Art World News

In ‘Creation,’ Vadim Sherbakov Captures a Macro Cosmos in Glitter and Ink

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In ‘Creation,’ Vadim Sherbakov Captures a Macro Cosmos in Glitter and Ink

Vadim Sherbakov is no stranger to wild and expansive vistas (previously), training his lens on vast landscapes and dramatic events. A fascination with light, scale, and the wonders of the unknown permeate much of his work, from terrestrial subjects to his interest in the cosmos.

Rather than shooting through a telescope or homing in on celestial bodies, he transforms our understanding of the universe—as a crucible for the imagination, its physics, and its boundlessness—on a macro scale in his new high-definition video “Creation.”

Sherbakov expresses the incredible energy and power generated by astronomical phenomena like the Big Bang or supernovas, scaled down to fit inside the artist’s studio. An array of inks, alcohol, soaps, glitter, and other materials were painstakingly combined by set designer Luidmila Tregub, who set the substances in motion while Sherbakov captured twelve hours of footage—less than one percent of which made it into the final cut.

“Creation” continues the journey that the artist began in another short film titled “Velocity.” In the latest chapter, he implements new techniques and materials, including magnets and different liquids and inks.

Find more on Sherbakov’s website and Behance portfolio, and follow updates on Instagram.

 

All images © Vadim Sherbakov, shared with permission

A still from a video showing abstract forms of colorful ink and glitter.

A gif from a video showing abstract moving forms of colorful ink and glitter.

A still from a video showing abstract forms of blue ink and glitter.

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 In ‘Creation,’ Vadim Sherbakov Captures a Macro Cosmos in Glitter and Ink appeared first on Colossal.

A Fleet of Chiseled Cars by Kiko Miyares Adds New Meaning to Getting Caught in the Headlights

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A Fleet of Chiseled Cars by Kiko Miyares Adds New Meaning to Getting Caught in the Headlights

All images © Kiko Miyares

Typically, one avoids getting “caught like a deer in headlights,” but for Kiko Miyares, that’s the whole point. Chiseled from single pieces of timber, the Llanes, Spain-based artist fashions miniature, colorful cars with the high-beams turned on and an array of landscapes and tableaux in their sights.

“I immerse myself in a creative game where shapes, dimensions, and perspective intertwine to challenge expectations,” Miyares says.

The artist often experiments perception, carving wood into a wide range of objects like shoes, animals, and figures with elongated, surreal features. Miyares’ inspiration for the yellow headlights was sparked “from my fascination with the convergence of art and functionality,” he says. “My goal is to go beyond the conventional, merging aesthetics with utility and exploring how form can influence perception.”

Distinctively long, solid lights serve as the pieces’ supports, which can be propped up into slender columns as if they are driving straight toward the ground. “The car series still has no end, and depending on the creative moment, I keep modifying the concept,” Miyares says.

Find more on Instagram.

 

A series of wooden sculptures of cars with long yellow headlights, lined up in a row.

A side-by-side image of different views of the same wooden sculpture, depicting a race car with long yellow headlights. The image on the left shows the sculpture standing up, and he image of the right shows the edge of the headlights with the silhouette of a figure chasing a ball.

A group of tall wooden sculptures of cars with long, neon yellow headlights beaming down to the floor.

A sculpture of a wooden car with solid yellow headlights, and in the headlights is a tropical landscape.

A side-by-side image. On the left, a small horizontal painting of a landscape on wood. On the right, a wooden car sculpture with long yellow headlights and the silhouette of a deer.

A wooden sculpture of a burgundy car with long yellow headlights.

Two side-by-side images. The left shows two wooden sculptures of cars with long yellow headlights, propped up on a pile of dirt. On the right, three wooden car sculptures beam headlights toward the camera, with landscapes painted on the edges of the headlights.

A series of wooden car sculptures with long yellow headlights.     A sculpture of a wooden car with solid yellow headlights, and in the headlights is a landscape with a winding road.

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 A Fleet of Chiseled Cars by Kiko Miyares Adds New Meaning to Getting Caught in the Headlights appeared first on Colossal.

UK Art Market Under Siege: The Battle Against Money Laundering Int…

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UK Art Market Under Siege: The Battle Against Money Laundering Int…
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In the quiet galleries and vibrant auctions houses across the United Kingdom, a less visible battle is being fought, far removed from the public’s adoring gazes at masterpieces. This confrontation doesn’t involve paintbrushes or chisels but rather the intricate web of regulations designed to combat the shadowy realms of organized crime and terrorism. The art market, long celebrated for its cultural contributions, has found itself at the heart of a growing concern: money laundering. The UK government, through the Money Laundering, Terrorist Financing (Amendment) Regulations 2019, has tightened the noose, leading to a seismic shift in how art transactions are conducted.

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Crackdown on a Cultural Marketplace

The catalyst for this regulatory overhaul was the increasing attention from both organized crime syndicates and terrorist groups, seeing the art market as a lucrative channel for laundering money. The National Crime Agency’s recent alert underscores the urgency, pinpointing the art storage sector as a critical vulnerability. Stakeholders, from gallery owners to private collectors, are now mandated to carry out comprehensive due diligence checks. These measures aim not only to verify the authenticity of the artworks but also to scrutinize the financial trails behind their acquisitions. However, this enhanced scrutiny comes at a cost, with increased fees and a more time-consuming transaction process, particularly for high net worth individuals accustomed to the erstwhile swift pace of art dealings.

