Magnus Renfrew has twenty years’ experience in the international art world, the last decade of which have been spent in Asia

Magnus Renfrew knows about art fairs in Asia. He co-founded Art Hong Kong (now Art Basel Hong Kong) and has launched numerous other fairs in the region. He speaks with LUX about Art SG, the fair he and his partners launched in Singapore as a hub for Southeast Asia, the Asian art market, and the future of art fairs

LUX: Do you think Singapore will become an art and/or cultural hub for Southeast Asia? Why did you choose Singapore rather than (for example) Bangkok, Jakarta, or KL?

Magnus Renfrew: Each city is unique with individual strengths and spheres of influence. Singapore is the gateway to Southeast Asia and as the de facto hub for the region, which has a population of 650 million people nearing the size of Europe, so logic dictates that it too should host an international art fair to serve a region that has some of the fastest growing economies in the world. What’s more, Southeast Asia has a diverse and exciting range of cultural ecosystems, and we want to bring together these communities alongside the international art world. Singapore has exceptional infrastructure and transport links, great hotels and restaurants, English is commonly spoken, Mandarin is commonly spoken. All these factors make it an exceptional place to host a major international art fair.

Furthermore, Singapore has a strong local art scene, with local galleries and considerable government investment in art and culture, which sees an active interest in growing the ecosystem in the city. The city’s cultural landscape is developing rapidly with world class museums such as the National Gallery of Singapore, Singapore Art Museum, alongside a growing cluster of commercial galleries, and an increasingly engaged community of collectors. We saw the successful launch of our inaugural edition last year, and I am excited to see the fair continue to develop against this exciting backdrop.

The case for Singapore is continuing to build as it gains greater importance geo-economically, geo-politically and as the Asia centre of wealth management. Singapore is in the ascent in every aspect and culture will inevitably be a part of that story.

LUX: You have significant fairs in Japan and Taiwan. What is the secret of a successful art fair in East Asia?

MR: It is important to have a solid premise for the fair, to identify the natural catchment area, to focus on who the fair serves, and to build domestic and regional support from all stakeholders – the government, galleries, collectors, and institutions. There are no shortcuts and it takes time to build.

What are the differences between Art SG and Art HK at a similar stage?

MR: The overall context of the art market in Asia is of course very different and the collector base across Asia has developed out of all recognition. In a very short space of time ART SG has successfully been able to attract a geographically diverse audience from across Southeast Asia and beyond. The context for ART SG is very different. When we started ART HK there were few institutions and an art scene heavily focused on auctions – it is arguable that ART HK played a significant role in building the case for Hong Kong as a cultural hub and in encouraging collectors to understand the importance of the gallery system. Singapore’s art scene is much more established than Hong Kong was when we launched, with a vibrant gallery scene and exceptional institutions, as well as a pro-active private collectors and foundations. This was reflected in the extraordinary diversity and quality of offerings during Singapore Art Week.

ART SG has its own distinctive identity as an important meeting point for collectors and art lovers from Southeast Asia and around the world by bringing together the best of regional and international galleries and artists, alongside dynamic programming to deepen understanding of its cultural context.

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LUX: Second year of Art SG saw some galleries (Perrotin, Zwirner, Esther Schipper) not return – why? Will they be back?

MR: Galleries have a host of different reasons that play into their decision making including their own programming. Pace is going to be opening their space in Tokyo this year, so they will be participating in Tokyo Gendai for the first time. Perrotin has chosen to do Taipei Dangdai and Tokyo Gendai this year. A number of galleries who chose to sit out ART SG this year visited the Fair and expressed how impressed they were with the quality of attendance, the buzz and the energy. I would anticipate that we will be working again with those galleries in Singapore and elsewhere in the future.

Southeast Asia’s leading international art fair (ART SG), attracted 43’000 visitors in 2023.

LUX: How did this year’s edition do, commercially?

MR: We are delighted by the response to the second edition of ART SG. Throughout the fair’s four days, galleries reported speedy and sustained sales, with works placed in major private and institutional collections. Galleries highlighted an enthusiastic response from both established and emerging collectors from all corners of the world, with many noting that ART SG had provided a great platform for meeting new collectors.

A snapshot of reported sales include: Thaddeaus Ropac sold a work by Anselm Kiefer for EUR 1.1 million, alongside works by Lee Bul, Miquel Barceló, Jules de Balincourt, Alex Katz, Oliver Beer, Mandy El-Sayegh, and James Rosenquist; Sundaram Tagore sold a range of works by Hiroshi Senju, Jane Lee, Miya Ando, and Zheng Lu for a combined total of over USD 1 million; White Cube sold works by Tracey Emin, Jessica Rankin, and Darren Almond, among others for a combined total of GBP 1.5 million; Waddington Custot sold two sculptures by Barry Flanagan, including a work sold for USD 680,000 to a Chinese resident of Singapore, an installation featured as part of PLATFORM by Ian Davenport sold for USD 360,000 and two sculptures by Yves Dana, including a work for sold for USD 92,000 to a collector based in Singapore; Lehmann Maupin sold a number of works, including a painting by David Salle sold for USD 250,000 to a prominent family collection in Singapore, alongside multiple works by Lee Bul and Kim Yun Shin for prices within the range of USD 200,000 – 300,000 and USD 60,000 – 90,000 respectively; Johyun Gallery sold a number of works, including a painting by Park Seo-Bo for USD 250,000 and multiple works by Lee Bae for prices in the range of USD 50,000 – 180,000 each; The Back Room placed an installation by Marcos Kueh featured as part of PLATFORM to an institution in Singapore with a price range between SGD 50,000 – 100,000; First-time participant Sabrina Amrani sold three works by Carlos Aires within a price range of USD 27,000 – 60,000 to private collectors in Singapore; Asia Art Center sold a number of key works by Li Chen and three works from Ju Ming’s Tai Chi Series, all of which have been acquired by private collectors, with a total value of around USD 600,000; Waterhouse & Dodd sold four works by Duncan McCormick to private collectors in the UK, South Korea, Italy and Hong Kong for a combined total of USD 150,000; albertz benda reported a sold-out presentation of three new paintings and four mixed-media watercolours by Australian painter Del Kathryn Barton to a Chinese collector on the opening day; Carl Kostyál reported a sold-out booth of Indonesian artist Atreyu Moniaga, with works priced at USD 18,000 each; Harper’s sold a painting by Eliot Greenwald for USD 40,000 and a painting by Marcus Brutus for USD 32,000; and MAKASIINI CONTEMPORARY sold works by Nir Hod and Jacob Hashimoto for USD 68,000 and USD 40,000 to private collectors in Singapore and Belgium respectively.

Read more: Shangri-La, Singapore, Review

LUX: Some collectors said to us that official programming for significant collectors was limited compared with early years of Art HK. How would you respond to this?

MR: Within ART SG’s bespoke VIP program, collectors were able to tap into a vibrant and dynamic line up of art events, openings, and after-parties to enrich their experience of the overall fair and art week, including private collection visits in collectors’ residences, artist studio visits, gallery openings, and more. Collectors were able to RSVP to openings and curator-led tours of private collection and foundation exhibitions such as Translations: Afro-Asian Poetics by non-profit collector-led foundation The Institutum, curated by Dr Zoe Whitley, director of Chisenhale Gallery, London, Rough, presented by The Pierre Lorinet Collection, and Chronic Compulsions presented by The Private Museum, as well as tours of major museum exhibitions at the National Gallery of Singapore and Singapore Art Museum. There were after-hours events including specially curated art parties at the National Gallery Singapore, ArtScience Museum, and Soho Residency, and a young collectors’ party at a spectacular new venue with views over the Singapore skyline. Our collector programming also offered immersive art and food dining experiences created especially for ART SG, such as Indochina by Senang Supper Club which featured two Cambodian artists discussing their art and non-profit initiative in Siem Reap over a curated menu from the Indochina region; a walking tour of cultural precinct Kampong Glam led by award winning cookbook author Khir Johari and Michelin-starred chef Ivan Brehm; and a four-hands Afro-Asian dinner which reflected the narrative and curation of the Translations exhibition. In addition to the official programming by the fair, there were also a number of gallery dinners, collector-hosted evenings, and karaoke nights and many other parties to round off the week.

LUX: What will you change about the fair for 2025?

MR: We will be doubling down on VIP outreach across our core constituency of Southeast Asia, Indonesia, Philippines, Thailand and also Vietnam, as well as markets with a resonance with Singapore, such as Australia, New Zealand, Chia and South Asia, and expanding the programming of the fair both within on-site and for collectors throughout the city. We will be working on more collaborations with privately owned museums and foundations, as alignment with collector-led initiatives that seek to make a difference is key to ART SG’s ambition to grow the regional ecosystem.

The Art SG 2023 showcased an assembly of leading galleries from the region and around the world

LUX: What is the main collector base for Art SG?

MR: There is an established base of sophisticated collectors in Southeast Asia and a younger generation of new buyers who are hungry to engage with contemporary art.

Singapore is also increasingly home to the region’s wealth base as demonstrated by the growing number of family offices opening here, as well as its emerging position as Asia’s tech capital. This together with established international businesses and entrepreneurs recognising the benefits of Singapore as the base for their pan-Asian operations, provides the context for a rapidly developing, forward thinking and affluent collector base, who are increasingly engaging with Singapore’s rich cultural landscape.

Thousands of VIPs attended the preview day of ART SG’s highly anticipated second edition. Strong attendance from both local and international collectors and leading figures from institutions, museums, and foundations, hailing from Indonesia, Thailand, Philippines, Malaysia, Vietnam, Australia, Japan, Korea, Mainland China, Hong Kong, Taiwan as well as Europe and the US. Notable visitors include:

Collectors

• Alan Lau, Hong Kong
• Albert Lim & Linda Neo, Singapore
• Alexander Tedja, Indonesia
• Alina Xie, China
• Andrew Xue, Founder of Pond Society, China & Singapore
• Belinda Tanoto, Founder of Tanoto Art Foundation, Indonesia
• Dato Noor Azman Mohd Nurdin, Malaysia
• Disaphol Chansiri, Thailand
• Ellie Lai, Taiwan
• Eric Booth & Jean-Michel Beurdeley, MAIIAM, Thailand
• Evan Chow, Hong Kong
• Han Nefkens, Han Nefkens Foundation, Spain
• Harayanto Adikoesoemo, Founder of Museum MACAN, Indonesia Iwan Kurniawan Lukminto, Founder of Tumurun Museum, Indonesia Jack Feng, China/Singapore
• Ji Dahai, Founder of Yalv River Art Museum, China
• Jim Amberson, Singapore
• Justine Tek, Director and CEO, Yuz Museum, China
• Kim & Lito Camacho, Singapore
• Kit Bencharongkul, MOCA Bangkok, Thailand
• Kulapat Yantrasast, USA
• Leo Shih, Taiwan
• Li Fan, Founder of Whale Art Museum, China & Singapore
• Mike & Lou Samson, Philippines/Singapore
• Nathan Gunawan, Indonesia/Singapore
• Nishita Shah, Thailand
• Patrick Sun, Founder of Sunpride Foundation, Hong Kong
• Pierre Lorinet, Singapore
• Pontiac Land Group, Singapore
• Rath Osathanugroh, Thailand
• Rudy Tseng, Taiwan
• Rvisra Chirathivat, Thailand
• Simon Cheong, Singapore
• Shunji Oketa, Founder of Oketa Collection, Japan
• Thomas Shao, Founder of the MetaMedia Group and the Shao Foundation, China TY Jiang, Les Yeux Art Foundation, USA
• Wu Meng, M Art Foundation, China
• Xiaoyang Peng, Founder of DRC No.12 space & The Bunker, China
• Yang Bin, China

Institutions

• Aaron Cezar, Founding Director, Delfina Foundation, UK
• Aaron Seeto, Director, Museum MACAN, Indonesia
• Derek Sulger, Co-Chairperson, UCCA, China
• Eugene Tan, Director of National Gallery Singapore and Director of Singapore Art Museum, Singapore
• Jessica S Hong, Senior Curator, Modern and Contemporary Art, Toledo Museum, USA Judith Greer, Director of International Programmes for Sharjah Art Foundation, UAE
• Lee Dong Kook, Director, GyeonGi Cultural Foundation and Gyeonggi Province Museum, Korea
• Mami Kataoka, Director, Mori Art Museum, Japan
• Pi Li, Head of Tai Kwun Contemporary, Hong Kong
• Sook-Kyung Lee, Director, The Whitworth, Manchester & 14th Gwangju Biennale Stefano Rabolli Pansera, Director, Bangkok Kunsthalle, Thailand
• Virginia Moon, Associate Curator, Korean Art, LACMA, USA
• Xie Siwei, Museum Director, Yuz Museum, China
• Xue Tan, Senior Curator, Tai Kwun Contemporary, Hong Kong
• Zoe Whitley, Director, Chisenhale London, UK

LUX: Will art fairs remain strong commercially in the coming decades?

MR: Art fairs always have and will continue to play a crucial role in the art market.

The recent edition of ART SG saw 45,303 visitors across four show days, hailing from Indonesia, Thailand, Philippines, Malaysia, Vietnam, Australia, Japan, Korea, Mainland China, Hong Kong, Taiwan as well as Europe and the US – in increase from the 43,000 visitors who attended the inaugural edition. The strong international attendance from leading private collectors, as well as directors, curators, and patrons from international museums and institutions at ART SG is a testament to the importance and appeal of the fair as the region’s leading fair.

Meaningful dialogues and insightful conversations were held alongside the Fair at ART SG 2023

LUX: Will Art SG help awareness of SE Asian Art grow on the global scene, or is that not the point?

MR: Definitely. As Southeast Asia’s leading art fair, ART SG invites the world’s leading collectors and art leaders to experience Singapore and all that the region has to offer, but also encourage a new generation of emerging collectors to be inspired by the rich diversity of art the region.

