ArtBasel

Brad Pitt Spends $1 Million At Art Basel

My colleague Tom Johansmeyer mentioned the other day that the Art Basel exhibit in Switzerland was bracing for a slump but the art affair has had a boost from a celebrity buyer. Brad Pitt caused a stir when he showed up to check out the exhibits and spent $1 million on a new artwork to add to his collection. He bought Neo Rauch's 9-foot rainbow-coloured racetrack painting Etappe which shows a driver behind a red, Formula One-style race-car. Pitt was in good company, he was seen with billionaire art collector Eli Broad. In fact, the Daily Mail reports that Broad encouraged Pitt to buy the painting telling him that if he didn't buy it than Broad and his wite Edythe would. Also seen at the exhibition were Russian billionaire Roman Abramovich and his girlfriend Daria Zhukova, designer Karl Lagerfeld and model Naomi Campbell.

Source

Tags: art basel, ArtBasel, brad pitt, BradPitt, eli broad, EliBroad, karl lagerfeld, KarlLagerfeld, neo rauch, NeoRauch

Art Basel Braces for Slump

by Tom Johansmeyer (RSS feed) —

Filed under: Art

The major pieces that typically define Art Basel, the world's largest art fair, are being eschewed last year in response to the largest art market plunge in nearly 20 years. If you're hoping to see the likes of Andy Warhol's work at the show in Switzerland this year, you'll have to hunt. The show opens to VIP visitors today, but you won't see much up-market art in attendance among the 300 galleries and 2,500 artists represented.

Galleries and dealers are being realistic. Average auction prices fell 76.2 percent from May 2008 to the present, according to ArtTactic, a London-based company that analyzes the market. The unexpected $93.7 million result at the Christie's contemporary art auction in May was based on lowered expectations, tainting the success. Consequently, the art on display is generally "priced to sell." A small 1964 Warhol silkscreen self-portrait is being offered for $675,000, though it would have been put up for a $1 million last year. Effectively, prices have returned to 2005 levels.

Of course, a lucky few will be able to take care of the "shadow fair" that's likely to emerge at Art Basel this year. While some will be stuck working the booths, others will strike private deals, usually involving pieces offered on consignment from collectors.

Source

Tags: andy warhol, AndyWarhol, art, art basel, art market, ArtBasel, ArtMarket, artwork, basel, switzerland, warhol

Swiss Bank Drops Art Banking Services

by Deidre Woollard (RSS feed) —

Filed under: Art, Wealth

Swiss bank UBS has announced that it is closing its "art banking" department. The department provided wealthy clients with research on prices and artists as well as advice on the practical concerns of a collection such as transport, storage and restoration. The department was created in 1998 and thrived as the art market expanded.

UBS has lost billions linked to bad debt and the Swiss government has provided the bank with a huge bailout. UBS will still offer gold and coin services as part of their business and the company will continue its sponsorship of the Art Basel contemporary-art fair which they are contracted to do through 2011.

Tags: art banking, art basel, ArtBanking, ArtBasel, ubs

Cartier's Bejeweled Plans For Art Basel

by Deidre Woollard (RSS feed) —

Filed under: Jewelry, Events

Given the recent lackluster art auctions, people are understandably wary about the Art Basel Miami Beach show next month but the warm weather art event still hopes to attract the wealthy. As the Wall Street Journal reports, Cartier, which is the only jewelry sponsor of the event, will debut two jewelry collections, a high jewelry collection with tasseled pieces using sapphires and red spinels and Hypnose, an Art Deco-inspired line of black and white rings, pendants, bracelets and drop earrings. The collections will be displayed at the fair inside the Cartier Dome, which will feature a new visual installation, Diamonds, Gold and Dreams created by the filmmaker David Lynch, from Dec. 3 through Dec. 7. The piece includes a seven-minute "floating diamond" projection that will be displayed each hour accompanied by a musical score in an atmosphere that includes golden-fabric walls, gold-printed carpeting, gold trimmed display cases, an ornate curved display case for thePatiala necklace, and gold-accented furniture with reflective glass tops. The jewelry pieces will arrive in Cartier boutiques in March.

