Georg Baselitz has demanded the removal of all his loaned works from German museums in protest against regulations regarding the export of artworks.
Tabish Khan wrote an insightful piece this week on how the prices of artworks are calculated. He identified two contributing factors: one, the artist’s price point at a given time, which is presumably a function of the strength of the artist’s brand; and two, the size of the artwork.
In 2014, the global art market grossed €51billion, which is a 7% increase on 2013 and the highest total ever recorded. These are the findings of Dr Clare McAndrew, who every year compiles the TEFAF Art Market report before jetting off to the one of the artworld’s most prestigious art fairs in Maastricht.
Damien Hirst sold a lot of very expensive art between 2007 and 2008. So much that he became the world’s most expensive living artist, which gave him the acumen to do whatever he liked. Next week, the seminal Pill Cabinet Lullaby, Winter is going under the hammer at Christie’s, but it has a curious history as an unfulfilled promise that had momentous effects.
A spectre is haunting the artworld. In the foyer of Christie’s New York, at over twelve feet tall and made of painted steel, Jeff Koons’ Balloon Monkey (Orange) (2006-2013) presides over daily business.
In order to combat this, contemporary art has developed jargon that purports to explain every nuance of the artworld, but it often only deepens the mystery.
James Franco is everywhere, doing everything, all the time. He is an actor, writer, musician, English Literature student, teacher, director and world war agitator. Now, like everyone else in Hollywood, he is an artist, but one who exposes the heartbreaking sycophancy and emptiness of the artworld.
As autumn descends on London, the artworld is gearing up for the great tragic-comic circus of consumption and gossip that is Frieze Art Fair.
Damien Hirst has commanded the destruction of an early Spot Painting……
The saleroom was electric. Not like it’s got a family full of eccentrics, but like important things were about to happen.
This immanent and inevitable catastrophe is a lesson in how the unchecked might of the market renders impotent the museums whose mandate is to preserve our rich cultural history.
The phenomenon of Basquiat’s prices and the more general taste for street art of which it is symptomatic is a product of the art market’s ability to disseminate otherwise obscure art and to launch it into the establishment.
On the evening of 15th September 2008 three completely unrelated events occurred, which determined this precise moment in time. This is the story of how art survived recession in spectacular fashion and how a philosopher, an artist and a bank unwittingly crossed paths.
The art bubble continues to inflate, enjoying an absence of natural predators and external regulation.
The recent announcement of the UK’s top ten most expensive living artists offers a sobering opportunity to think about the extent to which contemporary art has been infected by its entanglement with money.
The price of art is a much discussed and much maligned phenomenon. But whilst there may sometimes be good grounds for suspicion, a lot of what we hear about the price of art is a wilful fantasy of the media, fuelled by a perennially disingenuous market.
The newest star to twinkle in the infernal blackness that traverses the space between economics and culture is Eddie Peake.
There is a new generation of artists who are realising staggeringly high prices. This group of rising stars is an all boys club of young, middle-class men. It is a perfect demonstration of the perennial confusion between price and quality, where buyers’ voracious habits steer the consensus towards judgments of artistic worth. But the market, in its inexorable whim, is not always right.
The relationship between art and money is complex because it is necessary to the very existence of art in capitalist society, at the same time as being a threat to the integrity of art.
They are cultural farmers markets, celebrity hotspots, arenas of business, a capricious day out or a site of curious innovation.