ART SG 2024 saw a strong line-up of Southeast Asian galleries making a dynamic debut at the fair, as well as some of the most significant galleries from across the region, featuring both established and emerging Southeast Asian artists. Some of the highlights include FOST Gallery (Singapore) which presented a a significant showcase reflecting recent contemporary art practice in Singapore and Southeast Asia, including Donna Ong, Eng Tow, Ian Woo, Wyn- Lyn Tan, as well as Elaine Roberto-Navas and Luis Antonio Santos; Gajah Gallery (Singapore, Jakarta, Yogyakarta) which showed renowned artists from the region including Suzann Victor, Yunizar and Uji “Hahan” Handoko Eko Saputro; and BANGKOK CITYCITY (Bangkok), whose first-time participation featured a new installation by Tanatchai Bandasak, large-scale paintings by street artist Alex Face inspired by significant political movements in Thailand, and works by renowned Thai artist Korakrit Arunanondchai featuring his classic motifs of denim, fire and mythical imagery, among others.

artsg.com

Sophie Neuendorf, Vice President of Artnet and Senior Contributing Editor at LUX

Sophie Neuendorf, Vice President of Artnet and LUX Senior Contributing Editor, turns her insider’s eye to emerging trends to bring us her art-world predictions for 2024

1. Online fine art sales will take up more market share
According to financial services company UBS, online fine-art sales made up 16 per cent of the $68 billion global fine-art market in 2022, up from six per cent in 2019. With the rise of a new tech-savvy generation and the desire for digital solutions and experiences, I predict online sales will continue to rise.

2. All eyes will be on Christie’s and Sotheby’s
It’s no secret that the art market has been volatile recently. Sotheby’s failed to consign several hot single-owner sales and Christie’s had the Fineberg sale disaster. But with a summer Sotheby’s sale that included a rare Klimt portrait with an estimate
of $80 million and Christie’s total sales outperforming Sotheby’s for the first half of 2023, the fightback is on. Will Christie’s finally emerge as the art-world auction powerhouse? The stage is set for 2024.

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3. There will be a consolidation of the market
A plethora of art-related companies have surfaced over the past few years. The question is, with online experiences and transactions increasing, which companies will take the lead in this hot segment? I predict that only a few companies will survive and take the lead in the market, especially because of socioeconomic pressures, and this will become apparent during 2024.

4. Art and fashion collaborations will expand
I recently spoke to a friend who works in one of the major haute fashion houses about the rapidly increasing collaborations in art and fashion. These are fruitful creative marriages with benefits on both sides. While the fashion industry gains depth and seriousness, fine art can gain new potential collectors. There have been controversies, such as the concerns over Louis Vuitton’s 2023 collaboration with Yayoi Kusama. At Saint Laurent, however, Creative Director Anthony Vaccarello is doing a remarkable job in supporting established and emerging artists, just like Yves Saint Laurent himself. There’s an exhibition space at the Rive Droite site and global pop-up shows including Sho Shibuya at Art Basel Miami Beach.

Christmas in California, 2022, by Guimi You. The Korean artist is a LUX favourite. Image chosen by our editorial team, not an endorsement by the writer

5. Museums will deaccession more works
The Whitney Museum of American Art recently deaccessioned seven works, including four by Edward Hopper, with proceeds from the sales said to be going to support new acquisitions. Hopper is indisputably one of America’s greatest artists and it strikes me that the action caused panic in the market – works by Hopper were predicted to take a tumble in value. This is the unfortunate side-effect of deaccessioning artworks. However, I personally feel that an artwork is far better served on an art lover’s wall than in a museum vault.

6. ESG will have a greater foothold in the market
Environmental, Social and Governance (ESG) is a framework that is rapidly gaining in importance. It is not only an indicator of the sustainable health of an economy or company, it is also driving decision-making among the new generation of collectors. Where the baby-boomer generation was interested in how an artist draws from art history, the new generation of collectors is more concerned with asking about what drives the artist. What are they trying to communicate with their work? Does it represent the zeitgeist and discuss contemporary themes, such as #MeToo, Black Lives Matter or the war in Ukraine? In trying to captivate the new generation, galleries will have to engage with ESG reporting and initiatives.

Read more: Artist Ricky Burrows: From the streets to the studio

7. Expenditure in fine art as an asset will increase
I always advise to buy for passion, but with an investment view. According to cultural economist Claire McAndrew, investments in fine art are especially lucrative during inflationary and recessionary periods. I have noticed significantly increased movement over the past few months, especially on the private sales side of the market. From an eye-opening Lichtenstein to a rare Caravaggio, never have I been offered so many works for private sale and acquisition. With the impending transfer of wealth from the baby boomer to the millennial generation, I predict there will be many a marvellous work to hit the auction block in 2024 and, indeed, over the next few years.

Find out more: artnet.com

This article first appeared in the Autumn/Winter 2023/24 issue of LUX

A record-breaking sale at a German auction house is reverberating around the European art market, says Sophie Neuendorf

Sophie Neuendorf

The 1943 striking self-portrait was hammered down for €20 million ($22 million) or €23.2 million ($24.4 million) with fees —the highest amount ever paid for a work of art at auction in Germany. Including fees, the masterpiece surpassed the previous record for a Beckmann self-portrait, which was set with the sale of Selbstbildnis mit Horn, (1938), sold for $22.5 million with fees at Sotheby’s New York in 2001 (Source: Artnet Price Database). Additionally, the Grisebach sale marks the second highest price achieved for a Beckmann painting: Bird’s Hell (1937–38) sold for £36 million ($44 million), including fees, at Christie’s London in 2017.

According to several witnesses, a Swiss collector, who had bid over the phone via one of Grisebach’s partners, was the lucky buyer of the masterpiece. Self-portraits are the most famous of Beckmann’s oeuvre, and this particular work, a striking painting depicting the artist in a fur-lined robe, was painted while the German artist was living in exile in Amsterdam during World War II. Several collectors in the room bid on an array of blue chip works during what can be described as an electrifying evening. Many collectors had also come to see the evening’s star lot and to hopefully witness a record as the Beckmann piece was offered with no guarantee. Self-portrait Yellow-Pink had been on view in New York in November before arriving back at Grisebach’s historic Berlin villa for the December sale. Most likely, it had caught the eye of several American collectors as auction house specialists notably switched over to English during the sale of this particular lot. According to Grisebach’s Diandra Donnecker, the uniqueness of the work stems from the fact that it is one of five self-portraits to remain in private hands; they rarely come up for sale, and works he painted in exile are even rarer.

Traum von Monte Carlo (1939 – 1943) Max Beckmann

The Grisebach sale marks a pivotal moment for the German art market, which has steadily gained momentum over the past few years. Sotheby’s returned to the country in 2021 after a hiatus and sales in recent years have been more robust than usual, with more works going for over €1 million. Given the ramifications of Brexit, which is making import and export transactions much more cumbersome, Sotheby’s decision is hardly a surprise. Christie’s has been steadily strengthening its presence in Paris over the last few years and Amsterdam is much smaller in terms of buyer opportunities; so the EU’s largest country in terms of size and economic strength seems the logical choice for Sotheby’s – and consequently, international collectors.

The Grisebach sale on December 1 is more than double the last record achieved in Germany, which was previously held by the auction house Nagel in Stuttgart. Nagel had sold a Chinese bronze sculpture, dating to 1473, for €9.5 million. The record for a painting sold in Germany is held by Grisebach for its sale of another Beckmann work, The Egyptian (1942), for €5.5 million in 2018.

Selbstbildnis gelb-rosa (1943) Max Beckmann

For context, let’s take a look at the market. The top 5 German auction houses, in terms of value sold, are Ketterer, Grisebach, Hampel Fine Art Auctions, Lempertz, and Van Ham (in that order). Ketterer’s total sales value in 2022 thus far is over €100 million. After their December 1 sale, Grisebach’s total sales value for 2022 is also close to 40 million USD. But how does the German market compare to its European counterparts in 2022 thus far? Total sales value this year in Germany was $193 Million. The Austrian market recorded total sales of $94 Million, the Swiss market hammered down $182 Million, and the French market recorded $967 Million in sales value.

One of the strongest European markets, Germany will likely need to record a few more years of growth until it can compete with France and the UK (which hammered down over $1 Billion in total sales thus far). (Source: Artnet Price Database).

Interestingly, German artists have proven robust through global economic downturns and often surpass their US or UK counterparts in terms of value sold. The top 5 most sought after artists, in terms of value sold, are Gerhard Richter, Georg Baselitz, Sigmar Polke, Franz Marc, and Max Ernst. For context, the total value of Richter works auctioned in 2022 is $223 Million in 2022 thus far – which is greater than total auction sales in Germany this year.

The Night (1918-1919) Max Beckmann

With a historically strong culture of collecting and a deeply ingrained love and value for the arts, it won’t take long for the German market to become a hub for international collectors. An abundance of private collections in Germany will surely provide ample opportunities for acquiring unique and unseen masterpieces. Many of the most important art collections worldwide are located in the country, and quite a few of these marvelous collections will be transferred to the next generation before too long.

According to Artnet data, German collectors have historically favored Impressionist and Modern art, closely followed by Post War and Old Masters paintings. Now, these same categories are tied to tedious export rules and regulations, introduced by Germany’s culture minister a few years ago (ostensibly to protect Germany’s cultural heritage). The fourth most popular collecting category is Contemporary Art, which is much easier to buy and sell internationally. With the rise of the new millennial generation of collectors, perhaps the German market is primed for a shift in wealth and collecting habits? According to Artnet data and recent sales, the country’s market is drawing an international audience and is on track to compete with France and the UK. Some notable collections to keep an eye on are those of Ingvild Goetz, Karen Boros, Ariane Piech, Nicolas Berggruen, and Desire Feuerle, to name just a few.

Sophie Neuendorf is Vice-President at Artnet.

Find out more: artnet.com

Alan Lo

The restaurateur, collector and leading figure in the Hong Kong art scene on who’s hot, what’s not, and why Singapore may soon be the next Asian art hotspot

LUX: You have been involved in the art world in Hong Kong for around 15 years. How has the scene changed there during this period?
Alan Lo: Hong Kong has become one of the most important art hubs in the world, on a par with London and New York. With Art Basel and M+, as well as local non-profits such as Asia Art Archive, Para Site and Design Trust, it is truly one of the best places to see art and buy art.

LUX: Are Hong Kong and China producing as many interesting new artists as 10 years ago?
AL: Things are a little complicated lately with social unrest followed by Covid, but I still see amazing new talent emerging. Hong Kong artist Ng Wing Lam is one of my latest acquisitions.

Untitled, 2020, by Arjan Martins, from the collection of Yenn and Alan Lo

LUX: Is there a move away from the “Western eye” in recognising artists from the region, or to be successful does an artist still need to be rated by collectors in the US and Europe?
AL: Contemporary art should be borderless. Think of artists Chris Huen Sin-kan and Wu Tsang, who show and are collected globally. As much as China and Asian collectors are on the rise, in the near term the US and Europe are still very influential, so it is important for artists to participate in projects with Western institutions.

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LUX: Which living artists internationally will be as remembered and sought after in 50 years time as the early 21st-century greats?
AL: Danh Vo, Mickalene Thomas, Shinro Ohtake, Rirkrit Tiravanija.

LUX: Hong Kong is highly digitised. How is digital art interacting with conventional art?
AL: Digital art is very now and Hong Kong is very much at the forefront. From digital art fairs to the level of interest in NFT art among collectors, new and established, these are signs of the significance of this new medium.

Singapore’s bay area by night

LUX: The art-market peak has been called many times over the past 10 years. Will it peak?
AL: Who knows!

LUX: Is there a new generation of collectors making the art market and new artists in their own way, and is that interesting for you?
AL: For sure. Especially in China, we see the emergence of the very young who are buying very well and very quickly. It is definitely a new phenomenon that is here to stay, I think.

LUX: Is the influence of Singapore in the art world likely to increase? Why has it not done so today?
AL: The collector base is quite small today, but with the influx of capital and talent into Singapore, the city state is already seeing change in the scene, and Art SG debuting in January 2023 will be a catalyst.

Bakk, 2022, by Cheikh Ndiaye, from the collection of Yenn and Alan Lo

LUX: Will what you do help stimulate a ground-up art movement in Singapore?
AL: I’m just an insignificant collector, but I do hope to see more artist- and curator-led spaces to make scene more interesting.

Read more: Adrian Cheng On Brands To Watch In 2023

LUX: In 10 years time, will collectors and enthusiasts visit Singapore for its art scene?
AL: There is the potential. Its ecosystem already has Singapore Art Museum (SAM), Singapore Tyler Print Institute (STPI) and National Gallery Singapore. I’d like to see more collector-driven and foundation spaces, as well as non-profits.

LUX: Name your five most interesting artists in the world right now.
AL: Oh de Laval, Wahab Saheed, Soimadou Ibrahim, Wu Tsang, Sarah Cunningham.

Find out more: @alanyeungkit

Although Jeff Koons has had a profound impact on contemporary art and remains one of the world’s most influential artists, recent data supports a strong decline in his market, reflecting the tastes of a new generation of art collections and wider cultural shifts. Sophie Neuendorf reports

“I love the gallery, the arena of representation. It’s a commercial world, and morality is based generally around economics, and that’s taking place in the art gallery,” Jeff Koons

The above quote perfectly sums up the ethos and reputation of Jeff Koons. Love him or hate him, Koons has shaped contemporary art in profound ways over the course of the past few decades. One of the reasons for this is that his work is globally recognisable and relatable – you don’t need to have studied art history to understand where he’s coming from although if you have there are deeper layers to be found. In a sense, he bridges the gap between high and low culture.

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Koons rose to fame in the 1980s, developing iconic works such as Michael Jackson and Bubbles (1988), the Made in Heaven (1990–1991) series, and Puppy (1992), which has been installed in Sydney Harbour, Bilbao, the Palace of Versailles, and Paris. While he’s most closely associated with his brightly coloured, shiny, oversized sculptures of kitschy souvenirs, toys, and ornaments (see his Celebration (1994–2011) series), Koons continues to seek new and surprising outlets for his creativity. In 2017, he teamed up with the luxury brand Louis Vuitton to produce an edition of bags printed with iconic European paintings, and more recently, he teamed up with high-street brand UNIQLO to create a line T-shirts and hoodies printed with some of most famous sculptures.

Courtesy of artnet

In 2019, his fame seemed to reach an all time high: Rabbit sold for a record-breaking $91.1 million at Christie’s auction house, making him the most expensive living artist. However, according to the artnet Price database, that single work accounted for the lion’s share of the artist’s $100 million (approx.) auction total that year. In fact, since peaking at more than $150 million in 2014, the artist’s  overall auction volume has been slowly trending downward. In 2020, it was down to less than $3 million. While the pandemic undoubtedly played a role in the decrease of sales and things have picked up slightly since (to about $36 million to date) it’s still a far reach from earlier years. More worryingly, 48 (20%) of the 239 Koons lots offered this year at auction have failed to sell entirely.

