Street Art’s steadily growing appreciation

Detail of mural by Dragon 76 in Long Beach, California – Photo ©2016 Rolf Goellnitz

The days, where street art was a niche discipline are definitely over… the changing demographics of art buyers has an impact, which also produces impressive monetary results, whether you like it or not!

Best regards,

Rolf Goellnitz

New York – the Mecca of Contemporary Art

©Michael Burges – Reverse Glass Painting – No. 02 – 2014

I like to share this excerpt from the latest artprice.com annual report

New York – the Mecca of Contemporary Art

The United States has recovered its leader position on the global Contemporary art market, resuscitating
the fierce competition with China. In total the United States generated $650 million from Contemporary art, nearly $90 million more than China. This strong performance was essentially driven by New York, the global capital of the art market. New York is home to the biggest art collectors, the most powerful galleries and the most prestigious museums. It also has the strongest networks, allowing the fastest emergence of young artists in the world. In fact, almost the entire value of the United States’ Contemporary art auction turnover is generated in New York ($631 million in 2014/20151, i.e. 97% of the US Contemporary art market). The city is today the unchallenged epicenter of the ultra-high end of the art market. With just 6% of the global number of lots sold, New York generates 36% of the global turnover2. In fact, New York is ideally placed to benefit from the current boom in the art market, which is being driven by a minority of ultra-rich individuals and institutions with investment budgets in the millions of dollars. Christie’s and Sotheby’s generate their best turnover figures in New York and hammer their best results in the Big Apple. Nine of the top ten best results during the 2014/2015 period were hammered in New York, and one in London. The intense media focus on the ultra-high end of the art market tends to overshadow the fact that more than half the artworks sold in the city sell for under $5,000. So New York’s art offer is not exclusively reserved for a wealthy elite and it remains accessible for all kinds of non-professional art aficionados.

 

Most Art Is Affordable!

Anybody, who reads about those Multimillion Dollar deals, realized mainly at auctions, held by Christie’s, Sotheby’s and Phillips, must get the impression that any art of any artist by most means is not affordable. Fact is the opposite and I like to quote in this context from the latest Contemporary Art Market Report published by Artprice.com (CEO Thierry Ehrmann):

…”Art is not exclusively reserved for well-advised investors or wealthy initiates. The lion’s share of the market remains within reach of those with small or moderate budgets. Each year, between 100,000 and 200,000 works of art produced by clearly identified artists (irrespective of creation period) are sold at auction for less than €10,000 throughout the world, and around 80% of lots can be acquired for under €5,000. There is thus a huge choice, and it is possible to make significant acquisitions without spending a fortune. The spectacular results we see in the media concern a minute proportion in an overall market that is only unaffordable by reputation. In the contemporary field, results higher than €50,000 involve 6% of the lots sold, and hammer prices of several millions only 0.3%. Art is not unaffordable: the largest range in the offer – 66% of contemporary works – consists of pieces that can be bought for less than €5,000″…

Have a pleasant weekend,

Rolf Goellnitz

OBEY and Bid!

The Los Angeles Art Association (LAAA) in cooperation with paddle8 presents a benefit auction by emerging and established artists. All proceeds will benefit LAAA, a charitable organization with the mission to provide opportunities, resources, services and exhibition venues for Los Angeles artists.

A great opportunity, to get some descent artwork and help at the same time!!!!!! So check out the links, please!

Best,

Rolf Goellnitz

I read the news today – oh Boy!!!

The artnet news in fact – How shocking this was to me, when none of the artists, who I represent, made it in the list of the TOP 100 Living Artists.

And than I thought – well monetary value is not everything, maybe some of them are at least to be found in the Top 100 of most exhibited artists in the world, I mean, seriously…

Again – nothing!

Shortly before my eyes filled with tears, I’m not sure if due to the facts or the fine print  – I found comfort.

Abigail R. Esman handed it to me in her article for http://blogs.artinfo.com/culturalaffairs/

Quote: “… But most of all, I’d like to see the abandonment of all such lists completely.  I can’t help but think of the research a couple of years ago which revealed that most people spend seven to nine seconds looking at a work of art. That’s nowhere near as long as we spend reading lists of who sold where for what. So although it may sound archaic, maybe even a little trite, here’s a simple thought I’m just going to put out there: how’s about we stop looking so much at the numbers, and look just a little bit more deeply at the art?”

So!? What Do You Think?

Let me know!

