[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$9ZijusqCES":3},{"single":4,"locales":184,"slices":186},{"id":5,"uid":6,"url":7,"type":8,"href":9,"tags":10,"first_publication_date":12,"last_publication_date":13,"slugs":14,"linked_documents":15,"lang":16,"alternate_languages":17,"data":18},"ZCq3_RAAACMA8eXk","the-pain-of-rising-interest-rates",null,"article","https:\u002F\u002Fartexplorer-prod.cdn.prismic.io\u002Fapi\u002Fv2\u002Fdocuments\u002Fsearch?ref=aCb60BIAACEA00zN&q=%5B%5B%3Ad+%3D+at%28document.id%2C+%22ZCq3_RAAACMA8eXk%22%29+%5D%5D",[11],"Art Investment","2023-04-04T11:07:33+0000","2023-07-26T13:50:18+0000",[6],[],"en-gb",[],{"title":19,"subtitle":20,"author":21,"copyright_cover":7,"cover_desktop":69,"cover_mobile":77,"thumbnail":83,"published_at":7,"slices":86,"meta_title":19,"meta_description":131,"og_image":132,"slices2":140},"The pain of rising interest rates","How are art and other assets being affected by the current economic climate?",{"id":22,"type":23,"tags":24,"lang":16,"slug":26,"first_publication_date":27,"last_publication_date":28,"uid":26,"data":29,"link_type":66,"key":67,"isBroken":68},"ZBB4GBAAACgAzS2z","author",[25],"Robert Budden","robert-budden","2023-03-14T13:35:25+0000","2023-07-10T00:56:54+0000",{"description":30,"short_description":41,"job":45,"thumbnail":46,"cover":56,"uid":26,"title":25,"og_image":59,"meta_description":62,"meta_title":25},[31,35,38],{"type":32,"text":33,"spans":34},"paragraph","Robert Budden is ArtExplored's Art Market Editor. He is a financial journalist with expertise in personal finance and investment. He spent most of his journalistic career writing for the Financial Times where he held a number of roles including Deputy Markets Editor, Personal Finance Editor and Chief Media Correspondent. ",[],{"type":32,"text":36,"spans":37},"He has written extensively on many areas of personal finance and investment from hedge funds and mutual funds to stocks and shares, junk bonds and financial market instruments as well as alternative investments such as wine.",[],{"type":32,"text":39,"spans":40},"He has won around a dozen awards for journalism including Pensions Journalist of the Year (Business Journalist of the Year Awards), Investment Trust Journalist of the Year (Association of Investment Companies) and Pensions and Investment Journalist of the Year (Aon). He has frequently appeared on TV and radio for a number of  broadcasters including CNN, CNBC, Sky News and the BBC.",[],[42],{"type":32,"text":43,"spans":44},"Robert Budden covers the financial and art market for ArtExplored. ",[],"Art Market Editor",{"dimensions":47,"alt":25,"copyright":7,"url":50,"id":51,"edit":52},{"width":48,"height":49},2291,2446,"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002Ff845a770-a008-44c8-9879-c9f3b0b5e52a_Robert+Budden.jpg?auto=compress,format","ZIsQqxAAACEAs6bQ",{"x":53,"y":53,"zoom":54,"background":55},0,1,"#fff",{"dimensions":57,"alt":25,"copyright":7,"url":50,"id":51,"edit":58},{"width":48,"height":49},{"x":53,"y":53,"zoom":54,"background":55},{"dimensions":60,"alt":25,"copyright":25,"url":50,"id":51,"edit":61},{"width":48,"height":49},{"x":53,"y":53,"zoom":54,"background":55},[63],{"type":32,"text":64,"spans":65},"Robert Budden is a finance and art markets writer at ArtExplored",[],"Document","9198029d-22f1-4ed8-a8d0-b0a617180d7c",false,{"dimensions":70,"alt":73,"copyright":73,"url":74,"id":75,"edit":76},{"width":71,"height":72},3840,2160,"Woman Holding a Balance, c. 1664\u002F Johannes Vermeer","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002Fa5e5b65e-ff6b-4325-819a-71d67cbba630_Slide+16_9+-+79+%282%29.jpg?auto=compress,format","ZGHvmhEAACUApPmY",{"x":53,"y":53,"zoom":54,"background":55},{"dimensions":78,"alt":73,"copyright":79,"url":80,"id":81,"edit":82},{"width":72,"height":71},"National Gallery of Art","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F56538155-2209-41ba-a6be-daea07942cea_9_16.jpg?auto=compress,format","ZC12aBAAACIA9n5Z",{"x":53,"y":53,"zoom":54,"background":55},{"dimensions":84,"alt":73,"copyright":79,"url":80,"id":81,"edit":85},{"width":72,"height":71},{"x":53,"y":53,"zoom":54,"background":55},[87,103],{"variation":88,"version":89,"items":90,"primary":92,"id":101,"slice_type":102,"slice_label":7},"default-slice","sktwi1xtmkfgx8626",[91],{},{"title":93,"content":94},[],[95,98],{"type":32,"text":96,"spans":97},"Global supply chains are yet to normal following the Covid pandemic with an ensuing scarcity of key products and components driving up costs. Meanwhile, the war in Ukraine has hit energy and food prices. The combined result has been rocketing inflation reaching heights in Western economies not seen since the 1980s. Consumers and businesses have been feeling the pain. \n\nInvestors have been suffering too as central banks have reacted with the fastest tightening cycle in decades. Although some feel they could have acted more swiftly and decisively, central banks around the globe have been hiking interest rates at an aggressive pace as they seek to stave off inflation amid fears it could become embedded. By raising rates, central banks hope to discourage investment and spending and thereby dampen economic growth and, crucially, inflation. \n\nIn little over a year, the Federal Reserve – the US central bank – has raised interest rates from close to zero to a current range of between 5% and 5.25%, the highest since 2007. Over a similar timeframe, the European Central Bank increased its main interest rate from -0.5% to 3.5%, the fastest tightening since the creation of the single currency. The Bank of England's interest rate currently stands at 5% from just 0.25% at the end of 2021. Markets are pricing in more hikes before the year end. \n\nAt the same time, with the exception of Japan, the last of the remaining quantitative easing programmes – where central banks print money to underpin flagging economies – have been all but reversed, thereby removing another vital support to bond and equity markets.  \n\nThe burning question for investors now is when the current tightening cycle will come to an end as cuts in rates are usually accompanied by a rally in equity and bond markets. Falling rates could also prove supportive for art markets as lower rates could encourage collectors to move money out of their savings and into art and collectables. \n\nClouding the outlook are risks in the banking sector (an argument for holding off on further rate rises or even for cutting rates) and inflation which is receding more slowly than hoped in some Western economies (an argument for hiking rates).  ",[],{"type":32,"text":99,"spans":100},"",[],"text$a5d537f4-f765-4154-a3b5-30cca263458c","text",{"variation":88,"version":89,"items":104,"primary":106,"id":130,"slice_type":102,"slice_label":7},[105],{},{"title":107,"content":108},[],[109,128],{"type":32,"text":110,"spans":111},"While some further interest rate rises are certainly likely – particularly as not all central banks are at the same stage in their hiking cycles – most analysts believe interest rates are now at or close to their peaks. Following banking turmoil in the US and Switzerland, investors trimmed their expectations for global interest rate rises with interest rate swaps briefly indicating that many of the world’s major central banks will not raise rates further. In some cases, swap rates indicated that central banks will begin cutting rates before the year end. Since then, amid signs that inflation is proving more stubborn, markets have begun pricing in further rate rises this year.  \n\nBelow we look at key investment asset classes showing how they have performed in the current tightening cycle and how they might be impacted by future interest rate decisions.'\n\nArt and collectables \n\nMost art dealers and advisers do not believe the art market is too affected by interest rates. But when rates climb to very high levels, like in the late 1980s when Bank of England base rates touched 15%, this can affect sentiment as some investors and collectors instead choose to put their money in the bank. \n\nRates have climbed rapidly – albeit from very low levels – in recent months. But investors looking for clear signs that the art and collectables markets were impacted will be disappointed. \n\nLast year was characterised by auctions of a number of single-owner collections, including works by Microsoft founder Paul Allen and US investor Anne Bass. Such single-owner sales at Christie’s, Sotheby’s and Phillips totalled almost $2.7bn in 2022, a five-year high. Total sales of fine art reached $15.9bn in 2022, according to Artnet, down slightly against 2021 but still the second-highest total since 2018.  \n\nThe Knight Frank Luxury Investment index, which covers art and collectables such as cars, watches, and wine, rose 16% in 2022, led by art up 29% and followed by cars 25% higher. Such performance strongly supports the theory that art is a store of value during uncertain financial markets. \n\nWith rates likely to stabilise towards the end of 2023, the interest rate environment is unlikely to influence art markets much. Of far greater importance will be geopolitical concerns and the economic outlook.