Wei Art Collections Multi-Million Dollar Artwork A Hit at the 2020 Future Blockchain Summit
DUBAI, UAE / ACCESSWIRE / January 3, 2021 / An astonishing set of artwork from Wei Art Collections was met with adulation and excitement as it was unveiled last month at the 2020 Future Blockchain Summit held at the Dubai World Trade Center.
At the Summit, Wei showed its one-of-a-kind, multimillion dollar, contemporary private collection of Bitcoin artwork. Dubai’s Future Blockchain Summit is one of the world’s top gatherings of global cryptocurrency organizations, blockchain startups, and government entities.
“Blockchain and cryptocurrency executives from across the globe stood in line to see these stunning pieces,” said Jean Marquette, the designer and producer of the Bitcoin collection. “We strongly believe these Bitcoin artworks could break contemporary art sales records – and could very well outpace the growth of the currency it represents.”
The Bitcoin collection is a celebration of the world’s most important and prominent cryptocurrency. The pieces in this exclusive set are attainable by only uber rich art collectors and technology executives that recognize the value and uniqueness of these pieces.
Wei Art Collections, the Dubai and New York based, exclusive art gallery, was asked by the Summit to share its new pieces. “The collection is a celebration of the world’s most important and prominent cryptocurrency,” said Marquette. “It was an honor for us to be asked by the Summit to share our work as well as an opportunity to display it for an audience that would not only appreciate the beauty of the individual pieces, but the comprehend the collection’s investment value as well,” said Marquette.
Given its value and limited production, very few collectors around the world will be able to attain a piece from the Bitcoin collection.
In addition to this collection, Wei recently produced art of similar style and value depicting the logo of Tesla, one of the world’s true pioneering and most important companies.
Those interested in these beautiful works can view the collection on the Wei Art Collections website.
About Wei Art Collections
With offices in Dubai and New York, Wei Art Collections is amongst the premier contemporary, abstract art designers and producers in the world. Our artists are well-respected emerging talent from Asia, Europe, the United States, and throughout the world coming together to provide collectors, together with corporate and technology leaders, the opportunity to obtain choice selected one-of-a-kind works. Owning an exclusive work from WEI Art Collections, known for its precious contemporary works, will serve as an investment that will go down in history and almost certainly appreciate over time.
Company: Wei Art Collections
Contact: Jean Marquette
Address: Nassima Tower, 4th floor, Sheikh Zayed Road, Dubai, United Arab Emirates
SOURCE: Wei Art Collections
View source version on accesswire.com:
Will Online Art Auctions Be 2021's Hot New Trend in the Art World? – Yahoo Finance
Park West Gallery, the world’s largest art dealer, is thriving and breaking records with their new live-streaming online auctions.
SOUTHFIELD, Mich., Jan. 19, 2021 /PRNewswire/ — Has the global pandemic changed how people are buying art? There is growing evidence to show that art collectors are enthusiastically embracing online auctions as an appealing and safe alternative to purchasing art in-person.
Park West Gallery was one of the first art dealers to pivot to online auctions during the earliest days of the COVID-19 outbreak. Founded in 1969, Park West is the largest art dealer in the world and they have been holding live-streaming online auctions for their collectors over the past nine months.
“We knew collectors would love our new online experience,” said Park West Gallery Founder and CEO Albert Scaglione. “But what we didn’t anticipate is how quickly that segment of our business would grow.”
Since the start of 2021, Park West has seen record sales and attendance at their online auctions. In fact, over the January 15-17 weekend, the gallery sold 1,559 works of art, the largest number of works that Park West has ever sold during an online auction weekend—breaking their previous record set only two weeks ago on New Year’s weekend when a special three-year-old guest auctioneer brought down the hammer on the record-breaking sale.
“There are many benefits of auctioning art online,” said Scaglione. “One of the biggest benefits is the selection you can offer. When we’re auctioning at an event or on a cruise ship, there is a finite amount of art we can fit into the space. But, when we’re online, the variety of art that we can offer to our clients is simply incredible. And we’re taking advantage of that every week.”
