With Monday’s record -breaking $ 195 million sale of Andy Warhol’s “Shot Sage Blue Marilyn” by Larry Gagosian, the renowned art dealer and collector has garnered global media attention.
Even if Gagosian did not speak publicly about plans for the 1964 silkscreen on Marilyn Monroe’s face, Gagosian chief operating officer Andrew Fabricant spoke of the now -burning art market, the influence of the Asian market and how art and fashion continue to come together.
Despite dozens of cities in mainland China including Shanghai facing lockouts again due to China’s zero COVID-19 policy, there is still a huge appetite for art in Asia, especially in short- and half -income pieces, according to Fabricant. He said, “People who have ways out there are just hiding their heads. They don’t want any publicity noise about buying more expensive photos these days. It’s interesting, because Warhol doesn’t even exist what bidders in Asia.And despite some of the material in the early stages of the Ammann sale, there was a lot of bidding in Asia but at a lower price point.
While the appetite remained, it was read in the air of politics and struck by “what’s going on in the equities market to some degree,” Fabricant said. As such, the loss of the high end of the spectrum is “definitely noticeable.” Uncertainty about what regime changes will come is not the only reason for low spending. “It’s also hard to get money out of China,” he said.
However, Thursday’s sale at Christie’s, which includes three Claude Monet paintings from the Anne H. Bass collection, will present an interesting test, Fabricant said. “It’s an instant masterpiece collection for someone with a particular way to buy three real Impressionist masterpieces,” Fabricant said. “That’s the traditional domain of Asian clients going back to the ’80s, when the Japanese bought into the Impressionists.”
Regarding the overall strength of the art market, Fabricant noted how “art has always been a very good fence against inflation and now we are running an 8 percent inflation rate in the country. Most of the art, especially already blue-chip art, there are no wild changes that you see on the Nasdaq, for example, ”he said.
If someone bought a Mark Rothko painting for $ 40 million, it might already be worth between $ 30 million and $ 35 million, but that’s not the same delta, if someone bought Netflix last year and had to to sell it this year, Fabricant said. “I don’t see changes in high-end, quality material. I see changes in a lot of assumptions, young things coming and going with frightening frequency.”
Regarding the attention the Gagosian gallery received due to the sale of Marilyn, Fabricant denied that it was only part of the work, mentioning how Gagosian sold the painting “Marilyn”, one of five in a Warhol series. While Gagosian personally has a long history of painting, his gallery has a long history with Warhol and the Andy Warhol Foundation. Gagosian’s second show in New York was Warhol’s “Most Wanted Men” exhibit.
Kim Kardashian’s Met Gala choice of the vintage dress famously worn by Marilyn Monroe to sing “Happy Birthday” to President John F. Kennedy caused international headlines. Did that work to affect Warhol’s sales this week? “Not in the art world,” Fabricant said.
Before Warhol’s sale on Monday broke the previous American record – a canvas of an untitled Jean -Michel Basquiat skull that sold for $ 110.5 million five years ago – the two later were artist remains a lasting power in the art scene. The “Basquiat l King Pleasure NYC” exhibit intrigued visitors to see 200 works on display to the public for the first time. Fabricant said Warhol’s longevity was “guaranteed. There is no other artist whose influence on young artists and painters is so widespread. The young people at the art school did not look up to Roy Lichtenstein and Claes Oldenburg. They look at Warhol. Every taboo, every medium – Warhol explodes and explodes, whether it’s film, silkscreen, repetition of images, social commentary, the idea of getting rid of images of destruction, race riots and all that. There is nothing like Warhol. ”
Concerning Basquiat, Fabricant said, “As they said of Lincoln, ‘Lincoln knew when you were going to die. He couldn’t have lived through Reconstruction.’ Basquiat died at the age of 27, when his career was slowing down.After his death, his works would be sold for free.The last show he performed was at the Vrej Bagoomian Gallery [‘Riding with Death’ in 1988] on Broadway less received. It’s not good to sell it. His verification was burned after his death.
Asked why Basquiat is buzzing now, Fabricant said, “He’s young, Black, very good looking, charismatic and he has a gift. But if the gift is still alive, [after] His death at the age of 27, is a mystery unknown. How did that language come to be? ”
Warhol is always changing and even though many people didn’t like his later work, now it’s gaining a resonance of its own, according to Fabricant. It was especially inspired by the Whitney Museum of American Art’s “Andy Warhol: From A to B and Back Again” exhibit created by curator Donna De Salvo a few years ago, she added.
“Warhol is always changing, changing, evolving. If Basquiat can, can he? That’s a big mystery. It’s never going to be answered.”
Fashion, unlike top-shelf art, has fits and started in the last two years. Fashion is expected to fit more closely into the art world in the coming years, and that “benefits each other,” Fabricant said. “But art is not fashionable. Art is not utilitarian. It can be co-opted. It’s like the difference between art and architecture. One is utilitarian, the other is not. And if art has a purpose other than being artistic, it is usually in a small form.
Speaking of the inevitable combination of art and fashion, he described that as “natural selection. You have [Bernard] Arnault bought Tiffany’s and then bought a painting at Basquiat and later made a limited Patek Philippe [edition] watch first seen on Jay-Z’s wrist. The interaction of art and commerce and fashion is inevitable. It’s just accelerated by consolidating all of these issues, whether it’s Kardashian, Arnault or the Gagosian Gallery with 19 galleries. It’s more, more, more. It is also mutually beneficial. ”
The alignment can also be seen with mainstream brands such as Uniqlo, which has partnered with the Louvre, Museum of Modern Art, and artists such as Takashi Murakami, Jeff Koons, Kaws and Daniel Arsham. “Perfect. And that’s a good thing. If some 12-year-old gets Warhol, Basquiat or [Keith] King T-shirt and began to explore beyond the graphic quality of wearing a shirt, which would lead to greater investigation and enthusiasm on the part of everyone. That’s great democratization of art, ”Fabricant said. “Warhol has always wanted to. He was the first guy to want that: where everyone had a chance at fame and everyone could understand it. Warhol seems to be the first painter since the Renaissance, where if you walk into a church in Florence in the 15th century and see a Nativity scene, you get to know everyone in that Nativity scene because Catholicism is so universal in Italy. With Warhol, it’s the same thing to have all of these images that everyone can respond to and understand without the baggage of explaining the world of art and art history. That was his main gift. He is understood by all— [snapping his fingers for effect] boom. Soup can – boom. It’s like Madonna. Boom – you understand what it is. ”