Category Archives: Asia

What would you do with $250 million?

Card PlayersAccording to ArtWorld Salon contributor Alexandra Peers, in an article for Vanity Fair online, the Royal Family of Qatar has celebrated a decade of high profile Art buying by spending that amount on the last of Cezanne’s Card Players.  (The painting was purchased from the estate of the late Greek shipping magnate George Embiricos.)  That is quite a number, and a new record for the highest price paid for a single work of Art.  You could pay for the entire budget of the Museum Of Modern Art in New York for almost two years with that sum.

And what else?  I started to wonder.  Here is my quick list.  In January 2012, US$ 250 million buys:-

1 Cezanne
10 decent sized mansions in the Hamptons
100 upper-middle class family homes in Beijing
1000 Ferrari 458 Italia Coupes in Rome
10,000 Ducati 1199S motorcycles in Paris
100,000 complete (3 yr) high school educations including accommodation, food and healthcare in Lhasa, Tibet
5,000,000 milking goats in Dar es Salaam, Tanzania
50,000,000 egg-laying chickens in Dhaka, Bangladesh

Interesting, no?   So let me ask you again.   What would you do with $250 million?

Enlightenment comes to Tiananmen Square?

NMCThe Art Newspaper leads this week with a thought provoking and fact-filled article on a huge co-operative Arts project between the German and Chinese governments to bring major works from German museums to the newly re-opened National Museum of China on Tiananmen Square.   The theme of the exhibition is the European Enlightenment, and the story is by our own András Szántó.

A glimpse of the exhibition:-

Over dinner on a bitterly cold January night in Beijing, I asked Cordula Bischoff, the Dresden-based curator of “The Art of the Enlightenment”, which object in the exhibition best represents its message. Without hesitating, she pointed to a silhouette print in the advance catalogue. The work, attributed to Johann Heinrich Lips, depicts Voltaire, the French philosopher, holding a lantern that shines a light outward beyond the picture frame. “He is carrying the light and leading the visitor out of the exhibition,” she said. “It tells everything.” Bischoff’s counterpart, Chen Yu, a curator at the National Museum, nodded in agreement. “This picture is a metaphor of the Enlightenment,” he said. “The European Enlightenment is still influencing people everywhere in the world. Chinese people are still enjoying its fruits.”

And a comment by a local resident:-

This is an era of tremendous change. It is time to pause and reflect. Are we a leader economically? Spiritually? It’s part of the opening up after 30 years. What have we lost and what have we gained?

As Andras points out, Confucius was an inspiration to many of the leading lights of the European Enlightenment and so it seems the cycle of inspiration returns.   One wonders, though, what the results will be as China is really only taking its first hesitant steps forward culturally, even as it charges forward economically.

You can read the full article here.

Meanwhile, in South Korea

dsc04620While North Korean art is making a bid for attention in Vienna, in South Korea, where I just spent a week at the UNESCO World Conference on Arts Education, the art world is showing remarkable vigor. This peninsular country of 60 million, one-fifth the size of France, is the real miracle of Asia. It suffers from few of the chronic structural weaknesses of Japan, or the social and environmental ills of China or India, or the artificiality and overreach of newly rich Gulf nations. It’s the Switzerland of the East. And art is a key part of the equation.

There is no shortage of science-fiction-like mega-projects here, including the Global City of Saemangeum, to be built on the world’s largest reclaimed land mass behind a 33 km sea dyke, the world’s longest, which was just completed after 19 years of effort. But this is no Dubai. I asked a government official in the ancient city of Jeonju, which hosted my group in a bid to become a UNESCO Creative City, what’s the goal for South Korea in the years ahead. He said, “to get to between 5th and 10th in GDP in the world.” He didn’t mean per capita.

Underlying South Korea’s epic success, of course, is the most comprehensive public education effort in its hemisphere, and possibly the world. South Koreans are simply obsessed with learning, and the results are plain to see. Korea’s literate, world-wise population is, among other positive traits, deeply interested in the arts. This is probably the only place in the world where Bach can be heard in the bathrooms at a highway rest stop.

