Art World News

Elaborate Flower Arrangements by Lewis Miller Design Cascade From Fixtures of New York City Streets

Elaborate Flower Arrangements by Lewis Miller Design Cascade From Fixtures of New York City Streets

All images © Lewis Miller Design, shared with permission

Sprays of vibrant blooms and foliage erupt from New York City trash cans, trucks, and road signs by Lewis Miller Design (previously). Known for his temporary Flower Flash installations, Miller sees phone booths and stacks of pallets as vessels for enormous floral arrangements, which often remain in place for only a few hours before they disappear. He delights in setting the scene for unexpected encounters and often collaborates with local businesses, events, and other artists, like in a series of cascading displays around artist Scott Froschauer’s reimagined road signs for L.E.A.F. Flower Show.

Find a variety of vivid arrangements on Miller’s Instagram and website.

 

A cascade of flowers spilling out of a city garbage can.

Two images of cascading floral arrangements around signs by Scott Froschauer.

A floral arrangement in a city garbage can. A large floral arrangement inside of a garbage can in New York City.

A cascade of flowers spilling out of a city garbage can.

A cascade of flowers around and spilling out of an ice cream truck.

A floral arrangement in the shape of a heart with the Empire State Building in the distance.  A cascade of flowers spilling out of a city garbage can.   A cascade of flowers spilling out over a stack of pallets.

Do stories and artists like this matter to you? Become a Colossal Member today and support independent arts publishing for as little as $5 per month. The article Elaborate Flower Arrangements by Lewis Miller Design Cascade From Fixtures of New York City Streets appeared first on Colossal.

Sangmin Oh Illuminates Otherworldly Textiles in His Sculptural ‘Knitted Light’ Series

Sangmin Oh Illuminates Otherworldly Textiles in His Sculptural ‘Knitted Light’ Series

All images © Sangrim Oh, shared with permission

Supple textures meet bold hues in Sangmin Oh’s elegant Knitted Light series. Drawn to relationships between sculptural forms, textile techniques, and architectural elements, the Netherlands and Korea-based artist developed a collection of soft lamps designed to suspend from the ceiling or sit on chunky, rough-hewn pedestals.

Oh founded Osangmin Studio in 2021, which “focuses on observing trivial and small empty spaces” like the corners of rooms or nondescript alcoves that can be elevated with the addition of color, shape, and illumination. The Knitted Light series takes inspiration from the diversity of sea life and coral, evoking scaled tendrils or slim funnels. The fixtures often appear to float in the dark as they transform from standalone objects into glowing, functional installations.

Find more of Oh’s work on Instagram. (via Yellowtrace)

 

An abstract lighting fixture dangles from the ceiling and turns the room red.

A series of colorful, abstract, textile lighting fixtures.

Two images, one dark and one light, of a series of abstract lights.

A series of colorful, abstract, textile lighting fixtures.

A series of colorful, abstract, textile lighting fixtures, illuminated.

Two images of sculptural lamps. The image of the left shows the light off, and the image on the right shows the lamp glowing red.

A series of abstract lamps shown glowing bluish-green.

A series of colorful, abstract, textile lighting fixtures.

Do stories and artists like this matter to you? Become a Colossal Member today and support independent arts publishing for as little as $5 per month. The article Sangmin Oh Illuminates Otherworldly Textiles in His Sculptural ‘Knitted Light’ Series appeared first on Colossal.

The Glowing, Prismatic Nervous System of a Sea Star Wins the Scientific Image of the Year

The Glowing, Prismatic Nervous System of a Sea Star Wins the Scientific Image of the Year

Laurent Formery, U.S., the nervous system of a juvenile sea star. All images courtesy of Evident

Science meets psychedelic color in the 2022 Evident Image of the Year awards. From the vibrant, feather-like crystals of a topical medicine to the shimmering scales of a Urania ripheus moth, the winning works unveil a slew of vibrant, microscopic wonders found around the world. This year’s top image comes from molecular biologist Laurent Formery, who documented the spindly, spiky nervous system of a young sea star. Reaching approximately one centimeter wide, the minuscule specimen glows with kaleidoscopic hues under a color-coded Z-projection.

