The Fine Art Blog

All Facebook Users Get 15 Minutes of Fame

noreply@blogger.com (Joseph K. Levene) — Mon, 23 Jan 2012 07:31:04 PST

Anyone who has provided a Facebook "like" and/or provided positive comments will appear in a 2012 Facebook ad campaign called Sponsored Stories.

How will specific Sponsored Stories be chosen?

Whether or not you see a specific Sponsored Stories depends on whether or not a friend has connected with a business that would like to promote that Story.

Who coined the expression "15 minutes of fame"?

Andy Warhol; the 15 minutes of fame expression is paraphrased from Andy Warhol's 1968 Moderna Museet, Stockholm Exhibition Catalogue in which Warhol stated In the future, everyone will be world-famous for 15 minutes." In his 1979 Andy Warhol "Exposures" Book, Warhol was so bored by his now famous phrase that he chose to modify it to"In fifteen minutes everybody will be famous."

How Often Will My Ad Run?

Facebook states you will not appear more than once a day, and most likely, you will never appear in a TV Commercial on Network TV.

Who Will See It?

Facebook has written the following to appease users regarding how sponsored stories will be incorporated in the Facebook Newsfeed. According to Facebook "Sponsored Stories are regular News Feed stories that have been promoted to the right column of Facebook, where you may be more likely to discover new things that your friends are interested in. These stories only show up for friends, so you can learn about places to go, apps to use, games to play and organizations your friends like."

How Famous Will I Become?

Probably not much. Your "likes"/endorsements will only appear in the respective Feeds of your Friends that you have designated in your privacy settings. To be clear, no strangers will ever see your ad, assuming none of your "friends" are really "strangers".

Can I Opt Out The Facebook Campaign?

No. Even though Facebook was forced by the FTC to make opt-in the de facto standard for privacy settings, Sponsored Stories inexplicably do not have this option. Removing your smiling face from a Sponsored Story requires manually deleting it by clicking the little X button in the top right-hand corner--the same button you used a couple of weeks ago to hide all stories from Spotify and Zynga products.

Can I Sue Facebook?

You can sue anyone you like if you agree to pay all court costs and legal fees, but whether the court will hear your lawsuit is a "big depend". That said, U.S. District Judge in San Jose ruled that plaintiffs may pursue claims against Facebook for the misappropriation of their likeness in Sponsored Stories.

How Much Will Elizabeth Taylor's Celebrity Add To Her $50 Million Jewelry Collection?

noreply@blogger.com (Joseph K. Levene) — Sat, 12 Nov 2011 13:52:29 PST

"Elizabeth Taylor was the last great movie star, the queen of Hollywood," explained Jonathan Rendell, Deputy Chairman of Christie's Americas., not a so-called star seen on Dancing With The Stars and Celebrity Apprentice.

Married eight times, twice to Richard Burton, Elizabeth Taylor had a legendary six decade career film career, appearing in over 50 films and the recipient of two Oscars. Ms. Taylor was also a pioneer activist in the fight against AIDS, a charity that she continues to support via a substantial pledge from proceeds from her Estate.

Elizabeth Taylor also collected Art, Furniture and Jewels, and after Christie's December 13, 2011 jewelry Auction of over 250 lots, she may become famous for her knowledge rivaled the best jewelers in the world who loved to create jewelry for her. Elizabeth Taylor loved jewelery and amassed an extraordinary collection that Christie's estimates to will fetch over $50 million.

The question is what is the celebrity premium that Elizabeth Taylor's provenance will add to her vast Jewelry Collection.

She loved and collected jewels the way children collect toys. "It would be very glamorous to be reincarnated as a big ring on Elizabeth Taylor's finger," Andy Warhol once mused about the woman who owned the 33-carat Krupp diamond ring — a gift from Burton that she wore daily that is now called the Elizabeth Taylor a diamond ring of 33.19 carats; that was a 1968 Gift from Richard Burton, that Burton purchased for Ms. Taylor at Parke-Bernet Galleries, New York, in May 1968 for $300,000. The Ring is now estimated at $2,500,000 – $3,500,000.

The Elizabeth Taylor Diamond, Estimate: $2,500,000 – $3,500,000
purchased by Richard Burton in 1968 at Sotheby's Parke-Bernet

Van Cleef & Arpels Ruby & Diamond Ring, of 8.24 carats

1968 Christmas Gift of Richard Burton to Ms. Taylor
Estimate: $1,000,000–$1,500,000

Before the December 13, 2011 auction, the Elizabeth Taylor Jewelry Collection will complete a three-month tour around the world, and will be on view to the public in Los Angeles, London, Paris, Geneva, Moscow, Dubai and Hong Kong.

The Mike Todd Diamond Necklace

A Belle Epoque Diamond Necklace, circa 1900

Gift from Mike Todd, 1957; Estimate: $25,000-$35,000

A Diamond, Emerald and Gold “Snake” Bracelet Watch by BVLGARI, circa 1961
Estimate: $12,000-$15,000

A Sapphire and Diamond Sautoir by BVLGARI, 1969.
Gift from Richard Burton for Elizabeth Taylor’s 40th birthday, 1972
Estimate: $600,000 – $800,000

Christie's is creating an event surrounding Ms. Taylor's auction and will charge $30.00 admission to get a peek at her collection of jewelery, art and fashions. In addition Christie's will be selling special commemorative Elizabeth Taylor Collection catalogues that include:

The Jewelry Set: The Legendary Jewels of Elizabeth Taylor

The Fashion Set: The Icon and Her Haute Couture, Evening Sale and Fashion and Accessories

“The Prince of Wales Brooch”, circa 1935
Formerly from the Duchess of Windsor Collection

Purchased by Elizabeth Taylor from Sotheby’s, Geneva, April 1987; Estimate: $400,000 – $600,000

Andy Warhol recognized Elizabeth Taylor's iconic status six decades ago when he created his 1962 painting titled Men in her Life, in which he silkscreened Elizabeth Taylor 38 times with Michael Todd, her third husband, along with Eddie Fisher and Debbie Reynolds.

For the painting, Andy Warhol made his silkscreen from a photograph that was taken in 1957, when both women were pregnant. Less than a year later, Mike Todd was killed in an airplane crash. Taylor also was supposed to fly, but at the last moment refused because of poor health. Some time after the death of Mike Todd, Elizabeth Taylor started a romance with Eddie Fischer, who became her next husband.

Andy Warhol Men In Her Life
Sold for $63.4 Million at Phillips

Andy Warhol's Men in Her Life tribute to Liz Taylor was sold for $63.4 million in October, 2010 at Phillips de Pury, the second highest Warhol price next to Green Car Crash sold in 2007 for $71.7 million.

Are 74 Degas Bronze Sculptures Cast in 1998 from “Recently Discovered” Plasters Worth $37 million?

noreply@blogger.com (Joseph K. Levene) — Tue, 20 Sep 2011 10:15:53 PDT

74 Bronze Sculptures Cast by The Degas Sculpture Project Ltd.

74 Plaster Sculptures purportedly created by Edgar Degas during his lifetime continue to raise Authenticity questions, controversy, scrutiny and two $20 and $37 million Appraisals, even though the Sculptures were only recently cast in 1997 and 98.

Named "The Complete Sculptures of Edgar Degas", 74 bronzes cast from the “recently discovered” plasters were displayed at the Herakleidon Museum in Athens from November 27, 2009 - August 14, 2010; the Museum published a Catalogue about the newly discovered Set of Sculptures.

New Orleans Museum Cancels Exhibition

Because of the controversy, The New Orleans Museum of Art has decided to postpone an exhibition of 74 controversial bronze sculptures cast from “recently discovered” plasters said to have been made by Edgar Degas. The show was scheduled to open at the museum in November 2011. Asked the reason for the postponement, Ms. Taylor said, “The controversy has influenced my decision. I would like to review it more carefully.”

$37 million & $20 Million Appraisals, from Stewart Waltzer & Alex Rosenberg According to an August 2011 Art News Article "Stewart Waltzer appraised the set of 74 bronzes at $37.25 million. The most valuable sculpture in the set, Little Dancer Aged Fourteen, is worth $15 million, Waltzer wrote in his appraisal."

The Stewart Waltzer Appraisal stipulates

“This appraisal is accompanied by various letters and [a]ttestations from Leonardo Benatov, owner of the Valsuani foundry, stating explicitly that the plasters, which serve as the basis for the 74 Edgar Degas bronze sculptures from the 1998 Valsuani Edition marked ‘Set VII/XI,’ are authentic,” Waltzer wrote in his 2010 appraisal. “Therefore, these works have been appraised as authentic works by Edgar Degas. This appraiser and this appraisal [do] not warrant the authenticity of the 74 Edgar Degas bronze sculptures from the 1998 Valsuani Edition marked ‘Set VII/IX."

Only 11 Degas Bronze Sculptures Realized $1 million or more Since 1990

Since 1990, 293 Degas Sculptures have appeared at public auction, and only 11 have fetched over $1 million; 90% have sold under $1 million and only 22 have realized prices of $500-$1 million!

"Stewart Waltzer’s second appraisal was commissioned by Yank Barry, a Canadian businessman who bought a set of 73 Degas sculptures from Maibaum in August 2009 through his Global Village Champions Foundation Inc., and then last year bought a bronze replica of Little Dancer Aged Fourteen."

"Barry stated that at the time he bought the set of 73 bronzes he relied in part on another, earlier Waltzer appraisal, done in 2009, that put the value of the 73 bronzes (without Little Dancer) at around “$22 million.” In June 2006, at the request of Maibaum, Waltzer appraised a set of the 73 bronzes at just above $19 million, while Alex Rosenberg, another appraiser, valued the set at $20.5 million. In 2009, Waltzer appraised the Valsuani version of Little Dancer at $12 million, also at Maibaum’s request."

"When Barry bought the 73 bronzes, he issued a press release saying he had paid “considerably less” than $20 million for the set. In an interview with ARTnews, he said he had paid between “$7 million and $20 million” for them, but he would not reveal how much he had paid for the Little Dancer because, he said, he had signed a confidentiality agreement with Maibaum that prevented him from disclosing the purchase price."

Museum Loan From The Degas Sculpture Project Ltd

The 74 Sculptures were on loan from "The Degas Sculpture Project Ltd., a joint project of Walter Maibaum, president of the New York–based Modernism Fine Arts Inc., and Gregory Hedberg, who has been director of European Art at Hirschl & Adler since 1992.

