The Two Hundred Thousand Dollar Dollar Bill
The role of international contemporary fine art is to act as a gauge: one that tells the collector, the artist and gallerist's where the market for fine expression stands today. The week long festivities around Art Basel Miami Beach is telling many in the industry that boundaries are being pushed, some with purpose and other's without a clue for artistry. One work worth every dollar spent was created by internationally represented artist Tom Sachs. His one dollar bill was simply outstanding. It wasn't painted on wood. It wasn't a photograph plastered on wood. It was "pyrography." Not sure what that is: consider it burning an image into the medium. How the artist creates is the artist's to know and for the collector and viewer to appreciate it's purpose.
posted by AQ Editor @ 9:41 AM
2 Comments:
The role of contemporary art is not to act as a gauge of the art market.
The art market gauges current demands for contemporary art.
You are right - one of the gauges in the art's is contemporary art. Certain collectors watch contemporary art from an investment POV. I personally enjoy art first and then consider it's pricing. In Oct/Nov, when a Van Gough painting did not sell at Sotheby's for the $35 Million that they were sure to get, various art critics and watchers said the art market had peaked and was heading south. Then Art Basel, at mostly the contemporary spectrum, comes and goes. Pricing for contemporary works remain firm and rising. The trend or preference for contemporary works vs. "traditional" works is what collectors need to recognize to keep price expectations in check.
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