New York’s big auction season can always feel like a marathon. “How tired will it be this time?” Every time I haven’t started, I will think about whether I will be tired to the point of unconsciousness in the end.
A crisis-ridden banking sector and rising interest rates further heighten the stakes in the ongoing auction season, with Christie’s, Sotheby’s and Phillips all selling, with cumulative art prices between $1.3 billion and $1.9 billion ( Need to add the slightly smaller Bonhams and Doyle auction houses here), and at least five art fairs and countless gallery openings, plus MoMA PS1 and Whitney’s dinner events and countless galleries Dinner parties… no one should be able to run through all these events.
So, how do seasoned collectors spend their time and money during this period of intense art activity?
“When I learned what the last two weeks were like, I reminded myself to reschedule,” said Scott Lorinsky, a ubiquitous and very active collector.
He thinks such an “art tour” is like a circus, and he plays a role in it.
“I was invited into the marquee, dressed and reappeared, to cheer, to buy popcorn,” said Lolinski, who runs an alternative asset firm. part of the circle, so what’s there to complain about?”
Lorinski, who also sits on the board of directors of the Center for Curatorial Studies at Bard College, said he watched the auction preview but left “stunned.” In contrast, he focuses more on art fairs and gallery shows, where he can support artists and dealers more directly.
“Normally, I’d buy at Independent and Frieze. But I’m also going to Art Basel, so don’t get too involved in May because Basel is only a few weeks away.”
So far, Lolinski has collected about 800 works of art. He doesn’t work with art advisors, trusting his eyes, intuition and the relationships he’s built over the years. While he visits hundreds of booths, he usually only buys from six to 10 galleries, including Andrew Kreps and Gordon Robichaux.
At the VIP opening of Independent art fair on May 11, Lorinski was drawn to Abstraction by artist Pam Glick at Stephen Friedman Gallery, which is opening a space in Tribeca. But Lolinski isn’t quite ready to buy (Pam Glick works range from $12,000 to $70,000), and the gallery will be showing more of the artist’s paintings at Frieze. When we were at a gallery dinner at La Mercerie in SoHo, he said he really wanted to buy Glick, but was looking for the right size — not too small, not too big.
Right next to Glick’s booth at Independent, MoMA trustee Lonti Ebers was fascinated by the work of artist Gina Litherland, a surreal artist, at the Corbett vs. Dempsey booth. Theist, whose images are rooted in Norse mythology. In fact, the first piece Ebbers bought at the gallery was a ceramic sculpture by another artist, Magalie Guerin, a French-Canadian artist based in Marfa, Texas, for $6,000 , easy to buy. (It’s worth noting that all three works by the artist on display sold out within the first 30 minutes of the show.)
“Then I looked up,” Ebbers said, and that’s how she saw the Litherland painting, priced between $15,000 and $30,000. That’s another story.”
Her next stop that day was TEFAF New York, and the showroom aisles were more crowded than ever. Directors of some of New York’s top museums, including the Met’s Max Hollein and MoMA’s Glenn Lowry, chatted enthusiastically with collectors and dealers. CNN anchor Anderson Cooper stopped by a $4.5 million Giacometti sculpture at Thomas Gibson Fine Art. Actors Colin Jost and John Krasinski admire Impressionist works from the Richard Green Gallery.
Ebbers made a beeline for Tina Kim’s booth to see her collection of Pacita Abad paintings. She loves art fairs because it allows her to see a lot of things quickly and is always on the move. Generally, she doesn’t go to auctions unless she’s commissioning a work. And she has always followed Art Basel. “I don’t buy anything bad. I always have expectations for Basel,” she said.
As for the socials — when deciding which of the four dinner parties to attend, she says it depends on the distance, “I live downtown, so I don’t go miles away.”
Beth Rudin DeWoody, trustee of the Whitney Museum of American Art, is also not a big fan of going to dinner parties.
