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Subject: What We Learned last Week (2409)
From: Artelligence <artelligence@substack.com>
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View this post on the web at https://artelligence.substack.com/p/what-we-le=
arned-last-week-2409
Welcome to Artelligence
If you have comments, complaints, tips or just want to vent, feel free to c=
ontact us directly:
In This Issue
Results: Sotheby=E2=80=99s Contemporary Curated =3D $25.7m
Frieze Los Angeles: Los Angeles=E2=80=94and the Frieze fair itself=E2=80=94=
were active and engaged with reports of solid sales
Notes: Hauser=E2=80=99s different approach to global art selling; Eric Turq=
uin=E2=80=99s sleeper success
Christie=E2=80=99s Leans Into Boetti in London: There=E2=80=99s always a bu=
ll market somewhere and today it seems to be in Boetti
Playing the Field: Industry vets Ines de Seroux and Megan ODell launch Fiel=
d Recruitment
Results
Sotheby=E2=80=99s Contemporary Curated =3D $25.7m
Sotheby=E2=80=99s Contemporary Curated sale on Friday performed at the same=
overall volume as the September edition last year. The hammer ratio was a =
weak-but-not-terrible .98 and the sell-through rate was 82% or just about t=
he industry average. That sell-through rate was achieved by withdrawing 13 =
lots with an estimate value of $3 million. The average estimate value for t=
he withdrawn lots was just below $250,000 reflecting the continuing weaknes=
s in the upper levels of the middle market. Of the 208 lots that sold, 25% =
were bid above the estimate range; 42% of lots were sold within the estimat=
e range; and 33% had to be sacrificed for compromise prices below the low e=
stimate. The lots bid above the high estimate had an average estimate of ju=
st under $50,000. Lots sold within the estimate range had an average estima=
te of $94,000. Works sold below the estimate or that were bought in had ave=
rage estimate values between $84,000 and 88,000.
The chart above records the performance of some of the lots we isolated las=
t week in our preview of this sale. Some of the works that performed within=
the estimates were expected to sell much higher (Adnan, Baber & Reinhardt.=
) Four works were bid above estimates. The Miyoko Ito was the lot with the =
highest hammer ratio for the sale. Four were sold within estimates. Two mad=
e prices below the low estimate and one work was bought in.=20
Other notable sales were Susan Rothenberg=E2=80=99s Double Bones from 1979 =
that made $190,500 premium over a $30,000 estimate; Neil Jenney=E2=80=99s N=
orth America Divided from 1992 which sold for $431,800 over a $100,00 estim=
ate; and Jaune Quick-to-See Smith whose The Equus Constellation from 1985 s=
old for $342,900 over a $100,000 estimate. Finally, Jean Dubuffet=E2=80=99s=
Chronique from 1980 sold for $1.016 million over a $400,000 estimate with =
a number more Dubuffet works coming to market in Europe this month and next=
=2E=20
Fair Trade
Frieze Los Angeles Finds Its Footing=20
Frieze Los Angeles and the Felix Art Fair at the Hotel Roosevelt were busy =
and active last week in a way that suggests the primary market remains well=
populated with buyers. Felix exhibitors claimed solid sales in the opening=
hours of the fair and the hallways were well trafficked but not to crowded=
=2E The quality of work being shown, es=
pecially in the cabanas, was uniformly=
high even if many of the artists were producing work that might have been =
interchangeable with some of their peers. That=E2=80=99s not an issue for t=
he artists but it is a challenge for the galleries that represent them.=20
Around LA, there were a number of gallery openings and shows that presented=
a similar problem. The artists weren=E2=80=99t interchangeable but many of=
the new gallery spaces seemed to have opted for the same look, exposed woo=
d trusses under curved roofs. Perrotin, James Fuentes and David Zwirner=E2=
=80=99s two new spaces all chose that same architectural strategy. David Zw=
irner himself stopped in to admire the gallery of his new neighbor, James F=
uentes, and express his own interest in the work of Geoffrey Holder on view=
there.=20
Around town, the gallery shows were solid to strong with reports of good sa=
les. One director remarked that he was selling the same number of paintings=
as in the past but at price points in the six figures rather than in the l=
ow seven figures. That may be indicative of the market more broadly. There =
were also a variety of off-site events, including pop-up shows in modernist=
houses in the hills that seemed well-attended.=20
Back at the fair, the usual sale reports reflected deals prepared in advanc=
ed but consummated in the Frieze tents with others that were clearly the re=
sult of fair traffic. That includes the $2 million Richard Serra work on pa=
per sold at Gladstone gallery late on the first day at a price in line with=
auction prices for similar works. Gladstone also sold a Robert Bechtle pai=
nting for $150,000; Craig Starr had a very good Bechtle on his stand with a=
$675,000 asking price.=20
In the end, the takeaway from Frieze LA may be less a bellwether on the mar=
ket=E2=80=99s health and more a sense that Frieze has finally found its foo=
ting in Los Angeles and the city=E2=80=99s art infrastructure continues to =
grow. Although the approach to the Santa Monica airport is a major bottlene=
ck for Frieze, the fair ran well once visitors entered the property this ye=
ar which is a departure from last year=E2=80=99s reports.=20
Notes
Hauser + Wirth: the Swiss gallery that went global [ https://substack.com/r=
edirect/c3fe9040-d6ed-465a-9314-e8c191573ea7?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM=
3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ] (Financial Times): John Gapper wrot=
e a very thoughtful piece on Hauser + Wirth=E2=80=99s forays into hospitali=
ty. Are they a sideline hobby, a canny fusion of culture & travel or just a=
n expression of Wirth=E2=80=99s savvy business sense? Iwan, Manuela and Urs=
ula aren=E2=80=99t saying but Gapper makes a good case for all three. Some =
interesting details are the fact that the Roth Bar & Grill actually comes f=
rom an artist=E2=80=99s installation decades ago and the gallery now owns L=
ondon=E2=80=99s Groucho Club, a SoHo club best known as a writers and artis=
ts haven founded by a group of publishers in the 1980s.