William D. Cohan, formerly director at JP Morgan Chase, a contributing editor at Fortune and author of House of Cards: A Tale of Hubris and Wretched Excess on Wall Street has written a second authoritative Article about 74 Edgar Degas Plaster casts that were recently discovered outside Paris among the Valsuani Foundry inventory. In April 2010, Mr. Cohan first wrote about the Degas Bronze controversy in Art News; Mr. Cohan wrote an update in the August issue too.

According to Mr. Cohan, legal issues prevent leading Edgar Degas Art Dealers, Curators, Collectors, Art Historians and Auction House experts from issuing an official opinion for fear of a lawsuit.

These issues continue to plague buyers in a hungry market who seem eager to jump at a great deal, without all the facts. According to John Cahill, a partner at the New York law firm Lynn & Cahill, "It's a shame that a scholar is afraid to offer an opinion".

National Gallery of Art Research Adds Further Complications

Adding to the controversy is important research from the National Gallery of Art that draws on both art history and scientific analysis to resolve questions about how Degas made sculpture and what happened to it after his death. This new research will no doubt signal a decline in auction prices fetched for Edgar Degas Bronzes.

Replica of Edgar Degas The Little Dancer Sold for $3,600. At Christie's

Wide Price differences between Edgar Degas replicas & bronze casts by 1922
Replicas of The Little Dancer sell in the thousands while Bronzes cast by 1922 routinely sell in the millions. In August 2011, a replica bronze of The Little Dancer was sold for $3,600; this contrasts with the $10.3 million realized at Christie's in 2003 for a Bronze version of the Little Dancer with extensive provenance cast in Bronze by 1922.

Edgar Degas Petite Danseuse de Quatorze Ans Sold for $10.3 million at Christie's

46 $2 million Petite Danseuse de Quatorze Ans Bronze Casts Created 1997 & 1998

According to William D. Cohan,"from this supposed “lifetime plaster,” as it is often called, the Valsuani Foundry cast 46 bronze statues of the Little Dancer Aged 14 in 1997 and1998. Most, if not all of the bronzes, are believed to have been sold by the foundry for about $2 million each.

Petite Danseuse de Quatorze Ans, one of 46 casts in 1997/98, The Degas Sculpture Project Ltd.

All Edgar Degas Bronze Casts Are Posthumous

Edgar Degas did not create any lifetime Bronze casts, yet Walter Maibaum and Gregory Hedberg claim "all the bronze sculptures shown at the Herakleidon Museum were cast from recently discovered plasters made from Degas’ original waxes during his lifetime and with his consent".

The Herakleidon Museum unequivocally states 74 Bronzes Cast with Degas' Consent “All the bronze sculptures in this exhibition were cast from recently discovered plasters made from Degas’ original waxes during his lifetime and with his consent,” it says. “This is remarkable since all the other bronzes one can currently see in museums and elsewhere were cast from masters made after the artist’s death. Therefore, the bronzes in this exhibition can be considered the original versions, and all the others the second versions of these sculptures. Thus, for the first time, it will be possible for experts, scholars and the general public to compare the artist’s bronzes in the before and after states, which is almost unparalleled in the history of art.”

From Musee d'Orsey Website When Degas died in 1917, 150 wax or clay sculptures were found in his studio. These statues had remained more or less unknown to the public while the artist was alive, except for Dancer Aged 14which Degas had shown in the Impressionist exhibition in 1881. Naturally coloured, fitted with real hair, dressed in a tutu and real dancing slippers, it was an example of hyperrealism, verism taken to the extreme. Presented in a showcase like a specimen in the museum, it revealed a Degas bordering on the anthropologist or a naturalist. The critics were not mistaken: the work was violently accused of representing the girl in a bestial manner; she was compared to a monkey or an Aztec; she had a face "on which all the vices imprint their detestable promises, the mark of a particularly vicious character".

Degas thus took realism to its logical conclusion by depicting the society of his time in a barefaced almost scientific way with no shade of hypocrisy. The bronze edition made after his death, including the copy in the Musée d'Orsay, tried to preserve the characteristics of the wax statue as much as possible. The glass cage is the only element that Degas himself wanted, asserting the Dancer's status.

Edgar Degas Small Dancer Aged 14 Cast between 1921 and 1931, Collection Musee d'Orsay

Research From National Gallery of Art Raises More Questions

Suzanne Glover Lindsay, of the University of Pennsylvania, a specialist in 19th-century European sculpture, presents new information about the posthumous marketing of Degas’s lifetime sculptures. After the artist’s death in 1917, approximately 150 wax and clay sculptures, many damaged beyond repair, were found in his studio.

The National Gallery's wax version of Little Dancer Aged Fourteen, 1879-81,

The Only Sculpture Edgar Degas ever exhibited

Degas’s heirs contracted with the Hébrard foundry in Paris to cast 73 of the sculptures in bronze editions, even though the artist never cast his work in bronze or authorized the casts. When art historian John Rewald published the first catalogue of the bronzes, in 1944, he reported that Degas’s original mixed-media figures had been sacrificed in the lost-wax casting process used to create the bronzes. In 1955, however, 69 of the “lost” originals reappeared and, with the assistance of Rewald and French collector Ludwig Charell, were exhibited in 1955 at the Knoedler Gallery in New York. Collector Paul Mellon purchased the entire group for $400,000, and ultimately donated most of the sculptures to the National Gallery, the museum his father had founded in 1937.

The 1955 “discovery” of the original sculptures A Myth

The lifetime sculptures were offered for sale at Knoedler not by Degas’s heirs, but by members of the Hébrard family, although it is unclear how or when they might have acquired ownership of the works. The 1955 “discovery” of the original sculptures, as Lindsay notes, turns out to be a myth. Letters in the National Gallery archive from London’s Marlborough Gallery testify that the National Gallery was contacted about the sculptures as early as 1953, when Marlborough offered to put the gallery’s chief curator (later director), John Walker, in touch with an attorney representing an unnamed benefactor “interested in donating a set of wax models by Degas to the National Gallery of Art.

Degas Sculptures Rarely Mentioned/Noted by Degas in His Notebooks

According to his dealer, Joseph Durand-Ruel, Degas created sculptures for more than 40 years. Yet the artist rarely mentioned these works in his notebooks or correspondence, and most of the other relevant documentary sources are posthumous or secondhand. Acknowledging this gap, the National Gallery catalogue compiles a broad new range of physical evidence and cutting-edge technical analysis of Degas’s sculptural production, providing a turning point in our appreciation of this elusive artist.

The Edgar Degas Bronze controversy continues and is bound to affect auction prices of the Artist's Bronzes. Anyone who buys Edgar Degas Sculptures should be especially cautious in light of The National Gallery's remarkable Research.

Shaky Degas Dancer Gets the Silent Treatment: William D. Cohan (businessweek.com)

Degas and the Ballet, Royal Academy, London (independent.co.uk)

Degas and the Ballet: Picturing Movement - New London Exhibition (blogrestandplay.com)

Francesco Clemente Tarot Portraits Are Hauntingly Deft

noreply@blogger.com (Joseph K. Levene) — Sat, 12 Nov 2011 10:24:09 PST

Francesco Clemente as The Fool

Francesco Clemente has created a Tarot Card Series of 78 Watercolor Portraits that demonstrate the Artist's abillity to achieve haunting personnas of each of his subjects. Clemente has deft command of the watercolor medium, so much so, that he is able to transform each of his subjects into icons that leap off the paper. The Suite of 78 Portraits will be in an Exhibition titled Francesco Clemente: The Tarot at the Uffizi Gallery, Florence, Italy from September 9, 2011 to November 6, 2011; the Exhibition is curated by Max Seidel.

Calvin Tomkins has written a Francesco Clemente Profile in The New Yorker Magazine that delves into Francesoco Clemente's interest in Tarot Cards over the past three years and adds perspective about the people he chose for his Tarot Portraits.

Salman Rushdie is the King of Swords, Jasper Johns is The Pope and Clemente himself is The Fool. Kiki Smith is the Queen of Disks; Diane von Furstenberg is the Force and Clemente has created a Self-Portrait of himself as The Fool.

Kiki Smith as Queen of Disks

Tomkins writess: "Clemente, born in Naples but a New York resident, off and on, since 1981, studied reproductions of fifteenth-century tarot decks, and delved into the voluminous literature on the subject. “A friend got me Aleister Crowley’s unpublished notes on the cards,” he said. “I read Italo Calvino’s wonderful text. I had my own cards read, and I read cards for my friends.”

The result of his delving is a series of drawings, one for each of the seventy-eight original tarot cards, but larger (approximately nineteen inches tall by nine and a half inches wide), executed in several different media: watercolor and gouache, ink, pastel, colored pencil."

Salman Rushdie as King of Swords

Fran Lebowitz, as Justice, holding scales in one hand and a sword in the other, regards the viewer with that dour look that sets up the punch line.

Fran Lebowitz as Justice

Jasper Johns, as the Pope, is framed by two diagonal ladders and a double rainbow of red, yellow, and green watercolor. “I’ve always thought of Jasper as a poet,” Clemente said. “Someone who connects this world to the next one.”

He drew the card for the Pope (also known as the Hierophant) before he’d decided whom he would put in that role, but after he thought about it for a while there was no other choice. Clemente planned to put Julian Schnabel in the series but decided not to, because “he is too many cards at once.”

Jasper Johns as The Pope

Brice Marden is the Hanged Man, dangling nonchalantly from a rope around his left foot, against a pink-and-yellow sky. In tarot, he is based on the Norse god Odin, who hung from the World Tree for nine days to gain knowledge of the runes.

Brice Marden as The Hanged Man

Francesco Clemente Tarot portraits are hauntingly deft.
http://t.co/svgzw4x via @thefineartblogWed Aug 31 23:38:07 via Tweet ButtonJKLFA.com
JKLFA

Misleading Documentation at Artnet Auctions

noreply@blogger.com (Joseph K. Levene) — Sun, 06 Nov 2011 20:59:21 PST

The standards for buying Fine Art online should be no different than the standards for buying fine art from bricks and mortar Art Dealers, Galleries and Auction Houses.

