Art Radar Asia

Contemporary art trends and news from Asia and beyond

  • Photobucket
  • About Art Radar Asia

    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.
  • Advertisements

Posts Tagged ‘art sales’

Fad or innovation? First ever entirely online art fair to launch next year

Posted by artradar on September 1, 2010


ART EVENTS PROMOTING CONTEMPORARY ART ART SALES ART FAIRS ONLINE

Art Radar Asia was recently sent information on an event new to the art promotion circuit – VIP Art Fair is the first fair to be run entirely online. The event will launch on 22 January, 2011 and was founded by experienced art professionals James and Jane Cohan from James Cohan Gallery and Silicon Valley-trained technology and marketing specialists Jonas and Alessandra Almgren.

The fair will be free of charge and 45 international galleries have already signed up. Standout features include a VIP Lounge where special films of private collections and artist studios will be available to view, interaction between buyers and dealers through Skype and instant messaging, and a function which will allow fair attendees to take tours of the virtual gallery including the ability to zoom in on artwork detail.

A snapshot of the VIP Art Fair Gallery. Image courtesy of VIP Art Fair.

A snapshot of a VIP Art Fair gallery page. Image courtesy of VIP Art Fair.

Read the press release:

HONG KONG, August 19, 2010 – VIP Art Fair, the first art fair to mobilize the collective force of the world’s leading contemporary art galleries with the unlimited reach of the Internet, announces its inaugural fair taking place exclusively online for one week only, January 22-30, 2011, at www.vipartfair.com.

An unprecedented event, VIP Art Fair gives contemporary art collectors access to artworks by critically acclaimed artists and the ability to connect one-on-one with internationally renowned dealers—from anywhere in the world and without leaving home.

“For anyone passionate about art, the Fair is a transformative experience: it delivers all the excitement of world-class art fairs with the convenience and personalization of the Internet,” said James Cohan, co-founder of VIP Art Fair in collaboration with Jane Cohan, Jonas Almgren and Alessandra Almgren. “We’ve invited the most prestigious international galleries, both established and emerging, to come together for an online event, creating a virtual community that will allow collectors, curators and the public to access distinguished galleries and learn about their artists, all with unparalleled ease and absolute discretion.”

VIP Art Fair Founding Galleries David Zwirner (New York), Galerie Max Hetzler (Berlin), White Cube (London), Gagosian Gallery (New York, London, Beverly Hills, Rome, and Athens), Gallery Koyanagi (Tokyo), Hauser & Wirth (Zürich, London, and New York), Anna Schwartz Gallery (Melbourne and Sydney), Xavier Hufkens (Brussels), Fraenkel Gallery (San Francisco), Kukje Gallery (Seoul), Sadie Coles HQ (London), and James Cohan Gallery (New York and Shanghai) will be joined by other international contemporary galleries. A partial gallery list is now available online. A complete list will be made public this fall.

VIP Art Fair Features

The revolutionary design of VIP Art Fair allows art collectors the opportunity to view artwork online as never before. VIP Art Fair’s innovative technology presents artworks in relation to other works of art and in relative scale to the human figure. Inquisitive visitors can zoom in to examine details of a painting’s surface, get multiple views of a three-dimensional work, and watch videos of a multimedia piece. Galleries will provide comprehensive details on artworks and artists, including biographies, catalogue essays, artist films and interviews, and in-depth information that will empower collectors.

One of the many distinct features of the Fair is the interactivity between dealer and collector. Each dealer has the ability to hold conversations with collectors via instant messaging, Skype, and telephone to discuss works on offer in the virtual booth. Dealers can also provide access to their gallery’s back room inventory, sharing works in real time with clients in specially-created Private Rooms on the client’s own computer screen.

There are many ways to explore the Fair, including online tours which are core to the VIP Art Fair experience. Visitors to the Fair can choose from a wide selection of tours—whether of featured works or a tour created by collectors, critics, and curators from participating museums. Visitors also can design their own personalized tours of the Fair that showcase their favorite works and can be shared with friends or posted in the VIP Lounge. Other ways to navigate the site include the Fair Map and advanced searches based on criteria of interest, such as artist’s name, medium, or price range.

The VIP Lounge is where visitors can watch specially commissioned films of leading private art collections and artists’ studios, check out Fair tours created by other visitors, access status updates on art market news, and learn about new works on view in the Fair.

