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Subject: Art Basel Opens in Hong Kong
From: Artelligence <artelligence@substack.com>
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View this post on the web at https://artelligence.substack.com/p/art-basel-=
opens-in-hong-kong
Welcome to Artelligence
If you have questions, feel free to contact me using the button below.=20
In This Issue
Lot Watch: Heffel has Torben Kristiansen=E2=80=99s collection in May
Results: Christie=E2=80=99s Modern British & Irish =3D $37m
Art Basel Opens in Hong Kong: Tempered expectations met
David Velasco Has More to Say: The former editor explains his choices in Ai=
rmail
Lot Watch
Heffel Has $3m Torben V. Kristiansen Collection of Canadian Masters
Heffel announced it will auction the collection of Torben Kristiansen, the =
Danish-born pilot turned Canadian art dealer who died last year after 60 ye=
ars in the business. Kristiansen=E2=80=99s holdings include significant wor=
ks from the Canadian artists with strong international appeal like Emily Ca=
rr, Lawren Harris, Thom Thomson and Jean-Paul Riopelle. The significant wor=
ks by those four artists have a combined low estimate of $4.5 million Canad=
ian dollars which is $3.3 million USD. Except for the Riopelle and one of t=
he Harris works, the other four top lots are intimate works like Thom Thoms=
on=E2=80=99s Fall Woods, Algonquin Park (above) with a low estimate of $500=
,000 Canadian or Lawren Harris=E2=80=99s Above Moraine Lake estimated at $4=
00,000 (below). Harris was the subject of a show, The Idea of the North, or=
ganized with the help of collector Steve Martin, that toured the US in 2016=
=2E
Results
Christie=E2=80=99s Modern British & Irish Art =3D $37m
While the Contemporary art market searches for a bottom, other markets cont=
inue to gain momentum. Unfortunately much smaller than the market for recen=
tly made works, the Modern British and Irish art market had a strong sale i=
n London at Christie=E2=80=99s. The combined Evening and Day sales made =C2=
=A328 million with an industry average sell-through rate of 83% and a stron=
g hammer ratio of 1.27.
The bidding breakdown: Nearly half of the lots, 46%, were bid above the est=
imate range; 32% of the lots were sold within the estimates; and 22% of lot=
s were sold but at prices below the estimates. Although not as overwhelming=
ly positive as last week=E2=80=99s South Asian Modern art sales in New York=
, these are still very strong numbers.
What the big money bought: Among the top 25 lots by price were more than on=
e work by Barbara Hepworth, Henry Moore, L. S. Lowry and Barry Flanagan. Lo=
wry=E2=80=99s Sunday Afternoon made =C2=A36.2m ($8m); Henry Moore=E2=80=99s=
1930 Head sold for more than five times the estimate at =C2=A35.1m ($6.5m)=
with fees; and Barbara Hepworth=E2=80=99s Sculpture with Colour sold for =
=C2=A33.5m ($4.5m.) Pauline Boty=E2=80=99s rare Pop art work, Epitaph to So=
mething=E2=80=99s Gotta Give from 1962 made double the estimate at =C2=A31.=
3m ($1.6m.) A new auction record was set for another rare auction sight, an=
R.B. Kitaj painting: Clerk=E2=80=99s Dream from 1972 sold for =C2=A3529,20=
0 ($677,376.)
What the bidders chased: The Kitaj was the most aggressively bid upon lot. =
Most of the other lots with very aggressive bidding remained in the five fi=
gures even after the run-up in bids and adding the premium. So the trend of=
buyers chasing low-value lots continues. Henry Moore=E2=80=99s Head was th=
e highest value of the dynamic lots. Works by Bryan Wynter, Euan Uglow, Cha=
rles Sargeant Jagger, Roy de Maistre, Paul Feiler, Pauline Boty, Emily Youn=
g and William Scott were the other artists who saw their works bid above th=
e estimate range and into the six figures.
Art Basel Hong Kong sales report
Hong Kong=E2=80=99s appeal to the international art market is as a gateway =
to mainland Chinese buyers who, by all reports, streamed into the city this=
year in even greater numbers than last. A year ago, Hong Kong was riding a=
wave of pent-up demand held back by pandemic closures. But, according to C=
lare McAndrew, sales slowed later in the year in Asia once that demand was =
satisfied.=C2=A0
First day reports from Hong Kong offer mixed signals. Some galleries, like =
David Zwirner, are loudly claiming better opening day sales than in 2023. I=
n well-rehearsed statement to the South China Morning Post=E2=80=99s excell=
ent reporter Enid Tsui [ https://substack.com/redirect/32b4f9e2-df35-465c-9=
3ef-12da82385acd?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_=
g6pp7gWdY ], Zwirner called the fair =E2=80=9Ca vast improvement on last ye=
ar=E2=80=9D before adding what might be considered all-purpose Art Basel bo=
ilerplate,=E2=80=9Cit is especially exciting that the client mix is truly i=
nternational, including many museum directors and curators this year.=E2=80=
=9D
As a counterpoint, Tsui reports that Brendan Dugan=E2=80=99s Karma admitted=
to =E2=80=9Cfewer confirmed sales on VIP day than in 2023.=E2=80=9D
Gagosian=E2=80=99s Nick Simunovic continued the theme of singling out museu=
m buyers and describing sales as =E2=80=9Csteady and efficient=E2=80=9D whi=
ch could easily be read as nice but not earth shattering. Gagosian doesn=E2=
=80=99t provide asking prices but the artists named were Carol Bove, Hao Li=
ang, Tetsuya Ishida, Sarah Sze, Nathaniel Mary Quinn, Mary Weatherford, and=
Stanley Whitney=E2=80=9D
Gladstone gallery had sales including a 10-foot x 10-foot Alex Katz paintin=
g from 2021 with an asking price of $1.3 million; Rirkrit Tiravanija diptyc=
h priced at $200,000; Ugo Rondinone=E2=80=99s sculpture yellow pink monk ma=
de this year priced at $90,000, along with =E2=80=9Cmultiple=E2=80=9D paint=
ings priced at $70,000; an untitled Amy Sillman work on paper priced at $75=
,000; and Annicka Yi=E2=80=99s Late Clasical XVIII from 2022 priced at $110=
,00.=C2=A0
Marc Payot at Hauser & Wirth said in a release that "The energy [=E2=80=A6]=
exceeded our expectations this year and is a reflection of the highly enga=
ged and sophisticated audience for art in the wider region and our sustaine=
d engagement here.=E2=80=9D He cited sales for Philip Guston's'The Desire' =
(1978) at $8.5 million and Willem de Kooning=E2=80=99s, 'Untitled III' (198=
6) for $9 million. Neither work was included in Hauser=E2=80=99s initial li=
st of sales. It would be rare for a seven-figure painting to be sold to a w=
alk-in buyer. So it is likely that both the Guston and de Kooning received =
approval from their buyers some time during the first day of the vernissage=
=2E Hauser also announced sales o=
f Mark Bradford=E2=80=99s =E2=80=98May the L=
ord be the first one in the car=E2=80=A6 and the last out.=E2=80=99 (2023) =
for $3.5 million; a Maria Lassnig painting from 1995 for $650,000; a Charle=
s Gaines work from his Numbers and Trees series; a work from Rashid Johnson=
=E2=80=99s =E2=80=98God Painting=E2=80=99 series made in 2023 for $750,000;=
a major painting by Pat Steir from 2022 for $850,000 and Avery Singer=E2=
=80=99s =E2=80=98Poppers=E2=80=99 (2024) for $800,000."