The Financial Toll of Compliance

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Since the onset of 2022, the landscape of the UK art market has dramatically changed. The HM Revenue & Customs (HMRC) has been at the forefront of enforcing the new regulations, issuing fines to at least 30 art market participants for non-compliance. These penalties, averaging over £5,000, reflect a stringent approach to ensuring adherence to anti-money laundering (AML) directives. The repercussions have been particularly pronounced for smaller galleries, which argue that the proportionality of HMRC’s actions could threaten their survival. Moreover, some art businesses have found themselves in a banking quagmire, with accounts being closed as a direct consequence of the AML checks. Despite these challenges, there’s a silver lining, as over 1,000 art businesses have successfully registered with HMRC, indicating a growing awareness and adaptation to the AML responsibilities within the sector.

A Sector in Transition

The evolving dynamics of the UK art market, driven by the imperative to combat money laundering and sanctions evasion, signal a broader shift towards transparency and accountability. While the immediate impact has been felt in the form of financial penalties and operational hurdles, the long-term implications could redefine the market’s structure. As stakeholders navigate through this complex terrain, the commitment to preserving the integrity of the art market remains paramount. With organized crime and terrorism lurking in the shadows, the collective effort to shield this cultural bastion from exploitation is more crucial than ever. As the dust settles, it’s evident that the UK art market is undergoing a profound transformation, one that will perhaps lead to a more secure and resilient future.

UK art market feeling the heat as anti-money laundering legislation ramped up

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UK art market feeling the heat as anti-money laundering legislation ramped up
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The British art market is under mounting pressure from anti-money laundering (AML) legislation. HMRC, the UK’s tax authority, fined at least 31 art market participants from 10 January 2021, when it began supervising the art trade, to 31 March 2023, the latest period for which data is available.

Of the 31 published fines, 30 are listed in the 15 months beginning 1 January 2022—a rate of at least two fines per month. (HMRC data sometimes lags enforcement, meaning true figures for any period may be higher than initially reported.) The penalties were predominately triggered by failure to register with an AML supervisory body or provide information within allotted deadlines. The average fine for art market participants topped £5,000, while the highest single penalty rose to around £13,000.

Compounding the fines are growing concerns about the intensity of HMRC’s checks on the art trade, its understanding of the market and the consequences of the UK’s Economic Crime and Corporate Transparency Act, which has given the authorities broad new powers to investigate fraud and corruption.

Proportionality problems

“Smaller UK galleries are consistent in their view that HMRC’s approach to anti-money laundering interventions lacks proportionality,” says Paul Hewitt, the director general of The Society of London Art Dealers (SLAD). Around 78% of respondents to a recent survey conducted by the organisation expressed concerns over shifts in legislation, specifically the administrative burden of complying with the AML rules.

“Galleries with lower risk profiles feel they are treated no differently to larger, potentially riskier businesses, and the expectation that rigorous due diligence is required, even for customers that dealers have known well for many years, is a real burden and hinders productivity,” Hewitt adds.

Typically, HMRC’s routine audits (called “interventions”) of select registered businesses are thought to last only around half a day, with officers largely testing staff on AML regulations and the risk-based approach, But an investigation into an alleged breach can prove significantly more disruptive.

One gallerist subject to an AML intervention from HMRC says: “The whole process was seriously stressful. I was in a room with two officers from 10am to 6.30pm one day, followed by weeks of back and forth supplying information. I’m not saying I had nothing to learn—I like to do things properly, and this is fairly new legislation still—but I’m a small business. I was doing my best.”

A spokesperson for HMRC says, in part, “Officers ask questions in interventions to ensure we have a comprehensive view of the businesses we supervise,” including their “nature and risk”.

The Art Newspaper also spoke to several art professionals whose bank accounts had been closed at very short notice after the banks themselves—not HMRC—concluded that additional due diligence checks were required. While financial institutions must ensure all AML risks are considered, the impact on art businesses can be significant, from short-term cashflow disruption to long-term reputational damage.

Several banks were contacted by The Art Newspaper for information about any internal strategies or guidance particular to AML in the art sector. A Lloyds Bank spokesperson told us: “Our group provides banking services for around one million businesses. We adhere to regulatory and legislative obligations in respect of the information that we request from customers when opening and maintaining a bank account.”

Fluid situation

Nonetheless, the data suggests the UK art trade is working hard to comply with AML regulations. More than 1,000 art businesses have now registered with HMRC, and the few dozen known to have been fined through March 2023 comprise only a small fraction of all companies found in breach. In 2021, the department assessed fines to at least 282 registered businesses outside the art market.

Awareness of AML responsibilities in the sector is also spreading. Nicole Thiriez, a business development associate at Arcarta, an online due diligence platform, says: “When regulations came into place, in 2020, we noticed a wave of UK-based galleries start working with us and believe this was due to the fact that they were part of business associations such as SLAD, (The Association of Art and Antiques Dealers), etc, that kept galleries up to date on their requirements. In the past year, however, we have noticed smaller, independent galleries and art advisers that were not made aware of their requirements coming to businesses like us for guidance and support.”

Thiriez does, however, highlight the art advisory as one kind of business that is still struggling to understand “how and when” due diligence fits into their operations, with many believing AML regulations apply to art sellers but not service providers. Other compliance professionals anticipate HMRC’s enforcement efforts will increase in response to other soft spots in the trade.

