A South Korean art critic was astounded when he saw the private art collection of the late Samsung Electronics chairman, after being asked to value it this year.
“The reason many go to the Louvre is to see the Mona Lisa, and the Sistine Chapel, the Creation of Adam. There are valuable masterpieces that can compare to that in the Lee collection,” said the critic, who declined to be identified.
The head of the Samsung conglomerate, Lee Kun-hee, died in October leaving an art collection estimated to be worth more than 2 trillion won ($1.76 billion), including masterpieces by Picasso, Monet and Warhol, the critic and another person directly involved in the appraisal told Reuters.
Former culture ministers and art groups have called for a new law that would allow the family to donate the art in lieu of at least part of the 11 trillion won ($9.72 billion) bill for inheritance tax for listed stockholdings alone they are expected to be landed with.
The aim is to keep the collection in South Korea for exhibition. Putting it up for auction would inevitably mean much going overseas, they said.
“If we don’t have a system in place allowing tax payment by artwork, we’ll lose the collection,” said Lee Kwang-soo, president of the Korean Fine Arts Association.
The family’s law firm, Kim & Chang, has engaged three art groups to appraise the collection, which includes Korean treasures.
According to the two people involved in the appraisal, the collection of about 12,000 items includes works covering the “flow of Western art history” by Renoir, Chagall, Alberto Giacometti, Rothko, Gerhard Richter and Damien Hirst, with some pieces valued at more than 100 billion won ($88 million).
The collection’s total price tag of an estimated 2 trillion won ($1.76 billion) or more far exceeds the $835.1 million that the Rockefeller collection sold for at Christie’s in 2018.
The two people involved in the appraisal declined to be identified as the proceedings were private. Kim & Chang declined to comment.
AIMING FOR MASTERPIECES
Lee had a particular collection philosophy as he accumulated over about 40 years, wrote Lee Jong-seon, a former deputy director of the Samsung Group’s museum, the Leeum Gallery, who helped Lee build his collection, in his book “Lee Collection”.
His father, Samsung founder Lee Byung-chul, preferred ancient Korean art and did not buy items he deemed too expensive. But Lee Kun-hee “did not weigh the price”, rather thinking: “If there are masterpieces, the status of the entire collection will rise.”
“Lee Kun-hee’s philosophy was to aim for masterpieces … I think his collection philosophy also translated into Samsung’s management ideology of being No. 1,” Lee wrote.
The Lee family is expected to report on the inheritance tax bill by April.
The family is expected to try to pay the bill in instalments over five years in an effort to retain his shareholdings in Samsung affiliates to maintain control of the conglomerate, in particular global tech giant Samsung Electronics.
Some countries allow taxes to be paid with artwork and offer tax breaks for art donations but not South Korea, said lawyer Park Joo-hee, who specialises in the arts.
Art experts blame the lack of such tax rules for leaving South Korea’s National Museum of Modern and Contemporary Art “without even a single Picasso engraving”.
The president of Art Market Research Institute, So Jin-su, said that based on the budget for artwork bought by South Korean museums in 2019, it would take the entire museum network up to 132 years to buy the Lee collection.
Draft legislation was introduced after Lee’s death but there has been little progress on it. Even if passed, it is not clear if the family would want to donate the collection in return for tax breaks, given the sums it might fetch, experts say.
Choe Byong-suh, visiting professor at Sungkyunkwan University, said he hoped some arrangement could be worked out to keep the collection in South Korea.
“This is a rare chance to establish a landmark museum,” he said.
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Imaginations, creativity of Mountview students on display at Cariboo Art Beat
Creative, imaginative artwork of students from Mountview Elementary School will be on public display at the gallery of Cariboo Art Beat until April 9.
“The students of Mountview elementary were all invited to participate in an art contest,” Tiffany Jorgensen said, an artist at Cariboo Art Beat.
Each class was separately judged by three professional artists at Cariboo Art Beat, Jorgensen said, based on the students’ creativity, techniques, use of space and originality.
