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FT Says Pinault Sold London’s $9m Ghenie in London

November 11, 2016 by Marion Maneker

adrian-ghenie-nickelodeon-1-1-5m-gbp

Some of the speculation about Adrian Ghenie owners has put the finger on Dean Valentine as the consignor of Christie’s The Bridge, which has become the source of some anticipation to see of the artist can repeat the success of last month’s sale in London of Nickelodeon. Speaking of which, the Financial Times’s Melanie Gerlis identifies the seller:

The lucky seller of that Adrian Ghenie painting at Christie’s in London last month was François Pinault, who owns the auction house through Groupe Artémis. The work — “Nickelodeon” (2008), guaranteed by a third party — soared ahead of its £1m to £1.5m estimate on October 6 to sell for a record £6.2m (£7.1m with fees). The work was priced in five figures when it originally sold to Pinault in 2008-9, through Haunch of Venison gallery, which Christie’s owned at the time.

The Art Market: uncertainty in New York, sales in Turin (Financial Times)

Adrian Ghenie ‘s Bridge to Nowhere

November 8, 2016 by Marion Maneker

adrian-ghenie-the-bridge-1-5-2-5m-usd
Adrian Ghenie, The Bridge (1.5-2.5m USD)

The New York Times claims to tell us how Adrian Ghenie became an auction star citing a grab bag of vague factors like the popularity of painting (as opposed to …?), a limited output, no competition from masterpieces, a good price point and a bunch of rich Asians champing to buy.

Somehow that constellation of facts has made Ghenie this decade’s Peter Doig (whose market was detonated by a bidding war among oligarchs a decade ago.) That may be so. But why Ghenie? Is it the Pinault connection with the artist having had a 2011 show at Palazzo Grassi?Christie’s did particularly well with Ghenie capping a year’s worth of rising prices with a $9m sale in London during Frieze week.

As one of Ghenie’s dealers, Thaddaeus Ropac points out in the Times story. Right now Ghenie needs more museum support than more auction sales. The Hamer bought two of the painter’s works in 2008 and Ghenie had a pavilion at the Venice Biennale which is probably the ground zero for this year’s auction A-bomb (being the right combination of curatorially driven event that doubles as a marketing opportunity.)Continue Reading

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