February 3rd, 2012

DG STATUS UPDATE

People frequently ask me what I am working on. My business by its nature is discreet. Despite this blog and my presence in the social media, I tend to be reserved in describing my activity.  However, as Facebook has proven, the era of sharing reigns. Here is a brief status update.

Robert Mapplethorpe, "Calla Lily", 1984, 9/10, gelatin silver print, 26 x 22"

I’ve just completed a three-year project for a client in which I resold a group of 14 pieces that I had previously acquired for them. Net proceeds to the client exceeded $5 million and represented more than double the initial investment. Works included emerging artists and blue chip favorites such as Gerhard Richter, David Smith and Louise Bourgeois. The iconic photograph above by Robert Mapplethorpe was part of the collection.

Amy Ellingson, "Untitled", (straight/curved yellow, black, orange), 2003, oil & encaustic on canvas, 30 x 132" (detail), acquired for Neiman Marcus, San Francisco.

While my clients are almost exclusively private individuals, I have been a consultant to Neiman Marcus for more than 10 years. Neiman’s art collection features abstract painting from artists in the communities across the country where their 42 stores are located. A new store in Walnut Creek will open next month. For that location, I arranged 4 commissioned artworks including the amazing kinetic sculpture on the exterior of the building by Ned Kahn. In addition to my own blog, I write for NM Daily, Neiman’s blog, which features articles on fashion, food and culture.

Here is the video of “Wind Fins” in action. There are three phases to the video, so watch until the end!

Mark Twain, "The Adventures of Tom Sawyer", early edition

In December, I had an opportunity to enter into the realm of rare book collecting. A longtime client for whom I acquire paintings and photographs wanted to begin a rare book collection for her young son. As a Christmas gift, we acquired several rare books by Mark Twain, including an illustrated edition of “The Adventures of Tom Sawyer” from 1910.

"Have Gun-Will Travel" featured Richard Boone as Paladin, a gunslinger for hire who also enjoyed gourmet food and the opera. The show was a top-rated Western series from 1957-1963.

My motto, a la Paladin, is “Have Gun Will Travel”. If a project has integrity and involves high quality art, I’m there.  Speaking of travel, I’m headed to Palm Springs for Modernism Week and a private tour of Sunnylands, the Annenberg Estate in Rancho Mirage, which opens to the public shortly. March brings the Armory Show and the multiple treasures of New York.  Lastly, in the realm of performance art, don’t miss “Pina” , the academy award nominated dance film in 3D by Wim Wenders.

DOROTHY GOLDEEN ART ADVISORY
A consultancy in modern and contemporary art, guiding clients with
access and expertise, throughout the international art community.

Please contact us to learn more about the Advisory and how we can be of assistance to you in the acquisition or resale of the best in modern and contemporary art. 


January 23rd, 2012

JANUARY 2012: Time to Invest?

Roy Lichtenstein, "I Can See the Whole Room...", top selling lot at Christie's 2011 for $43,202 million; top lot at Sotheby's, Clyfford Still for $61,682 million

As the New Year horns sound, January streaks out of the blocks. PST exhibitions at the museums continue, gallery openings abound and the art fairs jockey for calendar space. The press is full of analysis of last year’s winners and losers in every realm. Art has been declared a winner. The Mei Moses World All Art Index (MMAI) which tracks art sales across several categories, indicates that art returned 10.2% in 2011, trouncing the S&P’s zero growth. Even Time Magazine hosts an article in their Jan 30 issue touting the amazing growth and profitability of the art market. Citing wealth diversification, emerging market participation, particularly China’s, and the bonus of social cache, investing in art is the place to be.

Zhang Daqian (1899-1983) total auction sales of $506.7 million in 2011, displacing Picasso as top seller

Art can certainly be a lucrative investment.  However,  acquiring artworks with investment potential requires sophisticated knowledge, due diligence and sometimes privileged access to opportunities, similar to the stock market.  While art risk and return may not correlate with equities, neither guarantees a profitable investment.  Record prices at auction are generally awarded to sanctioned artists of historical significance, for works from the artist’s strongest years of production with favored style or subject matter. These works are of limited availability, in perfect condition and fresh to the market. Because these characteristics are rare, more people with increased wealth are ready to pay bigger prices. The cycle continues upwards. The press sells the story to the public.

