Art
Artmarket.com fosters art market transparency via Artprice subscriptions – Canada NewsWire
In some cases, it is also no longer possible to have any real contact with a given lot before it goes under the hammer. Artprice is therefore redoubling its efforts to offer a complete range of tools that allow its members to follow all the works put up for auction and fully understand the evolution of their prices.
“Online sales have not yet completely proven their credentials” says thierry Ehrmann, President and Founder of Artmarket.com and its Artprice Department. “There are still some traces of mistrust regarding the quality of the lots included in online-only sessions. Notably, there are rumours that estimates are not exceeded as often as in live sales. In any case, the results for 2020 show all the market’s indicators positive territory. Even the most sensitive of them, the unsold rate, has remained perfectly stable”.
Still too early to draw conclusions…
The high-end market has been particularly slow over the past twelve months. For example, Jeff Koons’ annual turnover dropped 97% in 2020. Very few of his major pieces were consigned for sale during the year, and the two that were (with the highest estimates) failed to sell during live (“normal”) sessions. Clearly, owners of Jeff Koons’ works believe it is better to wait.
As William Baumol discussed in his 1986 article Unnatural Value, a sort of monopoly exists for each and every work of art. Owning a single work, or one produced in very few copies, necessarily introduces a form of information asymmetry. Fortunately, this asymmetry can be reduced by having an objective and reliable source of information, such as the one offered by Artmarket.com via its Artprice subscriptions. Its databases systematically list (i.e without any bias or preference) all public auctions of works of art and this enhances clarity regarding the price construction process.
Two types of essential information
Auctions constitute the sector of the art market that is considered the most transparent since lot descriptions as well as the results must be made public. However, not all relevant information is always presented in a catalog, such as, for example, the identity of the former owners of a work. Moreover, the websites of auction operators – even those of the major houses – make it very difficult to search for information on past sales of similar works.
The notion of market “transparency” suggests primarily two types of additional information which must be easily accessible: the characteristics of all the products, but also, for each product, the quantities offered and sought after.
The advantage of the services offered by Artprice subscriptions is that they are based on an exhaustive and structured collection of all the results of public auctions around the world. Our standardization of the main characteristics of artworks – dimensions, year of creation, auction estimates, references to catalogues raisonnés, etc. – makes it easy to identify those that match your precise search criteria.
Because the number of results can be very high, Artprice makes available to its subscribers (Advanced and Professional) a complete set of interactive statistics for each artist. These provide a global and essential overview of past sales that includes chronological price evolution, geographical distribution and breakdowns by price range and category (medium).
Better fluidity… but not better transparency
The digitization of sales catalogs and the proliferation of auction platforms have certainly improved the fluidity of the art market. But transaction costs have not fallen… they have actually risen. Moreover, the information disclosed by Auction Houses is not more detailed. Artprice has however noticed one exception: certain operators have taken to indicating number of bids recorded on each lot during an online sale, thereby providing an additional measure of the market’s appetite.
In order to remain independent, Artprice has decided not to allow bidding directly on its platform, preferring to provide direct links to the websites of partner Auction Houses. Artmarket.com and Artprice are therefore more than ever putting everything in place to provide additional services to those offered by the Auction Houses, by providing all players in the art market with a reliable and impartial information platform.
Artprice wants to ensure that all its subscribers get unlimited consultation of all past sales results (including those catalogued in the Enrique Mayer publications since 1962 and those in Hippolyte Mireur’s famous Dictionary of Art Sales (1700-1900)) and to all future sales, and to all available decision-making tools.
[https://imgpublic.artprice.com/img/wp/sites/11/2021/02/2-artmarket-artprice-transparency.jpg]
Copyright 1987-2021 thierry Ehrmann www.artprice.com – www.artmarket.com
About Artmarket:
Artmarket.com is listed on Eurolist by Euronext Paris, SRD long only and Euroclear: 7478 – Bloomberg: PRC – Reuters: ARTF.
Discover Artmarket and its Artprice department on video: https://en.artprice.com/video
Artmarket and its Artprice department was founded in 1997 by its CEO, thierry Ehrmann. Artmarket and its Artprice department is controlled by Groupe Serveur, created in 1987.
See certified biography in Who’s who ©:
https://imgpublic.artprice.com/img/wp/sites/11/2019/10/biographie_oct2019_WhosWho_thierryEhrmann.pdf
Artmarket is a global player in the Art Market with, among other structures, its Artprice department, world leader in the accumulation, management and exploitation of historical and current art market information in databanks containing over 30 million indices and auction results, covering more than 748,000 artists.
