Donald Judd “Taken for Granted”—MoMA to Tackle Retrospective

Judd_portrait

The New York Times announces a new retrospective of Donald Judd’s work in 2017:

in the fall of 2017, the Museum of Modern Art will take on the thorny task of a Judd retrospective. It will be the first American survey of his work since 1988 and will occupy not only the large second-floor contemporary galleries but also the museum’s atrium. Ann Temkin, the museum’s chief curator of painting and sculpture, will organize the show, which she described as overdue partly because Judd’s work has become so iconic that its power and influence have been obscured.

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Global Association Seeks to Raise Private Museum Game as Governments Look to Private Collectors

Yuz Museum

The FT reports on the new association of private museums that will begin to help owners of private museums to coordinate everything but especially to begin to share shows. This is especially important in Asia where governments are addressing the absence of a museum infrastructure, especially for Contemporary art, by harnessing the private sector which heretofore has lacked the institutional sophistication of public museums.

Twenty-three museum owners from the US and Europe, China, Indonesia, Dubai, Turkey and Mexico are aiming to share expertise about acquiring works or curating skills, as well as to boost the prominence of their exhibitions by sharing works and even whole shows.

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The Almighty Dollar Sign Is Stronger in London

Dollar Sign Sale

Perhaps the only interesting thing about the sale of 21 dollar sign themed art works that are valued around £41-57m is that it is being held in London:

The centrepiece of the collection is a group of seven works by the US pop artist Andy Warhol. These include the first of his series of “dollar” paintings and the only one that he painted entirely by hand. “One Dollar Bill (Silver Certificate)”, painted in 1962 at the beginning of Warhol’s rise to fame, is estimated at £13m-£18m. Other works in the sale, “To the Bearer on Demand”, include those by Keith Haring, Joseph Beuys, Tim Noble and Sue Webster, and Scott Campbell.

Cheyenne Westphal, Sotheby’s co-head of contemporary art, said Warhol’s obsession with money was “prophetic” for a market that had seen values rise steeply in recent years. “Andy Warhol in the early 1960s took on the subject matter — which is pretty much our current conversation of today — of art and money.”

The paintings were acquired over 30 years by a European collector, who is thought to have worked in financial services. Sotheby’s declined to give details of the vendor, who wishes to remain anonymous.

Source: Money as art: £50m dollar-themed collection goes under the hammer – FT.com

Guarantees: Essential Ingredient for Art Market Apocalypse or Long Bull Run?

Mick Frahm's Instagram of Sotheby's 515

Scott Reyburn is still mining the subject of guarantees with a look at their importance to the New York sales. Guarantees are upsetting the traditional art world but he closes with a long-term art market player predicting a long bull market in art. For some this will be the sign we’re at a top; for others, just the beginning:

“It’s about banking, not art, whether for asset allocation purposes or protective currency movement,” said the Dallas collector Howard Rachofsky, a former hedge fund manager, […] As prices continue to escalate, Mr. Rachofsky predicted, “great stuff will come” on the market.

When will the party end? Not soon, market insiders say. “It will last forever, with ups and downs,” said the French collector Steve Rosenblum.

Wealth, Mystery and Huge Profits at Recent Art Sales  (NYTimes.com)

Sotheby’s American = $38m

Sotheby’s Traces the History of Abstraction Through Latin American Art

Torres-GarciaLygia Clark

This promotional video from Sotheby’s does a nice job of drawing a line between the recently rediscovered European movements like the Zero Group and the immense popularity of Lucio Fontana with Latin American abstraction:

Axel Stein, Head of Department, Latin American Art, introduces Sotheby’s upcoming auction, Latin America, The Legacy of Abstraction. The sale— inspired by the 100th anniversary of Kasimir Malevich’s ground-breaking work, The Black Square—features a diverse array of works by artists such as Carlos Cruz-Diez, Narciso Debourg, Lucio Fontana, Joaquín Torres-Garcia, Mathías Goertiz, Jesús Rafael Soto and Mira Schendel.

LA Modern Sells $3m including Calder for $826,250

Calder, Quatre Blancs (500-700k) 826,250 USD

TOP LOTS:

  • Alexander Calder, Quatre Blancs (1976), (Lot 167, est. $500,000–700,000) realized $826,250
  • Andy Warhol, Campbell’s Soup I portfolio (1968), (Lot 180, est. $400,000–600,000) brought $481,250
  • Pablo Picasso, Fish Service (1947), (Lot 150, est. $75,000–100,000) sold for $93,750
  • Billy Al Bengston, Augies Riviera Dracula (1972), (Lot 117, est. $70,000–90,000) fetched $87,500
  • Pablo Picasso, Bull turned pitcher (1955), (Lot 151, est. $50,000–70,000) realized $68,750
  • Andy Warhol, Mao (1973), (Lot 182, est. $25,000–35,000) realized $50,000
  • Andy Warhol, $ (1973), (Lot 181, est. $35,000–45,000) realized $43,750
  • Sam Maloof, Rocking Chair (executed 2009), (Lot 29, est. $35,000–45,000) brought $42,500
  • Tony Duquette, Six panel screen (designed c. 1994), (Lot 47, est. $12,000–15,000) realized $37,500
  • Vasa, Group of four towers (1976), (Lot 63, est. $8,000–10,000) totaled $37,500