An art sleuth on the hunt for lost masterpieces [ https://substack.com/redi=
rect/ffdb7833-9e0a-4bd1-baea-2b0ee7b453c8?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1=
d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ] (Financial Times): The FT also has a =
mini-profile of Eric Turquin, the French Old Masters appraiser best known f=
or his recent find of a Caravaggio and a small Chardin still life of strawb=
erries that has just been pre-empted by the Louvre. =E2=80=9DTurquin says m=
ore than 10,000 paintings are presented to him annually for appraisal, firs=
t as photographs (he has a look at all of them). Then, about a third are br=
ought in his office for further investigation. For his appraisal, Eric Turq=
uin earns 5 per cent of the sale price, which will soon rise to 6 per cent.=
=E2=80=9D
Christie=E2=80=99s Leans Into Boetti in London
There are fifteen different lots by Alighiero Boetti on offer in this week =
at Phillips, Sotheby=E2=80=99s and Christie=E2=80=99s. Six of the works are=
tapestry pieces. That should not come as a surprise because Boetti=E2=80=
=99s Arrazi have been selling steadily and well over the last three to four=
years. Rising auction prices for tapestry works come after a run-up in sal=
es and record prices in 2021-22 for Boetti=E2=80=99s Mappa works which prev=
iously had been the apex of his price structure. The success of the tapestr=
y works have brought new buyers into the Boetti market broadening his appea=
l beyond collectors of Arte Povera or of Italian Contemporary or conceptual=
art.=20
These new buyers continue to drive up the prices of a broader range of Boet=
ti=E2=80=99s production. Large tapestry works now populate Boetti=E2=80=99s=
top ten prices alongside the Mappa. This season, Christie=E2=80=99s decide=
d to see if they could help that process along by showing 17 works from a s=
ingle owner collection=E2=80=9410 of which will be sold at auction=E2=80=94=
that captures the breadth of Boetti=E2=80=99s ideas.
=E2=80=9COur project,=E2=80=9D says Christie=E2=80=99s Alessandro Diotallev=
i of the exhibition that closed last this week, =E2=80=9Cwas always about s=
howing how wide his production was=E2=80=94and that it is not only about th=
e Mappa.=E2=80=9D
The show and catalogue, which reproduced articles from curators like Mark G=
odfrey, featured all 17 works without estimates. Now the 10 auction lots ar=
e listed in the sale catalogues for March 7th and 9th. , is a pre-cursor to=
Christie=E2=80=99s auction next week where 10 of the works will be sold. T=
he guaranteed lots include two 4 x 4 arazzi, a 5 x 5 25 arazzi, two Biro w=
orks including the the top lot, Mettere al mondo il mondo that gave the exh=
ibition its name, a Tutto and and five other works from other periods of Bo=
etti=E2=80=99s practice.=20
Playing the Field: A New Recruitment Firm from Industry Vets
=E2=80=9CIt's not the easiest economy right now,=E2=80=9D says Megan ODell,=
co-founder with Ines de Seroux of Field Recruitment a new firm focused on =
providing art enterprises with headhunting by two experienced art market op=
erators.=20
She=E2=80=99s referring to the art world economy more than the broader empl=
oyment outlook. The United States is in the midst of a boom even if many pe=
ople don=E2=80=99t seem to be experiencing it that way. But the art world i=
s navigating a slowdown as everyone negotiates the re-entry to a more susta=
inable long-term art economy.=C2=A0
=E2=80=9DThese are people's businesses,=E2=80=9D ODell says, =E2=80=9Cthat =
they've spent years building and developing and fine tuning. It's high stak=
es for everybody. We get that. We get what it's like to make the wrong hire=
=2E We get what it's like to make th=
e right hire=E2=80=94and the right people=
in the right positions can be transformative and synergistic.=E2=80=9D
Seroux and ODell both have a range of experience at auction houses and gall=
eries with a global reach. Seroux worked in the Old Master at Sotheby=E2=80=
=99s and in sales at Gagosian=E2=80=99s London operation; ODell worked at P=
hillips and ran operations for Pace and Skarstedt in London and New York. T=
heir approach to recruiting comes from having hired in both sales roles and=
logistics roles.=20
They also recognize there are non-commercial career paths that eventually i=
ntersect with the gallery world. As the art world feels its way through the=
current slowdown, enterprises will need to find the optimal configuration =
of staff to make the most of the current climate.=C2=A0To date, though, hea=
dhunting has usually been done by persons with little direct experience act=
ually doing the work of buying and selling art.=C2=A0
One of the most important things that ODell and Seroux believe they know th=
at others may not is that gallery programs are very different and success a=
t one firm might not easily translate into success at another. =E2=80=9CWe =
understand those nuances,=E2=80=9D Seroux says. =E2=80=9CWe've lived in tho=
se nuances. We've been insiders for such a long time, we know the skills th=
at are needed for each job.=E2=80=9D
Art enterprises, especially galleries, are also adapting to having become i=
nternational organizations with different management and staffing needs. Hi=
ring has not yet gone global, meaning galleries are not yet hiring an exper=
ienced Hong Kong person for a role in London or Paris or someone from Los A=
ngeles for a role in Seoul. Though Seroux points out there is now a greater=
tendency for galleries to hire across the US with people swapping East or =
West coast roles.=20
It=E2=80=99s not just sales jobs. ODell and Seroux recognize that career pa=
ths in the art world are poorly defined. Art galleries, museums, auction ho=
uses (and a range of logistics and service providers) would all seem to app=
roach in a very different manner the problem of finding employees who are b=
oth adept at their professions but also attuned to the peculiarities of art=
=2E=C2=A0Human resources has become a bottleneck for the industry.=20
Synergy and transformation will be key in the coming months. Many galleries=
are still trying to gauge the market going forward. Frieze Los Angeles mig=
ht give a boost to ambitions but most galleries will be waiting until the e=
nd of the first half of the year to make strategic and staffing plans for t=
he future.=20
ODell and Seroux see that as an opportunity for their own business, for the=
ir clients and for candidates who are looking for the next step forward. Wh=
ich is what ODell says she and Seroux, =E2=80=9Cwant for everyone that we w=