The award, which focuses on scientific imaging and light microscopy, garnered 640 submissions from 38 countries. Find out more about the winning images and see the honorable mentions on Evident. (via PetaPixel)

 

A lush flower-like crystal in psychedelic color

Shyam Rathod, India, the crystal of a topical medicine used to treat warts

A spiky puff appears to float on the top right with coral like filaments on the bottom

Igor Siwanowicz, U.S., depth color-coded projection capturing a morning glory pollen grain as it germinates

A field of delicate rolls of color

Javier Ruperez, Spain, Urania ripheus moth wing scales

A cluster of green modules around a shimmering stem

Jiao Li, China, edelweiss stamens

Do stories and artists like this matter to you? Become a Colossal Member today and support independent arts publishing for as little as $5 per month. The article The Glowing, Prismatic Nervous System of a Sea Star Wins the Scientific Image of the Year appeared first on Colossal.

Art Busan successfully raises first investment round… securing foundation for expanding domestic art market base and the fair’s global expansion

Art Busan successfully raises first investment round… securing foundation for expanding domestic art market base and the fair’s global expansion
  • Sanghun Kim, former CEO of Naver; Kelvin Dongho Kim, CEO of Korea Credit Data (KCD); Tony Lyu, Venture Partner at SoftBank Ventures; and Simon Seojoon Kim, CEO of Hashed, participate as angel investors.
  • Attracting investments from Musinsa and CTR.. creating a buzz in the art market.
  • Organizer of the leading art fair in Korea “Art Busan,” launching a new Seoul fair in November 2023.

BUSAN, South Korea, Aug. 14, 2023 /PRNewswire/ — On the 9th of August, Art Busan Inc., the organizer of the leading Korean art fair ‘Art Busan’, announced that they have successfully secured their first investment round. Despite concerns about the ongoing economic downturn, this investment round validates the sustained interest in the art market and the high value and growth potential of the ‘Art Busan’ brand. Prominent unicorn startup founders and renowned investors including Sanghun Kim, former CEO of Naver, Kelvin Dongho Kim, CEO of Korea Credit Data, Simon Seojoon Kim, CEO of Hashed and Tony Lyu, venture partner at SoftBank Ventures Asia are among the list of investors. Korea’s leading fashion platform Musinsa and global mobility group CTR have also joined this initial investment round. 

Through this round of investment, Art Busan has successfully secured the optimal strategic partnership base required to expand its existing art fair business to Seoul and the global market. At the same time, it has positioned itself to operate a diverse range of new ventures within the on and offline sectors of the international art markets, which require strategic alliance.

Art Busan was established in 2011 with the ambition to transform the culturally marginalized city of Busan into a city of culture. In pursuit of this goal, they organized their first art fair, ‘Art Show Busan,’ in 2012. By 2022, Art Busan attained Korea’s top art fair brand title, in terms of visitor numbers, total sales volume, and art fair ranking conducted by the Ministry of Culture, Sports and Tourism, establishing itself as an art fair brand that gained not only domestic but also international attention. Through Art Busan, acclaimed international galleries have made their first debut into the Korean market, leading them to open their Korean branches. As such, Art Busan has been a key player in connecting major art institutions, galleries, art patrons and collectors. With its stable organizational culture and agile execution as a private entity, Art Busan has been a driving force behind the revitalization of the domestic art market in the absence of global-level art fairs. Now, with plans to host a new event integrating design and art in this year, and expanding its presence to Seoul, Art Busan aims to strengthen Korea’s brand power and make a leap into the global art market.

Sanghun Kim, former CEO of Naver, who has served as the Chairman of the National Theater Company of Korea, a board member of the Seoul Philharmonic Orchestra, and the President of the National Hangeul Museum Support Committee, responded that “I firmly believe and support that Art Busan, which started in my beloved city of Busan, will grow into a leading brand in Korea’s art and cultural scene and play a significant role in expanding the foundation of Korean art market in the right direction.” Kelvin Dongho Kim, CEO of Korea Credit Data added that “I was strongly attracted by Art Busan’s founding story and how the local fair from Busan has grown into Korea’s leading art fair brand. I am excited to join this investment round as I wanted to contribute to the company’s vision of becoming a global art brand.”

Director Seokho Jeong of Art Busan said, “this investment holds significance as it recognizes the substantial contributions Art Busan has made to the advancement of the Korean art market thus far, and its unique brand value established within the art market.” He added, “moving forward, we aim to grow Art Busan as a global brand and take a leading role in ensuring the nourishing and sustainable development of the Korean art market.”

