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collections care & engineered resilience

As the markets for works of art, collections care, and engineered resilience in the built environment (private collections, museums – public and private, galleries, fairs, corporate and university collections, etc.) converge, renewable energy will be a factor.

“Underlying property increases in value by virtue of the fact that positive externalities associated with the performance of the resilience investments represents a superior outcome to the status quo – even when netted out by any costs.” (Keenan et.al.)

Companies have signed long-term contracts to purchase solar and wind energy in 28 markets.

Cost declines and efficiency improvements are making renewables cost-competitive with wholesale power prices of more traditional sources of electricity.

While larger corporations are entering into corporate power purchase agreements (PPA),

smaller companies are increasingly pooling electricity demand together to access economies of scale achieved through solar and wind projects.

This is called “aggregation.”

“Aggregation” might be a workable model for entities in the art market concerned about the long-term resilience of structures and care and value of works and collections.


See: 1) Jesse M. Keenan, Thomas Hill, Anurag Gumber, “Climate Gentrification: From Theory to Empiricism in Miami-Dade County,” IOPScience, 23 April 2018; 2) “Corporations Already Purchased Record Clean Energy Volumes in 2018, and It’s Not an Anomaly,” Bloomberg New Energy Finance, 9 August 2018

 

#art #artmarket #museum #privatemuseum #collection #contemporaryart #energy #co2 #wind #solar #renewableenergy #resilience #resilienceengineering #architecture #design #engineering #NewYork #Miami #LosAngeles #London #Paris #Amsterdam #Stockholm #Oslo #Berlin #Vienna #Dubai #HongKong #Shanghai #Beijing #Tokyo #Delhi #realestate

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Liu Wei (劉韡): “Sandwiches No. 13” (oil on canvas, 2015)

Born in Beijing in 1972, Liu Wei (劉韡) graduated from the National Academy of Fine Arts, Hangzhou in 1996.

Lehmann Maupin describes 劉韡‘s work:

Liu Wei “explores 21st century socio-political concepts such as the contradictions of contemporary society and the transformation of developing cities and the urban landscape.

“In many of his sculptural and installation works, he uses found materials that are re-contextualized to draw new meanings out of the materials from which they are made.”

Liu Wei’s works are exhibited and collected globally. Institutional and private collectors include Seoul’s Leeum, Samsung Museum of Art (리움 삼성미술관); the M+ Museum for Visual Culture in Hong Kong; and the Rubell Family Collection in Miami.

As you research Mr. Liu’s work, examine his entire œuvre. This work documents an eye and sense for the universal appeal of line, color, and composition.

Lehmann Maupin will highlight Liu Wei and his work during next week’s Art Basel in Basel 2018.

Look for the extraordinary “Library V-II” (books, wood, and iron) of 2015-2018.

Lehmann Maupin, by the way, with a gallery in both Manhattan and Hong Kong and a space in Seoul that is open by appointment, is doing superb work.

See: Liu Wei, Lehmann Maupin

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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

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Henri Matisse: “Flowers and Ceramic Plate” (oil on canvas, 1913)

Dear to the heart and collection of Frankfurt, Germany’s Städel Museum, Henri Matisse painted “Flowers and Ceramic Plate” (“Blumen und Keramik”) using oil on canvas in 1913.

While lovely to our eyes now, Matisse was then not only enjoying color but also experimenting with radically new, in the European aesthetic, perspectives, some well-practiced and well-received in other parts of the world, such as Africa and Japan, and making their way into Europe via trade.

Like Picasso and Braque and their contemporaneous alignment of reduced objects into a shallow space using multiple vantage points (“cubism”), Matisse renders objects placed in close proximity to each other from different vantage points and perspectives.

The flowers are painted as viewed from a side perspective. The ceramic plate is painted as viewed from above.

As the Städel Museum points out:

“This new form of beauty gives preference to the surface over spatial depth and was highly controversial at the time.

“That means the end of the spatial illusionism European painters had worked so hard to perfect over many centuries.”

