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THIS WEEK IN THE ART MARKET - FRIDAY 21ST FEBRUARY 2025
Art Market News
FRIEZE LOS ANGELES RETURNS AMID WILDFIRE AFTERMATH AND DEBATE
Frieze Los Angeles is set to take place from February 20-23 at Santa Monica Airport, featuring over 95 galleries from more than 20 countries. This year’s edition, occurring in the wake of the devastating Palisades and Eaton wildfires, has sparked debate over whether the fair should proceed. Some collectors and dealers have raised concerns about the ethical and environmental implications of holding a high-profile art event in a city still recovering from disaster. Others argue that the fair plays a crucial role in supporting the local economy and artistic community. While some galleries have withdrawn, citing financial and logistical concerns, others believe that showing up for the fair is an important gesture of solidarity.
Despite the controversy, Frieze continues to integrate relief efforts, with galleries like Victoria Miro donating proceeds to wildfire recovery funds. Notable highlights include a large-scale installation by the late Chris Burden, a pop-up by South L.A. artist Lauren Halsey, and a site-specific piece by Betye Saar. The fair also maintains its focus on emerging talent through the Focus section and the Frieze Impact Prize, awarded this year to street artist Victor “Marka27” Quiñonez. While uncertainty looms over attendance and sales, many in the L.A. art world see this year’s Frieze as a testament to resilience and renewal.
HONG KONG’S M+ AND NEW YORK’S MOMA FORGE STRATEGIC PARTNERSHIP
After a year of discussions, Hong Kong’s M+ and New York’s Museum of Modern Art (MoMA) have formalised a partnership to collaborate on exhibitions, research, conservation, and donor development. This marks MoMA’s first collaboration of its kind with an Asian institution and is the most extensive international agreement M+ has signed to date. The partnership comes as M+ faces financial pressures, with rising operational costs and concerns over funding sustainability. The West Kowloon Cultural District Authority (WKCDA), which oversees M+, has warned that its $2.75 billion endowment could run out without external support.
Outgoing MoMA director Glenn Lowry highlighted the opportunity to explore new curatorial directions and expand audience engagement globally. The alliance is part of a broader effort by the WKCDA to bolster international collaborations, having already secured agreements with institutions like the Centre Pompidou, Tate, and the Picasso Museum.
MARK HOPPUS TO AUCTION RARE BANKSY PAINTING AT SOTHEBY’S
Blink-182 cofounder and bassist Mark Hoppus is set to auction a rare Banksy painting, Crude Oil (Vettriano), at Sotheby’s London on March 4. The work, estimated to fetch up to £5 million, is a reimagining of Jack Vettriano’s The Singing Butler and was first exhibited in Banksy’s 2005 “Crude Oils” show. Hoppus, who acquired the piece in 2011, described it as a cherished part of his family’s life, having been displayed in both their London and Los Angeles homes. Proceeds from the sale will benefit the California Fire Foundation and two Los Angeles-based medical charities. Sotheby’s Europe chairman Oliver Barker emphasized the shared rebellious spirit of punk rock and street art, stating that the work embodies the ethos of both movements. The auction will also feature works by Picasso, Yoshitomo Nara, Anthony Gormley, and Roy Lichtenstein.
CAMILLE CLAUDEL BRONZE DISCOVERED IN PARIS APARTMENT SELLS FOR €3.1M
A long-lost bronze sculpture by Camille Claudel, L’Age Mûr (The Age of Maturity), sold for €3.1 million (€3.7 million with fees) at auction in France, exceeding its pre-sale estimate by over 50%. The sculpture, depicting a man torn between two women, is believed to be an allegory of Claudel’s tumultuous relationship with Auguste Rodin, which led to her psychiatric internment. This sale marks the second-highest auction result for the artist, following the £5.1 million record set in 2013 for La Valse (The Waltz) at Sotheby’s London. The bronze, cast in 1907 as part of a limited edition of six by art dealer Eugène Blot, was rediscovered in an unoccupied Paris apartment last year. While the buyer’s identity remains undisclosed, experts note that Claudel’s market continues to rise, though her works still lag behind Rodin’s, which command prices of up to €15 million.
GETTY MUSEUM ACQUIRES ITS FIRST AI-GENERATED PHOTOGRAPH
The Getty Museum has made history by acquiring its first artificial intelligence-generated photograph, Cristian en el Amor de Calle (2024), by Costa Rican photographer Matías Sauter Morera. The image, which portrays two young Latino men in a bar or café, explores the secretive queer history of pegamachos—cowboys from Costa Rica’s Guanacaste Coast known for their hidden same-sex relationships. Due to the community’s need for anonymity, Morera used AI to construct fictionalized subjects rather than depicting real individuals, blending multiple AI models in Adobe Photoshop to create the scene.
The acquisition was made by Getty photography curator Paul Martineau, who considers the piece a photograph rather than solely an AI work. The museum’s decision comes amid broader debates about AI’s role in art, with many artists voicing concerns over the ethics of AI-generated images. Cristian en el Amor de Calle will be featured in Morera’s solo exhibition Pegamachos at Craig Kroll Gallery from March 22 to May 3, 2025, and in the group show The Queer Lens: A History of Photography at the Getty Museum from June 17 to September 28, 2025.
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