Art Industry News is a daily digest of the most important developments in the art world and the art market. Here is what you need to know this Thursday, December 23.
NEED TO READ
Inside the Freakonomics of the Art Industry – Freakonomics author Stephen Dubner has published a three-part podcast in “the hidden face of the art market”. Out on the other side, he equates the bizarre and opaque machinations of the industry with the diamond trade. “Diamonds are abundant, they are not at all rare,” he explained. “This is another case where supply is purposely limited by resellers, and intense and emotional marketing creates demand that drives the price up far beyond what any normal person might think this piece of rock is not. very beautiful is worth. Its final verdict is that the winners of the art market are, unsurprisingly, mega-galleries, top-selling artists and a handful of museums. Losers? Those who take on low-paying jobs as they try to climb the industry ladder. (The arts journal)
How to count the prices of young artists? – Speaking of the absurd art market, Scott Reyburn asks: hhave price and value completely separated? For young artists, the answer may be yes. “At the present time, it is becoming almost impossible to objectify the construction of prices for many young artists, except to underline the importance of the demand for new names”, explains Jean Minguet, head of the art econometrics at Artprice. (BRONZER)
Curators are among the most trusted professionals – Say what you want about the museum scandals, they seem to have done little to weaken public confidence in art professionals. The latest edition of the Ipsos MORI Truth Index, Britain’s oldest survey of confidence in the professions, found museum curators to be the fifth most trusted, behind nurses, librarians, doctors and teachers. Who are the Conservatives Following trust that? The surprisingly long list includes judges, engineers, scientists and professors. (Hyperallergic)
Was this Ethiopian icon made by an Italian? – A French art historian has a theory that Ethiopia’s oldest religious icon, which was made in Byzantium in the mid-1400s, was actually made by an Italian artist in the 14th century. In his new book, Jacques Mercier maintains that the triptych, Image of Our Lord Jesus Christ, has similarities to the art of the Italian city of Siena from the earlier period, but also appeals to Ethiopian tastes, suggesting that a Sienese silversmith painted it in Ethiopia. The theory would make the object one of the first direct artistic links between Europe and sub-Saharan Africa after Roman times. (BRONZER)
MOVERS AND IMPROVERS
Parrish’s manager leaves in record time – Kelly Taxter stepped down as director of the Parrish Art Museum in the Hamptons after less than a year in office. No reason was given publicly; Parrish Board Chair Mary E. Frank said ARTnews it was “the right thing to do at the time.” Taxter, who previously worked as a curator at the Jewish Museum, began his duties in March 2021. (ARTnews)
Norwegian artist opens gallery – One of Norway’s richest artists, Kjell Erik Killi Olsen, opened a cutting-edge art center in his conservative hometown of Trondheim, near the Arctic Circle. The inaugural exhibition at Kjøpmannsgata Ung Kunst (KUK) was organized by Elmgreen & Dragset with curator Rhea Dahl. The gallery, which provides artists with exhibition fees and production costs, takes a 40% commission on sales to support its operation. (BRONZER)
Possible Caravaggio obtains protected status – A small painting removed from an auction in Spain in April has been granted protected status as an object of cultural interest as experts examine whether it could be an original Caravaggio valued at 50 million euros ($ 56.6 million). The Spanish Ministry of Culture had previously banned its export; its status has now been upgraded by the city of Madrid. (Guardian)
Felix publishes the list of exhibitors – As some European shows push their dates back to early 2022, Felix in Los Angeles is moving forward. The fair announced its lineup of 60 galleries, including over 20 debutants, 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)
FOR THE LOVE OF ART
Drake pays tribute to Virgil Abloh with tattoo – Toronto studio Ganga Tattoo has revealed 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 photograph of Abloh launching a kite on a Louis Vuitton runway in 2018. Drake was one of the many celebrities and thinkers who mourned the loss of Abloh, writing in a tribute on his Instagram , “My plan is to hit the sky 1,000 more times for you. (Complex)
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