It is essential when buying anything on-line, especially fine art, that the sellers description is accurate, without hyperbole and carefully match the actual item purchased and received, especially since the buyer does not inspect the Work of Art.

Careful inspection and objective reporting is vital and requires connoisseurship, especially misleading condition reports and photographs that exaggerate/boost color and/or camouflage flaws is misleading.

A sample of items currently available and recently sold lots at Artnet auctions, contradict an interview with Sergey Skaterschikov, Skate's Art Market Analyst regarding Artnet, "Some of these companies, like Artnet, are very good at managing fraud versus something like eBay"

Perhaps Mr. Skaterschikov should look at the artnet.com auction lots more closely!

Buying any Keith Haring Work of Art without the Keith Haring Studio, LLC Authentication is Risky.

Keith Haring Radiant Baby At Artnet Auctions
Lacking Authentication from Keith Haring Studio, LLC

These days, the Keith Haring Studio, LLC. , is the only authorized and recognized authority to provide Authentication of Artworks purported created by Keith Haring.

Due to the extensive Keith Haring counterfeit activity, the Keith Haring Studio LLC, now requires a physical inspection in addition to receipt of extensive paperwork and photographic documentation before issuing any Authentication.

The Keith Haring Radiant Baby, purportly created in 1982 and offered for sale with an estimate of $10,000-$15,000., has not been Authenticated by the Keith Haring Studio, LLC yet artnet offered it for sale, with a very limited artnet.com return policy.

What is the detailed Provenance of the Radiant Baby?

While the seller description states the Lot was once owned by the late Jan Eric Lowenadler, who committed suicide in 2010, there is no material support for Mr. Lowenadler's provenance, nor is any other provenance for this Work mentioned.

Since the Keith Haring Studio, LLC Authentication Committee only meets four times a year, it is irresponsible to sell any Keith Haring without prior Authentication from the Keith Haring Studio, LLC, given Artnet's 30 day Buyer Protection policy which states:

In order to receive a refund, the Buyer must notify the Seller of his intention to return the item as “not as described” within seven (7) days of receipt. Additionally, the Buyer must notify the Seller within thirty (30) days if the item has been found inauthentic. Right of return applies only to the original purchaser, and is non-transferable.

A Shirt that is Signed With the Calder Monogram in Red is NOT a unique Alexander Calder Artwork.

Shirt with the Initials "CA" In Red Not Unique

The lot erroneously states that the shirt is "UNIQUE", detailed as a "Painting, Mixed Media".

Is the shirt registered in the Archives of the Calder Foundation, New York with an application number? If the answer is "no", documentation as an Alexander Calder is misleading.

Having the initials "CA" on a shirt does not make the shirt a Calder Work of Art.

A $2 bill Autographed by Andy Warhol that sold for $10,522 is neither Unique nor Rare.

2 Dollar Bill Signed "Andy Warhol" sold for $10,522.

The $2.00 bill that sold for an astonishing $10,522, should have been documented as "After Andy Warhol".

The reference to the $45 million achieved at Sotheby's for the 200 One Dollar Bills silkscreen ink on canvas painting is misleading. No reputable art dealer would compare an Andy Warhol 1962 Canvas to an autograph on a $2 bill!

Where is the truth in marketing? At best, the $2 bill should be documented as an After Andy Warhol, and at worst, it is worth $2!

The $2.00 bill attracted the attention of "luvwarhol" who bid $8,100; "luv warhol" also bid $900,000 on an Andy Warhol 22 inch Flower painting that recently fetched $1.322.5 million. Perhaps "luvwarhol" should be more discriminating?

Campbell's Chicken Noodle Poster fetches $2,875. in spite of Inaccurate Documentation

Campbell's Soup Poster Sold for $2,875.

Artnet discloses that a similar poster fetched $2,800 at a 2008, but did not disclose that a similar poster, designated as an "After Andy Warhol" only realized $1,600. at Swann Auction Galleries in June 2011.

Roy Lichtenstein Shipboard Girl Condition report is Contradictory

Roy Lichtenstein "Refreshed" Shipboard Girl

How can a work of art be a "nice fresh impression" and at the same time, be "refreshed with yellow color"?

The Shipboard Girl lot offered on artnet that has a bid of $20,000., includes disclosure that the Work has been "refreshed with a yellow color", yet the lot also states: "Nice fresh impression."

How much of the yellow has be refreshed?
Has the entire yellow been repainted from a mustard color to a bright yellow?
Who did the conservation?
Can the conservation be reversed?
Was the red and/or blue also refreshed?

None of this information is disclosed.

As a buyer and seller of fine art, consistency and accurate descriptions are essential. It is never a good sign to see misleading, missing, inaccurate documentation of fine art, as it generally means that the seller is not knowledgeable or the artwork is not correct.

A reputable Art Dealer would never confuse ephemera with a unique work of art and/or original Limited Edition.

Cindy Sherman: The New Face For M.A.C. Cosmetics

noreply@blogger.com (Joseph K. Levene) — Sun, 06 Nov 2011 20:59:21 PST

Cindy Sherman
For M.A.C. Cosmetics

Credit Cindy Sherman for changing the definition of the Contemporary Art Market. For decades, Contemporary Art Collectors, Galleries and Auction Houses viewed Photography as if it was "not as important" as Contemporary Painting and Sculpture.

Cindy Sherman has created three new Color Portrait featuring Cindy Sherman as the M.A.C Cover-girl Model for the launch of M.A.C Cosmetics, (Makeup Art Cosmetics), new, limited edition line of Cosmetics on September 29, 2011, prior to her 2012 MOMA Retrospective.

Cindy Sherman
Park Ave Plastic Surgery Cover-girl

M.A.C. Cosmetics commissioned Cindy Sherman to create "three characters using three different colour stories" just as she has done for over 30 years working as her own Model.

Cindy Sherman
Clown Cover-girl For M.A.C. Cosmetics

According to the M.A.C Cosmetic Press Release "With the help of props, makeup, prosthetics, wigs and sets, artist Cindy Sherman embodies this Power of Transformation—from off-kilter Hitchcock heroine to fresh corpse, Caravaggio portrait to Park Avenue Plastic surgery maven – all elaborate exercises in trying on different personas”.

"Each represents a group of lipsticks, eyeliners, eyeshadows and other beauty essentials that can be used to create a look that's avant garde, classic or somewhere in between."

The Cindy Sherman for M.A.C collection will be available in stores from September 29, 2011 - October 27, 2011 prices range from $14.50 - $38.00 for lipstick and eye shadow, respectively.

M.A.C Cosmetics, Makeup Art Cosmetics, was founded in Toronto, Canada by Frank Toskan and Frank Angelo in 1984. The first M.A.C store opened in 1991, in Greenwich Village, New York. M.A.C. products were initially created for professional make-up artists, but are now sold to consumers worldwide. Estée Lauder initially acquired an interest in M.A.C in 1994, then completed their acquisition of the company in 1998.

Five Cindy Sherman's have sold for more than $1 million at Public Auction and in 2011, Sherman, Untitled, an important Work from her Centerfolds Series sold for edition of 10 sold for nearly $4 million at Christie's NY.

Cindy Sherman
Sold for $3,890,500 at Christie's

Ms. Sherman will have a Retrospective featuring 180 photographs at the Museum of Modern Art from February 26–June 11, 2012.

Artnet Online Auction Attracts Multi-Million Dollar Bids

noreply@blogger.com (Joseph K. Levene) — Sun, 06 Nov 2011 20:59:21 PST

On July 13, Artnet began an Online Auction with 9 Pop Art Master Lots by Roy Lichtenstein, Andy Warhol, Mel Ramos, Tom Wesselmann and Robert Rauschenberg that ends July 20, 2011. Unlike Sotheby's and Christie's which add the buyer's premium on a sliding scale, Artnet online auctions add +15% buyers premium to every lot, whether a John Chamberlain Sculpture estimated at $3-$3.5 million or a set of After Andy Warhol Skateboards!

5 Artnet Lots have attracted online bids, yet none of the 9 higher priced lots has received a bid high enough to meet the seller's unpublished reserve. Experienced online auction bidders often wait until the last few minutes of online auctions to place bids so we have to wait until the final minutes if any of these higher priced lots sell.

Will any Lots Meet the Artnet Unpublished reserve?

Remarkably, Artnet has even been able to encourage two online bidders to place nearly $3 million dollar bids even though there has been no public exhibition of any lot.

The John Chamberlain Mrs. Yif Nif has a bid of $2,990,000., inclusive of the 15% buyers premium, but not enough to meet the reserve. The $3,000,000 to $3,500,000 estimate is more than double the highest price ever paid at auction for an 80's Sculpture by Chamberlain.

Two Record Prices If Reserve Reduced

If the reserve were reduced and the Owner accepts the current $2.6 million bid, this 1986 John Chamberlain would achieve two record prices:

- A record price for an Artwork sold in an online auction.

- It would establish an all time record price for any John Chamberlain Sculpture created after 1970, and well exceed the $1,161,000., fetched in 2008 at Christie's for a similar sculpture.

John Chamberlain Recent Comparables Not Disclosed In Lot Details

Artnet lot description acknowledges the recent record prices achieved at Auction for a John Chamberlain 50's Sculpture but avoids disclosure of several recent comparables for late Chamberlain Sculpture, essential to any buyer at this level, including the $550,000., achieved at Christie's Auction for a large Chamberlain from 1979.

In May 2010, John Chamberlain's Isabella's Line, 1979, fetched $550,000 at Christie's, but Artnet did not include this information in the online Auction for the John Chamberlain Mrs. Yif Nif Sculpture.

John Chamberlain

Isabella's Line, 1979

Sold for $550,000

Christie's May 11, 2011

Not Disclosed by Artnet

Chamberlain Sculpture Sold In 2008 Superior

The John Chamberlain sited by artnet as a comparable is of considerably better quality; the hammer price was $1 million and with buyers premium: $1,161,000, almost two million less than the current bid not meeting the reserve.

John Chamberlain From 1983

Sold for $1,161,000 at Christie's, May 13, 2008

The Andy Warhol 1978 Flower currently has a bid of $900,000, yet the lot also does not meet the seller's unpublished reserve. According to the Andy Warhol Catalogue Raisonne, there were numerous 22 inch flower paintings created in 1964; the one being offered by artnet was created in 1978 not as desirable as the 1964 versions. No provenance is stated prior to 1995; where has this painting been since it was created in 1978?