As a significant step in its full-scale business expansion and global leap, Art Busan will unveil the first edition of the premium design and art fair, ‘DEFINE SEOUL,’ in the Seongsu district of Seoul from November 1st to 5th.

SOURCE Art Busan

The Art of AI Prompting Copilots for your Marketing Team

The Art of AI Prompting Copilots for your Marketing Team

Lisa Schwartz, Growth Marketing lead at Digitate (a Tata Consultancy Services AIOps company) and Amazon author of “Guidebook to Digital Marketing and Customer Attraction,” personifies 18+ years driving innovative marketing transformation for top tech brands in the world, such as HP, AWS, Citrix, Oracle, and Nortel. Lisa is a sought-after speaker on executive marketing thought leadership, demand generation, marketing operations, global marketing, ABM, and AI use cases in Marketing. In her free time, she writes about how executives can harness the power of AI in their marketing teams.

The art of ChatGPT AI prompting for marketers is truly the differentiation that sets most modern marketers apart from other organizations that merely use paid AI tools. With ChatGPT you can quickly create a lot of real-world value in your marketing team where results are realized quickly and can supplement budgets that are being scrutinized during market and category consolidations and economic uncertainty.

Harnessing the ability of AI apps like ChatGPT, marketing teams can create content, videos, graphics (both 2D and 3D), chatbot assistants, visual assets, grammar corrections, derivative assets from videos and images, product, category or social post titles and names and descriptions, SEO, proofreading, plagiarism checking, analogy creation, keyword discovery, topic outlines and web scraping, and more. Making AI accessible to marketing teams with a consistent framework is a method I’ve termed called “co-piloting.” ChatGPT copilots will supplement your marketing projects but won’t steal people’s jobs, however, learning these prompts will develop a modern marketing team that can compete effectively.

For those unfamiliar with prompting or ChatGPT, it does take practice and some trial and error.  For example, at the beginning of using ChatGPT, it would provide a very generic, plain vanilla, boring output. After several tries, I received a good response and that was my aha moment and the learnings I share in the co-pilot framework.

Here’s the co-pilot art of prompting framework to successfully create responses from ChatGPT.

In this framework, prompts are split into five core areas: 1/goal, 2/context, 3/intent, 4/instructions, and 5/presentation. This sequence helps to layer information into your prompts intuitively, flowing from one area of the prompt to the next. It also allows you to edit or tweak your prompts, because it’s easier to navigate around the prompt and understand what each area of the prompt is designed to do.

By following the co-pilot framework steps, you’ll be able to create tailored prompts that meet your specific needs. For this example, we will create product descriptions for our main technology categories.

Step 1: Goal (Set the Scene)

The first step is to greet ChatGPT and ask it to assume a specific role. In our example, the person who will be doing this prompting is the marketing manager who will have information about the product and target audiences.  This information is needed so the prompt knows the context of the question (who is asking the question).

By telling ChatGPT to assume a specific role, it’s able to draw on specific parts of its training that relate to the topic. You’ll also want to give ChatGPT a high-level overview of the task you want it to help with. This will help ChatGPT understand the context of the prompt and tailor its output accordingly.

Step 2: Context

Provide ChatGPT with information to help it understand the context of the prompt. This could include details about your target audience, the specific use case, or any other information that will help ChatGPT deliver the best possible output. Think of this as your INFORMATION part of the prompt. The context provides ChatGPT with all relevant information that it will draw from when creating the output. It’s a critical part of the prompt.

To create context, just write in your own words the background information that you think is important for ChatGPT to know about to create the output.  If you simply instruct it to write a product description that resonates with the target market, but you haven’t provided who your target market is in the CONTEXT, then you’ll get bland output that won’t be very useful, and most certainly won’t resonate with your audience.

Step 3: Intent

The intent is the “why”. This could be anything from providing information to encouraging action. You should try to be as specific and clear as possible when stating your intent to avoid ambiguity and ensure that ChatGPT fully understands the goal.

By clearly stating your intent, you’ll help ChatGPT create a prompt that is specifically tailored to your intended goals. By providing intent, it will produce marketing content and responses that act as your marketing co-pilot.