Artprice Images® allows unlimited access to the largest Art Market image bank in the world: no less than 180 million digital images of photographs or engraved reproductions of artworks from 1700 to the present day, commented by our art historians.
Artmarket with its Artprice department accumulates data on a permanent basis from 6300 Auction Houses and produces key Art Market information for the main press and media agencies (7,200 publications). Its 4.5 million ‘members log in’ users have access to ads posted by other members, a network that today represents the leading Global Standardized Marketplace® to buy and sell artworks at a fixed or bid price (auctions regulated by paragraphs 2 and 3 of Article L 321.3 of France’s Commercial Code).
Artmarket with its Artprice department, has been awarded the State label “Innovative Company” by the Public Investment Bank (BPI) (for the second time in November 2018 for a new period of 3 years) which is supporting the company in its project to consolidate its position as a global player in the market art.
Artprice by Artmarket’s 2019 Global Art Market Report published in February 2020 :
https://www.artprice.com/artprice-reports/the-art-market-in-2019
Index of press releases posted by Artmarket with its Artprice department:
http://serveur.serveur.com/press_release/pressreleaseen.htm
Follow all the Art Market news in real time with Artmarket and its Artprice department on Facebook and Twitter:
https://www.facebook.com/artpricedotcom/ (4.9 million followers)
https://twitter.com/artmarketdotcom
https://twitter.com/artpricedotcom
Discover the alchemy and universe of Artmarket and its artprice department http://web.artprice.com/video headquartered at the famous Organe Contemporary Art Museum “The Abode of Chaos” (dixit The New York Times): https://issuu.com/demeureduchaos/docs/demeureduchaos-abodeofchaos-opus-ix-1999-2013
L’Obs – The Museum of the Future: https://youtu.be/29LXBPJrs-o
https://www.facebook.com/la.demeure.du.chaos.theabodeofchaos999
(4.4 million followers)
Contact Artmarket.com and its Artprice department – Contact: thierry Ehrmann, [email protected]
SOURCE Artmarket.com
For further information: Phone number for journalists only: tel: +33(0)478-220-000
Art
Art collector Myriam Ullens killed outside her home in Belgium, allegedly by her stepson – Art Newspaper
Myriam Ullens, a major collector who, with her husband Guy Ullens, supported and championed Chinese contemporary art, was killed outside the couple’s home in the village of Ohain south of Brussels today (29 March) according to multiple reports in the Belgian press. She was 70 years old. The reports claim she was shot by her stepson Nicolas Ullens, who has been detained by police. Her husband, Guy, reportedly survived the incident.
Myriam and Guy were in their car outside their home around 10am when Nicolas fired on his stepmother, who died at the scene, according to La Libre. Myriam and Nicolas had been in a protracted dispute over issues of inheritance, according to multiple reports.
Myriam and Guy Ullens, who married in 1999, have been important and influential art collectors for decades. They started out collecting classical Chinese scroll paintings, but eventually shifted their attention to contemporary art. In 2007, they opened the Ullens Center for Contemporary Art in Beijing—considered at the time to be the first contemporary art museum in China—which showed works from their collection of more than 2,000 works. In 2017 they sold the museum, renamed the UCCA Center for Contemporary Art, to a group of investors; they continued and broadened their collecting activities under the banner of the Swiss-based Fondation Guy & Myriam Ullens.
In 2004 Myriam, who went by Mimi and was a cancer survivor, founded the Mimi Foundation to create centres within hospitals to provide physical and mental therapy for patients undergoing cancer treatment. In 2013 she co-organised an exhibition and benefit auction during Frieze Week in London to support the Mimi Foundation.
“If many of the artists in this project are Chinese that is because of our long and close relationship with them. This is just the tip of our iceberg—that we are continuing to follow and collect intensively with the new generation,” Myriam told Ocula at the time. “A collection is like a living breathing body. It evolves in an organic manner.”
Myriam was born in Cologne, Germany. Following early success in the food industry, she married Guy, a Belgian businessman and baron, and devoted herself to fashion (launching the brand Maison-Ullens) and philanthropy. The couple’s charitable activities also included opening the Ullens School, an educational facility in Nepal.
Nicolas Ullens, a former Belgian state security agent, is one of four children Guy had with his first wife, Micheline Franckx.
The Ullenses’ foundation did not immediately respond to a request for further information.