“It was extremely difficult to select pieces from the abundance of beautiful art presented,” she said. “There is so much talent and fantastic imaginations.”
The artist of each selected piece was given formal invitations to their art show to distribute to whomever they choose, and Jorgensen said anyone is free to view the beautiful artwork throughout until April 9.
Honoured at the show were works from local artists Ryker Hagen, Annika Nilsson, Rylie Trampleasure, Angus Shoults, Izabella Telford, Isabella Buchner, Kai Pare and more.
“Come view their wonderful pieces to get a glimpse into the minds of our creative youth,” Jorgensen said.
“It’s been so fun. The kids have come in and seen their work on display with their grandparents, parents, and they’re all so excited.”
Following up on the success of the Mountview art show, Jorgensen said more elementary schools have been invited to participate.
April will feature the works of Nesika and Big Lake, followed by Marie Sharpe and Chilcotin Road next month.
Cariboo Art Beat is located at 19 First Ave., under Caribou Ski Source for Sports’ entrance on Oliver Street.
Source:– Williams Lake Tribune – Williams Lake Tribune
Launching the conversation on Newfoundland and Labrador art history
ST. JOHN’S, N.L. —
“Future Possible: An Art History of Newfoundland and Labrador” is a book that has been a long time coming, Mireille Eagan says.
While working at the Confederation Centre Art Gallery in Prince Edward Island, Eagan curated an exhibition marking the 60th anniversary of Newfoundland and Labrador joining Confederation with Canada.
“As I was researching, I noticed that there was very little that existed in terms of the art history of this province,” she said. “There wasn’t even a Wikipedia article.”
Noticing this large gap, “Future Possible” was a book that needed to exist, she said.
As the 70th anniversary approached in 2019, Eagan, now living in St. John’s and working as curator of contemporary art at The Rooms, envisioned filling that gap.
Over two summers, The Rooms held a two-part exhibition. The first looked at the visual culture and visual narratives before the province joined Confederation and the second focused on 1949 onward, Eagan said.
“At its core, it was asking, what are the stories we tell ourselves as a province? It was looking at iconic artworks, it was looking at texts that have been written about this place, and it put these works in conversation with contemporary artworks,” Eagan said.
In the foreword to the book, chief executive officer of The Rooms Anne Chafe described it as a complement to the exhibition and a project that “does not seek to be the final say. It seeks, instead, to launch the conversation.”
History and identity
One example of that conversation between the past and the present mentioned by Eagan is the work of artist Bushra Junaid, who moved to St. John’s from Montreal as a baby. The daughter of a Jamaican mother and Nigerian father, Junaid said her experience growing up in the province in the 1970s, where she always the only Black child in the room, was not like most.
“All of my formative years, my schooling and everything, took place in St. John’s,” she said. “It’s very much shaped my current preoccupation.”
Her interest in history, identity and representation led her to making “Two Pretty Girls…,” which used an archival photograph of Caribbean sugarcane workers from 1903 with text from advertisements for sugar, molasses and rum from archived copies of The Evening Telegram collaged over the women’s clothing.
In her essay “Of Saltfish and Molasses” published in “Future Possible,” she described the work as “(allowing) me to place these women and their labour within the broader historical context of the international trade in commodities that underpinned Caribbean slavery and its afterlife.”
It’s a direct connection between Newfoundland and people in the Caribbean, a historical line not often drawn through the context of the transatlantic slave trade, but one she knows personally through the stories told by her mother, Adassa, about their ancestor, Sisa, who “as a teenager, survived the horrors of the Middle Passage, enduring the voyage from West Africa to Jamaica in the hold of a slave ship (Junaid).”
A book like “Future Possible” allows people to interpret themselves and their past, present and future, Junaid says.
“I appreciate the ways in which they really worked to make it as broad and diverse as possible,” she said. “It’s also striving to tell the Indigenous history of the place, the European settler history … and then also looking for … non-Western backgrounds such as myself. It’s enriching.”
