As Jay Chou curates Christie’s Post-Millennium Evening Sale featuring rising stars, we’re reminded that every emerging artist holds the potential to shape the art world. Meanwhile, Sotheby’s Fall Sales spotlight blue-chip American artists, reflecting the art market’s vibrancy. Plus, a French collector’s triumph in a legal battle over a da Vinci sketch signals the complexities of art ownership. Stay ahead of the curve with these pivotal market shifts.
Jay Chou Set to Curate Christie’s Sale
Auction powerhouse Christie’s has enlisted the Taiwanese superstar Jay Chou to produce its upcoming Post-Millennium Evening Sale. Set to happen in Hong Kong on the 28th of November, the sale showcases upcoming artists like Adrian Ghenie, Dana Schutz, Loie Hollowell, Jade Fadojutimi and Huang Yuxing. Chou told OCULA that “Every one of the next generation of artists could be a future great artist. I would like to inspire them and be a guide throughout this journey as I myself have traversed this path.”
See More: https://ocula.com/magazine/art-news/christies-enlists-jay-chou-for-hong-kong-auction/
Art Ransoming Becoming More Commonplace
The Telegraph has released a report shedding light on the growing phenomenon of art thieves asking for ransoms in exchange for stolen artworks. The trend was noted by Christopher Marinello (founder of Art Recover International) who found an remarkable increase in the number of ransom cases encountered on a daily basis. To combat this issue, art advisor Julia Bell recommends investing in museum-standard fixings and secure storage as well as limiting access to private collections.
See More: https://www.tatler.com/article/stolen-artworks-ransom
American Artists Dominate Sotheby’s Fall Sales
The works of several blue-chip American artists are being sold at eye-catching prices in Sotheby’s New York evening sales, an annual event that typically serves as a reliable indicator of the art market’s health. One of these artists is Philip Guston, with his 1952 work The Bell selling at an estimated $6 million to $8 million. Another is Robert Colescott, whose 1975 painting Eat dem Taters tackles problematic depictions of African Americans. It is being sold at an estimated $2 million to $3 million. The realist painter Andrew Wyeth will also make an appearance at the upcoming Sotheby’s auction, his work Spring Fed sporting an estimate of $4 million – $6 million. The auction series is set to begin next week.
South Korean Collector Seeks to Revolutionise Art Fairs
JaeMyung Noh is a prolific South Korean art collector and the latest newcomer to a crowded art fair scene. Launching the aptly titled ART OnO (stands for “One and Only”), Noh’s passion project aims to keep booth fees 40% lower than the standard prices to reduce the barriers to entry for small, new galleries, thus obtaining a greater range of artworks from both established artists and rising names. The fair has already secured approximately 60 gallery participants, with 40 of them hailing from outside of South Korea.
Above image: JaeMyung Noh
See More: https://news.artnet.com/market/korean-collector-is-launching-a-new-art-fair-in-seoul-2387625
Rising Artistic Interest in Indigenous Southeast Asian Communities
Around the world, art communities have begun taking an interest in First Nations and Indigenous art. Likewise, there is a growing community of artists, curators and researchers dedicated to learning more about indigenous communities in Southeast Asia, including villages in remote areas in Malaysia and Indonesia. These artists use art as a way to explore ways of preserving the cultures, stories and natural environments of these communities, such as promoting traditional weaving practices or curating educational exhibitions.
See More: https://www.thepeakmagazine.com.sg/lifestyle/southeast-asia-art-indigenous-communities/
Owner of da Vinci Sketch Wins Years-Long Battle Against French Government
An anonymous French man has emerged victorious in a 7-year court battle with the French Ministry of Culture over the export license required to sell a sketch by Leonardo da Vinci. When the man initially requested the license in 2016, the ministry attempted to purchase the work from him for USD 10.6 million, an offer that the man rejected. The Ministry then claimed the work was stolen and demanded legal proof that he obtained the work legally; the man responded by successfully seeking an injunction against the government, which compelled the ministry to finally grant the license and cover the man’s legal fees. The work is worth USD 15.6 million.
See More: https://www.artnews.com/art-news/news/leonardo-da-vinci-drawing-france-sale-court-battle-1234684375/
