Price or Value
Just a few months ago, the traditional Art magazines looked more like industrial fair catalogues than the selected compilation of articles that launched them and enlarged their circulation years ago. Hundreds of pages of paid advertisement offering all sorts of related services to a very complex industry, are downsized again to its original format. This fascinating corporate model managed, throughout a decade, to drag fortunes into a perfect “elite” marketing package. In the main international Art Fairs, VIP lounges jammed with luxury brand stands, ranging from banking services to fine cigars catered the finest to their high end clientele with the finest. And thus the Art market responded accordingly to buoyant financial profits reaching its record high.
Its unprecedented slide takes similar and immediate proportions .A global market with fast developing emerging markets comes into play with artists emanating from all corners of the world and breaking in with absurd prices ,gaining fame overnight . Through agile marketing strategies, the auction houses created more specialized departments all over the world, India, Russia, Arab Emirates …Thanks to “multi- culturization”, to communications and the multiplicity of fairs and biennales, previously isolated artists, integrate the Art World community creating a rupture of the prevailing euro-american axis for the first time in decades.
It is not the first time that we experience plummeting prices in the art world. But this time, it is significantly greater impact due to stronger speculative trading .Sadly labeled as a “commodity” market it behaves as such. It is quite difficult to maintain continuous gains of 20 and 30% for extended periods of time in any commercial field. However, top quality pieces will remain as quoted and will certainly find immediate buyers even for higher prices.
The spirit of risk and adventure of Leo Castelli, Mary Boone, Ileana Sonnabend , Kurt Valentine, Fernando Vijande, with their daring exhibitions shook the public. Although agile and skillful dealers , these forerunners and absolute innovators marked an era. An endless list of artists paraded through their galleries , showing for the first time: Gilbert and George ,Andy Warhol, Sicilia, Juan Muñoz, Jeff Koons (Made in Heaven 1991), Jasper Johns, Robert Rauschenberg ,still making headlines ,almost 50 years later. A completely opposite cut to Emmanuel Perrotin, Jay Jopling , Larry Gaggosian whose operating form ,although valid, is quite distant to the previous ones. Sensitivity is inherent to art. It is its vital breath in all aspects. I have confidence in the individual and collective creative forces that have been able to revitalize the art scene against all odds in moments of crisis , with breakthrough proposals ,injecting the aspect that we so much desire to encounter.
One should recall the beginning of JeanBasquiat ‘s career or of Fab Freddy ,Henry Chalfant, Keith Harring, Lee Quiñones or the amazing 112 Greene Street Building ,or Soho and the recent Gansevort Market (Meat packing district) with its “shy” first steps developing now into an icon in the art world.
For decades, through experimental and alternative spaces in cities and rural areas, flocks of graduate students of Art Schools and Academies using high tech or established techniques , break through reshaping the visual culture .The immovable and prevailing fact is the vitality and talent of each of these artists .it is this innovative strength that marks its real value and will assure continuance.
As for the price of emerging and young established artists, a solid journey of merit will determine its increase.” For the rest and all their “trimmings”, only time will allow us to watch the outcome of all of partakers . I certainly hope that more than one will come out unharmed.
Iris Ramler
Iris Ramler Stein |
