81-100 of 110 results  for:

  • Art Markets x
Clear all

Article

Roberta Rosenthal Kwall

Legal doctrine concerning authors’ rights that protects a creator’s personal, as opposed to economic, interests. These protections include the creator’s right to appropriate attribution and the right to have the integrity of one’s work properly maintained (see also Art legislation).

The law governing authors’ rights in the USA reflects an incomplete understanding of the motivations for human artistry. Copyright law, the body of law governing authors’ rights, rewards economic incentives almost exclusively. From the beginning, American copyright law has been designed to calibrate the ideal level of economic incentive to promote creativity. With the exception of a narrow form of protection for certain types of visual art, copyright law in America does not provide authors with legal protection such as the right to have their works attributed to them, or the right to have their works maintained and presented in a manner consistent with their artistic vision. These rights are known, respectively, as the right of attribution and the right of integrity and they are part of the larger doctrine of moral rights law....

Article

Pamela H. Simpson

(b Hartford, CT, April 17, 1837; d Rome, March 31, 1913).

American financier and collector. Born to a wealthy family, Morgan grew up in Hartford and Boston, but moved to London in 1854 when his father, Junius, joined an Anglo-American merchant bank there. Educated in Switzerland and Germany, the younger Morgan, known as Pierpont, also learnt the family business first hand, serving an apprenticeship in New York. Over a period of three decades from the late 19th century to the early 20th, the Morgans provided the capital that a booming American economy needed, and created such a trusted name in banking that they could not only guarantee the stability of corporate investments, they even rescued the US government twice, once in 1895 and again in 1907. They organized giant industrial corporations, including the American railroads, financed US Steel, General Electric, International Harvester, and AT&T, among others. At a time when there was no central bank, Morgan provided control and stability. J. Pierpont Morgan was also an avid collector who supported the Metropolitan Museum, the American Museum of Natural History, and the Metropolitan Opera, all in New York, and the American Academy in Rome, as well as the Wadsworth Atheneum in Hartford, CT. He built a private library to house his collections of rare books, manuscripts, and drawings, but by ...

Article

A. Deirdre Robson

In 

Article

Thomas P. McNulty

International contemporary art gallery based in New York City. The gallery was founded by Arnold (‘Arne’) Bruce Glimcher (b 1938), who studied painting at the Massachusetts College of Art and Design in Boston before going on to graduate school from Boston University (combining art history with studio art). The gallery takes its name from Arne’s father, Pace Glimcher, a Russian immigrant rancher who settled in Duluth, MN. Arne’s mother, Eva, who was also a Russian immigrant, left Minnesota in the mid-1940s for Brookline, MA, whose proximity to Boston proved a great boon to Arne’s cultural exposure and development.

Pace Gallery opened first at 125 Newberry Street, Boston, in 1960, where it featured New England–based artists, including Albert Alcalay (1917–2008), David Berger (1920–66), and Lawrence Kupferman (1909–82), among others. Glimcher’s keen sense of marketing became evident in the gallery’s early years; he managed to establish a relationship with Louise Nevelson’s New York dealer—the Martha Jackson Gallery—and presented the artist’s works in Boston. By late ...

Article

Andrew McClellan and Linda Whiteley

French family of dealers and auctioneers.

(b 1743; d Paris, 1814).

He trained as a painter and was a member of the Académie de St Luc, but he devoted his professional life to dealing in fine art, being responsible for many of the spectacular sales of the final decades of the ancien régime in France. During the 1770s he held auctions at his own Hôtel d’Aligre, Rue St-Honoré, Paris. In 1779 he bought the Hôtel de Bullion, Rue Platrière, and transformed its rooms into the most elegant and modern auction house and gallery in the city; top-lighting was installed over the main gallery space, a novel feature later imitated by his rival, Jean-Baptiste-Pierre Le Brun at his gallery in the Rue de Cléry. Among the important collections that Paillet auctioned during this period were those of the Duc d’Aumont (1782), Blondel d’Azincourt (1783), the Comte de ...

Article

A. Deirdre Robson

(Bierne)

(b New York, Jan 31, 1900; d New York, Aug 23, 1982).

American dealer, collector and painter. She came from a wealthy New York family and married Schuyler Parsons, a rich socialite, in 1919. In 1922 she obtained a divorce in Paris. She remained there for ten years, studying with Emile-Antoine Bourdelle and Ossip Zadkine. Financial constraints eventually forced her return to the USA in 1933. In 1936 she moved from California to New York and had her first one-woman show at the Midtown Galleries, the first of ten exhibitions there over the next 20 years. She subsequently sold on commission for this gallery. In 1938 she went to work in the gallery run by Mary Sullivan, wife of Cornelius J. Sullivan, one of the founders of MOMA, New York.

In 1940, after Mary Sullivan’s death, Parsons was asked to start a contemporary gallery within the Wakefield Bookshop. Here she began to show the work of new American artists such as Adolph Gottlieb...

Article

Sophie Vigneron

The concept of patrimony is multi-faceted; its original narrow legal sense of inherited goods has widened to include all objects, and sometimes places, that are culturally significant for an individual, a community, or a state and that are transmitted from one generation to the next. It also implies individual or collective cultural identities and memories, linking past and present, thus contributing to nation-building and statehood.