Step 4: Instructions

As an artist, you shape and control the output using the instructions and your modifiers. Think of a large block of marble – Michelangelo can sculpt amazing statues from these blocks, whereas someone who can’t sculpt will never be able to produce amazing statues. Your instructions are where you ‘sculpt’ your output and express your unique creativity and vision.

Within the instruction segment of the prompt, we use moderators that convey the tone, emotion, and voice to adjust the output to our unique needs to tailor the prompt to match your brand’s personality and tone of voice and convey the right emotions that resonate with your target audience.

You can also include any other relevant instructions that will help ChatGPT create the perfect prompt. Other instructions you might include could include, the length of the output, information to use, information NOT to use (exclude), level of creativity you want to use, and a step-by-step breakdown of the desired output.

Step 5: Presentation

Finally, it’s time to tell ChatGPT how to present the information. This could be anything from a table or list to an article to copy blocks or blog posts. By providing ChatGPT with clear instructions on how to present the information, you’ll ensure that the final output is exactly what you need. You can have ChatGPT output lists, articles, blogs, landing page copy, tables, code…you name it, ChatGPT can probably do it!

For marketing teams, prompting can become your marketing co-pilot and those who can prompt will be able to ride this incredible AI wave! The key is practice. Use this structure to add marketing AI co-pilots to your team. Keep reading Digital First Magazine for the next part of this Marketing AI use cases series to easily set up your marketing co-pilots using AI.

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How Has the Art World Changed Since 1983? On the 40th Anniversary of His Gallery, Thaddaeus Ropac Has Some Ideas

How Has the Art World Changed Since 1983? On the 40th Anniversary of His Gallery, Thaddaeus Ropac Has Some Ideas

“Today we look back with a bit of shame at the time when the art world was very male dominated,” Thaddaeus Ropac reflected on a drizzly afternoon in late July as guests started pouring in to his Salzburg gallery’s 40th anniversary exhibition.

Spread across two locations in the Austrian city—a villa in the heart of the manicured historical center and a converted industrial hangar on its outskirts—the show’s concept is straightforward: Ropac wanted to present works capturing the spirit of the art world around 1983—the year when he opened his first gallery—and juxtapose them with works created today. “In those four decades, I’ve seen art move from the ivory tower to the center of life,” he said with contagious enthusiasm.

Installation view,

Installation view, “1983 | 2023” at Thaddaeus Ropac, Salzburg. Photo by Ulrich Ghezzi.

In one of the rooms dedicated to the early 1980s, a work by Georg Baselitz, who famously proclaimed women couldn’t paint, hangs next to a painting by the late Austrian artist Maria Lassnig, whom Ropac has represented since the gallery’s early days. Call it heavy-handed, but this gesture encapsulates a certain authenticity and humbleness that the artists in his stable seem to appreciate. “We speak, we fight, we take positions! When we started to represent the estate of Donald Judd for example, some of our painters weren’t happy. I had to defend it. Judd had a strong position against painting, especially figurative painting.”

The story of how Ropac started out as a gallerist has been told many times, and involves a life-altering encounter with the work of German artist Joseph Beuys in 1979, on a school visit to a Vienna museum. Realizing he didn’t have what it takes to become an artist himself, Ropac still wanted to be involved but wasn’t sure how. So he moved to Düsseldorf and took an unpaid gig at Beuys’s studio.

“I came in at an epic moment for the art world, in 1982. It was Documenta 7, and Beuys, a founding member of Germany’s Green Party, was planting 7,000 oak trees in Kassel. And in Berlin, Norman Rosenthal’s landmark exhibition ‘Zeitgeist’ gathered all these international names together for the first time,” he recounted. When he decided to open his own gallery the following year, Beuys connected Ropac with Andy Warhol, who introduced him to Jean-Michel Basquiat. Ropac ended up working with both, bringing them and other American artists to Salzburg where he also showed Beuys, Baselitz, Anselm Kiefer, and VALIE EXPORT, attracting a loyal German-speaking collector base.

Thaddaeus Ropac with David Hockney and Sydney Picasso. Photo ©Angelika Platen.

Thaddaeus Ropac with David Hockney and Sydney Picasso. Photo ©Angelika Platen.

But as his roster of artists expanded, it became clear he needed to open a gallery in a major art city, or his artists would take their best work elsewhere. Salzburg, as he found out early on, only comes to life during its summer music festival. “I was here out of a misunderstanding, but it grew close to my heart. I didn’t want to leave Salzburg. Yet I owe a big part of my success to Paris.”