Angelica Villa from ARTnews reported [ https://substack.com/redirect/b3206e=
8f-873e-42aa-8c44-fc41cb11882b?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrM=
e5iRnigHXx6Fx_g6pp7gWdY ] on these sales from Pace and David Kordansky: =E2=
=80=9C=E2=80=8B=E2=80=8BPace [=E2=80=A6] sold 15 works by artists across it=
s roster, including ones by Adam Pendleton, Kylie Manning, and Maysha Moham=
edi. [=E2=80=A6] The Pendleton, a 2023 painting titled Black Dada (D), brou=
ght in the highest price of the sold works, going for $275,000. [=E2=80=A6]=
David Kordansky reported selling a total of 17 works on the first day. Fiv=
e of them, works by Joel Mesler to Shara Hughes, went for prices north of $=
100,000.=E2=80=9D
David Velasco Calls In from the Wilderness
We should talk about what=E2=80=99s going on with David Velasco, the former=
editor in chief of Artforum who lost his job in the emotionally and politi=
cally super-heated aftermath of Hamas=E2=80=99s horrific terror attack on I=
sraeli citizens and Israel=E2=80=99s brutal response in Gaza. Over the week=
end, he revealed in [ https://substack.com/redirect/d85928b5-94d8-4f31-85f=
f-8e6c385e22f6?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6=
pp7gWdY ]Airmail [ https://substack.com/redirect/d85928b5-94d8-4f31-85ff-8e=
6c385e22f6?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7g=
WdY ] [ https://substack.com/redirect/d85928b5-94d8-4f31-85ff-8e6c385e22f6=
?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ]that =
he is currently =E2=80=9Cliving out of a suitcase.=E2=80=9D Velasco says he=
can no longer afford his apartment, has few job prospects, was living =E2=
=80=9Cpaycheck to paycheck,=E2=80=9D even before he lost his job, and =E2=
=80=9Cdidn=E2=80=99t have a savings account.=E2=80=9D=20
That=E2=80=99s tough for anyone who once had a fair bit of status in the ar=
t world and a decently paid job. Still, I=E2=80=99m sure there are a lot of=
people who won=E2=80=99t have sympathy for him. After all, even by his own=
account, he seems to have misjudged the situation surrounding the publicat=
ion of an open letter from artists and others pleading for the safety of Pa=
lestinians. By his own admission, he courted controversy with the letter bu=
t got a lot more than he bargained for. Velasco seems to have believed that=
it was essential to make a statement even though the essence of an editor=
=E2=80=99s role is to anticipate the way in which editorial decisions will =
land. Five months later, Airmail [ https://substack.com/redirect/d85928b5-9=
4d8-4f31-85ff-8e6c385e22f6?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iR=
nigHXx6Fx_g6pp7gWdY ] still finds him pinioned by his own choices [ https:/=
/substack.com/redirect/d85928b5-94d8-4f31-85ff-8e6c385e22f6?j=3DeyJ1IjoiMjd=
jZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ].=C2=A0
The peculiar nature of Artforum, its recent history and the ambivalence of =
the art world=E2=80=99s audience, explains more about how Velasco got where=
he is than any question of free speech. There=E2=80=99s no denying that th=
e hot-house identity politics of much art writing over the last two decades=
has helped fuel a market for artists whose collectors might not actually s=
hare all of their political views. The Trump years have only further expose=
d that many wealthy collectors may not have been fully aligned with the pol=
itical views of the artists they collect.=C2=A0
But that=E2=80=99s not really what got Velasco fired. Again, just going by =
his own account to [ https://substack.com/redirect/d85928b5-94d8-4f31-85ff=
-8e6c385e22f6?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6p=
p7gWdY ]Airmail [ https://substack.com/redirect/d85928b5-94d8-4f31-85ff-8e6=
c385e22f6?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gW=
dY ], it=E2=80=99s pretty clear that Velasco didn=E2=80=99t=E2=80=94and sti=
ll doesn=E2=80=99t=E2=80=94understand a basic principle of journalism. He w=
asn=E2=80=99t fired because of his political views. He was fired because he=
didn=E2=80=99t give his publisher the opportunity to discuss his decision =
to sign the open letter before he put it on the magazine=E2=80=99s website.=
=C2=A0
Signing the letter transformed the act of publishing it from journalism int=
o advocacy, a distinction Velasco still doesn=E2=80=99t accept. He could ha=
ve published the open letter as a news item with the appropriate caveats an=
d distance. Indeed, that=E2=80=99s what was quickly done to help diffuse th=
e controversy. There was only one more step required for Velasco to bring d=
own the temperature and save his job. It wasn=E2=80=99t really even very ha=
rd. All he had to do was say he didn=E2=80=99t understand the need to consu=
lt his peers on the business side and that it wouldn=E2=80=99t happen again=
=2E=C2=A0
Here is how Louis Cheslaw relates Velasco=E2=80=99s understanding [ https:/=
/substack.com/redirect/d85928b5-94d8-4f31-85ff-8e6c385e22f6?j=3DeyJ1IjoiMjd=
jZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ] of his meeting with =
Penske Media=E2=80=99s owner, Jay Penske, =E2=80=9CWhen they eventually met=
, Penske asked him for =E2=80=98some kind of mea culpa,=E2=80=99 which he w=
as not prepared to give. By the end of the day, he had been fired and shut =
out of his accounts.=E2=80=9D=C2=A0
Some kind of mea culpa doesn=E2=80=99t seem like a high price to pay for a =
decision that Velasco =E2=80=9Cfelt [=E2=80=A6] was done with integrity and=
the right spirit=E2=80=9D but that had also obviously backfired.=C2=A0
Since changes were made to the original post after the outraged response, w=
hy was it too hard to admit that maybe he got it wrong and, in the future, =
he would to inform his publisher of these decisions before he made them pub=
lic? Or did mea culpa mean something different to him?
Because Velasco refused to walk back any of his decisions, it created a per=
fect storm for the business. Any gallery that continued to advertise in Art=
forum would potentially offend someone on either side. The safest stance wa=
s to stop advertising. Some did it vocally. Many others did it quietly.=C2=
=A0
There was another reason for galleries to pull ads, too. In the five years =
since Velasco became editor, galleries had continued to build their own dir=
ect relationship with the art audience through email lists and Instagram ac=
counts. While the third-party validation of reviews, feature stories, criti=
cal appraisals=E2=80=94and even ads=E2=80=94remains useful to galleries, th=
at is no longer the only route to maintaining contact with a large and dive=
rse audience. For years, dealers kept advertising in Artforum less for its =
effectiveness and more because their artists might have felt slighted. But =
now some of the artists were calling for their gallery=E2=80=99s ads to be =
removed.
There was also the Knight Landesman factor. Landesman had built Artforum in=
to a thick catalog of gallery ads over a 35-year career that ended in a #me=
too moment when nine women sued him for sexual harassment and retaliation. =
It was Landesman=E2=80=99s relentlessness as a seller that kept the art ind=
ustry advertising in Artforum long after it had abandoned other publication=
s.=C2=A0
Inadvertently, Landesman had also played a role in putting Velasco in his c=
urrent bind. Put simply, because the editorial content had little effect on=
ad sales, Artforum gave free reign to its editors and, it would appear, ve=
ry little oversight. Velasco didn=E2=80=99t tell his publishers he was goin=
g to sign and publish a provocative letter because no one had ever asked hi=
m to do that before. Cheslaw writes that =E2=80=9CVelasco [=E2=80=A6] claim=
s there wasn=E2=80=99t any precedent of running editorial initiatives up th=
e corporate chain.=E2=80=9D The implication in Airmail is that the corporat=
e chain refers to Penske Media but it appears that the lack of oversight al=
so applied to Artforum when it was independently owned.=C2=A0
One of those owners was Knight Landesman. Six years to the month before Vel=
asco lost his job, Landesman was accused of sexual harassment and retaliati=
on by nine women. The accusations caused the previous editor in chief, Mich=
elle Kuo, to resign because she could no longer publicly represent the orga=
nization.=C2=A0
The suit against Landesman would eventually get dismissed due to the statut=
e of limitations and the issue of standing on some of the charges; but an a=
ppeals court did eventually let the claims of one former employee=E2=80=94t=
hat Artforum failed to protect her from Landesman=E2=80=94 proceed against =
the magazine. Artforum eventually settled.=C2=A0
The revelations shocked and perturbed the art industry=E2=80=94but not Vela=
sco. Or, at least, not enough for him to share Kuo=E2=80=99s inability to r=
epresent the organization where he had already worked for more than a dozen=
years. Editor in chief of Artforum, he told Airmail, was his dream job.=C2=
=A0
But you can also imagine how, in the aftermath of the Landesman revelations=
, that the editorial side would want to insulate itself from the business s=
ide even more than it already had been. That might have made it easier for =
Velasco to move ahead in the wake of Landesman=E2=80=99s departure but it h=
ad the unexpected effect of leaving him isolated from his colleagues when h=
e most needed their counsel.=C2=A0
If Velasco had consulted with Artforum=E2=80=99s publisher before posting t=
he open letter on his website with his own signature and the signature of s=
ome of his colleagues and they had advised him against it, would he have ch=
anged Velasco=E2=80=99s decision? From what we=E2=80=99re shown in Airmail,=
the answer is probably not. And if he=E2=80=99s comfortable with that, the=
re=E2=80=99s nothing more to say.=C2=A0
Artelligence is moving to a new platform soon. Add your name to our list so=
you can come along.