“They’re too late for me,” she said, “and they’re too loud. So I usually pick and go. If it’s early or if I have good friends, I might go.”
During her 10-day stay in New York, she spent most of her time with curators visiting as many art fairs and galleries as possible.
“I’m going to Frieze, and maybe NADA, Spring/Break and Independent,” she said, “and maybe Future Fair if I can.”
She might also visit auction previews and some museums. But a must do is attend Whitney’s board meetings and dinners.
“I’m kind of overwhelmed,” she said. “I shouldn’t be spending that much. The assistants are making me slow down spending money on art. But it’s hard for me.”
Other collectors will have to make a choice. Alexander DiPersia spent a lot of money on an exhibition in Paris featuring Basquiat and A.R. Penck, but at one point he was even going to bid on Christie’s “Neuhau” the other day. A Georges Condo (it was estimated at $1 million to $1.5 million and sold for $2.7 million) in the Masterpieces from the Smith Collection sale.
“If I get the work, then there might be a choice,” he said ahead of the auction. “I would love to live with the painting. But that might mean I have to sell the other one I have. I don’t need three Condos.”
Unlike collectors who like to patronize galleries, Tippohia’s focus is on the auction floor, and he has participated in auction previews many times.
He said: “You look at the stuff in the big galleries and you think the primary market prices are too high. Take George Condo, if you want to buy it at Hauser & Wirth and not buy it at auction, then You’re crazy.” (Prices ranged from $2.8 million to $3.6 million at the artist’s latest show in Los Angeles.)
New York collector Max Dolgicer agrees. “Galleries are constantly raising prices for hot artists.” He lists artists he’s interested in: Rashid Johnson, Barbara G. Ruger, Mark Bradford, Tracey Emin.
Dorjiser also likes to look for the hottest works in the auction preview. “If you’re lucky, you can get something cheaper at an auction than in a gallery,” he said. Considering that auction houses charge commissions as high as 27 percent for works priced at $2 million or less, this is a shocking fact. “You know, even with the commission, it’s still cheaper.”
In addition to the auction, Dorjiser also went to TEFAF New York, “I’m so happy! It’s like going to St. Barthes (St. Barthes) – who wouldn’t want to go?” He said he would also go to Frieze and Some dinner parties.
If time is enough, Dorjiser also plans to “detour” to Rome to see Tracey Emin’s exhibition, just go for a weekend, and come back in time for Christie’s 21st Century Art Evening Auction. “Her paintings are getting better and better,” he said. “It’s a short trip, but I think it’s worth it.”
Although commercial prosperity has attracted many international collectors to New York, it is not the most important purpose of all. Greek shipowner George Economou, a board member of the DIA Art Foundation, spends his time meeting with museum directors and visiting artists’ studios.
“We discussed how we could help the museum collection in a number of ways,” said Skarlet Smatana, Director of Collections at Economo, “and that might be our number one priority.”
They follow a strict daily schedule to make sure everything gets done, starting with the auction preview. “We’ve been looking at historical sources that haven’t changed in the 20th century,” says Smatana (they love Francis Bacon’s self-portrait and de Kooning from the Neuhaus collection). They also added more mid-career female artists. Next year, for example, the foundation will present works by Dana Schutz in its annual exhibition in Athens.
“My job is to find the best and most suitable artwork for Economo,” Smatana said. Economo then decides which ones to buy.
Of course, not all people who come to New York come to buy works. Helsinki-based John Lindell is visiting New York soon to commission Phillips to auction off four of his works of art, including Andy Warhol’s famous “Self-Portrait (Fright Wig)”.
Lindell, who turns 70 next year after 40 years of collecting, is now considering selling his work. But, as any seasoned collector knows, there can be temptations sometimes even when you’re not thinking about buying a work.
“Sometimes you come across something that you’ve been looking for for years and you see it and you don’t buy it,” Lindell said. “Hopefully I can go back to Europe without buying anything.”