Rena Neville, the head of the art division of FSC Compliance, says: “The art market can expect that the nature and amounts of the fines will likely track those being imposed on the property market, which has been regulated much longer than the art market.” She cites recent fines handed out to estate agents not only for failure to register but also for poor customer due diligence and inadequate record-keeping. No matter the particulars, vigilance will continue to come at a premium.

The Scull Collection Sale: A Pivotal Moment in the Art Market’s Co…

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The Scull Collection Sale: A Pivotal Moment in the Art Market’s Co…
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On a crisp October evening in 1973, the hallowed halls of the art world witnessed a seismic shift that would forever change its landscape. The auction of the Scull collection, a meticulously curated assemblage of contemporary art pieces by Robert C. and Ethel Scull, not only shattered records with a staggering $2.2 million sale but also ignited a debate on the commercialization of art and the rights of artists. This event, occurring fifty years ago, underscored the burgeoning power of speculative art collecting, where the value of creativity was increasingly measured by its market potential.

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The Dawn of Speculative Art Collecting

The Scull’s sale marked a pivotal moment in the art market, underscoring a transition towards hypercommercialization. Robert and Ethel Scull, known for their taxi fleet empire, had ventured into the art world with a passion for supporting emerging artists. They amassed works by then-unknown artists such as Andy Warhol, Jasper Johns, Robert Rauschenberg, and Frank Stella, showcasing an uncanny ability to discern the next wave of artistic genius. Their collection, once a labor of love, transformed overnight into a lucrative investment, fetching what would be equivalent to $12 million today.

This landmark sale highlighted the potential of contemporary art as a speculative venture, opening the floodgates for a market where art was increasingly seen as a commodity. The auction not only set new precedents for the valuation of contemporary works but also sparked a widespread debate on the nature of art itself. Was art merely a vehicle for financial gain, or did it hold an intrinsic value beyond its price tag?

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The Aftermath: A New Era in the Art Market

In the wake of the Scull’s sale, the art market witnessed an accelerated shift towards the promotion and rapid sale of contemporary art. Galleries and auction houses began to operate with a heightened sense of urgency, keen on capitalizing on the burgeoning interest in contemporary pieces. This shift was not without its critics, however, as many lamented the loss of art’s soul in the face of its newfound commercial success.

The sale also reignited discussions on the rights of artists, particularly concerning royalties on speculative resales. The artists, whose works had generated significant profits for collectors like the Sculls, found themselves on the sidelines of the financial windfall. Despite the debates and calls for reform, the issue of artist royalties in the context of speculative resales remains a contentious and largely unresolved matter.

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A Legacy of Transformation

Today, the legacy of the Scull collection sale looms large over the art market. It serves as a stark reminder of the moment the art world tilted irrevocably towards a market-driven ethos. As we reflect on the sale’s 50th anniversary, it is clear that the questions it raised about the commercialization of art, the role of collectors, and the rights of artists continue to resonate.

The recent retirement of Juana de Aizpuru, a gallery owner who dominated the Madrid art market for five decades, marks the end of an era for women gallery owners and underscores the transformative journey the art market has undergone since the days of the Sculls. The landscape today is vastly different, shaped by the precedents set during that pivotal auction in 1973. As the art world continues to evolve, the tale of the Scull collection serves as a cautionary tale of the delicate balance between art’s commercial and intrinsic values.

In the end, the story of the Scull collection sale is not just a narrative of financial success but a critical juncture that challenged the art world to reconsider its values and priorities. It opened up a new era in the art market, one focused on the rapid promotion and sale of contemporary art, but also sparked a continuing debate on the very nature of art itself. As we look towards the future, the impact of the Scull’s sale remains a pivotal point of reference in understanding the complex dynamics of the art market.

Exploring the Unpredictably of the Human Body, Cristina Camacho Flays Symmetric Paintings

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Exploring the Unpredictably of the Human Body, Cristina Camacho Flays Symmetric Paintings

“Cuerpo hambriento” (2022), acrylic on canvas, 66 x 52 inches. All images © Cristina Camacho, shared with permission

Cristina Camacho likens canvas stretched across a skeletal frame to skin. Both a protectant and a site for expression, the flesh is one of many layers within the body that the artist peels back to reveal what lies beneath and within. “When I first started cutting the canvas, I was very interested in stopping seeing the canvas as the surface where the paint goes,” she tells Colossal.

In Carne, a series of symmetrical paintings sliced and sculpted into three-dimensional forms, Camacho expands on her earlier bodies of work that explore universal themes around female anatomy, shame, and healing. After being diagnosed with a rare disease and realizing her chances of becoming a mother were limited, though, she began to turn toward the personal, creating as part of reckoning with life-altering news. “My relationship with the work really changed because it became a tool for healing and for understanding how I was feeling both emotionally and physically with my symptoms and my fears,” she says. “The idea was to have a catharsis of my symptoms.”

Standing upwards of five feet, the size of the paintings mirror the artist’s body to allow the viewer to meet each piece face to face. Soft shapes and lines emerge from a central point, and sometimes, Camacho weaves floral motifs into the canvas.  “It’s a self-portrait of my own experience,” she adds.

The artist recently returned to Bogotá after several years in New York, where she’s spending time experimenting in her studio. Although many works begin with precise, delicate grids she draws with a ruler, the rest of the process is more fluid and intuitive. A self-described perfectionist, Camacho considers the act of carving the canvas an exercise in letting go. ” I never know how it’s going to fall, how it’s going to look when I put it back in the wall because I cut them over a table,” she says. “When I put it back on the wall, the canvas just falls, and the painting comes to life.”

Find more of Carne on the artist’s website and follow her latest works on Instagram.