One of the highlights of this past weekend was record-breaking sales from two of Park West’s hottest new artists, Ashton Howard and Jon Rattenbury. Howard is a Florida native who has won critical acclaim for his works of “Fluid Realism”—a technique he invented that captures the light and movement of water in a truly unique fashion. Jon Rattenbury, a popular contemporary artist, is well-known for his “dimensional acrylic” paintings, which give his landscapes an otherworldly level of texture and depth.
The January 15-17 weekend also saw record sales for works by the late great Jean-Claude Picot, the renowned Post-Impressionist who passed away in August 2020.
“We’ve really seen a huge uptick in our online art auctions in 2021,” said Park West Principal Auctioneer Jordan Sitter. “I had a client last weekend who knew us from our cruise auctions who had never attended one of our online auctions before. She saw some of our recent press coverage and decided to attend her first one. She ended up spending over $100,000! Art collectors are really responding to this new format.”
This new surge in online art collecting aligns with 2020 research from Barron’s, the Dow Jones & Company magazine, which noted that the COVID-19 crisis could fundamentally boost online art sales and predicted that the shift to online platforms for art collecting could be “both permanent and transformative.”
About Park West Gallery
Park West Gallery is the world’s largest art dealer, bringing the experience of collecting fine art to more than 3 million customers since 1969. Whether it’s masterpieces from history’s greatest artists or the latest artwork from leading contemporary icons, Park West offers something for everyone through its accessible art exhibitions and auctions all over the world. You can learn more about Park West Gallery and its over 50-year history at http://www.parkwestgallery.com
Park West also hosts live-streaming online art auctions every weekend. To learn more about Park West’s online collecting events, visit https://www.parkwestgallery.com/online/
CONTACT: Tom Burns
View original content to download multimedia:http://www.prnewswire.com/news-releases/will-online-art-auctions-be-2021s-hot-new-trend-in-the-art-world-301210933.html
SOURCE Park West Gallery
What is art? – The Concordian
Art has long been a disputed form of self-expression. The topic has garnered debate among philosophers, art historians, and artists, and even has an entire Wikipedia page dedicated to its controversiality.
Many jokes and memes have been made around the notion of art’s subjectivity. Books, such as Leo Tolstoy’s What is art? have attempted to answer the question, while Instagram accounts such as freeze_magazine poke fun at and ridicule how absurd the art industry can often be. And you’ve definitely seen the prank where a group of friends placed eyeglasses on the floor of the museum to observe viewers’ reactions and point out how almost anything can be considered art.
This dispute has veered towards problematic for the reason that it ultimately validates an artist’s career. What one might deem to be worth thousands of dollars can be viewed as a piece of old junk to another. We’ve all heard of the stories of someone selling a famous painting for close to nothing in a garage sale, merely because they did not know its “worth.”
So, let’s look at this etymologically. “Art” is derived from the Latin “ars” meaning “acquired skill” or “craft.” In this sense, it is commonly understood that art requires a certain level of skill in order to achieve a desired aesthetic result. Herein lies the problem. “Aesthetic,” like the notion of “beauty,” is inherently subjective.
Dadaism is an ideal example because it, at its core, rejected standard notions of aestheticism and poked fun at art in society. Let’s take, for example, Marcel Duchamp’s Readymades. The acclaimed artist began using and presenting everyday objects as pieces of art. This absurd approach to art-making helped redefine what could be considered art and challenged the idea that art had to be something beautiful and visually appealing. Instead, demonstrating that art could be intellectually appealing.
Constantin Brâncuși’s infamous 1923 work Bird in Space (L’Oiseau dans l’espace) is another prime example of the challenges in defining an object as art. The sculpture faced a number of legal controversies when the artist tried to have it shipped to the United States. Customs officers did not believe that the work was art — art, at the time, was not subject to import taxes — and instead were charged with a 40 per cent tax for “manufactured metal objects.”
According to an article titled Is it Art? published by Harvard Law, after a number of years of legal debate, Brâncuși’s Bird in Space was part of the first court decision stating that “non-representational sculpture could be considered art.” In part, on the basis that the artist intended for the sculpture to resemble the movement of a bird.
Intention brings us back to the eyeglasses meme mentioned earlier. Had the glasses been placed on a coffee table in your home, you wouldn’t have thought much of them. Having been placed on the floor of the gallery, viewers automatically begin to search for a meaning and begin to decipher what they believe the artist’s intention was.