 

See: “Henri Matisse: Flowers and Ceramic Plate,” 1913 (oil on canvas), Städel Museum

 

 

#matisse #henrimatisse #picasso #braque #cubism #städelmuseum #städel #collection #portfolio #perspective #art #artmarket #modernart #arthistory #ceramics #design #architecture #frankfurt #germany #paris #france #africa #japan #newyork #oslo #dubai #hongkong #shanghai #seoul #tokyo #tech #entrepreneur #energy #co2 #realestatedevelopment #urban #luxury #urbanluxury

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The Chrysler Museum of Art … and one that got away

The Chrysler Museum of Art alongside The Hague in Norfolk, Virginia … and one that got away.

“The history of the Chrysler Museum includes stories of 19th century feminist visionaries & a mid-20th century penny drive by schoolchildren to buy a single Renoir that was about the size of a paperback book.

“Clearly, everything moved to a new level when Walter Chrysler, Jr. came to town.”

Walter P. Chrysler, Jr., born in 1909 and the son of the founder of the Chrysler Corporation, met, as a young man, leading avant-garde artists in Paris. Retiring from active business in 1956 (he served as President of New York’s Chrysler Building from 1935 to 1953), he devoted himself to the arts.

Mr. Chrysler’s wife, Jean Outland Chrysler, was born and raised in Norfolk. In part influenced by her, Walter Chrysler agreed in 1971 with the City of Norfolk to gift thousands of his works of art to the Norfolk Museum of Arts and Sciences, to be re-named the Chrysler Museum of Art.

Before he relocated his collection, however, Mr. Chrysler, “who once owned a couple hundred Picassos,” traded works – some good trades, some not so good.

He also was generous with institutions such as the Museum of Modern Art in New York and Chicago’s Art Institute of Chicago.

Gustave Caillebotte’s “Paris Street; Rainy Day” of 1877 was for years owned by the descendants of Caillebotte.

The painting was acquired by Walter P. Chrysler, Jr. in the 1950s.

It was then acquired by and entered the collection of the Art Institute of Chicago in 1964.

C’est dommage.  🙁

Wrote The New York Times art critic John Russell:

“It would be difficult to spend time in the Chrysler Museum and not come away convinced that the most underrated American art collector of the past 50 years was the late Walter P. Chrysler, Jr.”

 

See:

  1. “Chrysler Museum of Art”
  2. “Fun Facts: Paris Street; Rainy Day,” Katie Rahn, @artinstitutechi, 22 May 2015

 

#art #artmarket #museums #chryslermuseum #collection #portfolio #norfolk #virginia #gustavecaillebotte #caillebotte #picasso #artinstituteofchicago #chicago #paris #impressionism #arthistory #history #newyork #chryslerbuilding #amsterdam #thehague #berlin #hongkong #shanghai #seoul #tokyo #dubai #realestatedevelopment #luxury #architecture #design #philanthropy

 

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Liu Wei: “Purple Air D1” (oil on canvas, 2008)

Liu Wei’s “Purple Air D1” (oil on canvas, 2008).

Liu Wei regenerates various segments of Beijing’s high-rise buildings into digitalized geometric structures of bright hues of pinks, yellows, blues, and greens.

The image was rendered digitally on a computer and then painted onto a larger canvas.

While modern and “digital,” Liu Wei connects with, while seeking to re-explore, more traditional landscape painting. Note the moon and the pine tree, traditional motifs.

Liu Wei, born in Beijing in 1972, is one of China’s leading contemporary artists. He lives and works in Beijing and is represented by Lehmann Maupin.

Rather than “subversively reference politics,” he often looks for inspiration in found objects and architectural constructions, expressing his views of a changing material landscape.

Liu Wei’s work is included in numerous collections such as the Astrup Fearnley Museet, Oslo; the Leeum, Samsung Museum of Art, Seoul; M+ Sigg Collection, Hong Kong; the Rubell Family Collection, Miami; and White Rabbit Gallery, Sydney.

