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Contemporary art trends and news from Asia and beyond

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    Art Radar Asia News conducts original research and scans global news sources to bring you selected topical stories about the taste-changing, news-making and the up and coming in Asian contemporary art. ________________________

Posts Tagged ‘Christies’

Contemporary art market Asia now bigger than US for first time says Artprice

Posted by artradar on November 11, 2009

ASIAN ART MARKET

Visitors enter a Sotheby's auction room in Hong Kong on October 6, 2008 of modern and contemporary art. MIKE CLARKE/AFP/Getty Images

Visitors enter a Sotheby's auction room in Hong Kong for a sale of modern and contemporary art on October 6, 2008.

For the first time ever, the total auction revenue from contemporary art in Asia is greater than the total of the United States artprice reports. The statistics are collected from a 12-month period spanning from July 2008 to June 2009. Asia generated US $193 million versus the United States’ US $183 million. China is the highest gainer out of this trend, having generated US $141 million from contemporary art during the same period.  According to the report, this means China is continuing to “hold on to its third place global geographical art auction revenue ranking.”

The establishment of foreign auction houses such as Christie’s, Sotheby’s and Bonhams in Hong Kong, in combination with the financial strength of Hong Kong and Shanghai are to be accredited for China’s position. For those who are looking to begin collecting Asian art, this does not mean that the price of contemporary Chinese art is back up to its sky-high prices of a couple of years ago. Artprice’s report tell us that in the first half of 2008 the average price of contemporary works sold in China was $65,500, however, in the first half of 2009, this average dropped to $26,800.

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Posted in Asia expands, Auctions, Business of art, China, Chinese, Hong Kong, Market watch, Trends | Tagged: , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

Art in storage, at fairs and sales – is it getting harder to insure?

Posted by artradar on October 28, 2009

ART FAIR INSURANCE

Last week, The Art Newspaper posted an interesting report that claimed that art is getting harder to insure. According to their source, Richard Northcott, executive director of the art, jewellery and private client division at Heath Lambert Group (London), firms that protect specialist fine art insurers are becoming cautious of insuring a large amount of art kept in one place at the same time, such as in storage warehouses and exhibitions. The article explains why:

“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.”

This is partly owing to 9/11 and Hurricane Katrina in 2005, which made insurers aware that a single catastrophe could wipe out an entire art fair or storage facility, and partly owing to recent developments in software that have made it much easier for re-insurers and specialist fine art insurers to track the location of the thousands of policies they have underwritten at any one time.

At Art 40 Basel in June, “there were already murmurs of a problem”, Northcott says.
At Art 40 Basel in June, “there were already murmurs of a problem,” Northcott says.

“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”.

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Posted in Art insurance, Business of art, Fairs, Services | Tagged: , , , , , , , , , , | 1 Comment »

Top price for Oliver Stone’s Zhang Xiaogang, half lots unsold at Christies Hong Kong sale – Bloomberg

Posted by artradar on December 1, 2008

Zhang Xiaogang

Zhang Xiaogang

ASIAN ART AUCTIONS

A painting by Chinese contemporary artist Zhang Xiaogang offered by Hollywood director Oliver Stone fetched HK$26.4 million ($3.4 million) at a Hong Kong art sale where half the lots were unsold, reflecting the prevailing gloom.

Zhang’s “Bloodline: Big Family, No. 2,” from 1995, was the most-expensive lot sold at Christie’s International’s evening sale yesterday. There was less enthusiasm for most other lots: buyers shunned 44 percent of Asian contemporary works and more than half of 20th-century Chinese paintings for a sale that tallied HK$140.6 million.

“You could sense the caution; no one wants to make a rash move,” said Tian Kai, a Beijing-based art dealer who flew in to attend the sale. “It’s a sign of the times.”

Hong Kong’s art market remains in the throes of a slump it heralded in October when Sotheby’s auction in the city missed its target by half. Subsequent major auctions in New York, London and Dubai fell short of estimates, spelling an art-world rout sparked by the Sept. 15 bankruptcy of Lehman Brothers Holdings Inc. and the ensuing global credit and stock-market crisis.

Zhang’s 1.8 meter-by-2.3 meter work shows a pursed-lipped couple with a tuft-haired toddler painted yellow. It went to an anonymous buyer after a 2-minute tussle between phone and salesroom bidders.

Last night’s sale was the most-glamorous part of Christie’s five-day Hong Kong auction (Nov. 29-Dec. 3) of 2,500 antiques, gems and art that the company expects to raise HK$1.75 billion. At least 500 people, some decked in their evening best of chiffon, silks and gems, packed the standing-room-only auction- hall at the Exhibition Center which overlooks the harbor.

‘Price Readjustment’

“Overall, there’s clearly been a price readjustment,” said Jonathan Stone, Christie’s Hong Kong-based international business director, in an interview after the sale. Stone, not related to Oliver, said the company is pleased that it set several artist records at the sale, “economic circumstances notwithstanding.”

Artist record for Zao Wou-ki

“Hommage a Tou-Fou,” a painting by China-born, Paris-based Zao Wou-ki sold for an artist record of HK$45.5 million. Chinese artist Sanyu’s “Potted Chrysanthemums” fetched HK$8.4 million, against the presale top forecast of HK$5 million.