\n\nEquities \n\nSince the beginning of 2022, the approximate start of the current tightening cycle, to the end of April 2023, the FTSE All World index of global stocks is around 13% lower. Last year, US stocks had their worst year since 2008 with the S&P 500 basket of leading stocks down over 19% and the tech-heavy Nasdaq index down a third. Geopolitical concerns and fears of recession clearly weighed on stocks. But rising interest rates also played a major role – particularly for growth companies like tech stocks – as their valuations using discounted cash flow models are particularly sensitive to interest rates. \n\nGoing forward, from the protracted war in Ukraine to possible – albeit receding – risks of recession, perils remain for stocks and shares. But with inflation expected to continue to fall and pivots from major central banks on the horizon, there is reason to hope that stock market volatility will be significantly lower in 2023.\n\nBonds\n\nDuring a period of rapidly rising interest rates, it is hardly surprising that bond investors have been hammered. Over 2022, the FTSE World Government Bond index, consisting of the sovereign debt of over 20 countries including the US, Japan, and the UK, fell over 18%. In reaction to rising interest rates, yields on benchmark 10-year US Treasury bonds have climbed from around 1.5% to over 3.65% in the 16 months to mid-May 2023. For holders of these bonds, this has meant losses as when bond yields rise their capital values fall.  \n\nAccording to Edward McQuarrie, an investment historian and professor emeritus at Santa Clara University, last year was the worst year on record for the US bond market, reflecting in great part the speed and depth of rate rises. Unusually, bonds and equities fell in unison, a rare occurrence that has only been witnessed 2% of the time since 1926, according to Goldman Sachs.\n\nToday’s higher bond yields provide investors with a bigger buffer to absorb any further interest rate increases. With possible rate cuts in sight, 10-year benchmark bond yields could actually fall over 2023, providing modest gains for bond investors. What is almost certain, is that the worst for bond investors is now behind us. \n\nProperty \n\nInterest rate rises are generally not good for property returns as the majority of property purchases are funded by debt. Rising borrowing costs deter new investors, in turn driving down prices.\n\nYet rising rates are not always bad news as they are frequently accompanied by strong economic growth and low unemployment, both positive factors for property prices and rents. It’s just that, over this last year, rate rises have coincided with a deteriorating economic outlook, a bad recipe for the sector. \n\nOver 2022 the FTSE Nareit All Equity REITs index, which covers US commercial real estate, posted a total return of -24.9%. UK property fell 10.4% last year according to MSCI’s monthly UK property index, with most of the declines coming in the second half of the year as interest rate rises started to bite. Even so, it was still possible to make money from property in 2022 and returns varied widely with commercial offices amongst the worst hit. \n\nFew are predicting a strong rebound in property prices this year. But with interest rates expected to level off, some stability should return to the property market in 2023.  ",[112,116,119,122,125],{"start":113,"end":114,"type":115},866,889,"strong",{"start":117,"end":118,"type":115},2311,2322,{"start":120,"end":121,"type":115},2928,2930,{"start":123,"end":124,"type":115},3260,3267,{"start":126,"end":127,"type":115},4512,4523,{"type":32,"text":99,"spans":129},[],"text$29448cfe-65cb-41d9-9bb6-314c94adabf3","As central banks have hiked interest rates, how are the main asset classes - including also art and collectables - faring and what lies in store with the future direction of interest rates?",{"dimensions":133,"alt":136,"copyright":7,"url":137,"id":138,"edit":139},{"width":134,"height":135},2400,1200,"Woman Holding a Balance, c. 1664\u002F Johannes Vermeer \u002F The pain of rising interest rates \u002F  Article : Art investment ","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F77aa07c5-e2af-4453-8e18-b880701537e5_Image+Opengraph+The+pain+of+rising+interest+rates.jpg?auto=compress,format","ZK_8txIAACEAahhj",{"x":53,"y":53,"zoom":54,"background":55},[141,177],{"variation":88,"version":89,"items":142,"primary":170,"id":175,"slice_type":176,"slice_label":7},[143,152,160],{"post":144},{"id":145,"type":8,"tags":146,"lang":16,"slug":147,"first_publication_date":148,"last_publication_date":149,"uid":150,"link_type":66,"key":151,"isBroken":68},"ZBmiNxEAACUAZCbn",[11],"is-art-a-sound-investment","2023-03-21T12:40:31+0000","2024-02-12T16:32:00+0000","investment-art-market-assets-painting","19004f64-c274-47e7-b81c-63c748de371f",{"post":153},{"id":154,"type":8,"tags":155,"lang":16,"slug":156,"first_publication_date":157,"last_publication_date":158,"uid":156,"link_type":66,"key":159,"isBroken":68},"ZBmoCREAACIAZDGt",[11],"the-art-of-diversification","2023-03-21T12:52:11+0000","2024-02-12T16:32:14+0000","d5344a21-6661-4e2b-928c-748692754a55",{"post":161},{"id":162,"type":8,"tags":163,"lang":16,"slug":165,"first_publication_date":166,"last_publication_date":167,"uid":168,"link_type":66,"key":169,"isBroken":68},"ZAhxkRAAACkAvx0D",[164],"Amedeo Modigliani","amedeo-modigliani-through-the-microscope","2023-03-08T15:49:55+0000","2023-07-13T14:21:18+0000","amadeo-modigliani-a-century-of-enigma","ca8c55d1-db5c-4eb8-a05c-7a37563fe2d3",{"slides_per_view":171,"max_slides_count":171,"tag":172,"type":173,"title":174,"paralax":7},3,{"link_type":66},"*","Read more","carousel$abfa6941-f26c-43d1-812f-9c8e25bcd803","carousel",{"variation":88,"version":89,"items":178,"primary":179,"id":183,"slice_type":176,"slice_label":7},[],{"slides_per_view":7,"max_slides_count":7,"tag":180,"type":181,"title":182,"paralax":7},{"link_type":66},"podcast","Listen to audiocasts","carousel$2492f3a6-546a-409e-902f-d3b2d002164a",{"en":185},{"slug":6},[187,1854],{"slice":141,"payload":188},[189,371,482,809,901,965,1355,1583,1691],{"id":145,"uid":150,"url":7,"type":8,"href":190,"tags":191,"first_publication_date":148,"last_publication_date":149,"slugs":192,"linked_documents":195,"lang":16,"alternate_languages":196,"data":197},"https:\u002F\u002Fartexplorer-prod.cdn.prismic.io\u002Fapi\u002Fv2\u002Fdocuments\u002Fsearch?ref=aCb60BIAACEA00zN&q=%5B%5B%3Ad+%3D+at%28document.id%2C+%22ZBmiNxEAACUAZCbn%22%29+%5D%5D",[11],[147,193,194],"buying-art-is-often-a-highly-emotional-affair-but-how-does-it-stack-up-against-other-more-traditional-markets-when-it-comes-to-returns","buying-art-is-often-a-highly-emotional-affair-but-how-does-it-stack-up-against-other-more-traditional-markets-when-it-comes-to-returns-artexplorer-investigates.",[],[],{"title":198,"subtitle":199,"author":200,"copyright_cover":7,"cover_desktop":226,"cover_mobile":234,"thumbnail":239,"published_at":7,"slices":242,"meta_title":327,"meta_description":328,"og_image":329,"slices2":335},"Is art a sound investment?","Buying the right painting and sitting on it can be very fruitful",{"id":22,"type":23,"tags":201,"lang":16,"slug":26,"first_publication_date":27,"last_publication_date":28,"uid":26,"data":202,"link_type":66,"key":225,"isBroken":68},[25],{"description":203,"short_description":210,"job":45,"thumbnail":213,"cover":216,"uid":26,"title":25,"og_image":219,"meta_description":222,"meta_title":25},[204,206,208],{"type":32,"text":33,"spans":205},[],{"type":32,"text":36,"spans":207},[],{"type":32,"text":39,"spans":209},[],[211],{"type":32,"text":43,"spans":212},[],{"dimensions":214,"alt":25,"copyright":7,"url":50,"id":51,"edit":215},{"width":48,"height":49},{"x":53,"y":53,"zoom":54,"background":55},{"dimensions":217,"alt":25,"copyright":7,"url":50,"id":51,"edit":218},{"width":48,"height":49},{"x":53,"y":53,"zoom":54,"background":55},{"dimensions":220,"alt":25,"copyright":25,"url":50,"id":51,"edit":221},{"width":48,"height":49},{"x":53,"y":53,"zoom":54,"background":55},[223],{"type":32,"text":64,"spans":224},[],"b1a2d00d-8d15-4040-b3f6-48583ba60f43",{"dimensions":227,"alt":230,"copyright":7,"url":231,"id":232,"edit":233},{"width":228,"height":229},2881,1621,"Massysm Quentin — The Moneylender and his Wife","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F6cb95598-e3af-4c20-ae64-d8f7775dda0f_Slide+16_9+-+85.jpg?auto=compress,format","ZJq2chEAACIAroje",{"x":53,"y":53,"zoom":54,"background":55},{"dimensions":235,"alt":230,"copyright":230,"url":236,"id":237,"edit":238},{"width":72,"height":71},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002Fa6363f49-781b-40dc-9173-db3c111bbcd8_9_16.jpg?auto=compress,format","ZJq19hEAACEAroa_",{"x":53,"y":53,"zoom":54,"background":55},{"dimensions":240,"alt":230,"copyright":230,"url":236,"id":237,"edit":241},{"width":72,"height":71},{"x":53,"y":53,"zoom":54,"background":55},[243,279,289,299,308,320],{"variation":88,"version":89,"items":244,"primary":246,"id":278,"slice_type":102,"slice_label":7},[245],{},{"title":247,"content":252},[248],{"type":249,"text":250,"spans":251},"heading1"," ",[],[253],{"type":32,"text":254,"spans":255},"It is the sort of gain most investors only dream of. The sale at Sotheby’s in 2017 of Untitled by Jean-Michel Basquiat for $110.5m marked a record for a post-1980 painting by an American artist at the time. Bought for \"just\" $19,000 in 1984, the sale price delivered its owner impressive profits - equating to a compound annual return (before costs) of about 30%. The world’s best-paid hedge fund managers would be immensely proud of that performance.