Showing posts with label Art Market. Show all posts
Showing posts with label Art Market. Show all posts

Thursday, November 28, 2013

A Millions Poodle - ostentatious display of enormous wealth


Jeff Koons sculpture "Balloon Dog" was sold at auction in November at Christie's in New York for 43 million. | © Christie's Images / dpa

from the article in "Zeit Online" - http://www.zeit.de/2013/47/jeff-koons-kunstwerke

JEFF KOONS
Ein Millionenpudel
Jeff Koons’ Werke brechen alle Rekorde. Sein "Balloon Dog" brachte bei Christie's mehr als 43 Millionen Euro. Er steht für eine Kunst, die nichts mehr ist – außer teuer. 
A Millions Poodle
Jeff Koons' works are breaking all records. His "Balloon Dog" brought in more than 43 million euros at Christie's. It is an art which is nothing more - but expensive.

it is in german, so you would need to have a translator installed.






Here is my own comment regarding this:

 It is not about "Art" or the value of it, but about ostentatious display of enormous wealth. Once upon a time the oligarchs would light their cigars with hundred dollar bills and have food-fights with beluga caviar. They would buy designer shirts where one button would cost as much as another man's entire wardrobe. It is a display of wealth to the point where they are demonstrating they can and will do anything with their money. Times have changed - this isn't good enough anymore. Even Damien Hirst's diamond studded scull is passe by now, because it has material value. No, now they demonstrate their superior wealth by throwing millions at something totally banal and worthless. Something that says and means absolutely nothing other than "I paid 43 million dollars for it". A few of these purchases, if invested in Greece, could probably take the country out of junk-bond rating. Or it could bring lasting prosperity to a township in a developing nation if for example invested in a irrigation system or something similar.
Museums can no longer afford to acquire these modern 'masterpieces' - they tried in the past by deaccession some of their holdings to raise the money, but one would have to sell an awful lot of Rembrandt's and Rubens to pay for one Koons. Perhaps the ultimate thrill for one of these oligarchs would be if the Louvre put the Mona Lisa up for auction. Then they could buy it and roll it up into a fireplace log....... Koons himself is now enormously wealthy. If he would use his wealth to do some good, the crowd of the super-rich would instantly turn on him, because money made on the backs and sweat of the peons has to be wasted and thrown out the window. Or 'invested' into something that is as utterly stupid as a balloon dog.

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Thursday, December 11, 2008

Robert Hughes on Damien Hirst's upcoming Sotheby's auction | Art and design | The Guardian

And just when you thought colorful, satyrical (and in my opinion RIGHT ON) art criticism is dead, here is a well written piece by Robert Hughes:

Damien Hirst at Sotheby's auction rooms this morning to promote Beautiful Inside My Head Forever, an auction of his work

'A pirate' ... Damien Hirst at Sotheby's to promote Beautiful Inside My Head Forever. Photograph: Felix Clay

By now, with the enormous hype that has been spun around it, there probably isn't an earthworm between John O'Groats and Land's End that hasn't heard about the auction of Damien Hirst's work at Sotheby's on Monday and Tuesday - the special character of the event being that the artist is offering the work directly for sale, not through a dealer. This, of course, is persiflage. Christie's and Sotheby's are now scarcely distinguishable from private dealers anyway: they in effect manage and represent living artists, and the Hirst auction is merely another step in cutting gallery dealers out of the loop.

If there is anything special about this event, it lies in the extreme disproportion between Hirst's expected prices and his actual talent. Hirst is basically a pirate, and his skill is shown by the way in which he has managed to bluff so many art-related people, from museum personnel such as Tate's Nicholas Serota to billionaires in the New York real-estate trade, into giving credence to his originality and the importance of his "ideas". This skill at manipulation is his real success as an artist. He has manoeuvred himself into the sweet spot where wannabe collectors, no matter how dumb (indeed, the dumber the better), feel somehow ignorable without a Hirst or two.