ork with=E2=80=94on both sides.=E2=80=9D
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pQQ0j4sUjLlJ0Q" alt=3D"" width=3D"1" height=3D"1" border=3D"0" style=3D"hei=
ght:1px !important;width:1px !important;border-width:0 !important;margin-to=
p:0 !important;margin-bottom:0 !important;margin-right:0 !important;margin-=
left:0 !important;padding-top:0 !important;padding-bottom:0 !important;padd=
ing-right:0 !important;padding-left:0 !important;"/><div style=3D"display:n=
one;font-size:1px;color:#333333;line-height:1px;max-height:0px;max-width:0p=
x;opacity:0;overflow:hidden;" class=3D"preview">Frieze LA impressions + Sot=
heby's Contemporary Curated results + Boetti in London and a new headhuntin=
g firm for the art market</div><div style=3D"display:none;font-size:1px;col=
or:#333333;line-height:1px;max-height:0px;max-width:0px;opacity:0;overflow:=
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y;</div><table role=3D"presentation" width=3D"100%" border=3D"0" cellspacin=
g=3D"0" cellpadding=3D"0" class=3D"email-body-container"><tr><td></td><td w=
idth=3D"550" class=3D"content"></td><td></td></tr><tr><td></td><td align=3D=
"left" width=3D"550" class=3D"content"><div style=3D"font-size: 16px; line-=
height: 26px; margin: 0 auto; max-width: 550px; overflow-wrap: break-word; =
width: 100%;"><table role=3D"presentation" width=3D"100%" border=3D"0" cell=
spacing=3D"0" cellpadding=3D"0"><tr><td align=3D"right" style=3D"height: 20=
px;"><table role=3D"presentation" width=3D"auto" border=3D"0" cellspacing=
=3D"0" cellpadding=3D"0"><tr><td style=3D"vertical-align: middle;"><span cl=
ass=3D"pencraft pc-reset _reset_13a18_1 tw-font-body tw-text-ssm tw-text-su=
bstack-secondary" style=3D"color: rgb(128, 128, 128) !important; font-famil=
y: SF Pro Text, -apple-system, system-ui, BlinkMacSystemFont, Inter, Segoe =
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margin: 0; text-decoration: unset;"><div class=3D"pencraft pc-reset _align=
-right_13a18_16 _size-12_13a18_40 _reset_13a18_1" style=3D"color: unset; fo=
nt-size: 12px; letter-spacing: 0px; line-height: 16px; list-style: none; ma=
rgin: 0; text-align: right; text-decoration: unset;"><span translated class=
=3D"pencraft pc-reset _reset_13a18_1" style=3D"color: unset; list-style: no=
ne; margin: 0; text-decoration: unset;">Forwarded this email? <a href=3D"ht=
tps://substack.com/redirect/2/eyJlIjoiaHR0cHM6Ly9hcnRlbGxpZ2VuY2Uuc3Vic3RhY=
2suY29tL3N1YnNjcmliZT91dG1fc291cmNlPWVtYWlsJnV0bV9jYW1wYWlnbj1lbWFpbC1zdWJz=
Y3JpYmUmcj0yN2NlcjkmbmV4dD1odHRwcyUzQSUyRiUyRmFydGVsbGlnZW5jZS5zdWJzdGFjay5=
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zEyMTY4MTIxLCJpc3MiOiJwdWItMCIsInN1YiI6ImxpbmstcmVkaXJlY3QifQ.R1Yckat9FvcZO=
tkPSRqGWxdDq5cq22s2t7zh61ugG8E?" class=3D"pencraft pc-reset _decoration-und=
erline_13a18_282 _reset_13a18_1" style=3D"color: unset; list-style: none; m=
argin: 0; text-decoration: unset; text-decoration-line: underline;">Subscri=
be here</a> for more</span></div></span></td></tr></table></td></tr></table=
><table role=3D"presentation" width=3D"auto" class=3D"header graphic-header=
" style=3D"border-spacing: 0; padding: 16px 0 32px;"><tr><td align=3D"cente=
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13ZS1sZWFybmVkLWxhc3Qtd2Vlay0yNDA5P3V0bV9jYW1wYWlnbj1lbWFpbC1oYWxmLXBvc3Qmc=
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0x591.png" class=3D"header-image" style=3D"border: none !important; display=
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ddle; width: 100%;"></a></td></tr></table><div dir=3D"auto" class=3D"post t=
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><h1 class=3D"post-title published" style=3D"-moz-appearance: optimizelegib=
ility; -moz-osx-font-smoothing: antialiased; -webkit-appearance: optimizele=
gibility; -webkit-font-smoothing: antialiased; appearance: optimizelegibili=
ty; color: rgb(64, 64, 64); font-family: 'SF Compact Display', -apple-syste=
m, system-ui, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, san=
s-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-siz=
e: 32px; font-weight: bold; line-height: 36px; margin: 0;"><a href=3D"https=
://substack.com/app-link/post?publication_id=3D2259&post_id=3D142215408&utm=
_source=3Dpost-email-title&utm_campaign=3Demail-post-title&isFreemail=3Dtru=
e&r=3D27cer9&token=3DeyJ1c2VyX2lkIjoxMzMyNjg2NjEsInBvc3RfaWQiOjE0MjIxNTQwOC=
wiaWF0IjoxNzA5NTc2MTIxLCJleHAiOjE3MTIxNjgxMjEsImlzcyI6InB1Yi0yMjU5Iiwic3ViI=
joicG9zdC1yZWFjdGlvbiJ9.DG0-bOf8_IMDVPwDURDVOM5vimK5h3OSotiRPXhakAI" style=
=3D"color: rgb(64, 64, 64); text-decoration: none;">What We Learned last We=
ek (2409)</a></h1><h3 class=3D"subtitle" style=3D"-moz-appearance: optimize=
legibility; -moz-osx-font-smoothing: antialiased; -webkit-appearance: optim=
izelegibility; -webkit-font-smoothing: antialiased; appearance: optimizeleg=
ibility; color: #808080; font-family: 'SF Compact Display', -apple-system, =
system-ui, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-s=
erif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: =
18px; font-weight: normal; line-height: 24px; margin: 4px 0 0; margin-top: =
12px;">Frieze LA impressions + Sotheby's Contemporary Curated results + Boe=
tti in London and a new headhunting firm for the art market</h3><table role=
=3D"presentation" width=3D"100%" border=3D"0" cellspacing=3D"0" cellpadding=
=3D"0" class=3D"post-meta" style=3D"align-items: center; height: 20px; marg=
in: 1em 0;"><tr><td><table role=3D"presentation" width=3D"auto" border=3D"0=
" cellspacing=3D"0" cellpadding=3D"0"><tr><td><table role=3D"presentation" =
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t: 500; letter-spacing: .2px; line-height: 20px; list-style: none; margin: =
0; text-decoration: unset; text-transform: uppercase;"><a style=3D"color: r=
gb(64, 64, 64); font-family: 'SF Compact', -apple-system, system-ui, -apple=
-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-ser=
if, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 11=
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none; margin: 0; text-decoration: none; text-transform: uppercase;" href=3D=
"https://substack.com/@artelligence" class=3D"pencraft pc-reset _color-prim=
ary_13a18_183 _line-height-20_13a18_95 _font-meta_13a18_131 _size-11_13a18_=
35 _weight-medium_13a18_162 _transform-uppercase_13a18_239 _reset_13a18_1 _=
meta_13a18_439">Marion Maneker</a></div></td></tr></table></td></tr><tr><td=
><table role=3D"presentation" width=3D"auto" border=3D"0" cellspacing=3D"0"=
cellpadding=3D"0"><tr><td style=3D"vertical-align: middle;"><div class=3D"=
pencraft pc-reset _color-secondary_13a18_186 _line-height-20_13a18_95 _font=