Unsold 1978 Andy Warhol 22 inch Flowers Not Disclosed

The last time a 1978 22 inch flower painting was offered at auction in 2004, it went unsold at Sotheby's with an estimate of $300,000 - $400,000; this information is not disclosed in the Lot.

Andy Warhol
22 inch Flowers, 1978

Unsold At Sotheby's November 10, 2004

Estimate $300,000-$400,000

2 Andy Warhol Blue 24 Inch Flowers From 1964 Not Disclosed In Lot

Since Artnet described the 1978 Blue Flowers as extremely rare and Artnet actively sells its historical pricing data for artworks at auction, the lot fails to disclose two other relevant Andy Warhol 1964 24 inch green and black Flower paintings, both more desirable/rare, that sold at Christie's for $440,000 and $688,000 in 2003 and 2005, respectively.

Andy Warhol
24 inch Flowers, 1964

Sold For $440,000

Christie's May 15, 2003

Andy Warhol
24 Inch Flowers, 1964

Sold for $688,000.

Christie's November 9, 2005

Only a few hours left to see if the multi-million dollar bids turn into record breaking artnet auction sales!

Was the $18 million Chinese Vase Correctly Documented?

noreply@blogger.com (Joseph K. Levene) — Sun, 06 Nov 2011 20:59:21 PST

Chinese Vase sold for $18 million by Sotheby's

A Chinese Vase expected to sell for only $800. to $1,200., was sold by Sotheby's NY for an astonishing $18 million on March 22, 2011. Described as an "unusual famille rose and gold decorated vase", an anonymous bidder paid $18 million for this 20 century porcelain.

$18 million Chinese Vase sold by Sotheby's

The Chinese Vase was part of 300 lots from the property of J.T. Tai and Company, a well-known Dealer of Chinese Porcelain; the Sotheby's Sale realized $36.3 million and took nine hours to complete.

Why did Sotheby's estimate the $18 million Chinese Vase at only $800-$1,200? Sotheby's felt there was no actual support to indicate the Vase was created before the 20th Century.

Chinese Vase sold for $18 million by Sotheby's

Why did Sotheby's include a Lot with such a low estimate in its sale? The Vase, part of estate property, was most likely included, as an accommodation since it was a part of 300 lot one owner sale. If the Famille Rose Chinese Vase Lot were presented for consignment to Sotheby's by most consignors, its $800-$1,200., estimate would place it well below the minimum lot value.

Is the $18 million paid for the Famille Rose Chinese Vase a good investment? We think the $18 million price paid for the Famille Rose Chinese Vase has significant downside risk, especially given there is no actual evidence to support its creation and ownership prior to the 20th Century. We endorse the advice of Tobias Meyer, Sotheby's Chief Auctioneer, who said recently in a WSJ Interview, "if you decide to collect antiquities, you'd better have the best expert on your side".

Would Sotheby's change the estimate if the Chinese Vase buyer consigned it again? Most likely, Sotheby's would not dramatically change the estimate to the several million dollar range if Vase if the Buyer consign it again for auction. Absent any new information, there is no reason to change its documentation from "probably Republican" which means it is a Vase created in the 20th Century, and its original estimate reflected this dating.

Another view of Chinese Vase sold for $18 million by Sotheby's

What prevented Sotheby's from stating the Vase was created earlier than the 20th Century? The adherence of the Sotheby's International Terms of Guarantee obviated use of documentation that indicated the Vase was created before the 20th Century. While some bidders felt the Vase could have been created as early as 1736-1795, there was no actual support for this creation date. Sotheby's Terms of Guarantee, ensures a Buyer a complete refund in the event the Lot counterfeit and/or not documented correctly.

Furthermore, since the Work was the property of a J.T. Tai and Company, an Internationally respected Dealer in Chinese porcelain, there was no reason to change its creation from the 20th Century. The Vase accounted for about 50% of the total realized prices of the Sotheby's Sale. The top ten Lots in the sale were as follows:

A Fine Blue And White Bowl Ming Dynasty, Yongle Period which sold for $1,594,500 (est. $800,000/1.2 million).
A 'Famille-Rose' Vase, Republican Period which fetched $1,314,500 (est. $6/8,000).
A Fine Carved 'Ding' Bowl, Song Dynasty which brought $392,500 (est. $15/20,000).
An Archaic Yellow Jade Ornament With Hinged Twin Discs Qing Dynasty sold for $434,500 (est. $10/15,000.
An Archaic Jade Fluted Ring Late Eastern Zhou/Western Han Dynasty fetching $338,500 (est. $1,500/2,000).

Judd Tully reports that "Bidders were convinced that the auction house was wrong in believing the piece to be a mere 20th Century copy."

Related articles

Why Google Is More Jargon Than Google Simple?

noreply@blogger.com (Joseph K. Levene) — Sun, 06 Nov 2011 20:59:21 PST

Google Jargon Is Not Always Google Simple or Easy

In November 2010, Matt Cutts asked the question "What would you do if you were CEO of Google"? Sometimes "simple" is best which is why we advocated Google introduce Google Simple as a Company-wide doctrine.

Everyone on the planet recognizes Google is a highly successful, innovative Internet company that introduces new product launches, improvements, at a clip that is the envy of any company, tech or not. Unfortunately, Google has also achieved unparallelled success even though it does not offer a dedicated customer service department for help.

The lack of a fully operational 24/7 Service Department is a serious flaw. Google has numerous terrific products, but if you determine why more do not use Google Custom Search; Google Adwords, App’s; Google Code; etc., it is not because of a lack of interest, it is because Google is not "Google Simple".

Perhaps Google has gotten so large it can no longer respond to users who are not tech savvy; put another way, does Management care? Oh sure, there are plenty of how to's, but too many guides are written in a Google Jargon.

Google has become a part of our lives; just like toothpaste and food. But unlike the packaged goods products manufactured by Procter & Gamble and Nabisco, Google doe not interact with users in simple English. There are dozens of new Google products, but unless tech savvy, most of us do not know how to best use a Google API, Google Gadget, etc.

While tech savvy users understand Google Ajax, more probably think it has something to do with the Dishwashing Soap manufactured by Colgate Palmolive.

Try to get an operator at Google, and/or an e-mail answer in a timely manner and you will see that Google is deficient as the e-mail will go unanswered, for weeks or months, and then someone will ask you to "restate your original question". The fact is Google does not publish any phone numbers nor e-mail addresses, period.

Instructions written in Google jargon are OK if you are a Google employee. These days even Webmaster Tools Instructions are written, more or less, in reduced jargon; go back two years to see the progress.

We recommend Google adapt a Google Simple Oath to:

Ensure Google Products/Instructions pass the ‘Stupid Test’, whether tech savvy or not.
Write “how to guides" in color code, to show what to insert, and where.
Avoid Google jargon.
Institute an e-mail system to answer e-mails on a timely basis.
Initiate a Customer Service Department with dedicated support.

Garry Gross, Photographer, of Brooke Shields Controversial Photographs Dies

noreply@blogger.com (Joseph K. Levene) — Sun, 06 Nov 2011 20:59:21 PST

Garry Gross Photograph of 10 Year Old Brooke Shields

Garry Gross, fashion photographer, best known for taking the controversial photographs of Brooke Shields, when she was 10 years old, has passed away.

In 1975, before Ms. Shields became a well known International child star, Teri, Brooke Shields' Mother, signed a contract for $450., that allowed Mr. Gross to take a series of controversial photographs of Brooke Shields, "in thick makeup and bejeweled, sitting and standing in a steaming, opulently decorated bathtub."

At the age of 17, Brooke Shields became a movie star for the movie "Pretty Baby", and was not able to legally stop Gross from selling the many photographs from that shoot.

"New York State’s highest court ruled that she could not break the contract. In its 4-to-3 decision, the Court of Appeals said that Mr. Gross could continue to market the photos as long as he did not sell them to pornographic publications."

Ironically, years later, Richard Prince appropriated the Garry Gross Photograph by photographing the original, and because Gross objected, later provided Mr. Gross with an out of court settlement. The Richard Prince Appropriation was exhibited at the 2007 Richard Prince Guggenheim Museum Retrospective in New York. More recently, Scotland Yard confiscated the Richard Prince Appropriation from the Tate Museum because it was a potential violation of obscenity.

The New York Times Obituary of Garry Gross.

Why Was The Andy Warhol Authentication & Antitrust Lawsuit Withdrawn?

noreply@blogger.com (Joseph K. Levene) — Sun, 06 Nov 2011 20:59:21 PST

Joe Simon with Andy Warhol Self-Portrait Stamped "Denied"

Joe Simon's long anticipated Federal lawsuit vs. the Andy Warhol Art Foundation and the Andy Warhol Art Authentication Board has come to a screeching halt according to Jason Edward Kaufman, at artinfo.com.

Although the Joe Simon lawsuit concerns the Authenticity rejection for his purported Andy Warhol 1964 Warhol Self-Portrait, that has been stamped "Denied", the lawsuit took on a larger scope as Simon accused the Andy Warhol Art Foundation of maintaining an 'illegal conspiracy" by limiting the number of Authentic Andy Warhol Works of Art.

The stakes are extremely high as Andy Warhol prices continue to soar as Warhol's market appeal continues and is substantially stronger now, than when the Artist died in 1987. The auction record for a Warhol is the $71.7 million paid for his 1963 Green Car Crash at Christie's in May 2007.

In November, 2009, the Andy Warhol, 200 Dollar Bill Painting achieved $43.7 million at Sotheby's, NY, making it the second highest price ever paid for an Andy Warhol Painting at Auction.

The Andy Warhol Art Authentication Board's rejection of the Mr. Simon's Andy Warhol 1964 Warhol Self-Portrait has significant financial consequences, stripping the value by millions, rendering the painting worthless.

According to Seth Redniss, Mr. Simon's attorney, the lawsuit will be withdrawn at the next hearing, scheduled for November 10 in federal court in the Southern District of Manhattan.

On 10/23/10, Mr. Simon stated to Kaufman "my attorney Seth Redniss has been trying to fight three major law firms, including Boies Schiller LLP on two continents. The Warhol Foundation has already spent several million dollars defending what they continue to describe as a `frivolous’ suit–without putting so much as a dent in our argument that Warhol’s series of Red Self Portraits is authentic."