Read our interview with Jeff Koons from the Autumn/Winter issue

Over the past few years, major cultural shifts in the art world and beyond have contributed to the rather rapid depreciation of the Koons market. First and foremost, there has been a generational shift, with a new group of young collectors becoming the driving force behind the rise of Ultra Contemporary artists and a wider change in tastes. Peers of the BLM, MeToo, and climate change era, these young collectors are looking for more depth and meaning than Koons’ shiny kitsch seems able to offer. Quite possibly, the extravagant prices and controversial subject-matter (namely Koons’ Made in Heaven series which featured explicit images of his former wife, porn star Ilona Staller) have, ultimately, overshadowed his career, but this change can also be seen as a natural evolution. In fact, the only category in art that is more or less immune to changes in taste are the ultimate “trophies” that are so exceptional and rare in quality that anyone able or prepared to spend more than $100 million on a single artwork cannot afford not to go after them, if and when such works become available. Nearly everything else is and always will be affected by the evolution of culture.

Courtesy of artnet

Additionally, and importantly, the health crisis of the past two years has had a profound impact on not only the art market, but also on the popularity of the hyped pre-pandemic artists. Internationally recognisable artists such as Richard Prince and Takashi Murakami have also seen a depreciation in their average prices at auction, indicating a decline in their popularity. Perhaps, this is because these figures are seen to be representative of a pre-pandemic era, an era which was more superficial and frothy than today’s.

Read more: The Best Art Exhibitions to See in January

Koons currently ranks as number 57 in artnet’s list of the top 300 most popular artists, but if the market is anything to go by, he’s in danger of slipping off it altogether. “For me, at a certain point it became so much about the money that I couldn’t look at a shiny outdoor [Koons] sculpture without thinking about dollar signs,” commented American art advisor and specialist in modern and contemporary art Lisa Schiff. “When it becomes too much about the money, it’s just not interesting. I feel like where he started is somewhere very different from where he went.”

Now, Koons’ new dealers at Pace Gallery (the gallery announced exclusive representation of the artist in April after he left Gagosian and David Zwirner) are faced with the daunting task of rekindling his market. His latest works –  stainless steel replicas of porcelain figurines – are set to appear in a solo show at Pace New York in late 2023 but only time will tell if the market can be swayed once more in his favour.

Sophie Neuendorf is Vice-President at artnet. Find out more: artnet.com

Exterior of Pace Gallery in Geneva Gallery. Photograph by Annik Wetter. Courtesy Pace Gallery.

Leading art gallery Pace has long pioneered digital innovations in the art world, and recently announced its first dedicated platform for selling artists’ NFTs. Ahead of the launch in September, LUX speaks to Valentina Volchkova, head of Pace Geneva, about art market trends, collecting habits and Jeff Koons

Valentina Volchkova

1. These days, art collectors can purchase art in various different formats, such as NFTs or tokens, and galleries such as Pace are accepting cryptocurrency as payment. What do you think has brought about these changes?

I look at it as a global subject: life evolves, culture evolves. I joined Pace 12 years ago and I have seen the constant evolution and innovation within the gallery. Marc Glimcher (the gallery’s CEO and president) is very innovative and is always looking for artists and places where people are not expecting to see us. We have, for example, opened a gallery in Palo Alto. In some ways, that decision wasn’t so surprising because there is a pool of collectors and artists who are interested in showing in this corner of the world, but at the same time, we are introducing audiences, from diverse backgrounds, to art that is different to what they’d see somewhere like the Met.

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The pandemic has also changed a lot of the ways in which people consume, interact and get curious about art. It opened up, for us at least, a whole new world and access to artists, to collectors and to press. Before I joined Pace, I opened my own gallery. I was 21 and the gallery was in Paris, in a very conservative place, in Saint Germain, and you would see that people didn’t actually feel comfortable entering the space. Perhaps, it’s because people feel excluded from that environment or think that they have to buy something if they go in. The pandemic, and the forced closure of galleries and different spaces, led to an increased digitalisation not only in terms of art and culture, but also consumerism more generally. Digital platforms provided access to new artists, to new ways of creating art, and to new audiences as well.

We didn’t stop our gallery programme in Geneva because the artists we were showing had other projects planned in another museum or gallery, which meant we had to stick to our schedule. For artists generally, nothing really changed. The majority of them – the painters, the sculptors – were isolated in their studios, and they liked it. They need this kind of isolation, but of course, the frustrating part, for them and us, was not being able to show their work, not being able to install an exhibition and see it live. What happens with the digitalisation of the art is that you don’t have this frustration anymore, it’s accessible to the world. Many artists who had never digitalised their art were suddenly willing to experiment, and for artists who had never shown their work in a gallery, it was an opportunity for them to showcase what they were doing. In that sense, the pandemic opened up a number of opportunities.

Jean-Paul Riopelle, Nouvelles impressions n°15, 1978. © SOCAN, Montreal and DACS, London 2021

2. Do you think these new formats will be maintained in the future?

People are looking for new experiences. They are looking for physical experiences. They have access to so much information and to so many images. Everything is now online: you can go to an exhibition viewing, you can attend a conference all from your computer. I think the digitalisation of our industry was already happening, but the pandemic accelerated it. That doesn’t mean artists will now stop what they had previously been creating, but it means they will also take part in this new, innovative way of creating an artwork. Pace has been involved in these evolutions for a long time with its art and technology programme, with showing digital and immersive art, and I think some artists feel comfortable doing projects with the gallery for that reason.

Lee Ufan, Relatum – expansion place, 2008. © ADAGP, Paris and DACS, London 2021 Photo: G.R. Christmas, courtesy Pace Gallery

3. What do you make of Jeff Koons’ recent decision to move to the gallery?

I was actually with Jeff for his show at the Mucem a few weeks ago. He is such a smart and humble person. He knows exactly where he wants to go. There are some artists who have revolutionised the art world and he is part of that group: Cézanne, Duchamp, Rothko, Koons, Picasso. For me, I see it as a very obvious collaboration right now. I think it’s good timing, and this representation comes at a point where the artists are looking for support for their innovative and crazy ideas. Pace is really supportive in that sense.

Read more: A Beginner’s Guide to Collecting Art by Sophie Neuendorf

4. Going back to buying trends, is there a particular artwork or type of art that people are gravitating towards at the moment?

I have made my own observations – in terms of the collectors I’m working with and the shows I put up –  that people are wanting to see and be around art that is reassuring, somehow. Art that deals with current issues, but is also about the environment and brings us closer to nature. Artists are also being rediscovered in those terms and are being shown more than ever. I’m thinking, for example of Kiki Smith, who has done over fourteen shows over the last two years. There is a hunger for art that is accessible and universal, but also established. During the pandemic, people were looking for Rothkos, for Modiglianis, Cy Twomblys and would spend monumental amounts of money for established artworks. The uncertainty of the pandemic meant that we were able to source many of these artworks that we would never manage to source before.

Marina Perez Simão, Untitled, 2021. © Marina Perez Simão. Courtesy Pace Gallery and Mendes Wood DM. Photo by Jonathan Nesteruk

5. Are there any developments, artists or trends that are personally exciting you at the moment?

I am very curious about where we are going right now with the opening of art fairs. I don’t know how they’ll happen, but we’ll see. The pandemic has led us to revisit some of the art movements. Personally, I’m looking to develop the Light and Space movement in a broader way in places where it hasn’t yet been shown. That whole movement is about experience, but is also very universal and accessible. People need that.

6. Now that international travel is opening up, are there any shows you’re looking forward to seeing in Geneva or elsewhere?

I’m excited to see the next step of the Jeff Koons show, which will happen in Florence this fall. The show is very intimate. You might have seen his works at the Centre Pompidou, at the Whitney Museum, at the Fondazione Prada, but the way this show is curated makes you feel very close to the artist and his work. It opens up your eyes to something very sensual, bodily, and attractive.

Pace Geneva’s upcoming exhibition “Silence” runs from 3 September to 30 October 2021. Find out more: pacegallery.com

Tunji Adeniyi Jones. Courtesy White Cube Gallery

From prints and paintings to photography and NFTs, the diversity and scale of art world can be daunting to first-time collectors, but it doesn’t have to be. Here, artnet’s Vice President Sophie Neuendorf shares her top tips for navigating the art world and building a collection

Sophie Neuendorf

With fine art developing into a beautiful alternative asset, the opportunity to purchase tokens and the growth of NFTs, now is a great time to invest, but it can be difficult to know where to begin. How do you choose the works and artists? Where is the best place to buy: galleries, brick-and-mortar auctions or online auctions? How do you know what’s a fair price?

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Entering the art world can sometimes feel like more trouble than it’s worth, but it collecting can bring a lot a pleasure, and it’s worth remembering that you probably already know more than you think.

How do I know what I like?

Whether consciously or not, the preferences one has in terms of art and culture begin developing in childhood. Can you remember the first time you experienced art? Was it in a museum, a church, gallery or in someone’s home? Those earlier encounters leave a lasting impression which will have an impact on the artists and artworks you gravitate towards, and generally speaking, it’s always advisable to follow your instincts.

From a young age, I’ve had the huge pleasure and privilege of enjoying my father’s collection at home and in terms of my own collecting habits today, I find myself wanting to support emerging artists, as my father has always done. When I like a work, I tend to discuss it with my brothers, whose opinions I trust, before purchasing.

Robert Indiana. Courtesy of artnet auctions

How important is research?

While you might be buying for passion, it’s important to also have an investment view. I would strongly advise anyone interested in a particular artwork or artist to spend some time researching their exhibition history, and similar artists before committing to a purchase.

Read more: Louise Cottar of Cottar’s Safaris on meaningful luxury experiences

Where do I go to buy?

Personally, I like to purchase artworks through galleries or in online auctions. I enjoy building a relationship not only with the artist I collect, but also with the galleries that represent them. Galleries are paramount to the art world ecosystem, and supporting them is very important. The app SeeSaw lists current and forthcoming exhibitions, where you can go to discover new and notable artists. For example, I’ve recently discovered the works of Tunji Adeniyi Jones, Eddie Martinez, and Donna Huanca.

Donna Huanca. Courtesy of Simon Lee Gallery

Online auctions offer a great alternative, especially at a time when we might not be able to travel so easily to galleries. You can browse and purchase artworks from the comfort of your own home and the seamless end-to-end transaction process takes away any potential stress. I’ve already preselected a few works that I’ll be bidding on at artnet auctions this Autumn, such as a marvellous piece by Robert Indiana as well as several contemporary artworks.

The most important piece of advice I’ve ever received is: “Buy it because you love it. It doesn’t matter what others think.” With any luck, the monetary value will appreciate as well as the emotional value.

Follow Sophie Neuendorf on Instagram: @sophieneuendorf

Pablo Picasso’s painting Fillette au béret (1964) is the first artwork to be tokenised. Image by Seraina Wirz / © Succession Picasso / 2021, ProLitteris, Zürich

Have you ever dreamt of owning an invaluable piece of art history? Now is your chance. Digital asset bank Sygnum and art investment pioneer Artemundi have partnered to launch the first ever tokenisation of a work of fine art, starting with a blue chip Picasso painting. Art Security Tokens (ASTs) can be purchased and traded like shares – they mark ownership of an artwork and broadcast it onto the blockchain. artnet’s Vice President and LUX columnist Sophie Neuendorf caught up with Bigna Pfenninger, a partner in the initiative, to find out more

Sophie Neuendorf

Sophie Neuendorf: You started your career in the publishing industry. What inspired you to enter the art world?
Bigna Pfenninger: I am not sure there was a distinct moment of attraction. The publishing industry is interesting where, business aside, one nurtures a culture of knowledge that simply needs financial and administrative support. Certain aspects of the art world, too, are more scintillating where such balance applies.

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Sophie Neuendorf: How do you see the industry developing post-pandemic?
Bigna Pfenninger: Perhaps the pandemic has accelerated a shift in distribution, boosted technological progress and made money change hands. At best, we will realise it has been a right of passage bringing forth a more mature, transparent and thus, growing art market.

Bigna Pfenninger

Sophie Neuendorf: Your partner bank Sygnum has been offering private and institutional clients the opportunity to invest in structured and alternative assets for several years now. How do you see art tokenisation in comparison to other investments?
Bigna Pfenninger: Tokenising a museum-grade Picasso is the start to a novel level of access to masterpieces formerly reserved to a small group of connoisseurs and collectors. With Art Security Tokens (ASTs), investors can now purchase and trade “shares” in the artwork 365 days a year, 24/7.  And yes, Sygnum was the first digital asset bank that was granted a full banking license in Switzerland in 2019. We chose Sygnum because they specialise in creating unique investment opportunities with a focus on high growth assets that are hard to access in a direct and fractional manner.

Sophie Neuendorf: Some would hazard that the public tokenisation of an artwork will depreciate the value. Is there any truth to these allegations?
Bigna Pfenninger: I don’t believe so. Especially given that the Picasso will be the first-ever tokenised artwork, I’m certain its value can only increase! Additionally, there’s governance, but of course, we will wait and observe the developments.

Sophie Neuendorf: How would you describe the main differences between Non Fungible Tokens (NFTs) and the tokenisation of an artwork?
Bigna Pfenninger: We created the Art Security Token (AST) as a fully fungible, safe and easy access to fine art ownership. Here, each token represents an equal, and interchangeable share in the asset with the same rights and obligations. With NFTs, each token is unique, and therefore not designed to be used in this way. ASTs are ledger-based securities issued in accordance with the Swiss Code of Obligations. They are issued through a fully regulated bank and are protected by DLT laws.

Read more: Spanish architect Santiago Calatrava on light and space

Sophie Neuendorf: You launched the first ever tokenisation of an artwork with Pablo Picasso’s Fillette au béret (1964). Valued at 3.7 Million Euros, those interested in investing in this work can buy a piece of it starting at just 4,600 Euros. It’s certainly a lucrative work to own a piece of! Are tokens still available?
Bigna Pfenninger: Yes. Subscription will open at the end of July, on a first come, first served basis. We’re very excited about the launch as it represents a large part of the future of the industry.