Art
Major Collector and Chinese Art Patron Myriam Ullens Has Been Shot Dead Outside Her Home in Belgium – artnet News
Myriam Ullens de Schooten, a preeminent collector and well-known figure in the art world, was shot dead yesterday in front of the house she shared with her husband, Baron Guy Ullens de Schooten. Both are major collectors of Chinese art and respected in the art world as the founders of UCCA in Beijing, China.
The murder occurred at 10 a.m. on Wednesday, March 29. Local media have reported that Ullens suffered four bullets to the head, and had died by the time emergency services arrived to the family home in the Belgian village of Ohain. The stepson of the 70-year-old German baroness is reportedly a prime suspect.
The 50-year-old Nicolas Ullens de Schooten, a former state security agent and one of four children, is suspected of shooting his stepmother while she was in a car with his father, who survived the attack. He has been taken into custody for questioning. According to some Belgian reports, the victim and suspect were in an open dispute over an inheritance issue. Local authorities did not immediately respond to Artnet News’s request for further information.
“The vision and passion of Myriam Ullens—her love for art, belief in cultural exchange, and commitment to helping others—are at the core of UCCA’s history and values,” said Philip Tinari, UCCA’s director, in a statement shared on social media. “We are shocked and saddened by her death, and will remember her strength, style, creativity, and generosity as we carry forward the work of the institution that she and Guy so generously founded and nurtured through its first decade.”
Owner of LVMH Luxury Group, collector Bernard Arnault standing with his wife Helene Arnault and Myriam Ullens while at an exhibition at the Louis Vuitton Foundation that was co-organized with the Ullens Center for in 2016. Photo by Bertrand Rindoff Petroff/Getty Images
Born in Cologne in 1952, Myriam, known to friends as “Mimi” Ullens was an active philanthropist, who initiated an education program and school in Nepal. A cancer survivor, Ullens also launched The Mimi Foundation, which was active in cancer wards at eight hospitals in Belgium, France, and Switzerland, providing support to patients going through treatment.
Myriam and Guy Ullens married in 1999 and built out an evolving collection focused on art from China, beginning at first with classical Chinese scroll painting before focusing on contemporary art from China. Their “universal” collection, as it is described on their foundation’s website, includes works by prominent Chinese artists including Huang Yong Ping, Wang Jianwei, Xu Zhen, together with Western art stars like Rashid Johnson, Sterling Ruby, and Tracey Emin; another area of focus in their collection was digital art.
They opened the Ullens Center for Contemporary Art in 2007 to exhibit their collection that numbers around 2,000 artworks; the institution was one of the first of its kind in China. In 2017, the couple sold the museum to a group of patrons and shareholders and it was renamed the UCCA Center for Contemporary Art. They continued to be involved and served on the foundation council, while actively collecting via their Fondation Guy & Myriam Ullens, based in Switzerland. Myriam was also actively involved in luxury brand Maison Ullens, which she founded in 2011. The family is of Belgian nobility; Guy Ullens is a philanthropist as well as a financial services company executive who has been collecting art since the 1960s.
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The Banksy artwork Brace Yourself! has sold for $2,032,000 (£1.6m), more than three times its original estimate, during an auction featuring a performance from the band that inspired the piece.
The anonymous artist created the work in 2010 for the British band then known as Exit Through the Gift Shop, who shared the same name he wanted to use for his 2010 documentary film.
To avoid copyright issues, the group agreed to Banksy’s offer to create a painting for them on the condition they changed their name.
The artwork, a large-scale painting of a grim reaper figure riding in a carnival bumper car, was sold to Miguel Garcia Larios, the owner of Rcnstrct Studio in Hollywood, during an event hosted by Julien’s Auctions in Beverly Hills.
Its original estimate was $600,000 and the sale was preceded by a live performance by Brace Yourself!, fronted by the singer Natalie Zalewska.
Zalewska previously said the sale was about preserving the artwork as a “piece of history”.
The Exit Through the Gift Shop documentary tells the story of Thierry Guetta, a Los Angeles-based Frenchman who videotapes underground art escapades and later finds fame with the moniker Mr Brainwash.
A portion of the proceeds from the sale of the artwork will go to the music charity MusiCares, which provides health, financial and rehabilitation support to people working in the sector.
Also featured in the auction was an original print of Banksy’s Girl With Balloon, which sold for $195,000, and more than 70 artworks from famous names such as the painter Bob Ross, the actor Jim Carrey and the Jane’s Addiction guitarist Dave Navarro.
In early March, Brace Yourself! was displayed in the window of the Hard Rock Cafe in Piccadilly Circus, London.
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