Lehmann Maupin

 

See: 1) Phillips “20th Century & Contemporary Art & Design Evening Sale,” Lot 36, Hong Kong, 27 May 2018 2) Lehmann Maupin

#liuwei #art #artmarket #contemporaryart #arthistory #digitalart #tech #entrepreneur #collection #portfolio #architecture #design #realestatedevelopment #luxury #urban #landscape #china #beijing #shanghai #hongkong #seoul #tokyo #newyork #losangeles #miami #london #paris #berlin #oslo #zurich #vienna #milan #dubai

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Kehinde Wiley’s “St. Andrew” (2006)

Kehinde Wiley’s “St. Andrew” (oil and enamel on canvas in an antiquated frame with gilded ornament) of 2006.

A young man in contemporary street-wear straddles the cross on which he will die. The unusual cross is associated with St. Andrew, a disciple of Christ who was executed for refusing to renounce his faith.

Kehinde Wiley poses his contemporary St. Andrew against rich brocade that comes to life as it winds over the figure.

The subject is painted in a powerful and dramatic Baroque style in strong contrast to the flat background.

Kehinde Wiley, born in Los Angeles in 1977, now lives and works in New York. He earned his BFA from the San Francisco Art Institute in 1999 and his MFA from Yale in 2001.

Represented by New York gallerist Sean Kelly, Wiley “has firmly situated himself within art history’s portrait painting tradition.

“As a contemporary descendent of a long line of portraitists, including Reynolds, Gainsborough, Titian, Ingres, among others,

“Wiley engages the signs and visual rhetoric of the heroic, majestic, and the sublime in his representation of urban, black and brown men found throughout the world.”

Kehinde Wiley’s “St. Andrew,” a museum purchase of 2014, is now in the collection of Norfolk, Virginia’s Chrysler Museum of Art.

 

#kehindewiley #art #artmarket #arthistory #contemporaryart #oldmasters #portrait #obama #losangeles #newyork #nigeria #africa #berlin #oslo #london #zurich #milan #dubai #hongkong #shanghai #seoul #tokyo #jakarta #luxury #design #architecture #realestatedevelopment #collection #portfolio #seankelly #chryslermuseum

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R8 Property’s energy positive Powerhouse Telemark

Powerhouse Telemark, an energy positive (producing more energy than it consumes) 6,500-square-meter (70,000-square-foot), 11-story office building, has been commissioned by real estate developer Emil Eriksrød for the Norwegian town of Porsgrunn.

Eriksrød has commissioned the American-Norwegian architecture and design firm Snøhetta to design the building. Powerhouse Telemark is set to be completed in February of 2019.

 “The future is all about thinking big, bold, and long term,” says Snøhetta founding partner Kjetil Trædal Thorson, “and we need someone to pave the way. With its innovative solutions and design, we believe this building will inspire commercial real estate developers worldwide to push the limits of what buildings can accomplish”.

“The world needs a lot of energy-positive buildings,” observes the developer, Emil Eriksrød, CEO of R8 Property. “I hope we will be plagiarized and copied, replicated in all seven continents.”

“This building should do wonders in lowering the bar for daring to do both spectacular and environmentally forward buildings, hopefully in a combination”.


See:

“Snøhetta Designs World’s Northernmost Energy Positive Building in Norway,” Patrick Lynch, ArchDaily, 18 January 2017

“Snøhetta designs ‘potentially world-changing office building’ for small Norwegian town,” Amy Frearson, Dezeen, 19 January 2017

 

#powerhousetelemark #emileriksrød #r8property # snøhetta #porsgrunn #norway #design #architecture #engineering #realestatedevelopment #realestate #commercialrealestate #energy #energypositive #solar #solarenergy #co2 #resilience #luxury #art #artmarket #collections #collectionsmanagement #museums #newyork #berlin #milan #beijing #shanghai #hongkong #seoul #taipei #jakarta #singapore

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Mark Bradford: “Constitution IV” (2013)

Mark Bradford’s “Constitution IV” (mixed media on canvas, 2013) sold, from the collection of Fredric Brandt, plastic surgeon to the stars, for £3,778,500 at the Phillips London Contemporary Art Evening Sale of 14 October 2015. This sale set an auction record, since exceeded, for the artist.