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-weight: 500; letter-spacing: .2px; line-height: 20px; list-style: none; ma=
rgin: 0; text-decoration: unset; text-transform: uppercase;"><time dateTime=
=3D"2024-03-04T18:15:13.176Z">Mar 4</time></div></td></tr></table></td></tr=
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<table role=3D"presentation" width=3D"38" border=3D"0" cellspacing=3D"0" ce=
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, 64, 64); font-size: 16px; line-height: 26px; margin: 0 0 20px 0; text-ali=
gn: center;"><a class=3D"button primary" href=3D"https://substack.com/redir=
ect/04f575d3-54c9-44e6-97e6-208eba7af5f5?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d=
0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel style=3D"background-color: #653366; =
border: none; border-radius: 8px; box-sizing: border-box; color: #ffffff !i=
mportant; cursor: pointer; display: inline-block; font-family: -apple-syste=
m, system-ui, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, san=
s-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-siz=
e: 14px; font-weight: var(--font-weight-600); height: auto; line-height: 20=
px; margin: 0; opacity: 1; outline: none; padding: 12px 20px; text-align: c=
enter; text-decoration: none !important; white-space: nowrap;"><span style=
=3D"color: #ffffff; text-decoration: none;">Contact Us!</span></a></p><div =
style=3D"font-size: 16px; line-height: 26px;"><hr style=3D"background: #e0e=
0e0; border: none; height: 1px; margin: 32px 0; padding: 0;"></div><h2 clas=
s=3D"header-with-anchor-widget" style=3D"-moz-appearance: optimizelegibilit=
y; -moz-osx-font-smoothing: antialiased; -webkit-appearance: optimizelegibi=
lity; -webkit-font-smoothing: antialiased; appearance: optimizelegibility; =
color: rgb(64, 64, 64); font-family: 'SF Compact Display', -apple-system, s=
ystem-ui, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-se=
rif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 1=
=2E625em; font-weight: bold; line-heigh=
t: 1.16em; margin: 1em 0 0.625em 0; po=
sition: relative;">In This Issue</h2><ol style=3D"margin-top: 0; padding: 0=
;"><li style=3D"margin: 8px 0 0 32px;"><p style=3D"box-sizing: border-box; =
color: rgb(64, 64, 64); font-size: 16px; line-height: 26px; margin: 0; marg=
in-bottom: 0; padding-left: 4px;"><strong>Results:</strong><span> Sotheby&#=
8217;s Contemporary Curated =3D $25.7m</span></p></li><li style=3D"margin: =
8px 0 0 32px;"><p style=3D"box-sizing: border-box; color: rgb(64, 64, 64); =
font-size: 16px; line-height: 26px; margin: 0; margin-bottom: 0; padding-le=
ft: 4px;"><strong>Frieze Los Angeles:</strong><span> Los Angeles—and =
the Frieze fair itself—were active and engaged with reports of solid =
sales</span></p></li><li style=3D"margin: 8px 0 0 32px;"><p style=3D"box-si=
zing: border-box; color: rgb(64, 64, 64); font-size: 16px; line-height: 26p=
x; margin: 0; margin-bottom: 0; padding-left: 4px;"><strong>Notes: </strong=
><span>Hauser’s different approach to global art selling; Eric Turqui=
n’s sleeper success</span></p></li><li style=3D"margin: 8px 0 0 32px;=
"><p style=3D"box-sizing: border-box; color: rgb(64, 64, 64); font-size: 16=
px; line-height: 26px; margin: 0; margin-bottom: 0; padding-left: 4px;"><st=
rong>Christie’s Leans Into Boetti in London:</strong><span> ThereR=
17;s always a bull market somewhere and today it seems to be in Boetti</spa=
n></p></li><li style=3D"margin: 8px 0 0 32px;"><p style=3D"box-sizing: bord=
er-box; color: rgb(64, 64, 64); font-size: 16px; line-height: 26px; margin:=
0; margin-bottom: 0; padding-left: 4px;"><strong>Playing the Field:</stron=
g><span> Industry vets Ines de Seroux and Megan ODell launch Field Recruitm=
ent</span></p></li></ol><div style=3D"font-size: 16px; line-height: 26px;">=
<hr style=3D"background: #e0e0e0; border: none; height: 1px; margin: 32px 0=
; padding: 0;"></div><h2 class=3D"header-with-anchor-widget" style=3D"-moz-=
appearance: optimizelegibility; -moz-osx-font-smoothing: antialiased; -webk=
it-appearance: optimizelegibility; -webkit-font-smoothing: antialiased; app=
earance: optimizelegibility; color: rgb(64, 64, 64); font-family: 'SF Compa=
ct Display', -apple-system, system-ui, BlinkMacSystemFont, 'Segoe UI', Robo=
to, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'S=
egoe UI Symbol'; font-size: 1.625em; font-weight: bold; line-height: 1.16em=
; margin: 1em 0 0.625em 0; position: relative;">Results</h2><p style=3D"col=
or: rgb(64, 64, 64); font-size: 16px; line-height: 26px; margin: 0 0 20px 0=
;"><strong>Sotheby’s Contemporary Curated =3D $25.7m</strong></p><div=
class=3D"captioned-image-container-static" style=3D"font-size: 16px; line-=
height: 26px; margin: 32px auto;"><figure style=3D"margin: 0 auto; width: 1=
00%;"><table class=3D"image-wrapper" width=3D"100%" border=3D"0" cellspacin=
g=3D"0" cellpadding=3D"0" data-component-name=3D"Image2ToDOMStatic" style=
=3D"mso-padding-alt: 1em 0 1.6em;"><tbody><tr><td style=3D"text-align: cent=
er;"></td><td align=3D"left" class=3D"content" width=3D"509" style=3D"text-=
align: center;"><a class=3D"image-link" target=3D"_blank" href=3D"https://s=
ubstack.com/redirect/f0489d9e-1895-41ca-9636-cf848fe11d92?j=3DeyJ1IjoiMjdjZ=
XI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel style=3D"align-item=
s: center; border: none; display: block; flex-direction: column; height: au=
to; margin: 0; padding: 0; position: relative; text-decoration: none; width=
: auto;"><img data-attrs=3D"{"src":"https://substack-post-me=
dia.s3.amazonaws.com/public/images/9739d0e1-397d-4fac-abca-261e3026b939_102=
4x1024.png","srcNoWatermark":null,"fullscreen":nul=
l,"imageSize":null,"height":1024,"width":1024=
,"resizeWidth":509,"bytes":122026,"alt":null,=
"title":null,"type":"image/png","href&qu=
ot;:null,"belowTheFold":true,"topImage":false,"int=
ernalRedirect":null}" alt width=3D"509" height=3D"509" class src=3D"ht=
tps://substackcdn.com/image/fetch/w_509,c_limit,f_auto,q_auto:good,fl_progr=
essive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2F=
images%2F9739d0e1-397d-4fac-abca-261e3026b939_1024x1024.png" style=3D"-ms-i=
nterpolation-mode: bicubic; border: none !important; display: block; height=
: auto; margin: 0 auto; margin-bottom: 0; max-width: 100% !important; verti=
cal-align: middle; width: auto !important;"></a></td><td style=3D"text-alig=
n: center;"></td></tr></tbody></table></figure></div><p style=3D"color: rgb=
(64, 64, 64); font-size: 16px; line-height: 26px; margin: 0 0 20px 0;">Soth=