In 1990, he opened his second location in the Marais district of the French capital showing a group of New York artists including Jeff Koons and Haim Steinbach. It was just one year after Jean-Hubert Martin’s groundbreaking exhibition “Magiciens de la terre” at the Centre Pompidou, which looked beyond the Eurocentric art world to show contemporary artists from across Asia, South America, and Indigenous communities. It was a stark contrast in attitude to MoMA’s 1984 “Primitivism” exhibition, and for Ropac, it came to symbolize the curiosity and openness of the French audience. “It was a life-changing exhibition for me; the French were looking where the rest haven’t looked yet. They were the first to show contemporary Chinese art in Europe.”

Installation view,

Installation view, “1983 | 2023” at Thaddaeus Ropac, Salzburg. Photo by Ulrich Ghezzi.

Ropac’s work with strong trail-blazing women artists has flown under the radar. His second show there was dedicated to American conceptualist Elaine Sturtevant, who had just moved to Paris. She felt misunderstood in the U.S., and thought the French had a wider intellectual access to her concepts around appropriation. Across the channel, in London, Ropac had started working with the likes of Gilbert & George, Tony Cragg, Antony Gormley, and Richard Deacon, who became the biggest names of their generation—but he completely missed out on the next one, the YBAs. It wasn’t until much later, in 2017, that he opened his London outpost in Dover street’s Ely House.

Today, the London gallery plays a key role. There’s an entire team dedicated to forging new artist representations, led by former Serpentine director Julia Peyton-Jones. Since she took the position in 2017, coinciding with the opening of the London location, the gallery’s roster swelled from 60 artists and estates to some 72, taking on a younger generation including Alvaro Barrington, Mandy El-Sayegh, and Zadie Xa. “I’m no longer the one dominating these decisions—and it feels good.” Ropac recounts receiving a phone call from Peyton-Jones urging him to hurry to a graduate show, to look at painter Rachel Jones’s work. “We are not the kind of gallery that picks an artist from a degree show, but as soon as I saw the work it was clear to me we had to work with her.”

Installation view,

Installation view, “1983 | 2023” at Thaddaeus Ropac, Salzburg. Photo by Ulrich Ghezzi.

Having been a part of the art world since the early 1980s, Ropac naturally became the gallery of choice for numerous lucrative estates, including those of Beuys, Sturtevant, James Rosenquist, Warhol, and Robert Rauschenberg, as well as experimental German filmmaker Harun Farocki. However, his success was not only about being at the right place at the right time. Ropac is driven by genuine curiosity and possesses an uncanny ability to recognize potential and opportunity in unlikely places. He’s also a perfectionist, describes himself as being “obsessed with the art world,” and is often plagued by insomnia, which he still manages to turn into new opportunity. “I use these moments to read and engage with things outside the art world; it opens other worlds for me, so I’m sometimes almost thankful for it.”

Ropac has developed a strong sense for when and where good art is being made, and why. But he always wisely avoided putting on group shows spotlighting art from certain places, opting instead for a deeper engagement with singular artists. “It’s a gut feeling, something you feel really strongly about,” he explained. That was the case when he started working with Romanian painter Adrian Ghenie. “It grew out of my deep interest in middle-Europe, and his work really stood out.” And in 2021, as the world was reeling from the COVID-19 pandemic, Ropac opened a gallery in Seoul, which expanded to double its size this year. “Korea has one of the most sophisticated art worlds you can imagine. Today, it’s driven by young people, it’s incredibly creative.”

Thaddaeus Ropac and Alex Katz. Courtesy Galerie Thaddaeus Ropac, London · Paris · Salzburg · Seoul.

Thaddaeus Ropac and Alex Katz. Courtesy Galerie Thaddaeus Ropac, London · Paris · Salzburg · Seoul.

Knowing what he knows about the art market, and how different it is from when he first started out 40 years ago, would he would still take the leap today? “Immediately!” he says without hesitation. “I think now, after Covid, is the best time to open a gallery. It was a time for artists to go back to the studio and reflect. I think in the future, we will look back at 2020 as one of the strongest years in terms of art production. Any gallery starting out now already has the fruits of one of the most creative changes in the art world. I wish I were a young gallerist opening in 2023.”