For this reason, art is and will remain subjective. While there may never be one true answer as to what constitutes art, one thing is certain: it is personal, self-informed, and different for everyone. So, what do you consider a work of art?
Graphic by Taylor Reddam
Artmarket.com: Artprice Global Indices show the strength of Contemporary Art and Drawing in 2020: both segments adapted particularly well to rapid digitization – Canada NewsWire
thierry Ehrmann, President and Founder of Artmarket.com and its Artprice department: “the works that were resold at auction in 2020 generally fetched better prices. Two segments in particular stood out: works on paper (+55%) and Contemporary Art (+48%). However, you have to take into account the method used to calculate our indices and anticipate the fact that they tend to flatten naturally over time“.
Auctions and repeat sales
Auction sales correspond to the visible segment of the Art Market and it’s probably the segment that has best adapted to the consequences of the pandemic by accelerating its switch to an online modus operandi. Artprice’s 2020 of the Art Market Report will soon reveal all the details of this transformation (the publication of our free report is expected in March 2021).
Artprice’s Global Indices are calculated on the basis of a very specific pool of works: lots which have already been sold at public auction. This method of calculation (the repeat-sales method) is considered particularly robust, but it excludes all lots that appear in an auction sale for the first time.
Among the highest value increases recorded in 2020, Artprice was particularly interested in Banksy’s the performance. His acrylic on canvas Weston Super Mare (1999) was acquired for $16,700 in 2006 at Sotheby’s in London and was resold for $978,000 in October 2020 at Bonhams in London. The gain corresponds to an annual return on investment of 34% over 14 years.
Inversely, a small canvas by Raqib Shaw – Untitled (2004) – was acquired for $91,000 in 2008 at Sotheby’s New York, but sold for just $8,750 in 2020 at Wright in Chicago.
Between its last two appearances at auction, Joan Mitchell’s diptych La Grande Vallée VII (1983) multiplied in value 44 times, from $330,000 in 1989 to $14.5 million in 2020. Joan Mitchell was in fact the most successful female artist at auction in 2020, but her prices didn’t just soar last year. Taking into account all of her works sold and resold at auction over the years, Artprice estimates that her prices rose 15% over the last twelve months. This increase is added to the over 2000% value accretion calculated by Artprice using the same method between 2000 and 2019 for all of Mitchell’s work.
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 ©:
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 744,000 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 :
Index of press releases posted by Artmarket with its Artprice department:
Follow all the Art Market news in real time with Artmarket and its Artprice department on Facebook and Twitter:
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
(4.4 million followers)
Contact Artmarket.com and its Artprice department – Contact: Thierry Ehrmann, [email protected]
For further information: tel: +33(0)478-220-000
Pettersson given max fine for Monahan slash – TSN
SkipTheDishes, NHL strike multiyear Canadian partnership – SportBusiness
5 British Columbians under 20 years old battled COVID-19 in ICU in recent weeks – Comox Valley Record
Silver investment demand jumped 12% in 2019
Iran anticipates renewed protests amid social media shutdown
Galaxy M31 July 2020 security update brings Glance, a content-driven lockscreen wallpaper service
Sports19 hours ago
Maple Leafs avoid disaster scenario with Jason Spezza clearing waivers – Yahoo Canada Sports
Sports17 hours ago
Maple Leafs avoid disaster scenario with Jason Spezza clearing waivers – Yahoo Sports
Science23 hours ago
VIDEO: Why Nova Scotia health officials are testing for COVID-19 in a community that's largely been spared from the virus – TheChronicleHerald.ca
Health22 hours ago
Ontario and Quebec report one-day drop in number of new COVID-19 cases – Toronto Star
Health16 hours ago
Survey offers glimpse of what could reopen in Manitoba – Winnipeg Free Press
Health20 hours ago
Orillia hospital to temporarily lead Roberta Place nursing home in controlling COVID-19 outbreak – Global News
Health21 hours ago
Ontario and Quebec report one-day drop in number of new COVID-19 cases – Kamsack Times
Health23 hours ago
News Releases | COVID-19 Bulletin #318 – news.gov.mb.ca