What shapes us
St. John’s writer Lisa Moore contributed an essay called “Five Specimens from Another Time” that weaves together moments from her own life, the province’s history and current realities and the art that has inspired her over the years.
“It’s really interesting to me to see all this work of people that I’ve written about in the past and whose work influenced me, even in my writing of fiction, and then newer artists,” Moore said. “I just think that the book is a total gift.”
With such a rich cultural history ready to be written, she imagines “Future Possible” is just the first of what could be many books about art in the province now that the “ice is cracked.”
“The writers that (Eagan) has chosen to write here are also really exciting critics from all over the province, talking about all kind of different periods in art history,” she said.
As time passes, the meaning of the works in the book becomes richer, she said.
Mary Pratt’s 1974 “Cod Fillets on Tin Foil” and Scott Goudie’s 1991 “Muskrat Falls,” for instance, are two images with seemingly straightforward and simple subject matter. But any viewer looking now, who is aware of the cod moratorium and the Muskrat Falls hydroelectric dam, would find it difficult to see and interpret these images outside of those contexts.
“Artists, writers, filmmakers … they’re keen observers of culture and the moment that we live in,” Moore said. “They present things that are intangible like the feeling of a moment, or the culmination of social, political and esthetic powers that come together at a given time and shape us.”
“Future Possible: An Art History of Newfoundland and Labrador” is available online and in stores.
Parrott Art Gallery goes virtual to help flatten the curve – The Kingston Whig-Standard
Feeling stir crazy because of COVID and the latest lock-down? Take a virtual trip to Morocco!
On Wednesday, April 14 at 2:30 p.m., the Parrott Gallery will host Lola Reid Allin’s Armchair Traveler online presentation: “Morocco: Sea, Sand and Summit”. Allin is an accomplished photographer, pilot, writer and speaker. Travel with her through the land of dramatic contrast and hidden jewels, busy markets and medieval cities, and enjoy some virtual sun.
For more information and to register for this free online event, please visit bellevillelibrary.ca/armchair-traveller.php. The Armchair Traveller Morocco photography exhibit is also available to view through the Parrott Gallery website until mid-May.
Even though our gallery is currently closed to the public, our exhibitions are all available to view online. Sam Sakr’s show “The Housing Project” is certain to bring a smile to your face. His collection of mixed media artwork will take you to a playful land of fantastical creatures that inhabit imaginary, stylized cityscapes. If your spirit needs uplifting, you need to see to see this show. I hope that everyone will be able to view Sakr’s work both online and then in our gallery after the lock-down ends in May. Without a doubt, it will be worth the wait to see it again in-person when we re-open.
Another exhibition that you can currently visit on the Parrott Gallery website is the group show “Spring Sentiments: a Reflection of Art in Isolation”. This was a collaborative effort by the 39 artists who submitted their work, our staff who put the show together in the gallery and online, and our guest curator Jessica Turner. We are thrilled that Jessica was able to transcribe her experience with this show into a final paper for her Curatorial Studies BFA degree at OCADU.
The fact that we have had to close our doors just as this show was opening is a sad reflection of the theme as the audience must now reflect on this artwork at home, in isolation. The up-side to viewing this exhibition online is that one can read the artist statements that accompany the work and get a more in depth view of the artists’ perspectives. We encourage viewers to support our artists by sending in their comments and to vote for their favourites in the show by following the appropriate link on the webpage.
When you can’t come in to our building, the Parrott Gallery will bring the artwork to you. And then when the sun and flowers come out in May, and when it is safe to return to our gallery on the third floor of the Belleville Public Library, we hope to see you all again.
For questions about our online talk, our shows, or to purchase any of the artwork please call us at 613-968-6731 x 2040 or email us at firstname.lastname@example.org.
Wendy Rayson-Kerr is the Acting Curator at the John M. Parrott Art Gallery.
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