Biggest upset Zeng Fanzhi’s Mao

Last evening’s biggest upset was a 1993 painting of Mao Zedong by China’s most-expensive contemporary artist Zeng Fanzhi, which failed to sell against a presale estimate of HK$30 million.

Bidding on Zeng’s oil-on-canvas “Mao I: From the Masses, to the Masses” was labored, even with auctioneer Andrea Fiuczynskic’s effort at coaxing more bids. The last offer of HK$28 million wasn’t good enough for Fiuczynskic, who rapped the gavel and called in the lot.

“Mao I,” is the twin of a like-sized painting “Chairman Mao II,” also dated 1993, that fetched 2.17 million pounds ($3.3 million) at Phillips de Pury & Co.’s London auction on June 29.

Other Oliver Stone owned works sold at near low estimates

Oliver Stone had consigned five Chinese contemporary paintings at this sale, three of which featured at last night’s event. The other two, both Liu Weis, sold for a combined HK$7.5 million, near the low end of estimates. Two last paintings will be offered at Christie’s day sale this afternoon.

“These are challenging times,” said Tian. “Both sellers and buyers are trying to make the best of a difficult situation.”

Southeast Asian art prices eased

Demand for Southeast Asian art, whose prices defied the demand weakness at Sotheby’s October auction, eased at this sale.

A mixed-media painting by the region’s most-expensive painter I Nyoman Masriadi fetched HK$2.1 million, against the work’s top estimate of HK$1.6 million. The priciest lot sold at the Southeast Asian auction was Filipina Juan Luna’s “Roman Maidens,” which fetched HK$4.7 million, against the painting’s low estimate of HK$8 million.

Except for wines, Christie’s charges buyers 25 percent on the first HK$400,000 of the hammer price, 20 percent of the amount above that, up to and including HK$8 million, and 12 percent of subsequent sums.

Posted in Auctions, China, Chinese, Hong Kong, I Nyoman Masriadi, Indonesian, Market watch, Pop Art, Zeng Fanzhi | Tagged: , , , , , , , , , , , , | Leave a Comment »

Takashi Murakami on why the War helped create Japanese pop culture

Posted by artradar on December 1, 2008

Takashi Murakami

Takashi Murakami

 

 

 

 

 

JAPANESE ART LECTURE HONG KONG

On November 28 2008 world-renowned Japanese artist Takashi Murakami gave a lecture organised by Christie’s as an ancillary event appended to their November sales in Hong Kong. He is the only visual artist in Time’s 2008 list of the 100 most influential people in art.

Single greatest catalyst for explosion of interest in art

In the introduction to the lecture by Edward Dolman CEO of Christie’s, Dolman thanked Takashi Murakami for being the ’single greatest catalyst’ for the ‘explosion of interest’ in the art world in the last ten years. He explained that twenty years ago art was sold to just ‘a few very privileged communities’ but today art and design have become part of the popular culture and Takashi Murakami has played a ‘huge’ part in bringing art to the people and making it accessible for them.

Murakami’s recession concerns

Murakami opened with the some comments on the current financial recession expressing concern for the market and the 130 sculptors, artists and animators employed by his Kaikai Kiki company. In all 400 peple are connected to the organisation. But he stressed these circumstances are normal to him as an artist implying that the marketing of art is always a challenge.

Murakami identifies himself as ‘otaku’

The substance of the lecture was about the main movements in Japanese popular culture principally ‘otaku’, a culture of young men isolated from mainstream society who are unmarried and often live at home spending hours on video games. Murakami clearly wants to be identified with the group mentioning a couple of times during the lecture that ’I myself am unmarried’. It is difficult to know whether this is the disingenuous ploy of a marketing genius however he did seem at pains to explain the movement which he tried to communicate with words, images and one and a half minute videos. But in repeated asides to his audience ‘you probably won’t understand this’ there was a subtext of futility. 

Malaise in Japanese society

The sense of not being understood which pervaded the lecture prompted a question from the audience at the end: “How important is it to you that people who see your work understand your culture?” This triggered more explanations delivered with some passion. “Japanese people cannot identify themselves as Japanese so they share the ‘otaku’ culture as an alternative. To be part of community is a fundamental human need. Japanese society is now peaceful and noone is starving. Noone needs to worry about what to eat the next day but there is still a malaise, it is difficult to find satisfaction.”

So ’Otaku’ is about filling that hole.

Otaku is like a drug

A breathy young woman said she had noticed that were lots of women in the animation asked if there was a link between this phenomenon and why  ’otaku’ men remained unmarried and whether Murakami himself planned to stay unmarried. The translator deftly ignored the latter question. Murakami explained that the life of an ‘otaku’ male is like the life of a drug addict. Hours are spent on video games to get a dopamine like high but they need to spend more and more hours to get the same kick, like ‘hard-core junkies’. ‘Otaku’ guys find it difficult to communicate with girls, they are hard to approach.

Otaku idols

The tendency to idolatry expressed by ‘otaku’ followers was not explicitly stated by Murakami but came across strongly in the videos. Women are portrayed as inaccessible over-feminine superheroines with magical powers, flat and unreal. Oh Murakami mentioned here, in an interesting aside, that ‘otaku’ men don’t like computer-generated animation, they like their women drawn by hand. Is this as close to the physical as they can comfortably get?