Here’s the most impressive thing about South Korea: It seems to have found a balance between warp-speed development and respect for local identity. As part of this balancing act, the state is extremely generous to local art. Seoul alone installs more than one thousand public art works a year. Historic sites are preserved and documented meticulously. Local governments are building creative complexes for artists where they can live, create, and interact for six months at a time. Arts patronage is considered obligatory for big firms and wealthy business clans, for reasons of both national pride and marketing. There is no interest in the wholesale franchising of Euro-American culture here. The country is open to foreign influences—Seoul’s top Zagat restaurant is Italian, the pastries of choice are French, Starbucks is ubiquitous, and women are as label conscious as anywhere—but the country has avoided drowning in globalization. Continue reading

Blumen for Peter Noever

Flowers

As South Korea and the world tries to sort the best response to the latest provocations from North Korea, an exhibition of contemporary ‘official’ art of the DPRK (Democratic People’s Republic of North Korea) opened at the MAK (the Museum of Applied Arts) in Vienna, with a rather dodgy title. “Flowers for Kim Il Sung” was launched despite opposition and questions about the nature of the museum’s collaboration with the Pyongyang regime.

By admission of MAK director Peter Noever in a number of interviews, the work is presented without any critical context.

Perhaps there is no other art in North Korea, as it seems the MAK believes. While that may be true, it is hard to imagine that much first hand research went into that position being taken. Perhaps the director’s trip to the DPRK was not so unlike this one taken by Vice correspondents:

http://www.vbs.tv/watch/the-vice-guide-to-travel/vice-guide-to-north-korea-1-of-3

Watch all three episodes. But perhaps it is another experience for a European museum director.

Surely there is a difference between exhibiting a display of historical propaganda versus a contemporary, active one constructed through forced labor and dictated entirely by one family’s aesthetic viewpoint, if you can even call it that.

The MAK makes a case that this show fits in a tradition of previous exhibitions centering about specific political systems, and yet the defense of this show is that it is about aesthetics, not politics, and about seeing the visual production of an ‘other.’ It is hard to imagine that this will open doors for us to see anything except what the current regime wants us to see. Continue reading

Developing sino-criticism

9780713992540hWhile taking a brief vacation from the cold this past week (in Panama of all places; as an aside, the rapid and apparently unconstrained development of Panama City since 2003 is a phenomenon worth looking at) I finally had the opportunity to plow through Martin Jacques’s When China Rules The World (Penguin 2009), which I found to be an excellent counter-consensus account of how China’s rise will be anything but a process of ‘westernization’.

Not that I have done all that much reading on the topic, but it seems to me that Jacques offers a thoroughgoing introduction to the many promises and problems (for the globe, not just the West) of China’s rise.  But more than this, the importance of Jacques book, for me at least, was to have disabused me of my habit of utter skepticism with which I met nearly all (positive) accounts of anything having to do with ‘Chinese Contemporary Art’.  The ‘emerging market’ chorus and so many artists’ tendency towards the worst ethno-kitsch, combined with the extensive accounts of ‘pay-to-play’ networks of curators, critics, galleries and museums, simply put me off.  My major criticism being that it seemed impossible for anyone ‘in the West’ to get a clear or honest assessment of Chinese art from Chinese critics and curators.  Yes, books by English-language critics (Richard Vine’s fine recent survey among them) have been appearing.  But without access to the thinking that was going on within the networks of Chinese art (and networks purged of monetary grease), I simply felt that its landscape would necessarily remain obscure. My reaction, unenviable and small-minded, was to put my head in the sand and simply hope that this too would pass, chalked up as a mere symptom of globalization.  As I said, small-minded.

The rise of Chinese contemporary art is surely a function, not a symptom, of globalization; and it’s here to stay.  Jacques’s book attuned me to this (and it has perhaps only twenty words on art, contemporary or otherwise).  All of which is to say that, post-Jacques’s book, I was able to read with some optimism this report on the announcement of Wang Chunchen of the Museum of the Central Academy of Fine Arts as the most recent (and only second) winner of the Chinese Contemporary Art Award prize in criticism–and this for a work entitled ‘Art Intervenes in Society – A New Artistic Relationship’.  I have not read Wang’s piece, and would be interested to hear from anyone who has; but it seems to me more generally that this prize in criticism is exactly the kind of thing we need.  The discourse of Chinese contemporary art needs to be shaped from a perspective internal to its own culture.  The CCAA prize promises to do just that.  And now that I’ve got my head out of my as…I mean, out of the sand, I’ll be looking for more such platforms (and their beneficiaries).