\n\nSuch returns are by no means unique in the art world: some savvy collectors who bought works from the likes of Andy Warhol or David Hockney at the right time will also be sitting on huge gains. Art advisers have many of their own stories about clients who purchased artworks that have increased in value considerably, sometimes over a period of just a few years. \n\nSo, does art make sense as an investment and how has the wider art market performed? \n\nA number of art indices including Sotheby’s Mei Moses, Artprice, and Artnet capture data from multiple sources. Over the 15 years between 2005 and 2020, the Artnet Index for Fine Art produced a compound annual growth rate of 4.9%, against 7.6% (excluding dividends) for the S&P 500, the leading basket of US stocks. ",[256,260,270],{"start":257,"end":258,"type":259},86,94,"em",{"start":261,"end":262,"type":263,"data":264},564,576,"hyperlink",{"id":265,"type":266,"tags":267,"lang":16,"slug":268,"first_publication_date":269,"last_publication_date":269,"link_type":66,"isBroken":68},"ZK0tLxEAACEAdnWz","definition",[],"andy-warhol","2023-07-11T10:21:41+0000",{"start":271,"end":272,"type":263,"data":273},579,592,{"id":274,"type":266,"tags":275,"lang":16,"slug":276,"first_publication_date":277,"last_publication_date":277,"link_type":66,"isBroken":68},"ZK0uhhEAACMAdnxa",[],"david-hockney","2023-07-11T10:27:29+0000","text$1bdd61da-7e86-40cd-a086-e0b1d9c8e77c",{"variation":88,"version":89,"items":280,"primary":282,"id":287,"slice_type":288,"slice_label":7},[281],{},{"quote":283},[284],{"type":32,"text":285,"spans":286},"\"You can’t just go out and pay $50,000 for 10 contemporary artists with no history, no secondary market, and no institutional representation and expect to do well. Randomised spending sprees increase the risk of negative performance enormously.\"",[],"quote$63a4a947-8dd2-4b3b-b41b-73029c75031d","quote",{"variation":88,"version":89,"items":290,"primary":292,"id":298,"slice_type":102,"slice_label":7},[291],{},{"title":293,"content":294},[],[295],{"type":32,"text":296,"spans":297},"Over 2022, as inflation and interest rates climbed and stock markets plummeted, the broad Global Artprice index fell 18%. However, the Artprice100 index of leading artists was up 3% in 2022, supporting the dictum that blue chip art is a relative safe haven.\n\nBut how reliable are these numbers? Art advisers urge caution. Art indices only track publicly available data – essentially prices from auctions – immediately cutting out the more opaque private market, which typically accounts for about half of all sales. Indices also only record price changes from artworks that have sold more than once. This limits their accuracy still further by excluding the vast majority of auction transactions – sale debuts, say art advisers. \n\n“You need to look at these indices with a pinch of salt,” says Laurent Issaurat, head of Art Banking Services at Société Générale. “They reflect only a very limited portion of the art market [lots that sell twice or more at auction], don’t include transaction costs and only show the winners in the race. The losers are forgotten. If there is no bidder in the room then an artwork is burned and this is not taken into account [in the indices] at all.” \n\nSuch so-called “survivorship bias” means that indices have a tendency to flatter investment performance. In terms of transaction costs, Philip Hoffman, founder of the Fine Art Group and a former deputy CEO at Christie’s, estimates the typical auction spread between buyer and seller can be as much as 37%.\n\nDespite these limitations, however – if used carefully – art indices can still prove valuable tools, for example, when negotiating purchases or identifying trends, say art specialists. \n\nFor a better guide to long-term art performance, Adriano de Picinati di Torcello, global art and finance coordinator at Deloitte, points to academic studies. One, published in 2011 by Elroy Dimson and Christophe Spaenjers, tracked the performance of the art collection of renowned economist John Maynard Keynes from 1900 to 2010. \n\nThe collection, containing works by major blue chips such as Picasso and Matisse, delivered a respectable real return (after allowing for inflation) of 2.4% a year over the period, comfortably ahead of government bonds and not far behind the total return on stocks and shares. Another paper by Christophe Spaenjers found art returned an impressive 4% a year between 1951 and 2007, again after inflation. \n\nThese are numbers that many long-term investors would be pretty happy with. The challenge, say art advisers, is achieving them as the art market is very diverse ranging from Old Masters to Contemporary and from low to high-end. All can have very different performance profiles.\n\n\"You can’t just go out and pay $50,000 for 10 contemporary artists with no history, no secondary market and no institutional representation and expect to do well. Randomised spending sprees increase the risk of negative performance enormously,” says Eugénie Dumont, art collections manager at Belgian private bank Degroof Petercam. “You need to purchase astutely and put together a collection carefully, based on your taste, your budget and its ultimate purpose while keeping in mind a long-term strategy.”\n\nThere are other points to consider too. While stocks and shares tend to pay dividends, art does not. Instead, there is a cost of ownership of art which includes insurance, maintenance and possibly storage for example. These costs can run from “well under 1%” per annum [of the value of the painting] for \"plain vanilla\" artworks requiring very little maintenance, according to Dumont, to much more for valuable and fragile pieces requiring a specific conservation environment, as well as historical discoveries where provenance and authenticity must be proven.\n",[],"text$855ac36b-1f02-44fb-9321-0d6fb003a622",{"variation":88,"version":89,"items":300,"primary":302,"id":307,"slice_type":288,"slice_label":7},[301],{},{"quote":303},[304],{"type":32,"text":305,"spans":306},"“During Covid art held much of its value. It wasn’t demand that dropped dramatically it was more that, in a very uncertain market, sellers would stop selling.”",[],"quote$2097a3b3-3dde-4bce-bc35-28624f8dbc43",{"variation":88,"version":89,"items":309,"primary":311,"id":319,"slice_type":102,"slice_label":7},[310],{},{"title":312,"content":315},[313],{"type":249,"text":99,"spans":314},[],[316],{"type":32,"text":317,"spans":318},"Artworks are also much less liquid than other mainstream investments such as stocks or bonds, meaning they can be complicated and time-consuming to sell. \n\n“Although I have done deals in a day or even in an hour, the average sale probably takes three years,” says the Fine Art Group’s Hoffman, reflecting the time it takes to find the right buyer.\n\nBut there are clear attractions of art as an asset too. If chosen carefully, art has proven a long-term store of value and a good hedge against inflation. Over a 22-year holding period, the British Rail pension fund’s foray into art investments in the 1970s delivered a healthy 13.1% annual investment return (almost 6% after inflation), boosted by timely purchases and disposals. Astutely, the fund sold works by Renoir and Cezanne in 1989 ahead of the sharp correction in the Impressionist art market of the early 1990s. \n\nArt also has a relatively low correlation to mainstream investments like equities, meaning that when stocks and shares are falling, some art investments can hold their value.\n\nWhile this was not really the case during the 2008 financial crisis – the S&P 500 index, the US stock market index, fell about 50% from peak to trough and art sales and prices similarly collapsed during this period – art investments did perform better than equities as the Covid pandemic took hold.\n\n“During Covid art held much of its value,” says Société Générale’s Issaurat. “It wasn’t demand that dropped dramatically it was more that, in a very uncertain market, sellers would stop selling.”\n\nIssaurat adds that because many collectors often hold up to 5% to 15% or so of their overall wealth in art, they don’t have to be forced sellers. In the event that they desperately need cash, most collectors have other – more liquid – assets they can sell first, helping underpin art prices in a downturn.