New Chinese Art Collection to Showcase at the Guggenheim

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New Chinese Art Collection to Showcase at the Guggenheim

 

The Guggenheim in New York City is currently expanding its collection in order to focus more on the evolving, complex nature of Chinese identity. Richard Armstrong, who has previously worked for other prestigious American institutions, such as the Carnegie Museum of Art and the Whitney, publicly announced in Hong Kong that the New York Guggenheim will showcase seven Chinese artists.

While this white colored rotunda has had its fair share of exhibitions, this is a precious moment for this Guggenheim branch to further indicate their ever growing, eclectic global collections.

The various artists come from the Robert H.N.Ho family Foundation, which has an initiative that primarily focuses on guiding and cultivating the potential for Chinese artists. Based in Hong Kong, this foundation’s mission is centered around the notion of art development to be one of the main cornerstones in overall societal growth.

With less than a year for these artists to make their creative mark in the New York Guggenheim, the museum’s collection will actually be completed for the public during the beginning of November. Chinese artists such as Sun Yuan and Peng Yu have been chosen by Richard Armstrong to exhibit their work that focuses on their nation’s history, ever changing political atmosphere and specifically how these factors contribute to their identity.

Both Sun Yuan and Peng Yu are especially appealing to the NYC Guggenheim because they are currently at a very unique, transitional phase in their careers as artists who have not yet peaked in their professional field, but are not necessarily new to the scene. The expected work that will display this iconic, white spiraled museum will traverse a wide array of forms, ranging from visual clips to large installations throughout the gallery.

In addition to an exhibition focusing on the work from contemporary Chinese artists, the Guggenheim is also in the process of acquiring art from the 1980’s-1990’s. According to Alexandra Munroe, the museum’s Asian art curator, art from this era is experimental and outlandish in nature, offering a very different, more visually intriguing side complementing contemporary Chinese art.

Interestingly enough, this show is expected to be the most extensive art collection of this nature to have grace a US based museum. Although there are limited details as to when or what this exhibition would specifically entail, it is clear that Chinese artists will be on the rise on the American art scene in the years to come.

Art Collecting: Beginners Guide to Starting an Art Collection

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art-collectionArt collectors around the world know that first and foremost, art is about passion. Art collectors tend to hold their collections near and dear to their hearts because chances are if they chose to invest in them, it’s because they have a personal connection with them. That being said, you shouldn’t sink your money into anything that can give your heart that familiar tinge of emotion. You should do your research, consult with the right people, and make sure that your purchase makes financial sense for your individual circumstances. But, you should be passionate about the art you’re investing in. Don’t buy art to impress others or because you want a big pay off when it appreciates in value. Buy art because you enjoy it.

First time buyers are often not sure where to start. And understandably so. Collecting art is in itself an art form. Here are some quick tips to help you when you’re just starting out in the art buying world.

Establish a realistic budget from the get-go.

It’s easy to get caught up in a high-priced passion piece and blow your budget before you’ve even gotten started. Decide from the beginning how much you’re prepared to spend and how many pieces you would ideally like to have. Make sure to factor in figure costs into your budget such as framing, maintenance, and insurance. You’d be surprised how much that can add to your total cost.

Think long term.

Once you find a peace that speaks to you, make sure it fits within your long term collection goals. Each piece should have a meaningful place in the overall purpose of your collection. What you buy today should be enjoyed for years to come. It shouldn’t be looked at as a short-term profit unless you’ve found an up and coming talent before you believe they’re about to hit it big. This can be a fun and lucrative exception.

See as much art as possible.

Part of being a beginner is learning the ropes. There’s no better way to begin understanding the art world and start forming opinions about what you would like in your collection than by seeing as much art as possible. The more you see, the better you’ll understand what’s out there, what it costs, and most importantly, what you like. Find out where your local galleries and museums are. Subscribe to an online art publication or magazine. Attend a few art fairs. These are all great places to start.

Don’t rush.

Waiting to buy your first piece can feel like waiting to open presents on Christmas morning. It’s an exciting and engaging process, but don’t buy the first pretty thing that comes along. Wait for a piece that you truly love and want to spend years admiring.

Make sure you understand the buying process.

Are you buying a new piece for sale directly by the living artist or are you buying it from a collector at an auction house or gallery? Make sure you understand the fees involved in the transaction. Galleries usually take their fee from the seller, but auction houses can charge an additional 20 – 25 percent buyer’s premium.

Do your research.

Before you agree to buy, make sure you learn as much about your potential piece and it’s creator. The gallery or auction house can likely fill you in on many of the details, but don’t shy away from doing your own research back at home. You may also want to consult a professional advisor who can estimate the long-term value of the piece.