Temperature check in Beijing

Green ShootSo how does it feel where you are? Arriving back in Beijing after 3 months traveling I passed through the requisite temperature checks at the airport (swine flu mania abounds); and so I thought I would do the same for Art markets around the world. I touched base with gallerists, collectors and intermediaries in the US, UK, France and Switzerland. Without wishing to over generalise: the Americans were still mostly doom and gloom; while the response from Europeans was more varied, with some friends reporting good works finding new homes. This is rather at odds with the general Economic environment. I heard more about “green shoots” while traveling in the US than in Europe. But maybe the American collectors had had more money in the game to lose?

So it has been interesting to arrive back in China and talk with friends in Beijing and Shanghai. Unsurprisingly, things are at least a little more positive here. Whilst there has been a general pull back from foreign buyers, young wealthy mainland Chinese buyers seem to be taking up some of the slack. The locals might prefer “decorative” to “difficult” and positive themes rather than negative or political, but they are starting to buy some of the same “big brand” names that the foreigners have made so popular over the last 8 years. And brand names have always been important in China, for all products.

But the foreign buyers haven’t disappeared completely; they are just taking a little more time and doing a little more due diligence. Continue reading

The rat, the rabbit and Yves St Laurent

ysl-bronzesThis just in from Art Newspaper Editor, Georgina Adam.

The saga of the Chinese bronzes hammered down at auction during the Yves St Laurent sale and then not paid for, as a political gesture, raises many thorny questions.

Briefly, (and for those of you who were on Mars this week), the two Qianlong bronze heads, of a rat and a rabbit, were looted from the Yuanming Yuan Summer Palace in Beijing by Franco-British forces in 1860 during the Opium Wars. They were two of 12 heads which adorned a Zodiac fountain, five of which have never resurfaced.

The heads were offered for sale by Pierre Bergé, the late Yves St Laurent’s former lover and business partner, in Christie’s block-busting sale of their collection last week in Paris. The Chinese have been calling for the return of the heads, and a French association (AFACT) with links to China attempted to block the sale by bringing an emergency injunction in a French court shortly before the sale started. The demand was thrown out in no uncertain terms by the French “procureur” (prosecutor) for a number of reasons, some technical and others more fundamental. I was in court and subsequently at the sale when the bronzes were sold.

China was not able, legally, to claim the bronzes under international law, and does not want simply to buy them back – its position being that they were looted and should be returned. At no point did AFACT claim that Bergé was not the legal owner of the heads, and prior to the sale Bergé stated that he would be prepared to return the heads “when China respects human rights and frees Tibet”. This did nothing to improve Sino-French relations, which hit a new low after French President Nicolas Sarkozy met with the Dalai Lama last December in Poland.

At the sale, the two heads were “sold” to a bidder on the telephone, underbid by two other telephones for the first, and one for the second. The price was  £20.4m each, including premium, and contrary to usual practice no paddle number was announced – “the buyer wanted absolute discretion,” auctioneer François de Ricqlès said afterwards.

On Monday this week a Chinese collector and auction house general manager, Cai Mingchao, announced that he was the buyer and that he was refusing to pay, as a patriotic gesture.

So here are some of the questions this saga raises. Continue reading

New, newest, now, next

It’s the dawn of a new age. No, not another,tate-triennial-01 deeper stratum to the credit crunch, but a new era of art is upon us and it’s called the ‘Altermodern’. So says French curator Nicolas Bourriaud, who was also responsible for that other recent frisson of novel art-speak, Relational Aesthetics, which – for better or worse – is now firmly established in our repertoire of recognized terminology.

The ‘Altermodern’ is more contentious, not only for being launched by a showy exhibition at the Tate, but also for being far more numinous and complex. Put simply it posits a post-postmodern situation in which modernism is fractured further and has no central geographical focus. These ‘other’ modernities take place simultaneously through an international network of production, with a constellation of ideas pulsing through various media and means of communication. Altermodern artists are nomadic flañeurs and the work is characterised by translation and heterogeneity.

Is any of this terribly new, however? The post-colonial diaspora of artists and the ‘glocal’ proliferation of biennials has long been a point of discussion, Jonathan Neil recently cited Noel Carroll’s definition of the ‘transnational’ and notions of the ‘other’ have been around for decades in Derrida, Kristeva, Said and others.