Patrimony can be used as a collective term for tangible artefacts (archives, antiques, paintings, furniture, sculptures, religious items, archaeological finds, ethnological items, works of art and craft, and sometimes human remains), unlike cultural heritage, which also refers to intangible heritage (knowledge to produce traditional craft, oral traditions, music, performing arts, religious practices, social rituals . . .). There is a strong connection between tangible and intangible heritage as the latter gives its value to the former. Several conventions drafted under the aegis of UNESCO (United Nations Educational Scientific and Cultural Organization; a leading force in the development of cultural heritage protection) have recognized this connection....

Article

Claire Brisby

In 

Article

Article

Molly K. Dorkin

[Messrs Phillips & Son; Phillips, Son & Neale; Phillips de Pury & Company]

Auction house founded in London in 1796 by Harry Phillips (d 1840), formerly senior clerk to James Christie (1730–1803). Phillips’ inaugural sale of household furniture was held on 23 April 1796. The auctioneer soon distinguished himself by combining the skills he had learnt from observing Christie’s methods with a talent for ceremony and showmanship. Many of his innovations, such as holding lavish evening receptions for his clients and translating the business of sales into theatre, are widely employed by auction houses today. In his first year of business Phillips oversaw 12 auctions. He was soon charged with selling some of the most distinguished collections of the era, including those of Marie Antoinette, Stanisław II Poniatowski of Poland, and Napoleon Bonaparte. In 1823 Phillips was commissioned to auction the collection at Fonthill Abbey, a sale originally offered to Christie’s. Instead, it was Phillips who conducted an epic 30-day sale of the contents of the house. Some 7200 people attended the pre-sale viewing. Phillips also presided over the only auction ever to be held in Buckingham Palace, in ...

Article

Jeffrey Boloten

Since the invention of photography was officially announced in 1839, the continuous and determined efforts to create and develop a market for photography have always been inextricably linked to photography’s very struggle for legitimacy as an art form. The invention of photography drew a multitude of negative reactions from artists and critics of the time. Photography, being a mechanical means of reproduction, was much linked to the anxieties generated by the Industrial Revolution, and the threat of the mechanization of all artistic endeavours. Photography was also seen as a very real commercial threat to the lucrative trades of portrait painters and miniaturists. Although the art establishment, as a whole, preferred to characterize this new practice as merely an artistic tool, and not an actual art form in its own right, photography did manage to find a modicum of recognition within the 19th-century European art world. Photographic still-lifes by Jules Boitouzet (...

Article

Bénédicte Martin

(b Les Champs-Géraux, Côtes d’Armor, Aug 21, 1936).

French businessman and collector. A self-made man of modest origins, Pinault expanded a small family timber business into a commercial empire: the PPR (Pinault Printemps Redoute) group, amalgamated in 1994. In 2015 he had an estimated fortune of $14 billion and, according to Forbes, was one of France’s most important businessmen worldwide.

In 1998 Pinault became involved in the art market when he purchased the auction house Christie’s. At the same time he began buying contemporary art and formed one of the key international collections in this field. In 2000 he announced his decision to establish a museum on the Ile Seguin, in Boulogne-Billancourt near Paris, to exhibit the works in his possession. Pinault presented this initiative as a new model for supporting contemporary art through the involvement of collector-patrons. His goal was both to stimulate renewed interest in contemporary art in France and to propose new forms of partnership between the public sector and private sponsors. Pinault decided finally to abandon the Ile Seguin project because bureaucratic obstacles and political manoeuverings caused unacceptable delays....

Article

Two circulation models that constitute the art market: a primary market that structures the initial launch of an artist’s work and a secondary, or resale, market. Primary and secondary markets exist within the context of the Art market, in which works of art are exchanged for money or barter, allowing for creative value to be measured against other investment alternatives.

The art market emerged from the cultural and economic changes after the Reformation, especially in the northern Netherlands. When art became divorced from religious worship, the tradition of ecclesiastical patronage ceased. During this same period, there was an expansion of the Protestant mercantile class, who became the new art buyers. For the new bourgeois middle class, art served as a symbol of social achievement. Artists began to challenge their roles as mere craftsmen and demand that their creations be considered intellectual property. Founded in 1648, the Académie Royale de Peinture et Sculpture (...

Article

Michael Jaffé

Term used for the record of ownership of movable works of art. A complete provenance provides an accurate account of the locations of a work of art from the time and place of its manufacture to the present. The nearer such a pedigree approaches this all too seldom state (due to the vicissitudes of chronicling a rarity), the more secure the attribution of the work is likely to be. To elicit plausible provenances from often confusing data, or lack of data, is a necessary part of the complex history and psychology of collecting and cataloguing art works. Not unusually, it is hampered either by over-ambitious, careless or false claims or by the complete suppression of provenance information, as is often the case with illegally excavated artefacts and smuggled works of art. On occasion, historically quite consistent provenances, not merely fanciful ones, become attached to copies made after the originals have changed addresses or even disappeared from view; for example in ...

