Our columnist returns from his second life as an NFT artist to deliver some primo intel from Art Basel, the art market, and the thunderous crypto crash.
at Christie’s May contemporary evening sale for $12,412,500 was former oil trader Andy Hall in partnership with private dealer Nicolai Frahm. The skeleton, nicknamed Hector for some odd reason, had previously graced the home of Hall after having been bought by the pair for $1 million; not a bad return for an old set of bones. Which corroborates the notion that auction houses will sell a dirty pair of underwear in an art sale if the price warrants it.
NFTism was over before it started, so I have to get a new tattoo. Community and empowerment was replaced by scams and cash-grabs. Courtesy of Kenny Schachter. But let’s go back to Basel, where a famous Russian TV presenter tried to pay for art at a friend of mine’s gallery in rubles— the only currency worth less than crypto at the moment. Which reminds me of something the 1950s-era NASCAR racer Junior Johnson said: “The best way to make a small fortune in racing is to start with a big one.” The same could be said today buying and selling art and NFTs.
Going, going… not going anywhere. One of the many dead-on-arrival Rudolf Stingels, this one on hand at Luxembourg + Co., awaiting a certain Mr. Philbrick’s return from prison to relaunch the market. Courtesy of Kenny Schachter. On the other hand, the most generous act on record throughout the fair proceedings was courtesy of Dusseldorf’s Sies + Höke Gallery, which complied with my request to put a Sigmar Polke from his masterful 1970s photo series shot in Pakistan and Afghanistan on hold for a whopping six months—probably wishful thinking on my part after I spent my mortgage money on another Polke work on paper from 1978 from San Francisco’s Anthony Meier, a Cosima von Bonin sculpture from Berlin’s Galerie Neu, a...
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