This Week in the Art Market – Friday 15th December 2023
Sold Out Exhibition for Danny Minnick with Asian Debut
Making his Asia exhibition debut in Singapore, Danny Minnick wowed fans and collectors alike as he hosted meet and greets, book signings and then showcased his talent with a live art performance painting the latest Super SUV from Lamborghini, the Urus S.
A stunning spectacle drew large crowds who caught a glimpse of a master at work.
The 18. Workz exhibition closes on Friday 15th December and can be viewed exclusively at Art Works Gallery in One Holland Village.
Ultra-Contemporary Artists Dominate 2023 Art Market
An article by Artsy has found that ultra-contemporary artists (artists under 40) are the biggest winners of the 2023 art market. Based on the number of inquiries for artists’ works listed on Artsy, 19 of the 20 most in-demand artists were born after 1975. This includes Chinese artist Yuan Fang, who enjoyed a strong auction debut this March, as well as British painter Francesca Mollet whose paintings have already reached six-figure prices. Female ultra-contemporary artists are also experiencing greater representation compared to their male peers, making up 21 of the top 50 works by ultra-contemporary artists this year.
See more: https://www.artsy.net/article/artsy-editorial-art-market-recap-2023
Optimistic Sales at Art Basel Miami Beach
The annual Art Basel Miami Beach wrapped up its weeklong run last Sunday with remarkably strong sales, forecasting an optimistic future for the art market. Hauser & Wirth reported the most expensive sale of the fair, selling Philip Guston’s Painter at Night (1979) for $20 million. George Condo was also extremely popular, selling his 2023 painting Smiling Aristocrat for $2.35 million and another two works for $600,000 apiece. Another painter, a Minimalist named Robert Ryman, sold three canvases from 1961-64 at $2-3 million each.
See more: https://www.artsy.net/article/artsy-editorial-sold-art-basel-miami-beach-2023
Taiwanese Gallery Sets Sights on World Stage
Founded by Thomas Lee in 1982, Asia Art Center is a Taiwan-based gallery traditionally invested in representing prominent modern artists from China and Taiwan, such as Yang San-Land and Hung-Jui Lin, as well as the influential Ton Fan Group and Fifth Moon Art Group. Now, the founder’s two sons have carried on his legacy, expanding the gallery’s operations to Beijing by opening a second gallery space in the city’s 798 Art Zone. They have also revolutionised the gallery’s curatorial vision by seeking out emerging artists from the West, capturing the attention of younger, more cosmopolitan art collectors, becoming a beacon of innovation and multigenerational dialogue across Asia.
Christie’s Asia President Weighs In on AI Art Debate
The issue of copyright in AI art is one that has gathered a lot of momentum in recent weeks, with artists, lawyers and even the US Supreme Court weighing in on the matter. Recently, Francis Belin, Christie’s president of Asia Pacific, publicly argued in favour of AI art, stating: “I struggle logically, and struggle to understand how using a large dataset, which is the whole point of AI -- how will you be able as the owner of a certain piece of intellectual property to claim your rights?” He compared AI art to the rest of “art history”, in which artists have always drawn inspiration from other places to create their works.
Phillips Appoints New Head of Asia Department
International auction house Phillips has announced its ambitions for Asia by revising several new senior leadership positions; this includes industry veteran and international specialist Meiling Lee being appointed to the head of the Asia apartment, taking over from Jonathan Crockett in January 2024. Phillips has also promoted Lihua Tung to the head of department of 20th-Century and Contemporary Art in Hong Kong; Tung previously held the role of director of David Zwirner in Hong Kong before moving to Phillips. However, Phillips is not the only auction house harbouring ambitions for Aisa; both Sotheby’s and Christie’s are slated to open new headquarters in Hong Kong in 2024.
See more: https://news.artnet.com/market/phillips-asia-2403107
Ke Dong is a seasoned art writer and current double major in English Literature and Art History at NTU. Having worked with esteemed art institutions in Singapore, Ke Dong now regularly contributes his keen research skills, adept writing abilities and passion for art to the Art Works discourse.