"I firmly believe that my case is robust, and that I would prevail if it were to come to trial. Although I would like to continue, but as one attorney wrote “there is no law firm which could afford to go against this sort of legal team spending millions of dollars”. Since I lack the financial resources available to the ‘not for profit’, I can no longer continue with the case."

Mr. Redniss believes that the evidence "definitively establishes that Warhol knew about Joe Simon's painting and the series it was from and that he considered it an authentic work." But it now appears that the case will close without the court deciding the merits of the art-historical evidence.

The complete article from Jason Edward Kaufman is here.

Why Was Jasper Johns Not On ArtReview Power 100 List?

noreply@blogger.com (Joseph K. Levene) — Sun, 06 Nov 2011 20:59:21 PST

Jasper Johns Numerals, 1969

ArtReview has published its annual 2010 Power 100, a comprehensive list that ranks the art world's most powerful Gallerists, Collectors, Curators and Artists. According to ArtReview, the Power 100 List is ranked "according to a combination of influence over the production of art internationally, sheer financial clout and activity in the previous 12 months".

Artists on the 2010 ArtReview Power 100 List include Cindy Sherman, Jeff Koons, Gerhard Richter, Takashi Murakami, Bruce Nauman, Maurizio Cattelan and Damien Hirst.

However, the omission of Jasper Johns, ranked 74 on the 2009 Power 100 List, makes little sense. After all, 2010 has been a banner year for Jasper Johns, establishing numerous market place and auction records, while prices of Damien Hirst have declined over 93% vs. year ago.

Jasper Johns Savarin Monotype
Sold for $1.3 million, a record price for any Post-War or Contemporary Print

Jasper Johns, considered by many, the most important living Post-War and Contemporary Artists, established two Auction records in May 2010. The first record, Jasper Johns Flag Painting, from the Estate of Michael Crichton, fetched $28.6 million, an all time Auction price for the Artist. Also, a record price was achieved for any Post-War or Contemporary print auction when Jasper Johns Savarin Monotype (ULAE S36) fetched $1.3 million at Christie's, also from the Estate of Michael Crichton.

Jasper Johns' absence from the Power 100 List is more puzzling since ArtReview ranks Steven A. Cohen in the 32nd place; after all, Mr. Cohen purchased Jasper Johns important 1958 Flag Painting for a reported $110 million earlier in the year from Jean-Christophe Castelli.

The complete Power 100 List is here.

How Did eBay Enable The Convicted Banksy Art Forgers?

noreply@blogger.com (Joseph K. Levene) — Sun, 06 Nov 2011 20:59:21 PST

Bansky Kate Moss

Two UK Banksy Art Forgers, each enabled by eBay's lack of consumer fraud protection, received suspended sentences, even though each sold hundreds of Banksy Counterfeits, deceiving countless eBay Buyers. These eBay Buyers now have worthless Art along with worthless Certificates of Authenticity.

Thus far, over 120 fake Banksy's sold by the two con men have been recovered, which, if genuine, are valued in excess of $350,000.

Lee Parker and Grant Champkins-Howard were convicted of selling hundreds of Banksy Counterfeits, yet a UK judge only sentenced them to 12-month suspended sentences after pleading guilty to conspiracy to defraud, plus five years community service.

In addition, each is banned from selling anything on the Internet for five years, but the damage is done, especially since since each eBay Buyer spent thousands, and some may still not know they purchased a fake.

How many purported Banksy's were sold?

We doubt anyone knows and are certain many are still in the marketplace.

Why did eBay condone the Banksy con?

eBay condones counterfeits because banning them entirely would severely impact revenue. eBay Management continues to favor maximizing revenue in lieu of instituting a meaningful consumer fraud protection system.

It is undeniable that eBay facilitated the Banksy fraud by allowing the con men set up multiple eBay Accounts along with different alias and multiple PayPal accounts and multiple e-mail addressees. From eBay's standpoint, the two cons were "successful eBay Sellers", and while the eBay Buyer was hurt, eBay takes zero responsibility.

Even with eBay's "10 year too late Buyer Protection Policy", fraudulent listings are the norm, only eBay and PayPal now proclaim to guarantee often obvious Counterfeits by Andy Warhol, Leonardo Da Vinci, Pablo Picasso, Keith Haring, Roy Lichtenstein, etc.

eBay takes the position that since it does not directly buy or sell anything, there is no obligation to provide the consumer with fraud protection. It is that obvious deficiency that has made eBay a magnet for Brand Name Counterfeits.

The con men recognized how to keep their fraud under the eBay radar and provided Buyers with a worthless "Certificates of Authenticity" (COA) for the purported Banksy's. In the event of a Buyer challenge, they refunded the Buyer's money, most likely, without damage to their feedback.

According to eBay's Buyer Protection program, eBay states a Buyer can usually get their money back if you get an expert opinion stating that the Item in question is "Not authentic" and/or genuine.

Who is the Authorized Expert for Banksy?

We don't know; we are certain eBay does not know either.

In a 2006 eBay Article titled Fine Art or Fake Art, Joseph K. Levene Fine Art, Ltd., wrote, "Many eBay Sellers state that their eBay lot is accompanied with a Certificate of Authenticity. eBay has made the fake Certificate of Authenticity into a cottage industry. Art Buyers should recognize that the inclusion of a meaningless Certificate of Authenticity does not instantly transform a Fake Work of Art into being "an Authentic Work of Art".

According to eBay fine print "items must be purchased on the U.S. eBay.com website to qualify for eBay Buyer Protection coverage, and are covered for 45 days from the date of payment".

Report a fraudulent listing to eBay and eBay's lack of vigilance is apparent, as you receive an error message stating "eBay doesn't recognize a matching lot number in you Buyer history."

To eBay, there is no fraud until the fraud occurs, not before, unless the inquiry comes from the copyright owner.

Buying Fine Art is Not like buying Detergent!

noreply@blogger.com (Joseph K. Levene) — Sun, 06 Nov 2011 20:59:21 PST

Buying Fine Art is not like buying Detergent; the key is to "buy intelligently". Art buyers often make the wrong decision when comparing two examples of the same Work of Art with the objective of "saving money". Many Buyers fall prey to buying the Work of Art with the lowest price, and often not the best.

Daniel Grant wrote a WSJ Article titled Why You Can't Always Trust Art Dealers which casts a negative light on Art Dealers. We don't condone the ethical behavior sited by Mr. Grant and agree due diligence is essential to protect financial harm.

However, condemning Art Dealers is similar to saying you cannot trust all lawyers. Due diligence by Art Sellers/Buyers is necessary. Seeking a second opinion from a knowledgeable/reputable Professional Art Dealer can help avoid financial disasters since novice Art Buyers/Sellers are at a disadvantage regarding Authenticity, Condition, Title, etc.

Ask questions.
Get references
Do not accept hyperbole
Avoid experts in everything

It is doubtful that any Art Dealer is an authority in everything. And never sell your Art to the person who also appraises it since it is a conflict of interest. If you want an Appraisal, seek a legitimate Appraiser who has the scholarship and connoisseurship of the respective field they are appraising, but do not also sell them your property.

Qualified Appraisers will never appraise any type of property without a physical inspection. Any Company/Independent Appraiser who says otherwise is not doing you any favors, especially for accurate appraisals.

As Mr. Grant suggested, artnet.com, artprice.com, artvalue.com, etc., are useful tools, but only relying on these reference tools can be limiting. Many art buyers often forget that when you compare prices, Condition Matters, and relying on only these Art research tools omit this key point.

Create Your iPhone Masterpiece 24/7 With Free MoMA App!

noreply@blogger.com (Joseph K. Levene) — Sun, 06 Nov 2011 20:59:21 PST

Cindy Sherman Screenshot

The Museum of Modern Art (MoMA) has introduced a Free IPhone App that also works on the Apple iPod. With the new, Free iPhone App, it is easy to create a high resolution photo in or out of the Museum and transform it into your own iPhone Postcard Masterpiece.

You can use the Free MoMA App anytime since it gets you 24/7 access to 32,000 images in The Museum of Modern Art Collection, anywhere.

Andy Warhol Soup Cans Screenshot

MoMA visitors can use their iPhone to snap their favorite Andy Warhol Soup Can or their kids in front of a Cindy Sherman Film Still.

Or, just use the iPhone to take photos of one the many Jackson Pollocks or Jasper Johns' iconic Targets, Flags and Maps Paintings in MoMa's Collection.

Allegra Burnette, Creative Director of Digital Media at The Museum of Modern Art, says "with MoMA’s new App and other upcoming initiatives, MoMA is taking advantage of features specific to an iPhone and iPod touch, and also actively building a platform for publishing content to multiple devices.”

The new MoMA App provides 24/7 access to:

A Calendar of current and upcoming exhibitions, daily events and film screenings, with the ability to share via Facebook or Twitter.

Tours, which include the MoMA Audio programs, with five distinct tour options, such as Special Exhibitions, Modern Voices, Modern Kids, MoMA Teen Audio, and Visual Descriptions, and the ability to browse by floor or stop number.

An Art index of over 32,000 Works featured in the Museum's Collection as well as a database of art terms and Artist biographies.

Information about the Museum, including hours, admission and transportation.

Access to MoMA resources on iTunes, iTunes U, and YouTube.

Download the MoMA App at http://www.itunes.com/app/moma

The MoMA App is free from the App Store on iPhone and iPod touch or at http://www.itunes.com/app/moma

24/7 Access to the MoMA Collection is free with the New MoMa App, almost as good as visiting the Museum.

Rare Leonardo da Vinci & Jackson Pollock Or Sherlock Holmes Hoax?

noreply@blogger.com (Joseph K. Levene) — Sun, 06 Nov 2011 20:59:21 PST

A New Yorker Magazine Article by David Grann raises questions about Peter Paul Biro and his fingerprint methodology he claims to use to authenticate Works of Art by Jackson Pollock and Leonardo Da Vinci.

Has Peter Paul Biro found a scientific way to authenticate Works of Art with fingerprints?

Or is Mr. Biro using a so called fingerprinting technique to create a false back story and provenance for Works of Art that actually do not have any verifiable exhibition history and ownership?

Sometimes Sellers of Art resort to creative ways in their quest to develop a false history to make worthless Art appear more valuable by creating ways that purportedly claim Authenticity.