Sophie Neuendorf: Do you accept cryptocurrencies in terms of payment for the token?
Bigna Pfenninger: Yes, we do! We accept incoming and outgoing deliveries of cryptocurrencies to be held and used on the banking platform. Transactions for the Picasso token are settled using a digital CHF stablecoin (DCHF).

Sophie Neuendorf: Can you reveal which masterpiece you will tokenise next?
Bigna Pfenninger: We have called our first AST “PIC1”. We will reveal the next masterpiece in September, but I can assure you, it’s marvellous!

Find out more: insights.sygnum.com

Opera Gallery at Masterpiece London 2019. Photograph by Ben Fisher. Courtesy of Masterpiece London

In his second column for LUX, art collector, advisor and chairman of Masterpiece London Philip Hewat-Jaboor discusses how art institutions are engaging a new generation of collectors and dealers

Philip Hewat-Jaboor. Photograph by Danny Evans

I’m often asked why we’re seeing a new generation of collectors and dealers entering the art market, and I think the impact of the past year has both accelerated this growth and brought into perspective how important it is for the art world to engage, nurture and support the young.

This past year all involved in the art world – museums, galleries, dealers and auctioneers – have had to evolve and come up with increasingly sophisticated ways to draw in new audiences. The move to online platforms has drawn in younger buyers who are digitally native and the process of buying art has become almost instantaneous, without any of the perceived barriers of a gallery or auction house. According to this year’s Art Basel and UBS Global Art Market Report, high-net-worth millennials are now the fastest-growing group of collectors.

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In my opinion, one of the greatest changes we’ve seen over the past 20 years (and certainly since I first started working in the art world), is how knowledge and experience is communicated and shared. There has been a shift towards collaboration and discussion in art world, especially, over the past year. Knowledge, history, opinions and even prices are much more readily available whether that’s via a gallery’s website, through social media, an online article or panel discussion. This access to knowledge is vital to engaging younger collectors and nurturing new dealers.

Masterpiece London 2019. Photograph by Ben Fisher. Courtesy of Masterpiece

Engaging with young people and reaching new audiences has never been so important to preserving the longevity of art, and over the last few years, there has been a dramatic increase in new initiatives, young patron groups and innovative uses of social media to provide a greater level of accessibility. Christie’s Education, for example, recently launched their Young Collectors Club, The National Gallery in London have a Young Ambassadors initiative, there’s the Young Patrons Circle at the V&A, and at Masterpiece, we have a Young Collectors group as well as a school of Vetting and museums-focussed symposiums open to young professionals. These not only invite younger generations to be part of the discussion, but give them the opportunity to discover a breadth of collecting possibilities and learn as much as possible from lots of different disciplines.

Read more: An exclusive private tasting of Ornellaia with Axel Heinz

Michael Diaz-Griffith, executive director of the Sir John Soane Museum Foundation in New York, founded the New Antiquarians to generate interest in collecting amongst a younger audience and is passionate about supporting the antiques business. “In the past two years, younger lovers of art, antiques and design have really started buying. They may have relatively small budgets, but they are spending in interesting ways – often a heady mix of old and new art, antiques and contemporary design,” he told me over email.

Photography, contemporary art and design are particularly appealing to the new collector, partly due to the more accessible price points whilst the world of traditional, or older works of art is less familiar and relies on the passionate communication of the dealer or museum curator to engage new collectors. Nevertheless, the thirst of the next generation to engage with works of art, to become involved and to expand the breadth of their horizons is really exciting to see.

Philip Hewat-Jaboor is Masterpiece London’s Chairman of the Fair. Read his previous column here

This year’s edition of Masterpiece London will take place online with smaller-scale live activations in London in June. For updates and online events, visit: masterpiecefair.com

Alia Al-Senussi is an academic and global arts patron. Photograph by Anton Corbijn

Alia Al-Senussi grew up between Egypt, South Dakota, and Minnesota, and is now based in London where she works as a cultural strategist with a special focus on young patronage and culture within the Middle East. She is the Art Basel Representative for the UK and MENA, a senior advisor to the Ministry of Culture of Saudi Arabia and a guest lecturer at institutions such as Brown University and Sotheby’s Institute. Here, Al-Senussi discusses her philanthropic efforts, work in Saudi Arabia and belief in art as a catalyst for social change

LUX: What forms the basis of your passion for art and culture? When did this interest begin?
Alia Al-Senussi: I am passionate about contemporary art and supporting living artists. I focus mostly on Middle Eastern art and artists as this is close to my heart and my heritage. I very much hope I see the day when more artists of Middle Eastern origin are integrated in to the wider art world, and society looks past myopic views of political systems and embraces people, and the change they are trying to bring.

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The first time I really understood what contemporary meant in the context of art was visiting Tate Modern in January 2004, and experiencing the life-changing work by Olafur Eliasson The Weather Project. It felt like an overwhelming moment: to gaze into this vast space and to see people treating a museum like a social space rather than a temple to worship art. In this way, art could change the way we see and the way we act—I became a believer.

Art provides an alternative discourse by which we can solve problems, promote heritage and instil a sense of national pride. My hope has been that by educating artists and patrons we can then educate the wider population on the benefits that art can bring to their everyday lives, not only beautifying the communities where we live, but also promoting more creative ways to solve problems, bridge differences and build community sentiment and strength.

H.R.H Alia, 2016, Hassan Hajjaj. Courtesy the artist

LUX: What is it about certain contemporary artists such as Manal Al Dowayan that so inspire you to champion them?
Alia Al-Senussi: In Saudi artists and patrons I see this deep commitment to art as a cornerstone of an evolving society. I am proud to be a part of this fascinating art world, and to help introduce more and more of my friends to Saudi culture, and to artists like Manal AlDowayan, Dana Awartani and Maha Malluh. These pioneers, of all ages, have been the voice of their society, as well as patriot activists. They are change-makers as well as cheerleaders, leading us all in to a brave new world.

Phil Tinari, a dear friend, and brilliant cultural leader, visited Saudi Arabia at my invitation in September 2019, and immediately understood what was unfolding. He has since agreed to work with me and our team at the Ministry of Culture, as the curator for the inaugural Ad-Diriyah Biennale. Collaborating with Phil has been a sustaining (and guiding) light in this year of uncertainty amidst Covid-19. Phil sent me this message the night he arrived to Riyadh, illustrating just how quickly he grasped the changes afoot – it is a quote from Václav Havel’s 1994 speech The Need for Transcendence in the Post-Modern World:

“Today, this state of mind or of the human world is called postmodernism. For me, a symbol of that state is a Bedouin mounted on a camel and clad in traditional robes under which he is wearing jeans, with a transistor radio in his hands and an ad for Coca-Cola on the camel’s back. I am not ridiculing this, nor am I shedding an intellectual tear over the commercial expansion of the West that destroys alien cultures. I see it rather as a typical expression of this multicultural era, a signal that an amalgamation of cultures is taking place. I see it as proof that something is happening, something is being born, that we are in a phase when one age is succeeding another, when everything is possible. Yes, everything is possible, because our civilisation does not have its own unified style, its own spirit, it’s own aesthetic.”

Al-Senussi with friends at Roden Crater. Photo courtesy Alia Al-Senussi.

LUX: The world is watching the next generation of Saudis and there is an optimistic outlook for women’s voices to be heard – how have you found your passion for politics, power and patronage is received among educated women of influence in Saudi?
Alia Al-Senussi: My work in Saudi Arabia has been multifaceted, as I have been part of the moment when this cultural community came together and continued to evolve. I was lucky to have been introduced to Saudi through family, and then friends, and to have been there at the first moments of a cultural reawakening almost two decades ago, helping to make connections amongst members of the community within and outside of the Kingdom. Women were then, and still are, at the forefront of culture and are change-makers at every level.

Read more: Life coach Simon Hodges on how to thrive in uncertainty

The idea that culture can change a community was instilled in me throughout my life, but never more so than through my work with Art Basel. I have been able to translate this to so many parts of my personal and professional lives. My colleagues at Art Basel and in Saudi embrace the belief that culture has power; that it is at the nexus of change and positive evolution.

LUX: You are renowned not only for your intellect, but also for your drive. How much of your time does chairing or founding patron groups take up?
Alia Al-Senussi: I actually think I fried brain cells rather than grew them getting my PhD! It certainly was an intellectual exercise, and one that made me realise how important it is to continuously exercise one’s mind, as well as emotions. My mother instilled in me a sense of honesty, integrity and work ethic. She taught me that one must not rest on history or title, but one’s own value and contributions to society. My maternal grandfather often discussed the value of “being a productive member of society.” I have taken these values to heart and strive to make a contribution, big or small, in any way I can through the work I do.

Most of my personal and professional time is taken up with activities in art and culture. I am fortunate that many of my friends are also intimately involved in the art world so I can share these fantastic and special experiences with them. It makes it a lot easier to keep busy with work when you do it with people you love and admire!

Al-Senussi at Mada’in Salih, an archaeological site located in the area of AlUla within Al Madinah Region in the Hejaz, Saudi Arabia. Photo courtesy Alia Al-Senussi.

LUX: What exactly is your role as Chair of the Tate Young Patrons, and how do you ensure you get optimum results?
Alia Al-Senussi: I served as Chair of the Tate Young Patrons for 5 years, and now sit on the Director- and Board- appointed Tate Modern Advisory Council as well as being a founding member of the Art Now Supporters Circle (Tate Britain). The Tate holds a very special place in my heart. It was one of the first institutions I got involved with in London, through the Young Patrons. Then the Middle East and North African Acquisitions Committee was launching and I was one of the first people on board. One thing led to another and I was asked to be a Young Patrons Ambassador, and also to represent the Young Patrons on the advisory board of the Tate. I feel like the Tate is family and also that I have a responsibility to help it evolve and grow, not just in London, but in the Middle East also, and in terms of its role in society, particularly at this fractious time.

LUX: Can you tell us a little about your work with Delfina Foundation?
Alia Al-Senussi: ‘A rising tide lifts all boats’ – that is my motto, and one that I see embodied in the work of Aaron Cezar in his role as Director of Delfina Foundation. Aaron, and the foundation, are unlike any other. Delfina is a home, not just at its physical space in London, but also throughout the world whenever you come across residents (artists, curators and collectors). Delfina Foundation is a safe haven, and Aaron is the ultimate angel, providing solace and shepherding our entire community to embrace new concepts while breaking down the intellectual barriers that keep us apart.

Read more: Juanita Ingram on empowering women in the workplace

LUX: What are your proudest achievements?
Alia Al-Senussi: I discovered my passion for art and the art world by chance. Upon graduating with my MsC from LSE, some friends recommended that I meet Michael Hue-Williams to work on a project he had created in Siwa, Egypt, with the world-renowned artists Ilya and Emilia Kabakov.

I had never worked in the arts, but as I had an interest for non-governmental organisations working in the Middle East, I thought this would be an interesting first job for me. Also, the fact that Siwa bordered Libya was particularly poignant.

In the end, it was fate and I fell in love with art, the art world and everything about it. I saw it as being a perfect way for me to balance my interest in political science, international relations and the history of the Middle East with a “softer” way of approaching the difficult issues facing the region.

My entire life is shaped by this first art world experience, and by the belief that an international cosmopolitan world is a better one. Every time I make an introduction, conceive a project or bring people somewhere new, I feel a deep sense of pride – the world shrinks that tiny bit more and we learn more about our neighbours and about humanity.

LUX: How will COVID-19 affect what do you do?
Alia Al-Senussi: I hope, and fervently believe, that people will realise the importance of culture in this new and renewed world. Of course things are moving online in the short term, and I believe that this means we can share our shows and messages with a wider audience and hopefully make them want to come see things in real life. Art Basel provided me, and so many, with an online community, but this was not a substitute for the thrill of interacting with people, swapping stories, having fun and experiences in Hong Kong, Miami and Basel.

Al-Senussi at The Lightning Field.

LUX: We know you have been passionately engaged with the US election process and we would love you to share with us a few ways you think the result will benefit the work of your partners over the next four years.
Alia Al-Senussi: I have decided to embrace beauty. I also have committed myself to art and artists that reflect my values, and who work to effect positive change in their worlds, and in mine.

A large part of my Libyan identity was actually shaped by my mother, an American of Scandinavian-German origin who grew up in Worthington, Minnesota. My mother studied International History for her Bachelor’s degree in Minnesota. She fell in love with Middle Eastern culture so upon graduating decided to pursue a Master’s at the American University of Cairo. It was in Cairo that she met my father.

My American identity is inextricably linked to my Libyan heritage, to my belief in an international cosmopolitan world, and to the life I have built for myself in London, the Middle East and Asia. Everything I held dear was shattered in 2016, by others’ small-minded desire to isolate ourselves from the “other” in the US and the UK. I couldn’t imagine that was the world I was living in. How could my community reject the essence of me in such a way? My friends bundled me up, helped me to heal and gave me my marching orders (literally!). Going to the Women’s March in Washington was a therapeutic moment, and now four years later I see the change again, and I am hopeful we can rebuild and evolve by making a world that is more equitable and by embracing the ideals that I hold dear.

LUX: Any other advice for our readers who might be considering going into art philanthropy?
Alia Al-Senussi: Artists, collectors and institutions are becoming more aware, and truly taking ownership of their ability to be change-makers. I applaud institutions like the Tate that are working to accurately reflect our world in their galleries—a global cosmopolitan world.

Fill yourself with passion, surround yourself with people you admire and embrace the idea of what is right, rejecting what is wrong. As mentioned before, a rising tide lifts all boats, so make sure your community rises with you.

Follow Ali Al-Senussi on LinkedIn: linkedin.com/in/alia-al-senussi

Auctioneer Oliver Barker directing Sotheby’s global e-auctions. Courtesy of Sotheby’s.

As part on an ongoing monthly column for LUX, artnet’s Vice President of Strategic Partnerships Sophie Neuendorf forecasts this year’s emerging trends and evolutions in the art world

Sophie Neuendorf

We’ve just emerged from arguably the most difficult and unpredictable year in recent history. The Covid-19 pandemic caused a synchronised and deep downturn of the global economy in the first six months of 2020. Social distancing measures and a lockdown of businesses in reaction to the health crisis resulted in falling consumer demand and economic output. Skyrocketing unemployment shook consumer confidence, and companies cut back on investments in light of declining demand, supply-chain interruptions and the uncertain future.

