Let’s talk about Richard Polsky.  He’s an art dealer-turned-author who wrote the 2009 book, I Sold Andy Warhol (Too Soon). He has published another work recently and, just in the last week, could be found signing copies of it alongside Shepard Fairey (you know–the artist who streetified the AP photo of Obama which became the famous ‘HOPE’ poster?) at a venue in West Hollywood.

Polsky’s Warhol book is candid and confessional and worth a read for art market geeks.  The writing isn’t outstanding but the insider’s perspective on the art market is unusually enlightening.

Richard Polsky's 2009 art market exposé.

One theme in Polsky’s work is the complete lack of regulation of the art market.  He points out that in most states you need to be licensed to give manicures; however, there are no minimum criteria for someone who wants to sell you a million dollar painting.  It’s both fascinating and intimidating to consider whether this is a hindrance or an enhancement to the art market.  As with anything, it isn’t black and white, most likely it is some complex combination of the two.

From an art appraisal standpoint, the most interesting idea he promotes is the “Mugrabi Factor.”  This is the increasingly common phenomenon of wealthy collectors manipulating the auction market.  The Mugrabi family recognized the simultaneous marketability and undervaluation of Warhol’s work in the 1980s so they bought as many Warhols as they could get into their hands.  Within a decade they began submitting them for auction and bid them up like crazy.   Some credit the Mugrabis for nearly single-handedly pushing Warhol’s once $300,000 works to the multi-million dollar level by the early 2000′s.

One of many versions of "Fright Wig"--the Warhol Richard Polksy sold 'too soon.'

What about when the Mugrabis get into a bidding war over a Warhol?  Alberto Mugrabi has been quoted to claim that, “I’m only helping my collection.  If I don’t get it, I’m keeping the market healthy.”  Interestingly, at one point, the Mugrabi family was rumored to have amassed nearly 800 Warhols.  Some art market analysts credit them not only for the astronomical rise in value for Warhol’s works–but also Basquiat’s.

Charles Saatchi, the British advertising superstar, has been known to create similar value for artists in his own collection by creating a market for them.  Really, this type of thing is no secret.  Creating a market and demand for your artists is the basic approach art galleries use–the shift with the Mugrabis and Saatchi is that they started doing this with their private collections and did so through the avenue of auction houses–their hope was to deepen their pockets by creating a false sense of demand for their ‘pet’ artists with their up-bidding.

So what does this mean from an appraiser’s standpoint?  Well, it means that when a good appraiser values artwork, he or she should not rely solely on one market level; in this case, the top-tier auction level.  Both public auction sales (at multiple levels) and private dealer or gallery sales must always be researched and analyzed.  It also indicates that the art market for individual artists can be altogether unpredictable despite the general trends in the market overall.  The best folks to analyze these complex and occasionally competing trends?  Yup. You guessed it.  Trained, accredited, professional art appraisers.

Final note: I recommend listening to a recent Polsky interview on public radio.  It isn’t all that long and it covers a lot of art world territory.  I recommend it even though, when posed with the question, “How does one go about finding an honest and scrupulous appraiser?” he says, “You don’t.”  Come on, Polsky!  I would beg to differ!

Here is a preview of the upcoming January 2012  PavTALK at the Washington Pavilion in Sioux Falls.  One of the featured speakers will be me–Kara Dirkson of Artísia Fine Art Services.  More details to follow!

The drama and dynamism of extreme weather has been a source of inspiration for artists throughout history and across various cultures–from Paul Klee’s “Vor dem Blitz” to Alton’s “Flood Sufferings” and from Turner’s “Slave Ship” to Yoshitsuya’s “Lightning Bolt.”  We’ll explore the portrayal of extreme weather in art, then discuss a fascinating project in which art and the science of weather collided when, in the 1960s, weather historian Franz Neuberger examined thousands of landscape paintings from 1400 to 1967 and used them to assemble a retrospective climatological history of Europe.  His findings are quite amazing. Last–we’ll discuss the modern effects of weather and climate on artwork giving special attention to recent flooding in the Midwest and its implications on the market for fine art.

Yoshitsuya Ichieisai, The Lightning Bolt, c. 1865. Triptych, 29" x 14". From the series Ten Heroes of the Tametomo.

These days the worlds of my leisure and professional reading have converged in the book “Seven Days in the Art World” by Sarah Thornton.  She examines the art world from seven different perspectives—the auction, the “crit,” the fair, the prize, the magazine, the studio visit and the Biennale.  She immerses herself in each of these situations as a proverbial “fly on the wall” before diving into the action of each one, interacting face to face with those involved, asking them broad questions about the indefinable and unpredictable nature of the art world—the creation, the exchange, the competition, and the nurturing of artwork.  The result is an entertaining and enlightening read for people like me who lurk somewhere outside each of the venues she explores.  As an appraiser, that really is where I see myself—lurking nearby these venues but not usually a direct participant in them.  In fact, if I am doing my job well, I am an observer, analyzer and reporter on the art market, not a manipulator of it.  And yes, in case you are wondering, I do strive to do my job well.

