In today's 150-page order authorizing Detroit's Chapter 9 bankruptcy, U.S. Bankruptcy Judge Steven Rhodes gave the beleaguered Detroit Institute of Arts some hope to cling to. As reported by Nathan Bomey, Brent Snavely and Alisa Priddle in the Detroit Free Press: Rhodes expounded on his ruling, saying pensions can be cut because they are contracts and urging the city to be … [Read more...] about Settlement Sentiment: Judge Offers Ray of Hope for Detroit Institute; Christie’s Offers Dicey Art Appraisal
Archives for 2013
Fundraising Fizzle? Derek Gillman Leaves the Barnes Foundation, Endowment Goal Unmet
The stated reason for the Barnes Foundation's controversial move to Philadelphia from the Merion, PA, mansion where founder Albert Barnes had intended his collection always to remain was that this relocation was the most viable, least drastic solution to saving the financially beleaguered institution. Maybe not. Yesterday's announcement that Derek Gillman, the Barnes' … [Read more...] about Fundraising Fizzle? Derek Gillman Leaves the Barnes Foundation, Endowment Goal Unmet
Christie’s Explains Its Contemporary Auction Triumph (with videos)
While you're all winging your way to Art Basel Miami (which, for an eighth consecutive year, I'm not attending), your thoughts may be straying to Christie's record-breaking $691.58-million Contemporary evening sale, which some feel may mark the rise before the fall. You will probably not be surprised to hear Brett Gorvy, Christie's chairman for postwar and contemporary art, … [Read more...] about Christie’s Explains Its Contemporary Auction Triumph (with videos)
Sotheby’s Senior Shake-Up: What Might Tobias Meyer’s Sudden Departure Mean?
Sotheby's sudden cryptic announcement Friday that Tobias Meyer had jumped (or was pushed) from his long-time perch as the firm's contemporary art head is the latest (and, because of Meyer's high profile, the most shocking) of a several major management changes (as well as a sweeping, ongoing Review of Capital Allocation and Financial Policies) that have roiled the auction house … [Read more...] about Sotheby’s Senior Shake-Up: What Might Tobias Meyer’s Sudden Departure Mean?
Cryptic Announcement: Veteran Contemporary Art Head and Auctioneer Tobias Meyer Leaving Sotheby’s UPDATED
UPDATE: As soon as I posted this, Sotheby's responded to a few of my queries: I have now learned from a Sotheby's press spokesperson that Meyer has already left Sotheby's and that the auction firm "has no plans to fill [Meyer's former] role of Worldwide Head of Contemporary Art." Responsibilities for the Contemporary evening sales "will be taken by Oliver Barker, Deputy … [Read more...] about Cryptic Announcement: Veteran Contemporary Art Head and Auctioneer Tobias Meyer Leaving Sotheby’s UPDATED
Companion Slideshow for My WSJ Piece on Kimbell’s Piano Pavilion
Better late than never, below is my annotated slideshow illustrating the works and installation details that I mentioned in my review of the Renzo Piano-designed addition to the Kimbell Art Museum---How the Kimbell's Piano Pavilion Interacts With the Art---published in yesterday's Wall Street Journal. In the hardcopy newspaper (as distinguished from the online website), my … [Read more...] about Companion Slideshow for My WSJ Piece on Kimbell’s Piano Pavilion
My WSJ Appraisal of Kimbell Art Museum’s New Piano Pavilion
In my Wall Street Journal piece today, How the Kimbell's Piano Pavilion Interacts with the Art, I mention that concrete is rarely used as a wall on which to hang art and that the material's "characteristic mottling, splotches and 'telegraphing' (dark horizontal striations caused by metal reinforcing bars inside the concrete) distract from a focus on the art." Here's a look at … [Read more...] about My WSJ Appraisal of Kimbell Art Museum’s New Piano Pavilion
Throwing Eggs at Bacon: Roberta Smith Joins Critical Backlash Against Megabucks Art Buyers
Memo from CultureGrrl to esteemed art critics: Art costs money. The most sought-after art is incredibly expensive. You and I can't afford it. Get over it. The sad fact that we'll never be able to own what the super-rich can doesn't mean that we should denigrate them for "flex[ing] their monetary clout, mostly for one another"---a "spectacle" that is "deeply alienating … [Read more...] about Throwing Eggs at Bacon: Roberta Smith Joins Critical Backlash Against Megabucks Art Buyers
Invidious Comparisons: Sotheby’s Contemporary Sale Makes the Best of a Difficult Situation
Before opening the bidding this evening on Andy Warhol's 1963 "Silver Car Crash [Double Disaster]," Tobias Meyer, Sotheby's auctioneer, introduced it as "my favorite." As well he might: Soaring to $94 million ($105.45 million with buyers premium), it far outstripped the previous Warhol record holder, "Green Car Crash," which sold for $71.72 million at Christie's in May … [Read more...] about Invidious Comparisons: Sotheby’s Contemporary Sale Makes the Best of a Difficult Situation
Record $691.58-Million Contemporary Art Auction: How Did Christie’s Do It?