Unsubscribe https://substack.com/redirect/2/eyJlIjoiaHR0cHM6Ly9hcnRlbGxpZ2V=
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@media screen and (max-width: 650px) {
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@media (max-width: 650px) {
.typography .markup .tweet,
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padding: 12px;
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@media (max-width: 650px) {
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@media (max-width: 650px) {
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@media (max-width: 650px) {
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max-height: 180px;
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@media (max-width: 650px) {
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margin: 0 0 12px 0;
max-width: 100%;
width: auto;
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@media (max-width: 600px) {
.typography .markup .install-substack-app-embed .install-substack-app-emb=
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.typography.editor .markup .install-substack-app-embed .install-substack-=
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margin-top: 16px;
width: 100%;
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}
@media screen and (min-width: 481px) {
.share-button-container {
height: 38px;
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}
@media screen and (min-width: 481px) {
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height: 38px;
line-height: 38px;
padding-right: 10px;
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}
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display: block;
margin: 0;
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border-left: none;
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@media screen and (max-width: 480px) {
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padding-left: 0;
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}
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display: none !important;
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}
@media screen and (min-width: 541px) {
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padding: 36px;
height: 680px;
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}
@media screen and (min-width: 541px) {
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position: absolute;
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margin: 0px;
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@media screen and (max-width: 840px) {
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display: none;
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}
@media screen and (min-width: 768px) {
.post {
padding: 32px 0 0 0;
}
}
@media screen and (max-width: 650px) {
.post .post-header .post-label {
margin-top: 8px;
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}
@media screen and (max-width: 650px) {
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margin-top: 6px;
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@media screen and (max-width: 650px) {
.post .footer-facepile-container {
height: 64px;
padding: 0 16px;
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align-items: center;
justify-content: flex-start;
width: 100%;
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}
@media screen and (max-width: 650px) {
.post .post-footer.use-separators {
justify-content: center;
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}
@media screen and (max-width: 650px) {
.post .post-footer.next-prev {
height: 64px;
justify-content: space-between;
box-sizing: border-box;
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@media screen and (max-width: 650px) {
.post-contributor-footer .post-contributor-bio-table {
display: block;
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display: flex;
flex-direction: row;
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display: block;
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width: auto;
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margin: 20px 0;
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}
@media screen and (max-width: 650px) {
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display: none;
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}
@media screen and (max-width: 370px) {
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height: 36px !important;
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display: none;
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margin-right: 0;
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}
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font-size: 12px;
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}
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bottom: 20px;
right: 20px;
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}
@media all and (-ms-high-contrast: none), (-ms-high-contrast: active) {
body .markup table.image-wrapper img,
body .markup table.kindle-wrapper img {
max-width: 550px;
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}
@media screen and (max-width: 650px) {
body .markup div.youtube-inner div.youtube-screen,
body .markup div.vimeo-inner div.youtube-screen {
display: none !important;
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@media screen and (max-width: 370px) {
body .markup div.tiktok-wrap {
width: calc(95vw - 32px);
height: calc((95vw - 32px - 2px) / 0.485714);
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}
@media screen and (max-width: 650px) {
body .markup div.embedded-publication-wrap .embedded-publication.show-sub=
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padding: 24px;
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}
@media screen and (max-width: 650px) {
body .markup div.subscription-widget-wrap .subscription-widget.show-subsc=
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body .markup div.captioned-button-wrap .subscription-widget.show-subscrib=
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padding: 24px;
}
}
@media screen and (max-width: 650px) {
body .markup div.subscription-widget-wrap .subscription-widget.show-subsc=
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body .markup div.captioned-button-wrap .subscription-widget.show-subscrib=
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padding: 10px 12px;
min-width: 110px;
}
}
@media (max-width: 650px) {
body .markup .tweet {
padding: 12px;
}
}
@media (max-width: 650px) {
body .markup .tweet .tweet-text {
font-size: 14px;
line-height: 20px;
}
}
@media (max-width: 650px) {
body .markup .tweet .tweet-photos-container.two,
body .markup .tweet .tweet-photos-container.three,
body .markup .tweet .tweet-photos-container.four {
height: 200px;
}
}
@media (max-width: 650px) {
body .markup .tweet a.expanded-link .expanded-link-img {
max-height: 180px;
}
}
@media (max-width: 650px) {
body .markup .tweet a.expanded-link .expanded-link-description {
display: none;
}
}
@media screen and (max-width: 650px) {
body .markup .apple-podcast-container {
width: unset;
}
}
@media (max-width: 420px) {
body .markup .install-substack-app-embed img.install-substack-app-embed-i=
mg {
margin: 0 auto 16px auto;
}
}
@media screen and (min-width: 420px) and (max-width: 600px) {
body .markup .install-substack-app-embed .install-substack-app-embed-text=
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max-width: calc(100% - 100px);
width: initial;
}
}
@media (max-width: 420px) {
body .markup .install-substack-app-embed .install-substack-app-embed-text=
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margin: 0 0 12px 0;
max-width: 100%;
width: auto;
text-align: center;
}
}
@media (max-width: 600px) {
body .markup .install-substack-app-embed .install-substack-app-embed-link=
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margin-top: 16px;
width: 100%;
}
}
@media screen and (min-width: 500px) {
body .header a.logo {
width: 42px;
height: 42px;
border-radius: 12px;
}
}
@media screen and (max-width: 420px) {
body .subscription-receipt table:first-of-type .subscription-amount .subs=
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width: 72px !important;
}
}
@media screen and (min-width: 481px) {
body .share-button-container {
height: auto;
}
}
@media screen and (max-width: 480px) {
body .share-button-container .separator {
display: block !important;
margin: 0 !important;
height: 8px !important;
border-left: none !important;
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}
@media screen and (max-width: 650px) {
.digest .item .post-meta-item.audience {
display: none;
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@media screen and (min-width: 500px) {
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width: 42px;
height: 42px;
border-radius: 8px;
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@media screen and (max-width: 650px) {
.comments-page .container .comment-list .collapsed-reply {
margin-left: calc(10 + 32px - 24px);
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@media screen and (max-width: 650px) {
.comment > .comment-list {
padding-left: 24px;
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@media screen and (max-width: 650px) {
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padding: 24px 0;
