While we breathlessly await this week's expected final report from Christie's on its appraisal of some 2,781 works in the Detroit Institute of Art's collection, the legal wars over the city's financial morass are escalating. Matt Helms and Brent Snavely of the Detroit Free Press today report: U.S. Bankruptcy Judge Steven Rhodes on Monday allowed appeals of two of his … [Read more...] about Litigation Nation: Bankruptcy Judge Allows Appeals (but Fodor’s puts art-rich Detroit on 2014 “Go List”)
Bye-Buy “Big-Box”: Amy Cappellazzo to Leave Christie’s
In its just released announcement (not online) of the imminent departure of Amy Cappellazzo from her position as Christie's international chairman of Post-War & Contemporary development, the auction house made it clear that this was not a cutting-of-ties. The press release included this remark by Cappellazzo: I will soon embark on a private venture aimed at fully … [Read more...] about Bye-Buy “Big-Box”: Amy Cappellazzo to Leave Christie’s
Not Just a Pension Subvention: Why “Grand Bargain” to Rescue Detroit Institute of Arts Could Work
Sometimes winning or losing philanthropic support is a question of how you structure the grant proposal. Foundations approached in recent months by Graham Beal, the Detroit Institute of Arts' director, had all told him the same thing: They would not provide funds towards the $500 million that Detroit's emergency manager, Kevyn Orr, said he wanted the museum to come up with … [Read more...] about Not Just a Pension Subvention: Why “Grand Bargain” to Rescue Detroit Institute of Arts Could Work
My Wool-y Photo Op: “Sell(out) the Journalist!” (plus: Perl Hurls)
I was as surprised as Carol Vogel may have been when I discovered that I had made a cameo appearance in her NY Times article about the "hard sell" buildup to last month's big Contemporary auctions. Now it seems that I've popped up in yet another art-market article. As in the Times photo, I'm at the Christie's press preview for what was to become its $691.58-million … [Read more...] about My Wool-y Photo Op: “Sell(out) the Journalist!” (plus: Perl Hurls)
Trial-By-Ice: How’s the Kimbell’s New Piano Pavilion Doing after the Storm? UPDATED
UPDATE: Late opening tomorrow (Tuesday): noon instead of 10 a.m. The Kimbell Art Museum's new Renzo Piano Pavilion has undergone trial-by-ice. Having endured a treacherous wintery storm that paralyzed much of North Texas, the museum was closed Friday, Saturday and Sunday. (It's also closed today, but it's always closed on Mondays.) At this writing, there's no indication on … [Read more...] about Trial-By-Ice: How’s the Kimbell’s New Piano Pavilion Doing after the Storm? UPDATED
Settlement Sentiment: Judge Offers Ray of Hope for Detroit Institute; Christie’s Offers Dicey Art Appraisal
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
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?