But it is not just women who are idolised….the behaviour spans the genders. We were shown a curious, almost alarming  video – but then we had been warned that we probably wouldn’t understand – in which a group of guys surrounded one young man on a small stand whose dancing they were imitating. The dance disintegrated into what seemed to be genufluctions and adulation. There were no women; the men were awkward and, to use Murakami’s word, ‘uncool’.

Otaku has roots in defeat of Japan in World War II

So where does this intriguing culture of geeky rites, addictions and fantasy characters come from? Murakami has a surprising theory. He believes that the defeat of the Japanese in World War II led to a rejection of the Japanese identity, a turning away from Japanese culture. “Winning countries were able to maintain their culture but we had to break the link with our past, we had to create something completely new”. That the War is even offered as an explanation of a movement which arose 50 years after the event is startling. National shame is still an issue for Murakami and, so he claims, for all of Japan. This is an interesting theory but not altogether convincing: after all why is ‘otaku’ and Japanese culture becoming such a popular export to the rest of the world including the World War II winners?

What will we see next from Japan and otaku?

And what can the rest of the world expect to see as the next export? Well some of the ‘otaku’ fads Murakami mentions are ‘itasha’ (car sticker art) and ‘itansha’ (bicycle and motorbike art). ‘Otaku’ males who are unmarried have plenty of spare money and they spend it on the latest ‘otaku’ fad. Giant car stickers of cartoon cute manga and video game heroines adorn vehicles. There are ‘otaku’ spots with shops dedicated to ‘otaku’ gear.

‘Otaku’ girls are developing their own culture in which they experience unreal love for male fantasy characters which they express by dressing up as the object of their desire. In the female version of the ‘otaku’ culture, again alarmingly but we won’t go into that further here, there are elements of masochism and pain.

Art is a bloodless revolution for Murakami

So what is art to do in this culture? How is art responding? These questions haunt Murakami who says they have made him question the purpose of art. He keeps a sticker on the wall of his office setting out defintions of art. In sum he says  ”Art is a bloodless revolution – that is the most important thing for me”.

So war, blood and fighting are never far from Murakam’s mind it seems. He showed us another video created by MR. a member of Kai Kai Ki Ki in which cute schoolgirl-aged females played with cuddly toys and then appeared dressed up as fantasy characters shooting eachother in survival games. “Japanese perceive war as unreal”, explained Murakami, ”they play at war games they are just playing, war is just a sport. Japanese people don’t link war with death and pain.”

takashi-murakami-book

Click to buy Murakami book

Murakami embraces Japanese identity

While it is more of a stretch to accept Murakami’s self-proclaimed identity as an ‘otaku’ male – after all how can you spend hours playing video games alone in your bedroom if you run a multi-million dollar art factory – there can be no doubt that Murakami’s identity as Japanese is keenly felt. On more than one occasion he came to the defense of Japan. That the Japanese treat war as a fantasy game “is not good or bad” he says” it is just the situation”. In defense of criticism – raised by himself a propos of nothing obvious - that the Japanese do not donate to charities he says that the Japanese prefer to contribute their time not money.

Takashi Murakami is a complex man. Speaking quietly, he is articulate but, in true ‘otaku’ style, somewhat uncomfortable in himself-  at the beginning of the lecture to the organisers ”I am sitting here, what do you want me to do”. Dressed in grungy artist clothes surrounded by Christie’s suits, speaking slickly and acting awkwardly: who is Takashi Murakami? Many things:  a businessman, an ‘otaku’ nerd, a Japanese national, an artist but most important of all he is a phenomenon who is having a profound influence on the course of global culture.

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Posted in Cartoon, China, Fantasy art, Hong Kong, Identity art, Japanese, Manga, Pop Art, Profiles, Recession, Takashi Murakami, Utopian art, War | Tagged: , , , , , , , , , , | 1 Comment »

Chinese, Indian leading artists fail to sell at Sotheby’s Asian Art evening sale October 2008

Posted by artradar on October 5, 2008

Kang Hyung-Koo

Kang Hyung-Koo

 

 

 

REPORT FROM THE AUCTION ROOM

Big name Chinese and Indian artists and several premium lot artworks failed to sell at Sotheby’s October 2008 evening sale of contemporary and modern Asian art but the sale pointed to a new trend of enthusiastic collecting interest in South East Asian art.

Sotheby’s presented its first evening sale of Asian art in Hong Kong 4 October 2008 following Christie’s lead in the Spring auctions. Although Sotheby’s was more aggressive in the number of lots offered (Sotheby’s 47, Christie’s 32), Sotheby’s sale was generally a more diverse cautious offering compared with Christie’s. Sotheby’s presented:

  • artworks covering more time periods (Sotheby’s contemporary and modern, Christie’s contemporary only)
  • artworks from more geographical markets ( Both: Chinese, Indian, Korean, Japanese, Sotheby’s added Filipino and Indonesian)
  • a greater price range at Sothebys with given estimates ranging from US$13,000 to more than US$3.85 million (Christie’s lowest given estimate was US$64,100 and ranged up to US$3.2m).

The results however could not have been more different. While Christie’s sale was a resounding success Sotheby’s sold only 28 of the 47 lots on offer.

