your money, your life, your choice ・ the painting that did not sell

The painting that did not sell.

While there may be a well-established “cartel of taste” (see Anna Louie Sussman’s article “Why You Can’t Always Buy a Work of Art Just Because You Have the Cash,” @artsy, 12 December 2018), market stakeholders can and sometimes do display independent judgment.

Gerhard Richter’s “Schädel” (oil on canvas), the first of a series of eight skull paintings painted in 1983, was held in the same collection for 30 years after a last public exhibition in 1988.

Based on a photograph taken by Richter himself, the painting demonstrates a “dialogue between painterly abstraction and photo-realist representation that had been simmering across separate stands of Richter’s practice for nearly two decades.”

This painting led the Post-War and Contemporary Art Evening Sale held at Christie’s London on 4 October 2018.

With an unpublished estimate, the painting was expected to sell for between £12 and £18 million (US$15 – US$23 million).

Bidding reached £11.5 million. The painting was not allowed to change hands.

Note also the instance of Edward Hopper’s 1972 painting, “Portrait of an Artist (Pool with Two Figures)” that sold at Christie’s in New York on 15 November. It closed narrowly, at what may have been a precisely agreed threshold of $80 million – with what appeared to be Christie’s bidding against itself to reach the sales price.

See:

Why You Can’t Always Buy a Work of Art Just Because You Have the Cash,” Anna Louie Sussman, Artsy, 12 December 2018

Seen for the first time in 30 years: Gerhard Richter’s ‘Schädel’ (‘Skull’),” Christie’s

Gerhard Richter ‘Skull’ to Headline Christie’s Sale in London,” Fang Block, Barron’s, 4 September 2018

Rare Richter’s a Bust, but Christie’s Moves $25.9 M. Bacon, $21 M. Fontana at London Sales,” Judd Tully, Artnews, 4 October 2018

 

Art Basel ・ Joan Mitchell

Reports from this year’s Art Basel indicate how well the works of artist Joan Mitchell (1925-1992) are performing.

Joan Mitchell’s “Composition” of 1968, is reported to have been sold by gallery and dealer Hauser & Wirth to a European collector for $14 million.

Marion Maneker of Art Market Monitor suggests the “sale was arranged before the fair and concluded upon viewing.”

Nate Freeman of Artsy reports the following market-oriented observations:

“‘It was obviously a time for a correction in perception, and in price, for her – as with a lot of women.'”

Iwan Wirth, co-owner, Hauser & Wirth

“‘When you have a strong market force, the prices change – shortly, we’re going to see $20 million to $30 million Mitchells.'”

Brett Gory, co-founder, Lévy Gorvy

Gorvy observes that Mitchell (who spent much of her life in France) has long been collected by the Germans and Swiss.

“‘The new interest is everywhere else – we’ve been showing her in the Basel art fair for years…. There’s a hunger in the market. She’s being recognized as one of the greatest Abstract Expressionists, and it helps that now there’s all this interest in art made by women.'”

Howard Read, gallery co-owner, Cheim & Reid 

“‘I think they could be $30 million or $50 million. If Franz Kline can be, why not Joan Mitchell?'”

John Cheim, gallery co-owner, Cheim & Reid

 

See:

At Art BaselOpening, a Pair of $14 Million Joan Mitchell Sales Shows Surge in Market for Women Artists,” Nate Freeman, Artsy, 12 June 2018;

Art Basel Sales Report,” Marion Maneker, Art Market Monitor, 12 June 2018

 

#art #artmarket #artbasel #joanmitchell #abstractexpressionism #contemporaryart #postwarart #collection #collector #collectionsmanagement #newyork #london #zurich #vienna #oslo #amsterdam #dubai #hongkong #seoul #tokyo #luxury #architecture #design #realestatedevelopment

Hans Hofman ・pictorial space & the hidden inherent laws of the picture surface.

Across time, space, and generations, the magic and spirit of Hans Hofmann, teacher to many, continues.

A composition of warm and vivid hues, geometric blocks of color, a surface that is rich in both visual and textural details, highlighting the materiality and thickness of the paint and the flatness of the canvas.

“Into Outer Space,” Hans Hofmann (oil on panel, 1957), at the Chrysler Museum of Art, Norfolk, VA (Gift of Walter P. Chrysler, Jr., 1971)

Action painter? Abstract expressionist?

“While critic Robert Coates first used the term Abstract Expressionism in his review of Hofmann’s 1946 solo exhibition at the Mortimer Brandt Gallery in New York, histories of postwar American art, have always focused on the youth, vitality, and uniquely American experiences of the generation of artists who matured in the 1940s.”

Lowery Stokes Sims, former Curator of 20th Century Art at The Metropolitan Museum of Art and organizer of the exhibition of 1999, “Hans Hofmann at the Metropolitan Museum of Art“.

