THIS WEEK IN THE ART MARKET – FRIDAY 9TH AUGUST 2024
Art Market News
ANDY WARHOL’S DIGITAL PORTRAIT OF DEBBIE HARRY HITS THE MARKET AT $26 MILLION
A rare digital portrait of Blondie’s lead singer, Debbie Harry, created by Pop art icon Andy Warhol in 1985, is now up for sale with an asking price of $26 million. This unique work was made during Warhol's collaboration with Commodore Computers, where he used an Amiga computer to produce the image. The sale is being facilitated by Jeff Bruette, a former Commodore engineer who worked closely with Warhol and possesses a Warhol-signed floppy disk containing 10 digital images, including the portrait of Harry.
This offering is significant as it represents one of Warhol’s early forays into digital art, a medium that was groundbreaking at the time. The digital portrait, along with other related ephemera, has the potential to attract interest from collectors and museums, especially given the strong provenance and historical context.
The portrait of Debbie Harry was originally created during a public demonstration at Lincoln Center, where Warhol invited Harry to model for the computer-generated artwork. The event, captured on video, marked a pivotal moment in Warhol’s career, as he embraced the possibilities of digital art.
Included in the sale are additional digital images created by Warhol, a USB drive with backup copies, an original Amiga 1000 computer system, and various press materials from the event. The unique nature of this offering, coupled with the rarity of Warhol’s digital works, makes it a valuable piece for collectors and institutions interested in the intersection of art and technology.
Despite some initial skepticism from the now-defunct Warhol authentication board, the work’s provenance is supported by extensive documentation and photographs, giving confidence to potential buyers. This sale highlights the evolving market for digital art and the enduring legacy of Andy Warhol’s innovative approach to new media.
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BANKSY UNVEILS THIRD NEW MURAL IN LONDON: THREE MONKEYS SWING INTO THE CITY
Banksy has revealed a third new mural in London, featuring three monkeys swinging on a bridge near Brick Lane. This latest piece, confirmed through the artist’s Instagram on August 7, follows two other animal-themed works that appeared earlier this week: a black mountain goat on a wall near Kew Bridge and two elephants painted on blocked windows in Chelsea. While Banksy has not provided captions or titles for any of these works, the series has sparked widespread speculation about their meaning. The murals have quickly attracted public attention, raising concerns about their preservation, especially given the recent defacement of another Banksy piece in London.
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YAYOI KUSAMA UNVEILS HER FIRST PERMANENT PUBLIC SCULPTURE IN THE UK
On August 7, Yayoi Kusama unveiled Infinite Accumulation (2024), her first permanent public sculpture in the UK and the largest Kusama public artwork globally. Located at London’s bustling Liverpool Street Station, the site-specific piece consists of linked, reflective silver spheres stretching over 32 feet high, 39 feet wide, and 328 feet in length. Commissioned by The Crossrail Art Foundation as part of the Elizabeth line’s public art program, the sculpture symbolizes the diverse personalities and interconnected social structures of London’s dynamic population. The unveiling of Infinite Accumulation follows Kusama’s recent installation of a bronze pumpkin sculpture in Kensington Gardens, further solidifying her presence in London’s public art scene.
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KIAF SEOUL 2024: A RECORD-BREAKING EVENT IN THE KOREAN ART SCENE
Kiaf Seoul 2024 is set to be the largest edition of Korea’s premier art fair, bringing together 207 galleries from across the globe. Taking place from September 5th to 8th at Seoul's COEX, this year’s fair features new expansions, including the debut of a second-floor exhibition space and the innovative Kiaf onSITE: Invisible Transitions program, which will present large-scale installations, VR artworks, and performances in unconventional spaces. The fair, held alongside Frieze Seoul, highlights both Korean contemporary art and global trends, with a focus on emerging talents. Despite the art market's recent period of adjustment post-pandemic, Seoul is rapidly establishing itself as a global art hub, driven by a younger generation of collectors and an increasing international interest in Korean culture.
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THE SANTA FE INDIAN MARKET: CELEBRATING INDIGENOUS ART AND CULTURE BEYOND THE PLAZA
The Santa Fe Indian Market, now in its 102nd year, continues to be the world's largest Native arts show, featuring over 1,000 artists from more than 200 tribes on August 17-18. Beyond the central market, a vibrant array of satellite events celebrates Indigenous art and culture. The Pathways Indigenous Festival at Buffalo Thunder Resort & Casino (August 16th to 18th) showcases 350 artists, along with fashion shows, films, and performances. The IndigenousWays Festival on August 16 at Santa Fe Railyard Park offers live music and hands-on activities. The Wheelwright Museum hosts a benefit sale and Artists’ Market from August 14-18, supporting Native artists. Additionally, the Free Indian Market at Federal Park, managed by Indigenous elders, welcomes over 500 artists, emphasizing family and tradition. Together, these events highlight the rich diversity and continued growth of Indigenous art and culture.
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ASPEN ARTWEEK 2024: COOLING DOWN WITH HOT ART IN THE SUMMER
Aspen ArtWeek 2024 successfully countered market contraction fears, proving that Aspen's appeal extends beyond its winter ski season. The inaugural Aspen Art Fair, held from July 26 to August 2, brought over 20 galleries to the historic Hotel Jerome, attracting affluent collectors and art enthusiasts. Co-founder Rebecca Hoffman’s strategic choice of venue, along with galleries like Perrotin and Southern Guild, set the stage for a week of art-filled elegance.
Beyond the fair, Intersect Art and Design hosted 31 galleries at the Aspen Ice Garden, and exclusive events like Lena Henke’s hike and Ryan Trecartin’s mountaintop concert added unique flair. The week culminated with the record-breaking ArtCrush Gala, which raised $4.5 million for the Aspen Art Museum. The success of Aspen ArtWeek highlighted the resort town’s growing stature as a summer art destination, offering a relaxed environment for art appreciation amid the Rockies.
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Christina Park, hailing from South Korea and Shanghai, is currently undertaking a degree in psychology with a minor in business at Singapore's prestigious NTU. Her profound understanding of human behaviour and cognition, enriched by her international experiences, brings a unique and valuable perspective to Art Works. Christina excels in analytical writing, creative problem-solving, and rigorous research, driven by a deep-seated passion for enhancing the human experience.