The auction room was packed with all of the 200 or so seats taken and though more seats were brought in 30-40 people had to remain standing at the back. There were two rows of Sothebys staff (30-40 people) taking telephone bids. The auction room hummed with anticipation and got off to a roaring start with the first two lots. Filipino artist Ronald Ventura’s ‘Pinamumugaran’ attracted furious bidding and achieved a price of US$230,000 ex premium compared with estimates in the range US$13,000 to US$23,000. The next lot Indonesian artist Handiwirman Saputra’s ‘Mental Series No 8′ estimated at US$25,000- US$40,000 was also successful and eventually sold for US$140,000 ex premium.

Enthusiasm quickly waned during the next two lots of Indian art: lot 3 by  Thukral and Tagra just exceeded the estimate and lot 4 by Jagannath Panda missed its estimate.

The first big upset was lot 5 Subodh Gupta’s ‘Untitled’ estimated at US$1.5 – 2million. Known as the leading Indian contemporary artist Gupta was the first Indian contemporary artist to be included in international auction sales. Sotheby’s had high hopes for this lot but it failed to meet the reserve and went unsold. This set the tone for the next 7 lots; although the works were by  big name Indian and Chinese contemporary artists only 2 (Zhang Xiaogang and Feng Zhengjie) sold just scraping the bottom end of the estimates.

I Nyoman Masriadi

I Nyoman Masriadi

The remainder of the sale was slow and bidding was sticky apart from a couple of bright spots. Indonesian artist I Nyoman Masriadi’s ‘Sorry Hero, Saya Lupa’ estimated at US$48 – 75,000 attracted wide bidding from the room and phones and was finally sold for over US$500,000. Other artists who attracted several bidders and sold above estimates included Korean artists Lee Bul and Kang Hyung-Koo and Indonesian artists Agus Suwage and Affandi.

Contemporary Chinese artists who failed to sell any works in the sale included Liu Wei, Wang Guangyi, Tang Zhigang, Zeng Fanzhi, Yan Pei-ming, Feng Lijun. Chinese Moderns were not spared and lots by Liao Jichun, Chang Yu, Zhu Dequn were not sold. Other Asian artists who were not successful included Indians Subodh Gupta, Justin Ponmany, Japanese artist Takashi Murakami and founder of new media art Nam June Paik.

Some commentators suggest that this sale has been less successful because it coincides with a structural turning point in buyers’ tastes which are speculative and fad-led by nature and that interest in Chinese contemporary art has been replaced with a new enthusiasm for Korean and South East Asian art.

Fads aside, the correlation between prices of works and demand is certainly striking demonstrating a new price sensitivity by buyers of Asian art. September’s financial meltdown is no doubt the leading cause of the many failures in this sale but other factors may also be involved. The number of auctions and fairs has exploded in the last two years providing excess supply of art just when demand is reducing. This Sotheby’s auction competes with the concurrent Hong Kong International Art and Antiques Fair in which art is shown by over 80 galleries in 5000 sq metres of space on the floor above Sotheby’s sale at the Hong Kong Convention and Exhibition Centre. The Sotheby’s sale also overlaps with Korea’s leading auction house Seoul Auction’s first auction in Hong Kong which is offering high quality Korean Japanese Chinese and Western modern and contemporary works.

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Posted in Auctions, China, Chinese, Filipino, Globalisation, Hong Kong, Indian, Indonesian, Japanese, Korean, Market watch, Painting, Recession, South East Asian | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 2 Comments »

Iranian art market booms for younger artists – Artprice

Posted by artradar on September 7, 2008

Farhad Moshiri Eshgh

Farhad Moshiri Eshgh

 

 

IRANIAN ART MARKET

“The vitality of the Middle-Eastern market is giving a number of young Iranian artists a healthy price index on the secondary art market” says Artprice’s online magazine Art Market Insight.

In October 2007, at only his second auction appearance, Christie’s Dubai generated a bid of $50,000 for a painting by Afshin PIRHASHEMI (born 1974) entitled Those Four Days.  Just a month earlier in Paris, Artcurial sold his painting Memory for 6,000 euros and by  April 2008 his triptych ’Lonely’ created in 2005 commanded an astounding price of $110,000 at Christie’s in Dubai.

The work of two young Iranian women are beginning to command attention: Shirin ALIABADI and Shadi GHADIRIAN (born in 1973 and 1974 respectively) create works inspired by the challenges facing women. Shadi Ghadirian’s photos show veiled women with contemporary objects and her most famous piece, Stereo, sold for £9,000 (over $18,000) in 2007 at Sotheby’s in London.

Stimulated by developments in the art market infrastucture including the introduction of art fair, Art Dubai in 2007 and the appearance of auction houses (Christies 2006, Bonhams 2008), contemporary artists from Tunisia, Egypt, Morocco, Lebanon and Iran have seen increasing attention and price inflation.

Iranian Contemporary Art - Rose Issa - buy

'Iranian Contemporary Art' by Rose Issa - click to buy book

Shirin Neshat

and Farhad Moshiri are two artists who are now well known on the international art scene. Farhad Moshiri became the highest selling Iranian artist when his 2 metre high bronze work ‘The Wall (Oh Persepolis)’ fetched no less than $2.5 million at Christies Dubai in April 2008 trouncing its estimate of $400,000-600,000. Farhah Moshiri is best known for his jewel art pieces in which he covers objects or makes images with fine layers of gold or Swarowski crystals.