Accessing VIP Art Fair

The Fair will open on Saturday, January 22, 2011 at 8:00 a.m. EST and conclude on Sunday, January 30, 2011, at 7:59 a.m. EST. Browsing the Fair is free of charge. To access interactive capabilities, visitors must have a VIP Ticket, which on January 22 and 23 will cost $100 and thereafter will cost $20. Visitors are encouraged to register in advance.

Editors’ Note

It seems the international art community is divided in its opinions regarding the success of online sales of artworks.

Pearl Lam, Director of Contrasts Gallery, speaking at the 2010 Art Taipei Forum, stated that,

“We have been selling paintings [through the Internet], that was in the good season, but at the present moment all the collectors … want to see the paintings…. Today, there are still collectors who are buying [through the Internet] but it’s less than what we used to have. We used to have ninety percent of them, … all [through the Internet] and they were not cheap … paintings. We still [sell through the Internet] but reduced and also depending on the price of the painting.”

However, Saffronart, a constant pioneer of new technologies in the art auction arena, recently introduced a mobile phone bidding application to it’s seasonal auctions.

With increasingly more mobile ways to access the Internet and new features which allow users to better explore and interact with virtual space, such as those that will be presented at VIP Art Fair, it’s hard to tell if this is a fad or the first successful move into better utilising this new sales territory.

What do you, our readers, think?

KN

Related Topics: promoting art, art collectors, art fairs, art and the Internet

Related Posts:

Subscribe to Art Radar Asia for more on the ways the art industry is using new technology

Advertisements

Posted in Art and internet, Business of art, Collectors, Events, Fairs, Promoting art, Trends | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

ART HK 10 reports strong sales figures, lists major artworks sold

Posted by artradar on June 16, 2010


ART HK ART FAIR SALES ARTWORKS LISTED

Strong sales figures have been reported since the third Hong Kong art fair drew to a close in late May this year. Million dollar sales of artwork by Zhang Xiaogang and Damien Hirst, plus high-priced sales of works by Anish Kapoor and Yoshitomo Nara, suggest the event is now able to comfortably position itself as one of the world’s top art fairs.

“It’s our second time at the Fair and sales this year are up 100%. We sold to collectors from Japan, Taiwan and Beijing. I think the fair has increasing energy in the way Miami Art Basel had when it launched,” Johann Nowak, Director, DNA, Berlin.

A post-event press release from ART HK 10 listed six major transactions made at the event:

The Inescapable Truth (2005) by Damien Hirst, sold by White Cube for £1.75 million.

The Inescapable Truth by Damien Hirst (2005) is the first formaldehyde work by the artist to be shown in China.

The Inescapable Truth (2005) by Damien Hirst is the first formaldehyde work by the artist to be shown in China.

Green Wall – Husband and Wife (2010) by Zhang Xiaogang, sold by Pace Beijing for US$1 million.

Zhang Xiaogang's Green Wall - Husband and Wife (2010)

Zhang Xiaogang's Green Wall - Husband and Wife (2010)

More Light (1988) by Sean Scully, sold by Galerie Lelong for US$750,000.

Untitled (2010) by Anish Kapoor, sold by Lisson Gallery for £550,000.

Composition with Bamboo and Grass (2007-08) by Liu Ye, sold by Sperone Westwater for US$650,000.

Liu Ye's Composition with Bamboo and Grass (2007-8)

Liu Ye's Composition with Bamboo and Grass (2007-8)

Rock’n Roll the Roll (2009) by Yoshitomo Nara, sold by Marianne Boesky Gallery for US$350,000.

Yoshitomo Nara's Rock'n Roll The Roll (2009)

Gallerists and dealers had a mostly positive response to this year’s fair and what they had to say seems to mirror the high sales figures reported.

“The response to our solo exhibition by Liu Ye exceeded my expectations. Sales were made to new collectors from Hong Kong, China, Indonesia, and Singapore and to a prominent New York collector. There is so much positive energy here. We look forward to returning next year,” David Leiber, Director and Partner, Sperone Westwater, New York.

“We’ve met some very interesting collectors from other countries in Asia. The level of sophistication and interest in Western art is rising exponentially in Asia,” Ben Brown, Ben Brown Fine Arts, Hong Kong and London.