\n\nThis is not to say that the art markets are immune from global economic events. Far from it. Art prices were boosted by quantitative easing as central banks pumped more money into the global economy, say art experts. Rising interest rates have in the past also dampened sentiment in the art markets.\n\n“I was running Christie’s when [interest rates] hit 15% and that crucified the art market,” recalls the Fine Art Group’s Hoffman. “Everybody said ‘Let’s put $10m on deposit and we get $1.5m of interest a year without doing anything’.” \n\nHe thinks a tipping point for the art market might be if interest rates in Western economies start to climb above 8% – still some way above current levels.\n\nTrends currently affecting art prices, according to Kristiane Backer, founder of fine art consultancy Baraka Consultants, include the war in Ukraine and the reopening of China after Covid. “Russian buyers are no longer there but the Chinese seem to be coming back so, for the moment, the art market remains strong,” she says. \n\nIn recent years Backer says she has seen growing numbers of buyers turn to art for investment reasons. \n\n“Art is definitely worth considering if you want to diversify your portfolio,” she says. “But take good advice to buy well and, above all, buy what you like and love.”\n\nMost buyers are unlikely to come across the next Basquiat. But, if they do buy well, they could achieve decent annual positive returns, say art advisers.\n\nThe real dividend of owning artworks, according to Issaurat, however, is “the intellectual or aesthetic enjoyment you get... You just can’t measure this in euros or dollars or pounds.\"",[],"text$adb6ea17-3dab-495b-847c-54d1d2ce0152",{"variation":88,"version":89,"items":321,"primary":323,"id":325,"slice_type":326,"slice_label":7},[322],{},{"embed":324},{},"embed$81701536-8c30-4ed4-ab45-b76831e8db4e","embed","How does investment in art compare to traditional investments?","What returns should you expect when you in invest in art.",{"dimensions":330,"alt":331,"copyright":7,"url":332,"id":333,"edit":334},{"width":134,"height":135},"Massysm Quentin — The Moneylender and his Wife \u002F Is art a sound investment? \u002F Article : Art investment ","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002Fdc35b9d9-3f09-43c3-8b5e-fd1be2538bd2_Image+Opengraph+Is+art+a+sound+investment.jpg?auto=compress,format","ZK_8txIAACMAahhi",{"x":53,"y":53,"zoom":54,"background":55},[336,364],{"variation":88,"version":89,"items":337,"primary":361,"id":363,"slice_type":176,"slice_label":7},[338,342,346,357],{"post":339},{"id":154,"type":8,"tags":340,"lang":16,"slug":156,"first_publication_date":157,"last_publication_date":158,"uid":156,"link_type":66,"key":341,"isBroken":68},[11],"c8d47ce0-1d29-4116-afb9-08fd4fc46eb9",{"post":343},{"id":5,"type":8,"tags":344,"lang":16,"slug":6,"first_publication_date":12,"last_publication_date":13,"uid":6,"link_type":66,"key":345,"isBroken":68},[11],"7d38a57c-b292-437e-a0e4-98bde4617382",{"post":347},{"id":348,"type":8,"tags":349,"lang":16,"slug":352,"first_publication_date":353,"last_publication_date":354,"uid":355,"link_type":66,"key":356,"isBroken":68},"ZIn28RAAACMArpTW",[350,351],"Paul 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Picasso","a-voyeurs-view-of-myth-desire-and-summer","2023-06-14T17:20:52+0000","2024-02-12T16:31:18+0000","bathers-a-long-and-cold-winter","237fba81-3c1a-42f1-8869-a3cdca9f9891",{"post":358},{"id":162,"type":8,"tags":359,"lang":16,"slug":165,"first_publication_date":166,"last_publication_date":167,"uid":168,"link_type":66,"key":360,"isBroken":68},[164],"de5b463a-2d76-4aa3-95d6-ba59ddc203c1",{"slides_per_view":7,"max_slides_count":7,"tag":362,"type":8,"title":174,"paralax":7},{"link_type":66},"carousel$92e64e99-ab0d-4e3e-81c6-19f9532e78dc",{"variation":88,"version":89,"items":365,"primary":368,"id":370,"slice_type":176,"slice_label":7},[366],{"post":367},{"link_type":66},{"slides_per_view":7,"max_slides_count":7,"tag":369,"type":181,"title":182,"paralax":7},{"link_type":66},"carousel$07c6f998-e064-40e5-ae17-9d21d3b880d7",{"id":154,"uid":156,"url":7,"type":8,"href":372,"tags":373,"first_publication_date":157,"last_publication_date":158,"slugs":374,"linked_documents":376,"lang":16,"alternate_languages":377,"data":378},"https:\u002F\u002Fartexplorer-prod.cdn.prismic.io\u002Fapi\u002Fv2\u002Fdocuments\u002Fsearch?ref=aCb60BIAACEA00zN&q=%5B%5B%3Ad+%3D+at%28document.id%2C+%22ZBmoCREAACIAZDGt%22%29+%5D%5D",[11],[156,375],"buying-art-can-lower-the-overall-risks-of-your-investment-portfolio-by-helping-to-maximise-returns-while-limiting-losses-in-a-downturn.",[],[],{"title":379,"subtitle":380,"author":381,"copyright_cover":7,"cover_desktop":407,"cover_mobile":413,"thumbnail":418,"published_at":7,"slices":421,"meta_title":379,"meta_description":440,"og_image":441,"slices2":447},"The art of diversification ","Buy art, lower risk, maximize returns – is it so simple?",{"id":22,"type":23,"tags":382,"lang":16,"slug":26,"first_publication_date":27,"last_publication_date":28,"uid":26,"data":383,"link_type":66,"key":406,"isBroken":68},[25],{"description":384,"short_description":391,"job":45,"thumbnail":394,"cover":397,"uid":26,"title":25,"og_image":400,"meta_description":403,"meta_title":25},[385,387,389],{"type":32,"text":33,"spans":386},[],{"type":32,"text":36,"spans":388},[],{"type":32,"text":39,"spans":390},[],[392],{"type":32,"text":43,"spans":393},[],{"dimensions":395,"alt":25,"copyright":7,"url":50,"id":51,"edit":396},{"width":48,"height":49},{"x":53,"y":53,"zoom":54,"background":55},{"dimensions":398,"alt":25,"copyright":7,"url":50,"id":51,"edit":399},{"width":48,"height":49},{"x":53,"y":53,"zoom":54,"background":55},{"dimensions":401,"alt":25,"copyright":25,"url":50,"id":51,"edit":402},{"width":48,"height":49},{"x":53,"y":53,"zoom":54,"background":55},[404],{"type":32,"text":64,"spans":405},[],"25962333-8741-4cc3-8242-f57308614097",{"dimensions":408,"alt":409,"copyright":7,"url":410,"id":411,"edit":412},{"width":71,"height":72},"The Money Changers","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002Fae565da2-21f2-4c7c-b5ab-d8817755c291_Slide+16_9+-+88.jpg?auto=compress,format","ZLAO6xIAACAAamGW",{"x":53,"y":53,"zoom":54,"background":55},{"dimensions":414,"alt":409,"copyright":7,"url":415,"id":416,"edit":417},{"width":72,"height":71},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F97040616-ff96-4d3a-ae2b-c1382d478718_9_16+%286%29.jpg?auto=compress,format","ZLAO7BIAACIAamGd",{"x":53,"y":53,"zoom":54,"background":55},{"dimensions":419,"alt":409,"copyright":7,"url":415,"id":416,"edit":420},{"width":72,"height":71},{"x":53,"y":53,"zoom":54,"background":55},[422],{"variation":88,"version":89,"items":423,"primary":425,"id":439,"slice_type":102,"slice_label":7},[424],{},{"title":426,"content":429},[427],{"type":249,"text":99,"spans":428},[],[430,433,436],{"type":32,"text":431,"spans":432},"Buying art can lower the overall risks of your investment portfolio by helping to maximise returns while limiting losses in a downturn. The perfect investment would be one that behaves like cash – i.e., that doesn’t depreciate – yet performs like tech stocks during the dot-com boom. Sadly, no such investment exists.  \n\nThis is something the Chinese appear to have long understood. Indeed, the Chinese word for “risk” consists of two separate symbols: “danger” and “opportunity,” clearly explaining that risk brings with it the possibility of both losses and gains.   \n\nThis understanding is deeply ingrained in the psyche of any good wealth manager or financial adviser. Underpinning every investment approach is appetite for risk – in essence, an investor’s ability and willingness to stomach losses in the pursuit of profits.   \n\nThe other key tenet of savvy investing – first popularised by Nobel prize winner and father of modern portfolio theory Harry Markowitz – is diversification.   \n\nThe idea is that, by spreading investments across different securities (like shares in different companies) and different asset classes (like bonds or even wine or art), investors can maximise their financial returns while limiting losses in a downturn. When one asset is falling in value, another might be falling more slowly or even rising in price, cushioning the overall blows of challenging investment markets yet maintaining a long-term aim of delivering decent gains.  \n\nThis concept has been so rigorously tested by academics and investors of all shapes and sizes that it is pretty much universally adopted by all professional investors from pension funds and endowments to the world’s biggest global asset and wealth managers.  \n\nThe test to check whether another investment makes sense for diversification purposes is to look at how closely it performs with another. The tool used to do this is called correlation. It measures how closely one asset (or a particular stock or bond) has performed against another. Correlation is ranked between minus one and one with zero denoting that there is no performance relationship at all, while one signifies that two assets rise and fall in tandem. A negative correlation indicates that when one asset rises in price the other falls.   \n\nMost long-term investors will own equities and bonds as core holdings in their portfolios. So typical diversification assets might include property, private equity, hedge funds, or even art and other collectables. \n\nLike property or private equity, research indicates that art can also prove to be an effective diversification asset. Measured from 2000 to the end of June 2021, European Old Masters and Impressionist art had a “low” correlation of just 0.23 with the S&P 500 index of leading US stocks, according to data provider Artnet, indicating art has a noticeably different performance profile to US equities.   \n\nIn terms of how much of their wealth investors might want to tie up in art and other collectables, that will depend on multiple factors, not least personal and emotional ones. But, as a good guide, investment advisers suggest up to around 5% of total assets held in art and collectables can provide useful diversification benefits.  \n\nBut beware, not all art performs the same and some artworks will prove better diversification tools than others. Also measured from 2000 to the end of June 2021, Global Contemporary Art and Global Post-War Art had correlations with the S&P 500 of 0.72 and 0.70 respectively, according to Artnet, pointing to a strong performance relationship with equities.   \n\nFurthermore, it is important to look at the period over which correlation figures are calculated as they can vary significantly over time.   \n\nTake bonds and equities. From the late 1990s until very recently, high-quality government bonds had a negative correlation with equities: when stock markets fell, investors tended to rush towards the safe havens of US and German government bonds, driving up their prices during stock market turmoil. But this relationship changed in 2022, as rising inflation and interest rates hurt both bonds and equities. As a result, the correlation between the two moved from negative to positive.   ",[],{"type":32,"text":434,"spans":435},"\n\nNo one has a crystal ball. Similar changes could happen to art or within a particular art genre if it falls in or out of favour. The fact no one can accurately predict the future only underlines why it makes sense to put one’s investment eggs in a wide variety of baskets.   ",[],{"type":32,"text":437,"spans":438},"  ",[],"text$70e5d07e-6002-443b-907d-2b4441f2272c","Buying art can lower the overall risks of your investment portfolio by helping to maximise returns while limiting losses in a downturn.",{"dimensions":442,"alt":443,"copyright":7,"url":444,"id":445,"edit":446},{"width":134,"height":135},"The Money Changers \u002F The art of diversification  \u002F Article : Art investment ","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002Fa1fd309d-8dbb-485f-a5af-9cdca078b85b_Image+Opengraph+The+art+of+diversification.jpg?auto=compress,format","ZK_8tRIAACIAahhS",{"x":53,"y":53,"zoom":54,"background":55},[448],{"variation":88,"version":89,"items":449,"primary":478,"id":481,"slice_type":176,"slice_label":7},[450,459,469],{"post":451},{"id":452,"type":181,"tags":453,"lang":16,"slug":454,"first_publication_date":455,"last_publication_date":456,"uid":457,"link_type":66,"key":458,"isBroken":68},"ZHc1QRAAACUAkmFm",[11],"ludovic-subran-is-art-a-good-hedge-against-inflation","2023-05-31T11:53:41+0000","2023-08-31T21:34:18+0000","is-investing-in-art-a-good-hedge-against-inflation","751caa4c-c626-4ca8-90dd-7820f679ca47",{"post":460},{"id":461,"type":181,"tags":462,"lang":16,"slug":464,"first_publication_date":465,"last_publication_date":466,"uid":467,"link_type":66,"key":468,"isBroken":68},"ZA8MXBAAACgAyr6g",[463],"Conservation ","curtis-dowling-fakes-and-forgeries-in-art","2023-03-13T11:44:46+0000","2023-08-31T21:34:49+0000","curtis-dowling-art-forgery-fakes","af0227dc-bbb4-4ec7-8891-764a51b4d1ae",{"post":470},{"id":471,"type":181,"tags":472,"lang":16,"slug":473,"first_publication_date":474,"last_publication_date":475,"uid":476,"link_type":66,"key":477,"isBroken":68},"ZBNBcxAAACMAXuYT",[164],"simonetta-fraquelli--annette-king-modiglianis-enduring-appeal-and-spotting-his-fakes","2023-03-16T16:19:49+0000","2023-08-31T21:33:41+0000","why-does-amedeo-modigliani-have-such-enduring-appeal","fe0612c3-e91e-4be7-865c-f9281ba7e077",{"slides_per_view":171,"max_slides_count":171,"tag":479,"type":181,"title":480,"paralax":7},{"link_type":66},"Art Explored Audiocasts","carousel$36c78bbe-e63c-4051-818f-baa909fb67e2",{"id":162,"uid":168,"url":7,"type":8,"href":483,"tags":484,"first_publication_date":166,"last_publication_date":167,"slugs":485,"linked_documents":489,"lang":16,"alternate_languages":490,"data":491},"https:\u002F\u002Fartexplorer-prod.cdn.prismic.io\u002Fapi\u002Fv2\u002Fdocuments\u002Fsearch?ref=aCb60BIAACEA00zN&q=%5B%5B%3Ad+%3D+at%28document.id%2C+%22ZAhxkRAAACkAvx0D%22%29+%5D%5D",[164],[165,486,487,488],"do-we-know-modigliani-any-better-through-modigliani-up-close","the-show-at-the-barnes-foundation-in-philadelphia-serves-up-technical-discoveries-new-insights-and-fascinating-secrets-about-the-italian-artist-who-died-in-1920.","a-century-of-enigma",[],[],{"title":492,"subtitle":493,"author":494,"copyright_cover":539,"cover_desktop":540,"cover_mobile":545,"thumbnail":550,"published_at":7,"slices":553,"meta_title":492,"meta_description":781,"og_image":782,"slices2":787},"Amedeo Modigliani through the microscope","Delve into the artist’s enduring appeal and his use of materials",{"id":495,"type":23,"tags":496,"lang":16,"slug":497,"first_publication_date":498,"last_publication_date":499,"uid":500,"data":501,"link_type":66,"key":538,"isBroken":68},"ZBBfzBAAACgAzQAo",[],"william-corwin","2023-03-14T11:51:45+0000","2023-07-10T00:55:46+0000","will-corwin",{"description":502,"short_description":515,"job":519,"thumbnail":520,"cover":528,"uid":500,"title":524,"og_image":531,"meta_description":534,"meta_title":524},[503,506,509,512],{"type":32,"text":504,"spans":505},"William Corwin covers art news and features in North America. He is a sculptor, journalist, and curator from New York. He has exhibited at The Clocktower, LaMama and Geary galleries in New York, as well as galleries in London, Hamburg, Beijing and Taipei. ",[],{"type":32,"text":507,"spans":508},"He has written regularly for The Brooklyn Rail, Artpapers, Bomb, Artcritical, Raintaxi and Canvas and formerly for Frieze. He curated and wrote the catalog for Postwar Women at The Art Students League in New York, an exhibition of the school’s alumnae active between 1945-65, and 9th Street Club, an exhibition of Perle Fine, Helen Frankenthaler, Mercedes Matter, Grace Hartigan, Lee Krasner and Elaine Dekooning at Gazelli Art House in London. ",[],{"type":32,"text":510,"spans":511},"His most recent curatorial projects were the first solo exhibition of French Mid-century painter Marguerite Louppe (1901-1989) at Rosenberg & Co gallery in New York (Corwin has been working with the estates of Marguerite Louppe, and her husband the painter Maurice Brianchon for the past decade), and The Agreement:  Chromatic presences, and exhibition of colored sculpture featuring Ugo Rondinone, Lynn Umlauf, Remy Jungerman, Kianja Strobert and Tom Doyle, among others. ",[],{"type":32,"text":513,"spans":514},"He is the editor of Formal Concerns: Collected Essays of Saul Ostrow, to be published in 2023 by Elective Affinity Press, and participated in the exhibition Anchor\u002FRoots at the Newhouse Center for Contemporary Art at Snug Harbor Cultural Center in 2021. He is the author of the book &Model (2020), a history of a Grass-roots artist-run gallery in Northern England, published by Leeds Metropolitan University.",[],[516],{"type":32,"text":517,"spans":518},"William Corwin covers North America for ArtExplored",[],"Art Writer (North America)",{"dimensions":521,"alt":524,"copyright":524,"url":525,"id":526,"edit":527},{"width":522,"height":523},2660,3012,"William Corwin","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F4bbbe5d4-21a0-489e-8fe3-96d3a471c015_William+Corwin+B%26W+Art+Explored.jpg?auto=compress,format","ZIg3ghAAACAApnDS",{"x":53,"y":53,"zoom":54,"background":55},{"dimensions":529,"alt":524,"copyright":7,"url":525,"id":526,"edit":530},{"width":522,"height":523},{"x":53,"y":53,"zoom":54,"background":55},{"dimensions":532,"alt":524,"copyright":524,"url":525,"id":526,"edit":533},{"width":522,"height":523},{"x":53,"y":53,"zoom":54,"background":55},[535],{"type":32,"text":536,"spans":537},"Will Corwin covers North America for ArtExplored",[],"6fa43892-7808-4867-86d1-cf7940a098c0","Amedeo Modigliani. Portrait of Manuel Humbert, 1916. Collection of Bruce and Robbi