 

a symmetric cut painting on an olive, gridded backdrop. the canvas is woven and features gaps where the material hangs below

“Abismo hacia la nada” (2023), acrylic on canvas, 66 x 52 inches

a detail image of the sculptural components, including bowed canvas that's sliced in precise lines and hangs dramatically in layers

Detail of “Cuerpo hambriento” (2022), acrylic on canvas, 66 x 52 inches

a symmetric cut painting on a purple, gridded backdrop. the canvas is woven and features gaps where the material hangs below

“Eco de un susurro” (2023), acrylic on canvas, 64 x 50 inches

a detail image of the sculptural components, including bowed canvas that's sliced in precise lines

Detail of “Eco de un susurro” (2023), acrylic on canvas, 64 x 50 inches

a symmetric cut painting on a dark purple, gridded backdrop. the canvas is woven and features gaps where the material hangs below

“Womb Fantasy” (2022), acrylic and flashe on canvas, 64 x 50 inches

a detail image of the sculptural components, including bowed canvas that's sliced in precise lines and the woven canvas in purple, pink, and yellow

Detail of “Womb Fantasy” (2022), acrylic and flashe on canvas, 64 x 50 inches

a symmetric cut painting on a pale purple backdrop. the canvas features gaps where the material hangs below

“La Conserva” (2022), acrylic on canvas, 60 x 48 inches

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 Exploring the Unpredictably of the Human Body, Cristina Camacho Flays Symmetric Paintings appeared first on Colossal.

Colossal + Domestika: Learn to Transform a Humble Material with a Trio of Paper Tutorials

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Colossal + Domestika: Learn to Transform a Humble Material with a Trio of Paper Tutorials

From Ruby Silvious’ The Art of Tea Bag Painting

Last week, we announced our new partnership with Domestika to bring you more opportunities to learn from the artists in the Colossal universe.

Today, we’re venturing into one of our favorite mediums with the Colossal Paper Course Bundle. Learn to create lifelike sculptural portraits with Ale Rambar and how Clare Celeste Börsch cuts and collages lush installations that transform any room into a lively garden. Plus, Ruby Silvious explores a more unconventional side of paper as she paints vast landscapes within the small confines of a tea bag.

Head to Domestika to add some creativity to your weekend plans, and check out our ceramics syllabus, too.

 

left: a hand paints a scene on a tea bag. right: a finished beach landscape on a teabag

From Ruby Silvious’ The Art of Tea Bag Painting

a still showing a hand placing a piece of white paper on a portrait of a woman with a green cutting mat behind

From Ale Rambar’s 3D Portraits with Paper Layers

the artist repositions a piece within a large-scale installation of flora and fauna

From Clare Celeste Börsch’s Paper Collage Murals: Create Nature-Inspired Wall Art

a still showing pink paper strips holding a sculptural paper hand in place

From Ale Rambar’s 3D Portraits with Paper Layers

the artist repositions a paper cutout in a mural

From Clare Celeste Börsch’s Paper Collage Murals: Create Nature-Inspired Wall Art

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 Colossal + Domestika: Learn to Transform a Humble Material with a Trio of Paper Tutorials appeared first on Colossal.

GaHee Park Unsettles Still Life Traditions with Surreal, Soured Temptations

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GaHee Park Unsettles Still Life Traditions with Surreal, Soured Temptations

“Drowned Thought” (2023), oil on linen, 90 x 67 inches. Photo by Paul Litherland. All images courtesy of GaHee Park and Perrotin, shared with permission

In a brief email exchange about her work, GaHee Park references freedom several times. The Seoul-born, Montréal-based artist wants to liberate herself from realism and infuse her paintings with the expressive, simplified qualities of abstraction, creating decadent scenes with recurring motifs like eyes and fish. “I like to think about every subject of my work, including animals and human figures, as part of a still life. That gives me more freedom to make images,” she shares.

Working in flat planes of oil on linen, Park envisions surreal tablescapes and moments of intimacy gone awry, and she begins each piece with a preliminary sketch. “Sometimes I keep these drawings for a few years in a drawer until my confidence in the image grows, and I am ready to make it a painting,” she says. “I often use some images or motifs from previous paintings so I can play with familiar forms more freely, exploring variations to go deeper into those subjects.”

Park often returns to flesh, whether it be on the human body, fruit, or fish. Appearing seductive yet spoiled by hordes of ants or incongruous feelings, the more carnal aspects of her works reflect on the pains and pleasures of being alive in the world. In pieces like “Drowned Thought” and “Waiting with the Fishes,” eyes float in glasses filled with colorful liquids, “reflecting different emotions and states of consciousness,” she says. The motif “could be to freeze a particular moment or show multiple moments or states of mind at the same time.”

Fish have a more personal role for the artist. “My grandmother sold fresh fish in a market in Korea, and I have always spent time with (dead) fish and seafood. Observing them from a young age probably makes me want to paint them,” she says. “There’s something familiar about them for me, but they also still seem very alien.”

Park will open her next solo show, Fun and Games, on February 24 at Perrotin in New York and currently has a piece on view in 50 Paintings at the Milwaukee Art Museum. Follow her work on Instagram.

