First Edition: Uncertain Times, Invest in Art
September Newsletter
It feels like every conversation we've had since COVID revolves around art in "uncertain times." While this topic has come and gone, the recent financial issues at Sotheby’s remind us that there may be more storms on the horizon for the art market (see WSJ’s “The Art Market Is Tanking. Sotheby’s Has Even Bigger Problems.” The auction house appears to be overleveraged and is providing IOU’s as payment — yikes.)
But here’s the silver lining: collecting art during economic downturns can actually be a savvy move.
🌊 Deep Dive: Collect in Uncertain Times
Many seasoned collectors know that uncertainty often brings unique opportunities. Cue business titans like François Pinault, Steve Cohen, and David Geffen, who all seized countless opportunities to acquire key artwork in 2008, expanding their impressive collections when prices dipped.
As market dynamics shift downward, we will likely see prices stabilize or even decrease, creating an opening to snag pieces that might have been out of reach otherwise. This also likely means less exponential speculation on trends and a focus on quality and longevity.
So if you were looking for your art-purchasing-sign this may be it. Investing in art in an uncertain market can help diversify your portfolio while supporting artists and cultural preservation during a period when it’s needed most.
On that note, if I were building a collection this fall, here are a few places I’d start looking…
Museum & Gallery Exhibitions
🍎 New York
Miranda Fengyuan Zhang at Clearing (through November 2). Miranda has been on my radar for a few years now, and she just keeps getting better. She is known for her vibrant, textile pieces created from leftover industrial threads sourced from Chinese factories.
Josh Kline’s Social Media at Lisson Gallery (through October 19). For a true portrait of our “unusual” times, Kline’s exhibition challenges the concept of self-portraits using 3D technology, exploring themes like employment, individuality, and the gig economy in the digital age.
🌴 Los Angeles
I will be making a beeline to “nativemanson” by Arthur Jafa at Sprüth Magers’ gallery in Los Angeles when I am there in mid-October. Jafa’s works always make me pause and appreciate the power of art.
Olafur Eliasson’s retrospective at MOCA Geffen Contemporary, Los Angeles also looks like a must-see. The artist is known for his immersive environmental installations that explore climate and human perception.
🦝 Toronto
If you can make it to Towards before October 6th, Kareem–Anthony Ferreira’s layered nostalgic works are pretty special, and if you’re more of a painting person, check out Sophia Lapres’ show opening on October 10th.
🗳️ Washington DC
Need an art break during what we all know will be an interesting November, politics wise? Exhibitions of Felix Gonzalez-Torres’ work are always meditative and reflective, so stop by the Smithsonian’s National Portrait Gallery from mid-October through next summer.
🌮 Mexico City
Both Danh Vo’s exhibtion at Kurimanzutto and a group show — Los sueños de la luz / Les rêves de la lumière, curated By Marisol Rodríguez — at Mariane Ibrahim Gallery look like perfect sources of inspiration.
💂🏻♀️ London
Visit the Tate Modern to wrap your head around the versatility of photography — A World in Common: Contemporary African Photography features works by 36 contemporary African photographers and is on view through the New Year. While you are there, you’ll also likely experience the wild and whacky world of Mike Kelley, and be prepared to potentially adjust your understanding of what constitutes as art.
Art Fairs
Atlanta Art Week, closing October 6th, Hana Ward's "Cowpea Consciousness" pop-up with Ochi Gallery.
Installation view of Hana Ward's pop-up with Ochi Gallery in Atlanta Frieze in London and Art Basel Paris in October are the places to be this fall, if you want to dip your toe in the blue-chip pool.
If you are in Italy before the end of November you can’t miss the Venice Biennial for some serious conceptual and sculptiural inspiration.
NADA & Untitled in Miami in early December, plus 1,000 other fairs, is a great spot to start if you are in the more is more mentality.
If the above is inspiring, get out there and see some art in your city (if you live outside the above, always happy to provide a few personal recommendations)! Given the market, I’ll reiterate that it is a great time to support artists and think about building your own collection. If you’re feeling the squeeze, go out and see some art regardless — commercial gallery shows are always free, and often museums have discounted days. You might just find pieces that speak to you both personally and financially. It’s all about discovering what resonates with you while making an impact on artists and the culture around you.
👋 Parting Words…
I’ll be visiting the above shows and more in Los Angeles next month — let me know if you have any not-to-miss spots for art, food or otherwise!
Until next time…
XX, B