Even though you can’t all see the Altermodern show (which I liked despite its flaws), you can watch the video, read the manifesto and join the debate, in which most newspaper critics have waded in with a mixture of incomprehension and vitriol. Personally, while another impenetrable ‘ism’ is not necessarily the solution to tidying up the art history books of the 21st century, I appreciate that it does at least take some courage to usher in any kind of movement that doesn’t have an easily marketable model like the YBAs or the Chindian set.

The Singapore experiment

kinesisk-tempel-singaporeWhat kind of an art world do you get without critics? To some, the question may sound hypothetical. But as I learned in Singapore last week, such scenarios exist, and may become more common.

In every tangible respect, the visual arts in Singapore are in an enviable situation. The small island nation sees cultural investments as a step toward a high-tech, educated, information society. The major arts facilities are glittering after ambitious additions and facelifts. The display technology in the top museums is world class. There are for-profit and non-profit art galleries. More and more institutions are being built. Artists can learn in prestigious training programs, some managed in partnership with reputable foreign institutions. Grants for travel and production are widely available.

The missing element is criticism. There is none. Newspapers offer reportage, but no reviews. There are no local criticism journals or websites, no training in criticism at universities. In talking with students and artists from around Asia, it quickly becomes clear that while western-style art cultures and art markets are proliferating, criticism is not necessarily being added into the mix. There is one silver lining: More direct contacts between artists (in person or online) not only to chit-chat, but to seriously debate the merits of each other’s work — the kind of intense, one-on-one dialogue and discourse we only read about in the history books.

With Asia exerting a more powerful influence, and with the Western arts press in decline, could the absence of criticism become the norm, not the exception?

“Artoon” – The book!


self-help-helguera

With one new year behind us, another one looms in a fortnight.  The Chinese Year of the Ox is supposed to be a year of hard work for limited return. Maybe if Lehman’s analysts had been looking at their Chinese horoscopes they might have seen some problems coming.

For those of you with time on your hands and no books left from your holiday reading list, we recommend a compilation of “Helguera’s Artoons: Cartoons about the Art World,” recently published by Jorge Pinto Books, with a forward by our own Andras Szanto.

With far too many pundits making comparisons to the Great Depression, perhaps a little light relief is what we need these days. Though interestingly, the effects of the doom and gloom vary widely around the globe–at least based on the holiday conversations I have had.  What is it like where you are?

And so it starts…

christies-unsold-bacon-portrait-of-henrietta-moraes-1969Bloomberg today reported the dramatic drop in prices achieved at all the major auction houses this weekend.

Sales by Sotheby’s, Christie’s International and Phillips de Pury & Co made a combined 59 million pounds ($102 million), against minimum estimates of 106.2 million pounds, according to Bloomberg calculations. They follow a five-day auction by Sotheby’s in Hong Kong this month that raised HK$1.1 billion ($141.7 million), also about half the presale estimate, as buyers shunned some top lots for being too expensive.

This is of course to be expected as much of the collector market focuses on wealth preservation rather than spending. And galleries in New York have noticed a softening for some time.  Interestingly, though, one normally expects an art market correction 6 to 9 months after stock market crashes.  The question now is whether this is the start of a rout in the contemporary art market or merely a short term, financial market correlated, “correction.”

It also, by the way, raises a question about the other major art story of last week about recent moves by two former senior US museum directors to the private sector. Robert Fitzpatrick moved from the Museum of Contemporary Art Chicago to Christie’s Haunch of Venison, and David Ross moved on from his days at the Whitney and the Museum of Modern Art in San Francisco to be a partner at Albion.  Whilst I fully understand the attractions of better salaries and less stifling boards, I wonder if their timing was all it could be?

Not everyone is worried though.  I have spoken to two collectors this weekend who said, in effect, “finally a correction: maybe prices will come down to a more reasonable level and we can start buying again.”

So what do you think: Short term correction or start of a rout? A good thing or a bad thing?

Any old collector will do

FreudNude.jpgNow that we know who has been paying top dollar at the auctions (Russian oligarch Roman Abramovich, the owner of Chelsea Football Club as well as a whole lotta gas and oil) this more or less proves that we are relying on the super-rich to hold the buoyant market aloft. There has been a lot of talk about how the art world is staving off signs of a recession thanks to these new ‘emerging market’ buyers, but might this trend have further ramifications for the business?

