The Dallas News is excited that among the 100 or so galleries from nearly 40 countries that will be at the Dallas Art Fair is Gagosian and Per Skarstedt. They could have added Lehmann Maupin, Perrotin, Marlborough Contemporary, Massimo de Carlo and dozens more:Continue Reading
The Australian Financial Review has art adviser Mark Hughes’s take on the most recent Art Basel Hong Kong. Hughes has attended the fair in all of its incarnations charting the growth of the collecting base’s knowledge and familiarity:
Participating galleries from the West also had to undergo a major re-boot – learning that their artists, famous in their respective regions, were in this region unknown. They had to learn to communicate more openly, and to provide information even on a basic level – with wall labels in English and Chinese and so on. All the “rules” of the standard art fair experience (sales to professional collectors early on, then quiet public weekends) were turned upside down. But the hard work by fair organisers and galleries has paid off and Renfrew’s prediction was right. In five years the fair has established a clear identity, and 2017 heralded the true arrival of Art Basel Hong Kong in all its glory.
Art Basel Hong Kong grows up (afr.com)
The South China Morning Post reports that Mainland Chinese art collectors are having a harder time buying art in Hong Kong this week due to stricter capital controls:
“The impact of [capital controls] is very significant if you want to buy more paintings,” said Laura Chen, who came to the fair from the mainland.
That is because Chinese nationals are only allowed to convert and freely remit up to US$50,000 or its equivalent per year, an amount that can easily be breached with just a few artworks. A larger amount would need approval from SAFE. The implementation of the policy has also recently become stricter.
So how are they dealing with the problem? Reuters says they’re paying in installments with 40% of dealers having to accept payment beyond 2 months leading to these awkward situations:Continue Reading
Clare McAndrew’s new art market report, co-published (whatever that means) by ArtBasel and UBS, has been released. It features a closer look at art galleries and how they conduct their business. The data was gathered through an online survey of approximately 1100 dealers and in-depth, in-person interviews with a smaller number of galleries.Continue Reading
The New York Times’s report from Maastricht does its best to put a bright face on the fair but a somber tone keeps slipping in. Here’s Scott Reyburn’s take in a paragraph:
“It seems a lot more local this year,” said the London dealer Richard Nagy, a specialist in modern German and Austrian art, echoing the observation by other exhibitors that the Tefaf 2017 crowd was dominated by middle-aged European visitors. With few affluent Americans, Asians and Russians attending, sales were down for many of the dealers interviewed for this article.
Tefaf Maastricht, While ‘Softer,’ Still Impresses (The New York Times)
A Dutch news outlet confronts the change of play in the Old Masters market since the discovery of several exceptionally good forgeries that are roiling the private market. The unexpected twist is that Sotheby’s has stolen a march on the market and now threatens to overshadow the trust in dealers:
“Collectors are being given the impression that it’s safer to buy art at an auction house than at a fair: at least an auction house will pay compensation if it’s a forgery,” says one insider.
Today’s opening of TEFAF in Maastricht, the world’s leading Old Master fair, puts this in sharp relief. It also raises the issue of TEFAF’s vetting and whether the fair’s vetting protects buyers:Continue Reading
Alexander Forbes of Artsy opens his preview of the new, new Armory Show, a fair that has struggled to define itself in the new era of global art fairs, with this frank description:
“The yardstick when I came in was getting to the level of a Basel fair,” says Benjamin Genocchio of his remit one year ago when he became director of The Armory Show. The 47-year-old former art journalist came out swinging for the Swiss mega-fair and for Frieze. But in the weeks before the 2017 edition of The Armory Show, the first that truly bears his signature, a more demure Genocchio has emerged—and with him a revised strategy for the fair that he says plays to its strengths while rethinking what it means to be relevant in the current market. […]
NBC has some of the numbers on this year’s Zsona Maco:
[T]he fair now attracts about 50,000 visitors and exhibitors from more than a dozen cities, from New York to Madrid and Berlin to Buenos Aires. The works displayed represent more than 120 international galleries and more than 1500 artists.
Artsy’s Molly Gottschalk gathered sales from Zsona Maco in Mexico City last weekend:Continue Reading