Damien Hirst, "Spot Painting", on view at Gagosian Galleries world wide

Financial gain from selling art is wonderful.  I seek it for my clients and on my own behalf.   However, I also lament the absence in headline articles of any mention of the intangible benefits in acquiring and living with art: the intellectual, emotional and spiritual gift inherent in the best work. Investment, branding and global reach are increasingly prized. Art’s commodification is complete. What could be further proof than Damien Hirst’s Spot paintings in all 11 of the Gagosian Galleries?

This brings me to the art fairs here in Los Angeles this January. Art Fairs have proliferated and for many are the preferred and often only venue in which art is viewed for purchase.  Time and convenience are of the essence.  Art Fairs may be enjoyable and functional, but they are a challenging environment in which to hone the eye.

The odds of ferreting out quality and a potentially investment-grade artwork is greatly enhanced by the excellence of the fair’s exhibitors. In fairs like Art Basel Miami or Switzerland, the vendor quality is meticulously vetted and consistently high, so buyers are greatly assisted in their search. However, in a fair like the LA Art Show, it’s a very mixed bag.  The organizers did strong publicity, had significant sponsors and a worthy charity for the gala opening night.  They provided a solid lecture series and filled the convention center space. But where’s the beef? Works of merit were in short supply; the vendor level was exeedingly uneven.

The IFPDA section of the fair is limited in scope, but is of good quality. The Fine Art Show had some pleasing pictures. But the LA Art Show, the primary draw, continues to disappoint. I went in with low expectations so I was less depressed than in years past. Now that the show has been acquired by the organizers of Art Miami, let’s hope it perks up in the future.

DuYanFang photograph at ME Photo Gallery booth, LA Art Show

Among the highlights at the LA Art Show was Jack Rutberg’s booth. It featured works by Patrick Graham and Hans Burkhardt as well as an editioned Jasper Johns flag of note. Jonathan Novak Contemporary presented works by Sam Francis, among others. The Paul Thiebaud Gallery is a reliable source for Wayne Thiebaud paintings and prints.  Among the overseas galleries, ME Photo Art Gallery from Beijing brought some of the new young photographers from China. The Chinese artists have been doing excellent photography for over two decades. While these works have been collected by institutions in the West, it is an undeveloped area of collecting for the Chinese. This is beginning to change slowly inside China and we will undoubtedly be seeing more work on our shores.

Art Los Angeles Contemporary housed many of the best Los Angeles galleries with a smattering of exhibitors from elsewhere. It was a small show with an emphasis on younger, edgier work.  There was no pretense.  It’s a fair where one can look, learn and acquire a potentially rising star at a reasonable price.  As for investment, be sure to also buy what you love…

Gusamo Cesaretti, photograph, at Roberts & Tilton

Regarding highlights around town, I’ll mention just two that illustrate the vast range of offerings. Roberts & Tilton has a fascinating show of vintage photographs by Gusmano Cesaretti. Curated by Aaron Rose, the show includes 24 unique prints that feature the East Los Angeles sub-culture of the 1970’s. The night of the opening, the Klique Car Club had some of their hottest rides parked out front in all of their glory – a great display of passion and pride.

Peder Mork Monsted, Painting of a Nubian, ca 1900, Weisman Museum, Malibu

At the opposite end of the aesthetic spectrum, the Frederick R. Weisman Museum at Pepperdine just opened “The Epic and the Exotic: 19th Century Academic Realism from the Dahesh Museum of Art” in New York. These 32 paintings are romantic, skillful, idealized pictures that epitomize the values of their time.  Another kind of fantasy.

Duane Valentine, Museum of Contemporary Art, La Jolla

Jennifer Steinkamp, Museum of Contemporary Art, San Diego

Lastly, “Phenomenal: California Light, Space, Surface” at the Museum of Contemporary Art in La Jolla and San Diego is arguably the quintessential show of the Pacific Standard Time initiative, among the mainstream offerings.  As indicated by the title, it showcases the unique contribution of Southern California artist’s in the 60’ and 70’s in their exploration of  light and space as manifest  in objects and installation.   Their legacy is powerfully brought forward in the  dazzling room installation by Jennifer Steinkamp that accompanies the show.

 

DOROTHY GOLDEEN ART ADVISORY
A consultancy in modern and contemporary art, guiding clients with
access and expertise, throughout the international art community.