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Sotheby’s to Move Asian Art Auctions to Hong Kong from New York – Bloomberg

Posted by artradar on August 14, 2008

 

AUCTION MARKET WATCH Sotheby’s said it will cease holding auctions of Asian contemporary art in New York and “consolidate” them instead in Hong Kong, with biannual sales in the Asian city.

Sotheby’s said it will organize dedicated auctions of Chinese, Japanese, Korean and Southeast Asian art in April and October in Hong Kong, starting next year. Its Sept. 17 sale of such Asian works in New York will be its last in the city, said Rhonda Yung, Sotheby’s Hong Kong-based spokeswoman, in an interview. The decision doesn’t preclude sales of batches of Asian artworks at its New York, Paris and London auctions, Yung said.

The move by the U.S. auction house tracks that of London- based rival Christie’s International, which held Asia’s first major evening sale of the region’s contemporary works in Hong Kong in May. Artist Zeng Fanzhi’s painting of masked Red Guards of the Cultural Revolution era fetched a Chinese contemporary-art record of HK$75.4 million ($9.7 million) at Christie’s inaugural sale.

“It’s a shrewd decision,” said Tian Kai, a Beijing-based contemporary-art dealer. “While Europe still has the top collectors of Asian contemporary art, being in Hong Kong shows Sotheby’s commitment to a growing market.”

Tian said Christie’s has about 60 percent of the Asian contemporary-art auction market, while Sotheby’s has 40 percent. Christie’s has a “good but not insurmountable” lead over Sotheby’s in that market, Tian said.

“It has become increasingly evident that contemporary Asian works have consistently fetched the highest prices at auction in Hong Kong,” said Kevin Ching, Sotheby’s Hong Kong-based chief executive officer, in a statement.

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India Art Summit August 2008 is India’s first contemporary art fair

Posted by artradar on August 13, 2008

Sohan Qadri

Sohan Qadri

 

 

INDIA ART FAIR India is hosting its first art fair of modern and contemporary art called “India Art Summit”. It will be held from the 22nd to the 24th of August 2008, at Pragati Maidan (ITPO) New Delhi.

More than 30 galleries from India and abroad will show works in an area of 1400 square metres. The three day event is expected to attract thousands of people.

Anjolie Ela Menon, one of India’s most outstanding contemporary artists and one of the patrons of the India Art Summit along with artists SH Raza and Krishen Khanna and art critic Keshav Malik, sees this fair as a gateway to the future of modern and contemporary art reports the magazine Asian Art News.

“It’s high time that India offered and art fair to the world” says Renu Modi of Gallery Espace.

Established artists on show will include MF Husain, Vaikuntham, Sohan Qadri, FN Souza, Atul Dodiya and Riyas Komu.

Younger artists such as Babu Xavier, Thukral and Tagra, Birendra Pani, Mekhala Bahl, Rooshika Patel, Sara, Tanmoy Samanta, Apurva Desai, CF John, Debraj Goswami, Pratul Dash, Murali Cheeroth, TM Azis, Raqs Media Collective will attract younger collectors.

Murali Cheeroth

Murali Cheeroth

Sculptors include Nagji Patel, Saroj Kumar Singh and Arzan Khambatta.

The timing is right says Asian Art News: Indian art’s bouyant annual growth rate is estimated to be 30 to 35%.

There will be networking opportunities at the concurrent Art Forum with speakers such as Rajeev Lochan, director National Gallery of Modern Art, art critics Geeta Kapur and Gayatri Sinha, Robert Storr dean Yale School of Art and Hugo Weihe Christie’s head of Asian Art.

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Emerging Pakistani artists getting noticed in India and abroad

Posted by artradar on July 11, 2008

CONTEMPORARY ART PAKISTAN  Rashid Rana occupies a unique position among Pakistan’s contemporary artists and has been a hit internationally. Rashid Rana is a star, whether it’s in Lahore, Mumbai or Hong Kong. The Pakistani artist wowed the crowds who flocked to his Mumbai show in November 2007. And he received an equally rapturous response last month at HK 08, the inaugural Hong Kong Art Fair.

The overwhelming response to Rana’s eye-catching work didn’t come as the slightest surprise to two Mumbai art galleries. Chatterjee & Lal and Chemould Prescott Road jointly organised the show of Rana’s digital photo-montages at HK 08 and they were absolutely certain that it would receive critical acclaim. “It was all sold out,” says Mortimer Chatterjee, partner, Chatterjee & Lal.

 

Artist names attracting attention

Rana occupies a unique position among contemporary Pakistani artists and he has made a huge name for himself internationally. But he isn’t the only artist from across the border who’s attracting the attention of connoisseurs in India. In the last two months, three shows by Pakistani artists like Bani Abidi, Ali Kazim and Muhmmad Zeeshan have been held across Bangalore, Delhi and Mumbai. And many more are planned in the coming 12 months.

 

Collector Anupam Poddar buying Pakistani art with plans for show

Or take a look at art collector Anupam Poddar, who has built a sizeable collection of contemporary Pakistani art. His Devi Art Foundation is doing the groundwork for a show in March 2009, which will be curated by Rana.