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}
@media (max-width: 650px) {
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line-height: 24px;
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}
@media screen and (max-width: 650px) {
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line-height: 24px;
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}
@media screen and (min-width: 541px) {
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padding-left: 12px;
padding-right: 12px;
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}
@media screen and (max-width: 650px) {
.subscribe-widget form.form .sideBySideWrap button.rightButton {
padding: 10px 12px;
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@media screen and (min-width: 541px) {
.pub-icon:hover .logo-hover,
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display: block;
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}
@media screen and (max-width: 650px) {
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width: 100%;
padding: 16px;
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display: none;
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width: 100%;
justify-content: center;
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padding: 0;
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}
@media screen and (max-width: 768px) {
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padding: 0;
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}
@media screen and (max-width: 768px) {
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padding: 0;
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@media only screen and (max-width: 650px) {
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display: none;
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display: none;
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min-width: 500px;
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}
@media screen and (max-width: 650px) {
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border-left-width: 16px;
border-right-width: 16px;
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}
@media screen and (max-width: 650px) {
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top: -54px;
}
}
@media screen and (max-width: 650px) {
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}
@media screen and (max-width: 650px) {
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top: -54px;
}
}
@media (min-width: 250px) {
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padding: 32px;
}
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display: flex;
}
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display: block;
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}
@media (min-width: 300px) {
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display: block;
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display: block;
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@media (min-width: 350px) {
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display: block;
}
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margin-top: 16px;
}
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padding-top: 15%;
width: 15%;
display: block;
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display: block;
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display: block;
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}
@media (min-width: 350px) {
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padding-top: 25%;
width: 25%;
display: block;
}
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display: flex;
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display: block;
}
}
@media (min-width: 400px) {
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padding-top: 40%;
width: 40%;
}
}
@media (max-width: 400px) {
.audio-player-wrapper-fancy .audio-player .btn-group {
margin-top: 12px;
}
.audio-player-wrapper-fancy .audio-player .btn-group .button {
font-size: 13px;
padding: 6px 12px;
height: auto;
margin-top: 10px;
}
}
@media (min-width: 600px) {
.audio-player-wrapper-fancy .audio-player .audio-player-hero-image-contai=
ner {
padding-top: 55%;
width: 55%;
}
}
@media (max-width: 650px) {
.poll-editor-modal {
min-width: calc(100% - 20px);
}
}
@media (max-width: 750px) {
.poll-embed .poll-anchor-target .poll-anchor-copy-button {
left: 8px;
top: 45px;
}
}
@media screen and (min-width: 541px) {
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width: 552px;
padding: 26px 24px;
}
}
@media screen and (max-width: 650px) {
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modal-content > .container {
padding: 40px 0;
}
}
@media screen and (max-width: 650px) {
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margin-right: -20px;
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}
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important;margin-bottom:0 !important;margin-right:0 !important;margin-left:=
0 !important;padding-top:0 !important;padding-bottom:0 !important;padding-r=
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ont-size:1px;color:#333333;line-height:1px;max-height:0px;max-width:0px;opa=
city:0;overflow:hidden;" class=3D"preview">ABHK sales report + Heffel to of=
fer Canadian art dealer's collection + Christie's strong Modern British &am=
p; Irish results + Former Artforum editor David Velasco has more to say</di=
v><div style=3D"display:none;font-size:1px;color:#333333;line-height:1px;ma=
x-height:0px;max-width:0px;opacity:0;overflow:hidden;" class=3D"preview">&#=
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z-osx-font-smoothing: antialiased; -webkit-appearance: optimizelegibility; =
-webkit-font-smoothing: antialiased; appearance: optimizelegibility; color:=
rgb(54, 55, 55); font-family: 'SF Pro Display', -apple-system-headline, sy=
stem-ui, -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, =
Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'=
; font-size: 32px; font-weight: bold; line-height: 36px; margin: 0;"><a hre=
f=3D"https://substack.com/app-link/post?publication_id=3D2259&post_id=3D142=
982232&utm_source=3Dpost-email-title&utm_campaign=3Demail-post-title&isFree=
mail=3Dtrue&r=3D27cer9&token=3DeyJ1c2VyX2lkIjoxMzMyNjg2NjEsInBvc3RfaWQiOjE0=
Mjk4MjIzMiwiaWF0IjoxNzExNTM3NzEyLCJleHAiOjE3MTQxMjk3MTIsImlzcyI6InB1Yi0yMjU=
5Iiwic3ViIjoicG9zdC1yZWFjdGlvbiJ9.hWRoCqsucp1zgYA1u1jP231KT-06NoG8n4LcsACLB=
LU" style=3D"color: rgb(54, 55, 55); text-decoration: none;">Art Basel Open=
s in Hong Kong</a></h1><h3 class=3D"subtitle" style=3D"-moz-appearance: opt=
imizelegibility; -moz-osx-font-smoothing: antialiased; -webkit-appearance: =
optimizelegibility; -webkit-font-smoothing: antialiased; appearance: optimi=
zelegibility; color: #808080; font-family: 'SF Pro Display', -apple-system-=
headline, system-ui, -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto,=
Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Sego=
e UI Symbol'; font-size: 18px; font-weight: normal; line-height: 24px; marg=
in: 4px 0 0; margin-top: 12px;">ABHK sales report + Heffel to offer Canadia=
n art dealer's collection + Christie's strong Modern British & Irish re=
sults + Former Artforum editor David Velasco has more to say</h3><table rol=
e=3D"presentation" width=3D"100%" border=3D"0" cellspacing=3D"0" cellpaddin=
g=3D"0" class=3D"post-meta" style=3D"align-items: center; height: 20px; mar=
gin: 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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yle=3D"vertical-align: middle;"><div class=3D"pencraft pc-reset _color-prim=
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0; text-decoration: unset; text-transform: uppercase;"><a style=3D"color: =
rgb(54, 55, 55); font-family: 'SF Compact', -apple-system, system-ui, -appl=
e-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-se=
rif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 1=
1px; font-weight: 500; letter-spacing: .2px; line-height: 20px; list-style:=
none; margin: 0; text-decoration: none; text-transform: uppercase;" href=
=3D"https://substack.com/@artelligence" class=3D"pencraft pc-reset _color-p=
rimary_13a18_183 _line-height-20_13a18_95 _font-meta_13a18_131 _size-11_13a=
18_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-meta_13a18_131 _size-11_13a18_35 _weight-medium_13a18_162 _transform-u=
ppercase_13a18_239 _reset_13a18_1 _meta_13a18_439" style=3D"color: rgb(119,=
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tem, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, =
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font-weight: 500; letter-spacing: .2px; line-height: 20px; list-style: none=
; margin: 0; text-decoration: unset; text-transform: uppercase;"><time date=
Time=3D"2024-03-27T11:07:58.016Z">Mar 27</time></div></td></tr></table></td=
></tr></table></td></tr></table><table role=3D"presentation" width=3D"100%"=
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tyle=3D"font-size: 0px; line-height: 0;"> </td></tr><tr><td><table rol=
e=3D"presentation" width=3D"100%" border=3D"0" cellspacing=3D"0" cellpaddin=
g=3D"0"><tr><td><table role=3D"presentation" width=3D"auto" border=3D"0" ce=
llspacing=3D"0" cellpadding=3D"0"><tr><td style=3D"vertical-align: middle;"=
><table role=3D"presentation" width=3D"38" border=3D"0" cellspacing=3D"0" c=
