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THIS WEEK IN THE ART MARKET - FRIDAY 29TH NOVEMBER 2024




Art Market News

VENICE BIENNALE REVEALS 2024 VISITOR FIGURES

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As this year’s Venice Biennale comes to a close, the official visitor figures have been released. Titled Stranieri Ovunque-Foreigners Everywhere, around 700,000 visitors attended across the 7 months, with 30% aged under 26. 59% of attendees came from abroad with the remaining 41% from Italy. One notable statistic from this year’s biennale was the 67% increase in visitors from underrepresented groups, which perhaps highlights the increasing accessibility of the biennale. In addition, more than 1,800 school groups attended and the press and VIP previews attracted 27,966 visitors. Alongside the ticket sales, the organisers this year increased the social media activity, garnering more internet recognition than previous years. The curator of this year’s biennale, Adriano Pedrosa, shared in a statement that, “It is always melancholic to see an exhibition of this magnitude come to an end, yet in some ways the journey continues, and I am now looking forward to the afterlife of Foreigners Everywhere, especially regarding the understanding, reception and visibility of artists from the Global South, as well as indigenous artists, queer artists, self-taught artists and 20th-century figures from Africa, Asia and Latin America.”

 

INSIDE NEW DIRECTOR BRIDGET FINN’S VISION FOR ART BASEL MIAMI BEACH

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First established in 2002, Art Basel Miami Beach has become a prime fixture in the art world calendar. This year, the fair is under the directorship of Bridget Finn and will be presenting 286 exhibitors. Finn herself is an established name within the industry, having had experience at tastemaker galleries like Anton Kern Gallery and Mitchell Innes & Nash. In 2017, Finn also co-founded Reyes | Finn, a contemporary gallery in Detroit with business partner Terese Reyes. Leading on from this Finn discusses her transition into the world of art fairs and the ways in which her gallery background has informed her new role as director. She delves into the programs available alongside the fair, aimed at increasing engagement; for example, the Conversations program focuses on informing people on critical topics within the art world currently. As for this year’s fair, Finn hopes that it will reflect the critical geography of Miami, as a nexus between North, South, and Central America. Overall, in terms of Finn’s goals for the show, these include cementing structures of support to bring to both emerging collectors and to galleries, providing a guide for new buyers and increasing the accessibility of the art world. 

 

Bridget Finn, Director of Art Basel Miami 

 

CARAVAGGIO PAINTING, UNSEEN FOR DECADES, GOES ON DISPLAY

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From his appointing last January, Thomas Clement Salomon, director of Italy’s National Galleries of Ancient Art, has made it his aim to bring Portrait of Monsignor Maffeo Barberini (c. 1598) to the public. The work had remained in a private collection in Florence for decades, but Salomon’s plan finally came into fruition last Friday at the Palazzo Barberini where the painting will be display until the 23rd of February 2025. The Palazzo Barberini was built by Barberini after he became Pope Urban VIII in 1623. The work has gained recognition as one of Caravaggio’s few surviving portraits and has been long out of reach for museums, with only a handful of experts able to see it. Now the portrait will be available for study, with many questions still remaining about the provenance of the work. The painting is believed to be of Barberini, aged around 30, having received a prized position at the Vatican. Salomon’s dream now is for the museum to be able to purchase the work, which he has acknowledged is an immense challenge in on itself.

 

Caravaggio (b. 1571 ), Portrait of Monsignor Maffeo Barberini, c. 1598

 

COLOMBIAN ARTIST MARÍA BERRÍO JOINS HAUSER & WIRTH

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Colombian artist María Berrío has joined Hauser & Wirth, who will be opening a solo exhibition by the artist in New York next autumn. The mega-gallery will be co-representing Berrío with Victoria Miro, the contemporary art gallery. Hauser & Wirth will also be showcasing Berrío’s Distant Gods and Aging Suns (2024). At the upcoming Art Basel Miami Beach this December. The work consists of layers of Japanese paper traced over with watercolour, graphite, and ink, encapsulating the artist’s signature collage style. Many of her pieces focusing on women, particularly with references to her upbringing on a farm just outside Bogotá and the urban environment of her current home in New York. In addition, the artist often draws inspiration from childhood memories, dreams, and mythology, creating landscapes that reflect aspects of south American folklore. Hauser & Wirth’s gallery president, Marc Payot, notes that Berrío is part of a generation that brings ‘fresh energy’ to painting.

 

Maria Berrío (b. 1982), Distant Gods and Aging Suns, 2024

 

HUW LOUGHER OF LOUGHER CONTEMPORARY ON ART MARKET TRENDS AND ADVICE FOR NEW COLLECTORS

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Huw Lougher established Lougher Contemporary in 2015, with the aim to create a space for collectors, regardless of their stage in their collecting journey. Lougher Contemporary specializes in contemporary blue-chip editions and private sales, with Lougher himself providing insight into the art market at large. With recent volatility in the art market, particularly since 2020, Lougher shares his insights on recent trends and his advice for collectors in this current climate. Despite a drop in the contemporary art market after the boom between 2020 and 2022, Lougher remains optimistic, especially with regards to the commitment of passionate collectors. He has observed that many are returning to blue chip works and editions, as they are deemed as safer investments. In addition, prices appear to be stabilizing, particularly for well-established names. There has also been a surge in demand for editions, this can be seen notably in the sub-£10,000 range for artists like David Shrigley, Tracey Emin, Banksy, and Damien Hirst. Lougher ends with his top tips for collectors, from making sure to define collecting goals and motivations from the outset, to honing research skills and working with trusted advisors.

 

KATHLEEN RYAN, SCULPTOR OF DECOMPOSED FRUIT, JOINS GAGOSIAN

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Kathleen Ryan, a Californian artist who uses rotting fruit in sculpture as a reflection on American excess, has joined mega-gallery Gagosian. Her debut exhibition will be held in 2026. Ryan is best known for her Bad Fruitseries, a project started in 2018, that explores the dichotomy between opulence and decay; the works are inspired by European vanitas painting and the tradition of pin-beaded fruit. Ryan’s works are currently on show at the Institute of Contemporary Art San Francisco until February 2025, including Screwdriver (2023), a sculpture of a rotting orange rind, made from the trunk of a classic car, topped with a cocktail cherry and patio umbrella. Using the process of rotting fruit to guide the imagery of her sculptures, Ryan creates a simultaneous existence of life and artifice within the same object, thus invoking feelings of both disgust and intrigue. The artist’s first museum survey opened at Hamburger Kunsthalle this year and she will be featured at the Kistefos Museum in Norway next year.

 

Kathleen Ryan (b. 1984), Screwdriver, 2023




Published on November 29, 2024
Jordan Tan

Jordan Tan holds an MA in History of Art from the prestigious Courtauld Institute of Art. With a passion for fine art and the art market, Jordan plays a key role at Art Works by researching and interpreting trends across the primary and secondary markets, delivering valuable insights and business intelligence for the fine art department.

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