Art Radar Asia was determined to hunt down first-hand perspectives of galleries in attendance this year and spoke with 19 during ART HK 10. Reactions to the fair were as varied as the galleries we spoke with. Read what they had to say here.

CBKM/KN

Related Topics: events – fairs, market watch, venues – Hong Kong

Related Posts:

Subscribe to Art Radar Asia for more reports on Asian art fairs and events

Posted in Business of art, China, Collectors, Events, Fairs, Hong Kong, Lists, Market watch, Venues | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment »

Rising confidence in Indian art as market recovers

Posted by artradar on June 9, 2010


INDIAN ART MARKET CONFIDENCE

Francis Newton Souza's Imbecile Girl in a Green Blouse (1957) will be on sale in Saffronart's summer auction 2010. Its estimated price is USD275,000-350,000.

A recent article published on livemint.com by the Wall Street Journal reported a rising trend of speculators’ confidence in the Indian art market, possibly as a result of a rebound in valuations of Indian artworks.

The article used the data in the latest report by London-based art market research firm ArtTactic to show that speculators’ confidence in the Indian art market is on the rise, after its significant drop in May last year as a result of the global art market downturn.

“The ArtTactic Speculation Barometer for Modern Indian Art shows a 28% increase since October 2009, and is now at 6.3, up from 4.9. This is the highest reading since ArtTactic started its survey in May 2007,” the article reported.

“In my reading of the Indian context, most collectors who entered the market over the last five-seven years were keen speculators.” Arvind Vijaymohan, Head of Indian arts advisory Japa Arts Pvt. Ltd (as quoted on livemint.com)

“…Vijaymohan says that in the current situation, there exists a section of speculators who consider this the perfect time to enter the market, and acquire works of modern Indian art at low values.” http://www.livemint.com

“For Anders Petterson, managing director of ArtTactic, the most revealing aspect of the report is the speed of the recovery in the modern art market even though it raises the threat of speculative buying.” http://www.livemint.com

The article reported that “the combined auction sales for Indian art in March 2010 raised a total of $15.2 million (Rs69.3 crore)”.

The article also noted the widening gap in confidence between the modern and contemporary Indian art market.

“The Modern Indian Confidence Indicator is 51% higher than the equivalent confidence indicator for contemporary art. The report reasons that the established nature of the modern Indian market has created a sense of “safe haven” for many art buyers, a fact that is leading to its expansion.” http://www.livemint.com

Read the full article here.

CBKM/KN

Related Topics: Indian artists, collectors, business of art, market watch

Related Posts:

Subscribe to Art Radar Asia for more reports on the Indian art market

Bookmark and Share

Posted in Artist Nationality, Business of art, Classic/Contemporary, Collectors, India, Indian, Market watch, Research, Surveys, Trends, Venues | Tagged: , , , , , , , , , , , , , , , , , , , | Leave a Comment »

Is globalisation of the art market slowing down? The Economist reports

Posted by artradar on June 9, 2010


GLOBALISATION CHRISTIE’S ART AUCTIONS

Globalisation in the art market may be slowing down according to an article published recently in The Economist. In spite of the growing numbers of artists and buyers from locales ranging from Africa to Asia, May sales in New York were dominated by American artists.

The article states:

“At the Christie’s sale, the first of the two main evening auctions, three-quarters of the buyers were American”.

With the prices of work by top Asian artists still lagging behind big-name American contemporaries, it may not come as a surprise that Asian artists are sometimes underrepresented in main and evening sales abroad. That is not to say that Asian artists do not fair well in Asian markets. In Artprice’s Top 100 Hammer Price List, only seven Asian artists crack the top 50. Not surprisingly, all were Chinese artists with sales in Beijing or Hong Kong. Numbers such as these suggest that there is still some preference for homegrown artists.

The Beijing sale of Chen Yifei's 'Thinking of History at My Space', 1979 landed him at #69 on Artprice's Hammer Price List

The Beijing sale of Chen Yifei's 'Thinking of History at My Space', 1979 landed him at #69 on Artprice's Hammer Price List

Even so, the unusual dominance of American artists at Christie’s New York sales this past spring did not go unnoticed.