 

Indian interest in Pakistani art

“Interest in Pakistani art is increasing in India,” says Peter Nagy of Delhi’s Nature Morte, who held the first solo show of Rana’s work in India and then helped take his work overseas.So, is Pakistani art the next Big Thing in India? Many art experts believe the interest in Pakistani art is only natural. Says Chatterjee: “There are so many lines of inter-connection between the concerns of Pakistani artists and the lives of normal Indians that often the subject matter is entirely relevant to an Indian audience.”There’s also, as Rana says, “a kind of mutual obsession on both sides of the border, fostered by shared histories, the trauma of Partition and the years of hostility and inaccessibility.”

 

Pakistani art more visible in auctions and fairs

Certainly Pakistani art, like Indian art, is suddenly becoming more visible at international art fairs and auctions. For instance, works by Talha Rathore and Nusra Ali Qureishi sold at auctions held by Christie’s and Saffronart recently.

 

Bani Abidi – female video artist

For Bangalore-based GALLERYSKE’s founder, Sunitha Kumar Emmart who had been following Pakistani video artist Bani Abidi’s work, then, art fairs provided an opportunity to view the work of the Pakistani artist at first-hand. That led to a show by Abidi recently. “Regardless of nationality or gender, we have been interested in Bani’s work primarily for the strength of her practice and the clarity of her artistic vocabulary,” says Emmart. Abidi’s themes went down well with Bangalore art lovers. In the video piece, Reserved, she shows a city coming to a halt for a political bigwig. It has images of schoolchildren waiting to wave crumpled paper flags at a motorcade that never arrives – it was a theme, obviously, that Indian viewers could relate to.

“I’m interested in talking about a more complex identity formation along linguistic and cultural lines, rather than religious ones,” says Abidi, who was surprised by the response to her show. “This is the first time I’ve had a solo show in India. So, it was a first for me that this kind of attention was given to my work here and I value that,” she adds.

 

Ali Kazim – watercolours

Meanwhile, Ali Kazim’s mastery over watercolours drew a huge response at Delhi’s Gallery Espace. The show was held in collaboration with Green Cardamom, a UK-based institution that promotes South Asian artists.

 

Mohammad Zeeshan – contemporary miniatures

And in Mumbai, art lovers got to see Muhammad Zeeshan’s contemporary miniatures in his show, What Lies Beneath, organised by Delhi’s Anant Art Gallery.

“There’s a certain understanding regarding art that I find in Indians. And it feels good to be a foreigner only 40 minutes across the border and be identified with my imagery as an international artist,” says Zeeshan, who has shown in Delhi, Agra and Calcutta since 2005. Miniature artist Muhammad Zeeshan wants his images to tease the imagination as in Let’s Make A Great Pattern I and Untitled II.

 

2005 show in Mumbai was turning point

Pakistani artists are addressing issues like gender, politics and ethnicity in a language that’s contemporary and international, says art critic Quddus Mirza.

India’s interest in Pakistani art has been building gradually. The canvas was prepared by curators like Pooja Sood in India and Salima Hashmi in Pakistan, and institutions like Khoj International Artists’ Association and VASL Artists Residency in Delhi and Karachi, respectively. Khoj and VASL have held artists’ residencies since the late 1980s. Early shows like “Mappings: Shared Histories” curated by Sood too helped.

But till 2004, when Nature Morte held Rana’s first show here, public interest was low. Recalls Nagy: “There was good response from the art community but not from collectors.” That has changed now. One catalyst was the large show, Beyond Borders: Art from Pakistan, at Mumbai’s National Gallery of Modern Art (NGMA) in 2005. It was co-curated by Pakistani artist and art critic Quddus Mirza and NGMA’s then director Saryu Doshi.

“I didn’t realise it would create such a stir. It was the first time that we were recognised as contemporary to India in art,” says Mirza.

 

Pakistan’s art described as contemporary, international, cutting-edge

Since then, the momentum has picked up, spurred by galleries and artists. Says Muhammad Umer Butt, artist and creative director, Grey Noise, a new virtual art gallery based in Pakistan: “Rashid [Rana] has played an instrumental role in introducing us Pakistanis to India.”

Mirza believes that apart from the “newness” factor, the similarities and differences between the two nations have attracted Indians. Shows like Beyond Borders also revealed that Pakistani artists aren’t “making Islamic calligraphy or veiled women”. “We’re painting nudes, addressing issues of gender, politics and ethnicity in a language that is contemporary and international. So perhaps that shattering of pre-conceived ideas was one source for the Indian attraction,” he says.

But it isn’t just cultural affinity that’s attracting Indian art lovers to the work from across the border. The fact is that cutting-edge work is coming out of Pakistan. Says Saffronart co-director Dinesh Vazirani: “Wherever collectors are looking at art from outside, they’re looking for innovation.” Hammad Nasar, co-founder, Green Cardamom, believes this is partly because, “for most of its 60-year existence, Pakistan has remained a cauldron of political and social upheaval.” He adds: “This has proved to be a fertile ground for artists to mine.”

Two broad categories: new media and contemporary miniatures

Certainly, it has thrown up a diverse palette. The Pakistani art scene can be broadly divided into two: there are artists working in new media, and there are those that have given a contemporary twist to the miniature tradition.