eby’s Contemporary Curated sale on Friday performed at the same overa=
ll volume as the September edition last year. The hammer ratio was a weak-b=
ut-not-terrible .98 and the sell-through rate was 82% or just about the ind=
ustry average. That sell-through rate was achieved by withdrawing 13 lots w=
ith an estimate value of $3 million. The average estimate value for the wit=
hdrawn lots was just below $250,000 reflecting the continuing weakness in t=
he upper levels of the middle market. Of the 208 lots that sold, 25% were b=
id above the estimate range; 42% of lots were sold within the estimate rang=
e; and 33% had to be sacrificed for compromise prices below the low estimat=
e. The lots bid above the high estimate had an average estimate of just und=
er $50,000. Lots sold within the estimate range had an average estimate of =
$94,000. Works sold below the estimate or that were bought in had average e=
stimate values between $84,000 and 88,000.</p><div class=3D"captioned-image=
-container-static" style=3D"font-size: 16px; line-height: 26px; margin: 32p=
x auto;"><figure style=3D"margin: 0 auto; width: 100%;"><table class=3D"ima=
ge-wrapper" width=3D"100%" border=3D"0" cellspacing=3D"0" cellpadding=3D"0"=
data-component-name=3D"Image2ToDOMStatic" style=3D"mso-padding-alt: 1em 0 =
1.6em;"><tbody><tr><td style=3D"text-align: center;"></td><td align=3D"left=
" class=3D"content" width=3D"1456" style=3D"text-align: center;"><a class=
=3D"image-link" target=3D"_blank" href=3D"https://substack.com/redirect/b48=
4310e-6035-4ed9-aefc-259512cdca4d?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpi=
srMe5iRnigHXx6Fx_g6pp7gWdY" rel style=3D"align-items: center; border: none;=
display: block; flex-direction: column; height: auto; margin: 0; padding: =
0; position: relative; text-decoration: none; width: auto;"><img data-attrs=
=3D"{"src":"https://substack-post-media.s3.amazonaws.com/pub=
lic/images/36ae9b79-0040-4090-ae5b-23351c46af0e_1754x706.png","sr=
cNoWatermark":null,"fullscreen":null,"imageSize":n=
ull,"height":586,"width":1456,"resizeWidth":n=
ull,"bytes":279262,"alt":null,"title":null,&q=
uot;type":"image/png","href":null,"belowTheFo=
ld":true,"topImage":false,"internalRedirect":null}=
" alt width=3D"550" height=3D"221.3598901098901" class=3D"wide-image" src=
=3D"https://substackcdn.com/image/fetch/w_2912,c_limit,f_auto,q_auto:good,f=
l_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpu=
blic%2Fimages%2F36ae9b79-0040-4090-ae5b-23351c46af0e_1754x706.png" style=3D=
"-ms-interpolation-mode: bicubic; border: none !important; display: block; =
height: auto; margin: 0 auto; margin-bottom: 0; max-width: 100% !important;=
vertical-align: middle; width: auto !important;"></a></td><td style=3D"tex=
t-align: center;"></td></tr></tbody></table></figure></div><p style=3D"colo=
r: rgb(64, 64, 64); font-size: 16px; line-height: 26px; margin: 0 0 20px 0;=
"><span>The chart above records the performance of some of the lots we isol=
ated last week in our preview of this sale. Some of the works that performe=
d within the estimates were expected to sell much higher (Adnan, Baber &=
; Reinhardt.) Four works were bid above estimates. The </span><strong>Miyok=
o Ito</strong><span> was the lot with the highest hammer ratio for the sale=
=2E Four were sold within estimates. Tw=
o made prices below the low estimate a=
nd one work was bought in. </span></p><p style=3D"color: rgb(64, 64, 64); f=
ont-size: 16px; line-height: 26px; margin: 0 0 20px 0;"><span>Other notable=
sales were </span><strong>Susan Rothenberg</strong><span>’s </span><=
em>Double Bones</em><span> from 1979 that made $190,500 premium over a $30,=
000 estimate; </span><strong>Neil Jenney</strong><span>’s </span><em>=
North America Divided </em><span>from 1992 which sold for $431,800 over a $=
100,00 estimate; and </span><strong>Jaune Quick-to-See Smith</strong><span>=
whose </span><em>The Equus Constellation</em><span> from 1985 sold for $34=
2,900 over a $100,000 estimate. Finally, </span><strong>Jean Dubuffet</stro=
ng><span>’s </span><em>Chronique</em><span> from 1980 sold for $1.016=
million over a $400,000 estimate with a number more Dubuffet works coming =
to market in Europe this month and next. </span></p><div style=3D"font-size=
: 16px; line-height: 26px;"><hr style=3D"background: #e0e0e0; border: none;=
height: 1px; margin: 32px 0; padding: 0;"></div><h2 class=3D"header-with-a=
nchor-widget" style=3D"-moz-appearance: optimizelegibility; -moz-osx-font-s=
moothing: antialiased; -webkit-appearance: optimizelegibility; -webkit-font=
-smoothing: antialiased; appearance: optimizelegibility; color: rgb(64, 64,=
64); font-family: 'SF Compact Display', -apple-system, system-ui, BlinkMac=
SystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color =
Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 1.625em; font-weigh=
t: bold; line-height: 1.16em; margin: 1em 0 0.625em 0; position: relative;"=
>Fair Trade</h2><h4 class=3D"header-with-anchor-widget" style=3D"-moz-appea=
rance: optimizelegibility; -moz-osx-font-smoothing: antialiased; -webkit-ap=
pearance: optimizelegibility; -webkit-font-smoothing: antialiased; appearan=
ce: optimizelegibility; color: rgb(64, 64, 64); font-family: 'SF Compact Di=
splay', -apple-system, system-ui, BlinkMacSystemFont, 'Segoe UI', Roboto, H=
elvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe =
UI Symbol'; font-size: 1.125em; font-weight: bold; line-height: 1.16em; mar=
gin: 1em 0 0.625em 0; position: relative;"><strong>Frieze Los Angeles Finds=
Its Footing</strong><span> </span></h4><div class=3D"captioned-image-conta=
iner-static" style=3D"font-size: 16px; line-height: 26px; margin: 32px auto=
;"><figure style=3D"margin: 0 auto; width: 100%;"><table class=3D"image-wra=
pper" width=3D"100%" border=3D"0" cellspacing=3D"0" cellpadding=3D"0" data-=
component-name=3D"Image2ToDOMStatic" style=3D"mso-padding-alt: 1em 0 1.6em;=
"><tbody><tr><td style=3D"text-align: center;"></td><td align=3D"left" clas=
s=3D"content" width=3D"1186" style=3D"text-align: center;"><a class=3D"imag=
e-link" target=3D"_blank" href=3D"https://substack.com/redirect/d372875f-97=
d1-42f6-93fb-d6deac7d3983?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRn=
igHXx6Fx_g6pp7gWdY" rel style=3D"align-items: center; border: none; display=
: block; flex-direction: column; height: auto; margin: 0; padding: 0; posit=
ion: relative; text-decoration: none; width: auto;"><img data-attrs=3D"{&qu=
ot;src":"https://substack-post-media.s3.amazonaws.com/public/imag=
es/1c855ccb-8f37-4a63-a5e4-a9b7301b04d1_1186x1200.jpeg","srcNoWat=
ermark":null,"fullscreen":null,"imageSize":null,&q=