Compare the price to similar works.

If you aren’t sure what a fair price is, chances are you’ll get a better idea by looking at the selling price of comparable works by the same artist. You can obtain this information from the auction house or gallery or from the online auction records of Christie’s, Sotheby’s or Phillips. Another great tip: you can sometimes find more reasonably priced art at charity auctions and studio tours.

Don’t hesitate to seek a professionals opinion.

Art advisors make a great living at what they do for a reason: people need professional guidance. If you’re unsure or having serious doubts about a potential purchase, by all means meet with an advisor. Not only will they make sure you’re not making a poor investment, but they’ll also be able to guide you to similar pieces and artists based on what you have shown an interest in. They have insider knowledge that takes years and sometimes decades to acquire. Take advantage of every resource you have, and you’ll be sure to sleep soundly knowing you’ve made the right choice.

 

Follow these tips, and you’ll be on your way to a collection that you and your loved ones will adore. As the writer Chuck Klosterman once said, “Art and love are the same thing: It’s the process of seeing yourself in things that are not you.”

Former Goldman Chairman – Art Collector Jackpot

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portrait-of-beatrice-hastings-1915Former Goldman Sachs’ employee John Whitehead sadly passed away earlier this February, leaving behind a vast fortune including real estate, automobiles, and even art. For art collectors, Whitehead’s collection was a jackpot. John Whitehead possessed a total of 90-pieces in his collection, including rare pieces by Vincent Van Gogh, Pierre Bonnard, Claude Monet, and Amedeo Modigliani. His collection is valued at over $40 million.

It is reported that Whitehead had a few pieces valued from $7-$10 million, including the Portrait de Beatrice Hastings by Modigliani from 1916.

Whitehead began working at Goldman Sachs’ in the late 1940’s and worked his way up the corporate ladder. On the way he picked up a few tips and developed a love for the arts. John’s own art advisor Achim Moeller explained,

Naturally, I have always esteemed the relationship between the collector and his art advisor. For this reason alone, I regard my own with John Whitehead as an achievement, akin to noteworthy collector-advisor associations that have existed through a great part of art history.”

Both Whitehead and Moeller hoped the vast collection would be sold in a lot to keep the art together, but it is evident that the pieces will create a greater profit if they are solid separately.

Besides the Beatrice Hastings piece, he also has a Claude Money from 1888, Paysage de matin, which is expected to bring in anywhere from $6-$8 million alone.

Whitehead used his Wall Street wits to land him most of his collection, but he did get lucky in some scenarios purchasing the Modigliani for only $10,500, now worth over $10 million. Whitehead explained in his biography,

This sort of appraisal was entirely new to me, nothing like anything I’d had to do at Goldman Sachs or any other aspect of my life … but I remained enough of a financier that I took an interest in the prices, and I tried to predict what price an individual piece would go for at auction.”

Rather then going for the main auction at the show, he would go for the ones which he believed would increase in value overtime. This strategy worked leaving him close to $100 million in art work.

For more about Etienne, please visit Etienne Kiss-Borlase‘s main website

China Reveals Top Collectors of Art

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Christie’s Asia+:First Open 2014, Hong Kong, October 2014In recent year, art collectors have been popping up over the world, many spending millions to secure collections of art which are deemed priceless around the world.

Forbes claimed the top three collectors in China as,

Eric Chang, Deputy Chairman of Christie’s Asia and International Director of Christie’s Asian 20th Century and Contemporary Art Department; Nick Simunovic, Director of Gagosian Gallery Hong Kong and Bao Yifeng, co-founder of Art021 art fair, and of the Chinese Young Collectors’ Council, an upscale organization connecting young collectors in China.”

These three are expected to spend anywhere from $100,000 upwards to $1 million on their art collections. They are also gaining notoriety as credited art collectors who are buying up collections which until recently seemed invaluable.

All three collectors explained that over the past 18-24 months, the youth has gotten extremely involved in purchasing art collections in China, and the numbers investing is still on the rise. Even though art buying has a social standard attached with it, it is still a family discussion and decision at the end of the day. The judgement and respect of elders still plays a major role before any purchase, but the youth is beginning to gain more power in buying.

Even though the youth has a tight budget compared to their elders when making a personal buy, they are becoming smarter in terms of buying and sending the art to exhibits to display. They understand the value and are slowly beginning to grasp what is popular and what is a good buy for the price.

The potential for youth to grow out of their families shadows is growing daily, and the youth could run the collection game very shortly once the reigns are handed over from the elders.

For more about Etienne, please visit Etienne Kiss-Borlase‘s official website.