For example, will the dealers cease to hold back their best work for the supposed ‘best’ collectors and museums, preferring instead to keep cashflow high by offloading to those simply holding the biggest, loosest purses? Maybe galleries have been disingenuous all along, merely paying lip service to the sacred idea of artist representation and not really carefully vetting what sells to whom at all. While you can’t stop anyone from buying at auction (indeed, Abramovich might start to be taken seriously as a collector after his recent purchases), will money run roughshod over the hearts and minds of those in the primary market in the same way? Or should I just take my rose-tinted blinkers off?

Cause for optimism?

Tobias_Meyer__Sothebys.jpgSothebys latest Market Review, issued last night, strikes a slightly defensive but none-the-less optimistic tone, using two key arguments to support their optimism.

The first is their contention that the market of today is unlikely to suffer a crash and sustained down period similar to that of the 1990s. They base this view on the not unreasonable statement that there are more sources of buyers than was the case when Japan was the source of new money bidding up markets in the 1980s. At that time, the argument goes, there was no-one to take their place when the Japanese retreated from the market in the 90s; things are different now. Well, certainly this time we have seen new buyers from Eastern Europe, Russia, China and India entering the fray, in addition to all the new money in the US and the UK. But, as we have seen with the recent US sub-prime driven hiccup, all markets can catch a cold at the same time in today’s globally interlinked financial markets. In addition, that greater diversity of buyers is buying a greater diversity of Art, including contemporary and traditional works from their own regions (China and India being prime examples). They are not just focussed on traditional Western Art markets. So I am not sure there is the greater depth of buyer support for the traditional European and US modern and contemporary markets that Sothebys believes is there.

Their second argument for optimism is that there is a rise in the average price of lots sold over recent months.

From those price increases, however, we can infer a larger market of potential buyers.

Well, from their own figures we can see that over the same period: total sale value has actually fallen steadily since May 2007, and number of lots per sale have also fallen steadily from November 2006. With number of lots sold falling, average price per lot rising, but overall sales value falling, that actualy tells us that a few buyers are paying more money for (presumably) top works, but that fewer people overall are buying, less money overall is being spent and fewer works are being sold. Perhaps there is a larger market of potential buyers. But at the moment it looks like, aside from those at the top end of the market who are generally immune to financial market troubles, there are fewer buyers actually buying, not more.

Still, if it means a return to auctions being about quality of works, rather than quantity, it might make them interesting to attend again…

Of stocks & markets

Sothebys_vs_NYSE_1yr.gifThere is, again, a fair amount of buzz about the health of the Art market these days. Robert Frank at the Wall Street Journal recently raised the spectre of a decline, based on the 50% fall in Sotheby’s share price over the last 6 months. He points a finger at the rise in guarantees offered by Sothebys to sellers over the last year, something we talked about last August, and the potential for buyers to default on agreed purchases. Then Marion Maneker at Slate issued a well argued riposte, pointing out that the rise in debtors on Sothebys balance sheet is consistent with a rise in the value of sales over the same period; i.e. the higher the level of sales, the higher the level of money owed by buyers to Sothebys until the day they actually pay. She also makes the argument that the guarantees are not as big a worry as they might be because “most of the guaranteed paintings do get sold—and quickly” [after the auction].

I have concerns about both articles. Firstly I am not sure Frank is right in using Sothebys as a proxy for the Art market as a whole. The stock market clearly doesn’t like something about the numbers at Sothebys, perhaps because of perceived greater risk taking by the auction firm (no doubt related to the larger guarantees and larger accounts receivable), but that doesn’t mean the Art market as a whole is suffering; yet. But Maneker is also a touch too sanguine about those same guarantees because I doubt the unsold works will sell quite so quickly, nor at such “reasonable” prices, if the market was in free fall.

To me the key question that will determine whether the Art market suffers a major correction, as in 1990, or a gentle slowing of the current manic rise is the degree to which there is speculation amongst the current buying community. If the prices being paid for contemporary works in New York, HongKong, London and elsewhere reflect genuine collector passion for the works, then that passion is unlikely to fade just because prices for new works fall. On the other hand, if a significant portion of the current buyers are people buying just because it is ‘cool’ to do be seen to do so, and in addition they think they can sell their new prizes in a year or two for a 50% gain, then many of those same buyers will dump stock into the auction rooms as soon as they get nervous about the direction of prices.

