Thursday, October 16, 2008

Alexander Calder

The five suitcases in which Calder transported his Circus, 1926-31

George Michael & Kenny Goss @ Frieze

At Frieze yesterday, Texan Kenny Goss and his partner, singer George Michael, revealed that they are planning to build a new 10,000 sq. ft gallery in Dallas for their collection of British contemporary art. “Our plan is to have one of the most interesting contemporary art spaces in the United States. If all goes as planned, we should be in our new home in the next three to four years,” said Mr Goss. -- The Art Newspaper

Wednesday, October 15, 2008

Alison Jackson

Art is the New Gold

There is no question that art has investment value. Over the summer, Richard Fuld, the chairman of the now-bankrupt Lehman Brothers, and his wife Kathy, a trustee of New York's Museum of Modern Art, consigned 16 works on paper to Christie's. Presciently, they secured a guarantee in the region of $20 million regardless of the sale's outcome. Even if their consignment's top lot, a 1951 de Kooning drawing, doesn't achieve its low estimate of $3 million when it goes on the block in November, it will always be worth something - which is more than you can say about a share in Lehman Brothers. For months now, art dealers have been gleefully exclaiming, "Art is the new gold!" Certainly, it's a reassuringly tangible object when so many markets are scarily virtual. And it is more emotionally and intellectually rewarding than a gold bar. telegraph.co.uk