"In a 1903 Sherlock Holmes story, “The Adventure of the Norwood Builder,” the detective discovers that a criminal has made a wax impression of a solicitor’s fingerprint and then framed him by stamping the forged fingerprint at an apparent murder scene. It was a masterpiece of villainy.”

The more things change, the more things stay the same. Read more about Mr. Biro here.

$45 Garage Sale Find Or $200 million Ansel Adams Treasure?

noreply@blogger.com (Joseph K. Levene) — Sun, 06 Nov 2011 20:59:21 PST

Ansel Adams Mountains

A claim that a $45.00 garage sale find of Ansel Adams negatives supposedly worth $200 million is growing more dubious.

"Matthew Adams, who runs the Ansel Adams Gallery, said even if they are authenticated, they are not worth much beyond their historical value."

The "controversy took a bitter turn a day after California wall painter Rick Norsigian and his lawyer held a news conference at Streets' Beverly Hills art gallery to say they have proof the negatives were created by Ansel Adams."

Read more about the controversy from CNN here.

Why Do Auction Houses Get A Free Pass On Condition?

noreply@blogger.com (Joseph K. Levene) — Sat, 28 Jan 2012 21:25:31 PST

Why did Sotheby's state its Jasper Johns Savarin Blue is in "good condition"?

Why did Sotheby's state the Jasper Johns Savarin Blue Lithograph offered and sold at auction was in "good condition" even though the impression was no longer Blue?

Since the blue is significantly faded in the Savarin Blue sold by Sotheby's, (the impression on the left), why did Sotheby's state that the lot that fetched $46,000., "is in good condition"?

The side by side comparison demonstrates the condition difference between a Pristine impression as originally published in 1979 by U.L.A.E. and the impression sold at Sotheby's.

You can immediately see the "blue" is significantly faded in the impression on the left. The Buyer of the Sotheby's Jasper Johns Savarin 6 (Blue), was misled since the Jasper Johns Savarin Blue sold by Sotheby's is not "in good condition".

There are 2 essential issues when you Buy Fine Art:

Authenticity
Condition

Although Sotheby's and Christie's have a terms of Guarantee for Authenticity, there is always a disclaimer in all Catalogues regarding condition.

Condition Disclaimer

Frequent abusers of inaccurate Condition Reports are major International Auction Houses, including Christie's and Sotheby's, as well as smaller Auction Houses, Phillips de Pury, Bonhams and Swann.

Auction Houses regularly issue misleading condition reports, and due to cut-backs, no longer routinely publish condition statements in catalogues, leaving buyers blind, especially if they do not inquire regarding condition.

Did the Buyer of the $107,000., Marcel Duchamp Boite sold at Christie's on 7/7/2010 realize the extensive insect infestation?

Marcel Duchamp Boite Christie's Sold for $107,000.

Although Christie's offered the Marcel Duchamp Boite with the extremely low estimate of $7,535 - $10,046., there was no statement of condition in the published catalogue description.

We hope the buyer of this Duchamp realized the Boite was not only accompanied with the excrement of a thousand insects, but also augmented with "dust control by micro-aspiration of every element constituting the bag"; "alteration in watercolor", (the Boite was not originally published with watercolor) and "consolidation of the other landings".

By the way, this only begins the "bad" news; the full treatment report must be requested, if the prospective bidder/buyer knew to request it. Let's hope the buyer read it and was fully informed!

We would not buy nor sell a Work of Art in this degraded condition, nor recommend its purchase to anyone. Furthermore, no reputable Art Dealer would consider selling this Work of Art in such compromised condition without explicit disclosure.

This Duchamp Boite was no bargain, even with its low estimate; not publishing a condition statement is unacceptable.

What do we mean?
The unpublished condition report, only provided on an "as requested basis" by Christie's, indicates the following treatment:

"Restored paper losses due to the insects especially on "stoppage étalon" which is print on blue and grey vellum paper. Tiny tears to the "braseuse de chocolat". Spots of Foxing inside the cover box and mat staining inside the cover box. The outside of the box is dirt.

Description of the restoration interventions:

Dust removal by micro-aspiration
Consolidation of the elements of "stoppage étalon"
"Tu m", laying of Japanese paper on the lacks, watercolor retouches.
Consolidation of the other unstuck elements.
The complete restoration report is available on request.

Did the Buyer of the $823,000., Jasper Johns 0-9 Set of 10 Lithographs realize the Number 9 was completely faded?

The Jasper Johns 9 is here.
Do you see it?

The Jasper Johns Set of 10 Number Lithographs, offered from the Estate of Merce Cunningham, was sold by Christie's for $823.000., which boils down to $82,300., per print.

Why did the catalogue illustration of this nearly million dollar lot not show accurate colors?

Here is a photograph of the Jasper Johns 0-9 Set taken by us during the auction preview, which confirms the colors were not only faded, but most shocking, where is the missing Figure 9?

Look for yourself.

The entire Jasper Johns 0-9 Set with the missing Figure 9.

Many Auctions Houses state a lot is in "Good Condition", when the condition report clearly indicates otherwise or omits other key issues.

On 7/13/2010, Bonhams will auction a purported Andy Warhol Liz. It appears that stating a lot is in "good condition" is a requisite for all lots at Bonhams, whether true or untrue.

The unpublished condition not only sites the above listed issues, but omits that this particular impression is trimmed considerably by over 1.3 inches on each side, but is "otherwise in very good condition".

The Andy Warhol Liz was originally published as an offset lithograph with a size of 23 1/8 inches x 23 1/8 inches, yet Bonhams never states that this Work is trimmed!

Which is better?

Good condition

Good condition aside from occasional scuffing, a crescent shaped crease at the lower left and creasing in the upper left and lower corners.

How can a Work of Art be "otherwise in good condition" when it has scuffing, craquelure, ink loss, soiling, nicks, etc.?

Phillips de Pury recently sold a Bruce Nauman Work for $108,100., that was described in the catalog as follows "craquelure in the surface, slightly discolored in places along the lower and left sheet edges, a foxmark in the lower right corner, scattered soiling in upper right corner, a few nicks at the sheet edges (particularly lower sheet, some with associated minor surface loss), soiling and discoloration on the reverse, otherwise in good condition."

There is not much left to be in any type of good condition after you read through the litany of problems on the described Bruce Nauman sold by Phillips de Pury for $108,100.

Since there is no agreed upon industry standard for assessing the condition of works of art, buyers should always obtain the advice of a professional and informed art expert when buying works of art at auction.

Jasper Johns $28.6 million Flag Has Museum Exhibition

noreply@blogger.com (Joseph K. Levene) — Sun, 06 Nov 2011 20:59:21 PST

According to Carol Vogel of The New York Times, the Jasper Johns painting of the Flag that sold for a record price of $28.6 million will be exhibited at the Pennsylvania Academy of the Fine Arts until September 12, 2010.

“We don't have a Jasper Johns, and we are not strong in works from the 1950s and 1960s,” said David R. Brigham, President of the academy.

"It was the collector who agreed to lend the painting to the academy. It is an icon of American art, and we are dedicated to the history of American art,” Mr. Bingham said.

The American Flag, Targets, Numbers, Maps and Alphabets have been recurring iconic themes used by Jasper Johns since the mid-50's when the Museum of Modern Art acquired the Artist's larger encaustic version of his red-white & blue American Flag Painting.

Jasper Johns is particularly fond of the American Flag image since he did not have to design the flag. Creating Art with the Flag image provided Jasper Johns with a creative freedom of making the painting.

Like the Flag Painting in the Collection of the Museum Of Modern Art, the $28.6 million Flag Painting, an all time auction record for the Artist, is also created with encaustic. A process of mixing hot wax with pigment, encaustic is a medium Johns has used since the 1950's that allows the viewer to see the many layers of his paintings.

Since the mid-1950's Jasper Johns has predominantly used the flag image in approximately 30 paintings, 14 prints and 50 drawings. In addition to single flags, Jasper Johns has created art with double flags, multiple flags, superimposed flags, backward flags and vertical flags. He has even created monochromatic versions, including Flags in gray, black, in various mediums, canvas, paper, print and even lead reliefs.

Johns created a variation of the Flag in 1965, during a Period termed by many as "Op Art". Johns created a vertical painting of two flags; on the top portion is a green, black, and orange flag, and on the bottom section, a gray field.

After staring at the top flag for about 30 seconds, the colors of the top flag desensitizes the retina so that the viewer sees an after-image in red, white, and blue, the complementary colors of the green, black and orange flag. With this painting, the viewer rather than the artist, "paints" the flag in its traditional red, white and blue colors.

Jasper Johns has also used the Flag as an important symbol in a Retrospective Series he calls the Seasons and also in Ventriloquist, also considered an image of self reflection.

In 1990 the artist reflected on this body of work: "The flag images exist at different levels of recognizably. Some are easier to see, when they are red, white, and blue, while others more obscure such as his gray ones and the one used in his Lead Relief.

The public will now have a second chance to view the $28.6 million Flag painting that has the same iconic strength of the Artist's larger red white and blue encaustic flags. Before being sold for a world record price by the Artist, the painting was the sold by the Estate of the late Michael Crichton, the mega-selling thriller writer of 'Jurassic Park', and TV series "ER.

Was The Robert and Ethel Scull Art Collection Museum Quality?

noreply@blogger.com (Joseph K. Levene) — Sun, 06 Nov 2011 20:59:21 PST

George Segal Portrait of Robert and Ethel Scull, 1965

Robert and Ethel Scull, once had a Pop Art Collection comprised of numerous Museum Quality Masterpieces, before disposed by Sotheby's in 1973 and 1986. In fact, the quality was so strong, it was the equivalent of several Museums, now that many of their Works are actually in the Museum Collections these days.

The Sculls collected first class Art by Jasper Johns, Andy Warhol, Frank Stella, Roy Lichtenstein, Willem de Kooning, James Rosenquist, George Segal, John Chamberlain and dozens of other now legendary Pop Art names.

The Robert and Ethel Scull name is an Internationally recognized Blue-Chip Provenance for the vast material sold at two historic Sotheby's auctions, which changed the Contemporary Art landscape.

In 1973, the Sculls first auctioned 50 paintings and sculptures, which yielded $2.2 million.