 

four figures appear bisected by thin vines of green leaves. one woman's hand with pointed fingernails rests on a darkened shoulder

“Three Faces and a Shadow” (2021), oil on canvas, 52 x 48 inches. Photo by Tanguy Beurdeley

a tablescape with a green lamp, shrimp cocktail, and cutlery. a cat peeks behind a pink curtain in the backdrop. another cat sits near a champagne flute looking out at rippling waves on the right

“Cat with a View” (2022), oil on canvas, 60 x 80 inches. Photo by Marion Paquette

a painting of a woman resting her hand and hand on a table with a plate of fish in front of her, plus half a lime, and a glass with purple liquid and an eye inside of it

“Waiting with the Fishes” (2023), oil on linen, 25 x 24 inches. Photo by Paul Litherland

two women rest on a table with a blue blanket cloaking their bodies and a red curtain in the background. a vase with white flowers sits on the table along with numerous ants and two glasses with green and pink liquid and eyes

“Half Asleep Night” (2022), oil on canvas, 34 x 41 inches. Photo by Elad Sarig. Image courtesy of the artist and Nassima Landau

a painting fragmented by thin green vines with a nude woman, fish, and a man resting his head in between

“Touch I” (2022), oil on canvas, 40 x 48 inches. Photo by Paul Litherland

a painting of a table with two olives on a toothpick, a fish head with bone, and shrimp in a cocktail glass. A person peeks through the blinds in the background with fingers that resemble shrimp tails

“Seafood Dream” (2020), oil on canvas, 24 x 25 inches. Photo by Guillaume Ziccarelli

thin green vines fragment a painting with green leaves, a nude woman, a nude man, and a figure in black and white

“Touch II” (2022), oil on canvas, 40 x 48 inches. Photo by Paul Litherland

a vibrant bouquet rests on a table with slugs beneath

“Still Life with Slugs” (2022), oil on canvas, 38 x 32 inches. Photo by Marion Paquette

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 GaHee Park Unsettles Still Life Traditions with Surreal, Soured Temptations appeared first on Colossal.

The African art market boom — a myth or a reality? – The Mail & Guardian

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The African art market boom — a myth or a reality? – The Mail & Guardian

Some of those attending this year’s Investec Cape Town Art Fair might be entrepreneurial new collectors looking to buy work from up-and-coming African artists with the intention of turning a profit and diversifying their investment portfolios. 

However, the seemingly unpredictable nature of the art market might act as a deterrent. 

The art market is more complex than other investment markets, such as stocks and government bonds, as art has an intrinsic value that cannot necessarily be quantified and plugged into economic models as easily. 

This makes investing in art a greater risk, as there is no guarantee that the actual returns will be as high as the expected returns. 

Art is classed as a luxury item and its prices are determined by trends, fashion and how much the wealthy are willing to spend on a given work. Higher-priced art can also have significant costs attached, such as a higher buyer’s premium and insurance. 

Collectors can be grouped into two main categories: “pure collectors” and “pure speculators”. 

Pure collectors buy art for its intrinsic, aesthetic value and prestige, which is known as the “utility dividend”.

Pure speculators are predominantly looking to turn a profit. 

Pure collectors are less affected by risk, while speculators are more likely to leave the market in times of uncertainty. When assessing risk, looking to other markets can be helpful. 

Studies comparing the stock and art markets overwhelmingly show that the two are closely correlated, as when the stock market increases the art market also tends to experience a boom. In this sense, art does not lead the market but follows it. 

Despite this tendency to “follow”, there is also great value in analysing the art market itself. According to a statistical report from London-based market analysis company ArtTactic, there was an 8.4% decline in global auction sales of modern and contemporary African artists from 2022 ($87.2 million) to last year ($79.8 million). However, last year saw the second-highest sales total ever. 

Some top African artists saw a dramatic increase in their auction prices last year, with the average price of Marlene Dumas’s work going up by an impressive 201% and Julie Mehretu’s by 129%. 

Conversely, contemporary artists who have been staples of African art, such as Cinga Samson and Lisa Brice, saw a 48.9% and 39% decrease in price, respectively. 

When looking to resell, there are viable options and platforms that can facilitate this process. 

Leading African art auction house Strauss & Co reported a total revenue increase of 2% last year, despite global geopolitical and economic uncertainty. 

As well as this, they were able to attract the interest of new buyers from 35 countries. This makes their market more stable, as even if the local economy dips, their international client base will continue to buy works.

So, what does this information mean for those looking to invest? 

Ultimately, deciding whether to invest in art is dependent on the wants and needs of the investor. 

Those looking to cash in quickly could find themselves coming up short, as while the African market has grown in recent years, it does not come without significant risk. 

For those open to longer-term investments, and who derive pleasure from art ownership, it can be a profitable asset. 

The strategic fusion of art and science in moment marketing

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The strategic fusion of art and science in moment marketing

The strategic fusion of art and science in moment marketing, Marketing & Advertising News, ET BrandEquity




















Representative image (Getty Images

In the age of social media, many moments may suddenly capture the local or global imagination. Such moments serve as the ideal fodder for moment marketing.

To begin with, it’s important to define moment marketing, which is a marketing approach used to boost brand awareness & sales by capitalising on current news, events & trends. Companies leverage ongoing events & trends to communicate brand messaging that resonates with their customers at the right moment.

Several Benefits for Brands

The biggest benefit is that moment marketing represents a cost-effective strategy. However, it only offers the desired results if implemented correctly. A survey by The Wall Street Journal summarised that 69% of online consumers believed the timeliness, relevance & effectiveness of a company’s messaging affected their perceptions of the brand.

To reiterate, timing & relevance are critical for successful moment marketing. In India, Amul has been the pioneer & master of moment marketing. Since 1966, Amul’s ‘utterly butterly’ campaign has taken moment marketing to unprecedented heights of popularity.

