Art Basel is always interesting to attend. While art collecting is not my primary interest – I am curious about the art market and follow it for several reasons.
One- the art market moves in a similar pattern to other collectible markets- vintage watches, vintage cars and photography. They are all booming right now and prices are near record highs.
Secondly the Art market is interesting to follow – just because of the enormous financial sums involved. Experts involved in art often argue that this market will hold up better than other collectible markets – and I want to see if this is true. Art does have two strong factors that help it: It is cross-cultural (i.e all cultures appreciate art – not the same with vintage watches and cars) and secondly Art is driven both by male and female collectors (something that does not apply to classic cars and only modestly to vintage watches).
Third I follow the Art market due to a personal interest – I am still expanding my collection and am looking to buy some pieces. I am by no means an expert in Art and I indeed cannot tell you what period is important for Picasso and what to look out for in buying a Warhol.
This is just a blog post to look at some art I found interesting and is for those where not at Art Basel. Warning: I am mostly showing established artists or ‘park avenue’ art – I did not attempt (probably I should have) to take pictures of emerging artists.
Before we get started – one more comment: There has been talk about the Art market experiencing prices that are not sustainable. I share that view.
I think there is too much money going into the art market and most of it is by non-collectors but individuals looking to make money. Also some experts are talking of money laundering taking place within the art market. I also think this is happening. I am interested to see what happens when governments around the world – take an increasing interest in finding out who is actually behind the art being bought.
I think down the road there will be increasing regulation facing the art market – and prices will correct as a result.
Lets start with ‘Art unlimited’ which mostly had installation art. This set-up below was interesting. A tree with plastic bags in different colors. I thought it was original. The artist was Pascale Martines- ‘plastic tree’.
Going over to the established tradition art- this Jackie by Warhol from 1967 is desirable because she is smiling (non-smiling Jackie’s are less valuable). There are many non-smiling Jackies.
Next a well known subject that Warhol like to use. The Soup can. This was a very large work (in size) and the asking price was $5m. Gagosian Gallery was showing this.
Next was a self portrait of Andy Warhol which I personally don’t care for. It was worth taking a picture of though.
Art Basel was not only about Art but also furniture at the Design Miami. Here a beautiful desk by Boyer from 1970. Masculine and dominant- it is a piece of art. This desk was commissioned by Elie de Rothschild who headed the French banking dynasty and was also in charge of the Chateau Lafite winery.
As you can imagine Elie de Rothschild commissioned only the best to work for his bank. When it came to his personal desk, of course he wanted a masterpiece. This desk exudes power, wealth and elegance – all three attributes which Elie de Rothschild had in abundance presumably.
The desk was an absolute dream with the wood in completely original condition. It is a piece of art. But the asking price of €150′ooo is unrealistic unless the buyer has a large office (desk is over 2.50m long) or a personal connection with Rothschild.
The drawers -itself a piece of art- were made of brushed steel. The desk is known as the ‘waterfall’ desk as the wood and form flows from the top down to the bottom.
If I were to buy the desk for my office this is what I would hang behind it. A large oversized (over 2.05m large) Rothko from 1955. I don’t know the price of this work, as this piece was hid behind a corner at the Nahmad gallery at Art Basel, but I assume it was among the most valuable works of art being offered at Art Basel (my estimate is $25-40m). I first discovered Rothko back in 2001 when the Beyeler did a special exhibition on Rothko. I immediately was attracted by his works.
Another piece of Art that I found appealing was this rather ‘simple’ Picasso. Simple because Picasso can often be overwhelming in my view. I also like the colors. This work is from 1967.
We end with my favourite topic, vintage watches. They were two well known dealers at the design Miami which was part of Art Basel. Here a very nice Rolex 5508 submariner from the end 1950s with gilt dial.