Sotheby's 1986 Catalogue Cover

11 years later in November, 1986, 142 additional Robert & Ethel Scull Paintings & Sculpture were auctioned for $10 million at Sotheby's New York.

Acquavella Galleries has gathered 44 of the most striking works from the Scull Collection from 11 museums, 2 foundations and 22 private collectors.

The Robert and Ethel Scull Collection Exhibition "reunion" is astonishing for its quantity of Museum Quality Pop Art Masterpieces that rivals many Museums.

Jasper Johns was one of the Scull's favorites. At one point Mr. & Mrs. Scull owned 22 major Jasper Johns Works, seven of which are included in the Acquavella Exhibition, including three Jasper Johns Paintings of a Map, 1961; Double Flag, 1962; Target, 1961, and an extraordinary, large, 0-9, 1961, Charcoal and pastel on paper, a masterpiece of Jasper Johns' draughtsmanship.

Jasper Johns, Map, 1961, an oil on canvas, currently in the Collection of the Museum of Modern Art, a gift of Mr. and Mrs. Robert C. Scull, is Pop Art Masterpiece shown in context with other Art Works formally in the Scull Collection.

Also included in the Exhibition is Jasper Johns, Target, 1961, an encaustic and newspaper collage on canvas that Robert and Ethel Scull originally sold for $125,000, at Sotheby's 1973 historic auction.

Jasper Johns Target 1961 Encaustic on Canvas

After the 1973 Sotheby's auction, the Jasper Johns Target, 1961 Painting, was acquired by Lord Peter Palumbo, prior to its 1989 sale by Petersburg Press; at that time, Joseph K. Levene was President/COO of Petersburg Press, Inc.

The painting brought back vivid memories when I viewed the Jasper Johns Target 22 years subsequent to viewing the Painting at Crozier's Chelsea warehouse. In 1997, the Jasper Johns Target found its current Chicago home when acquired by Stefan Edlis from the Leo Castelli Gallery.

Not included in the Exhibition is James Rosenquist's F-111, 1964-65, an 85-foot-long, 51-panel Painting, sold for a record $1.9 million at the 1986 Scull Auction, currently in the Collection of The Museum of Modern Art.

Robert and Ethel Scull had the good fortune of persuading Leo Castelli to sell them James Rosenquist's F-111 Pop Icon, for $45,000., a decision Leo Castelli liked since it obviated breaking the Painting into separate sections.

Also not included in the Exhibition, but making International headlines, is Andy Warhol 200 Dollar Bills, 1962, which first brought $385,000 at the 1986 Sotheby's Scull Auction.

In November 2009, the Andy Warhol 200 Dollar Bills became the second highest price Andy Warhol ever sold at public auction when the Painting achieved $43.7 million, not a bad profit!

The Acquavella Galleries Exhibition demonstrates the extraordinary eye for quality shared by the late Robert and Ethel Scull.

Marc Porter, Chairman Christie's, Spring 2010 Art Market: CNBC Interview

noreply@blogger.com (Joseph K. Levene) — Sun, 06 Nov 2011 20:59:21 PST

Christie's Rockefeller Center, New York

Marc Porter, Chairman Christie's North America, was interviewed on CNBC about the state of the International 2010 Art Market.

Mr. Porter discusses Christie's dominance in the marketplace; hedge fund buyers and its Art Market dominance given the $652 million Christie's realized from its Spring auction sales of Impressionist, Modern, Post-War and Contemporary Fine Art.

Notable Auction Records Achieved at Christie's Spring Auctions:

Pablo Picasso's Nude, Green Leaves and Bust, from the Collection of Mrs. Sidney F. Brody, sold for $106,482,500, establishing a new World Record price for any Work of Art sold at Auction.

Pablo Picasso Painting Sold by Christie's for $108 million, a record price for a painting at auction.

Jasper Johns Flag, from the Collection of Michael Crichton, sold for $28,642,500, a new record price for Jasper Johns Work sold at Auction.

Jasper Johns Flag sold for $28.6 million, a record price for a Johns Work at auction.

Jasper Johns’ Savarin Monotype (ULAE S36), also from the Collection of Michael Crichton, was sold for $1,314,500., a all time high Record price for a single Post-War and Contemporary Print sold at Auction.

Jasper Johns Savarin Monotype sold for $1.3 million, a record price for a Print by a living Artist.

Mr. Porter, uunequivocally states neither margin nor credit is accepted by Christie's, demonstrating the magnitude of these records, even if the purchase is from a hedge fund buyers.

Jasper Johns Flags Keep Making Headlines

noreply@blogger.com (Joseph K. Levene) — Sun, 06 Nov 2011 20:59:21 PST

Jasper Johns, considered one of the most important living Post War and Contemporary Artists, has been making International headlines since the 1950's when The Museum of Modern Art (MOMA) acquired the Artist’s breakthrough American Flag Painting, a Gift of Philip Johnson in honor of Alfred H. Barr, Jr.

"When Jasper Johns made Flag, the dominant American art was Abstract Expressionism, which enthroned the bold, spontaneous use of gesture and color to evoke emotional response. Johns, though, had begun to paint common, instantly recognizable symbols—flags, targets, numbers, letters."

"Breaking with the idea of the canvas as a field for abstract personal expression, he painted things the mind already knows. Using the flag, Johns said, took care of a great deal for me because I didn't have to design it. That gave him room to work on other levels—to focus his attention on the making of the painting."

On May 11 and 12, 2010, Christie's New York, will offer Jasper Johns’ Flag, 1960-1966, Painting from the Collection of Michael Crichton, and its eventual multi- million dollar auction result will, without doubt, make headlines.

At minimum, the result will not only establish a new auction record for all Paintings created by Jasper Johns, but may also establish an all time record for a Work of Art sold at public auction. Steven A. Cohen recently paid $110 million for the Jasper Johns Flag, 1958, an iconic red, white and blue Flag painting created with 48 stars.

Mr. Cohen purchased Flag, 1958, the iconic Jasper Johns masterpiece from the Collection of Jean-Christophe Castelli, who inherited the Painting, from his Father, Leo Castelli, the legendary Art Dealer who died in 1999.

Prior to its recent purchase, Flag, 1958, had been on extended loan to the San Francisco Museum of Modern Art.

Jasper Johns Flag, 1960-1966, an encaustic and collage on canvas, from the Estate of Michael Crichton, is certain to establish a new public auction record.

The odd are in its favor!

Jasper Johns Flag,1960-1966, has never been offered for sale. The painting has an extraordinary Provenance. Consigned from the Estate of Michael Crichton, the best-selling film maker and author of Jurassic Park, who also wrote the Jasper Johns Whitney Museum Exhibition Catalogue, Mr. Crichton acquired Flag,1960-1966, over thirty years ago, directly from the Artist.

Only two feet wide, Flag,1960-1966 has the power of a Jasper Johns Painting many times larger. Rarely exhibited, the last time was 18 years ago at the Royal Academy of Arts, London, the Crichton Jasper Johns' painting is destined to create International headlines, that could take years to surpass. Over the last six decades, Jasper Johns has created approximately 30 Paintings, 50 drawings/works on paper and 14 prints using the iconic Flag image in different ways, shapes, colors, sizes, forms and colors.

In addition to Red, White and Blue Flags, the Artist has created:

Flags in Green and Orange
Flags in Shades of Gray and Black
All White Flags

Each is linked by the Artist's use of the Flag image, and all were created not because of the Artist's patriotism, but because the flag is a part of the things the mind already knows, similar to the Artist's Targets, Alphabets, Numbers, Maps.

Like the Artist’s Targets, Maps, Numbers, and Alphabets, the American Flag fulfilled Jasper John's interest in depicting "things the mind already knows”, pre-determined, recognizable images that allowed the Artist to focus on surface and execution rather than subject matter. "It has been suggested that the American Flag in Jasper Johns Work is an autobiographical reference."

Incorporated in Jasper Johns' The Seasons, 1987, the Red, White and Blue Flag seems inescapably to refer to his Johns' Art. Over the last six decades, Jasper Johns has made of point keeping his iconic Flag image fresh as he keeps changing the spacial relationships of the Flag image.

An analysis of Jasper Johns Art with Flags shows that the Artist has created many Single Flag Paintings, like the Crichton and Cohen Flags. Jasper Johns has created the following Works with Flags:

Flags within Larger Fields
Multiple Flags
Backward Flags
Vertical Flags
Superimposed Flags
Hand Colored Flags modified over Prints
Unique Color Trial Proof Flags

Recently, the Artist created two Linocuts that the Artist also published featuring the red, white and blue American Flag along with the Artist's Portrait and George Ohr pottery.

A Unique Jasper Johns Painting and Work on Paper commands millions of dollars; that is not the case for Jasper Johns Prints. Jasper Johns Prints are especially good value; the Artist has created an extraordinary body of Museum quality Prints that are coveted Internationally by Museums and Private Collectors.

Of the 14 Prints featuring the American Flag, the red-white-blue Flag is a dominant image in 5 prints, including: Flags I, 1973, published by Simca; Two Flags (Whitney Anniversary), 1980, published by Gemini; Flag On Orange, 1998 and Flag and Vase, 2001, a smaller version of Untitled, 2000, published by Low Road Studio.

Aside from Jasper Johns' Flags I, 1973, the classic Double Flag Screenprint published at Simca, many Jasper Johns Prints, especially those with the Flag image, are not only Museum quality, but also still reasonably priced.

An example is Jasper Johns, Untitled, 2000, a Color Linocut that incorporates the Artist's iconic red-white-blue Flag. This iconic Jasper Johns Print was published by Low Row Studio, in an edition of only 38 numbered impressions with 6 Artist's Proofs. Other examples of Jasper Johns Untitled, 2000, are included in these prestigious Museums:

Why Did Plexiglass Add +$400,000 To The Price Of An Andy Warhol Jackie?

noreply@blogger.com (Joseph K. Levene) — Sun, 06 Nov 2011 20:59:21 PST

Andy Warhol Jackie II Unpublished Proof on Plexiglass Christie's sold for $446,500.

On March 11, 2010, Christie's sold an Andy Warhol Jackie II Unpublished Proof on Plexiglass for $446,500., far exceeding the published estimate of $40,000-$60,000.

