五木田智央の絵画が投機好きなアートとして @ ニューヨークタイムズ GOKITA Tomoo’s Painting as Flip Art @ New York Times
Art Market and Art Flippers
The Value of Murakami’s Works? An Unhappy MURAKAMI Takashi…
MAEZAWA Yusaku, crazy about auctions at Sotheby’s and Christie’s
Mark Bradford + Kerry James Marshall: ‘Black Art’ for American Art Flippers
展覧会の画像一覧：五木田智央 と 平子雄一 @ 東京オペラシティ アートギャラリー
Exhibition Images: GOKITA Tomoo + HIRAKO Yuichi @ Tokyo Opera City Art Gallery
The Machine That Drives the Auction World
New York Times, By Scott Rayburn, Nov. 23, 2018
The multimillion-dollar churn of top-end art auctions sometimes seems as predictable as a washing machine: Each load has its differences, but they can be difficult to discern when the cycle remains the same.
Last week in New York, Christie’s, Sotheby’s and Phillips made a combined $2.1 billion from their twice-yearly auctions of Impressionist, modern and contemporary art.
Last week, that feel-good figure was achieved with the help of material not normally seen in Impressionist, modern and contemporary sales. Prices were also propped up, wherever possible, with hundreds of millions of dollars in financial guarantees.
“It’s all about writing the biggest check. The auction houses are desperate to keep the machine going,” said Wendy Goldsmith, an art adviser who attended the New York sales. “I couldn’t believe the market could absorb that much volume.”
Auction prices for monochrome paintings by the Japanese artist Tomoo Gokita reached a new level when the 2015 work “Club Mature” sold for $807,000. Credit via Phillips
Guarantees nonetheless remain the norm at top-end auctions of contemporary art.
The London-based analysts ArtTactic said this week that the overall value of guarantees for evening sales at Christie’s, Sotheby’s and Phillips increased 42 percent from last November, to $537 million, based on low estimates. Guaranteed lots, financed by the auction houses or third parties, accounted for about 60 percent of overall final sales.
Evan Beard, a national art services executive at U.S. Trust, a wealth management unit of Bank of America, said that it had become routine for his clients to guarantee several lots in a season. Guarantors can be rewarded when they buy — $4 million in the case of the Hopper at Christie’s — or enjoy a percentage of the “overage” above the guarantee if they are outbid.
“They’re going to be a more common tool — it’s the market becoming more efficient,” he said. If you were going to buy a picture, he added, why not get a discount, or some of the overage?
New York’s auction machine is certainly functioning efficiently, particularly for contemporary art, which generated more than half the week’s $2.1 billion total.
At Phillips on Thursday, the day sale — the lower-priced sector where the auction houses make their most consistent profits — raised $25.5 million, with 82 percent of its 284 lots successful. Prices for monochrome paintings by the Japanese artist Tomoo Gokita reached new level when the 2015 canvas “Club Mature,” showing a quartet of models with blanked-out faces, sold for $807,000.
Underappreciated names, particularly nonwhite and female artists, are driving growth in the market. The Wednesday-evening contemporary sale at Sotheby’s was judiciously on trend, including works such as Jack Whitten’s 1985 abstract “Ancient Mentor I,” which sold for $2.2 million, double the low estimate and a new high for the artist.
Some established market darlings — the sort of artists who tend to attract third-party guarantees — were proving a harder sell. Two large-scale monochrome abstracts by Christopher Wool, works which have previously been steady sellers at auctions and fairs, were unsold at Christie’s and Phillips. Both had been estimated at about $4 million.
“The market is very picky,” Todd Levin, an art adviser based in New York, said, adding that more individuals from the finance world seemed to be looking to profit from third-party guarantees.
“They think that art is a business easy to game,” Mr. Levin said. “It’s become the last stop in Vegas before getting on a plane. But the odds are still with the house.”
20TH CENTURY & CONTEMPORARY ART DAY SALE
NEW YORK AUCTION 14 NOVEMBER 2018
signed, titled and dated “CLUB MATURE Tomoo Gokita 2015” on the reverse acrylic gouache on linen 76 x 102 in. (193 x 259.1 cm.)
Executed in 2015.
Estimate $250,000 – 350,000
SOLD FOR $807,000
Bill Brady Gallery, Miami
Acquired from the above by the present owner
Miami, Bill Brady Gallery, DAMAGE CONTROL, November 30, 2015 – January 9, 2016
タカ・イシイギャラリーは、香港の湾仔（ワンチャイ）地域に新しいコンセプトのリテールショップ、SHOP Taka Ishii Galleryをオープンした。「ギャラリー」と「ショップ」の境界を互いに浸食し合う実験的なスペースでは、五木田智央の立体作品を展示するこけら落とし展が開催中。会期は2019年3月16日まで。
1994年、東京に開廊した日本を代表する現代美術のギャラリー、タカ・イシイギャラリーは11月24日、香港の湾仔（ワンチャイ）地域に新しいコンセプトのリテールショップ、SHOP Taka Ishii Galleryをオープンした。
photo via BT:
artnet auction, newsletter 2019/5/3
Typical US art flipper. Work by Gokita bought in 2017. Wants to sell the same work 2 years later via artnet auction.
Japanese, b. 1969
Mature #2, 2017
Acrylic and gouache on linen
76 x 64 in. (193.04 x 162.56 cm.)
Signed, titled and dated on the reverse
Lot ID 127921
6 days, 2 hours, 37 mins
May 09 at 12:20 p.m. (EDT)
Creative Commons Attribution Noncommercial-NoDerivative Works
photos: cccs courtesy creative common sense