Hofmann does not fit the narrative of such postwar histories. Born in 1880, Hofmann immigrated to the US from Germany in 1932 when in his fifties, developing a new style and creating a whole new body of work in his seventies and eighties.

During the course of his life Hofmann was a contemporary of and acquainted with Picasso, Braque, Matisse, and the Delaunays (both husband and wife). He had a lifelong interest in nature, science, music, poetry, and science. He crossed more significant barriers, national and aesthetic, than almost any other twentieth-century painter.

He was never a follower, nor an expressionist, fauvist, a cubist, or a surrealist.

I am often asked how I approach my work,” Hofmann wrote in 1962 on the importance of the act of painting.

“Let me confess: I hold my mind and my work free from any association foreign to the act of painting. I am thoroughly inspired and agitated by the actions themselves which the development of painting continuously requires….This seems simple but it is actually the fruit of long research”

H. Hofmann, “Hans Hofmann on Art,” in Art Journal, Vol. 22, Spring 1963, p. 18; quoted in Lot Essay, Hans Hofmann, “Auxerre,” Lot 36B, Christie’s, Post-War and Contemporary Art Evening Sale, New York, 13 May 2015

William Chapin Seitz, the first scholar to receive a PhD from Princeton University in the field of modern art (it took him more than a year to convince the Princeton art history graduate committee that the work of living artists was a topic worthy of graduate study) and formerly Associate Curator of Painting and Sculpture Exhibitions at New York’s Museum of Modern Art, organized the 1963 MoMA exhibition, “Hans Hofmann”.

Dr. Seitz observes,

“When one looks back at the years after 1945, when the “New American Painting” was taking form, it is apparent that one of its aesthetic determinants was the desire felt by many artists to incorporate in their work tendencies of style and feeling previously thought to be contradictory. Both the temper of Hofmann’s mind and his supranational development led him in this direction.”

It has been said that Hofmann is an “automatic” painter; he has also been called an “action painter” because of his direct enactment of emotional content. Yet his automatism has never been mere psychic catharsis, his activity is never purely physical, and his fury, like his delicate lyricism, is that of nature as well as himself. And even in the most passionate of his works the adjustment of formal relationships can be as precise as in the compositions of Mondrian or Malevich.”

Hofmann admired Mondrian for the purity of his abstract structure. He admired Kandinsky — whom he once called an “anti-plastic” painter — for his automatism and fluid color.

The architectural basis of his own painting derives from a study of Cezanne, and from cubism, yet (at least in his representational paintings).

By synthesizing such diverse materials, Hofmann developed his own metier: the unhampered autonomy of lines and planes; the elevation of color to a primary means; the maintenance of clear “intervals” between color planes; the preservation of physical gestures in pigment. He cast aside the dross of systematic perspective, tonal modeling, literature, and illusionism.”

Hans Hofmann with selected writings by the artist,” William Chapin Seitz, The Museum of Modern Art, 1963

Believing in the innate integrity of the pictorial space, Hofmann theorized the “push and pull” within a painting, describing how he used balance and contrast between colors and forms to create pictorial dynamism. Rejecting the traditional practice of creating depth through graduations of tone, Hofmann created space without denying the flatness of the picture’s surface.

Hofmann wrote in a late essay,

“Pictorial space is an aesthetically created space and is as such as real as nature. Its reality is based on the reality of the hidden inherent laws of the picture surface.”

H. Hoffman, quoted in S. Hunter, Hans Hofmann, New York, 1963, p. 44.

See:

Hans Hofmann with selected writings by the artist,” William Chapin Seitz, The Museum of Modern Art, 1963.

Hans Hofmann,” September 11 – December 1, 1963, The Museum of Modern Art

William C. Seitz: Defending the Modern,” The Museum of Modern Art

Hans Hofmann at the Metropolitan Museum of Art,” April 13 – October 17, 1999,

Hans Hofmann at the Metropolitan Museum of Art,” exhibition catalogue, Lowery Stokes Sims, 1999.

“Post-War and Contemporary Art Evening Sale,” Lot 36B, Hans Hofmann’s “Auxerre,” Christie’s, New York, 13 May 2015, Lot Essay

“Post-War and Contemporary Art Evening Sale,” Lot 20B, Hans Hofmann’s “Lava,” Christie’s, New York, 15 November 2017, Lot Essay

#art #artmarket #arthistory #history #hanshofmann #science #physics #pictorialspace #modernart #postwarart #contemporaryart #picasso #braque #delaunay #matisse #mondrian #malevich #jacksonpollock #actionpainting #abstractexpressionism #met #metropolitanmuseumofart #moma #museumofmodernart #christie’s #germany #newyork #sanfrancisco #london #berlin #oslo #vienna #milan #dubai #hongkong #seoul #tokyo #architecture #design #luxury #urban #urbanliving #realestatedevelopment

Gutai masterpiece ・ Sadamasa Motonaga’s “Work 145” of 1964

Art Basel opens in Switzerland next week.

