Posts Tagged ‘art collectors’

The Color of Money: Mark Rothko and selling out in the art world

Wednesday, March 31st, 2010

By Cathleen McGuigan
Newsweek Web Exclusive
March 26, 2010

When Mark Rothko committed suicide in 1970, he left behind hundreds of unsold paintings. Partly, he didn’t want to flood the market, but he also found it hard to part with them. Rothko considered his artworks to be his children, and he didn’t like to send them off to live with just anybody. So he auditioned his patrons. In the early ’60s, when Jean Kennedy Smith, a sister of President Kennedy, asked to take one or two paintings home “on approval,” he refused: “It is not a matter of my pictures fitting in with something else,” he huffed. When a woman wanted to exchange a dark canvas she’d bought—it depressed her, she said—for one with bright colors, he gave back her money. One collector who did pass muster was David Rockefeller. In 1960, he bought, for less than $10,000, White Center, a painting of shimmery white and yellow bands on a luscious pink field. It hung in his office until 2007, when he sold it at Sotheby’s for $72.8 million—still the auction record for a contemporary American painting. We can only imagine how Rothko would feel about holding the high-water mark in today’s bloated art market, but it would probably drive him right up the wall.

Read more here.

Behind the music: Pop goes the easel

Tuesday, February 16th, 2010

Ronnie-Wood-with-one-of-h-001
Ronnie Wood with one of his Orpen paintings. Photograph: Alex Sturrock

The Guardian (UK), by Helienne Lindvall
Friday, February 12, 2010

Music and the visual arts have had a loose relationship for decades. From the 60s onward, bands like the Beatles, The Who and Roxy Music all had at least one member who went to art school before embarking on a music career. Others, like Tony Bennett and Ronnie Wood, pursued careers as painters in the later part of their careers.

Still, the funding and business side of the visual arts has traditionally been dominated by trust funds, the rich and corporate City patrons. There is evidence that this is starting to change. As the music business became more lucrative, so artists such as Madonna, Sir Elton John, Jarvis Cocker, Brian Eno and his ex-band mate Bryan Ferry invest much of their accumulated wealth in both modern and classical art. Even Kylie, Robbie and the Gallagher brothers have been seen in art galleries and auction houses.

Music manager and promoter Raye Cosbert thinks that the art community can gain more than just funding from the music industry – he thinks it could use the expertise and experience gained from manoeuvring some of the most successful music careers of the last couple of decades. That’s why this week he along with artist agent Serena Morton launched new art venture Morton Metropolis.

If anyone should know how to nurture the talented, but emotionally fragile, personalities that frequently populate the art world, it’s Cosbert. He has managed Amy Winehouse since the spring of 2006, and has also worked as a promoter with acts such as Blur, Robbie Williams, Lily Allen, Massive Attack and Björk.

“Developing talent, that’s what I do,” he says. “I find it and I A&R it, which I guess could be called curation.” Cosbert thinks that although accessibility to music has changed the music business, what hasn’t changed is that talent still needs to be found and nurtured. “The middle man is still important. What Serena does is to transpose my experience into the art world.”

Morton had taken Cosbert, a personal friend, to artist Gerald Laing’s studio to see his piece Belshazzar’s Feast, based on a picture featuring Raye at a table with Amy Winehouse reaching for a bottle of champagne at the Ivor Novello awards. From then on, Cosbert’s interest in the art world grew.

The idea for the project came about after a chance encounter with another music manager – Pat Magnarella, who looks after Green Day. “Pat was the first music industry person to truly spot the market,” explains Morton. Last year, Magnarella’s management signed up UK visual artist Charming Baker – giving him some rock’n'roll-style promotion – and recruited Morton to work on a US art show for them.

“I introduced Raye to Pat,” she continues. “and seeing what Pat was doing in the US got Raye thinking along the same lines.”

“The art world is ready for some new blood,” says Morton, who joined Christie’s 20th century and contemporary British arts department in the 90s and set up one of the first pop-up shows in London’s Brick Lane in 1998. “We want to make it more fun.”

Morton Metropolis is funded by Cosbert and, he says, Morton provides “15 years of eye”. The gallery opens with an exhibition of prints by Gerald Laing, including Belshazzar’s Feast, and is aptly located on Berners Street, where the Perfoming Right Society and UK Music are also situated. The company will focus on artists in their mid-careers, aiming to spot talent that has been overlooked by the more established houses. “We want to provide a safety net for our artists,” says Cosbert.

Winehouse’s manager thinks he can take the business of art forward. One thing artist managers and concert promoters know about is risk management – they understand the intricacies of profit and loss. In the same way that a record label can use the profit from one successful artist to underpin the funding for another whose music isn’t selling well enough, so Cosbert and Morton say that if they’re able to help two artists to become the new Hockney, they can afford to support other up-and-coming artists with the profit.

“Art is long, life is short,” says Cosbert. “I was tired of going to my friends’ houses, seeing Ikea pictures on the walls. I haven’t felt this excited for a long time.”