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le></td><td width=3D"8" style=3D"min-width: 8px"></td><td style=3D"vertical=
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or: rgb(119, 119, 119); display: inline-block; font-family: system-ui, -app=
le-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-s=
erif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: =
12px; font-weight: 500; line-height: 1; min-width: 38px; padding: 9px 0; te=
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l-icon-button"><img src=3D"https://substackcdn.com/image/fetch/w_36,c_scale=
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t; max-width: 18px; vertical-align: middle;" alt class=3D"icon"></a></td></=
tr></table></td><td width=3D"8" style=3D"min-width: 8px"></td><td style=3D"=
vertical-align: middle;"><table role=3D"presentation" width=3D"38" border=
=3D"0" cellspacing=3D"0" cellpadding=3D"0"><tr><td align=3D"center"><a href=
=3D"https://substack.com/redirect/2/eyJlIjoiaHR0cHM6Ly9vcGVuLnN1YnN0YWNrLmN=
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utton"><img src=3D"https://substackcdn.com/image/fetch/w_36,c_scale,f_png,q=
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eWidth%3D2" width=3D"18" height=3D"18" style=3D"border: none !important; ma=
x-width: 18px; vertical-align: middle;" alt class=3D"icon"></a></td></tr></=
table></td></tr></table></td><td align=3D"right"><table role=3D"presentatio=
n" width=3D"auto" border=3D"0" cellspacing=3D"0" cellpadding=3D"0"><tr><td =
style=3D"vertical-align: middle;"><table role=3D"presentation" width=3D"aut=
o" border=3D"0" cellspacing=3D"0" cellpadding=3D"0"><tr><td align=3D"center=
"><a href=3D"https://open.substack.com/pub/artelligence/p/art-basel-opens-i=
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a></td></tr></table></td></tr></table></td></tr></table></td></tr><tr heigh=
t=3D"16"><td height=3D"16" style=3D"font-size: 0px; line-height: 0;"> =
</td></tr></table></div></div><div dir=3D"auto" class=3D"post typography" s=
tyle=3D"font-size: 16px; line-height: 26px; padding: 16px 0 0 0;"><div dir=
=3D"auto" class=3D"body markup" style=3D"font-family: 'SF Pro Display', -ap=
ple-system, system-ui, BlinkMacSystemFont, 'Inter', 'Segoe UI', Roboto, Hel=
vetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI=
Symbol'; font-size: 16px; font-weight: 400; line-height: 26px; margin-bott=
om: 16px; text-align: initial; width: 100%; word-break: break-word;"><h2 cl=
ass=3D"header-with-anchor-widget" style=3D"-moz-appearance: optimizelegibil=
ity; -moz-osx-font-smoothing: antialiased; -webkit-appearance: optimizelegi=
bility; -webkit-font-smoothing: antialiased; appearance: optimizelegibility=
; color: rgb(54, 55, 55); font-family: 'SF Pro Display', -apple-system-head=
line, system-ui, -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Hel=
vetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI=
Symbol'; font-size: 1.625em; font-weight: bold; line-height: 1.16em; margi=
n: 1em 0 0.625em 0; margin-top: 0; position: relative;">Welcome to Artellig=
ence</h2><p style=3D"color: rgb(54, 55, 55); font-size: 16px; line-height: =
26px; margin: 0 0 20px 0;">If you have questions, feel free to contact me u=
sing the button below. </p><p class=3D"button-wrapper" data-attrs=3D"{"=
;url":"Mailto:maneker@artmarketmonitor.com","text"=
:"Contact Us!","action":null,"class":null}" d=
ata-component-name=3D"ButtonCreateButton" style=3D"color: rgb(54, 55, 55); =
font-size: 16px; line-height: 26px; margin: 0 0 20px 0; text-align: center;=
"><a class=3D"button primary" href=3D"https://substack.com/redirect/0fb798a=
2-f7c6-42a2-9b32-6432a2f6c666?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe=
5iRnigHXx6Fx_g6pp7gWdY" rel style=3D"background-color: #653366; border: non=
e; border-radius: 8px; box-sizing: border-box; color: #ffffff !important; c=
ursor: pointer; display: inline-block; font-family: system-ui, -apple-syste=
m, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'A=
pple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 14px; fo=
nt-weight: 600; height: auto; line-height: 20px; margin: 0; opacity: 1; out=
line: none; padding: 12px 20px; text-align: center; text-decoration: none !=
important; white-space: nowrap;"><span style=3D"color: #ffffff; text-decora=
tion: none;">Contact Us!</span></a></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-anchor-widget"=
style=3D"-moz-appearance: optimizelegibility; -moz-osx-font-smoothing: ant=
ialiased; -webkit-appearance: optimizelegibility; -webkit-font-smoothing: a=
ntialiased; appearance: optimizelegibility; color: rgb(54, 55, 55); font-fa=
mily: 'SF Pro Display', -apple-system-headline, system-ui, -apple-system, B=
linkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple=
Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 1.625em; fon=
t-weight: bold; line-height: 1.16em; margin: 1em 0 0.625em 0; position: rel=
ative;">In This Issue</h2><ol style=3D"margin-top: 0; padding: 0;"><li styl=
e=3D"margin: 8px 0 0 32px;"><p style=3D"box-sizing: border-box; color: rgb(=
54, 55, 55); font-size: 16px; line-height: 26px; margin: 0; margin-bottom: =
0; padding-left: 4px;"><strong>Lot Watch: </strong><span>Heffel has Torben =
Kristiansen’s collection in May</span></p></li><li style=3D"margin: 8=
px 0 0 32px;"><p style=3D"box-sizing: border-box; color: rgb(54, 55, 55); f=
ont-size: 16px; line-height: 26px; margin: 0; margin-bottom: 0; padding-lef=
t: 4px;"><strong>Results:</strong><span> Christie’s Modern British &a=
mp; Irish =3D $37m</span></p></li><li style=3D"margin: 8px 0 0 32px;"><p st=
yle=3D"box-sizing: border-box; color: rgb(54, 55, 55); font-size: 16px; lin=
e-height: 26px; margin: 0; margin-bottom: 0; padding-left: 4px;"><strong>Ar=
t Basel Opens in Hong Kong: </strong><span>Tempered expectations met</span>=
</p></li><li style=3D"margin: 8px 0 0 32px;"><p style=3D"box-sizing: border=
-box; color: rgb(54, 55, 55); font-size: 16px; line-height: 26px; margin: 0=
; margin-bottom: 0; padding-left: 4px;"><strong>David Velasco Has More to S=
ay: </strong><span>The former editor explains his choices in Airmail</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-appearanc=
e: optimizelegibility; -moz-osx-font-smoothing: antialiased; -webkit-appear=
ance: optimizelegibility; -webkit-font-smoothing: antialiased; appearance: =
optimizelegibility; color: rgb(54, 55, 55); font-family: 'SF Pro Display', =
-apple-system-headline, system-ui, -apple-system, BlinkMacSystemFont, 'Sego=
e UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI=
Emoji', 'Segoe UI Symbol'; font-size: 1.625em; font-weight: bold; line-hei=
ght: 1.16em; margin: 1em 0 0.625em 0; position: relative;"><strong>Lot Watc=
h</strong></h2><h4 class=3D"header-with-anchor-widget" style=3D"-moz-appear=
ance: optimizelegibility; -moz-osx-font-smoothing: antialiased; -webkit-app=
earance: optimizelegibility; -webkit-font-smoothing: antialiased; appearanc=
e: optimizelegibility; color: rgb(54, 55, 55); font-family: 'SF Pro Display=
', -apple-system-headline, system-ui, -apple-system, BlinkMacSystemFont, 'S=
egoe 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;"><strong>Heffe=
l Has $3m Torben V. Kristiansen Collection of Canadian Masters</strong></h4=
><div class=3D"captioned-image-container-static" style=3D"font-size: 16px; =
line-height: 26px; margin: 32px auto;"><figure style=3D"margin: 0 auto; wid=
th: 100%;"><table class=3D"image-wrapper" width=3D"100%" border=3D"0" cells=
pacing=3D"0" cellpadding=3D"0" data-component-name=3D"Image2ToDOMStatic" st=
yle=3D"mso-padding-alt: 1em 0 1.6em;"><tbody><tr><td style=3D"text-align: c=
enter;"></td><td align=3D"left" class=3D"content" width=3D"1456" style=3D"t=
ext-align: center;"><a class=3D"image-link" target=3D"_blank" href=3D"https=
://substack.com/redirect/27a2431f-7d6e-43a5-9e75-ddfda49c2ea5?j=3DeyJ1IjoiM=
jdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_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; w=
idth: auto;"><img data-attrs=3D"{"src":"https://substack-pos=
t-media.s3.amazonaws.com/public/images/db797d03-700a-412a-937e-a8321de2a9e6=
_1600x1438.jpeg","srcNoWatermark":null,"fullscreen"=
;:null,"imageSize":null,"height":1309,"width"=
:1456,"resizeWidth":null,"bytes":null,"alt":n=
ull,"title":null,"type":null,"href":null,&quo=
t;belowTheFold":true,"topImage":false,"internalRedirect=
":null}" alt width=3D"550" height=3D"494.47115384615387" 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.amazona=
ws.com%2Fpublic%2Fimages%2Fdb797d03-700a-412a-937e-a8321de2a9e6_1600x1438.j=
peg" style=3D"-ms-interpolation-mode: bicubic; border: none !important; dis=
play: block; height: auto; margin: 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(54, 55, 55); font-size: 16px; line-height: 26px; margin=
: 0 0 20px 0;"><span>Heffel announced it will auction the collection of Tor=
ben Kristiansen, the Danish-born pilot turned Canadian art dealer who died =
last year after 60 years in the business. Kristiansen’s holdings incl=
ude significant works from the Canadian artists with strong international a=
ppeal like Emily Carr, Lawren Harris, Thom Thomson and Jean-Paul Riopelle. =
The significant works by those four artists have a combined low estimate of=