Please contact us to learn more about the Advisory and how we can be of assistance to you in the acquisition or resale of the best in modern and contemporary art. 

December 8th, 2011

ART BASEL MIAMI BEACH: THE TENTH YEAR

Photo Shoot at Art/Public, Collins Park

Amidst the swirl of the art fairs, museum shows, private exhibition spaces, parties and flagrant consumption, the rage of discontent finally hit print. Adam Lindemann shouted a boycott of the fairs in his New York Observer article on November 29. Charles Saatchi decried the hideousness of the art world on Friday, Dec 2. In the Art Newspaper, Swiss-based collector, Bijan Kherzi, claimed the art world “has been hijacked by the very same forces that poisoned the world of finance”. While newbies are awed by the splash of the fairs, the seasoned and sophisticated are swearing it’s the last time for them. And yet, the beat goes on.

Klara Kristalova, ceramic, Galerie Emanuel Perrotin, Paris

The art world as manifest in Miami is a microcosm of the global art world. The game is being played at many different levels of access, knowledge and complexity. At Art Basel, the most prestigious contemporary galleries in the world vie for the wealthiest and most savvy collectors around the globe. The works on offer are spectacular at breathtaking prices. At the satellite fairs, galleries seek recognition for themselves and their artists, with the hope of enough sales to at least cover  their expenses. Amidst the gaiety and sunshine is an underlying tension for everyone to go, look, see and spend. It’s a big shopping trip.

Ai Weiwei, sculpture from found trees, Galerie Urs Meile, Beijing- Lucerne

Everyone agrees that Art Basel is a visual feast at the highest level. After that, everyone disagrees as to which other fairs have merit. To some extent it depends on when one arrives, one’s energy level, the layout of the fair, the level of crowding, and how accessible is the food, water and restroom.

Jeremy Thomas, polychromed corten steel, Charlotte Jackson, Santa Fe

After Art Basel, Art Miami has the widest range of established galleries. Although there is a great deal of decorative and unchallenging work, serious work can be found. JGM Galerie from Paris presented works by Tracey Emin, Erwin Wurm and Tony Oursler. Barry Friedman from New York showed extraordinary furniture by artists such as Ingrid Donat, worthy of the Design Miami Fair. Charlotte Jackson of Santa Fe had several polychromed sculptures by Jeremy Thomas.

Gabriel Hartley, Foxy Productions, New York

Nada is my favorite fair for younger work from edgier galleries. Eleven Rivington from the lower east side in New York is a perennial favorite. Foxy Productions, also from NYC, was a discovery two years ago in Basel Switzerland. Once again I found their artist, Gabriel Hartley, to be a standout. This is a fair where you want to arrive first thing for the preview before the crowds become overwhelming or go much later when the crowd has thinned. Of course, by then, you will miss the hot bargains like the terrific gold flags by Andrew Schoultz at Locust Projects.

Shahzia Sikander, detail, Todd Hosfelt, San Francisco-New York

Scope and Pulse are dominated by less sophisticated work. I find much of it gimmicky or trendy. But exceptions can always be found. At Pulse, Todd Hosfelt of San Francisco and New York, offered a seminal work on paper by Shahzia Sikander. Daniel Weinberg of Los Angeles, hosted a booth of small gems by Lee Bontecou, Darby Bannard, and James Siena.

Thomas Houseago, Rudolf Stingel, De La Cruz Collection

Aaron Curry, Albert Ohlen, De La Cruz Collection

Among the private collection spaces open to the public, the most rewarding was the De La Cruz collection located in the Design District. Despite being three floors of institutional-type space, the collection maintains the sense of welcome and personal distinction that was the hallmark of the collection when it was viewable in the De La Cruz residence. From Rudolf Stingel to Gabriel Orozco to Sterling Ruby, there was pleasure in examining many of the individual works.

Beatriz Milhazes, Fondation Cartier

The Design District in Miami has some of the best furniture and design showrooms in the country. The Holly Hunt showroom is always a knockout. Special projects spaces also abound. This year Brazilian favorite, Beatriz Milhazes, was commissioned by the Fondation Cartier to do a special project titled “Aquarium”. It is a dazzling mobile composed of pearls and precious discs reminiscent of her paintings and collages and perfectly attuned to the tenor of Miami and the Fair.