London-based Alexandre Carel, former Christie’s Paris wunderkind, Stanford MBA, summer intern in real estate at New York-based, global investment firm KKR (Kohlberg Kravis & Roberts; KKR manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit and, through its strategic partners, hedge funds),

and Paris-based gallery Natalie Seroussi are collaborating to curate a booth

exploring post-war Asian and European abstraction.

Carel and Seroussi’s catalogue “Lands of Abstraction,” prepared for their Art Basel joint exhibition, explores abstract movements that arose almost simultaneously in Asia, Europe, and the United States – all of which “matured in parallel to one another.”

Among the many masterpieces on view will be Sadamasa Motonaga’s almost nine-foot “Work 145” of 1964. Asking price: $5 million.

Sadamasa Motonaga (元永 定正, 1922-2011) was a founding member of Japan’s Gutai Art Association (1954-1972).

His “Work 145” of 1964, last shown in New York at the Guggenheim Museum during the 2013 exhibition “Gutai: Splendid Playground,” reflects Gutai’s deep connection to nature, the process of art making, and life-affirming rationale

Carel and Seroussi write:

“Literally translated as ‘concreteness,’ Gutai’s intention was to impart life to matter and reach pure creativity.

“To artists such as Sadamasa Motonaga …, this goal could only be attained by way of a deep connection between the artist’s hand and his spirit.”

See:

  1. Massive Motonaga Stars at Carel & Seroussi Booth at Art Basel,” Marion Maneker, Art Market Monitor, 5 June 2018;
  2. 2) “Lands of Abstraction,” Natalie Seroussi Galerie, Paris & Alexandre Carel, London, Art Basel Highlights, June 2018

 

 

#art #arthistory #artmarket #artbasel #gutai #guggenheim #guggenheimmuseum #postwarabstraction #abstraction #japan #natalieseroussi #alexandrecarel #stanford #stanforduniversity #mba #collection #portfolio #collectionsdevelopment #environmentalcollectionsmanagement #co2 #nature #basel #newyork #london #paris #zurich #milan #dubai #hongkong #tokyo #seoul #asia #europe #tech #luxury #design #realestatedevelopment #entrepreneur #investments #investor #privateequity #energy #infrastructure #realestate #credit #hedgefunds

Zao Wou-ki’s “29.01.64” (oil on canvas, 1964)

abstraction | a kind of inner imaginary landscape

The grand and bold “29.01.64” (the date of its completion; oil on canvas) sold at Christie’s Hong Kong in May 2017 for $19.7 million, then an auction record for the artist, “to bidders who clearly wanted this picture.”

Zao Wou-ki (1920-2013) moved to Paris from Beijing, where he was born, in 1948, began working with New York dealer Samuel Koontz (who encouraged him to experiment with larger formats) in 1956, and took a larger studio in the Montparnasse neighborhood of Paris in 1961.

Christie’s Paris’ specialist Clara Rivollet highlights the very complex composition:

“There’s actually a structure of very deep, black brushstrokes an then you can see around a kind of dilute-ink-wash-like oil around it and then on top of it he adds a whole network of intricate lines.

“You have very controlled sinuous lines that remind us of Chinese calligraphy. But also this very kind of loose movement in white paint is very inspired by Jackson Pollock’s painting.

“The painting could be a Western painting because it’s abstract. But actually in its essence it remains very Chinese because for Zao Wou-ki abstraction always represents a kind of inner imaginary landscape like the Chinese literati painting would do.”

“29.09.64”, at 230 x 345 cm. (90 1/2 x 135 7/8 in.), is one of the two largest that Zao painted in the 1960s.

It was purchased directly from the artist in 1969 by a French architect who built hospitals, research centers, and administrative buildings throughout France and Algeria in the years of rapid modernization following World War II.

“29.09.64” remained in the family’s collection for 48 years. The original owner’s son consigned the painting to Christie’s.

In an early 2017 exhibition, New York gallery Lévy Gorvy paired the works of Willem de Kooning and Zao Wou-ki. A little boost to the market?

 

See:

  1. An inner, imaginary landscape: Zao Wou-ki’s ‘29.09.64,” Christie’s
  2. Contemporaries: Voices from East & West / Asian 20th C. and Contemporary Art,” lot 4, Christie’s HK, 27 May 2017;
  3. Zao Wou-ki’s 29.09.64 Sets Record in Hong Kong with $19.7m Sale,” Marion Maneker, Art Market Monitor, 29 May 2017.

 

 

#art #artmarket #zaowouki #arthistory #contemporaryart #postwarart #paris #france #newyork #abstraction #abstractexpressionism #jacksonpollock #literatipainting #songdynasty #oiloncanvas #inkonpaper #calligraphy #hongkong #beijing #berlin #vienna #milan #dubai #algeria #africa #realestatedevelopment #architecture #design #luxury #christie’s #LévyGorvy