uot;height":1200,"width":1186,"resizeWidth":null,&=
quot;bytes":413108,"alt":null,"title":null,"t=
ype":"image/jpeg","href":null,"belowTheFold&q=
uot;:true,"topImage":false,"internalRedirect":null}" al=
t width=3D"550" height=3D"556.4924114671163" class=3D"wide-image" src=3D"ht=
tps://substackcdn.com/image/fetch/w_2372,c_limit,f_auto,q_auto:good,fl_prog=
ressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2=
Fimages%2F1c855ccb-8f37-4a63-a5e4-a9b7301b04d1_1186x1200.jpeg" style=3D"-ms=
-interpolation-mode: bicubic; border: none !important; display: block; heig=
ht: auto; margin: 0 auto; margin-bottom: 0; max-width: 100% !important; ver=
tical-align: middle; width: auto !important;"></a></td><td style=3D"text-al=
ign: center;"></td></tr></tbody></table><figcaption class=3D"image-caption"=
style=3D"box-sizing: content-box; color: #808080; font-size: 14px; font-we=
ight: 400; letter-spacing: -.15px; line-height: 20px; margin-top: 8px; padd=
ing-left: 15%; padding-right: 15%; text-align: center; width: 70%;">Richard=
Serra, Pamuk (2009) sold at Frieze LA by Gladstone Gallery for $2m</figcap=
tion></figure></div><p style=3D"color: rgb(64, 64, 64); font-size: 16px; li=
ne-height: 26px; margin: 0 0 20px 0;">Frieze Los Angeles and the Felix Art =
Fair at the Hotel Roosevelt were busy and active last week in a way that su=
ggests the primary market remains well populated with buyers. Felix exhibit=
ors claimed solid sales in the opening hours of the fair and the hallways w=
ere well trafficked but not to crowded. The quality of work being shown, es=
pecially in the cabanas, was uniformly high even if many of the artists wer=
e producing work that might have been interchangeable with some of their pe=
ers. That’s not an issue for the artists but it is a challenge for th=
e galleries that represent them. </p><p style=3D"color: rgb(64, 64, 64); fo=
nt-size: 16px; line-height: 26px; margin: 0 0 20px 0;">Around LA, there wer=
e a number of gallery openings and shows that presented a similar problem. =
The artists weren’t interchangeable but many of the new gallery space=
s seemed to have opted for the same look, exposed wood trusses under curved=
roofs. Perrotin, James Fuentes and David Zwirner’s two new spaces al=
l chose that same architectural strategy. David Zwirner himself stopped in =
to admire the gallery of his new neighbor, James Fuentes, and express his o=
wn interest in the work of Geoffrey Holder on view there. </p><p style=3D"c=
olor: rgb(64, 64, 64); font-size: 16px; line-height: 26px; margin: 0 0 20px=
0;">Around town, the gallery shows were solid to strong with reports of go=
od sales. One director remarked that he was selling the same number of pain=
tings as in the past but at price points in the six figures rather than in =
the low seven figures. That may be indicative of the market more broadly. T=
here were also a variety of off-site events, including pop-up shows in mode=
rnist houses in the hills that seemed well-attended. </p><p style=3D"color:=
rgb(64, 64, 64); font-size: 16px; line-height: 26px; margin: 0 0 20px 0;">=
Back at the fair, the usual sale reports reflected deals prepared in advanc=
ed but consummated in the Frieze tents with others that were clearly the re=
sult of fair traffic. That includes the $2 million Richard Serra work on pa=
per sold at Gladstone gallery late on the first day at a price in line with=
auction prices for similar works. Gladstone also sold a Robert Bechtle pai=
nting for $150,000; Craig Starr had a very good Bechtle on his stand with a=
$675,000 asking price. </p><p style=3D"color: rgb(64, 64, 64); font-size: =
16px; line-height: 26px; margin: 0 0 20px 0;">In the end, the takeaway from=
Frieze LA may be less a bellwether on the market’s health and more a=
sense that Frieze has finally found its footing in Los Angeles and the cit=
y’s art infrastructure continues to grow. Although the approach to th=
e Santa Monica airport is a major bottleneck for Frieze, the fair ran well =
once visitors entered the property this year which is a departure from last=
year’s reports. </p><div style=3D"font-size: 16px; line-height: 26px=
;"><hr style=3D"background: #e0e0e0; border: none; height: 1px; margin: 32p=
x 0; padding: 0;"></div><h2 class=3D"header-with-anchor-widget" style=3D"-m=
oz-appearance: optimizelegibility; -moz-osx-font-smoothing: antialiased; -w=
ebkit-appearance: optimizelegibility; -webkit-font-smoothing: antialiased; =
appearance: optimizelegibility; color: rgb(64, 64, 64); font-family: 'SF Co=
mpact Display', -apple-system, system-ui, BlinkMacSystemFont, 'Segoe UI', R=
oboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji',=
'Segoe UI Symbol'; font-size: 1.625em; font-weight: bold; line-height: 1.1=
6em; margin: 1em 0 0.625em 0; position: relative;">Notes</h2><ol style=3D"m=
argin-top: 0; padding: 0;"><li style=3D"margin: 8px 0 0 32px;"><p style=3D"=
box-sizing: border-box; color: rgb(64, 64, 64); font-size: 16px; line-heigh=
t: 26px; margin: 0; margin-bottom: 0; padding-left: 4px;"><strong><a href=
=3D"https://substack.com/redirect/c3fe9040-d6ed-465a-9314-e8c191573ea7?j=3D=
eyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel style=
=3D"color: rgb(64, 64, 64); text-decoration: underline;">Hauser + Wirth: th=
e Swiss gallery that went global</a><span> </span></strong><em>(Financial T=
imes)</em><strong>: </strong><span>John Gapper wrote a very thoughtful piec=
e on Hauser + Wirth’s forays into hospitality. Are they a sideline ho=
bby, a canny fusion of culture & travel or just an expression of Wirth&=
#8217;s savvy business sense? Iwan, Manuela and Ursula aren’t saying =
but Gapper makes a good case for all three. Some interesting details are th=
e fact that the Roth Bar & Grill actually comes from an artist’s =
installation decades ago and the gallery now owns London’s Groucho Cl=
ub, a SoHo club best known as a writers and artists haven founded by a grou=
p of publishers in the 1980s.</span></p></li><li style=3D"margin: 8px 0 0 3=
2px;"><p style=3D"box-sizing: border-box; color: rgb(64, 64, 64); font-size=
: 16px; line-height: 26px; margin: 0; margin-bottom: 0; padding-left: 4px;"=
><strong><a href=3D"https://substack.com/redirect/ffdb7833-9e0a-4bd1-baea-2=
b0ee7b453c8?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7=
gWdY" rel style=3D"color: rgb(64, 64, 64); text-decoration: underline;">An =
art sleuth on the hunt for lost masterpieces</a></strong><span> </span><em>=
(Financial Times):</em><span> The FT also has a mini-profile of Eric Turqu=
in, the French Old Masters appraiser best known for his recent find of a Ca=