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Amid the uncertainties and restrictions caused by the pandemic, fine art auctions plummeted in the first half of 2020. Total sales value dropped across all major regions. According to the artnet Price Database, global auction sales for fine art fell by 59% to $2.9 billion in the first half of 2020 compared to a more robust performance of $7 billion in the first six months of 2019.

Infographic courtesy of artnet

However, despite a 29% decrease in both the number of lots offered and sold at auction year-over-year, the global sell-through rate remained steady at 65% in the first half of 2020. Major auction houses pivoted to online platforms, generating some incredible virtual transactions. In June, Sotheby’s sold Francis Bacon’s Triptych Inspired by the Oresteia of Aeschylus (1981) for $85 million. Roy Lichtenstein’s White Brushstroke I (1965) achieved $25 million.

Even though 2020 will most likely be remembered as one of the most unpredictable and difficult years in modern history, it also pushed boundaries and accelerated the art world into the digital age. With this backdrop in mind, I’m going to take the risk and make 7 art world predictions for the year 2021 – because, if anything, last year has set the stage for some ground-breaking changes to aspire to.

1. Digitalisation is here to stay.

Plato was right: necessity is indeed the mother of invention. During the COVID-19 crisis, one area that has seen tremendous growth is digitalisation, meaning everything from online customer service to remote working to supply-chain reinvention to the use of artificial intelligence (AI) and machine learning to improve the art business. As I discussed in my last column of 2020, the digitalisation of the art market is here to stay. With galleries, museums, and auction houses pivoting online and thinking outside the box in response to the pandemic, a positive trend of accessibility, efficiency, and transparency accelerated within the art world. This also goes hand in hand with a global trend of sustainability and conscious living.

Naturally, an online viewing of art can never quite replace the in-person experience, nor should it. The impact of seeing Da Vinci’s Mona Lisa online is, of course, not quite the same as admiring it in person. However, the transactional element of the art market will emerge as a strong contender to the traditional brick and mortar purchasing process, democratising the art market and opening it up to a new generation of art lovers.

2. Some art fairs will actually happen this year. But they will be a balanced, online/offline experience.

With social distancing still de rigueur this year, it will be difficult for fairs to accommodate their usual amount of art-loving and people-watching visitors. Add to that a gallery’s sky high participation costs, especially after a difficult year, and we’re looking at only very few fairs happening in 2021. My conservative prediction is that those of us able to travel can look forward to visiting ARCO Madrid (which has been postponed to July), Art Basel in Basel, Volta Basel, Frieze London, FIAC Paris, and Basel Miami, at best. The rest of us will have to enjoy the virtual editions of these fairs again this year.

Read more: COMO Group CEO Olivier Jolivet on travel trends for 2021

3. Galleries will evolve as serious contenders to art fairs and traditional auction houses.

Gallerists have always been of utmost importance as a bridge between the creative genius of an artist and the wider public of art lovers and collectors.

This year, galleries who have embraced the innovation which the Covid-19 pandemic necessitated will emerge stronger than ever. Either through online sales and viewing rooms or through collaborations with other galleries and institutions, these art dealers will rise as serious contenders to brick-and-mortar auction houses.

4. Some young artists will start bypassing galleries and begin selling directly out of their studio via social media or other websites.

It’s already a widespread practice among young artists in Asia and I foresee it crossing over to Europe and the US this year. With countless galleries, unfortunately, having been forced to close over the last year, many artists may have become increasingly accustomed to selling via social media and other websites. Especially young artists may be inclined to bypass the traditional route expected of them by the art world, and chose to build their careers independently.

Roy Lichtenstein’s White Brushstroke I (1965) was sold by Sotheby’s for $25 million. Image courtesy Sotheby’s

5. Socio-economic issues will be at the forefront of major gallery and museum shows this year.

Artists have, historically, documented moments of change and upheaval. After a year that has compelled us to come to terms with a global pandemic, has seen us fight for equality during the Me Too and BLM movements, as well as confront global warming, now’s the time to examine these pivotal moments within gallery and museum shows.

The arts are known to push boundaries and open up discussions around difficult and oftentimes painful subjects in a spirit of tolerance, curiosity, and learning. I believe that galleries and institutions will harness this unique moment to exhibit artists who are capturing the zeitgeist.

Francis Bacon’s Triptych Inspired by the Oresteia of Aeschylus (1981) was sold for $85 million at auction by Sotheby’s in June 2020. Image courtesy of Sotheby’s.

6. There will be more fine art works sold at auction this year than over the last few years.

Given the global economic and private difficulties we are currently facing, it wouldn’t be surprising if the IRS, a divorce attorney or the grim reaper force the sale of many a private collection. It’s a rather gruesome prediction, but historically the art market has been very active during a time when some micro or macro-economic situations are under stress.

Looking at Deloitte’s Art & Finance report or artnet’s Intelligence Report, fine art has gradually emerged into a serious asset class. When you compare fine art sales to the S&P, for example, more often than not it is art which is a safer alternative asset than stocks or even real estate. It is highly likely that many artworks will find speculative buyers this year, as economic changes and challenges will cause a shift in wealth.

Read more: Visual artist Clara Hastrup on her studio experiments

7. There will be a major shift in the market resulting in a new focus on quality rather than quantity.

Life was moving along as rapidly and frivolously as usual during the months before the Covid-19 pandemic forced us into seclusion. It struck me even then that the art world was moving into an unhealthy direction, where being seen at a champagne reception was more important than the quality of work on display. Where people-watching at Frieze or Basel was far more interesting than any oeuvre, and gossiping about people or prices trumped any serious deliberations of the works on view.

However, the past year has forced all of us to focus on what’s truly meaningful within our lives and on how fleeting it actually is. How do we really want to spend our time? Do we actually have to visit all of those art fairs and events? Perhaps we should seize the moment and focus on those artists and personal interactions that really enrich our lives.

This may seem like a rather wild prediction, but I’m certain that only those galleries, fairs, and institutions will survive that really concentrate on bringing added value to our lives. Perhaps we will move to a ‘new normal’ where multiple editions of the same fair or gallery are unnecessary, but are, instead, complimented by an incredible and easy to access online offering. Now is the time to excite with quality, depth, and innovation – because time is precious.

Infographic courtesy of artnet

8. Art will not only evolve as an asset class, but also as a financial product.

Over the past few years, art has slowly evolved as a serious contender to assets such as gold, stocks, or real estate – and it is arguably a much more stable asset. Given the high barriers to entry into the art market, specifically to the high-returns, blue chip market, I predict that there will be a derivative product developed soon, to be traded on the market similarly to other indices.

Price indices offer important insights for anyone looking to track the performance of a collection of artworks produced by a single artist or movement. At artnet, for example, we already provide an innovative price index methodology that relies on the unique strength of our flagship product, the Price Database. Our proprietary method creates indices that track the evolution of artwork prices over time, which can be tailored to focus on artworks belonging to a specific medium, movement, size, or any combination thereof, and in comparison to other indices, such as the S&P. It’s only a matter of time until the exchange traded derivative is developed. Stay tuned!

Follow Sophie Neuendorf on Instagram: @sophieneuendorf

Afshin Naghouni in his studio. Photograph by Maryam Eisler

Born in Iran, visual artist Afshin Naghouni immigrated to London in his mid-twenties where he began to establish a reputation for his imaginative and dynamic artworks that blur the lines between figurative and abstract. Ahead of his upcoming exhibition in January 2021, LUX contributing editor Maryam Eisler visits and photographs the artist in his London studio

Maryam Eisler: So right now, I’m looking at your self-portrait. It’s complex…
Afshin Naghouni: When you do a self-portrait, or any focus on configuration, you tend to go towards the physical features, making sure that it looks like it should do. The moment you go towards abstraction, it becomes about focusing on other things rather than the obvious. A lot of it is conscious or self-conscious. I think a self-portrait needs to be more accurate than straightforward representation.

Follow LUX on Instagram: luxthemagazine

Maryam Eisler: Yes, I see very few cues about you in the physical sense. Is it difficult to define oneself?
Afshin Naghouni: It is if you think about it; I don’t think about it much. When I was doing it I just thought: this is me painting my inner being. I just splattered myself all over the canvas trying to think about what I am and most importantly what I am not!

Maryam Eisler: Yes, it looks like you splattered your guts! Talk to me about the reality of the last five months for you; this period of confinement and self-isolation. How have ‘Covidian times’ affected your mind, and your psyche ?
Afshin Naghouni: For me, the only direct consequence is that I have not been able to paint. Of course, I’ve doodled around at home, but nothing can replace the air in this place [the studio]. I just love it. Sometimes I don’t even paint; I just sit around, I listen to music and I breathe the air. So not being able to come to the studio for me was difficult. So what did I do instead? Well, I painted in my head, cut off from the outside world!

Photograph by Maryam Eisler

Maryam Eisler: What do you mean by ‘painting in your head’?
Afshin Naghouni: It becomes a race between what I can bring into my head and what goes onto the canvas. My mind is always way ahead of me, and I am constantly trying to catch up. When it happens, it is exciting. because you can’t stop and it becomes more physical, the application and all that. The other thing that can happen, of course, is that you haven’t figured anything out and you just want to paint. It becomes a slur because you can be ahead of your thoughts on the canvas, and you need to come back, have a cigarette, have a coffee, and try to figure out what you are trying to do. They are both equally exciting and challenging. Well, not challenging; painting is not hard. The hardest thing is just trying to keep working, and stay motivated.

Untitled #6  (2017), mixed media on canvas 150×120 cm from Afshin Naghouni’s Nostalgia & Reminiscence series

Maryam Eisler: Have you managed to remain motivated during the last few months?
Afshin Naghouni: During this whole period, I have been desperate to work. I only went out for essentials for four months. My issue is that I like people. I am a social creature. I need to have human contact and connection, and a lot of it. So, not having been able to come here [into the studio], to work and see friends, has been very difficult.

Maryam Eisler: But has it also afforded you the gift of time?
Afshin Naghouni: I have had the time to slow down. To kind of bring together all my thoughts and to reflect on the things that are moving me forward. My struggles are more conceptual in nature. For example, I have never been a great fan of abstract painting and that is primarily because I have fundamental problems with modernism, and what it stands for in its essence.

Read more: Why do we act the worst with those we love the most?

Maryam Eisler: What are those problems?
Afshin Naghouni: I find modernism just like [Clement] Greenberg did: elitist, sexist, inaccessible. I am not saying that art has to be accessible, but today, I am personally focused on form, movement, rhythm and the attempt to breathe emotion into the canvas. In the past, I would start with abstract forms on the canvas and I would gradually work my way to make it representational. I think I am going backwards now. I find that reverse process interesting and exciting. I want to create overall compositions filled with life and energy, paintings that are visually engaging, playful and experimental.

I don’t care if it’s done before one way or another. We are at a point where not much is left undone. I pinch, borrow and steal from those before me, to make things work, to empty my guts on the canvas, and then I use my knowledge to polish it. I really don’t know if it’s any good and to be honest I’m too old to overthink it.

Maryam Eisler: Is that not part of the artist’s journey?
Afshin Naghouni: I’ve been thinking about this a lot, and about why I’m doing what I’m doing – trying to make sense of it in my own head. The truth (whatever that is) is that I am sick and tired of identity-centred, self-obsessed art; art that sacrifices a great deal in order to cement the artist’s place as Middle Eastern, African, female, LGBTQ etc; art that identifies the person with everything under the sun, except for being an artist; art focused on addressing something seemingly so profound that it ceases to be art – all that self-obsessed, self-indulgent, pretentious pile of shit that crawls up gallery walls!

Photograph by Maryam Eisler

Maryam Eisler: How about art-driven identity instead of identity-driven art?
Afshin Naghouni: Ah! The art market is such a precarious thing and it has been for such a long time. I do not pander to it much. You have to, first and foremost, please yourself, present yourself I guess. It takes courage to move in different directions and it takes conviction. The truth is that I get bored! I cannot sit down and do the same thing for years on end even if I know my collector base likes certain types of my paintings. I don’t want to leave any what ifs… So I am experimenting all the time.

Maryam Eisler: How many paintings do you trash?
Afshin Naghouni: [Laughs] I do not trash. I do not burn. I just put aside.

Maryam Eisler: Who amongst art historical figures has affected you the most?
Afshin Naghouni: Picasso.

Read more: Artnet’s Sophie Neuendorf’s guide to shopping for art online

Maryam Eisler: What is it about Picasso‘s work that appeals to you?
Afshin Naghouni: His carefreeness, I think.

Maryam Eisler: Is there one of his paintings in particular that comes to mind?
Afshin Naghouni: I will always be in love of his analytic period, but I am also very much enjoying the paintings he did of his lover Marie Therese around 1932-33. I love the freedom of application and the loose strokes, childish, free and sensuous at the same time.

Maryam Eisler: Who else inspires you?
Afshin Naghouni: [Anselm] Kiefer, Cecily Brown, Caravaggio.

Maryam Eisler: What is it about Kiefer’s work?
Afshin Naghouni: The sheer scale, and his ability to achieve such amazing compositions within that scale. He is one of those few artists who has found the perfect balance between form and concept.

Nostalgia (2017), mixed media on canvas 160×200 cm from Afshin Naghouni’s Nostalgia & Reminiscence series

Maryam Eisler: Is that something you are striving for?
Afshin Naghouni: I am still trying to find that balance. Now I do not pay that much attention to concept any more; I focus on form instead. I find it exciting, it gives me energy to think about the things I want to do.

Maryam Eisler: What are you reading right now?
Afshin Naghouni: I am reading The Art of Creative Thinking by Rod Judkins. The author is a Central St Martins graduate. You do not have to be an artist to be creative. Everybody is born with creative genes. They just get suppressed by life events. I’m also reading Sapiens by Yuval Noah Harari, but it kind of depresses me.

Maryam Eisler: Why does it depress you?
Afshin Naghouni: The future that Hariri describes is not the kind of society I want to live in.

Maryam Eisler: Do you mean that you like humanity with all its flaws?
Afshin Naghouni: Yes, absolutely. I had this deep and heated conversation with a friend recently, who insisted that art and artists are going to become irrelevant, and that AI is going to create the very best art that art can ever be. But how is that possible? Until AI can get angry, can cry, can fall in love the way that we, as humans, can, it will surely never be able to surpass art created by human hands. Frankly, I would rather not be around when or if AI is ruling the world. It is often our human flaws that add greatness to any artwork.