Indians, says gallerists, are interested in both types of works. The big draw, of course, is Rana with his multi-layered images and messages. Take his Red Carpetphoto-montage series – Red Carpet-1 incidentally sold for a record $623,400 at Sotheby’s recent Spring Sale of Contemporary Art. At first glance, the work appears to be a large Persian carpet. But when you look closer, there’s a series of tiny photographs of scenes from a slaughterhouse. The work reflects, in a sense, Rana’s formal and conceptual concerns. He says in his artist’s statement, “In today’s environment of uncertainty, we cannot have the privilege of a single world-view. Every image or idea already contains its opposite within itself.”

 

Other artists names

Other contemporary Pakistani artists are also being noticed around the world. There are prominent names like Naiza Khan, sculptor-photographer Huma Mulji, Hamra Abbas, Faiza Butt, Mohammad Ali Talpur, and sculptor Khalil Chishtee, whose recent work includes sculptures with garbage bags. Mulji’s Arabian Delight, for instance, was reportedly picked up by British collector Charles Saatchi for $8,000 at the recent Dubai Art Fair.

At a different level, there are the neo-miniaturists – Indian collectors who are familiar with miniatures are quite enthusiastic about this type of work. Miniature art is a strong discipline at Lahore’s National College of Art (NCA), and it has turned out stars like Zahoor-ul-Akhlaq and Shahzia Sikander, who made a name for herself internationally in the ’90s.Now there are newer miniaturists like Imran Qureshi, Aisha Khalid, Nusra Latif Qureshi, Hasnat Mehmood, Talha Rathore and Zeeshan. “These artists have taken the South Asian tradition of miniature to new heights, and then moved beyond the page to invent a new visual language, rooted in tradition but of the here and now,” says Nasar.

Take Zeeshan, who began painting porn cinema posters before studying miniature work at NCA, and who combines the beauty of miniature with edgier themes of gender, dominance and violence. Zeeshan says he enjoys “teasing” the viewer. “And I think my images tease a lot. The oddity of the composition leads the viewer to dialogue and maybe, just for a second, ask, ‘What is this?” he says.

 

Pakistan’s art educational system strong…

Pakistan’s rich artistic output owes largely to its strong art educational system, especially since, unlike India, most practicing artists there also teach. “This has honed the critical edge of art here,” adds Rana.

 

But market infrastructure underdeveloped

For Pakistani artists too, India is an attractive destination, especially since the gallery infrastructure in Pakistan is still very underdeveloped. Grey Noise’s Butt says, apart from a few spaces like Rohtas 2 in Lahore: “We have showrooms but not galleries unfortunately.” Abidi too says, “The art market (in Pakistan) is almost non-existent and the small one that does exist is very conservative.” That’s why Butt felt compelled to found Grey Noise. “We’re the first virtual gallery to represent cutting-edge artists based in Pakistan,” he says.

 

International buyers showing interest

Already, Butt is “overwhelmed” by the response from India on his site. “I get a decent amount of taps from around the world and India takes the lead,” he says. Artists like Ayaz Jokhio, Mehreen Murtaza, Fahd Burki and Amna Hashmi are getting the most queries.

Even Indians living abroad are showing an interest in Pakistani art, according to Prajit Dutta, partner, Aicon Gallery, which is present in New York, Palo Alto and London. Last year, Aicon held two shows with Pakistani artists in London and New York. This year, it has done solos with Zeeshan and Talha Rathore in New York. Coming up in July is a show with installation and video artists Adeela Suleman, Jokhio and Fareeda Batool. And there’s a possible Naiza Khan show in New York next year. Dutta is also planning to show these artists in India. “We’ve got a great response from Western and Indian collectors,” he says.

 

Pakistani art attractive proposition

The boom in the international art market and growing interest in South Asia have made Pakistani art an attractive proposition, feels Rana, especially since art from South Asia is expected to emulate the global success of Chinese art. “Pakistani art benefits from a kind of trickle-down effect from this tremendous energy in the Indian art market,” he says.

 

Shows planned

The Pakistanis are obviously eager to make their mark in the booming Indian art mart. Green Cardamom, for instance, is planning two exhibitions in India next year, one by the acclaimed Hamra Abbas, who works in everything from video to animation, miniature painting and sculpture. In her Lessons on Love series, she transposed the romantic figures of Indian miniatures into sculpture. Says Green Cardamom’s Nasar: “India is a place where almost all our artists are keen to show. So we’ll figure out ways to do this to their best advantage.”

Nature Morte too will host a solo with Abbas in 2009 in Delhi and Calcutta. Besides, Abbas and Rana are part of a large canvas project Nagy’s working on with auction house Phillips de Pury in London in November, which will then travel to New York in January.

Meanwhile, GALLERYSKE’s Emmart too plans to mount curated shows by Indian and Pakistani artists. Even Vazirani intends to increase the Pakistan section of Saffronart’s auctions. And he will hold a two-city show with Pakistani artists in Mumbai and New York in 2009.

 

Prices still low

To be sure, prices are one reason why Pakistani art is suddenly becoming popular here. As Indian art prices soar, there are better bargains to be had across the border. One art critic says that emerging artists from Pakistan offer “much better value than most Indian art now”. Vazirani too says: “There are opportunities to discover new artists.”