$4.5 million Canadian dollars which is $3.3 million USD. Except for the Ri=
opelle and one of the Harris works, the other four top lots are intimate wo=
rks like Thom Thomson’s </span><em>Fall Woods, Algonquin Park</em><sp=
an> (above) with a low estimate of $500,000 Canadian or Lawren Harris’=
;s </span><em>Above Moraine Lake</em><span> estimated at $400,000 (below). =
Harris was the subject of a show, The Idea of the North, organized with the=
help of collector Steve Martin, that toured the US in 2016.</span></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"1456" style=3D"text=
-align: center;"><a class=3D"image-link" target=3D"_blank" href=3D"https://=
substack.com/redirect/fece0c1a-7d99-4ab5-b84a-f50c919e0524?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/d8ff2f0f-96e7-4d97-9f92-0450a8d502f2_16=
00x1279.jpeg","srcNoWatermark":null,"fullscreen":n=
ull,"imageSize":null,"height":1164,"width":14=
56,"resizeWidth":null,"bytes":null,"alt":null=
,"title":null,"type":null,"href":null,"b=
elowTheFold":true,"topImage":false,"internalRedirect&qu=
ot;:null}" alt width=3D"550" height=3D"439.6978021978022" class=3D"wide-ima=
ge" 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.c=
om%2Fpublic%2Fimages%2Fd8ff2f0f-96e7-4d97-9f92-0450a8d502f2_1600x1279.jpeg"=
style=3D"-ms-interpolation-mode: bicubic; border: none !important; display=
: block; height: auto; margin: 0 auto; margin-bottom: 0; max-width: 100% !i=
mportant; vertical-align: middle; width: auto !important;"></a></td><td sty=
le=3D"text-align: center;"></td></tr></tbody></table></figure></div><div st=
yle=3D"font-size: 16px; line-height: 26px;"><hr style=3D"background: #e0e0e=
0; 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; -webkit-appearance: optimizelegibil=
ity; -webkit-font-smoothing: antialiased; appearance: optimizelegibility; c=
olor: rgb(54, 55, 55); font-family: 'SF Pro Display', -apple-system-headlin=
e, system-ui, -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvet=
ica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Sy=
mbol'; font-size: 1.625em; font-weight: bold; line-height: 1.16em; margin: =
1em 0 0.625em 0; position: relative;"><strong>Results</strong></h2><h4 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(54, 55, 55); font-family: 'SF Pro Display', -apple-system-headli=
ne, system-ui, -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helve=
tica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI S=
ymbol'; font-size: 1.125em; font-weight: bold; line-height: 1.16em; margin:=
1em 0 0.625em 0; position: relative;"><strong>Christie’s Modern Brit=
ish & Irish Art =3D $37m</strong></h4><div class=3D"captioned-image-con=
tainer-static" style=3D"font-size: 16px; line-height: 26px; margin: 32px au=
to;"><figure style=3D"margin: 0 auto; width: 100%;"><table class=3D"image-w=
rapper" width=3D"100%" border=3D"0" cellspacing=3D"0" cellpadding=3D"0" dat=
a-component-name=3D"Image2ToDOMStatic" style=3D"mso-padding-alt: 1em 0 1.6e=
m;"><tbody><tr><td style=3D"text-align: center;"></td><td align=3D"left" cl=
ass=3D"content" width=3D"407" style=3D"text-align: center;"><a class=3D"ima=
ge-link" target=3D"_blank" href=3D"https://substack.com/redirect/3bada34a-2=
46b-44f5-b1c0-10512e295161?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iR=
nigHXx6Fx_g6pp7gWdY" rel style=3D"align-items: center; border: none; displa=
y: block; flex-direction: column; height: auto; margin: 0; padding: 0; posi=
tion: relative; text-decoration: none; width: auto;"><img data-attrs=3D"{&q=
uot;src":"https://substack-post-media.s3.amazonaws.com/public/ima=
ges/2a3174d1-7d35-4eba-bd5d-8fd734691c06_1024x1024.png","srcNoWat=
ermark":null,"fullscreen":null,"imageSize":null,&q=
uot;height":1024,"width":1024,"resizeWidth":407,&q=
uot;bytes":null,"alt":null,"title":null,"type=
":null,"href":null,"belowTheFold":true,"topIm=
age":false,"internalRedirect":null}" alt width=3D"407" heigh=
t=3D"407" class src=3D"https://substackcdn.com/image/fetch/w_407,c_limit,f_=
auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.=
amazonaws.com%2Fpublic%2Fimages%2F2a3174d1-7d35-4eba-bd5d-8fd734691c06_1024=
x1024.png" style=3D"-ms-interpolation-mode: bicubic; border: none !importan=
t; display: block; height: auto; margin: 0 auto; margin-bottom: 0; max-widt=
h: 100% !important; vertical-align: middle; width: auto !important;"></a></=
td><td style=3D"text-align: center;"></td></tr></tbody></table></figure></d=
iv><p style=3D"color: rgb(54, 55, 55); font-size: 16px; line-height: 26px; =
margin: 0 0 20px 0;">While the Contemporary art market searches for a botto=
m, other markets continue to gain momentum. Unfortunately much smaller than=
the market for recently made works, the Modern British and Irish art marke=
t had a strong sale in London at Christie’s. The combined Evening and=
Day sales made £28 million with an industry average sell-through rate=
of 83% and a strong hammer ratio of 1.27.</p><p style=3D"color: rgb(54, 55=
, 55); font-size: 16px; line-height: 26px; margin: 0 0 20px 0;"><strong>The=
bidding breakdown: </strong><span>Nearly half of the lots, 46%, were bid a=
bove the estimate range; 32% of the lots were sold within the estimates; an=
d 22% of lots were sold but at prices below the estimates. Although not as =
overwhelmingly positive as last week’s South Asian Modern art sales i=
n New York, these are still very strong numbers.</span></p><p style=3D"colo=
r: rgb(54, 55, 55); font-size: 16px; line-height: 26px; margin: 0 0 20px 0;=
"><strong>What the big money bought:</strong><span> Among the top 25 lots b=
y price were more than one work by </span><strong>Barbara Hepworth</strong>=
<span>, </span><strong>Henry Moore</strong><span>, </span><strong>L. S. Low=
ry</strong><span> and </span><strong>Barry Flanagan</strong><span>. Lowry&#=
8217;s </span><em>Sunday Afternoon</em><span> made £6.2m ($8m); Henry =
Moore’s 1930 </span><em>Head</em><span> sold for more than five times=
the estimate at £5.1m ($6.5m) with fees; and Barbara Hepworth’s=
</span><em>Sculpture with Colour</em><span> sold for £3.5m ($4.5m.) <=
/span><strong>Pauline Boty</strong><span>’s rare Pop art work, </span=
><em>Epitaph to Something’s Gotta Give </em><span>from 1962 made doub=
le the estimate at £1.3m ($1.6m.) A new auction record was set for ano=
ther rare auction sight, an </span><strong>R.B. Kitaj</strong><span> painti=
ng: </span><em>Clerk’s Dream</em><span> from 1972 sold for £529,=
200 ($677,376.)</span></p><p style=3D"color: rgb(54, 55, 55); font-size: 16=
px; line-height: 26px; margin: 0 0 20px 0;"><strong>What the bidders chased=
: </strong><span>The Kitaj was the most aggressively bid upon lot. Most of =
the other lots with very aggressive bidding remained in the five figures ev=
en after the run-up in bids and adding the premium. So the trend of buyers =
chasing low-value lots continues. Henry Moore’s </span><em>Head</em><=
span> was the highest value of the dynamic lots. Works by </span><strong>Br=
yan Wynter</strong><span>, </span><strong>Euan Uglow</strong><span>, </span=
><strong>Charles Sargeant Jagger</strong><span>, </span><strong>Roy de Mais=
tre</strong><span>, </span><strong>Paul Feiler</strong><span>, </span><stro=
ng>Pauline Boty</strong><span>, </span><strong>Emily Young</strong><span> a=
nd </span><strong>William Scott</strong><span> were the other artists who s=
aw their works bid above the estimate range and into the six figures.</span=
></p><div class=3D"captioned-image-container-static" style=3D"font-size: 16=
px; line-height: 26px; margin: 32px auto;"><figure style=3D"margin: 0 auto;=
width: 100%;"><table class=3D"image-wrapper" width=3D"100%" border=3D"0" c=
ellspacing=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-alig=
n: 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/83ec6f82-a8a0-4c5c-8803-141420c9584a?j=3DeyJ1=
IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel style=3D"a=
lign-items: center; border: none; display: block; flex-direction: column; h=
eight: auto; margin: 0; padding: 0; position: relative; text-decoration: no=
ne; width: auto;"><img data-attrs=3D"{"src":"https://substac=
k-post-media.s3.amazonaws.com/public/images/ec8a35cb-e5a4-4dfc-830d-aa02979=
4662f_1600x1280.png","srcNoWatermark":null,"fullscreen&=
quot;:null,"imageSize":null,"height":1165,"width&q=
uot;:1456,"resizeWidth":null,"bytes":null,"alt&quo=
t;:null,"title":null,"type":null,"href":null,=
"belowTheFold":true,"topImage":false,"internalRedi=
rect":null}" alt width=3D"550" height=3D"440.07554945054943" class=3D"=
wide-image" src=3D"https://substackcdn.com/image/fetch/w_2912,c_limit,f_aut=
o,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.ama=
zonaws.com%2Fpublic%2Fimages%2Fec8a35cb-e5a4-4dfc-830d-aa029794662f_1600x12=
80.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"text-align: center;"></td></tr></tbody></table><figcaption cla=
ss=3D"image-caption" style=3D"box-sizing: content-box; color: #808080; font=
-size: 14px; font-weight: 400; letter-spacing: -.15px; line-height: 20px; m=
argin-top: 8px; padding-left: 15%; padding-right: 15%; text-align: center; =
width: 70%;"><span>Pauline Boty, </span><em>Epitaph to Something’s Go=
t to Give</em><span> (1962), $1.67m</span></figcaption></figure></div><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(54, 55, 55); font-family: 'SF Pro Display', -apple-system-headli=