Shepard Fairy, mural, Wynwood Kitchen and Bar

In addition to the surfeit of art, culinary sustenance is abundant around town. My favorite dinner this year was at Ola at the Sanctuary Hotel in Miami Beach. It features spectacular Latin American cuisine. For lunch or anytime, in the center of Miami’s emerging gallery district, is the festive Wynwood Kitchen and Bar. Replete with murals from Shepard Fairey and cohorts such as Kenny Scharf and Ryan McGinness, this is a great spot for small plates, an exotic beer or a sinful Dulce de Leche.

There is so much going on in Miami during the Fair period, it is literally impossible to see everything. Most of us burn the candle at both ends and then crawl onto the return flight home. Until next year…

DOROTHY GOLDEEN ART ADVISORY
A consultancy in modern and contemporary art, guiding clients with
access and expertise, throughout the international art community.

Please contact us to learn more about the Advisory and how we can be of assistance to you in the acquisition or resale of the best in modern and contemporary art. 

November 4th, 2011

MARFA, TEXAS

Donald Judd, indoor installation, aluminum, Chinati Foundation

The Chinati Foundation in Marfa, Texas, is one of the great pilgrimage sites in the contemporary art world. Founder and artist, Donald Judd, conceived it as a place to integrate art, architecture and nature. It began with permanent large-scale installations of his own work as well as work by Dan Flavin and John Chamberlain. By Judd’s invitation, it grew to include other artists such as Ilya Kabakov and John Wesley. Each artist’s work is installed in separate buildings or rooms, maximizing their individual vision and aesthetic.

Hiroshi Sugimoto, temporary exhibition, Chinati Foundation

Temporary exhibitions by artists who were meaningful to Judd add to the elaborate presentations.  On my recent visit, Hiroshi Sugimoto had a sublime installation which coincides with his concurrent show in New York at Pace Gallery.  There was also a tightly curated show of sculpture by Jean Arp.  While Judd disliked abstract art resembling the figure, he admired Arp’s sculpture for its sense of “wholeness”, a quality Judd sought in his own work.

Dan Flavin, installation, Chinati Foundation

John Chamberlain, Chinati Foundation

Judd was a forward thinker and planner. He first visited Marfa in 1971. After initial support from the Dia Art Foundation in New York, the Chinati Foundation opened to the public in 1986 as an independent, non-profit, publicly funded institution. It covers 340 acres on the site of former Fort D.A. Russell and also includes some buildings in the center of town. Fort D. A. Russell was an American military installation active in various forms from 1911-1946. Beginning in 1949 it was divided and sold to local residents. Dia assisted Judd in acquiring the land in the late-seventies. He renovated the buildings but kept their initial footprints.

Donald Judd, permanent installation, The Block

In addition to Chinati, one can visit the Judd Foundation, site of Judd’s former residence called “The Block”. It includes his extensive art library and studio buildings along with additional permanent installations of his work. Here one fully experiences Judd’s artistic development and his intense preoccupation with material, form, space and color. He was a driven man of vast appetite and ambition which is evident in the legacy he has created. Judd passed away in 1994 at the age of 66.

Ballroom Marfa, downtown Marfa

Ballroom Marfa is another stop of note. An encompassing space for all things contemporary, it supports projects of cultural significance that would be difficult to realize in traditional gallery or museum spaces. The mandate is broad, hosting both emerging and recognized artists, based locally and internationally.

Marfa is a three hour drive in the high desert from either the El Paso or Midland airports. A long way from the desolate town first encountered by Donald Judd, Marfa now hosts serious restaurants and a few good places to stay. Hotel Paisano is a National Historic Landmark that was headquarters for the cast and crew of  “Giant”.  Restaurant Cochineal, whose predecessor was Etats-Unis in Manhattan, is one among several that offer upscale dining.

Elmgreen and Dragset, "Prada Marfa'

As for shopping, check out Prada Marfa. Created by artists Elmgreen and Dragset, it is the consummate send-up of global branding.  A permanently installed sculpture, it sits smartly in the middle of nowhere, 37 miles northwest of Marfa.

Unique automobile, Marfa

Of course, getting around in style is always in fashion.  Our Suburban felt pretty plain next to this ride.

 

DOROTHY GOLDEEN ART ADVISORY
A consultancy in modern and contemporary art, guiding clients with
access and expertise, throughout the international art community.

Please contact us to learn more about the Advisory and how we can be of assistance to you in the acquisition or resale of the best in modern and contemporary art.