Art Industry News is a daily summary of the most momentous developments in the art world and the art market. You need to know that this Thursday, December 23rd.
Insights into the freakonomics of the art industry – Freakonomics Author Stephen Dubner has published a three-part podcast Deep-Dive into the “hidden side of the art market”. After getting out on the other side, he compares the strange and opaque machinations of the industry to the diamond trade. “Diamonds are in abundance, they are not that rare,” he explained. “This is another case where the supply of dealers is deliberately restricted and intense and emotional marketing creates a demand that drives the price far above what a normal person would think of this piece of rock that is not very beautiful.” The final verdict is that the art market winners, unsurprisingly, are mega-galleries, best-selling artists, and a handful of museums. The losers? Those who take low paying jobs while trying to climb the corporate ladder. (The art newspaper)
How do we calculate the prices for young artists? – Regarding the nonsensical art market, Scott Reyburn asks: hHave price and value separated completely? For young artists, the answer can be yes. “Right now, it’s almost impossible for many young artists to objectify pricing, apart from emphasizing demand for new names,” said Jean Minguet, head of art econometrics at Artprice. (TAN)
Curators are among the most trustworthy professionals – Say what you want about museum scandals, they seem to have done little to dampen public confidence in artists. The latest edition of the Ipsos MORI Veracity Index, the UK’s longest-running professional trust survey, found museum curators to be the fifth most trusted, after nurses, librarians, doctors and teachers. Who are curators? more familiar as? The surprisingly long list includes judges, engineers, scientists, and professors. (Hyperallergic)
Was this Ethiopian icon made by an Italian? – A French art historian has the theory that Ethiopia’s oldest religious icon, believed to have been made in Byzantium in the mid-14th century, was actually made by an Italian artist in the 14th century. In his new book, Jacques Mercier argues that the triptych, Image of our Lord Jesus Christ, has similarities with the art of the Italian city of Siena from earlier times, but also appeals to Ethiopian tastes, suggesting that it was painted by a Sienese goldsmith in Ethiopia. The theory would make the object one of the earliest direct artistic connections between Europe and sub-Saharan Africa after Roman times. (TAN)
MOVERS & SHAKERS
Community director leaves in record time – Kelly Taxter left her post as director of the Parrish Art Museum in the Hamptons in less than a year. One reason was not given publicly; The community council president, Mary E. Frank, said ARTnews it is “the right thing at this point in time”. Taxter, who previously worked as a curator at the Jewish Museum, took up the position in March 2021. (ARTnews)
Norwegian artist opens gallery – One of Norway’s richest artists, Kjell Erik Killi Olsen, has opened a state-of-the-art art center in his conservative hometown of Trondheim near the Arctic Circle. The opening exhibition at Kjøpmannsgata Ung Kunst (KUK) was curated by Elmgreen & Dragset with curator Rhea Dahl. The gallery, which provides artists with an exhibition fee and production costs, takes a 40 percent commission from sales to support its operations. (TAN)
Possible Caravaggio receives protected status – A small painting withdrawn from auction in Spain in April has been protected as an object of cultural interest while experts are considering whether it is an original Caravaggio worth up to 50 million euros (56.6 million US Dollars). Spain’s Ministry of Culture had previously banned exports; its status has now been upgraded by the city of Madrid. (Guardian)
Felix publishes list of exhibitors – While some European trade fairs are postponing dates for the beginning of 2022, Felix is pushing ahead in Los Angeles. The fair has announced its 60 gallery lineup, including more than 20 newbies, from Broadway (New York), Misako and Rosen (Tokyo) and One Trick Pony (Los Angeles) to The Ranch (Montauk). The event will take place February 17-20 at the Hollywood Roosevelt Hotel. (Press release)
TO BECOME THE ART
Drake pays tribute to Virgil Abloh with a tattoo – Toronto-based studio Ganga Tattoo has revealed that it inked the rapper with a tribute to the late creative genius Virgil Abloh, who died last month after a quiet battle with cancer. The image is based on a photo of Abloh throwing a kite down the Louis Vuitton catwalk in 2018. Drake was one of many celebrities and thinkers who mourned Abloh’s loss and wrote in a tribute on his Instagram: “My plan is to touch the sky 1,000”. more times for you. “(complex)
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