Source

Tags: art basel, ArtBasel, cartier, david lynch, DavidLynch, jewelry

Baas for Champagne Ruinart $100,000 Centerpiece

by Jared Paul Stern (RSS feed) —

Filed under: Wine, Art

At Art Basel Miami Beach next month, renowned French champagne house Ruinart will offer a one-of-a-kind surrealistic sculpture by Dutch artist Martin Baas. Designed as the ultimate centerpiece for a champagne-lover's table, the artwork (detail above) was inspired by an elaborate 18th century Venetian chandelier. Constructed from clear Murano glass and silver, the piece was designed to appear as if a chandelier has fallen from above and is melting into the table, along with bottles of Dom Ruinart and specially designed flutes. The piece will be offered for sale at $100,000.

"Maarten's piece is all at once elegant, complex, delicate and powerful," says Ruinart's Jean Christophe Laizeau. "It is the perfect physical representation of the Dom Ruinart universe. We could not have collaborated with a more innovative and inspiring artist to express the stirring sensory experience of vertigo." Founded by Nicholas Ruinart in Reims in 1792, Ruinart was introduced to the U.S. in 1831 by Viscount Edmond Ruinart, and has been a favorite of conoisseurs ever since.

Tags: Art Basel, ArtBasel, Champagne, Chandelier, France, Martin Baas, MartinBaas, Ruinart

Ruby Slippers To Benefit Elizabeth Glaser Pediatric AIDS Foundation

by Tracy Chait (RSS feed) —

Filed under: Auctions, Shoes, Charity, Children

Nineteen to-covet designers including Oscar de la Renta, Manolo Blahnik, Alberta Ferretti and Christian Louboutin are teaming up with Warner Brothers and Swarovski to reinvent Dorothy's ruby slippers to commemorate the 70th anniversary of The Wizard of Oz. This time, we're not in Kansas anymore. Based on some of the designer sketches we've seen, we're talking Swarovski-fied, ruby red protect-me-from-the-evil-witch stilettos. Basically what sweet little Anne Hathaway could have used in The Devil Wears Prada.

Each designer will craft a mere two pairs, and the shoes will make their debut September 4 during New York Fashion Week, posing in Saks Fifth Avenue's window before moving on to Miami's Art Basel and further appearances throughout 2009. The iconic slippers will then be auctioned off with proceeds going to the Elizabeth Glaser Pediatric AIDS Foundation.

Tags: alberta ferretti, AlbertaFerretti, art basel, ArtBasel, auction, dorothy, elizabeth glaser ped..., ElizabethGlaserPed..., louboutin, manolo blahnik, ManoloBlahnik, oscar de la renta, OscarDeLaRenta, saks fifth avenue, SaksFifthAvenue, shoes, wizard of oz, WizardOfOz

Join Luxist on Facebook!

Luxist bloggers (30 days)

#	Blogger	Posts	Cmts
1	Deidre Woollard	184	3
2	Jared Paul Stern	53	0
3	Ariel Adams	43	0
4	Tom Johansmeyer	36	0
5	Carrie Coolidge	32	0
6	Rigel Celeste	30	0
7	Lisa Palladino	26	1
8	Annie Scott	23	5
9	Jeremy Korzeniewski	18	0
10	Noah Joseph	18	0
11	Deb West	11	0
12	Alison Wellner	9	0
13	Jonathon Ramsey	9	0
14	Ariston Anderson	8	0
15	Brendan Cleary	5	0
16	Kristin Young	4	0
17	Amanda Gordon	2	0
18	Marsha Reid	2	0
19	Dan Roth	1	0
20	Sam Abuelsamid	1	0