“art market”

Ready Art, “the Hermès of the French artistic scene”

Launched in 2015, Ready Art may well become the indispensable tool for collectors who wish to encounter the French contemporary scene over the Internet. This selective website is a place where handpicked artists meet galleries. The platform Ready Art sets out to present top artists from today’s French scene to cybernauts from every country. The founders of this wonderful project, Tristan Vyskoc and Albane Rouvière, come from the universe of finance, but have always maintained close links with contemporary art. They are collectors themselves, and Tristan Vyskoc, also an artist. We talk strategy and artistic creation, collection and start-ups …   What originally inspired you to launch the Ready Art site? Tristan Vyskoc: We both worked in consultancy for fifteen years. We sold our business in 2014 and really wanted to work in art. We’d already invested in art-related web sites such as Artips and Barter. At the same time, we’ve always been collectors, and I’m also an artist. We noticed that artists close to us had trouble being represented on the Web. So we looked for a viable economic model with a very strong positioning. We worked for twelve months before launching Ready Art, in February 2016. We want to show the French scene exclusively and to support it internationally, with the idea of becoming the Web leader on the French scene in five years’ time. Many people told us that we were “crazy” and that we wouldn’t succeed… Albane Rouvière: Our site promotes the French artistic scene but our spectrum is fairly broad. Our artists are French, whether born or residing in France, or having a strong link to France. In addition, Ready Art is a networking platform. Works can be placed on the web site by galleries, or artists directly when they aren’t represented by a...

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Success guaranteed: about art loans

Investment, leverage effect, liquid assets… Here’s the latest trend in the world of finance: the granting of loans using artworks as collateral. We examine this new practice, born from a simple observation. Art is now an asset: a big one.   The practice of borrowing money using art as a guarantee is not a particularly new one. Back in 1990, the Wildenstein family presented to the world The Lute Player, a misattributed work discovered to be a Caravaggio, and subsequently sent it to the Metropolitan Museum in New York. Recent findings during the family’s trial revealed that the work was also used as a guarantee for a loan: a big one considering the 100 million-dollar valuation. This financial tool, available to the Wildensteins because of the family’s unquestionable fortune, is now available to smaller collectors. While the practice is not a new one, it has only been in the last 5 years that it has become widespread in the art-banking world. It is estimated that there are between 15 and 20 billion dollars in outstanding loans (the sum of the value of all artworks currently backing loans). The structure of the deal is very simple: collectors offer an artwork in exchange of a loan with lower interest rates, based on the price of the piece, for a predetermined period. At the end of the tenure, the client gives the money back to the institution. What makes the system different from a pawnshop, apart from the big values, is the fact that clients pay interest for the loans, a small value every month. Depending on the structure of the deal, the artworks offered as collateral can stay with the collector during the period or not. There are 3 types of institutions that provide this service: big banks, boutique lenders and auction houses. Any...

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Nana Oforiatta-Ayim: a new model of showing contemporary art

Coinciding with the 60th anniversary of Ghana’s independence, the country’s capital Accra saw open a new multi-purpose contemporary art space. ANO aims to serve as a hub for the city’s growing art scene. Interview with Nana Oforiatta-Ayim, writer, art historian, filmmaker and founder of ANO.   ANO – what does this signify? It actually comes from the Ghanaian word for grandmother. In Ghana, grandmother or old woman, is a metaphor for knowledge and wisdom. ANO is very much also about bringing to the fore hidden or untold cultural histories, so she seemed like a very good metaphor for that. Also, in Esperanto it means belonging. When I started working in arts, African art was very much outside of the centre, so it is also about belonging to the world’s discourse and having our place. How was the idea for this new art space born? Last year I helped to set up a gallery, called Gallery 1957, in the Kempinski Hotel in Ghana. I had always realised the need for more sustainable spaces, but now understood the pragmatism of it. So more spaces that sell art, that invite collectors in and that give artists an opportunity to be sustainable and profitable. The space in the hotel was quite limited; a lot of people are very shy of coming into a five star hotel. So before, where we had been working more on content and narrative, now the idea of growth and even of profit, for growth, came into play. What are your plans for this space? It will be an exhibition space for exhibitions, performances and screenings, but it will also be a space for the creative community in Ghana to get together. So there is a library and a research centre. There will be lectures and workshops as well....

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Chicago Area Museums: Recent Acquisitions…

Representatives from three top Chicago area museums recently shared with Art Media Agency details of their recent acquisitions. The historical and stylistic range demonstrates a continued high level of commitment to strengthening the permanent collections of the city’s vital art institutions. Founded in 1879, The Art Institute of Chicago (AIC) is one of the most important and visited art institutions in the world. Their permanent collection includes more than 300,000 objects and represents every historical period, nationality and culture. The newest addition to the museum came in 2009, with the creation of its Modern Wing, which enhanced the institution with 264,000 square feet of exhibition space and educational facilities and features state-of-the-art green technology. The Art Institute of Chicago is supported through donations and admission fees, though special free admission times are frequent, and include free admission Thursday evenings from 5:00 to 8:00 pm year round to residents of the State of Illinois. The Art Institute of Chicago has acquired Christ Carrying the Cross, by the 16th Century Italian painter Sebastiano del Piombo. The painting was only recently rediscovered, and was brought to the attention of the AIC by London-based art gallery Colnaghi, who facilitated the transfer of the painting to the museum. “We couldn’t be more thrilled to have this rare and wonderful opportunity to bring such an important painting—our first by Sebastiano—into the Art Institute’s permanent collection,” said Gloria Groom, David and Mary Winton Green Curator and Chair of European Painting and Sculpture for the AIC. Sebastiano del Piombo is notable as one of the only major painters of the High Renaissance to combine the Venetian School’s focus on color with the Mannerist’s exaggeration of proportions. As a result his work was hailed for its ability to evoke a monumental, heroic elegance while still attaining the more...

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Fair play

There are plenty of art events on in Paris this March: five remarkable fairs and exhibitions a gogo. Everything you need to plan an enthralling itinerary, with stops dedicated to drawing, contemporary African art and design… Are you ready for a suite of springtime fairs? From 30 March to 2 April… It’s THE must event: Art Paris Art Fair, this year welcoming 139 galleries from 29 countries. Half of the exhibitors are from overseas, and the fair has attracted many new faces this year, with 50 % of the participants being new galleries. An unmissable gathering for the art world and the general public, this fair, held at the Grand Palais, allows visitors to discover what’s happening in the art world with an ever-savvy focus on overseas scenes. This year, its general curator, Guillaume Piens, is backed up by exhibition curator and cultural consultant Marie-Ann Yemsi (also to curate the next Bamako Encounters), who has helped to select top galleries from the African continent – including the Maghreb – and its diaspora, most of which are exhibiting for the first time in France at the event. Amongst the twenty or so galleries singled out for this African focus, a few come from very diverse horizons: Uganda is present via the Afriart Gallery from Kampala; there’s also Nigeria, with Art Twenty One based in Lagos; the Ivory Coast is represented by the Fondation Charles Donwahi from Abidjan; not forgetting South Africa, with Whatiftheworld Gallery from Cape Town. The October Gallery from London, representing El Anatsui in particular, and Parisian gallery Magnin-A, namely exhibiting Chéri Samba, present great classics in modern and contemporary African art. Also of note: the solo show accorded to South African artist Kendell Geers by Barcelona-based ADN Galeria. Emerging African creation is also represented by stands in...

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