Mark Bradford, born in Los Angeles, California in 1961, continues to live and work in Los Angeles. He has been exclusively represented by Hauser & Wirth since 2015.

Christopher Bedford, director of the Baltimore Museum of Art, considers Mark Bradford to be “the most important living abstract painter”.

The catalogue prepared by Phillips observes that “Mark Bradford’s vast tactile works characterized by their décollaged surfaces, evoke a sense of transience and instability. In compositions such as ‘Constitution IV’ however, these ideas transcend material objects and infiltrate less physical subjects consequently, indicating the fragility of seemingly solid notions.”

The essay continues, “Using printed text through his collage and décollage technique the canvas becomes a surface offering insights into further meanings and depths … Thus, the viewer is drawn into Bradford’s works in order to try and draw meaning from the myriad of letters flickering in and out of focus.”

See:

Phillips, Contemporary Art Evening Sale, London, 14 October 2015, Lot 21

“Phillips Rebounds With $48.8M Contemporary Art Haul in London, Setting Records for Bradford and Nara,” Nate Freeman, ArtNews, 14 October 2015;

“This Painting Will Put Mark Bradford among the Most Expensive Living Artists,” Nate Freeman, Artsy, 22 February 2018

 

#art #artmarket #markbradford #contemporaryart #abstraction #collection #artcollector #hauser&wirth #baltimoremuseumofart #christopherbedford #baltimore #maryland #losangeles #california #venice #luxury #newyork #paris #berlin #london #beijing #shanghai #hongkong #seoul #tokyo #taipei #jakarta #singapore #realestate #commercialrealestate

 

 

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“Suprematist Composition” (Kazimir Malevich, 1916) to be sold in May

Loïc Gouzer, Christie’s Co-Chairman of Post-War and Contemporary Art, has announced that he will be selling the painting “Suprematist Composition” (Kazimir Malevich, oil on canvas, 1916) in May. Estimate: $70 million.

“Suprematist Composition” was last sold at Sotheby’s on 3 November 2008 by the heirs of the artist (after being in the collection of the Stedelijk Museum Amsterdam for several decades). Art dealer David Nahmad purchased the painting for US $60,002,500.

Mr. Gouzer is confident of the art historic, and current market, value of this work. “‘A work like this one should be the corner stone of every major collection or museum and if the market was indexed to the art historical importance of works, then this should be a billion $ painting (although we as specialists have to sadly take into account the laws of gravity and the estimate will be in the region of $70m).'”

Sixth sense matters. “’I relate it a lot to my spearfishing—you don’t know why, but you know that if you dive now the big fish is going to come. When you’re at the surface, you don’t see anything, but you just have this instinct that it is going to happen. In art, it is the same thing—this instinct sometimes that I know a painting is going to move.’”

Company matters too. “’If you start putting works around another work, they give each other meaning. Each of the works are in dialogue, and they help each other.'”

 

See:

“Loïc Gouzer’s $70m Malevich for May,” Marion Maneker, Art Market Monitor, 10 April 2018

“The Daredevil of the Auction World,” Rebecca Mead, The New Yorker, 4 July 2016

Sotheby’s “Impressionist & Modern Art Evening Sale,” Lot No. 6, Kazimir Malevich, “Suprematist Composition,” 3 November 2008, New York

 

#art #artmarket #kazimirmalevich #christie’s #loïcgouzer #russia #suprematism #suprematistcomposition #modernism #abstraction #geneva #switzerland #vienna #austria #brittany #france #sothebys #davidnahmad #luxury #beijing #shanghai #hongkong #taipei #seoul #jakarta #singapore