Toll",{"dimensions":541,"alt":539,"copyright":539,"url":542,"id":543,"edit":544},{"width":71,"height":72},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002Ff2bff450-b453-49b3-8275-f309d8550cac_Slide+16_9+-+71.jpg?auto=compress,format","ZCrhUBAAACIA8jIN",{"x":53,"y":53,"zoom":54,"background":55},{"dimensions":546,"alt":539,"copyright":539,"url":547,"id":548,"edit":549},{"width":72,"height":71},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F2f4d958a-edad-4383-81cc-013dbafd4c07_9_16.jpg?auto=compress,format","ZCrhUBAAACEA8jIO",{"x":53,"y":53,"zoom":54,"background":55},{"dimensions":551,"alt":539,"copyright":539,"url":547,"id":548,"edit":552},{"width":72,"height":71},{"x":53,"y":53,"zoom":54,"background":55},[554,569,596,621,676,724],{"variation":88,"version":89,"items":555,"primary":557,"id":568,"slice_type":102,"slice_label":7},[556],{},{"title":558,"content":561},[559],{"type":249,"text":99,"spans":560},[],[562],{"type":32,"text":563,"spans":564},"What is it about the eyes in Amedeo Modigliani’s painting? The majority of sitters in his paintings in Philadelphia’s Barnes Foundation exhibition Modigliani Up Close simply have grey blank spaces instead of eyeballs, rendering their faces more like masks. In Self-Portrait (1919), the very first canvas one encounters in the exhibition, the artist’s body lilts gently to the right and directs its empty pupil-less gaze slightly over our shoulder. Oddly, this missing ingredient doesn’t detract from the sense of personality we get from the bemused rakish Italian-Jewish artist clutching his palette to his chest. He would die a year later, and his eight-month-pregnant wife and muse, Jeanne Hébuterne would commit suicide the day after by jumping out of a window. She inhabits seven of the paintings in Modigliani Up Close. \n\nLegends and questionable anecdotes immediately began to swirl about the artist following his untimely death, and his radical, oft-ridiculed painting style, enigmatic eyeless faces, and penchant for painting lovers only fueled mounting interest in his work. His paintings have continued to grow in value, and he has simultaneously become a darling of forgers. ",[565],{"start":566,"end":567,"type":259},260,273,"text$a67971ff-df84-4025-858d-6c9279383f76",{"variation":570,"version":89,"items":571,"primary":583,"id":594,"slice_type":595,"slice_label":7},"centered-slice",[572],{"image":573,"title":577,"subtitle":582},{"dimensions":574,"alt":577,"copyright":578,"url":579,"id":580,"edit":581},{"width":575,"height":576},2220,3497,"Amedeo Modigliani. Self Portrait, 1919","Amedeo Modigliani. Self Portrait, 1919\nMuseu de Arte Contemporanea da Universidade de São Paulo, Gift of Yolanda Penteado and Francisco Matarazzo Sobrinho 1963.2.16 \u002F MAC USP Collection [Museu de Arte Contemporânea da USP Collection, São Paulo, Brazil]","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002Fd0755ded-040e-45b2-b9c3-2d9a517e70cd_Amedeo+Modigliani.+Self+Portrait_+1919.jpg?auto=compress,format","ZCvgvRAAACQA887p",{"x":53,"y":53,"zoom":54,"background":55},"Museu de Arte Contemporanea da Universidade de São Paulo, Gift of Yolanda Penteado and Francisco Matarazzo Sobrinho 1963.2.16 \u002F MAC USP Collection [Museu de Arte Contemporânea da USP Collection, São Paulo, Brazil]",{"image1":584,"label":7,"copyright":590},{"dimensions":585,"alt":577,"copyright":586,"url":587,"id":588,"edit":589},{"width":72,"height":72},"Amedeo Modigliani. Self Portrait, 1919\n\nMuseu de Arte Contemporanea da Universidade de São Paulo, Gift of Yolanda Penteado and Francisco Matarazzo Sobrinho 1963.2.16 \u002F MAC USP Collection [Museu de Arte Contemporânea da USP Collection, São Paulo, Brazil] ","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002Fff260219-ad0d-4ed6-8984-bd6d70622700_carr%C3%A9.jpg?auto=compress,format","ZCv2xBAAACMA8_fn",{"x":53,"y":53,"zoom":54,"background":55},[591],{"type":32,"text":592,"spans":593},"Amedeo Modigliani. Self Portrait, 1919 Museu de Arte Contemporanea da Universidade de São Paulo, Gift of Yolanda Penteado and Francisco Matarazzo Sobrinho 1963.2.16 \u002F MAC USP Collection [Museu de Arte Contemporânea da USP Collection, São Paulo, Brazil] \n\n(Click on the image for full screen version)",[],"image$1092fce7-7b4c-4d00-9068-e79f33a5327e","image",{"variation":88,"version":89,"items":597,"primary":599,"id":620,"slice_type":102,"slice_label":7},[598],{},{"title":600,"content":601},[],[602],{"type":32,"text":603,"spans":604},"Modigliani Up Close brilliantly uses the science of painting conservation and such initially daunting technologies and methodologies as X-ray fluorescence mercury mapping and the Thread Count Automation Project to sift through the forgeries and myths about the fabled artist and begin to paint a portrait of the man who captured others so profoundly.\n\nLike a meticulous prosecutorial team building a sturdy case, the curators of the exhibition, a combination of academics and conservators – Barbara Buckley, Simonetta Fraquelli, Nancy Ireson, and Annette King – construct a narrative based on data gleaned from samples and scans. We watch the 22-year-old Italian artist, new to the burgeoning Parisian art scene in 1906, begin by slumming it – buying old canvases and painting his own images over them, as in The Pretty Housewife (1915). Or Modigliani simply recycled a canvas – more than a few times – such as the palimpsest-like double-sided painting Nude with a Hat (recto), Maud Abrantès (verso) (1908);  X-radiography has revealed an additional pair of portraits lying below the final paintings. The curators are quick to affirm that this was common practice among bohemians at the time (and before and since). But other details, such as Modigliani’s use of a previous artist’s colours in the basket in the hand of The Pretty Housewife, and his penchant for reusing canvases even when he had adequate funds to purchase fresh canvas and stretchers, seem to indicate individual aesthetic choices such as pulling inspiration from an already existing painting and adding an unexpected depth to his own, or a fascination with the unexpected textures of recycled paintings, respectively.",[605,608,611,614,617],{"start":606,"end":607,"type":259},19,20,{"start":609,"end":610,"type":259},809,829,{"start":612,"end":613,"type":259},953,968,{"start":615,"end":616,"type":259},978,991,{"start":618,"end":619,"type":259},1320,1340,"text$5ad4abeb-89f3-4a3f-aaad-592b9d816757",{"variation":622,"version":89,"items":623,"primary":657,"id":675,"slice_type":595,"slice_label":7},"double-slice",[624,635,646],{"image":625,"title":629,"subtitle":634},{"dimensions":626,"alt":629,"copyright":630,"url":631,"id":632,"edit":633},{"width":627,"height":628},2016,2580,"Amedeo Modigliani, Portrait of Maud Abrantes (verso), 1908.","Amedeo Modigliani, Portrait of Maud Abrantes (verso), 1908.\n\nReuben and Edith Hecht Museum, University of Haifa Photograph © Hecht Museum, University of Haifa, Photo: Shay Levy","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F22a4964f-b691-4a6e-8a93-2901c5b00109_Amedeo+Modigliani_+Portrait+of+Maud+Abrantes+%28verso%29%2C+1908.jpg?auto=compress,format","ZCvlKRAAACIA89bD",{"x":53,"y":53,"zoom":54,"background":55},"© Hecht Museum, University of Haifa, Photo: Shay Levy",{"image":636,"title":640,"subtitle":645},{"dimensions":637,"alt":640,"copyright":641,"url":642,"id":643,"edit":644},{"width":638,"height":639},2269,3254,"Amedeo Modigliani. Nude with a Hat (recto), 1908","Amedeo Modigliani. Nude with a Hat (recto), 1908\n\nReuben and Edith Hecht Museum, University of Haifa, Israel. Hecht Museum, Haifa\nPhotograph © Hecht Museum, University of Haifa, Photo: Shay Levy","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F45fe459c-32d5-4b5b-b33c-38c70b4e9780_Amedeo+Modigliani.+Nude+with+a+Hat+%28recto%29_+1908.jpg?auto=compress,format","ZCvrmRAAACEA8-MM",{"x":53,"y":53,"zoom":54,"background":55},"Photograph © Hecht Museum, University of Haifa, Photo: Shay Levy",{"image":647,"title":655,"subtitle":656},{"dimensions":648,"alt":651,"copyright":651,"url":652,"id":653,"edit":654},{"width":649,"height":650},3078,6922,"Amedeo Modigliani. The Pretty Housewife (La Jolie ménagère), 1915. The Barnes Foundation, BF327","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F59d0de05-5978-4561-aa9d-bf1613b86f42_Amedeo+Modigliani.+The+Pretty+Housewife+%28La+Jolie+m%C3%A9nag%C3%A8re%29.jpg?auto=compress,format","ZCvlKRAAACIA89bF",{"x":53,"y":53,"zoom":54,"background":55},"Amedeo Modigliani. The Pretty Housewife (La Jolie ménagère), 1915","The Barnes Foundation, BF327",{"image1":658,"image2":664,"label":670,"copyright":671},{"dimensions":659,"alt":629,"copyright":630,"url":661,"id":662,"edit":663},{"width":660,"height":71},2560,"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F64064168-6512-4b7e-96a0-965ca948bac9_3_2+Amedeo+Modigliani_+Portrait+of+Maud+Abrantes+%28verso%29%2C+1908.jpg?auto=compress,format","ZCvkXhAAACMA89VU",{"x":53,"y":53,"zoom":54,"background":55},{"dimensions":665,"alt":651,"copyright":651,"url":667,"id":668,"edit":669},{"width":666,"height":228},1921,"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F10fc6719-5bd3-434c-9fdf-a581aef66428_3_2+Amedeo+Modigliani.