So which do you think it is?

Speaking of fairs…

Forged_by_Qin_Chong.jpgWent along to the opening of the 5th China International Gallery Exposition (CIGE) here in Beijing on Thursday. Held at the snazzy central China World Trade Centre it gets cleaner and better organised each year. Sadly the Chinese works on display were mostly overpriced and familiar. Even when the artist and work were new. There are exceptions, of course. Urs at Urs Meile and Fabien at F2 are among those trying to build long term relationships with, and long term reputations for, the artists they represent; encouraging development of oeuvre and restraint in pricing. But this is gold rush time for China Contemporary. This sculpture (“Forged by Qin Chong”) probably best illustrates the focus of most Chinese contemporary artists these days.

I did enjoy seeing the work from other galleries around Asia. Attracted by the new deep pockets of the Northern Chinese, galleries from Tokyo, Seoul, Taipei, Kuala Lumpur, Jakarta, Manila, Singapore and Mumbai were all in evidence. Many with their artists in tow. It made for a fun cultural mix in an otherwise fairly quiet VIP evening. They also provided refreshing views, textures and subjects in a room full of yet more pink, bloated cartoonesque Chinese works.

It will be interesting to see how this Fair evolves. There are fewer exhibitors this year (81 vs 118 last year) and there has been a large churn. For example not one of the 5 French galleries that came last year returned. And the number of mainland Chinese galleries who bothered to exhibit is down sharply; 16 this year, down from 39 last year. On the other hand there was a new area upstairs for solo shows of young artists from around Asia (not just China) and a surprising number of dedicated contemporary video art rooms.

Buyers seemed in short supply, however. At least the media present knew who they were after as they hounded the minor TV celebrities that wandered, slightly bewildered, through the exhibits. One interesting thing was the presence of Phillips dePury as one of the sponsors. Not there to launch a new office in Beijing, but to promote their ConArt sale in New York at the end of May. A long way to come for customers.

Interesting times.

Welcome to the art factory

OPS_sample.jpgIs the age of mass produced art finally dawning? Artworldsalon received the following solicitation from China:

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Fashion victims enter the temple

Murakami_LV_MOCA.jpgOn a recent visit to Los Angeles, I made a pilgrimage to Takashi Murakami’s mid-career spectacular at MOCA. You know, the one with the handbag shop in the museum (and a copyright sign in the show’s title). I wanted to taste that smiley-face Murakami vibe. And having heard all the hullabaloo about the handbags—offered for sale by the good people at Louis Vuitton not in the gift shop, but inside the actual gallery space—I wanted to contemplate the crossing of cultural thresholds never before so brazenly tested. So, on a surreally warm, sunny Christmas Eve, I pointed the car’s navigation system to the Geffen Contemporary.

I came to the museum with an open mind. Messing around with boundaries is a legitimate pursuit, after all—I’m all for it. We Artworldsalon types get easily excited when it comes to novel genetic mutations and cross-pollinations between art and commerce. But I came away with mixed feelings; feelings that probably make me sound like a woolly old mammoth.

About the most generous way to see the Louis Vuitton boutique implant is as a canny and effective performance piece. It takes the art of audience participation to a new level. People are invited to walk into a symbolically charged space and offer up a kind of sacrifice, i.e. money, in return for objects of demonstrable (because someone is paying) cultural or emotional value. There is a theatrical, performative, staged quality to the experience. Kind of like church.

I watched as a young Asian fellow with two attractive female companions whipped out his credit card and charged $3,000 for three handbags. They looked like dancers in a trance, speaking barely a word. The girls at the counter played along with feline elegance in the finely choreographed ritual exchange, in which everyone seemed to know their part. And I thought to myself, “He may as well have cut a vein and drawn a pint of blood.” Eliciting that profound response, that level of commitment, says something powerful about these objects. Don’t we all want people to respond to art in such a tangible way?

