Exhibitions Popping Up

Exhibiting artwork does not always require a substantial budget or any funding at all...if you are creative, resourceful and bold!

A few pop-up gallery success stories were discussed in an article published by The Art Newspaper last month. In each case, the projects "benefited in one way or another from a decline in property values, which has meant that some spectacular venues have been available that would normally have been redeveloped or occupied by commercial operators."

If nothing else, this article is a valuable reminder that artwork is the core of an art exhibition. Everything else is secondary.

Click here to read the article

Art Insurance Restrictions

Gallery owners and art dealers have been warned.

A combination of new software and raised awareness of the potential for large-scale destruction caused by natural disasters, such as hurricanes, and terrorists attacks has led insurers to put a cap on their maximum aggregated value. This means that it will be more of a challenge to insure art collections that are displayed or stored in a singe location at any given time, including long-term storage facilities and at temporary events such as art fairs.

The Art Newspaper reported the warning in their Frieze Daily Edition, which was issued by an executive director for the Heath Lambert Group in London, Richard Northcott.

Northcott made the following statements on the issue:

For a long time nobody in the insurance world was monitoring the cumulative value of art shown at fairs or kept in storage,” explains Northcott. “But in the last two or three years the industry has become a lot more sophisticated and a lot more aware of the issue.

There is a limit to the insurance market’s capacity for the cumulative value of policies for a single event like an art fair,” says Northcott. This stands at around $2bn; the insurance value of art at Frieze this year is much lower as the downturn in the contemporary market has led to declining prices, and the many younger galleries exhibiting for the first time are offering less expensive, emerging artists. But he believes that as the art market recovers, “all major art fairs will come under scrutiny by the industry.

Click here to read the article

Art Basel Prospects

As Sam Keller, the Director of Art Basel, resigns from his position, he leaves us with this advice:

"Change continuously with the art world,'' Keller, 41, said in a telephone interview from the Swiss city. "Listen to the galleries who have what it takes to make an art fair.''"

(From Bloomberg: read full article)

So what do these galleries have to say? As an art consultant, Art Basel is one of the major events for the primary art market. For galleries, it is highly recommended to invest art fairs since the exposure presents so many opportunities. Everyone is going to be there from the USA, to Europeans, to the Middle East, and Asia. The same advice goes to art consultants, clients will want to know what's up, especially at Basel, and especially because UBS (the main sponsor of the event) decided to close its art advising department. A sad moment, but it means we have to reassure clients of our necessity even more. It seems like changes are happening with a vengeance, I'll be curious to know what insight will come from Art Basel- I certainly am excited!