“This is the most significant post-war and contemporary art collection ever sold at auction,” Christie’s Amy Cappellazzo said afterwards. “It was a quintessential American sale.”

We at Art Radar Asia wonder if this is really so surprising? There are few Post War Asian artists represented in these sales because Asian artists have only received attention in the last twenty years. For contemporary artists it is a different matter. While there is no doubt that some Asian artists, and those from other emerging countries, are now well known, their prices still lag behind those of top contemporary American artists. And, of course, main sales, and evening sales in particular, feature only the very best, usually most expensive, works.

Read the full article here.

EH/KN

Related Topics: business of art, collectors, market watch – auctions, market watch – globalisation

Related Posts:

Subscribe to Art Radar Asia for more on the Asian art market

Bookmark and Share

Posted in American, Artist Nationality, Asian, Auctions, Business of art, Collectors, Globalisation, Market watch | Tagged: , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

Killer art selling tips: viral video

Posted by artradar on April 21, 2010


SALES ART BUSINESS PROMOTION ARTIST

Do you need some new ideas for promoting your art, your event or your artists? Read on for one piece of advice which could make your promotion go viral on social media attracting thousands of new fans.

Did you know that bloggers love to link to video? And did you also know that bloggers in the same niche often read and link to one another? You can harness these habits to spread the word about your art works far and wide.

Most art promoters are doing little to ride the power of video and social media marketing to get their art out there. This is surprising because art is a visual medium and is particularly suited to video promotion. Text and static images on press releases just aren’t the same.

Imagine! Sculptures can be seen from different angles, kinetic sculptures can be appreciated in motion. Artists can be interviewed helping bring their work to life with personal stories. Techniques can be demonstrated. Small clips of video art can be posted as a teaser or taster. Artists can create a more personal connection with collectors and dealers can build trust with video.

News sources like CNN produce the most widely-viewed videos about shows and artists because of their superior page ranking.  Some museums are making great strides in producing video as a documentary source and for promotional purposes (take a look at the Asia Society).  As yet there are still surprisingly few galleries, artists and collectors using in these ways.

What is stopping you from making videos? Is it expense, know how, time constraints or something else? Would you like more information about promoting art? Or making art videos? We would love to know. Leave your comments below.

In the meantime if you have made a video, well done you are ahead of many of your competitors but don’t be shy. Post it on youtube (it is more likely to appear on the first page of google there than on your own site) and actively promote it to bloggers and on twitter.

Related posts

Bookmark and Share

KCE

Posted in Uncategorised | Tagged: , , , , , | 2 Comments »

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.

Latest posts on related topics:

Stay up to date, subscribe to Art Radar Asia

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

Art market shifts from New York to London – Artprice

Posted by artradar on August 24, 2008


MARKET WATCH GLOBAL ART SALES

The growing interest shown by emerging markets (China, the United Arab Emirates, India…) and good performances from traditional markets resulted in spectacular figures for the first half of 2008. This has silenced the sceptics who were still expecting economic woes to have a knock-on effect on auctions. The first Half of 2008 at auctions has so far countered gloomy and alarmist prophecies of a recession with sales of EUR 3.8bn (more or less equivalent to the EUR 3.7bn for the same period of 2007) and 504 bids over a million euros compared to 517 as of July 1st 2007. The art market has repeated the record performance reached in 2007 without beating it.

The big surprise comes from the UK which has not only unseated the US at the top of the sales tables but sold fine art worth more than GBP 1.5bn, or GBP 220m more than over the same period in the preceding year. 256 works in London went for more than a million euros, with 2 of the 3 highest global deals in the first half including a Claude Monet sold for EUR 46m and a Francis Bacon that fetched EUR 31m. For the first time in 20 years, the US has lost the first place to the UK.

But although the UK and the US are fighting it out over the top step on the podium, they still share most of the cake with 77% of global sales volume. China and France are far behind in 3rd and 4th position respectively with a combined 11% of global sales.

France, beaten for the first time by China in 2007, is slowing down, a constant decline confirmed by cautious buyers. Despite well-publicised sales in May that showcased major works by Francis Bacon or Louise Bourgeois, France posted a number of no-sales that was a world record: 50% of works on offer failed to sell!

See (in new window)

Subscribe to Art Radar Asia

Posted in Market watch | Tagged: , , , , , , , , | Leave a Comment »