Hammer Prices in New York

Sales of photographs are attracting an ever-growing population of collectors and the rise in demand was reflected in last year’s auction prices with twelve 7-digit results, a general price index up 25% and an auction turnover ten times higher than 10 years ago.
In New York at the beginning of April, Phillips, Sotheby’s and Christie’s were offering several hundred photographs with estimated prices ranging from $800 to $500,000. The sales took place on April 1 at Phillips, April 1 (evening sale) & 2 at Sotheby’s, and April 3 at Christie’s. Here are some of the results:

Top Bid at Christie’s was:

©Irving Penn

 

 

 

 

 

 

 

 

 

 

IRVING PENN (1917-2009) 
Frozen Foods, New York, 1977
dye-transfer print, printed 1984
 signed, initialed, titled, dated, notation ‘14696’ in ink, Penn/Condé Nast copyright credit reproduction limitation stamp and stamped ‘signed prints of this photograph not exceeding 33’ (on the reverse of the mount)
image/sheet: 23 3/8 x 18¼in. (59.5 x 46.4cm.)
mount: 26 x 21in. (66.1 x 53.4cm.)
Estimated $60,000 – $80,000 it realized $198,000
Six of the Top Ten lots were Irving Penn photographs out of which four sold for an 6-digit amount. One of four photographs by Richard Avedon was also sold for a price of this category.

©Richard Avedon

 

 

 

 

 

 

 

RICHARD AVEDON (1923-2004)
 Nastassja Kinski and the Serpent, Los Angeles, California, June 14, 1981 
gelatin silver print
 signed and numbered ’51/200′ in pencil (on the mat)
image/sheet: 28 x 42in. (72.2 x 109cm.) Estimated at $70,000 to $90,000 realized $137,000  which was $18,000 less than another print of the edition had realized two days before at PHILLIPS.

The cheapest Lot was sold for $938 despite an estimate of $3,000 to $5,000 and created

by 
DANNY LYON

©Danny Lyon

 

 

 

 

 

 

 

Total Turnover at Christie’s $4,230.000

The two top lots out of the ~ $4,000.000 result at Sotheby’s were:
©Alfred Stieglitz

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ALFRED STIEGLITZ (1864-1946) Georgia O’Keeffe – Nude Study, Palladium print, mounted to board, 1918-19 Size 9 1/2  by 7 5/8 in. (24.13 by 19 cm.) Estimated at $300,000 to $500,000 the lot realized $365,000

and

©Man Ray

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Man Ray (1890-1976),’Champs Delicieux: Album des Photographies,Paris 1922, an edition of 40 numbered copies), a volume containing 12 tipped-in photographs of rayographs by Man Ray, with a printed 3-page preface by Tristan Tzara and colophon signed and numbered ’34’ by the photographer in ink.  Folio, original red wrappers with yellow printed label
The photographs approximately 8 3/4  by 6 3/4 in. (22.2 by 17.2 cm.)
Estimated at 250,000 — 350,000 it brought $281,000 including Buyer’s Premium.

The least expensive deals of the day were photographs by Berenice Abbott. Three of his images offered for $5,000 to $7,000 each, all changed hands for $3,750 each including Buyer’s Premium.
Here  is one of them:

©Berenice Abbott

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BERENICE ABBOTT (1898-1991)’Sumner Healey Antique Shop’, numbered ‘170’ in the negative, the photographer’s Federal Art Project ‘Changing New York’ and caption stamps, with title, date, and annotations in colored pencil, on the reverse, 1936 (Yochelson, Middle East Side, pl. 33) Size 9 1/2  by 7 1/2  in. (24.1 by 19.1 cm.)

At PHILLIPS,  April 1, around Lunch Time Auctions (10AM and 2PM) offering 271 modern and contemporary lots, we saw

HIROSHI SUGIMOTO (1948)

©Hiroshi Sugimoto

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Music Lesson, 1999, Pigment Print 53 1/8 x 41 3/4 in. Signed in ink, printed title, date and number 5/5 on an artist’s label affixed to the reverse of the frame. Estimated at $200,000 to $250,000 with a result of $629,000 in front.

Followed by fellow country man
NOBUYOSHI ARAKI (1940), ‘From Close to Range’,1991
©Nobuyoshi Araki

 

 

 

 

 

 

 

 

 

 

 

A Gelatin silver print diptych, printed 2008. Each 49 x 39 7/8 in. Overall 52 1/2 x 86 in. (133.4 x 218.4 cm) Right panel signed in pencil on the verso; signed, dated in pencil, printed credit, title and date on a Certificate of Authenticity accompanying the work. Estimated at $80,000 to $120,000 it had generated $191,000 when it changed hands.

Don’t Cry!

Onion (1950-54)
Still life by Josef Sudek

© Courtesy of OMC Gallery

© Courtesy of OMC Gallery

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vintage Silver Gelatin Print
Contact Print 3,5×4.7 in., on 6.6×8.8 in
Signed Sudek with pencil in the margin
At lower right
The verso inscribed with Angela VI with pencil.
Mounted in a mat.
Some light oxidation along the edges,
The lower left marginal corner lightly bent, with a tiny fold in
The margin at upper right.

Literature:

Josef Sudek by Panorama, 1st Edition 1982, page 110
Josef Sudek by Anna Farova, Munich 1999, page 236,
(With similar image dated 1944-53)

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