Actually, the presence of a Hirst in a collection is a sure sign of dullness of taste. What serious person could want those collages of dead butterflies, which are nothing more than replays of Victorian decor? What is there to those empty spin paintings, enlarged versions of the pseudo-art made in funfairs? Who can look for long at his silly sub-Bridget Riley spot paintings, or at the pointless imitations of drug bottles on pharmacy shelves? No wonder so many business big-shots go for Hirst: his work is both simple-minded and sensationalist, just the ticket for newbie collectors who are, to put it mildly, connoisseurship-challenged and resonance-free. Where you see Hirsts you will also see Jeff Koons's balloons, Jean-Michel Basquiat's stoned scribbles, Richard Prince's feeble jokes and pin-ups of nurses and, inevitably, scads of really bad, really late Warhols. Such works of art are bound to hang out together, a uniform message from our fin-de-siècle decadence.

Hirst's fatuous religious references don't hurt either. "Beautiful Inside My Head Forever", the sale is titled. One might as well be in Forest Lawn, contemplating a loved one - which, in effect, Hirst's embalmed dumb friends are, bisected though they may be. Consider the Golden Calf in this auction, pickled, with a gold disc on its head and its hoofs made of real gold. For these bozos, gold is religion, Volpone-style. "Good morning to the day; and next, my gold! Open the shrine, that I may see my saint!"

His far-famed shark with its pretentious title, The Physical Impossibility of Death in the Mind of Someone Living, is "nature" for those who have no conception of nature, in whose life nature plays no real part except as a shallow emblem, a still from Jaws. It might have had a little more point if Hirst had caught it himself. But of course he didn't and couldn't; the job was done by a pro fisherman in Australia, and paid for by Charles Saatchi, that untiring patron of the briefly new.

The publicity over the shark created the illusion that danger had somehow been confronted by Hirst, and come swimming into the gallery, gnashing its incisors. Having caught a few large sharks myself off Sydney, Montauk and elsewhere, and seen quite a few more over a lifetime of recreational fishing, I am underwhelmed by the blither and rubbish churned out by critics, publicists and other art-world denizens about Hirst's fish and the existential risks it allegedly symbolises.

One might as well get excited about seeing a dead halibut on a slab in Harrods food hall. Living sharks are among the most beautiful creatures in the world, but the idea that the American hedge fund broker Steve Cohen, out of a hypnotised form of culture-snobbery, would pay an alleged $12m for a third of a tonne of shark, far gone in decay, is so risible that it beggars the imagination. As for the implied danger, it is worth remembering that the number of people recorded as killed by sharks worldwide in 2007 was exactly one. By comparison, a housefly is a ravening murderous beast. Maybe Hirst should pickle one, and throw in a magnifying glass or two.

Of course, $12m would be nothing to Cohen, but the thought of paying that price for a rotten fish is an outright obscenity. And there are plenty more where it came from. For future customers, Hirst has a number of smaller sharks waiting in large refrigerators, and one of them is currently on show in its tank of formalin in New York's Metropolitan Museum of Art. Inert, wretched and wrinkled, and already leaking the telltale juices of its decay, it is a dismal trophy of - what? Nothing beyond the fatuity of art-world greed. The Met should be ashamed. If this is the way America's greatest museum brings itself into line with late modernist decadence, then heaven help it, for the god Neptune will not.

The now famous diamond-encrusted skull, lately unveiled to a gawping art world amid deluges of hype, is a letdown unless you believe the unverifiable claims about its cash value, and are mesmerised by mere bling of rather secondary quality; as a spectacle of transformation and terror, the sugar skulls sold on any Mexican street corner on the Day of the Dead are 10 times as vivid and, as a bonus, raise real issues about death and its relation to religious belief in a way that is genuinely democratic, not just a vicarious spectacle for money groupies such as Hirst and his admirers.

It certainly suggests where Hirst's own cranium is that his latest trick with the skull is to show photos of the thing in London's White Cube gallery, just ordinary photo reproductions made into 100cm x 75cm silkscreen prints and then sprinkled (yay, Tinkerbell, go for it!) with diamond dust, and to charge an outrageous $10,000 each for them. The edition size is 250. You do the maths. But, given the tastes of the collectoriat, he may well get away with this - in the short run. Even if his auction makes the expected tonne of money, it will bid fair to be one of the less interesting cultural events of 2008.

Robert Hughes on Damien Hirst's upcoming Sotheby's auction Art and design The Guardian

And don't miss this brillant piece by Maclean Magazine's Andrew Potter: Snarkiness about sharkiness misses the point