ART BASEL HONG KONG 2018: a quick guide

by Tiziana Maggio/Published on Look Lateral Magazine

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On March 29th the sixth edition of Art Basel Hong Kong (ABHK) will open its doors at the Hong Kong Convention Centre and we will be there. Some 250 galleries from 32 countries will feature masterpieces and contemporary artworks, attracting artists, dealers, and collectors from all over the world, confirming this city as one of the most attractive art destinations and the third-largest art auction market in the world, after New York and London. The three-day show will offer to visitors seven sections: Galleries, Discoveries, Insights, Encounters, Kabinett, Magazines, Film. Also, as it happens in Miami and Basel, the main fair will also be accompanied by concurrent exhibitions and events, like ASIA ONE and ART FUTURES.

We look forward to seeing some multimillion-dollar works: Levy Gorvy Gallery will display the $35 million Willem de Kooning’s Untitled XII from Paul Allen’s private collection, while Lehmann Maupin will have Gilbert & George’s “Beard Junction” and Jeff Koons will wow visitors as usual with the enormous Bluebird Planter and the Swan at David Zwirner Gallery’s booth. Then, if we will be lucky enough, we could also have the chance to encounter the artists themselves, from Tracy Emin to Jeff Koons who will definitely seduce potential buyers’ attention.

CONSOLIDATION AND INNOVATION: THE FUTURE OF THE GALLERY MODEL
March 8, 2018,  Armory Live Theater/ Panel Discussion

by Tiziana Maggio/ Article published on Look Lateral

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As part of The Armory’s program of talks, this one-hour panel focused on possible new strategies to support the future of mid-level galleries. Panelists were all US-based, with two New York gallery owners, Marianne Boesky and Wendy Olsoff (both booth-holders at this year’s Show), collector Marguerite Hoffman and two art financiers, Evan C. Beard, from the U.S. Trust for Bank of America, and Andrea Danese, CEO of Athena Art Finance Corporation, lead sponsor of this year's Armory.

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The panel started by agreeing on one fundamental point: the traditional gallery business model, firmly rooted in outdated 19th Century strategies, is inherently capital intensive and high risk in its approach. This model leaves many struggling in what is an almost Darwinian fight for survival.   
This is why it is financially unviable for many mid-tier galleries to even join international fairs, let alone the number needed to build and maintain a competitive advantage in the market. 
Instead, it is likely more beneficial to stick to a calendar of in-house exhibitions, where a wider and active local community is engaged in the promotion and acquisition of art.

Another way to boost a gallery’s future may be to create scale by establishing or joining gallery networks. This may lead to fewer profits per sale but could allow a wider vision of shared resources, intelligence, cross-promotion agreements, and regional partnerships.

Evan Beard, however, was of a different opinion, focussing more on strong capitalization and effective real estate strategy. In general, he favors a more corporate and institutional gallery model, also emphasizing the importance of good succession planning so that galleries may outlive their often charismatic founders well into the future.

That said, Wendy Olsoff expressed concern with this approach. If gallerists and artists lose control of how their art is presented and traded, the art itself could risk becoming a pure financial commodity or consumer product. These two diametrically opposite opinions are clearly based on different interests and expertise: a ‘go big and corporate’ strategy where the gallery brand comes first (viz. Larry Gagosian), as opposed to a more collaboration and artist-driven model (viz. Marian Goodman).

The panel finished on the subject of cryptocurrencies, with all seeming to agree that these could well become an important form of tender. Beard noted the growth of securitization as one factor, whilst Olsoff added that the new generation of artist’s interest in crypto might be another. Hoffman finished by confessing that she was herself a crypto investor saying “I don’t want to become a dinosaur”.

Betwixt at the Hospital

by Tiziana Maggio

I was recently invited to a private view of the Baldwin Gallery’s ‘Betwixt’ and once again I was impressed by the bold curatorial choice of the fantastic Hospital Club.

Photo by the baldwin gallery

Photo by the baldwin gallery

With this very elegant temporary exhibition, photographic works by two Canadians artists, Meryl McMaster and David Ellingsen, are mesmerising the Club’s members as they drink & dine.

The young Canadian Meryl, despite her cute shyness during the Q&A, shows a great maturity of visual challenge. The allure of the colour and motion in her works really steal the limelight. David’s works, whilst promising, suffer rather from the ‘not-another-skull’ feeling, due to the over-exposed Damien Hirst variant that has bewitched diamond lovers and caused art consultant nightmares since 2007.

Go: if you like to be challenged by oneiric images in beautiful spaces and if you want to start using words like ‘betwixt’ and ‘anthropocene’ in your 2018 vocabulary.

Don’t go: if you think that skulls ‘shouldn’t be objectified’ or that ‘photography should primarily document real life’… (Yes, I am quoting you my friend, who ditched me on the day of the private view!)