But maybe there’s more to it than that. As the internet has made music more disposable, easily transferable and downloaded for free, the visual art world may in the future become even more alluring to people in the music business. After all, you can’t download a painting, installation or sculpture.

Dame the Dealer

Saturday, January 30th, 2010

Damon Dash<br /> Courtesy of David Shankbone” title=”DamonDash” width=”199″ height=”255″ class=”size-full wp-image-687″ /><p class=Damon Dash (photography by David Shankbone)


By Sara Costello
Published: January 29, 2010, Artinfo.com

Back in the day, it was Damon Dash helping Kanye West and Jay-Z come up in the hip-hop world. Now Dash is following in the footsteps of West and Jay by getting deeper into the art world. West, known to pal around with Japanese artist Takashi Murakami, with whom he collaborated on his video for the single “Good Morning,” also produced the video version of Vanessa Beecroft’s performance VB64.

Meanwhile, Jay-Z has continued in recent years to steadily build his own private collection, which includes work by Damien Hirst and Richard Price.

Dash took over the DD172 building in Tribeca to open Dash Gallery (bless Dame’s hip-hop heart for very likely not knowing who the late Dash Snow is, heading off at the pass any confusion right away), which houses a photo studio, rehearsal space, and art gallery. The Feb. 19 opening will feature works by artist Isaac Fortoul, Bobby Castaneda, Heather Gargon, Hector Ruiz, and Jeremy Wagner.

A Snap Shot of Public Participation in Visual Arts

Sunday, December 20th, 2009

On Thursday, December 10, 2009, The National Endowment for the Arts released the 2008 Survey of Public Participation in the Arts, which is a periodic survey that tracks adults’ reported levels of arts engagement. On December 10, 2009, the Arts Endowment hosted a three-hour roundtable discussion about the the 2008 Survey of Public Participation in the Arts. Representatives of national arts service organizations, state and regional arts organizations and NEA’s discipline directors joined Arts Endowment Senior Deputy Chairman Joan Shigekawa in this discussion of the Survey. You can view and listen to the discussion here.

The survey’s

“core questions” ask large, nationally representative samples of the U.S. adult population about its attendance at seven types of performing arts event: jazz; classical music; opera; musicals; non-musical plays; ballet; dance “other” than ballet; and Latin, Spanish, or salsa music, a new category in 2008. American are also asked about their reading of literature and their visits to art museums or galleries, art and craft fairs, outdoor performing festivals, and parks and historic sites. Additional questions seek to know whether adults create or perform art of their own, whether they take arts classes or lessons, and whether they do a wide range of other leisure activities not necessarily involving the arts.”

Owning Art

Below are some interesting highlights of the survey results regarding owning any original pieces of art, such as paintings, drawings, sculpture, prints, or lithographs (Pg. 49 of the report).

-In 2008, 20 percent of adults (46 million Americans) reported owning original art.

-Of the 20 percent of adults who said that they owned original art in 2008, about one-third had purchased or otherwise acquired original art during the past 12 months.

-About one-third of respondents in households with income of $75,000 or more per year owned original art (10 percent had purchased art in the past 12 months).

-Owning original art is also highly correlated with years of formal education.

-People ages 45 to 64 are more likely to own original art than people of other age groups.

-People ages 25 to 34 were among the most likely to report purchasing art in the past year, but among all age groups, they formed the second-lowest percentage of owners of original art.

Art Museums and Galleries

The report also provided some interesting stats on adult attendance to art museums and galleries, especially in demographics.

-In 2008, 51 million people visited an art museum or gallery at least once.

-About 55 percent of people who went to art museums or art galleries in 2008 were women.

-Approximately 54 precent of 2008 art museum-going adults had a college or graduate degree. Adults with a high school education or less represented 18 percent of art museum visitors.

-About 26 percent of non-Hispanic whites, 15 percent of Hispanics, 12 percent of African Americans, and 23 percent of adults in other racial/ethnic categories (largely Asian American and Native Americans) visited an art museum or gallery in 2008.

-More than half (52 percent) of U.S. adults with a graduate-level degree visited an art museum or art gallery in 2008. That is, more people in this demographic group visited an art museum or gallery in 2008 than did not, a trend that is unique among benchmark arts activities.

-About one-quarter of adults ages 18 to 64 visited an art museum or gallery in 2008. The attendance rate drops sharply for adult older than 75 years.

-Residents of the Pacific region (West Coast) were among the most likely to go to art museums or galleries in 2008.

-Crossover of art museum attendance and attendance at other art activities were notably high. At least 50 percent of attenders at jazz, classical music, Latin music, opera, ballet, other dance, craft fairs, performing arts festivals, and historic sites also visited an art museum in 2008.

-Approximately 69 percent of adults who purchased original art within the last year also visited an art museum or gallery in 2008.

Interested in the survey results for other areas of the arts and how they compare with the last survey (completed in 2002)? Check out the report here.

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