+The+Pretty+Housewife+%28La+Jolie+m%C3%A9nag%C3%A8re%29.jpg?auto=compress,format","ZCvkmhAAACEA89XK",{"x":53,"y":53,"zoom":54,"background":55},"From left to right",[672],{"type":32,"text":673,"spans":674},"Portrait of Maud Abrantes(verso), 1908. Reuben and Edith Hecht Museum, University of Haifa Photograph © Hecht Museum, University of Haifa, Photo: Shay Levy\nThe Pretty Housewife (La Jolie ménagère), 1915. The Barnes Foundation, BF327\n(Click on the image for full screen version)",[],"image$a1012e0b-ed7a-4c95-a115-95a957842670",{"variation":88,"version":89,"items":677,"primary":679,"id":723,"slice_type":102,"slice_label":7},[678],{},{"title":680,"content":681},[],[682,721],{"type":32,"text":683,"spans":684},"The Thread Count Automation Project has been able to identify the signature pattern of threads in a roll of canvas and can place various paintings on the same roll. As Modigliani and his art dealer were purchasing premade canvases from manufacturers in Paris and the south of France, this path of research can authenticate a Modigliani painting beyond reasonable doubt. Modigliani’s Le Nu Couché (sur la côté gauche) (1917) sold in 2018 for $157.2 million, and considering that 20 out of 21 paintings were declared forgeries at a 2017 exhibition at the Palazzo Ducale in Genoa titled Modigliani, the need to prove that the works were actually created by the artist himself has become a significant concern.\n\nLike a druid’s mystical circle of stones, eight of Modigliani’s delicate and slender female heads form a klatch at the centre of the first gallery in Modigliani Up Close. This in part mimics the arrangement of the artist’s sculptural practice in the Cubist room of the Salon d’Automne in 1912, preserved in photographs. The sacred geometry of the presentation also pulls from accounts from the artist’s contemporaries of his inclination to create a temple-like atmosphere in his studio, with candles nestled on the crowns of his heads casting flickering shadows across the sinuous features. Conservators discovered wax traces on the sculptures, confirming this enlightening anecdote. Analysis of the limestone, and the block’s original shape before the carving began, offers another fascinating detail: that Modigliani purchased (or stole) pieces of stone destined for door jambs and lintels in buildings in Paris. Did these long narrow architectural elements inspire the artist to make elongated sculptural forms, or was he searching out blocks of this shape?\n\nThe first gallery flows into a room of elongated languorous gently writhing nudes: Nude with Coral Necklace (1917), Nude (1917), Seated Nude with a Skirt (1917), Reclining Nude (1917), and Reclining Nude (1919). Encompassed by a sea of pinks, much like being encircled by the ring of beige oolitic limestone in the first gallery, the viewer can watch Modigliani tweaking and refining his vision, he tilts his model’s hips forward and back, plays with line versus alternating shades of colour, and tries different props in order to heighten the sense of erotic connection between the sitter and the artist\u002Fviewer. Each of the galleries allows the viewer to explore the artist’s investigations based on type: light-filled portraits of bored pink-cheeked boys roped into modelling during his convalescence in 1918-19 in the south of France and in the final room a magnificent trio of large format paintings of the ill-fated lover Jeanne Hébuterne: Jeanne Hébuterne in a Yellow Sweater (1918-1919), Portrait of Jeanne Hébuterne (1918), and Jeanne Hébuterne (1919). Modigliani Up Close does not end in the allotted gallery space: because of the esoteric requirements of Albert Barnes himself – the paintings in the permanent galleries cannot be moved from their existing arrangement on the walls, so the visitor has to visit the foundation’s collection in order to see several of Modigliani’s greatest masterpieces, such as the aforementioned The Pretty Housewife, as well as the roguish portrait of the artist’s dealer Leopold Zborowski (1919), and Boy in a Sailor Suit (1917). Modigliani and his friend Soutine were some of the earliest artists to enter Barnes’ collection, and by seeing the paintings amongst Renoirs, Picassos, and Matisses, we begin to understand the mysterious Modigliani, who died so young, in the art ecosystem in which he was a vital part.\n\nModigliani Up Close\n16 October 2022 - 29 January 2023. The Barnes Foundation, Philadelphia. ",[685,688,691,694,697,700,703,706,709,712,715,718],{"start":686,"end":687,"type":259},383,417,{"start":689,"end":690,"type":259},1853,1877,{"start":692,"end":693,"type":259},1886,1890,{"start":695,"end":696,"type":259},1899,1923,{"start":698,"end":699,"type":259},1932,1946,{"start":701,"end":702,"type":259},1959,1973,{"start":704,"end":705,"type":259},2715,2751,{"start":707,"end":708,"type":259},2765,2793,{"start":710,"end":711,"type":259},2806,2822,{"start":713,"end":714,"type":259},3208,3228,{"start":716,"end":717,"type":259},3285,3302,{"start":719,"end":720,"type":259},3315,3335,{"type":32,"text":99,"spans":722},[],"text$2ea10c84-da5e-40d2-bab2-464d2beac4af",{"variation":570,"version":89,"items":725,"primary":770,"id":780,"slice_type":595,"slice_label":7},[726,737,748,759],{"image":727,"title":731,"subtitle":736},{"dimensions":728,"alt":731,"copyright":732,"url":733,"id":734,"edit":735},{"width":729,"height":730},6754,4354,"Amedeo Modigliani. Reclining Nude from the Back (Nu couché de dos), 1917, Oil on canvas","Amedeo Modigliani. Reclining Nude from the Back (Nu couché de dos), 1917, Oil on canvas\nThe Barnes Foundation, BF576.","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002Ff2a3354c-49ba-4747-b3d5-8d781f7ffc05_Amedeo+Modigliani.+Nude+with+Coral+Necklace_+1917.jpg?auto=compress,format","ZCrk4hAAACMA8jhn",{"x":53,"y":53,"zoom":54,"background":55},"The Barnes Foundation, BF576.",{"image":738,"title":742,"subtitle":747},{"dimensions":739,"alt":742,"copyright":743,"url":744,"id":745,"edit":746},{"width":740,"height":741},3593,2342,"Amedeo Modigliani. Nude with Coral Necklace, 1917","Amedeo Modigliani. Nude with Coral Necklace, 1917\n\nAllen Memorial Art Museum, Oberlin College, Oberlin, Ohio. Gift of Joseph and Enid Bissett 1955.59","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F6ba2efc4-2477-4c5b-980f-3cd2ce3934a0_Amedeo+Modigliani.+Nude+with+Coral+Necklace_+1917.jpg?auto=compress,format","ZCvz9xAAACQA8_J9",{"x":53,"y":53,"zoom":54,"background":55},"Allen Memorial Art Museum, Oberlin College, Oberlin, Ohio. Gift of Joseph and Enid Bissett 1955.59",{"image":749,"title":753,"subtitle":758},{"dimensions":750,"alt":753,"copyright":754,"url":755,"id":756,"edit":757},{"width":751,"height":752},3003,4606,"Amedeo Modigliani. Jeanne Hébuterne with Yellow Sweater, 1918–19","Amedeo Modigliani. Jeanne Hébuterne with Yellow Sweater, 1918–19\n\nSolomon R. Guggenheim Museum, New York.\nSolomon R. Guggenheim Founding Collection, by gift, 37.533\u002F Photo credit: The Solomon R. Guggenheim Foundation \u002F Art Resource, NY","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F8fc4043f-1bfb-498a-a0ca-460a135f7db6_Amedeo+Modigliani.+Jeanne+H%C3%A9buterne+with+Yellow+Sweater_+1918%E2%80%9319.jpg?auto=compress,format","ZCvvURAAACQA8-nr",{"x":53,"y":53,"zoom":54,"background":55},"Photo credit: The Solomon R. Guggenheim Foundation \u002F Art Resource, NY",{"image":760,"title":764,"subtitle":769},{"dimensions":761,"alt":764,"copyright":765,"url":766,"id":767,"edit":768},{"width":762,"height":763},2354,2938,"Amedeo Modigliani, Jeanne Hébuterne, 1919","Amedeo Modigliani, Jeanne Hébuterne, 1919. The Metropolitan Museum of Art, New York, Gift of Mr. and Mrs. Nate B. Spingold, 1956 (56.184.2)\nImage © The Metropolitan Museum of Art. Image source: Art Resource","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002Fcbb5b1f1-530d-4b67-b8f4-203be68f5433_Amedeo+Modigliani_+Jeanne+H%C3%A9buterne%2C+1919.jpg?auto=compress,format","ZCvyhRAAACIA8-_G",{"x":53,"y":53,"zoom":54,"background":55},"Image © The Metropolitan Museum of Art. Image source: Art Resource",{"image1":771,"label":7,"copyright":776},{"dimensions":772,"alt":731,"copyright":732,"url":773,"id":774,"edit":775},{"width":71,"height":660},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F4e0c35f5-0dc0-41de-94c7-22cb7b1cbb82_3_2-2.jpg?auto=compress,format","ZCrkGhAAACEA8jb-",{"x":53,"y":53,"zoom":54,"background":55},[777],{"type":32,"text":778,"spans":779},"Amedeo Modigliani. Reclining Nude from the Back (Nu couché de dos), 1917, Oil on canvas\nThe Barnes Foundation, BF576.