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What an unusual auction says about the art market

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Penny pinch, a Chicago street artist, likes to have fun with art-world finances. His work—from murals to paintings to tote bags made in collaboration with the Chicago Cubs baseball team—uses scavenged or donated materials (hence the name). His latest experiment, hosted at A Very Serious Gallery, in the city’s north-west, is in pricing.

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On December 16th Mr Pinch is due to sell 15 paintings, one of which is pictured, in a Dutch auction. Each will start at a price of $3,000, which will be cut by $100 every hour until a buyer emerges. According to Mr Pinch and Allan Weinberger, the gallery’s owner, it is the first-ever such auction of new art (a claim your correspondent could not disprove).

Dutch auctions are more commonly used to sell homogenous goods, such as cut flowers in 17th-century Holland or government bonds today. Their use for unique works is considerably rarer. Mr Pinch says the auction is “an opportunity for people who can’t normally buy large pieces of work”. It is also an opportunity to poke fun at the art world.

The opportunity may come at a cost. As Eric Budish of the University of Chicago notes, the trick with a Dutch auction is knowing where to set the starting price. For Treasuries, the range is established by looking at previous auctions. For Mr Pinch’s art, there is no equivalent, meaning he risks setting the price too low and leaving money on the table.

Mr Pinch is unconcerned by this, as he has something else in mind. At a regular auction, a potential buyer is influenced by the crowd. Clamour for an offering indicates a higher potential resale value and a greater status gain if the auction is won. These sorts of considerations are “icky”, reckons Mr Pinch, which is why he likes Dutch auctions, where they are not possible. When somebody else bids, it is too late. Potential buyers must focus on how much they value the art, not how much others do.

Yet there is an irony to the experiment. By launching the first Dutch auction for art, Messrs Pinch and Weinberger may generate enough hype to attract exactly the sort of buyers they wish to repel—those motivated more by status than a love of art.

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40 Random Bits of Trivia About Artists and the Artsy Art That They Articulate – Cracked.com

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40 Random Bits of Trivia About Artists and the Artsy Art That They Articulate  Cracked.com



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John Little, whose paintings showed the raw side of Montreal, dies at 96 – CBC.ca

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John Little, whose paintings showed the raw side of Montreal, dies at 96  CBC.ca



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A misspelled memorial to the Brontë sisters gets its dots back at last

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LONDON (AP) — With a few daubs of a paintbrush, the Brontë sisters have got their dots back.

More than eight decades after it was installed, a memorial to the three 19th-century sibling novelists in London’s Westminster Abbey was amended Thursday to restore the diaereses – the two dots over the e in their surname.

The dots — which indicate that the name is pronounced “brontay” rather than “bront” — were omitted when the stone tablet commemorating Charlotte, Emily and Anne was erected in the abbey’s Poets’ Corner in October 1939, just after the outbreak of World War II.

They were restored after Brontë historian Sharon Wright, editor of the Brontë Society Gazette, raised the issue with Dean of Westminster David Hoyle. The abbey asked its stonemason to tap in the dots and its conservator to paint them.

“There’s no paper record for anyone complaining about this or mentioning this, so I just wanted to put it right, really,” Wright said. “These three Yorkshire women deserve their place here, but they also deserve to have their name spelled correctly.”

It’s believed the writers’ Irish father Patrick changed the spelling of his surname from Brunty or Prunty when he went to university in England.

Raised on the wild Yorkshire moors, all three sisters died before they were 40, leaving enduring novels including Charlotte’s “Jane Eyre,” Emily’s “Wuthering Heights” and Anne’s “The Tenant of Wildfell Hall.”

Rebecca Yorke, director of the Brontë Society, welcomed the restoration.

“As the Brontës and their work are loved and respected all over the world, it’s entirely appropriate that their name is spelled correctly on their memorial,” she said.

The Canadian Press. All rights reserved.

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