on their investment that someone buying a Picasso or a Rembrandt would receive, there is still a tantalising possibility that the original art piece you buy will one day become incredibly valuable.
 

Posted on April 17th 2015 on 06:25pm
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Labels: art fair, asia

Saturday 06th December 2014Picasso Stolen from Miami Art Fair

Art fairs are becoming de rigeur in the modern art world, growing to replace all the traditional gallery models in terms of popularity and sales volume in a very short time. It seems like popularity isn't the only thing that they're growing in, however, as this year a piece was stolen from a prominent Miami art fair - just probably not the one you're thinking of. Art Basel in Miami Beach is in full swing, but they're not the ones who have had something stolen, as it turns out. A smaller art fair, Art Miami, is the center of the theft, which occurred in the last few days.

Leslie Smith Gallery's booth at the fair was showing a number of pieces by famed Cubist Pablo Picasso, including the artifact that was stolen, Visage aux Mains (Face with Hands, 1956), a silver plate about 17 inches in diameter. Valued at roughly $85,000 USD, the piece is the first the gallery owner has ever had stolen, whether from an art fair or not. Classified as a grand heist by the police due to the value of the work, the current theory seems to be that the thief had little to no knowledge of the art world and the vagaries of its pricing models, as a much more expensive ceramic piece, also by Picasso, was hanging directly below the stolen silver plate.

Currently, the market for Picasso ceramics is in quite a boom, meaning that the thief is likely unaware of the intricacies of art and likely wanted it for its silver value - a mere $400 USD. It is possible, of course, that they simply wanted the piece itself and have no plans to resell it or melt it down, but until the thief is caught nothing can be said for sure. The organizers of the fair have offered a $5,000 reward for the return of the piece, no questions asked..A statement was sent to artnet news by fair director Nick Korniloff, emphasizing this:
    We have issued a $5,000.00 reward for the return of the work with no questions asked—based on our own internal conclusion that whomever took the piece knows nothing about art and took it based on the fact that they thought it to be solid silver. [...] It makes absolutely no sense that this work would be targeted by anyone with knowledge of art. We hope that the piece is returned to the owner to preserve the existence of the work for future generations.

Here's hoping they get it back!

Posted on December 06th 2014 on 03:54pm
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Wednesday 26th November 2014Art Basel in Miami

We've frequently discussed the recent worldwide trend towards the art fair, and how it's growing to supplant traditional gallery sales. Some gallery owners absolutely love it, and some gallery owners find it crude and tasteless, but no matter which side of the fence you're on, it's impossible to deny that they have taken centre stage in the art world. Popping up in cities all over the world, the art fair has become a staple. Arguably, the fair that started it all, Art Basel, is just about to launch its next iteration in Miami.

Art Basel Miami may seem a bit of a confusing principle - after all,  Basel, the town which the fair is originally named for, is located in Switzerland, hardly the same type of environment as Miami. However, that may be its strongest selling point, as it also has a regular branch in Hong Kong. The Miami fair seems to be a relatively unique event, though, growing to become the newest must-be-there party slash mardi-gras slash celebrity birthday bash, where star-spotting is easier than spotting the next up and coming artist. In fact, the art almost seems to get lost behind the headlines that grab viewers, usually about which celebrities flew their private jets there, who they met, who they fought with, and so on and so forth.

The effect it's had on Miami itself is a rather remarkable one, however. Craig Robins, one of the people who were instrumental in launching the Miami branch of Art Basel, told the Guardian recently, “The idea that a city can market itself around culture was launched in Miami. We’ve tried to integrate the art side into the business side, and success there gave us capital to do more culturally.”

There was, of course, some resistance at first, especially from the mayor of Miami in the 1990s, who couldn't envision an art fair - so Don and Mera Rubell, collectors who are also movers and shakers in the Miami art scene, sent him to Basel to see the fair first hand: “Money, visibility – he saw what a huge scene it was. You have to remember that art is now global and art fairs are the only way to connect.”

It's become so popular there's even a name for the impact the fair has had on development around the city: the Miami Effect. Not exactly creative, perhaps, but the developments sure are.