“1983 | 2023” is on view at Thaddaeus Ropac’s Villa Kast and Salzburg Halle through September 30.

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Art Busan successfully raises first investment round – securing foundation for expanding domestic art market base and the fair’s global expansion

Art Busan successfully raises first investment round – securing foundation for expanding domestic art market base and the fair’s global expansion
  • Organizer of the leading art fair in Korea “Art Busan,” launching a new Seoul fair in November 2023.

BUSAN, South Korea, Aug. 14, 2023 /PRNewswire/ — On the 9th of August, Art Busan Inc., the organizer of the leading Korean art fair brand ‘Art Busan’, announced that they have successfully secured their first investment round. Despite concerns about the ongoing economic downturn, this investment round validates the sustained interest in the art market and the high value and growth potential of the ‘Art Busan’ brand. Prominent unicorn startup founders and renowned investors including Sanghun Kim, former CEO of Naver, Kelvin Dongho Kim, CEO of Korea Credit Data, Simon Seojoon Kim, CEO of Hashed and Tony Lyu, venture partner at SoftBank Ventures Asia are among the list of investors. Korea’s leading fashion platform Musinsa and global mobility group CTR have also joined this initial investment round. 


ART BUSAN 2023 Courtesy of Art Busan

Through this round of investment, Art Busan has successfully secured the optimal strategic partnership base required to expand its existing art fair business to Seoul and the global market. At the same time, it has positioned itself to operate a diverse range of new ventures within the on and offline sectors of the international art markets, which require strategic alliance.

Art Busan was established in 2011 with the ambition to transform the culturally marginalized city of Busan into a city of culture. In pursuit of this goal, they organized their first art fair, ‘Art Show Busan,’ in 2012. By 2022, Art Busan attained Korea’s top art fair brand title, in terms of visitor numbers, total sales volume, and art fair ranking conducted by the Ministry of Culture, Sports and Tourism, establishing itself as an art fair brand that gained not only domestic but also international attention. Through Art Busan, acclaimed international galleries have made their first debut into the Korean market, leading them to open their Korean branches. As such, Art Busan has been a key player in connecting major art institutions, galleries, art patrons and collectors. 

As a significant step in its full-scale business expansion and global leap, Art Busan will unveil the first edition of the premium design and art fair, ‘DEFINE SEOUL,’ in the Seongsu district of Seoul from November 1st to 5th. 

Art Busan successfully raises first investment round – securing foundation for expanding domestic art market base and the fair’s global expansion

Art Busan successfully raises first investment round – securing foundation for expanding domestic art market base and the fair’s global expansion
  • Organizer of the leading art fair in Korea “Art Busan,” launching a new Seoul fair in November 2023.

BUSAN, South Korea, Aug. 14, 2023 /PRNewswire/ — On the 9th of August, Art Busan Inc., the organizer of the leading Korean art fair brand ‘Art Busan’, announced that they have successfully secured their first investment round. Despite concerns about the ongoing economic downturn, this investment round validates the sustained interest in the art market and the high value and growth potential of the ‘Art Busan’ brand. Prominent unicorn startup founders and renowned investors including Sanghun Kim, former CEO of Naver, Kelvin Dongho Kim, CEO of Korea Credit Data, Simon Seojoon Kim, CEO of Hashed and Tony Lyu, venture partner at SoftBank Ventures Asia are among the list of investors. Korea’s leading fashion platform Musinsa and global mobility group CTR have also joined this initial investment round. 

Through this round of investment, Art Busan has successfully secured the optimal strategic partnership base required to expand its existing art fair business to Seoul and the global market. At the same time, it has positioned itself to operate a diverse range of new ventures within the on and offline sectors of the international art markets, which require strategic alliance.

Art Busan was established in 2011 with the ambition to transform the culturally marginalized city of Busan into a city of culture. In pursuit of this goal, they organized their first art fair, ‘Art Show Busan,’ in 2012. By 2022, Art Busan attained Korea’s top art fair brand title, in terms of visitor numbers, total sales volume, and art fair ranking conducted by the Ministry of Culture, Sports and Tourism, establishing itself as an art fair brand that gained not only domestic but also international attention. Through Art Busan, acclaimed international galleries have made their first debut into the Korean market, leading them to open their Korean branches. As such, Art Busan has been a key player in connecting major art institutions, galleries, art patrons and collectors. 