I digress.  The real point of this post is to share a fascinating observation in it made by Michael Craig-Martin at Goldsmiths.  (Goldsmiths is arguably the most forward-thinking, go-against-the-grain art school in the UK.)  Craig-Martin observes that artists need “friendships with an in-built critique . . . if you look at the history of art, all the Renaissance artists knew their contemporaries.  So did the impressionists.  There was a moment in their lives when they were all friends or acquaintances.  The cubists were not simply individual geniuses.  Their greatest works happened in conjunction.  Who was van Gogh’s best friend?  Gaugin.”

Gaugin and van Gogh. Friends and short-term roommates.

This observation challenges the view of an artist as an isolated genius—or madman/madwoman in some cases.   I agree with Craig-Martin–there seems to be something energizing and electrifying about creative minds working in tandem.  His words also dovetail* nicely with the energy behind a group of area artists I have come to grow quite fond of on a personal level.  It’s a group which gathers weekly to sketch together and then to unwind over a few drinks afterward.  Some of them earn their living with their artwork, others pursue it in addition to a day job.  Although no formal critique is built into their time together, all of them seem to understand the value of Craig-Martin’s belief in the need for a certain amount of artistic camaraderie to spur individual artistic development.

Artists, I ask, who are your artistic comrades?  Have you allowed yourself to be critiqued by a fellow artist lately?

The drawing group I mention happens to have a Facebook page.  You can check it out here.

*A side note–the term “dovetail” was forever ingrained in my mind by Michael Fitzgerald, history professor at St. Olaf College in the 1990s.  He helped me learn everything I know about the American Civil Rights movement and coached me as I dove into the microfiche reels containing the SNCC papers at the University of Minnesota in 1995.  The research I produced was recognized by a dear historian who has since passed away, Duane Matz at Augustana College.  These men did much to foster my love of history.  Which, as you might imagine, “dovetailed” nicely into the study of art history when the time was right.  Couldn’t help myself on that one.

Yep.  That’s right.  Mark little old Madison, SD on the international art events map this week as its neighboring Prairie Village is the setting of one of a series of art and cultural festivals known as White Night or Nuit Blanche on Friday, June 17.  These independent festivals originated in parts of Europe and the one near Madison claims to be the first one in the ‘lower 48′.  Until I hear otherwise, I am going to happily grant the organizers that title.

It would seem that the indefatigable Chris Francis, president of the Madison Area Arts Council, is behind this one.  This guy is becoming a powerhouse organizer for the visual arts in SE South Dakota.  An artist himself and father of two, I’m not sure where he gets all his energy.

Friday night’s festivities include performances by area bands, plein air artists, crafts, poets, a guest speaker who will discuss historic rural architecture and a train ride.  All in the lovely historic setting of Prairie Village next to Lake Herman.  Bring a lawn chair, a cooler with your favorite spirited or non-spirited refreshments, a little bug spray and it sounds like you’ll have a heck of a good time.  White Night goes on rain or shine– the Welk Opera House will host events if weather is wet.

One more thing—this event is FREE to attend!

Check it out: Madison Area White Night Fesitval

Artists–are you looking for wider recognition?  Collectors–are you looking to buy interesting work from new and emerging artists around the country before they have been picked up by a retail gallery?  Here is a site you might find worthwhile: Light Space and Time Gallery.

It is an online resource that hosts monthly competitions and marketing ideas for new and emerging artists.  In its own words, winners of their monthly contests are promoted . . .

” . . . in a series of direct mail pieces to [a] list of art galleries, artist representatives and corporate art representatives throughout the World. In addition, Light Space & Time issues press releases announcing the achievements of the finalists to 50+ news outlets. These press releases will provide excellent publicity for the artists and can be linked to the artist’s website for further promotional purposes by the artist. The press releases contain artist information and links to the gallery and also to the artist’s personal website for further promotion and marketing exposure. Light Space & Time also maintains an archive of competitions, along with the finalists artwork and biography on the gallery website. The gallery archive helps the artists to promote and market their work on an ongoing basis.”

Light, Space & Time charges a nominal fee ($10) for artists to enter two works in the competition and $15 for 3-5 works.  Works need not be physically submitted–digital images are required.  Each competition is themed and the site founder, John Math, forwards buyers’ inquiries to submitting artists.

Artists & collectors–check it out!  If you do, please report back here on your experience with it.  I’d love to hear your thoughts!