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THIS WEEK IN THE ART MARKET – FRIDAY 5th JULY 2024
Art Market News
FAREWELL TO WEST BUND: SHANGHAI’S ART HUB DISPERSES AMID REDEVELOPMENT
Shanghai's West Bund, a prominent arts district for the past decade, is undergoing a major transformation as tech firms move in, displacing galleries and artists. Notable galleries such as ShanghArt, Don Gallery, and Aike Gallery have bid farewell, marking the end of an era. The district, once vibrant with the West Bund Art and Design fair and renowned museums like Yuz Museum, is now overshadowed by high-tech industrial parks. The Covid-19 pandemic and economic uncertainties have exacerbated the shift. As the arts community searches for new locations, potential hubs like Suzhou Creek and the central Bund area are emerging, though relocating remains a costly challenge. The art scene in Shanghai faces a period of uncertainty and transition as it adapts to these changes.https://news.artnet.com/market/west-bund-art-district-redevelopment-2504664
BANKSY CONDEMNS DETENTION OF MIGRANT RESCUE BOAT AMID CRITICISM
Renowned British street artist Banksy has responded to criticism from UK Home Secretary James Cleverly regarding his latest artwork highlighting the migrant crisis. Banksy's inflatable boat, filled with dummies representing migrants, was unveiled at Glastonbury Festival. Cleverly called the piece "vile and unacceptable," accusing it of trivialising the deadly migrant crossings.In a pointed Instagram post, Banksy defended his work and revealed that the real migrant rescue boat he funds, the Louise Michel, had recently saved 17 unaccompanied children in the Mediterranean. Italian authorities detained the boat, a move Banksy deemed “vile and unacceptable.”
Cleverly's comments to Sky News suggested Banksy's artwork mocked a serious issue, blaming the Labour party for hampering efforts to address migrant crossings. The Louise Michel crew reported the boat’s detention after bad weather diverted it to Lampedusa, criticising the EU's restrictive stance on civil sea rescue operations.
https://www.theartnewspaper.com/2024/07/03/banksy-hits-back-at-uk-home-secretary-saying-the-detention-of-his-migrant-rescue-boat-in-italy-is-vile-and-unacceptable
STOLEN TITIAN MASTERPIECE FETCHES RECORD $22 MILLION AT AUCTION
Titian’s Rest on the Flight into Egypt (ca. 1510), a small Renaissance painting with a rich history, sold for a record-breaking £17.6 million ($22.1 million) at Christie’s Old Masters sale in London on July 2. The Biblical scene, depicting the Holy Family in the wilderness, measures just 18 by 25 inches and is renowned for its intimate size typical of Titian’s early works. This sale surpasses the artist’s previous auction record of $16.9 million, set in 2011.
The painting’s provenance is illustrious, having passed through the collections of emperors and archdukes. It was looted twice: first by Napoleon’s troops in 1809, and more recently in 1995, when it was stolen from Longleat, the estate of the Marquess of Bath. The work was recovered in 2002 at a London bus stop, wrapped in a plastic bag, following a £100,000 reward.
https://news.artnet.com/market/titian-sells-for-a-record-22-million-2507972
NAC’S INDIGENOUS ART MARKET: A BEAD-LOVER’S DREAM
The National Arts Centre (NAC) in Canada hosted its ninth annual Indigenous Art Market as part of its 2024 National Indigenous History Month celebrations. Held on June 15 in the Gail & David O’Brien Atrium, the event featured over 40 vendors showcasing beadwork, paintings, jewellery, and more. The market provided a platform for artists like Chelsea Lackey, who shared her journey of reconnecting with her heritage through beadwork, and veteran beadworker Shaye, who celebrated the market’s growth and community spirit. Despite limited marketing, the event was a success, highlighting the importance of in-person interactions and community support. The growth of fairs and markets that support traditionally overlooked cultural and societal demographics mirror the changing attitudes of art collectors at all levels.
https://thefulcrum.ca/arts/the-nac-hosts-its-ninth-annual-indigenous-art-market/
ART HIGHLIGHTS TO SEE BEFORE AND AFTER THE TOKYO GENDAI ART FAIR
As the Tokyo Gendai Art Fair attracts art enthusiasts from around the globe, the city offers a rich array of exhibitions that are a must-see for visitors. Here's a guide to the top shows that span modern to contemporary art, with a strong focus on sculpture:
Artizon Museum: Constantin Brancusi Start your art journey with the Artizon Museum’s exhibition of Constantin Brancusi. This comprehensive survey showcases Brancusi's evolution from Rodin's influence to his iconic works like "The Kiss" and "Bird in Space." The exhibition also includes a recreation of Brancusi's Montparnasse studio, offering a profound introduction to modern sculpture.
Azabudai Hills Gallery: Alexander Calder Next, head to the Azabudai Hills Gallery for "Calder: A Japanese Effect." Curated by Calder’s grandson, Sandy Rower, this exhibit features Calder’s mobiles and an unexpected series of animal drawings. The innovative exhibition design by Stephanie Goto enhances the experience with black mobiles against black ceilings and walls.
BLUM: Thomas Houseago At BLUM, formerly known as Blum & Poe, explore "MOON," an exhibition by Thomas Houseago. Known for his sculptural work, Houseago presents pieces that recall Brancusi’s influence, such as an abstract egg-like shape and an owl sculpture. His paintings, though less impactful than his 3D works, add a dramatic touch to the exhibit.
Tokyo National Museum: Rei Naito Rei Naito’s minimalist works at the Tokyo National Museum demand attentive viewing. Her delicate installations, ranging from pompoms to glass bubbles, create a meditative space that immerses visitors in her imaginative world. Naito’s ability to balance minimalism without veering into twee territory is truly remarkable.
SCAI The Bathhouse: Mariko Mori Mariko Mori’s complex project at SCAI The Bathhouse blends crystals and spiritualistic painting. Known for her self-portraits in urban environments, Mori’s current work is immersive, featuring augmented reality appointments where she appears as a futuristic priestess.
Mori Art Museum: Theaster Gates Finally, visit the Mori Art Museum for Theaster Gates’ first solo exhibition in Japan. Gates explores "Afro-Mingei," combining Japanese folk art with African American cultural identity. Highlights include collaborative ceramics with Japanese potter Tani Q, an elaborate wooden bar, and a soundtrack that brings the exhibit to life.
These exhibitions offer a diverse and enriching art experience in Tokyo, complementing the excitement of the Tokyo Gendai Art Fair.
https://www.artnews.com/art-news/artists/tokyo-japan-art-shows-to-see-gendai-fair-1234711460/
Christina Park, hailing from South Korea and Shanghai, is currently undertaking a degree in psychology with a minor in business at Singapore's prestigious NTU. Her profound understanding of human behaviour and cognition, enriched by her international experiences, brings a unique and valuable perspective to Art Works. Christina excels in analytical writing, creative problem-solving, and rigorous research, driven by a deep-seated passion for enhancing the human experience.