Identical in appearance to the more common Andy Warhol Jackie II, 1966 Screenprint on Paper, published in an Edition of 200, (F&S II. 14), the correct medium of the Lot sold today by Christie's is "Screenprint on Plexiglass". The Buyer of the Andy Warhol Jackie II on Plexiglass paid a premium of over $400,000., for the same image, sold at public auction as a Jackie II Screenprint.

The Andy Warhol Jackie II Screenprint, the image and color identical, has routinely sold at public auction for substantially less than the $446,500. Warhol Jackie II on Plexiglass. One Jackie II Screenprint fetched $22,000., the other $13,200. The following photographs from the respective auctions show that the Andy Warhol Jackie II Image and size are essentially the same, yet the prices are $400,000., less!

Andy Warhol Jackie II Screenprints routinely sell for substantially less.

Let's look at the accuracy of the Christie's Catalogue Documentation for the Andy Warhol Jackie II Proof on Plexiglass that realized $446,500.

Is The Jackie II on Plexiglass Actually Signed By Andy Warhol?

Although Christie's indicates the Jacqueline Kennedy II (Jackie II) is "Signed Andy Warhol", the Official Certificate from the Andy Warhol Art Authentication Board, Inc., is not definitive. The actual Andy Warhol Foundation Certficate, dated 12/21/09, states "The signature may or may not be by Andy Warhol."

Is The Jackie II on Plexiglass really Painted?

The Christie's Catalogue description indicates the Jacqueline Kennedy II (Jackie II) is "Painted", yet the Andy Warhol Art Authentication Board, Inc., Certificate states the sold Christie's Lot is a "Screenprint on plexiglass."

Why did Christie's not state the Jackie II is an Unpublished Proof?

The Christie's Catalogue description omits the important "Unpublished Proof" reference. The official Andy Warhol Art Authentication Board, Inc., Certificate states that the Jacqueline Kennedy II (Jackie II) "is an unpublished proof that relates to the published edition of Jacqueline Kennedy II by Andy Warhol".

The financial reality of Buying Fine Art in 2010 demands Seller accuracy.

Why Buying Fine Art At Auction Is Not For Amateurs?

noreply@blogger.com (Joseph K. Levene) — Sun, 06 Nov 2011 20:59:21 PST

Buying Art at Public Auction can result in great upside, but for those without the right knowledge, it can be be financial suicide.

The recent sale of the Andy Warhol 200 Dollars Painting, purchased for $385,000., at Sotheby’s NY historic Robert & Ethel Skull Auction and sold by the same owner in November 2009, for $46 million., is an example of great upside.

According to Scott Reyburn of Bloomberg.com, Lilly Safra purchased the Bronze Cast Alberto Giacometti’s Walking Man I, Sculpture sold by Sotheby's London for $104 million. Mrs. Safra is the widow of Edmond J. Safra, the Lebanese Banker who died in a fire in his Monaco apartment in 1999.

The staggering $104 million price established two records, the highest price ever paid for a Work of Art at public auction, as well as the highest price for an Alberto Giacometti Scultpure.

More astonishing, Walking Man I is not unique; nine others exist, just like it or better. To be specific, Walking Man I is one impression from the Numbered Edition of 6 casts, plus 4 Artist Proofs created by the Artist.

The first cast, from the edition of 6 of Alberto Giacometti’s Walking Man was initially created for acquisition by David Rockefeller for the Chase Manhattan Art Collection, but in the end, the New York Bank, now known as JP Morgan Chase, declined that cast, a a more desirable hand-painted version. As a result, in 1959 Aimé Maeght decided to purchase that cast, for the Maeght Foundation in Saint Paul, where it resides today.

The prior Giacometti Sculpture record was $27.5 million, paid for the Artist's Grande Femme Debout II, at Christie’s, New York, in May 2008. Mrs. Safra's $104 million purchase of the 1961 Alberto Giacometti is a text book case that buying Art at Public Auction is not recommended for Amateurs.

Mrs. Safra was aware of a second cast of the exact same Alberto Giacometti Sculpture as she was unable to successfully negotiate its purchase from a leading well establishing International Art Gallery in the $40-$50 million price range.

Frequently, Art Buyers overpay at Auction. Some buyers think it is prestigious to buy at auction and some do not mind paying two or three times the auction estimate, especially buyers from Russia and the Middle East.

Others like the glamour and pereceived celebrity status of buying at auction and having their name appear in the paper. Still others view auction buying like a grudge match, and just want to win the lot by bidding more vs. the alleged underbidder, assuming one exists.

Finally, there is the naive buyer who keeps bidding even though they are actually not bidding against any other bidder. The naïve bidder is not aware the “bidder” does not exist as they are just bidding against a reserve price, the minimum price in which the auction house will sell the respective lot.

Many auction lots do not have more than one bidder; sure the more popular, and in this case, there were several bidders at the lower levels.

Sometimes, the auction house is placing consecutive bids on behalf of the Seller's reserve, the minimum price the Seller would agree to sell the respective Lot. Skilled auctioneers are like great Actors; they know how to achieve the most advantageous results and in this case, the maximum possible price.

A skilled auctioneer can create an Oscar worthy moment by creating the appearance there are other bidders, when often times there is none, often called "bidding off the chandelier" rather than automatic protection of the reserve. They look around the room, take breaths, pause, and in the end, make it appear like there are several bidders.

Savvy Art Collectors recognize the benefit of having relationships with Professional Art Dealers. When to stop and start bidding, is essential as determining if the Lot should at all be purchased.

According to Reyburn, Mrs. Safra "has a net worth of $1 billion, according to Forbes’s 2009 listing of the world's wealthiest individuals, and has a home in London’s Belgravia district.

"Safra is the Chairwoman of the Edmond J. Safra Foundation, a philanthropic organization that supports projects devoted to education, science and medicine, religion and humanitarian issues in more than 50 countries, according to the foundations website."

"She has a mansion, Villa Leopolda, at Villefranche-sur-Mer, near Monte Carlo. The property was valued at $500 million in 2008, making it the world’s most expensive house, according to the Guinness Book of Records. Goldschlager confirmed that Safra still owns Villa Leopolda."

Mrs. Safra also owns property in Geneva, Monaco and New York, said Forbes. In December 2009, she sold a 12th-floor apartment at 820 Fifth Ave. and 63rd Street to Kenneth Griffin, founder of Citadel Investment Group LLC, for $40 million, according to city property records."

For her sake, Mrs. Safra should not risk selling her $104 million Giacometti Bronze Sculpture anytime soon.

Robert Motherwell Foundation Authenticity Decisions Now Questioned

noreply@blogger.com (Joseph K. Levene) — Sun, 06 Nov 2011 20:59:21 PST

The Dadalus Foundation, better known as the Robert Motherwell Authentication Board, is embroiled in two lawsuits that challenge its Authentication veracity due to a series of recent flip flop Authentication positions.

These lawsuits raise serous questions about Authenticity decisions made to date by the Dedalus Foundation for Robert Motherwell Works of Art, adding instability to the vast Robert Motherwell Market.

In our March 2009 Article in The Fine Art Blog titled Dueling Lawsuits Undermine Robert Motherwell Authenticity Decisions, Joseph K. Levene raised the following serious issues concerning decisions made to date by the Motherwell Foundation:

Is the Dedalus Foundation providing impartial Authenticity decisions?
Is the Foundation acting in the best interests of Robert Motherwell?
Is The Foundation operating in the best interests of certain individual Board Members?
Are Authenticity decisions made unilaterally or by formal Committee?
How frequently does the Committee meet?
Is there a formal Authenticity procedure followed for each Work of Art that is submitted?

Lindsay Pollock has written a comprehensive update in 1/20/10 The Art Newspaper regarding "a pair of lawsuits winding through New York courts".

Joan Banach is suing to to be reinstated onto the board of the Dedalus Foundation."Banach filed an amended complaint on 10 April 2009, adding gender discrimination to a long list of allegations. The fight first went public on 25 March 2009, when Banach, a 61-year-old artist, curator and art historian involved with Motherwell since 1981, filed suit in New York State court seeking to be reinstated to the board".

Lindsay Pollock also indicates that in 2007, the Dedalus Foundation had over $59 million in assets, and continues to pay substantial six figure salaries. She indicates "Flam earned $229,336 in 2007, and executive director Morgan Spangle made $239,588, according to tax records."

The Fine Art Blog

All Facebook Users Get 15 Minutes of Fame

How Much Will Elizabeth Taylor's Celebrity Add To Her $50 Million Jewelry Collection?

Are 74 Degas Bronze Sculptures Cast in 1998 from “Recently Discovered” Plasters Worth $37 million?

Related articles

Francesco Clemente Tarot Portraits Are Hauntingly Deft

Misleading Documentation at Artnet Auctions

Cindy Sherman: The New Face For M.A.C. Cosmetics

Artnet Online Auction Attracts Multi-Million Dollar Bids

Was the $18 million Chinese Vase Correctly Documented?

Why Google Is More Jargon Than Google Simple?

Related articles

Garry Gross, Photographer, of Brooke Shields Controversial Photographs Dies

Related articles

Why Was The Andy Warhol Authentication & Antitrust Lawsuit Withdrawn?

Why Was Jasper Johns Not On ArtReview Power 100 List?

How Did eBay Enable The Convicted Banksy Art Forgers?

Buying Fine Art is Not like buying Detergent!

Related articles by Zemanta

Create Your iPhone Masterpiece 24/7 With Free MoMA App!

Rare Leonardo da Vinci & Jackson Pollock Or Sherlock Holmes Hoax?

Related articles by Zemanta

$45 Garage Sale Find Or $200 million Ansel Adams Treasure?

Related articles by Zemanta

Why Do Auction Houses Get A Free Pass On Condition?

Jasper Johns $28.6 million Flag Has Museum Exhibition

Related articles by Zemanta

Was The Robert and Ethel Scull Art Collection Museum Quality?

Marc Porter, Chairman Christie's, Spring 2010 Art Market: CNBC Interview

Related articles by Zemanta

Jasper Johns Flags Keep Making Headlines

Related articles

Why Did Plexiglass Add +$400,000 To The Price Of An Andy Warhol Jackie?

Related articles by Zemanta

Why Buying Fine Art At Auction Is Not For Amateurs?

Related articles by Zemanta

Robert Motherwell Foundation Authenticity Decisions Now Questioned

Related articles by Zemanta