"Tonight promises to be a very exciting evening indeed," predicted Christie's auctioneer Jussi Pylkkänen at the start of tonight's big contemporary auction. He wasn't kidding. The sale achieved the unheard-of total (with buyers premium) of $691.58 million---a world record for any art auction. The sale was 91% sold by lot, and a stunning 98% sold by value. (For the … [Read more...] about Record $691.58-Million Contemporary Art Auction: How Did Christie’s Do It?
Late-Breaking Contemporary Auction News: Bacon at Christie’s; Dia Deaccessions at Sotheby’s
A late-breaking development on Christie's website regarding its top-estimated lot for tonight's big sale of Post-War and Contemporary art: Please note that Francis Bacon’s "Three Studies of Lucian Freud," previously lot 32, will now be included in the sale as Lot 8A following Lot 8, "Apocalypse Now" by Christopher Wool. In addition, the start of the auction will be delayed by … [Read more...] about Late-Breaking Contemporary Auction News: Bacon at Christie’s; Dia Deaccessions at Sotheby’s
Corrective Post: Warhol’s “Double Disaster” IS in Sotheby’s Sale
Late last night, I erroneously reported that Lot 16 from Sotheby's big Wednesday evening Contemporary sale---Warhol's 1963 "Silver Car Crash [Double Disaster]"---was missing from the auction's online catalogue. It is, in fact, in the online catalogue, and it is definitely in the sale. (I had questioned whether it might have been withdrawn and said that I would check with the … [Read more...] about Corrective Post: Warhol’s “Double Disaster” IS in Sotheby’s Sale
Crystal Bridges Stieglitz Glitch: Mere Three-Month Display UPDATED
It doesn't bode well for Crystal Bridges Museum's stewardship of Fisk University's Stieglitz Collection that the Arkansas institution's inaugural display of the 101 works (in which it controversially purchased a half-share for $30 million) will run for a mere three months---Nov. 9-Feb. 3. In giving the collection to Fisk, artist Georgia O'Keeffe had stipulated that the works … [Read more...] about Crystal Bridges Stieglitz Glitch: Mere Three-Month Display UPDATED
Who Wants to Be My 10,000th Twitter Follower?
I may actually miss the moment when my big Twitter landmark---10,000 followers---occurs. In fact, as far as my entire online existence (including blogging) is concerned, I'm going to be missing a great deal this month. That's because I have two trips scheduled in rapid succession---a vacation and a workation. During my travels, I'm not going to be as fixated as I usually am … [Read more...] about Who Wants to Be My 10,000th Twitter Follower?
Fright Night: Detroit Institute of Arts’ Attorney Shines Light on City’s Murky Bankruptcy Discussions (with video)
Halloween seems like the ideal time to confront a scary situation that spooks the artworld---the possibility that the Detroit Institute of Arts might be forced to sell masterpieces from its collection to help satisfy its destitute city's creditors. Last week, an important behind-the-scenes player not given to public pronouncements, Richard Levin, the NYC-based lawyer … [Read more...] about Fright Night: Detroit Institute of Arts’ Attorney Shines Light on City’s Murky Bankruptcy Discussions (with video)