Art Basel 39: Wrap Up

Once again, I apologize for not having updated over the weekend. There are some places in this world where internet does not exist, the house I stayed at for the weekend being one of them.

So, a summary of the eventful week in Basel:

• American buyers were not prevalent thanks to the weak dollar. However, dealers commented on the number of Russian buyers. And American dealers reported selling to more Europeans thanks to the lack of Americans.
• Roman Abramovich purchased a Giacometti bronze entitle “Femme de Venise I” (1956) for $14 million from Krugier.
• Dealers brought good quality pieces to show and reported that buyers were interested in blue-chip artists.
• As auction prices soar, many collectors commented on the reasonable prices in the primary market.
• Works did not fly off the walls as soon as the vernissage opened, as has been the trend for the past few years. Instead, sales were paced and carefully considered, though still strong.
• The print galleries reported good sales, especially those who branched out into editioned sculptures.
• Brad Pitt dropped close to $1 million at Design Miami/Basel, with Mr. Abramovich following close behind. The two were seen chatting in the VIP lounge of the fair. In other star news, Sofia Coppola and Owen Wilson were at the vernissage of Art Basel 39.
• Takashi Murakami was spotted all around Basel in the limited time he was there. From Art Unlimited at the main fair to the Volta Fair to a dinner held in his honor. He was particularly interested in adding to his contemporary art collection, mentioning an interest in works by Anselm Reyle and German art of the 1980s.

Art Basel 39: Murakami Madness

As a bit of an expert in the Japanese contemporary market, I was very content to learn that Takashi Murakami was not only at Art Basel and purchasing works, but also that his own works are selling well.  It seems Mr. Murakami purchased a self portrait sculpture by Julian Hoeber for $15,000 from Blum & Poe, the same gallery that represents Mr. Murakami in Los Angeles.

The “Unlimited” section of Art Basel is showcasing Mr. Murakami’s “Oval Buddha”, an 18 1/2 ft, platinum-clad sculpture of a janus-faced Oval (one of Mr. Murakami’s repeated characters, and also possibly a self-portrait) in the lotus position.  The work sold for $8 million to an unidentified buyer.  Another edition of “Oval Buddha” is currently on display in the 590 Sculpture Garden in Manhattan, as it is too monumental to be displayed with the rest of the ©Murakami exhibition at the Brooklyn Museum of Art. Blum & Poe were also showing a small version of the sculpture in Basel.  Cast from silver and on a marble plinth, the smaller edition sold for $2 million soon after the show opened.

Oval Buddha at LAMOCA

And just a note to say that I will be without internet for a few days (the thought it making me have a small panic attack. The whole point of going away for the weekend is to relax, and instead I’m making myself freak-out.).  So, expect to see updates return either Sunday night or Monday.

Art Basel 39: Satellite Fairs

At the Design Miami/Basel fair, Brad Pitt has racked up a bill of nearly $1 million. Mr. Pitt’s purchases range from designs by Ron Arand to Max Lamb. Roman Abramovich isn’t far behind Mr. Pitt in terms of money spent at the design fair, having bought 12 works of vintage Danish furniture by Poul Kjaerholm at the Galerie Philippe Denys (Bruxelles) stand. Mr. Denys said that both Mr. Pitt and Mr. Abramovich were interested in historic design pieces. The two collectors were also seen chatting in the VIP lounge.

SCOPE is in a new venue for it’s return to Basel. The 60,000 sq. ft. glass pavilion on the Rhine holds exhibition space for 85 galleries from around the world. This year SCOPE is presenting “By All Means”, a showcase of emerging Indian artists curated by Thomas Erben.

Art Basel 39 Continues

Acquavella Galleries, the worldwide agent of Lucien Freud, sold a painting by that artist for $12 million at Art Basel.  However, the gallery is staying silent on who the buyer is, saying they’ve been sworn to secrecy and will not even reveal the nationality of the buyer.

Bischofberger of Zurich has placed a reserve on Van Gogh’s 1887 “Vue de la chambre de l’artiste, rue Lepic”.  The painting last sold at Christie’s New York in May 2007 for nearly $5 million with premium.

Zurich and London based Hauser & Wirth is reporting that they have sold three sculptures by Paul McCarthy for $1.8 million each.  Gallery director Iwan Wirth said that “The opening of Art Basel is one of the few situations where dealers can recreate the competition of an auction.”  Wirth also commented on the lack of American buyers, but noted, “This is probably our best ever Art Basel…Although we’ve sold less to Americans, we’ve met a lot of new buyers.”

Art Basel 39: Vernissage

Well, it’s 4 June, meaning I’m another year older and Art Basel 39 is officially open. According to The Art Newspaper, the galleries were all happy to see big-name buyers such as Roman Abramovich and Sheikh Saud Al-Thani at the vernissage last night. Abramovich, who spent $120 million on a Bacon and a Freud at the spring contemporary auctions, is not known to have ever bought outside of auction, so many galleries seemed excited to see him. Brad Pitt was also at the vernissage in a trilby hat, but the galleries were more impressed with the big spenders like Sheikh Saud Al-Thani. The lack of American buyers was obvious last night, with even the very rich grumbling about the weak dollar. However, collectors seem more willing to buy from dealers at the moment as the gap between auction prices and retail prices has widened. PaceWildenstein sold a painting by Zhang Xiaogang for under $1 million last night, a steal when the artist’s $6.1 million record auction price is taken into consideration.

Abramovich at the vernissage.

Photo courtesy of www.theartnewspaper.com