According to one gallerist, high-quality miniatures from Pakistan are typically priced between $10,000 and $20,000 though the masters are more expensive.Autumn II, a miniature by Zahoor-Ul-Akhlaq, for instance, sold at Christie’s’ auction of South Asian Modern and Contemporary Art this month for over $39,000.

The artists, though, are sceptical of the commercialisation in the Indian art market. “What we have now is everyone trying to cash in, exploit the artist, and in some cases, the artist exploiting the buyer,” says Abidi.

Yet the artistic exchange seems set to continue – barring the arbitrariness of officialdom. And as Chatterjee says: “This is just the beginning.”

Image details: Rashid Rana

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Fresh evidence contemporary art price rise is structural says FT

Posted by artradar on July 8, 2008

 

 

 

 

 

 

Source: Financial Times

MARKET NEW BUYERS MORE BUYERS The huge wealth from oil and mining in the Middle East and Russia is flowing into fine art, with a rush of new buyers entering a market that was already booming. 

The arrival of Russian, Middle Eastern and emerging market collectors has given fresh evidence to those who believe that the powerful rise in the price of artworks is structural rather than cyclical – reflecting a long-term shift to a truly global market supported by growing numbers of millionaires and billionaires.

 

Last high 1990 surpassed in 2007

Last year, the art market – as measured by proceeds for the top 100 artists sold at auction – in nominal terms surpassed the previous high set in 1990, according to data from Art Market Report. After a decade in the doldrums the market recovered sharply in 2003-04 and has been on the upswing ever since. The rise in the contemporary market has been especially strong, with prices up by 300 per cent in the past three years, according to Art Market Report’s Contemporary Art 100 index.

 

Doomsayers wrong so far

Doom sayers have been predicting a fall in art prices for the past two years. The high level of nervousness about the market was revealed last November, when shares in Sotheby’s plummeted 28 per cent in a day. The reason? The auction house had failed to sell a work by Van Gogh at its sale the night before. The share price has not recovered.

Many respected dealers and collectors believe the market has reached its peak. Eli Broad, the Los Angeles-based billionaire collector, has said several times that he does not believe prices will continue to rise.

One bearish New York-based dealer says: “Mark my words, the Russians will turn out to be the Japanese of the early 21st century.” During the last art market peak, Japanese property developers were famously among the biggest buyers, snapping up Impressionist works – they were especially fond of Van Gogh – only to offload them at much lower prices just a few years later when the Tokyo asset bubble burst.

 

Customer base from more countries now

The underlying support for today’s art market does appear to be much more broadly based. 

Sotheby’s points out that five years ago, its buyers who spent more than $500,000 on an artwork came from 26 countries. Today, buyers spending that level or more come from 58 countries. Last year, 21 per cent of buyers at its sales were new, the auction house says. Since few buy at auction only once, that means an influx of customers. Helena Newman, vice-chair of Impressionist and Modern art at Sotheby’s, says: “The whole make-up of buyers has changed beyond recognition from 10 years ago. Now we have a far bigger global reach. We are also seeing far greater demand for the very best works. Our big challenge remains the sourcing of works.”

Simon de Pury, who heads the Phillips de Pury auction house, echoes that trend, saying: “Five years ago, the market was concentrated in western European and American collectors, a small group of art cognoscenti. The Contemporary market was dominated by three countries – the US, the UK and Germany. Now we can see the change just in our website: the hits are coming from Brazil, Turkey, China, India, Indonesia, Korea.”

 

Change accelerated 2 years ago

Mr de Pury says the change accelerated two years ago. He predicts that Contemporary art will continue to grow in buyer popularity, in part because the sheer number of buyers means that demand for works from previous eras cannot be met. “It is a question of availability. If you have unlimited money, you can no longer buy the best Old Masters collection in the world. But you can buy the best collection of living artists. For that reason Contemporary art will be the most significant market for the next 20 years.”

 

New museums adding to demand

He adds: “In China, every new [top-end] real estate complex being built has an art museum. All these spaces need to be filled and that will keep demand high.”

Most Middle Eastern nations are likewise building art museums, with both a Guggenheim and a Louvre destined for Abu Dhabi, for example. These museums will start accumulating works to fill their vast spaces later this year. In the US, the home of most of the world’s billionaires, there is a growing trend for rich art-lovers to build their own museums rather than donate works to existing museums as used to be the practice.

 

More millionaires 

There are far more rich people in the world and they are simply far more likely to buy artworks. The number of millionaires in Brazil, Russia, India and China grew by 19 per cent last year, according to the World Wealth Report, released this week by Merrill Lynch and Capgemini. The top 10 collectors in the world now include Victor Pinchuk, a Ukrainian steel billionaire, Carlos Slim, the Mexican telecommunications tycoon, and Qatar’s Sheik al-Thani, according to ARTnews magazine, which this week released its annual list of big spenders.

Art is also seen as a socially desirable channel for the wealth resulting from the 20-year growth in financial services. US hedge fund managers such as Steve Cohen have emerged as big Contemporary collectors. Ben Crawford, the chief marketing officer of MutualArt.com, says: “It starts with the wealthy and then there is a trickle-down effect. Look at the beginning of the century – who bought designer clothes? Tiny numbers of high-society people – but once they became available to more and more people, the buyers didn’t go back. The art buyers won’t go back to putting Star Wars posters on their walls.”

Image details: Eli Broad, art collector

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