Artelligence Podcast

Dane Jensen just opened his own art advisory firm in Los Angeles. He has worked in the art and auction industry as a curator, auction house specialist and art advisor. He became much more visible after engaging in an epic bidding war over Ernie Barnes’s The Sugar Shack II that sold to energy trader Bill Perkins for more than $15 million at Christie’s in May of 2022. In this podcast, Jensen talks about the role of an art advisor as well as what makes Los Angeles distinctive in terms of its collectors, their goals and what they value. We also talk about Ernie Barnes, how his market has rapidly globalized and, of course, what it was like to bid in that wild auction for The Sugar Shack.

In this podcast, David Galperin, Sotheby’s Head of Contemporary Art for the Americas talks about the success of Justin Caguiat’s work in last month’s The Now sale, the continuing success of Jadé Fadojutimi’s work and how the cycle of discovery has accelerated. Why do young artists or historically overlooked artists launch so quickly into auction sales cycles? How does the discovery market function and what’s the interplay between galleries and auction houses.

Natasha Degen is the chair of the graduate program in art market studies at FIT in New York. She has just published a book called Merchants of Style, Art and Fashion after Warhol. That subtitle doesn’t really capture the depth and nuance of her book. SHe has written an anatomy of the ways art and fashion have become intertwined in the present-day global economy. It’s not just that major fashion brands have latched onto artists as way to market their wares and their brands. Degen unpacks the cultural codes and institutional structures that have promoted this convergence. In this podcast, she also speculates on what has been gained and lost by both art and fashion—and what’s at risk going forward.

The New York auctions begin this week with just over 2000 lots on offer. The combined low estimate is nearly $1.37 billion dollars. If we remove the Allen collection from last November’s sales, we’re still at about the same level in terms of the value of the low estimate. If that doesn’t surprise you, you’re lucky. That means you didn’t spend three months after November’s auctions waiting for a global recession to begin. During that period, little art traded hands. Now that the economic slowdown hasn’t happened—yet—it would seem as though the art market is trying to make up for lost time and take advantage of this goldilocks moment. Pre-sale guarantees seem to be down but the freight train of collections and estates hasn’t stopped either. In this podcast, we’re going to hear from the specialists at Christie’s, Phillips and Sotheby’s about some of the lots selling this month. There’s so much high quality art on offer, we’re not going to get to it all. But here are some of the interesting stories.

When the $270 million dollar Gerald Fineberg collection was announced, Christie’s Sara Friedlander remarked that the Boston real estate developer, “bought art like a curator.” Citing his ability to go deep into key movements like the artists of Black Mountain College, the Ninth Street Women, Gutai, Pop, Minimalism, Arte Povera and the Pictures Generation, Friedlander also points out that Fineberg had important works by Gerhard Richter, Christopher Wool, Alice Neel, Man Ray, Beauford Delaney and Barkley Hendricks. We sat down this week to talk through as much of the art on offer as we could possibly discuss in 30 minutes. Highlights from the Fineberg collection are on view at Christie’s until May 13th when the entire collection will be on display at the auction house’s Rockefeller Center headquarters. The highlights are hung in an engaging “salon” style—that means the works are sitting edge-to-edge—but the final exhibition will offer a different perspective. Auction season in New York is a rare opportunity to see art. The auction houses are open to the public. So avail yourself of this privilege starting May 6th.

S.I. Newhouse Jr. was a titan of the media business in the late 20th Century, presiding over Conde Nast but also owning with his brother Donald Advance Publication’s chain of newspapers and other cable television properties and networks. He was one of the preeminent collectors of Post-war and Contemporary art. Through the painter Alexander Liberman, who served as Conde Nast’s Editorial Director, he met the abstract expressionist Barnett Newman. Through Newman, he developed an interest in abstract expressionism and color field painting. But Newhouse was also a restless and inquisitive collector open to pursuing new ideas and remaking his collection continually. Alex Rotter, Chairman of Christie’s 20/21 art departments, and Max Carter, a Vice Chairman, sat down to talk about Newhouse as a collector and the important works that are being sold this season.

The global auction and art fair calendar hardly seems like the fascinating subject that it really is. The art world still operates on a schedule largely established decades ago. The disruption of the global pandemic seemed to offer an opportunity to reshape those assumptions. Asia has become more important and art fairs are proliferating from Seoul to Los Angeles and Paris. Nevertheless, 2022 saw the old auction calendar re-emerge. Judging by the very strong numbers posted last year, sales haven’t suffered. So what will happen next? To answer that question, I spoke to Phillips CEO Stephen Brooks. Phillips is the first to open a dedicated Hong Kong headquarters. His rivals will have their own premises next year. That means there is likely to be an auction season twice a year in Hong Kong either in 2024 or sometime thereafter just as there is in New York and London. How that will fit into the calendar and how auction houses view the growing number of sales opportunities is the subject of our conversation. I hope you enjoy it.

Cecily Brown has been a prominent painter for more than a quarter century. But starting in the last 5 years, her importance in the art market has grown substantially. With the opening of Death and the Maid at New York’s Metropolitan Museum, it seemed like a good time to discuss her market. The Met show is one of only a handful of museum shows that Brown has participated in including Boston’s MFA in 2006 and the Louisiana Museum in 2018. To get a better sense of how collectors view and value her work, I spoke to Hugo Nathan, one of the principles of art advisory Beaumont Nathan. As an art dealer and collector himself, Hugo has worked on a broad range of art from the Renaissance to Contemporary. His firm have advised a number of clients on the market for Cecily Brown’s work. We spoke early on the morning that the Met show opened

CJ Hendry is an artist “of sorts,” she says. She’s an Instagram phenom, an entrepreneur, a copyright provocateur and an impresario. Last year she converted a church in London into an immersive experience that involved a never-ending indoor “snowstorm.” This month in Brooklyn, she has created a massive indoor playground for children and adults for a show called Plaid. From her renovated Brooklyn townhouse just featured in Architectural Digest to acting as her own gallery to a documentary about her Copyright Infringement public art projects, there’s no shortage of topics to discuss. Hendry and I sat down in her studio to go through them.

Editions, or the sales of prints and multiple works, is an auction category that is rarely discussed. For many artists, editioned work is a significant part of their practice. Over the last several years, there has been an explosion in interest and auction activity. In 2021, Phillips saw a record-breaking year for its Editions sales. Since then, auction volume has risen another 30% to a total of $40 million in sales in 2022. Phillips editions department was founded in 2008. Since that time, there has been a five-fold increase in bidders registered with the house. To discuss the growth of the editions market, we spoke with Robert Kennan, Phillips’s head of editions in Europe.