Article

Luc Renneboog

Unprecedented high prices commanded for an artist’s work at auction are frequently reported by the popular press. A record sale at US$450.3 million (with a hammer price of US$400 million) for the Salvator Mundi painting (allegedly) by Leonardo da Vinci was auctioned by Christie’s on November 15, 2017. This auction record exceeded the previous auction records of the same year (namely, Twelve Landscape Screens by Qi Baishi, and Untitled by Jean-Michel Basquiat) by more than 300%. The media not only report on absolute price records but also on records by renowned artists and the breakthroughs of artists whose work reaches thresholds of US$1 million, $5 million, or multiples thereof for the first time.

In the light of the prices above, one could wonder why records continue to be broken. A first reason is that the fundamental value of an art object is difficult to determine. The value of an asset is the sum of the discounted future cash flows, but given the absence of a rental market for art, this method cannot be used and one is largely reliant on past prices to set this number. Furthermore, even if one believes that an art object is a store of value and is likely to retain its value in the future, a collector may still pay a higher price because owning an art object may have personal utility. This utility could be called an “aesthetic dividend,” a term which alternatively captures the value assigned to the ability to enjoy the art object (e.g. a painting on one’s wall) on a daily basis; a “dividend on cultural capital” as owning top art may give the collector access to global cultural or business elites; or a “showing-off dividend” when media attention triggered by very high prices caresses one’s ego....

Article

Noémie Goldman and Kim Oosterlinck

Term for the return of lost or looted cultural objects to their country of origin, former owners, or their heirs. The loss of the object may happen in a variety of contexts (armed conflicts, war, colonialism, imperialism, or genocide), and the nature of the looted cultural objects may also vary, ranging from artworks, such as paintings and sculptures, to human remains, books, manuscripts, and religious artefacts. An essential part of the process of restitution is the seemingly unavoidable conflict around the transfer of the objects in question from the current to the former owners. Ownership disputes of this nature raise legal, ethical, and diplomatic issues. The heightened tensions in the process arise because the looting of cultural objects challenges, if not breaks down, relationships between peoples, territories, cultures, and heritages.

The history of plundering and art imperialism may be traced back to ancient times. Looting has been documented in many instances from the sack by the Romans of the Etruscan city of Veii in ...

Article

Lee Sorensen

(b Versailles, Jan 4, 1910; d Paris, Mar 6, 2003).

French auctioneer, art collector, and writer. The son of a high-ranking officer in the French army, Rheims earned degrees in art history from the Ecole du Louvre and the Sorbonne. He got his first positions in appraising and later in auctioneering at several smaller auction houses. His talent for the performative aspects of auction sales, together with an excellent eye, attracted the Hôtel Drouot to seek an association with him in 1932. Rheims remained active at the Hôtel Drouot for the rest of his career. While at Drouot he met the collector Nubar Gulbenkian (1896–1972), who introduced Rheims to the highest level of art collectors. During the German occupation of France, Rheims, a Jew, was prevented from exercising his profession. He joined the Resistance, narrowly escaping death several times at the hands of the Nazis. After the war he returned to the Hôtel Drouot where one of his first assignments was to dispose of artworks seized by Reich officials that could not be returned to their owners. Rheims helped transform the postwar Hôtel Drouot into one of the leading salerooms of Europe. As an agent for Drouot, he presided, for instance, over the late Pierre Bonnard’s estate sale in ...

Article

Bet McLeod

[de Rothschild]

European family of collectors and patrons. It can be said that the fortune of the Rothschild family, acquired over six generations, began with Mayer Amschel Rothschild (1743–1812) of Frankfurt am Main, who, from the 1760s, supplied William of Hesse-Kassel (later William IX, Landgrave of Hesse-Kassel) with rare coins. Mayer Amschel was appointed financial adviser to William in 1801, and his family emerged from the Napoleonic Wars with immense personal fortunes, based on finance, that were to increase considerably throughout the 19th century. Mayer Amschel had five sons: the four sons living on the Continent were raised to the rank of Baron of the Austrian Empire in 1822; the English branch of the family was raised to the baronetcy in 1847 and one section to the peerage in 1885. Unless otherwise stated, all the works mentioned are in Rothschild family private collections.

Baron James Mayer de Rothschild (1792–1868...

Article

John A. Walker

(b June 9, 1943).

British collector and patron. With his brother Maurice (b 1946), he was one of the major shareholders in one of the largest international advertising agencies. Using wealth generated from the company Saatchi & Saatchi, he and his wife Doris (divorced) acquired in the space of a few years a substantial collection of contemporary fine art. The artists whose work was represented within the Saatchi collection include Julian Schnabel, Andy Warhol, Sol LeWitt, Robert Ryman, Robert Longo, David Salle, Georg Baselitz, Anselm Kiefer and Leon Kossoff. Saatchi was willing to purchase very large-scale pieces, often acquiring several works at a time by one artist, so contributing to a deeper understanding of the artist’s work. The stylistic range of the works in the collection makes it difficult to discern a specific taste. In order to display the collection to the public Saatchi employed the architect Max Gordon (b 1931...

Article

Harley Preston and Lin Barton

In