ne, system-ui, -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helve=
tica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI S=
ymbol'; font-size: 1.625em; font-weight: bold; line-height: 1.16em; margin:=
1em 0 0.625em 0; position: relative;"><strong>Art Basel Hong Kong sales re=
port</strong></h2><div class=3D"captioned-image-container-static" style=3D"=
font-size: 16px; line-height: 26px; margin: 32px auto;"><figure style=3D"ma=
rgin: 0 auto; width: 100%;"><table class=3D"image-wrapper" width=3D"100%" b=
order=3D"0" cellspacing=3D"0" cellpadding=3D"0" data-component-name=3D"Imag=
e2ToDOMStatic" 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"_bla=
nk" href=3D"https://substack.com/redirect/47f597db-0fc7-46bf-ade0-8ba49f64a=
86f?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" re=
l style=3D"align-items: center; border: none; display: block; flex-directio=
n: column; height: auto; margin: 0; padding: 0; position: relative; text-de=
coration: none; width: auto;"><img data-attrs=3D"{"src":"htt=
ps://substack-post-media.s3.amazonaws.com/public/images/5f8cb3f7-e96f-4517-=
9cbc-eb690dfadbce_2480x1650.jpeg","srcNoWatermark":null,&quo=
t;fullscreen":null,"imageSize":null,"height":969,&=
quot;width":1456,"resizeWidth":null,"bytes":404697=
7,"alt":null,"title":null,"type":"image/=
jpeg","href":null,"belowTheFold":true,"topIma=
ge":false,"internalRedirect":null}" alt width=3D"550" height=
=3D"366.0370879120879" 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%2F5f8cb3f7-e96=
f-4517-9cbc-eb690dfadbce_2480x1650.jpeg" style=3D"-ms-interpolation-mode: b=
icubic; border: none !important; display: block; height: auto; margin: 0 au=
to; margin-bottom: 0; max-width: 100% !important; vertical-align: middle; w=
idth: auto !important;"></a></td><td style=3D"text-align: center;"></td></t=
r></tbody></table></figure></div><p style=3D"color: rgb(54, 55, 55); font-s=
ize: 16px; line-height: 26px; margin: 0 0 20px 0;">Hong Kong’s appeal=
to the international art market is as a gateway to mainland Chinese buyers=
who, by all reports, streamed into the city this year in even greater numb=
ers than last. A year ago, Hong Kong was riding a wave of pent-up demand he=
ld back by pandemic closures. But, according to Clare McAndrew, sales slowe=
d later in the year in Asia once that demand was satisfied. </p><p sty=
le=3D"color: rgb(54, 55, 55); font-size: 16px; line-height: 26px; margin: 0=
0 20px 0;"><span>First day reports from Hong Kong offer mixed signals. Som=
e galleries, like David Zwirner, are loudly claiming better opening day sal=
es than in 2023. In well-rehearsed statement to</span><a href=3D"https://su=
bstack.com/redirect/32b4f9e2-df35-465c-93ef-12da82385acd?j=3DeyJ1IjoiMjdjZX=
I5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel style=3D"color: rgb(=
54, 55, 55); text-decoration: underline;"> the South China Morning PostR=
17;s excellent reporter Enid Tsui</a><span>, Zwirner called the fair “=
;a vast improvement on last year” before adding what might be conside=
red all-purpose Art Basel boilerplate,“it is especially exciting that=
the client mix is truly international, including many museum directors and=
curators this year.”</span></p><p style=3D"color: rgb(54, 55, 55); f=
ont-size: 16px; line-height: 26px; margin: 0 0 20px 0;">As a counterpoint, =
Tsui reports that Brendan Dugan’s Karma admitted to “fewer conf=
irmed sales on VIP day than in 2023.”</p><p style=3D"color: rgb(54, 5=
5, 55); font-size: 16px; line-height: 26px; margin: 0 0 20px 0;">Gagosian&#=
8217;s Nick Simunovic continued the theme of singling out museum buyers and=
describing sales as “steady and efficient” which could easily =
be read as nice but not earth shattering. Gagosian doesn’t provide as=
king prices but the artists named were Carol Bove, Hao Liang, Tetsuya Ishid=
a, Sarah Sze, Nathaniel Mary Quinn, Mary Weatherford, and Stanley Whitney&#=
8221;</p><p style=3D"color: rgb(54, 55, 55); font-size: 16px; line-height: =
26px; margin: 0 0 20px 0;"><span>Gladstone gallery had sales including a 10=
-foot x 10-foot Alex Katz painting from 2021 with an asking price of $1.3 m=
illion; Rirkrit Tiravanija diptych priced at $200,000; Ugo Rondinone’=
s sculpture </span><em>yellow pink monk</em><span> made this year priced at=
$90,000, along with “multiple” paintings priced at $70,000; an=
untitled Amy Sillman work on paper priced at $75,000; and Annicka Yi’=
;s Late Clasical XVIII from 2022 priced at $110,00. </span></p><p styl=
e=3D"color: rgb(54, 55, 55); font-size: 16px; line-height: 26px; margin: 0 =
0 20px 0;">Marc Payot at Hauser & Wirth said in a release that "Th=
e energy […] exceeded our expectations this year and is a reflection =
of the highly engaged and sophisticated audience for art in the wider regio=
n and our sustained engagement here.” He cited sales for Philip Gusto=
n's'The Desire' (1978) at $8.5 million and Willem de Kooning’s, 'Unti=
tled III' (1986) for $9 million. Neither work was included in Hauser’=
s initial list of sales. It would be rare for a seven-figure painting to be=
sold to a walk-in buyer. So it is likely that both the Guston and de Kooni=
ng received approval from their buyers some time during the first day of th=
e vernissage. Hauser also announced sales of Mark Bradford’s ‘M=
ay the Lord be the first one in the car… and the last out.’ (20=
23) for $3.5 million; a Maria Lassnig painting from 1995 for $650,000; a Ch=
arles Gaines work from his Numbers and Trees series; a work from Rashid Joh=
nson’s ‘God Painting’ series made in 2023 for $750,000; a=
major painting by Pat Steir from 2022 for $850,000 and Avery Singer’=
s ‘Poppers’ (2024) for $800,000."</p><p style=3D"color: rg=
b(54, 55, 55); font-size: 16px; line-height: 26px; margin: 0 0 20px 0;"><a =
href=3D"https://substack.com/redirect/b3206e8f-873e-42aa-8c44-fc41cb11882b?=
j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel st=
yle=3D"color: rgb(54, 55, 55); text-decoration: underline;">Angelica Villa =
from ARTnews reported</a><span> on these sales from Pace and David Kordansk=
y: “​​Pace […] sold 15 works by artists across its =
roster, including ones by Adam Pendleton, Kylie Manning, and Maysha Mohamed=
i. […] The Pendleton, a 2023 painting </span><em>titled Black Dada (D=
)</em><span>, brought in the highest price of the sold works, going for $27=
5,000. […] David Kordansky reported selling a total of 17 works on th=
e first day. Five of them, works by Joel Mesler to Shara Hughes, went for p=
rices north of $100,000.”</span></p><div style=3D"font-size: 16px; li=
ne-height: 26px;"><hr style=3D"background: #e0e0e0; border: none; height: 1=
px; margin: 32px 0; padding: 0;"></div><p style=3D"color: rgb(54, 55, 55); =
font-size: 16px; line-height: 26px; margin: 0 0 20px 0;"><strong>David Vela=
sco Calls In from the Wilderness</strong></p><p style=3D"color: rgb(54, 55,=
55); font-size: 16px; line-height: 26px; margin: 0 0 20px 0;"><span>We sho=
uld talk about what’s going on with David Velasco, the former editor =
in chief of </span><em>Artforum</em><span> who lost his job in the emotiona=
lly and politically super-heated aftermath of Hamas’s horrific terror=
attack on Israeli citizens and Israel’s brutal response in Gaza. Ove=
r the weekend, </span><a href=3D"https://substack.com/redirect/d85928b5-94d=
8-4f31-85ff-8e6c385e22f6?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRni=
gHXx6Fx_g6pp7gWdY" rel style=3D"color: rgb(54, 55, 55); text-decoration: un=
derline;">he revealed in </a><em><a href=3D"https://substack.com/redirect/d=
85928b5-94d8-4f31-85ff-8e6c385e22f6?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmM=
pisrMe5iRnigHXx6Fx_g6pp7gWdY" rel style=3D"color: rgb(54, 55, 55); text-dec=
oration: underline;">Airmail</a></em><a href=3D"https://substack.com/redire=
ct/d85928b5-94d8-4f31-85ff-8e6c385e22f6?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0=
jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel style=3D"color: rgb(54, 55, 55); text=
-decoration: underline;"> </a><span>that he is currently “living out =
of a suitcase.” Velasco says he can no longer afford his apartment, h=
as few job prospects, was living “paycheck to paycheck,” even b=
efore he lost his job, and “didn’t have a savings account.̶=
1; </span></p><p style=3D"color: rgb(54, 55, 55); font-size: 16px; line-hei=
ght: 26px; margin: 0 0 20px 0;"><span>That’s tough for anyone who onc=
e had a fair bit of status in the art world and a decently paid job. Still,=
I’m sure there are a lot of people who won’t have sympathy for=
him. After all, even by his own account, he seems to have misjudged the si=
tuation surrounding the publication of an open letter from artists and othe=
rs pleading for the safety of Palestinians. By his own admission, he courte=
d controversy with the letter but got a lot more than he bargained for. Vel=
asco seems to have believed that it was essential to make a statement even =
though the essence of an editor’s role is to anticipate the way in wh=
ich editorial decisions will land. Five months later, </span><em><a href=3D=
"https://substack.com/redirect/d85928b5-94d8-4f31-85ff-8e6c385e22f6?j=3DeyJ=
1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel style=3D"=
color: rgb(54, 55, 55); text-decoration: underline;">Airmail</a></em><a hre=