Be it politics, sports, movies or current affairs, Amul has given its unique interpretation to highlight the magic of some special moments, subtly promoting its brand without directly naming other entities. It’s no surprise that Amul ads have enjoyed tremendous brand recall over the years &, occasionally, also become news for their witty one-liners.

While there are many reasons why brands must promote moment marketing, here are the top ones:

Creates instant connection: Through trending topics or events of the day, moment marketing helps brands instantly connect with customers. The relatability of the topic makes consumers feel that the brand understands & empathises with their issues & aspirations, fostering an instant connection.

Drives greater engagement: Though the trending event may be temporary, it offers brands a powerful means of connecting with customers, boosting brand awareness & propelling higher engagement & sales. The relevance & timing of the campaign makes all the difference.

Ensures cost-effective marketing: As a low-cost marketing strategy, it does not need an elaborate campaign to derive big benefits. By exploiting trending events or news, brands can avoid spending huge sums on campaign promotions.

Maximising the Messaging

Benefits apart, brands must know how to maximise the messaging impact with moment marketing by:

Being prepared: Since timing is indispensable in moment marketing, brands should always be aware of what’s going on around them. A trend that has just been phased out cannot be used to excite or engage an audience. Keeping this in mind, brands should keep their creative teams on standby to create coherent conversations that ensure greater engagement at the peak of the trend or event. Preparedness also helps companies avoid the risks of saying or doing the wrong things that can end in a moment marketing fiasco.

Staying in step with ongoing events/trends: As moment marketing revolves around underway trends & events, brands must remain active on social media to keep abreast of the latest news, happenings & upcoming trends. Moreover, brands can study the habits & interests of their target audience to pinpoint patterns that may be exploited to curate timely & topical messages. Brands can also track forthcoming events relevant to their brand to create marketing campaigns in advance. Don’t forget that while moment marketing may seem extremely spontaneous, it can be planned much earlier.

Using humour: In any moment marketing campaign, humour can generate instant connect & brand recall. Social media is awash with humorous content & memes that ride the latest trends to connect with consumers. Humour also provides excellent opportunities to generate viral marketing campaigns. Nonetheless, a word of caution. Humorous content should be used with local sensitivities in mind & without disrespecting any community. Memes or content that disregard these guidelines may end up hurting the interests of brands as offended customers will avoid their products.

Adhering safely to the need for speed: Although speed is of essence in crafting & uploading or publicising moment marketing campaigns, marketers must always avoid using sensitive topics or news. Irrespective of how newsworthy these themes may seem, sensitive topics could end up arousing unwanted emotions in some sections, triggering a backlash. Therefore, brands must prepare dos & don’ts about what topics can be used & what should not, thereby avoiding controversies later. Speedy campaigns could be possible if relevant restrictions are in place beforehand.

Leveraging an omnichannel approach: People engage with brands across several channels. As a result, consumers expect that every message they read or hear, regardless of the channel used for dissemination, will reflect the brand persona like the previous messages. Accordingly, an omnichannel approach helps customers engage with the brand across any or all channels while experiencing the standard message on all platforms.

To implement moment marketing successfully, brands should adhere to the above principles. With the right strategies, brands can differentiate themselves from their peers even in hypercompetitive markets while driving consistent communiques & deeper engagement with users.

The silent seller: How AI is revolutionizing marketing

In today’s day and age, consumers are becoming increasingly mindful of their purchasing decisions, not just in terms of the products they buy but also in considering the values and ethics of the brands they support. They are more likely to gravitate towards brands that demonstrate a commitment to sustainable practices and social responsibility. Further, marketers can leverage AI-powered tools to create personalized marketing strategies that effectively resonate with the ethos.

“,”next_sibling”:[{“msid”:107727423,”title”:”Indians less drunk on liquor love after hike in taxes”,”entity_type”:”ARTICLE”,”link”:”/news/marketing/indians-less-drunk-on-liquor-love-after-hike-in-taxes/107727423″,”category_name”:null,”category_name_seo”:”marketing”}],”related_content”:[],”seoschemas”:false,”msid”:107732526,”entity_type”:”ARTICLE”,”title”:”The strategic fusion of art and science in moment marketing”,”synopsis”:”Companies leverage ongoing events & trends to communicate brand messaging that resonates with their customers at the right moment. With the right strategies, brands can differentiate themselves from their peers even in hyper competitive markets while driving consistent communiques & deeper engagement with users.”,”titleseo”:”marketing/the-strategic-fusion-of-art-and-science-in-moment-marketing”,”status”:”ACTIVE”,”authors”:[],”Alttitle”:{“minfo”:””},”artag”:”ETBrandEquity”,”artdate”:”2024-02-16 08:43:03″,”lastupd”:”2024-02-16 08:43:09″,”breadcrumbTags”:[“moment marketing”,”amul”,”marketing”,”Brand awareness”,”branding”,”brand messaging”,”Brand”,”cost-effective marketing”,”marketing strategy”,”marketing campaigns”],”secinfo”:{“seolocation”:”marketing/the-strategic-fusion-of-art-and-science-in-moment-marketing”}}” data-authors=”[” data-category-name=”Marketing” data-category_id=”381″ data-date=”2024-02-16″ data-index=”article_1″ readability=”26.427375108288″>

Companies leverage ongoing events & trends to communicate brand messaging that resonates with their customers at the right moment. With the right strategies, brands can differentiate themselves from their peers even in hyper competitive markets while driving consistent communiques & deeper engagement with users.