Untitled #3 (2017), mixed media on canvas 160×200 cm from Afshin Naghouni’s Nostalgia & Reminiscence series

Maryam Eisler: Do you have an overall concept for your upcoming show in January?
Afshin Naghouni: I just want to paint between now and then the way I want to paint, free, without overthinking the process. If I only have five paintings by then, then that will be it.

Maryam Eisler: Talk to me about the courageous choice of colours in your paintings and the energy they exude.
Afshin Naghouni: Those who are familiar with my work know well that it never used to be this colourful. That’s why I say, I feel I have really rediscovered colour. I like and want to play, and if colour is the exciting dimension in the game, then let’s put it to work. I’m also a city boy. I like big cities with all the people that inhabit them. I am in love with London. It is a melting pot of cultures and that in itself is pure colour. The energy in this place is unique. I equally love the countryside, but after two weeks away, I need to return to urban colour.

Maryam Eisler: Finally, I want to talk to you about place. You mentioned that you love London, and urban life. What about the location of this particular studio [in Ladbroke Grove], and the connections that you’ve made with your local community?
Afshin Naghouni: It is amazing. First of all, in this line of arches here, there are mechanics, fashion designers, recording studios, different kinds of professionals working together, next to one another. I know them and they know me. It feels good. I like the walk from here to home and back. I never get tired of the route; everything about it offers me a colourful visual canvas of life in London. When I am going down the road, I just listen to the sounds that accompany me all along, and I feel the energy. I love everything about it. The community around here is also very strong; we try to make things work together all the time. We rely on one another. I really miss that interconnectivity.

Discover more of Afshin Naghouni’s artworks: afshinnaghouni.com
For more information on the artist’s upcoming show at HJ gallery in January 2021 visit: hjartgallery.com

Note: this interview was conducted prior to the UK lockdown in November 2020.

Jimi Hendrix, London, 1967, Gered Mankowitz

With many national lockdowns reinstated across the globe, the majority of this year’s festive shopping is  taking place online. Launching her new monthly column for LUX, artnet’s Vice President of Strategic Partnerships Sophie Neuendorf discusses the benefits of buying and gifting art remotely

Sophie Neuendorf

Nothing is more enduring or powerful than a work of art. Throughout history, it has been artists who have documented the zeitgeist, from religious convictions to frivolous fêtes or times of social unrest and upheaval. It is also always artists who push boundaries and promote an atmosphere of tolerance and peace.

Follow LUX on Instagram: luxthemagazine

Especially now, at a time when we’re all forced to be secluded and are closing our houses and boarders, art has the power to open up a cross-cultural exchange and bring hope and light into our homes and our hearts. What’s more, art has the potential to provoke important discussions around current issues such as religion, gender, race, and politics. With the recent presidential election, and the ongoing Black Lives Matter, and Me Too movements, these topics will remain very current leading into this year’s holiday season.

For many of us, the holiday season is one of the most wonderful times of the year. 2020, however, is confronting us with unprecedented new challenges, and also an element of sadness and caution. Many of us will not be able to visit our grandparents; some of us won’t be able to travel home for the holidays; and a few of us will have suffered the loss of a family member or friend this year.

Untitled, 1964, Sam Francis

So, the question is: how do we celebrate the holidays pandemic style? By surprising our loved ones with witty, thoughtful gifts to make them happy for months, and years to come! Thanks to online technology it has never been easier to buy and ship directly, allowing us to get into the spirit of giving without the anxiety of social distancing.

Read more: Three major art patrons and a fine art photographer are transforming London’s shopfronts into a pop-up gallery

Whilst sites such as net-a-porter.com and matchesfashion.com provide excellent browsing material, why not try something new this year and invest in an artwork? Buying art online isn’t as complicated as it might seem. Although the art market has been slowly moving online over the past few years, the coronavirus pandemic has accelerated this transition. Now, with the help of cutting-edge technologies such as AR or VR, you’re able to visualise an artwork within a room and to scale, to ensure that the piece you love is perfect for your home. You can also chat with a specialist throughout the research and bidding process.

Study for Canadian Forest, Robert Longo

At artnet, for example, we offer a range of ongoing auctions which you can browse and bid at leisure from the comfort and safety of your home. From David Hockney to Richard Prince and KAWS, from Modern & Contemporary fine art to photography or abstraction, you’ll be spoilt for choice. It takes two minutes to register and then, you’re ready to go. Once you place a winning bid, your funds will be safely held by artnet in escrow until you or your loved ones receive the artwork in a perfect condition. And yes, there’s a returns policy. Now go ahead and treat yourself or someone else!

Sophie’s 5 top tips for buying art online:

1. Learn how to recognise quality and prioritise it over everything.
It’s much better to own one great artwork than five mediocre works. The beauty of bidding online is that it removes the time pressure of a live auction room. Take your time to browse, choose, and place your bid on that one piece you love.

2. Be patient and wait until a work of high quality within your budget comes up for sale. Then be prepared to act decisively and quickly. Don’t get discouraged if you miss out or end up being outbid; the next opportunity is always around the corner.

3. Study prices and the market extensively so you can spot good deals when they come up. At artnet, we have the art market’s most extensive and trusted price database, which is an excellent research tool. If you don’t have time, get advice from one of our specialists who are very happy to help, or work with a reputable advisor.

4. Take transaction costs into account prior to bidding. Buyer’s premium, shipping, insurance, taxes and duties can add significant costs to your acquisition. We can calculate all that for you at artnet.

5. Enjoy yourself. Art collecting is excellent fun!

Browse artnet’s current auctions via artnet.com/auctions

This 1995 Ferrari F512M Coupé will be on sale at the Bonhams auction in Zoute, Belgium on October 11

Modern classic cars, desirable machines from the 1980s onwards, are hotter than ever, with demand not damped by the pandemic or constraints against driving. So for that reason, LUX Editor-in-Chief Darius Sanai says he is reluctantly putting his beloved Ferrari F512M, one of the craziest Ferraris of them all, up at auction with Bonhams

The economic ramifications of the coronavirus across the upper echelons of the collecting market have been unpredictable. Walking home from an emptying office at the start of the lockdown in London in March, I bumped into a gallerist friend, who was in the process of locking up the doors of his famous gallery in Mayfair for a potentially indefinite period. What did he think would happen in the art market, I asked him (this was a time when I naïvely believed that people would knew the answers to questions like this). “Carnage!” he said.

Follow LUX on Instagram: luxthemagazine

Last week I was having a drink with another friend, one of the most significant collectors of contemporary art in Britain, and a good client of the same gallerist. My friend was bemoaning the state of his investments – not his stock market investments, which were doing very well, but the companies and people he has invested in directly. The companies are in the hospitality and retail sector, and having to let good people whom he knew and liked go was was eating him up, giving him sleepless nights, he looked drawn, despite his fitness regime and wealth. And how was the art market, I ventured, expecting more sharp intakes of breath, and of single malt. “Brilliant! I’m selling, and the prices are amazing!”

2014 Bugatti Veyron 16.4 Grand Sport Vitesse sold for $1,750,000 at the Quail Motor Car Auction in August.

My friend’s observation was evidently a reflection of the specialised part of the top end of the market in which he is selling – abstract expressionism. The art world itself has been hit severely by lockdown. According to one survey, by UBS and Art Basel, art gallery sales fell by 36% in the first half of the year – although falling sales do not equate to falling prices for the most desirable works.

Another part of the collectibles market that could logically have been expected to collapse during the last ten months, but which has not, is that of classic cars. The sector has even more going against it than the art world at the moment. Announcements by governments that the sale of new fossil fuel cars will be banned during ever shorter time spans; ever stricter restrictions on driving in cities; coronavirus-induced road changes in favour of cycles and pedestrians.

1956 Lister-Maserati 2.0-Litre Sports-Racing Two-Seater sold by Bonhams for £575,000.

And unlike collectors of Rothkos, the classic car market is not restricted to ultra high net worth individuals who have seen the size of their wealth increase during coronavirus due to a boom in the stock market. Classic cars encompass everything from £5000 MGs to £50m Ferrari GTOs. And the different segments of this market, while separate, are not hermetically sealed. If the price of a Ferrari Daytona drops, then a Ferrari 355, at a tenth of the price, also tends to drop. Yet, despite everything, the classic car market has been doing well across some of its tiers.

Read more: British artist Marc Quinn on history in the making

“Despite the challenging circumstance, the collectors’ car market has fared better than other sectors,” says James Knight, Executive Director at auction house Bonhams. “Although some sellers were initially concerned that the timing was right for selling a valuable collectors’ motor car, our (online live auction) system has been successful. We have sold cars and have sold them well – many at pre-COVID level prices. This success has given others confidence and we’re seeing healthy volumes come to market and being sold for market-correct prices.”

Knight says the market has been doing particularly well in the “hot” area of modern classics, cars desired by the latest generation of collector. “We are seeing a trend towards more modern classics and supercars becoming ever more popular. The demographic of buyers is changing – younger buyers are entering the classic market and they are looking at the ‘poster’ cars of the 1980s, 90s and even of this century.”

The Ferrari F512M had the final development of Ferrari’s famous “Flat V12” engine.

So, with this in mind, I have entrusted my beloved “modern classic” Ferrari F512M for sale at Bonhams auction in the swanky silver seaside resort of Zoute in Belgium on October 11.

After I bought it, in 2015, and drove it across southern England for the first time, I saw it as the last car in my small collection that I would sell. The F512M has all the elements of a true collectable. It is rare: only 500 were made, in 1994 and 1995. It looks striking, with the celebrated cats claw scratches down the sides, and a wide, flat rear straight out of an arcade game. It is the ultimate iteration, and technical pinnacle, of a famous model: the Testarossa, which was launched in a nightclub in Paris in 1984.

Read more: Four leading designers on the future of design

The Testarossa (Redhead) gained fame in Miami Vice, and was improved into the 512TR in 1991. Three years later, this evolved into my car, the F512M (“M” standing for “Modified” in Ferrari-speak). As well as a modernised front and rear (which does divide opinion – some found the original rear treatment more classic), it was the pinnacle of development of Ferrari engine and suspension of its time. The engine’s internal parts were made lighter by the use of rare metals, the suspension was modified for even racier handling, and the car in general was given the performance needed to be at the top of the Ferrari tree in the mid 1990s. The F512M was the fastest road car in the world, until the appearance of the special edition Ferrari F50, costing a multiple of the price, in 1996.

It is a quite astonishing thing to drive. The F512M has no power steering, And while it is a lighter car than its replacement, the 550 Maranello, it does as a consequence need quite an effort to haul it around corners in town. The flipside is there is nothing interfering with the communication of the road surface to your fingers, when you get out on to faster roads and the steering becomes both manageable and responsive. Power-assisted steering systems, and particularly the latest electronic power assisted systems, cannot compete in terms of pure road feel. And the F512M’s manual gearbox (newer Ferraris have the easier-but-less-exciting paddleshift) is such a thing that a senior Ferrari executive drove my F512M and tweeted about it in delight.

Bonhams director James Knight says this particular example has the “holy trinity” of superb condition, perfect provenance and low mileage.

The subsequent 550, and later V12 Ferraris, were tuned more towards comfort and cruising, attracting a broader selection of buyers than the hardcore purchasers of a F512M. And the focussed and rare nature of the 512 is reflected in its price: good examples retail for two to three times the price of its more modern, comfortable 550 Maranello successor. Indeed, the F512M is the the last of a monstrous line that began with the 365 Berlinetta boxer in 1973, a family of Ferraris with a 12 cylinder engine placed not under the bonnet, but right behind the driver and passenger’s head. The sound, from centimetres away from your ears, when accelerating at full spate, is quite frightening – as if you are inside the jaws of a ravenous Tyrannosaurus Rex.

There is something else quite special about the F512M. Every Ferrari made afterwards was equipped with safety devices like stability and traction control, which meant that if you were about to lose control of the car by accelerating too fast around a corner, the car would notice, and stop you from doing so, electronically.

The F512M being sold by our Editor-in-Chief was previously owned by one of Spain’s most prominent collectors, who kept it alongside the rest of his Ferrari collection in a heated underground garage. When we bought it, we put it though Ferrari’s official 101 point Approved car check, which it passed with flying colours

Not only does the F512M not have any kind of safety control “nanny”: it is also the most powerful-ever general production Ferrari with a V12 engine placed behind the driver. On the one hand, this means for thrilling handling: turn the feelsome steering wheel, and there is no engine weight over the front wheels to create inertia by creating momentum through its mass and resist the turn. It just turns.

The corollary of this is that when the back of the car also turns, a nanosecond later, the mass of the engine turns with it, and if you get your cornering wrong, will wish to continue turning, American-cop-car-in-street-chase-style, until you go round in a circle. Keeping this under control at high speed would be both a challenge and a delight – although to be fair, the advanced suspension and huge rear tyres mean breaking traction only really happens when you want it to. I’ve never done it.

Read more: How Chelsea Barracks is celebrating contemporary British craft

So why am I selling it? Firstly, I simply do not have the opportunity to take it out onto the road where it can be driven properly. This is a car that needs to be driven from London to Tuscany at high speed. I barely have time on a weekend to get from London to Oxford.

Also, in the little leisure driving time I have, I have become an increasing cultural fascist about convertibles. I believe cars with open tops are right, and everything else is wrong. Or something like that.

1959 Porsche 718 RSK Spyder, sold for $2,232,500 at Bonhams Quail Motorcar Auction in August.

Sadly, they did not make an open top version of the F512M. So, I want to sell it and put the money towards an open-topped V12 Ferrari. You will find full details of my magnificent F512M, which I purchased from one of the most prominent collectors in Spain, here.

As Knight himself says about this car: “The Testarossa is one of the modern Ferrari icons and the F512M was the final and the rarest version with just 501 examples produced. This is a very special motor car as it represents the ‘holy trinity’. It is offered in superb condition, having been exceptionally well-cared for; it has covered fewer than 20,000 kms and has the all-important provenance, which includes full Ferrari service history.”

If you’re the lucky buyer, please promise me a ride. I will miss her. And meanwhile, long may the market for collectibles thrive – after all, driving a two-seater Ferrari, you and your passenger are in glorious self-isolation as you hurtle towards your destination, enjoying every second.