ravaggio and a small Chardin still life of strawberries that has just been =
pre-empted by the Louvre. ”Turquin says more than 10,000 paintings ar=
e presented to him annually for appraisal, first as photographs (he has a l=
ook at all of them). Then, about a third are brought in his office for furt=
her investigation. For his appraisal, Eric Turquin earns 5 per cent of the =
sale price, which will soon rise to 6 per cent.”</span></p></li></ol>=
<div style=3D"font-size: 16px; line-height: 26px;"><hr style=3D"background:=
#e0e0e0; border: none; height: 1px; margin: 32px 0; padding: 0;"></div><h2=
class=3D"header-with-anchor-widget" style=3D"-moz-appearance: optimizelegi=
bility; -moz-osx-font-smoothing: antialiased; -webkit-appearance: optimizel=
egibility; -webkit-font-smoothing: antialiased; appearance: optimizelegibil=
ity; color: rgb(64, 64, 64); font-family: 'SF Compact Display', -apple-syst=
em, system-ui, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sa=
ns-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-si=
ze: 1.625em; font-weight: bold; line-height: 1.16em; margin: 1em 0 0.625em =
0; position: relative;">Christie’s Leans Into Boetti in London</h2><d=
iv class=3D"captioned-image-container-static" style=3D"font-size: 16px; lin=
e-height: 26px; margin: 32px auto;"><figure style=3D"margin: 0 auto; width:=
100%;"><table class=3D"image-wrapper" width=3D"100%" border=3D"0" cellspac=
ing=3D"0" cellpadding=3D"0" data-component-name=3D"Image2ToDOMStatic" style=
=3D"mso-padding-alt: 1em 0 1.6em;"><tbody><tr><td style=3D"text-align: cent=
er;"></td><td align=3D"left" class=3D"content" width=3D"1456" style=3D"text=
-align: center;"><a class=3D"image-link" target=3D"_blank" href=3D"https://=
substack.com/redirect/6cef698b-0efa-4541-a15d-93d809305add?j=3DeyJ1IjoiMjdj=
ZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel style=3D"align-ite=
ms: center; border: none; display: block; flex-direction: column; height: a=
uto; margin: 0; padding: 0; position: relative; text-decoration: none; widt=
h: auto;"><img data-attrs=3D"{"src":"https://substack-post-m=
edia.s3.amazonaws.com/public/images/6a6d0a45-2834-477a-afb1-0647068b2cce_40=
00x1173.jpeg","srcNoWatermark":null,"fullscreen":n=
ull,"imageSize":null,"height":427,"width":145=
6,"resizeWidth":null,"bytes":1726039,"alt":nu=
ll,"title":null,"type":"image/jpeg","hre=
f":null,"belowTheFold":true,"topImage":false,"=
;internalRedirect":null}" alt width=3D"550" height=3D"161.298076923076=
93" class=3D"wide-image" src=3D"https://substackcdn.com/image/fetch/w_2912,=
c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post=
-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6a6d0a45-2834-477a-afb1-0647068=
b2cce_4000x1173.jpeg" style=3D"-ms-interpolation-mode: bicubic; border: non=
e !important; display: block; height: auto; margin: 0 auto; margin-bottom: =
0; max-width: 100% !important; vertical-align: middle; width: auto !importa=
nt;"></a></td><td style=3D"text-align: center;"></td></tr></tbody></table><=
figcaption class=3D"image-caption" style=3D"box-sizing: content-box; color:=
#808080; font-size: 14px; font-weight: 400; letter-spacing: -.15px; line-h=
eight: 20px; margin-top: 8px; padding-left: 15%; padding-right: 15%; text-a=
lign: center; width: 70%;"><span>Alighiero Boetti, </span><em>Mettere al mo=
ndo il mondo</em><span> (1974), est. £650k</span></figcaption></figure=
></div><p style=3D"color: rgb(64, 64, 64); font-size: 16px; line-height: 26=
px; margin: 0 0 20px 0;"><span>There are fifteen different lots by Alighier=
o Boetti on offer in this week at Phillips, Sotheby’s and Christie=
217;s. Six of the works are tapestry pieces. That should not come as a surp=
rise because Boetti’s </span><em>Arrazi</em><span> have been selling =
steadily and well over the last three to four years. Rising auction prices =
for tapestry works come after a run-up in sales and record prices in 2021-2=
2 for Boetti’s </span><em>Mappa</em><span> works which previously had=
been the apex of his price structure. The success of the tapestry works ha=
ve brought new buyers into the Boetti market broadening his appeal beyond c=
ollectors of Arte Povera or of Italian Contemporary or conceptual art. </sp=
an></p><p style=3D"color: rgb(64, 64, 64); font-size: 16px; line-height: 26=
px; margin: 0 0 20px 0;"><span>These new buyers continue to drive up the pr=
ices of a broader range of Boetti’s production. Large tapestry works =
now populate Boetti’s top ten prices alongside the </span><em>Mappa</=
em><span>. This season, Christie’s decided to see if they could help =
that process along by showing 17 works from a single owner collection—=
;10 of which will be sold at auction—that captures the breadth of Boe=
tti’s ideas.</span></p><p style=3D"color: rgb(64, 64, 64); font-size:=
16px; line-height: 26px; margin: 0 0 20px 0;"><span>“Our project,=
221; says Christie’s Alessandro Diotallevi of the exhibition that clo=
sed last this week, “was always about showing how wide his production=
was—and that it is not only about the </span><em>Mappa</em><span>.&#=
8221;</span></p><p style=3D"color: rgb(64, 64, 64); font-size: 16px; line-h=
eight: 26px; margin: 0 0 20px 0;"><span>The show and catalogue, which repro=
duced articles from curators like Mark Godfrey, featured all 17 works witho=
ut estimates. Now the 10 auction lots are listed in the sale catalogues for=
March 7th and 9th. , is a pre-cursor to Christie’s auction next week=
where 10 of the works will be sold. The guaranteed lots include two 4 x 4 =
</span><em>arazzi, </em><span> a 5 x 5 25 </span><em>arazzi, </em><span>two=
Biro works including the the top lot, </span><em>Mettere al mondo il mondo=
</em><span> that gave the exhibition its name, a </span><em>Tutto</em><span=
> and and five other works from other periods of Boetti’s practice. <=
/span></p><div style=3D"font-size: 16px; line-height: 26px;"><hr style=3D"b=
ackground: #e0e0e0; border: none; height: 1px; margin: 32px 0; padding: 0;"=
></div><h4 class=3D"header-with-anchor-widget" style=3D"-moz-appearance: op=
timizelegibility; -moz-osx-font-smoothing: antialiased; -webkit-appearance:=
optimizelegibility; -webkit-font-smoothing: antialiased; appearance: optim=
izelegibility; color: rgb(64, 64, 64); font-family: 'SF Compact Display', -=
apple-system, system-ui, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica,=
Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol=
'; font-size: 1.125em; font-weight: bold; line-height: 1.16em; margin: 1em =
0 0.625em 0; position: relative;">Playing the Field: A New Recruitment Firm=