f=3D"https://substack.com/redirect/d85928b5-94d8-4f31-85ff-8e6c385e22f6?j=
=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel sty=
le=3D"color: rgb(54, 55, 55); text-decoration: underline;"> still finds him=
pinioned by his own choices</a><span>. </span></p><p style=3D"color: =
rgb(54, 55, 55); font-size: 16px; line-height: 26px; margin: 0 0 20px 0;"><=
span>The peculiar nature of </span><em>Artforum</em><span>, its recent hist=
ory and the ambivalence of the art world’s audience, explains more ab=
out how Velasco got where he is than any question of free speech. ThereR=
17;s no denying that the hot-house identity politics of much art writing ov=
er the last two decades has helped fuel a market for artists whose collecto=
rs might not actually share all of their political views. The Trump years h=
ave only further exposed that many wealthy collectors may not have been ful=
ly aligned with the political views of the artists they collect. </spa=
n></p><p style=3D"color: rgb(54, 55, 55); font-size: 16px; line-height: 26p=
x; margin: 0 0 20px 0;"><span>But that’s not really what got Velasco =
fired. Again, </span><a href=3D"https://substack.com/redirect/d85928b5-94d8=
-4f31-85ff-8e6c385e22f6?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnig=
HXx6Fx_g6pp7gWdY" rel style=3D"color: rgb(54, 55, 55); text-decoration: und=
erline;">just going by his own account to </a><em><a href=3D"https://substa=
ck.com/redirect/d85928b5-94d8-4f31-85ff-8e6c385e22f6?j=3DeyJ1IjoiMjdjZXI5In=
0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel style=3D"color: rgb(54, =
55, 55); text-decoration: underline;">Airmail</a></em><span>, it’s pr=
etty clear that Velasco didn’t—and still doesn’t—un=
derstand a basic principle of journalism. He wasn’t fired because of =
his political views. He was fired because he didn’t give his publishe=
r the opportunity to discuss his decision to sign the open letter before he=
put it on the magazine’s website. </span></p><p style=3D"color:=
rgb(54, 55, 55); font-size: 16px; line-height: 26px; margin: 0 0 20px 0;">=
Signing the letter transformed the act of publishing it from journalism int=
o advocacy, a distinction Velasco still doesn’t accept. He could have=
published the open letter as a news item with the appropriate caveats and =
distance. Indeed, that’s what was quickly done to help diffuse the co=
ntroversy. There was only one more step required for Velasco to bring down =
the temperature and save his job. It wasn’t really even very hard. Al=
l he had to do was say he didn’t understand the need to consult his p=
eers on the business side and that it wouldn’t happen again. </p=
><p style=3D"color: rgb(54, 55, 55); font-size: 16px; line-height: 26px; ma=
rgin: 0 0 20px 0;"><span>Here is how </span><a href=3D"https://substack.com=
/redirect/d85928b5-94d8-4f31-85ff-8e6c385e22f6?j=3DeyJ1IjoiMjdjZXI5In0.nCNh=
OM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel style=3D"color: rgb(54, 55, 55=
); text-decoration: underline;">Louis Cheslaw relates Velasco’s under=
standing</a><span> of his meeting with Penske Media’s owner, Jay Pens=
ke, “When they eventually met, Penske asked him for ‘some kind =
of </span><em>mea culpa,</em><span>’ which he was not prepared to giv=
e. By the end of the day, he had been fired and shut out of his accounts.&#=
8221; </span></p><p style=3D"color: rgb(54, 55, 55); font-size: 16px; =
line-height: 26px; margin: 0 0 20px 0;">Some kind of mea culpa doesn’=
t seem like a high price to pay for a decision that Velasco “felt [&#=
8230;] was done with integrity and the right spirit” but that had als=
o obviously backfired. </p><p style=3D"color: rgb(54, 55, 55); font-si=
ze: 16px; line-height: 26px; margin: 0 0 20px 0;">Since changes were made t=
o the original post after the outraged response, why was it too hard to adm=
it that maybe he got it wrong and, in the future, he would to inform his pu=
blisher of these decisions before he made them public? Or did mea culpa mea=
n something different to him?</p><p style=3D"color: rgb(54, 55, 55); font-s=
ize: 16px; line-height: 26px; margin: 0 0 20px 0;"><span>Because Velasco re=
fused to walk back any of his decisions, it created a perfect storm for the=
business. Any gallery that continued to advertise in </span><em>Artforum</=
em><span> would potentially offend someone on either side. The safest stanc=
e was to stop advertising. Some did it vocally. Many others did it quietly.=
 </span></p><p style=3D"color: rgb(54, 55, 55); font-size: 16px; line-=
height: 26px; margin: 0 0 20px 0;"><span>There was another reason for galle=
ries to pull ads, too. In the five years since Velasco became editor, galle=
ries had continued to build their own direct relationship with the art audi=
ence through email lists and Instagram accounts. While the third-party vali=
dation of reviews, feature stories, critical appraisals—and even ads&=
#8212;remains useful to galleries, that is no longer the only route to main=
taining contact with a large and diverse audience. For years, dealers kept =
advertising in </span><em>Artforum</em><span> less for its effectiveness an=
d more because their artists might have felt slighted. But now some of the =
artists were calling for their gallery’s ads to be removed.</span></p=
><p style=3D"color: rgb(54, 55, 55); font-size: 16px; line-height: 26px; ma=
rgin: 0 0 20px 0;"><span>There was also the Knight Landesman factor. Landes=
man had built </span><em>Artforum</em><span> into a thick catalog of galler=
y ads over a 35-year career that ended in a #metoo moment when nine women s=
ued him for sexual harassment and retaliation. It was Landesman’s rel=
entlessness as a seller that kept the art industry advertising in </span><e=
m>Artforum</em><span> long after it had abandoned other publications. =
</span></p><p style=3D"color: rgb(54, 55, 55); font-size: 16px; line-height=
: 26px; margin: 0 0 20px 0;"><span>Inadvertently, Landesman had also played=
a role in putting Velasco in his current bind. Put simply, because the edi=
torial content had little effect on ad sales, </span><em>Artforum</em><span=
> gave free reign to its editors and, it would appear, very little oversigh=
t. Velasco didn’t tell his publishers he was going to sign and publis=
h a provocative letter because no one had ever asked him to do that before.=
Cheslaw writes that “Velasco […] claims there wasn’t any=
precedent of running editorial initiatives up the corporate chain.” =
The implication in </span><em>Airmail</em><span> is that the corporate chai=
n refers to Penske Media but it appears that the lack of oversight also app=
lied to </span><em>Artforum</em><span> when it was independently owned.=
0;</span></p><p style=3D"color: rgb(54, 55, 55); font-size: 16px; line-heig=
ht: 26px; margin: 0 0 20px 0;">One of those owners was Knight Landesman. Si=
x years to the month before Velasco lost his job, Landesman was accused of =
sexual harassment and retaliation by nine women. The accusations caused the=
previous editor in chief, Michelle Kuo, to resign because she could no lon=
ger publicly represent the organization. </p><p style=3D"color: rgb(54=
, 55, 55); font-size: 16px; line-height: 26px; margin: 0 0 20px 0;"><span>T=
he suit against Landesman would eventually get dismissed due to the statute=
of limitations and the issue of standing on some of the charges; but an ap=
peals court did eventually let the claims of one former employee—that=
</span><em>Artforum</em><span> failed to protect her from Landesman—=
proceed against the magazine. </span><em>Artforum</em><span> eventually se=
ttled. </span></p><p style=3D"color: rgb(54, 55, 55); font-size: 16px;=
line-height: 26px; margin: 0 0 20px 0;"><span>The revelations shocked and =
perturbed the art industry—but not Velasco. Or, at least, not enough =
for him to share Kuo’s inability to represent the organization where =
he had already worked for more than a dozen years. Editor in chief of </spa=
n><em>Artforum</em><span>, he told </span><em>Airmail</em><span>, was his d=
ream job. </span></p><p style=3D"color: rgb(54, 55, 55); font-size: 16=
px; line-height: 26px; margin: 0 0 20px 0;">But you can also imagine how, i=
n the aftermath of the Landesman revelations, that the editorial side would=
want to insulate itself from the business side even more than it already h=
ad been. That might have made it easier for Velasco to move ahead in the wa=
ke of Landesman’s departure but it had the unexpected effect of leavi=
ng him isolated from his colleagues when he most needed their counsel. =
;</p><p style=3D"color: rgb(54, 55, 55); font-size: 16px; line-height: 26px=
; margin: 0 0 20px 0;"><span>If Velasco had consulted with </span><em>Artfo=
rum</em><span>’s publisher before posting the open letter on his webs=
ite with his own signature and the signature of some of his colleagues and =
they had advised him against it, would he have changed Velasco’s deci=
sion? From what we’re shown in </span><em>Airmail</em><span>, the ans=
wer is probably not. And if he’s comfortable with that, there’s=
nothing more to say. </span></p><div style=3D"font-size: 16px; line-h=
eight: 26px;"><hr style=3D"background: #e0e0e0; border: none; height: 1px; =
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