For more information visit: bonhams.com

London Art Studies offers mini art online art history classes for members

London Art Studies is the world’s first online arts education subscription website, offering mini video lectures and courses on artworks, artists and movements. Ahead of the site’s launch of a new section dedicated to children and teenagers, we speak to the founder Kate Gordon about creating effective short-form content and the future of the art world.

Kate Gordon. Photo by Ki Price

1. How did you progress from your early role in production to launching an educational art platform?

I took a very roundabout journey into television, starting at Sotheby’s, moving to Carlton Television where I worked on a variety of shows, and then ended up making art programmes for CNN. When the CNN show was cancelled, I was offered a job back at Sotheby’s as Head of Public Programmes for their educational arm. I found I loved combining brilliant teaching with a more popular approach; it was the early days of what now might be called “edu-tainment” and I set up London Art Studies in 2012. A couple of years after that, a friend mentioned that people around the world would want to see our classes and that was the lightbulb moment. It took 2 years to film the beginning of our content library, and we finally went online with our own educational platform in 2018. I didn’t realise until after we launched that I was carrying on a family tradition: my grandmother was a theatre producer, my father a TV producer, and I now produce short-form content for the internet.

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2. Most of the online videos are under five minutes long with many focusing on one specific artwork – why did you decide on this format?

Despite having more technology around us than ever, we’re all that much busier, aren’t we? It’s fairly easy to watch a 3 or 5 minute film, and learn something which stays with you. I also felt that going back to basics for some of the films made sense: everyone knows that the Mona Lisa is the world’s most famous painting, but does anyone really know why? Our short films aim to answer these questions, whether you’re about to visit an art gallery, standing in front of a particular artwork, or simply curious to learn more. We currently offer 12 different series: whether you’re now “virtually travelling” and want to find out what to see in a particular European city, or what really what made Picasso so brilliant, there’s a series to discover. We wanted also to explore the links between art and jewellery, and were lucky to launch our latest series with master jewellers Christian Hemmerle and James de Givenchy.

3. What drives LAS’ content programme?

Our subscribers are terrific, and often suggest series ideas, but it’s often simply a phrase (such as Dangerous Women) or a book concept. One of our most popular series “The Art Market” came about through Georgina Adam’s best-selling book. It’s something the team usually wants to learn more about, or indeed, to teach. There’s a lot of content out there, and we have to make sure that our films are not only relevant but useful. We received our first award only 5 months after launch, for excellence in education, and our most recent award – the Webby – is the digital equivalent of an Oscar. Our approach is often light-hearted, such as our 30 second Instagram post on how to pronounce van Gogh (for example) but the content is serious.

4. Can you tell us about the concept of The Academy and your decision to launch this summer?

We had always planned to launch a site for children/young people, but the lockdown speeded up our plans to do so. We had so many parents email us, saying they were watching the videos with their children, that we realised we had to bring forward our plans to help with home schooling. We’re aiming at ages 7-17, and have been fortunate in finding a new group of teenage presenters, whose enthusiasm for art is easy to see onscreen; I’m learning more from our teenage presenters than I ever thought possible. We’re also aligning content with the A level syllabus, in the hope of exams in 2021. It will also be a useful resource for those off to university to study art history, who haven’t actually taken the A level. People now consume on average 70 minutes a day of filmed content online; it should – and can be – both educational and enjoyable.

Read more: ionic cars are transforming classic cars for an electric future

5. How do you think the global lockdown will impact the future structures of the art world?

I think there’ll be great changes structurally for the time being; we’ll no longer be able to simply wander into a gallery without an appointment, or join a crush to see the latest blockbuster. I think museums and institutions are already moving to a hybrid model, with a larger global audience online. I think institutions will engage with local communities that much more, now that tourism numbers will probably decrease. I hope, and suspect, there’ll be more collaboration within the sector as a whole, and perhaps a slightly more agile approach when considering potential new pathways. Lastly, I believe the art world will make a conscious decision to reflect more of our diverse society and encourage the talents of those who have been traditionally overlooked.

6. Which period of art do you find most interesting and why?

I’m the eternal student, and it’s a great bonus for me that I can continue to learn as I work. I tend to think in terms of themes (the nude, the Baroque etc.) and we’re now editing a series called “Best of British” which explores everything from satire to seduction in British art. I find understanding contemporary art the hardest field for me, but am comforted by the fact that all art was contemporary, once, and that people have struggled for centuries with it. If pushed, I particularly enjoy seeing the links between art of the past and today; it’s how our series “Reflections: Then & Now” came about. We link works by Kerry James Marshall with Manet, and Cindy Sherman’s creations to Caravaggio. I enjoy referencing the past, alongside the art made today.

Find out more: londonartstudies.com

Lorenzo Uggeri, founder of online art marketplace Kooness.com

In 2015, Lorenzo Uggeri swapped his job as an analyst in the steel industry to launch an online marketplace for fine art: Kooness.com. The platform now showcases work from over 600 galleries across the globe and last year, Uggeri appeared on Forbes’ prestigious 30 under 30 list in Art & Culture. We put the young entrepreneur in our 6 Questions hot seat.

1. How did you come up with the concept of Kooness?

Four years ago, I was at my friend’s house and a friend of hers gave her a piece of artwork as a gift. We were spending a lot of time trying to understand which wall the artwork should be hung up on in order for it to fit best in the space. At that moment, I thought of the idea to make an app with virtual reality [technology] to understand where the artwork can fit best.

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At that time I was working as an analyst in a big company in the steel industry. After I came up with the idea, I started studying the art business market, in particular the online art market and I found out that there were many different possibilities. I decided to quit my job and move to New York City where I attended a summer course at the Sotheby’s Institute of Art.

While I was in New York, I changed the business plan for Kooness. From the initial idea of virtual reality, I decided that Kooness was going to be an online marketplace where galleries could increase their sales and find collectors, and collectors could find artists and galleries.

Kooness caters for established and new art collectors, says Uggeri

2. Is the platform designed more for established collectors or new buyers?

Our motto is to transform simple customers today into the collectors of the future. The idea of Kooness is to democratise the art world and give access to people that are not really in the art market. From an outside perspective, the art market appears to be very closed off. People are often afraid to ask about prices and information when they go to galleries, therefore Kooness gives people the possibility to experience the art world in a different way. At the same time, we also have established collectors that use our platform since we work with over 600 galleries in 25 different countries, which gives collectors the chance to see new artwork from smaller galleries and young emerging artists. Therefore, we cater to both new and established collectors.

‘Interno 7’ (2018), Teresa Giannico

‘Fragile Gebilde’ (2019), Sali Muller

3. How are online art platforms impacting the larger art market?

Online platforms are completely transforming the art market. Many major auction houses are investing in creating their own online platforms to give clients the possibility to bid directly. The world is constantly becoming more digital and it is necessary for the art world to join in.

When I started Kooness, people were very sceptical since it was a completely new way of doing things and it made them uncomfortable. The segment of our platform is increasing, the revenue is double digits every year. In a couple of years, the revenue will come from the online platforms for galleries, auction houses and collectors inside the art market.

Read more: Savoir Beds’ MD Alistair Hughes on the value of craftsmanship

4. What advice would you give to a first time buyer looking to build a collection?

I would give them the same advice as an experienced collector gave me the first time: buy what you like. I have talked to many experienced collectors, they all have told me the exact same thing: collecting is a process and you will never start out with discovering the new Picasso of this generation as your first piece. When you start collecting, your taste will change and you will start to develop an eye.

5. Which galleries should we be keeping our eye on right now?

I can not really name names as I work with many galleries. I was recently in Basel and there were many amazing galleries there, from established to new. There are also many great galleries from Milan that play an important role in the art world today such as Massimo De Carlo gallery and Francesca Minini. It is quite difficult to suggest a gallery since you find so many different things in each gallery, it depends what you are looking for.

‘Reception’ (2018), Daniel Mullen

6. What’s next for Kooness?

We have big plans. By the end of July, we will launch our blog chain platform for the certification of artwork. For a platform like Kooness and I think I can talk of behalf of my competitors as well, it is important to give the collectors something new every 2-3 months since the competition is very high. There are many smart and young people working in the art industry and everyone plays a small part from working the blog chain to working as an advisor. Therefore, it is important to embrace every aspect and include them in one platform, which is what I do with Kooness. I make improvements around every three months to give the collectors and users new ways to experience art in order to provide the best digital art experience.

Discover Kooness: kooness.com

Interview by Andrea Stenslie

One of Rachel Whiteread’s so-called shy sculptures, ‘Cabin’ (2016), on Governors Island in New York, her first major permanent public commission in the United States

Rachel Whiteread, winner of the 2019 Whitechapel Gallery Art Icon award, has illuminated the world’s art scene with her blazing originality, her wit and her unique perspectives, for more than 30 years. She speaks to Darius Sanai about creating something out of nothing, the joys of London, and the importance of being bored

Rachel Whiteread in her studio, 2011

LUX: Your works create something from nothing. Is it a kind of anti-matter that you are creating?
Rachel Whiteread: That’s exactly right. I’ve always tried to make something out of nothing.
Something I used to do at college a lot was just stare at a white wall or a floor and visualise what I’d want to make from that space. I’d see what it was, so it was still something but it was out of nothing. It’s still a practice that I do, I suppose like a meditation, but I didn’t ever call it that. It was just, you know, staring at the wall.

There’s probably not enough staring into space done now. Everything’s always about looking at images, like on Instagram. Everything is just so full up that what I try and do is empty out. You wouldn’t think it from the chaos of my studio, though.

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LUX: Is there just too much social media around now?
Rachel Whiteread: Yes, I think so. People don’t know how to be bored anymore – I must have been saying this for years. Being bored is one of the most essential things of life, because what you do is you then work out how to not be bored, and by doing that, you open up a creativity in your mind. Even if it’s just deciding that you’re going to cook something or you’re going to read –whatever your creative outlet is – people just don’t do this anymore. They’ll scroll through Instagram instead and look at thousands of everyone else’s borrowed images. I think there’s something to be said about really slowing down the brain; it can be a very useful thing to do.

LUX: Will distraction of this kind affect future artists?
Rachel Whiteread: I suspect it will, but I also think that there’s going to be a backlash to all this and that people will just start to shut down a bit and try to be quieter about what they do, because you can’t just scream and shout about it. It’s hard for young artists. I’ve got two sons, they’re 13 and 17, and it’s difficult for them to be young anymore, to be able to play and enjoy life in a certain way, because you can just turn on the computer and you’re immediately entertained and distracted.

‘Shack I’ (2014), one of two concrete casts of cabins in the Joshua Tree National Park in California.

LUX: How do you decide what to create next?
Rachel Whiteread: Normally one thing leads to another, to be honest. I have had an exceptionally busy year de-installing and installing at the Tate, in Vienna and Washington. I have just come back from Washington where the exhibition has just opened, and also cast a very large piece, another one of my ‘shy’ sculptures, that’s in the Dalby Forest in Yorkshire – it’s a cast of a Nissen hut that’s been made as part of the First World War centenary. I have had a busy time doing all of that, and I am now having a breather before I get going again. I am at the pre-production phase of a new body of work.

LUX: Do you ever consider the reaction to your work while you are planning it?
Rachel Whiteread: I am very fortunate to be in a position to be able to do what I like. There has been a lot of controversy over various works I have made, but this is not something I court, it is simply in the nature of the objects.

‘Cushion’ (2006)

LUX: What gives you the most satisfaction?
Rachel Whiteread: Luckily for me, the show at the Tate gave me an enormous amount of satisfaction. It was five years in the planning and has travelled very successfully to Europe and America including the National Gallery of Art in Washington. I have very much enjoyed doing the retrospective, looking back at thirty years of work – it has been really helpful.

Read more: PalaisPopulaire & Berlin’s Cultural Revolution

LUX: What are your frustrations in making your art?
Rachel Whiteread: It is becoming harder and harder to find large studio spaces. Gone are the days when artists could colonise derelict areas in London. Consequently there is a lack of places for young artists to work. Luckily for me I am able to stay in London and carry out some of the more ambitious things, but it is very expensive. But what are the annoyances? That the day isn’t long enough, that I’m getting older and don’t have quite as much energy – I’ve got a bad back [laughs].

LUX: You’re carting heavy materials around…
Rachel Whiteread: That’s down to years of not looking after my back properly; it catches up with you. You think you’re forever young, especially when people were constantly calling you the YBAs [Young British Artists].

LUX: London – is it an integral part of who you are?
Rachel Whiteread: It’s totally integral to who I am. At one point we looked into moving out to Norfolk or Essex. To get a place with land where I could build a big studio, but I thought, actually I can’t. I need the frisson and busyness of London.

‘Nissen Hut’ (2018)

LUX: What do you love about London?
Rachel Whiteread: I love the multicultural world, the soupiness of London. It’s the one of the best cities of the world. I love the way the people are mostly extremely tolerant of each other. I love the way it’s an enthusiastic city and it has so much to offer culturally – even if you don’t go to that much you still feel it around you – it’s a bit like osmosis, it touches you somehow. I love the green spaces, I love the built-up spaces, I love the Thames, I love the canals, I love the way in which London can have these complex urban spaces and then these very beautiful but still very urban spaces. And so much has been done with trying to get wildlife going. It’s just a great community – a load of really good, interesting villages all stuck together – that’s sort of what London is, isn’t it?

LUX: After so much progress in tolerance over the past few years, are things now going the other way?
Rachel Whiteread: Completely, yes. Terrifying. I hate to think what we’re going to be leaving our children and grandchildren. There’s a sour feeling in the world at the moment and it’s not pretty.

LUX: It’s inexplicable, isn’t it? There are a people with a lot of money feeling angry.
Rachel Whiteread: A lot of it has got to do with Brexit. There are so many people who were sold a line that they just didn’t know what they were voting for. And the reality of that is sinking
in. It’s an appalling waste of money, time and energy – and for what, in the end? In the UK in particular there are a lot of people who are angry in London, and outside London, too, and quite rightly so for being neglected and ignored. Money is not coming in to pay for things that are needed, resources are at an all-time low, and there’s not enough housing. So for all of those things it’s a really complex city to live in, but when things work, they work brilliantly and people cross-culturally can really rub shoulders together and get a lot out of each other and that’s a great thing.