from Industry Vets</h4><div class=3D"captioned-image-container-static" sty=
le=3D"font-size: 16px; line-height: 26px; margin: 32px auto;"><figure style=
=3D"margin: 0 auto; width: 100%;"><table class=3D"image-wrapper" width=3D"1=
00%" border=3D"0" cellspacing=3D"0" cellpadding=3D"0" data-component-name=
=3D"Image2ToDOMStatic" style=3D"mso-padding-alt: 1em 0 1.6em;"><tbody><tr><=
td style=3D"text-align: center;"></td><td align=3D"left" class=3D"content" =
width=3D"1456" style=3D"text-align: center;"><a class=3D"image-link" target=
=3D"_blank" href=3D"https://substack.com/redirect/9fa54417-d95f-4c40-b274-5=
88d8109c017?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7=
gWdY" rel style=3D"align-items: center; border: none; display: block; flex-=
direction: column; height: auto; margin: 0; padding: 0; position: relative;=
text-decoration: none; width: auto;"><img data-attrs=3D"{"src":&=
quot;https://substack-post-media.s3.amazonaws.com/public/images/883d043e-c5=
59-413b-8cb9-69bd979ff292_4036x4129.jpeg","srcNoWatermark":n=
ull,"fullscreen":null,"imageSize":null,"height&quo=
t;:1490,"width":1456,"resizeWidth":null,"bytes&quo=
t;:2726469,"alt":null,"title":null,"type":&qu=
ot;image/jpeg","href":null,"belowTheFold":true,&qu=
ot;topImage":false,"internalRedirect":null}" alt width=3D"55=
0" height=3D"562.8434065934066" class=3D"wide-image" src=3D"https://substac=
kcdn.com/image/fetch/w_2912,c_limit,f_auto,q_auto:good,fl_progressive:steep=
/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F883=
d043e-c559-413b-8cb9-69bd979ff292_4036x4129.jpeg" style=3D"-ms-interpolatio=
n-mode: bicubic; border: none !important; display: block; height: auto; mar=
gin: 0 auto; margin-bottom: 0; max-width: 100% !important; vertical-align: =
middle; width: auto !important;"></a></td><td style=3D"text-align: center;"=
></td></tr></tbody></table></figure></div><p style=3D"color: rgb(64, 64, 64=
); font-size: 16px; line-height: 26px; margin: 0 0 20px 0;">“It's not=
the easiest economy right now,” says Megan ODell, co-founder with In=
es de Seroux of Field Recruitment a new firm focused on providing art enter=
prises with headhunting by two experienced art market operators. </p><p sty=
le=3D"color: rgb(64, 64, 64); font-size: 16px; line-height: 26px; margin: 0=
0 20px 0;">She’s referring to the art world economy more than the br=
oader employment outlook. The United States is in the midst of a boom even =
if many people don’t seem to be experiencing it that way. But the art=
world is navigating a slowdown as everyone negotiates the re-entry to a mo=
re sustainable long-term art economy. </p><p style=3D"color: rgb(64, 6=
4, 64); font-size: 16px; line-height: 26px; margin: 0 0 20px 0;">”The=
se are people's businesses,” ODell says, “that they've spent ye=
ars building and developing and fine tuning. It's high stakes for everybody=
=2E We get that. We get what it's like=20=
to make the wrong hire. We get what it=
's like to make the right hire—and the right people in the right posi=
tions can be transformative and synergistic.”</p><p style=3D"color: r=
gb(64, 64, 64); font-size: 16px; line-height: 26px; margin: 0 0 20px 0;">Se=
roux and ODell both have a range of experience at auction houses and galler=
ies with a global reach. Seroux worked in the Old Master at Sotheby’s=
and in sales at Gagosian’s London operation; ODell worked at Phillip=
s and ran operations for Pace and Skarstedt in London and New York. Their a=
pproach to recruiting comes from having hired in both sales roles and logis=
tics roles. </p><p style=3D"color: rgb(64, 64, 64); font-size: 16px; line-h=
eight: 26px; margin: 0 0 20px 0;">They also recognize there are non-commerc=
ial career paths that eventually intersect with the gallery world. As the a=
rt world feels its way through the current slowdown, enterprises will need =
to find the optimal configuration of staff to make the most of the current =
climate. To date, though, headhunting has usually been done by persons=
with little direct experience actually doing the work of buying and sellin=
g art. </p><p style=3D"color: rgb(64, 64, 64); font-size: 16px; line-h=
eight: 26px; margin: 0 0 20px 0;">One of the most important things that ODe=
ll and Seroux believe they know that others may not is that gallery program=
s are very different and success at one firm might not easily translate int=
o success at another. “We understand those nuances,” Seroux say=
s. “We've lived in those nuances. We've been insiders for such a long=
time, we know the skills that are needed for each job.”</p><p style=
=3D"color: rgb(64, 64, 64); font-size: 16px; line-height: 26px; margin: 0 0=
20px 0;">Art enterprises, especially galleries, are also adapting to havin=
g become international organizations with different management and staffing=
needs. Hiring has not yet gone global, meaning galleries are not yet hirin=
g an experienced Hong Kong person for a role in London or Paris or someone =
from Los Angeles for a role in Seoul. Though Seroux points out there is now=
a greater tendency for galleries to hire across the US with people swappin=
g East or West coast roles. </p><p style=3D"color: rgb(64, 64, 64); font-si=
ze: 16px; line-height: 26px; margin: 0 0 20px 0;">It’s not just sales=
jobs. ODell and Seroux recognize that career paths in the art world are po=
orly defined. Art galleries, museums, auction houses (and a range of logist=
ics and service providers) would all seem to approach in a very different m=
anner the problem of finding employees who are both adept at their professi=
ons but also attuned to the peculiarities of art. Human resources has =
become a bottleneck for the industry. </p><p style=3D"color: rgb(64, 64, 64=
); font-size: 16px; line-height: 26px; margin: 0 0 20px 0;">Synergy and tra=
nsformation will be key in the coming months. Many galleries are still tryi=
ng to gauge the market going forward. Frieze Los Angeles might give a boost=
to ambitions but most galleries will be waiting until the end of the first=
half of the year to make strategic and staffing plans for the future. </p>=
<p style=3D"color: rgb(64, 64, 64); font-size: 16px; line-height: 26px; mar=
gin: 0 0 20px 0; margin-bottom: 0;">ODell and Seroux see that as an opportu=
nity for their own business, for their clients and for candidates who are l=
ooking for the next step forward. Which is what ODell says she and Seroux, =
“want for everyone that we work with—on both sides.”</p><=
/div></div><div class=3D"container-border" style=3D"border-top: 1px solid #=
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