Posted on November 26th 2014 on 04:32pm
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Friday 13th June 2014Auction House Competition

The art world is famous for price tags as lofty as the masterpieces they represent. Staggering prices are commanded every time a famous work changes hands, and even the members of the public who aren't the target market are fascinated by the eye-popping sums. In the past, however, this type of big ticket sale has always been the province of the auction house; the Sotheby's, the Christie's, and occasionally a private sale brokered by a top-tier gallery. However, at the latest art fair in Basel (which we discussed previously in our post about the best cities for art lovers), an incredible challenge to the supremacy of the auction house has appeared.

New York is unquestionably the American centre for art auctions (and arguably the world centre as well, though doubtless many in London would disagree), and during May of this year, $2.2 billion USD worth of art sales took place during the course of two weeks. Unquestionably an impressive figure, but the Art Basel fair that just finished up recently featured 285 galleries and dealers selling a whopping $4 billion USD worth of art. In fact, on the very first day of the fair alone, over $55 million dollars worth of sales had been made - by only 11 galleries.

A piece by Jeff Koons, the subject of one of our recent artist spotlights, was sold for $5 million, but the true sales crown belonged to a famous piece by famed Pop Art paragon Andy Warhol, a pink-tinted self-portrait of the artist wearing his infamously iconic fright wig which sold for a whopping $32 million USD, which equals the record price ever achieved at an auction house for a Warhol self-portrait.

So what does this really mean for the auction house world paradigm? In the long run, probably not a great deal. Art sales are a very unique type of commerce, and the auction house is unlikely to be completely replaced by the art fair, but it will definitely have to step aside to make room. There is little doubt that the snobbery traditionally associated with the auction house will push some away, but at the same time, it provides a different experience to the mad rush of the art fair. Even though digital downloads essentially killed the record store, a comparable situation isn't likely to occur in the art world. Art fairs and auction houses may be selling the same calibre of piece, but the experiences they offer are sufficiently different - and the demand for artwork so voracious - that they will likely co-exist for a long time to come yet.

Posted on June 13th 2014 on 05:05pm
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Monday 30th December 2013London Art Fair 2014

If you happen to find yourself in London in the middle of January, be sure to take some time to drop by the annual London Art Fair, being hosted at its usual residence in Islington, the Business Design Centre. There are several new features this year, as well as the return of a few old favourites, but most notable this year is the participation of the Hepworth Wakefield.

In case you're not up on the UK gallery scene lately, the Hepworth Wakefield is one of the most exciting new galleries around, based in Wakefield, West Yorkshire. The building was designed by famous British architect David Chipperfield for an impressive £35 million, but the cost was easily vindicated by the impressive attendance numbers racked up in the first 5 weeks it was open, with over 100,000 visitors gracing its halls. The Hepworth Wakefield's contribution to the London Art Fair will be an exhibit titled 'Barbara Hepworth and the development of British Modernism' curated by Frances Guy, Head of Collections.

Many other galleries from around the world will also be contributing various exhibitions, including a presentation of 1950s Japanese avant-garde group GUTAI by the Whitestone Gallery out of Tokyo, which recently concluded a major exhibit of the works at the Guggenheim in New York City. Nearly 100 galleries in total have contributed works to be exhibited, ensuring the London Art Fair's place as one of the largest exhibitions of its kind in the United Kingdom.

Among the returning favourites this year are the 'Art Projects' and 'Photo50' sections of the fair. This year, Art Projects will be curated by Adam Carr, who has acted as guest curator at the Kadist Art Foundation, Paris, and Castello di Rivoli Museum of Contemporary Art in Turin, Italy. This year, the focus will be on collaborative and interactive pieces from galleries around the world, many of which will be working together for the first time. Photo50 will be curated thisd year by Charlie Fellowes and Jeremy Epstein, both of whom are directors of the Edel Assanti Gallery. The exhibit is entitled 'Immaterial Matter', and explores the increasingly blurry distinctions between the digital world and the material world.

The London Art Fair is open from Wednesday, January 15 until Sunday, January 19, with tickets at the door costing £17.00 (although you can save yourself £2 and buy online in advance for £15.00), and children under 12 can attend for free.

Posted on December 30th 2013 on 11:58pm
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Labels: art fair, london
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