  • Updated On Feb 16, 2024 at 08:43 AM IST

imageRepresentative image (Getty Images”>
Representative image (Getty Images

In the age of social media, many moments may suddenly capture the local or global imagination. Such moments serve as the ideal fodder for moment marketing.

To begin with, it’s important to define moment marketing, which is a marketing approach used to boost brand awareness & sales by capitalising on current news, events & trends. Companies leverage ongoing events & trends to communicate brand messaging that resonates with their customers at the right moment.

Several Benefits for Brands

The biggest benefit is that moment marketing represents a cost-effective strategy. However, it only offers the desired results if implemented correctly. A survey by The Wall Street Journal summarised that 69% of online consumers believed the timeliness, relevance & effectiveness of a company’s messaging affected their perceptions of the brand.

To reiterate, timing & relevance are critical for successful moment marketing. In India, Amul has been the pioneer & master of moment marketing. Since 1966, Amul’s ‘utterly butterly’ campaign has taken moment marketing to unprecedented heights of popularity.

Be it politics, sports, movies or current affairs, Amul has given its unique interpretation to highlight the magic of some special moments, subtly promoting its brand without directly naming other entities. It’s no surprise that Amul ads have enjoyed tremendous brand recall over the years &, occasionally, also become news for their witty one-liners.

While there are many reasons why brands must promote moment marketing, here are the top ones:

Creates instant connection: Through trending topics or events of the day, moment marketing helps brands instantly connect with customers. The relatability of the topic makes consumers feel that the brand understands & empathises with their issues & aspirations, fostering an instant connection.

Drives greater engagement: Though the trending event may be temporary, it offers brands a powerful means of connecting with customers, boosting brand awareness & propelling higher engagement & sales. The relevance & timing of the campaign makes all the difference.

Ensures cost-effective marketing: As a low-cost marketing strategy, it does not need an elaborate campaign to derive big benefits. By exploiting trending events or news, brands can avoid spending huge sums on campaign promotions.

Maximising the Messaging

Benefits apart, brands must know how to maximise the messaging impact with moment marketing by:

Being prepared: Since timing is indispensable in moment marketing, brands should always be aware of what’s going on around them. A trend that has just been phased out cannot be used to excite or engage an audience. Keeping this in mind, brands should keep their creative teams on standby to create coherent conversations that ensure greater engagement at the peak of the trend or event. Preparedness also helps companies avoid the risks of saying or doing the wrong things that can end in a moment marketing fiasco.

Staying in step with ongoing events/trends: As moment marketing revolves around underway trends & events, brands must remain active on social media to keep abreast of the latest news, happenings & upcoming trends. Moreover, brands can study the habits & interests of their target audience to pinpoint patterns that may be exploited to curate timely & topical messages. Brands can also track forthcoming events relevant to their brand to create marketing campaigns in advance. Don’t forget that while moment marketing may seem extremely spontaneous, it can be planned much earlier.

Using humour: In any moment marketing campaign, humour can generate instant connect & brand recall. Social media is awash with humorous content & memes that ride the latest trends to connect with consumers. Humour also provides excellent opportunities to generate viral marketing campaigns. Nonetheless, a word of caution. Humorous content should be used with local sensitivities in mind & without disrespecting any community. Memes or content that disregard these guidelines may end up hurting the interests of brands as offended customers will avoid their products.

Adhering safely to the need for speed: Although speed is of essence in crafting & uploading or publicising moment marketing campaigns, marketers must always avoid using sensitive topics or news. Irrespective of how newsworthy these themes may seem, sensitive topics could end up arousing unwanted emotions in some sections, triggering a backlash. Therefore, brands must prepare dos & don’ts about what topics can be used & what should not, thereby avoiding controversies later. Speedy campaigns could be possible if relevant restrictions are in place beforehand.

Leveraging an omnichannel approach: People engage with brands across several channels. As a result, consumers expect that every message they read or hear, regardless of the channel used for dissemination, will reflect the brand persona like the previous messages. Accordingly, an omnichannel approach helps customers engage with the brand across any or all channels while experiencing the standard message on all platforms.

To implement moment marketing successfully, brands should adhere to the above principles. With the right strategies, brands can differentiate themselves from their peers even in hypercompetitive markets while driving consistent communiques & deeper engagement with users.

The silent seller: How AI is revolutionizing marketing

In today’s day and age, consumers are becoming increasingly mindful of their purchasing decisions, not just in terms of the products they buy but also in considering the values and ethics of the brands they support. They are more likely to gravitate towards brands that demonstrate a commitment to sustainable practices and social responsibility. Further, marketers can leverage AI-powered tools to create personalized marketing strategies that effectively resonate with the ethos.

  • Published On Feb 16, 2024 at 08:43 AM IST

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Representative image (Getty Images

In the age of social media, many moments may suddenly capture the local or global imagination. Such moments serve as the ideal fodder for moment marketing.

To begin with, it’s important to define moment marketing, which is a marketing approach used to boost brand awareness & sales by capitalising on current news, events & trends. Companies leverage ongoing events & trends to communicate brand messaging that resonates with their customers at the right moment.

Several Benefits for Brands

The biggest benefit is that moment marketing represents a cost-effective strategy. However, it only offers the desired results if implemented correctly. A survey by The Wall Street Journal summarised that 69% of online consumers believed the timeliness, relevance & effectiveness of a company’s messaging affected their perceptions of the brand.