But that may be giving Murakami too much credit. Ever since the visit, I can’t shake a sense of disquiet about the store-in-the-museum concept. I have been trying to get to the bottom of it, but I couldn’t pin it down until I came across a statement by John Baldessari in a conversation (artreview.com, Jan. 5) with Artworldsalon regular Jonathan Neil. In the interview, Baldessari talked about how “art has become more entertainment,” and about the Murakami show he had this to say:

I’m on the board of trustees at MOCA – not that I go, but I do go to a few meetings – and you realise when you get in there, in the midst of it, that these museums are about ticket sales, and they have to have blockbusters. So what are we doing at MOCA? – Murakami. Man, that is going to bring them in. Now do you think if you had an Ad Reinhardt show that that would bring them in? I don’t think so. Could you see a Reinhardt on a billboard? But it’s more and more like that. And it’s perfect. Because there’s a huge Asian community: that’s going to bring them in. Murakami is like Warhol: that’s going to bring them in. And then this argument – I had to laugh – but Paul Schimmel said, “We’re going to have this Vuitton shop, and it’s going to be functional, because that’s part of his practice”, and I said, “Well wait a minute, part of your practice, alright, so you have the same show – but one of [Adolf] Wölfli, are you going to have a mental institution inside?” No, you wouldn’t have to, it is a mental institution!

So which is it? A savvy cultural investigation into the relationship of art and commerce? Or just another way to sell a handbag?

Nationalism in collecting?

As we ponder who has been buying what at Miami, this has come in from Michael Hatch in Beijing.

Mahishasura_by_Tyeb_Mehta.jpgThe markets for Western contemporary art and Western modern art are often assumed to be universally engaging across national and ethnic borders, but I’d wager the vast majority of buyers are caucasian, reflecting the dominance of Euro-American artistic traditions, and reflecting the historical dominance of Euro-American economies.

The market in Indian art, however, is said to be driven almost entirely by Indian collectors; and the main buyers for both classical and modern Chinese art are Chinese or Chinese diaspora. Though the spectacular growth in prices for contemporary Chinese works has been largely driven by Western buyers, one hypothesis is that some of the mainland Chinese currently investing large sums in real estate and stocks might soon turn their attention to chinese contemporary art and become the dominant force in this market.

I wonder, therefore, to what degree ethnicity, nationality or cultural affinity play a role in driving particular art markets? Are particular markets dependent on those who have a cultural affinity with those works? If so, are the movements of any given art market only really affected by the economic movements of the home market? If that is the case, will the predicted downturn in the Western art markets that is supposed to follow the current economic doldrums in America affect the markets in Chinese or Indian art?

Thoughts anyone?

After the fall…

Yue_MinJun___The_Massacre_at_Chios.pngAs artist Yue Minjun reaches new highs in HK (during recent sales at Sothebys that set new records in jewels, ceramics, and paintings both traditional and contemporary), Richard Polsky over at ArtNet is predicting a decline and fall for Chinese Contemporary Art. (Which makes NY real-estate and art investor Howard Farber’s disposal of most of his Contemporary Chinese collection tomorrow at Phillips look well timed.)

But Polsky goes further, stating flatly:

“There’s nothing innovative here. In fact, other than its specifically Asian content, the work is totally derivative of Western art”.

Kriston Capps over at grammar.police calls the over generalisation “baseless”, which is maybe going too far the other way, but he raises a good question at the end of his comments: what will survive the inevitable fall? His question refers specifically to the Chinese market, but I am curious about contemporary more globally.

In both Western and Asian contemporary markets pundits are predicting corrections. In the US for macro-economic reasons and excessive exuberance. In Asia because of speculative buying by new enthusiasts, and over production of works by the big names. In both cases some artists, and collectors, will suffer more than most. Any views on whom? And how much?

Down market strategies

I wonder if anyone is getting guarantees out of the auction houses these days? In a financial market turning south it is a common strategy to buy “put options” before everyone else notices; i.e. contracts to lock in now, a right to sell something in the future, to someone else at a price fixed now, when you think the market as a whole is falling. An Art market equivalent would be to agree with an auction house now to sell a collection later in the year, on condition of sale price guarantees, set now, at current pricing. Always a risk for the auction house (ask Phillips de Pury), in a real down market it can be a disaster. The smart auction houses understand this, of course. If they are nervous about market values, they stop giving guarantees. Perhaps only in some markets. Perhaps in all.

So I repeat my question: does anyone know if auction houses are still offering sales guarantees this year?