International Activities

Notes on International Sculpture Sales 2009: The Economist November 28th 2009 reviewed the international art market and noted that, despite the significant downturn following the longest bull run in a century of art market history, “there are still buyers in the market” (Special Report page 3). The biggest problem alleged is not 8 lack of demand but lack of good work to sell, due to little confidence in the market. The market is expected to bounce back, and attention is drawn to the key features involved:
Globalisation: a dramatic widening of the spread of market buyers geographically, with China now occupying third place after America and Britain, and more buyers from Russia, Asia and the Middle East;
Collectors and museums hanging on to older works, but great expansion in contemporary art (10% 1990s to 30% of Sotherby‟s revenues 2008);
Large increase in the number of museums in America, Europe, Middle East, Asia;
Large increase in number and diversity of private collectors, with particular interest in iconic works such as those of Jeff Koons.
In listing the top ten prices at auction year to date in 2009, The Economist included the following sculptures:
Constantin Brancusi: Madame L.R. 1914-17: $US 37.8m
Eileen Gray: Dragons Armchair 1917-19: $US 28.3m
Alberto Gicometti: L’Homme qui Chavire 1950-51: $US 19.3m
Edgar Degas: Petite Danseuse de Quatorze Ans 1922: $US 18.8m
In addition a special box on Jeff Koons noted a collector in 2008 offered over $US 80m for his Rabbit, and it was noted that some contemporary market insiders described him as one of the greatest sculptors of all time.
Details of their works can be found at the following links: please copy and paste the entire link in one operation:
Constantin Brancusi: Madame L.R. Attractions appear to be the blend of simplicity and sophistication in his works, and his leading the way in modernism in sculpture.
www.artnet.com/Artists/LotDetailPage.aspx?lot_id=3303B50ACAB34A3876A4FC40C2DCFA09
Eileen Gray: Dragons Armchair. One article noted her as the most important female designer/architect of the 20th century, if not of all time.
www.mediabistro.com/unbeige/furniture/eileen_gray_dragons_chair_fetches_28_million_on_day_two_of_ysl_sale
_109600.asp
Alberto Giacometti: L’Homme qui Chavire. He appeared obsessed with creating his sculptures exactly as he envisioned through his unique view of reality: as thin as nails.
www.wsj.com/article/SB10001424052748704328104574516491577202698.html
Edgar Degas: Petite Danseuse de Quatorze Ans. He is described as one of the founders of Impressionism, though he rejected the term, and preferred to be called a realist.
www.musee-orsay.fr/en/collections/works-in-focus/sculpture/commentaire_id/small-dancer-aged-14-
2202.html?tx_commentaire_pi1[pidLi]=842&tx_commentaire_pi1[from]=729&cHash=07f4d74885
Jeff Koons: His popularity is attributed to his perfectionism, scrupulous editing, durable materials, relatively small output…and the joy and sex in much of his work (The Economist). See www.jeffkoons.com

…Geoff Williams 29 Nov 2009