To reiterate, timing & relevance are critical for successful moment marketing. In India, Amul has been the pioneer & master of moment marketing. Since 1966, Amul’s ‘utterly butterly’ campaign has taken moment marketing to unprecedented heights of popularity.

Be it politics, sports, movies or current affairs, Amul has given its unique interpretation to highlight the magic of some special moments, subtly promoting its brand without directly naming other entities. It’s no surprise that Amul ads have enjoyed tremendous brand recall over the years &, occasionally, also become news for their witty one-liners.

While there are many reasons why brands must promote moment marketing, here are the top ones:

Creates instant connection: Through trending topics or events of the day, moment marketing helps brands instantly connect with customers. The relatability of the topic makes consumers feel that the brand understands & empathises with their issues & aspirations, fostering an instant connection.

Drives greater engagement: Though the trending event may be temporary, it offers brands a powerful means of connecting with customers, boosting brand awareness & propelling higher engagement & sales. The relevance & timing of the campaign makes all the difference.

Ensures cost-effective marketing: As a low-cost marketing strategy, it does not need an elaborate campaign to derive big benefits. By exploiting trending events or news, brands can avoid spending huge sums on campaign promotions.

Maximising the Messaging

Benefits apart, brands must know how to maximise the messaging impact with moment marketing by:

Being prepared: Since timing is indispensable in moment marketing, brands should always be aware of what’s going on around them. A trend that has just been phased out cannot be used to excite or engage an audience. Keeping this in mind, brands should keep their creative teams on standby to create coherent conversations that ensure greater engagement at the peak of the trend or event. Preparedness also helps companies avoid the risks of saying or doing the wrong things that can end in a moment marketing fiasco.

Staying in step with ongoing events/trends: As moment marketing revolves around underway trends & events, brands must remain active on social media to keep abreast of the latest news, happenings & upcoming trends. Moreover, brands can study the habits & interests of their target audience to pinpoint patterns that may be exploited to curate timely & topical messages. Brands can also track forthcoming events relevant to their brand to create marketing campaigns in advance. Don’t forget that while moment marketing may seem extremely spontaneous, it can be planned much earlier.

Using humour: In any moment marketing campaign, humour can generate instant connect & brand recall. Social media is awash with humorous content & memes that ride the latest trends to connect with consumers. Humour also provides excellent opportunities to generate viral marketing campaigns. Nonetheless, a word of caution. Humorous content should be used with local sensitivities in mind & without disrespecting any community. Memes or content that disregard these guidelines may end up hurting the interests of brands as offended customers will avoid their products.

Adhering safely to the need for speed: Although speed is of essence in crafting & uploading or publicising moment marketing campaigns, marketers must always avoid using sensitive topics or news. Irrespective of how newsworthy these themes may seem, sensitive topics could end up arousing unwanted emotions in some sections, triggering a backlash. Therefore, brands must prepare dos & don’ts about what topics can be used & what should not, thereby avoiding controversies later. Speedy campaigns could be possible if relevant restrictions are in place beforehand.

Leveraging an omnichannel approach: People engage with brands across several channels. As a result, consumers expect that every message they read or hear, regardless of the channel used for dissemination, will reflect the brand persona like the previous messages. Accordingly, an omnichannel approach helps customers engage with the brand across any or all channels while experiencing the standard message on all platforms.

To implement moment marketing successfully, brands should adhere to the above principles. With the right strategies, brands can differentiate themselves from their peers even in hypercompetitive markets while driving consistent communiques & deeper engagement with users.

The silent seller: How AI is revolutionizing marketing

In today’s day and age, consumers are becoming increasingly mindful of their purchasing decisions, not just in terms of the products they buy but also in considering the values and ethics of the brands they support. They are more likely to gravitate towards brands that demonstrate a commitment to sustainable practices and social responsibility. Further, marketers can leverage AI-powered tools to create personalized marketing strategies that effectively resonate with the ethos.

“,”next_sibling”:[{“msid”:107727423,”title”:”Indians less drunk on liquor love after hike in taxes”,”entity_type”:”ARTICLE”,”link”:”/news/marketing/indians-less-drunk-on-liquor-love-after-hike-in-taxes/107727423″,”category_name”:null,”category_name_seo”:”marketing”}],”related_content”:[],”seoschemas”:false,”msid”:107732526,”entity_type”:”ARTICLE”,”title”:”The strategic fusion of art and science in moment marketing”,”synopsis”:”Companies leverage ongoing events & trends to communicate brand messaging that resonates with their customers at the right moment. With the right strategies, brands can differentiate themselves from their peers even in hyper competitive markets while driving consistent communiques & deeper engagement with users.”,”titleseo”:”marketing/the-strategic-fusion-of-art-and-science-in-moment-marketing”,”status”:”ACTIVE”,”authors”:[],”Alttitle”:{“minfo”:””},”artag”:”ETBrandEquity”,”artdate”:”2024-02-16 08:43:03″,”lastupd”:”2024-02-16 08:43:09″,”breadcrumbTags”:[“moment marketing”,”amul”,”marketing”,”Brand awareness”,”branding”,”brand messaging”,”Brand”,”cost-effective marketing”,”marketing strategy”,”marketing campaigns”],”secinfo”:{“seolocation”:”marketing/the-strategic-fusion-of-art-and-science-in-moment-marketing”}}” data-news_link=”https://brandequity.economictimes.indiatimes.com/news/marketing/the-strategic-fusion-of-art-and-science-in-moment-marketing/107732526″>

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