How 'bout a Miami winter?

I know it seems like a long time until December hits us, but it's not too early to start thinking about booking rooms and flights for this December in Miami.

Along with Art Basel Miami - the most famous, there will a slew of other fairs (and I'm just touching the tip of the iceberg):

Art-Miami:
The Miami Midtown Arts District
Midtown Blvd (NE 1st Avenue) between NE 32nd & NE 31st Street
Miami, FL 33137

Aqua Art Miami:
AquaHotel in South Beach, near Art Basel Miami Beach
and Aqua Wynwood in the heart of Miami's gallery district

Red Dot Art Fair
Wynwood Art District Art Midtown,
corner of 36th Street and NE 1st Avenue/Midtown Blvd ,
Miami, Florida 33127, U.S.A.

(image - Josef Albers, Homage to the Square: In Late Red, 1959.

This week I thought I would focus on an extensive corporate art collection - that of JPMorgan Chase.

The JPMorgan Chase Art Collection began in 1959 when David Rockefeller, then president of The Chase Manhattan Bank, established the firm’s art program and took the lead in corporate art collecting.

By using a programmatic approach to acquisitions, this collection became a model for other companies worldwide.

In 1960, under Rockefeller’s leadership, an illustrious group of art experts were invited to join an advisory committee to guide the program’s acquisition strategy and set the standard for corporate art practices and administration.

Joining Rockefeller on the Art Committee were renowned museum directors and curators, including Alfred Barr and Dorothy Miller (The Museum of Modern Art); James Johnson Sweeney (Solomon R. Guggenheim Museum); Robert Hale (The Metropolitan Museum of Art); Perry Rathbone (Museum of Fine Arts, Boston) and Gordon Bunshaft (SOM).

With a mandate for high quality and originality, the committee established the pattern that the firm follows to this day. The JPMorgan Chase Art Collection is now one of the oldest and largest corporate collections in the world, focusing on modern and contemporary painting, sculpture, works on paper and photography. The core collection is enhanced by a diverse range of objects from every country in which JPMorgan does business, offering a unique perspective on the firm’s culture.

Auction buzz

The art world is buzzing with news from the auctioneers. Both Sotheby's and Christie's held their spring Post-War and Contemporary Auctions this week, and things went a little bit better for Christie's.

From the New York Times: (read full article)

One night collectors seemed resistant to part with their cash; the next evening they were clamoring to bid. Such was the auction whiplash that occurred over a 24-hour period. Unlike Sotheby’s sale on Tuesday, where bidding was thin and buyers reluctant, Christie’s auction of postwar and contemporary art on Wednesday showed a different face altogether. It was a buoyant hour and a half during which record prices were set for recognized artists like David Hockney.

The sale totaled $93.7 million, just under its high $104.5 million estimate. Of the 54 works up for sale, only 5 failed to find buyers.


(image - David Hockney's Beverly Hills Housewife brought in $7.9 million for Christie's)

Consulting in lean times

Art Consulting is not for the faint of heart. It, like any independent small business, requires moxie, strength, ability to withstand not so great times, and a real g0-getter attitude. I'm lucky that this is a job I love and something that I've stuck with for enough years to forge some strong relationships. In times like these, I see all these newcomers to the art world struggling to find their footing and grasp on to any position available. 

For all those aspiring art consultants out there, I suggest that you keep doing what you love. Perseverance pays off in this sort of economy. And use this time to really seek out what you love - if you're working in a gallery and you'd rather be in a museum, try and make that change happen. Go out there to all the events you can find and network, network, network. 

I've recently discovered a very useful resource just for this - it's a sort of web content aggregator that recommends all these great events and exhibitions. I've been using it a lot lately. Check out MutualArt.com and let me know what you think. And for all those new grads  - keep your heads up and jobs will come along. You have your whole life to work and now to explore the art world in all its glory. 

Maastricht Art Fair

Sorry I've been gone for so long. I've been fortunate enough to spend some time in Europe for the Maastricht Art Fair. Many of the clients that I represent prefer contemporary art, but every so often I'll come across someone who is really interested in finding some quality old master pieces. I'm actually finding that many people are turning to old masters in this recession because they are thought to hold their value better than other styles of art. It is a tried and true painting style that never had that major spike in prices - and thus never had the dip. 

This fair is a force to be reckoned with - and while it has seen a bit of a decline in interest in recent years - dealers are still bringing high quality works of art to market. I'll give a bit more of an update once I have a chance to sit down and breathe a bit. 

Armory Show

Just a quick reminder to all you art-minded folks that you ought to get out to see the Armory Show in NYC this weekend. It should be a great art fair with some really wonderful pieces. I always look forward to this show. 

The first step to learning about collecting is learning about the art - especially the types of art that you like or would like to start collecting. 

Have fun!

Here is the information for anyone who'd like to see it:

Website

Dates and Times:

Piers 92 & 94

Twelfth Avenue at 55th Street
New York City

The Armory Show 2009 Opening Day takes place Wednesday, March 4th for invited guests.

Opening Hours:
Thursday, March 5 - Saturday, March 7 Noon to 8 pm
Sunday, March 8 Noon to 7 pm

Tickets: 

Advance discount tickets are available online: PURCHASE TICKETS

Admission tickets are available at the door during show hours.

Ticket prices

General Admission US$30
Students US$10
Groups (10+) US$15
Run of Show Pass (4 day) US$60
The Armory Show/VOLTA Dual Pass US$40

YSL Auction

Now that I've given you all a little bit of an overview of the art world - don't worry I'll keep writing and keeping you informed - I wanted to note that one of the biggest sales of my lifetime has just happened in Paris. Christie's held a three day, six auction sale for the estate of the late Yves Saint Laurent. All the proceeds are going to his partner's foundation for research into AIDS. Well, the sale went phenomenally well selling over 96% of all items for $477 million. Yes, you read the right - almost half a billion dollars for an art, decorative art, and furniture sale. Incredible right.

So while all the world is worried about finance there are people who have the money to spend $28 million on a "Dragons" chair. The sale may well save Christie's this year (no such luck for Sotheby's yet) and will hopefully show the world that we're not in a permanent downward spiral.