‘Untitled’ (100 Spaces) (1995), installed at Tate Britain in 2017

LUX: Your art has a blend of seriousness and wit – would you agree that this also describes yourself as a person?
Rachel Whiteread: My work is me, I couldn’t make anything else. It is totally me, it’s how I think, how I exist in the world.

Read more: Gender stereotypes and the male nude in art

LUX: Is there a responsibility with your influence? Are you tempted to use it?
Rachel Whiteread: I’ve got two children and a job, and I don’t have the energy for it. Maybe later on. My parents were both very political and it’s certainly in my DNA. The ways I can influence people are by giving lectures, by sharing my work.

LUX: How does it feel to be the Whitechapel Gallery’s Art Icon for 2019?
Rachel Whiteread: It’s nice to be recognised for the many decades of hard work, and everyone likes to be recognised. It is a great honour. The Whitechapel is a fantastic institution doing fantastic things and has such a great and rich history.

‘Holocaust Memorial’ (1995-2000) in the Judenplatz, Vienna

LUX: Do you believe that gallery funding should come from the state?
Rachel Whiteread: When they’re very much community-led galleries, which places like the Whitechapel are, then I would say yes. They’re for a community as they’ve always been. It’s just extremely hard raising money for galleries, and now there are a lot more than there used to be, they all need funding and they all have to find ways of making money. It’s complicated. But they are therefor the public and therefore the government should fund them.

LUX: Does the amount of money being spent in the art market seem strange?
Rachel Whiteread: The whole economics of the art market doesn’t sit comfortably with me. A lot of artists are generally left-ish, and a lot of them find that dichotomy difficult, because it’s a tough thing to think about.

LUX: Is it true that the punk movement influenced your generation in the art world?
Rachel Whiteread: Absolutely. I grew up in the seventies in London, I went to a few punk gigs. They were a bit rough for me to be honest [laughs]. But I was quite young at the time, so I’d go to the Marquee in Wardour Street [in Soho]. The gigs were pretty scary but they had an enormous influence upon me.

‘Monument’ (2001), installed in Trafalgar Square, London as part of the Fourth Plinth Project

LUX: Did you have any idea at art school what kind of art you would go on to produce?
Rachel Whiteread: No, the whole development of making my art was a gradual process, but certainly the seeds were sown at Brighton [Polytechnic] and the Slade [UCL London].

LUX: Did you always plan to be an artist?
Rachel Whiteread: Not initially, though my mother was an artist and there was always a strong familial influence. However, I always imagined that I would have to teach in order to sustain my practice as an artist. I have been very fortunate though, and my art has supported me.

LUX: Was it serendipity that you and the other Young British Artists, such as Tracey Emin and Damien Hirst, were contemporaries?
Rachel Whiteread: It was total serendipity. People say it was a movement, but it just happened to be a certain moment in time where this political and creative energy came out. One of the artists I relate to most is Sarah Lucas. She grew up just down the road from me and I didn’t know her when we were children – we came from very different backgrounds. I was from a middle-class home and she was from a working-class family, but there was definitely the London energy in the work we both made. The YBAs were simply how the stars were aligned and we were fortunate to be doing our work together at the same time.

Rachel Whiteread is the Whitechapel Gallery Art Icon 2019 with Swarovski. Visit whitechapelgallery.org/support/art-icon-swarovski

This article was first published in the Winter 19 Issue.

David Hockney byAndy Warhol, ca. 1972, Polaroid © 2018 The Andy Warhol Foundation for the Visual Arts, Inc. Licensed by DACS, London. Courtesy BASTIAN, London

Established in 1989 by Celine and Heiner Bastian, BASTIAN opened its first gallery in 2007 in Berlin. Now, the gallery has placed itself on the global art map with the grand opening of a new space in Mayfair. LUX speaks to the founders’ son and gallery director Aeneas Bastian about Andy Warhol, the London art market and how collectors are doing things differently

Aeneas Bastian. Courtesy BASTIAN

LUX: Tell us about the London gallery and how it came to be.
Aeneas Bastian: I felt that when coming to London we should be in the middle of the traditional gallery district in Mayfair so we found a space on Davis Street [No. 8], which is fairly close to Phillips auction house and the Gagosian gallery. I remember starting this search for a London exhibition space about two years ago. I looked at quite a number of properties, but I had a very specific idea in mind so it took quite a long time to actually find the right space and this feels perfect now.

I really like Berlin, it’s my home town, I grew up there and I think it’s become a fantastic metropolis, but it is not a major market place. So I think trying to build a bridge between Berlin and London, Germany and the UK could be an ideal combination of two different worlds. And I could not think of any other major city in Europe that has the same the same kind of status or importance as London, especially when you look at the quality of exhibitions, both commercial exhibitions at private galleries and exhibitions in public institutions. Especially in Mayfair you can see that people are trying to achieve something outstanding, they’re committed to excellence. Berlin is different – it is quite experimental – so you see promising young artists working in their studios and creating fantastic work. And it’s probably the same in other fields, in restaurants or fashion. You would find some of the leading individuals in London, and maybe some of the most interesting new talent in Berlin… I think that’s the difference between the two cities.

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LUX: Why did you choose Andy Warhol rather than a German artist for your opening show?
Aeneas Bastian: That’s a good question! I’ve thought about this for quite a long time because obviously we would also like to be a showcase of German art in London, showing well known German artists who may not be as well known in the UK, but also younger emerging artists too.

Warhol, along with [Cy] Twombly and [Joseph] Beuys, has been one of the key artists when we look back at the early years of the gallery’s history. So I thought it would be interesting to bring that back and to take it to London, but I’d like the following exhibitions to be devoted to German art.

LUX: Is it Warhol’s polaroids particularly that you specialise in?
Aeneas Bastian: Yes, it’s the polaroids and we have some of the rarest and most important polaroid portraits, especially of other artists and some writers, actors, musicians and also a few people who came to the Factory when it was not just a studio or a place of production, but also an international meeting place. So, in a way, looking at these polaroid pictures is also a bit like taking a time machine and landing in New York in the late 70s early 80s. Some people are maybe lesser known today and some have become even more iconic, or famous. It’s very interesting looking back at this period now…

The gallery has always had a particular focus on post-war German and post-war American art too, including artists likeJoseph Beuys, Anselm Kiefer, Cy Twombly, Robert Rauschenberg as well as Warhol. They’ve always had a special place in our exhibition programme and have been essential for the development of the gallery, which was founded thirty years ago by my parents, Céline and Heiner Bastian. They were both curators and they knew Warhol well. There was no commercial link in any way at the time, but they worked together on exhibitions, projects, books, publications, and brought some of Warhol’s exhibitions to Germany during his lifetime. Today, we would probably define my parents as art advisers, but at the time, I think the term wasn’t really used.

Jean-Michel Basquiat by Andy Warhol 1982, Polacolor ER © 2018 The Andy Warhol Foundation for the Visual Arts, Inc. Licensed by DACS, London. Courtesy BASTIAN, London

LUX: The market for post-war art and now, what we call 20th century and modern art — did that rise and then fall again in the 90s?
Aeneas Bastian: Yes, looking back at those changes, of course we’ve seen remarkable increases in values, but also several moments of crisis. When I speak with my parents about those times they always tell me that the art world was so much smaller, it was essentially a few European countries including France, Germany, Switzerland, Italy, and the UK, and then there was America, but except for maybe a small group of Japanese collectors there was no Asian market, and no one would ever go to Australia or India or Africa, or the Middle East. There was no global market.

LUX: Do you think there’s been a renewal of interest in late 20th century art recently, or has the interest always been there?
Aeneas Bastian: I think it’s always been there, at least in London. Berlin has had this sort of edgy, young contemporary art focus that sometimes modern art, twentieth century art seems to be missing because it’s always about the present. But I think London has always had this particular strength of offering such a wide range to art collectors from Old Masters to the present day. There is no other place in the world that could offer that kind of quality, especially when collectors are a bit more eclectic and interested in different periods and different forms of culture.

LUX: Are the big twentieth century artists, the ones who are no longer with us – such as Pollock or Warhol or Lichtenstein and so on –  mostly collected by people of that era or by younger generations too?
Aeneas Bastian: I think it’s both. It’s two worlds coming together. Elderly collectors who have had the privilege of maybe knowing the artist, and young collectors who have obviously not met the artist, but who are now becoming familiar with the work and studying, going to see survey exhibitions and reading catalogues raisonné and books written by experts, immersing themselves in the world and work of the artist.

Read more: A taste of Hong Kong’s future

LUX: In terms of collectors and the people buying art: how are they choosing? How do they come to their conclusions and how are they guided?
Aeneas Bastian: It used to be a very personal thing. You would meet a professional or an adviser or an art dealer and have a face to face conversation, and while this still happens today, now it’s also about digital communications. People are increasingly using these new ways of communicating, they are more open to just having a look at websites, they even use social media, like Instagram.

I don’t think people would necessarily say that an expert opinion is something that counts more than anything else, and I think that used to be the case. You used to say that there’s a particular scholar or an expert who would really be the person with an expert opinion and the ability to judge a work and the purchase or inclusion of that work in an exhibition would very much depend on that person. I think that’s not necessarily the case any more.

LUX: Is that a good thing?
Aeneas Bastian: I think it’s just the way that the world has changed. It has become more open in many ways, and I do think, in the end, that this is a good development. We are not limiting ourselves any longer to an art world centred in Europe and the United States, seeing men rather than women as experts, or looking at European artists all the time and forgetting about artists from other places in the world.

BASTIAN Gallery, 8 Davis Street, Mayfair, London. Photo by Luke Walker

Paloma Picasso by Andy Warhol ca. 1983 © 2018 The Andy Warhol Foundation for the Visual Arts, Inc. Licensed by DACS, London. Courtesy BASTIAN, London

LUX: How important is it for artists, whether alive or dead, to be shown and supported by public galleries as well as commercial?
Aeneas Bastian: I am deeply convinced that it can have a tremendous impact, of course we are art dealers too, but we really understand understand the significance of public and non-commercial exhibitions. I think a talented artist only shown by commercial galleries may be one day more or less forgotten if there’s no public recognition. If the works are not part of museum collections, then the artist may disappear.

LUX: Finally, can you reveal anything about the other exhibitions you’ve got planned for London?
Aeneas Bastian: I’m certain we will have an exhibition of Emil Nolde, one of the German expressionists and a prominent German artists of the generation of Kirchner and Beckmann who is regarded as one of the most influential 20th century artists in Germany. He’s not unknown in the UK, but I think his work really deserves to be seen.

BASTIAN Gallery’s inaugural London exhibition ‘Andy Warhol: Polaroid Pictures’ runs until 13 April 2019. For more information visit: bastian-gallery.com

The investment potential of the best art will just keep on increasing, says Simon de Pury, one of the world’s most renowned auctioneers, as art becomes ever more aligned with high luxury.

Simon de Pury

Art is the ultimate luxury. You don’t need it to live, which is a definition of a luxury. And in the past few years other similarities between the art market and the luxury market have emerged.

Ten years ago you would go to different – not luxurious – parts of town to see art. In New York you would go downtown; in London you would go east for certain exhibitions and galleries, for example. Now, though, in the art business you need to be very central for the same reasons as you do in the luxury market: it’s all about location, location, location. Thus the concentration of top galleries that are installing themselves in Mayfair in London, while in New York there is a return to the Upper East Side. There’s a lot of artistic activity focusing on these areas because when the international traveller comes to town, he stays in the heart of the city, goes to the top hotel and wants to have everything in an immediate circle, and wants to not have to waste too much time pursuing these passions. So all of that has had an impact, changing the market quite fundamentally. Galleries are now seeking real estate in the same locations as the top luxury brands.

Read next: Interview with Guillaume Davin, CEO of Moynat

Art is also the ultimate luxury because you get emotionally involved, and if you go about it smartly it can be a very rewarding passion. Rewarding in every sense.

Erik Bulatov, Rouge a Levres, 1994, pencil on paper

In concurrence with these developments, the art market is changing also. The market has become global, so for the first time you now have people from all parts of the world buying art from all parts of the world. Compare this to the Cold War, when some artists in the east had no idea what was happening in the west: you had artists working in total isolation. Today there is much easier access to knowledge and information about what is happening in different places through the digital revolution. And this has fuelled further internationalisation. You have biennials in Havana, Sydney, Shanghai, Venice and Istanbul. There is a now a great exchange of information and knowledge, and with knowledge comes a greater interest in acquiring.

Read next: How one of Azerbaijan’s richest men does business 

The information that used to be accessible to a small group of insiders is now much more easily and much more widely accessible. As a result, if you look at a list of the most affluent people in each country, 20 years ago there would have been a relatively small percentage of those who were collectors, whereas now if you look at the same lists, there’s a much bigger percentage collecting. And it’s also that which gives art the ultimate status. You can be a very successful businessman, yet it will never give you the same kind of kudos as you get when you are building a great collection. It’s your cultural achievements that leave your biggest mark and your imprint, and that is one reason why individual collectors in different parts of the world have become the main cultural movers and shakers – much more so than the main institutions.

Erik Bulatov, Perestroika, 1989

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Nonetheless, there are factors any collector should be aware of. Your collection is your self-portrait. Collecting is an artistic, creative pursuit in itself. By collecting you show who you are and give yourself an identity. For that reason your collection cannot be put together by a committee: it has to be one person who takes the decision of what to buy and (just as important!) what not to buy. Equally, having a professional adviser who is very familiar with the market can help you avoid making mistakes and can help you to navigate the market, so it makes sense for people who have built substantial collections to have either in-house or external specialists that they consult. But even so, it is important that the person who is building the collection follows their own instincts. I often see people who start collecting becoming as knowledgeable as anyone else in the market.

There are questions of a market readjustment. Whenever the market becomes stronger and stronger there are always moments of readjustment. No market just goes vertically up without any fluctuations. And, of course, tastes evolve as well, so what is regarded today as the most desirable things may not be regarded as so in 50 years. Having said that, if you buy only the best quality you can only do well, because you can analyse it statistically from the 1850s onwards and see sufficient documentary evidence that the prices of major art transactions just keep going up. Still, there are some masters of the past – not just artists of our times – that we value much more highly today than 50 years ago. But be aware: there will always be artists who are like a fashion phenomenon – once the initial excitement dies down, so do the prices.

Simon de Pury is an art auctioneer and collector and the founder of de Pury de Pury. depurydepury.com