As a significant step in its full-scale business expansion and global leap, Art Busan will unveil the first edition of the premium design and art fair, ‘DEFINE SEOUL,’ in the Seongsu district of Seoul from November 1st to 5th. 

SOURCE Art Busan

‘Trophy’ Sales at Auction Fall 51 Percent—Artnet Report

‘Trophy’ Sales at Auction Fall 51 Percent—Artnet Report

Sales of artworks over US $10 million plummeted in the first five months of 2023, while total sales at auction slipped a more modest 14 percent.

‘Trophy’ Sales at Auction Fall 51 Percent—Artnet Report

Gerhard Richter, Badende (1967). Oil on canvas. 160 x 200 cm. Courtesy Christie’s. The work sold for US $9.6 million at Christie’s auction A Century of Art: The Gerald Fineberg Collection in May 2023, below its estimate of $15–20 million.

Art sales at auction have cooled considerably according to a new report by Artnet.

An analysis of results from 391 auction houses worldwide for the period 1 January to 20 May 2023 found that total sales had declined 14 percent year-on-year to just under U.S. $5 billion.

The drop was especially pronounced for ‘trophy’ artworks, priced over US $10 million, which fell from $2.4 billion in 2022 to $1.2 billion.

The decline at the top of the market was attributed, in part, to the lack of inventory following a banner year in 2022. Returning to their sales rooms after the worst of the pandemic, Sotheby’s presented the $922.2 million Macklowe Collection, while Christie’s offered up the Collection of Thomas and Doris Ammann, including Andy Warhol’s $195 million Shot Sage Blue Marilyn (1982).

The inventory that was on offer in the first half of this year underperformed. Christie’s Gerald Fineberg Collection in May 2023 brought in $210 million, well under the estimate of up to $270 million.

Pablo Picasso, Buste d'homme laurédated (1969). Oil and Ripolin on canvas. 115.7 x 88.8 cm.

Pablo Picasso, Buste d’homme laurédated (1969). Oil and Ripolin on canvas. 115.7 x 88.8 cm. Courtesy Christie’s. The work sold for US $8.5 million at Christie’s auction A Century of Art: The Gerald Fineberg Collection in May 2023, below its estimate of $15–20 million.

It’s not just the top of the market that has come back. The heated market for ‘ultra-contemporary art’, defined as works made by artists born after 1974, cooled by more than 25 percent to $184.2 million.

Assessing the reasons for the pullback in auction prices, senior reporter Katya Kazakina wrote that ‘the broader economic volatility finally caught up with the art market, which usually lags other indicators by at least six months.’

‘Dealers have been saying for a year that there’s been a reset,’ art advisor Wendy Cromwell told Kazakina. ‘The auctions were just the public acknowledgement of that.’

Artnet presented their findings as an opportunity for buyers, titling their report State of the Market: Welcome to Bargain City?

The report acknowledges that the true health of the art market is hard to ascertain from auction sales, which are confounded by numerous factors.

These include: pre-sale agreements such as guaranteed minimums and irrevocable bids; artwork withdrawals, which exaggerate sell-through rates; and the discrepancy between presale estimates, which don’t include buyer’s premium fees, and sales figures, which do. —[O]

What is happening to Folk Art Market leadership?

What is happening to Folk Art Market leadership?

As longtime volunteers and supporters of the International Folk Art Market, we were disappointed and saddened, yet strangely not terribly surprised, at the recent news of Melissa Mann’s departure as market CEO. This is the fourth CEO of the market in recent years and the third consecutive leader who has left the position after a brief tenure. For any healthy organization, the logical question to ask is: “What is going on between the board and staff that causes this level of turnover?”

Mann was exceptionally skilled at managing the plethora of challenges IFAM presents, including fundraising, staff development, outreach to the community and dealing with the hundreds of issues that arise during market. She managed all of that with a wonderful air of constant support to her staff and uplifting spirit. Adding to the annual challenges was the recent herculean effort to move away from Museum Hill to the Santa Fe Railyard in the center of town.

Naturally there were glitches, but they were drowned out by the tsunami of great acclaim. Importantly, the market broke attendance, sales and revenue records. Most importantly, the average take-home revenue for each artist was the highest it has been. Yet still Mann found it untenable to stay.