\n(Click on the image to see the carrousel)",[],"image$701d999b-2f59-4f4a-b8fb-e3487ab2bb96","ArtExplored delves into the mystery and allure of Modigliani's art and the impact of 'Modigliani Up Close.' Discover the enduring fascination with this Italian artist.",{"dimensions":783,"alt":539,"copyright":7,"url":784,"id":785,"edit":786},{"width":134,"height":135},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002Fbfd24834-ef66-4ac5-84f3-b8f7ed9ab67f_Amedo+Modigliani+Image+Opengraph.jpg?auto=compress,format","ZK_8thIAACMAahhe",{"x":53,"y":53,"zoom":54,"background":55},[788,793,800],{"variation":88,"version":89,"items":789,"primary":790,"id":792,"slice_type":176,"slice_label":7},[],{"slides_per_view":7,"max_slides_count":7,"tag":791,"type":8,"title":174,"paralax":7},{"link_type":66},"carousel$76399f61-581f-4422-989a-c4d3a51b684f",{"variation":88,"version":89,"items":794,"primary":797,"id":799,"slice_type":176,"slice_label":7},[795],{"post":796},{"link_type":66},{"slides_per_view":7,"max_slides_count":7,"tag":798,"type":181,"title":182,"paralax":7},{"link_type":66},"carousel$454b3fee-0d33-4b7c-8484-8a1534e794eb",{"variation":88,"version":89,"items":801,"primary":804,"id":808,"slice_type":176,"slice_label":7},[802],{"post":803},{"link_type":66},{"slides_per_view":7,"max_slides_count":7,"tag":805,"type":806,"title":807,"paralax":7},{"link_type":66},"video","Discover more artists","carousel$f1aa84e6-dafc-432c-8410-d664d47c9613",{"id":810,"uid":811,"url":7,"type":812,"href":813,"tags":814,"first_publication_date":816,"last_publication_date":817,"slugs":818,"linked_documents":819,"lang":16,"alternate_languages":820,"data":821},"aCWejhIAACAA0T3L","drawing-on-his-background-as-a-commercial-illustra","artist","https:\u002F\u002Fartexplorer-prod.cdn.prismic.io\u002Fapi\u002Fv2\u002Fdocuments\u002Fsearch?ref=aCb60BIAACEA00zN&q=%5B%5B%3Ad+%3D+at%28document.id%2C+%22aCWejhIAACAA0T3L%22%29+%5D%5D",[815],"Andy Warhol","2025-05-16T08:36:27+0000","2025-05-16T08:44:00+0000",[268],[],[],{"title":815,"description":822,"birthyear":827,"deathyear":828,"is_alive":68,"cover_desktop":829,"cover_mobile":837,"thumbnail":844,"slices":847,"meta_title":7,"meta_description":895,"og_image":896},[823],{"type":32,"text":824,"spans":825,"direction":826},"Drawing on his background as a commercial illustrator, Andy Warhol redefined high art by depicting everyday objects, public icons, and memorable events in his oeuvre, quickly becoming a leading figure of Pop Art. Warhol also changed the way of producing art, using a blend of photographic silkscreen printing and hand painting. This method allowed him to create repeated images of the same motif. Driven by celebrity, Warhol cultivated a public and glamorous image. He kickstarted the celebrity culture we know today impacting other artists’ desire for commercial success.",[],"ltr",1928,1987,{"dimensions":830,"alt":7,"copyright":7,"url":833,"id":834,"edit":835},{"width":831,"height":832},3508,2480,"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FaCW04idWJ-7kSJmc_AWarhol_ArtistCoverhorizontal.jpg?auto=format,compress","aCW04idWJ-7kSJmc",{"x":53,"y":53,"zoom":54,"background":836},"transparent",{"dimensions":838,"alt":7,"copyright":7,"url":841,"id":842,"edit":843},{"width":839,"height":840},945,1020,"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FaCb1SSdWJ-7kSM1k_AWarhol_ArtistCover_1020x9452.png?auto=format,compress","aCb1SSdWJ-7kSM1k",{"x":53,"y":53,"zoom":54,"background":836},{"dimensions":845,"alt":7,"copyright":7,"url":841,"id":842,"edit":846},{"width":839,"height":840},{"x":53,"y":53,"zoom":54,"background":836},[848],{"variation":88,"version":89,"items":849,"primary":892,"id":894,"slice_type":176,"slice_label":7},[850,861,870,880],{"post":851},{"id":852,"type":8,"tags":853,"lang":16,"slug":856,"first_publication_date":857,"last_publication_date":858,"uid":859,"link_type":66,"key":860,"isBroken":68},"Z8bjHRIAACUAkcqN",[815,854,11,855],"Focus Report","Art Market","evaluating-the-market-for-andy-warhols-mao-paintings","2025-03-05T10:44:49+0000","2025-03-05T11:01:22+0000","andy-warhol-1928-1987-also-known-as-the-pope-of-po","270f56f7-0598-41cb-849f-00fa77617a20",{"post":862},{"id":863,"type":8,"tags":864,"lang":16,"slug":865,"first_publication_date":866,"last_publication_date":867,"uid":868,"link_type":66,"key":869,"isBroken":68},"Z35MmBAAACAAvENe",[815,11],"the-pop-icon-who-redefined-art-and-market-value","2025-03-07T16:29:27+0000","2025-03-07T16:42:04+0000","a-dominant-force-in-the-art-market-andy-warhol-rac","8565195a-86fe-4fc5-8b46-3f7a405b152b",{"post":871},{"id":872,"type":8,"tags":873,"lang":16,"slug":875,"first_publication_date":876,"last_publication_date":877,"uid":878,"link_type":66,"key":879,"isBroken":68},"ZAhnGRAAACsAvuo9",[874],"Jean-Michel Basquiat","king-pleasure-a-beautifully-crafted-intro-to-jean-michel-basquiat","2023-03-08T15:46:50+0000","2023-07-26T14:11:21+0000","jean-michel-basquiat-king-pleasure","433919a8-808e-4c81-82c7-98d8d4884f4a",{"post":881},{"id":882,"type":8,"tags":883,"lang":16,"slug":887,"first_publication_date":888,"last_publication_date":889,"uid":890,"link_type":66,"key":891,"isBroken":68},"ZurRuhAAACEAByVL",[884,885,886],"Rothko","Mark Rothko","Rothko Rooms","a-natural-disaster-strikes-the-rothko-chapel","2024-09-18T13:51:01+0000","2024-10-16T14:19:35+0000","are-rothko-rooms-facing-extinction","f655512c-5fed-4e53-9020-61e1b8969f1b",{"slides_per_view":7,"max_slides_count":7,"tag":893,"type":173,"title":7,"paralax":68},{"link_type":66},"carousel$ded31b2d-ea58-4126-be10-1a63846d2ee6",[],{"dimensions":897,"alt":7,"copyright":7,"url":898,"id":899,"edit":900},{"width":134,"height":135},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FaCb48idWJ-7kSM34_AWarhol_ArtistOpenGraph.jpg?auto=format,compress","aCb48idWJ-7kSM34",{"x":53,"y":53,"zoom":54,"background":836},{"id":902,"uid":903,"url":7,"type":812,"href":904,"tags":905,"first_publication_date":907,"last_publication_date":908,"slugs":909,"linked_documents":910,"lang":16,"alternate_languages":911,"data":912},"ZA8AjhAAACgAyqkW","paul-cezanne","https:\u002F\u002Fartexplorer-prod.cdn.prismic.io\u002Fapi\u002Fv2\u002Fdocuments\u002Fsearch?ref=aCb60BIAACEA00zN&q=%5B%5B%3Ad+%3D+at%28document.id%2C+%22ZA8AjhAAACgAyqkW%22%29+%5D%5D",[906],"Paul Cezanne ","2023-03-13T10:53:06+0000","2025-05-12T12:12:31+0000",[903],[],[],{"title":350,"description":913,"birthyear":917,"deathyear":918,"is_alive":68,"cover_desktop":919,"cover_mobile":924,"thumbnail":929,"slices":932,"meta_title":350,"meta_description":956,"og_image":960},[914],{"type":32,"text":915,"spans":916},"French post-impressionist painter Paul Cézanne’s innovative style paved the way for the 20th century’s modern art movements. His radical approach to colour, form, and perspective rewrote the rules of painting, especially regarding the themes of nature and still life. ",[],1839,1906,{"dimensions":920,"alt":350,"copyright":7,"url":921,"id":922,"edit":923},{"width":71,"height":72},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F702d4f98-d29e-4b43-9d82-90832450cb72_Cezanne+-+Cover+Landscape.jpg?auto=compress,format","ZBnYThIAACEAc4GA",{"x":53,"y":53,"zoom":54,"background":55},{"dimensions":925,"alt":350,"copyright":7,"url":926,"id":927,"edit":928},{"width":72,"height":71},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F1e41ab7b-e074-41cf-9133-408419c763d7_16.jpg?auto=compress,format","ZK0VAxEAACMAdgSN",{"x":53,"y":53,"zoom":54,"background":55},{"dimensions":930,"alt":350,"copyright":7,"url":926,"id":927,"edit":931},{"width":72,"height":71},{"x":53,"y":53,"zoom":54,"background":55},[933],{"variation":88,"version":89,"items":934,"primary":945,"id":955,"slice_type":176,"slice_label":7},[935],{"post":936},{"id":937,"type":8,"tags":938,"lang":16,"slug":940,"first_publication_date":941,"last_publication_date":942,"uid":943,"link_type":66,"key":944,"isBroken":68},"ZAiU1xAAACgAv6oU",[350,939],"Impressionism","cezannes-timeless-paintings-eclipse-the-contradictions","2023-03-08T15:47:36+0000","2023-07-13T14:02:05+0000","paul-cezanne-cubism-tate","446a2525-ef2f-4b5e-b183-e6503d815bc4",{"slides_per_view":7,"max_slides_count":7,"tag":946,"type":8,"title":954,"paralax":7},{"id":947,"type":948,"tags":949,"lang":16,"slug":950,"first_publication_date":951,"last_publication_date":952,"uid":903,"link_type":66,"key":953,"isBroken":68},"ZA9B5RAAAKdKyytH","tag",[350],"cezanne","2023-03-13T15:44:44+0000","2023-06-26T13:08:17+0000","9bbfabab-fffe-4514-b32e-235b3f1bb9a7","Related Articles","carousel$85163495-5fb6-4130-af84-980015d46ed3",[957],{"type":32,"text":958,"spans":959},"Paul Cezanne biography",[],{"dimensions":961,"alt":350,"copyright":7,"url":962,"id":963,"edit":964},{"width":134,"height":135},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002Fb966cc22-ebd8-467c-bd29-f14482809afb_Cezanne+%28artist%29+Image+Opengraph.jpg?auto=compress,format","ZK0FChEAACMAdbrc",{"x":53,"y":53,"zoom":54,"background":55},{"id":966,"uid":967,"url":7,"type":8,"href":968,"tags":969,"first_publication_date":971,"last_publication_date":972,"slugs":973,"linked_documents":975,"lang":16,"alternate_languages":976,"data":977},"ZqOmgxAAACEAyGP7","hidden-gem-at-the-nationalmusee-um-feschmaart","https:\u002F\u002Fartexplorer-prod.cdn.prismic.io\u002Fapi\u002Fv2\u002Fdocuments\u002Fsearch?ref=aCb60BIAACEA00zN&q=%5B%5B%3Ad+%3D+at%28document.id%2C+%22ZqOmgxAAACEAyGP7%22%29+%5D%5D",[970],"Gustav Klimt","2024-07-26T13:48:30+0000","2024-07-31T15:55:16+0000",[974],"a-mysterious-portrait",[],[],{"title":978,"subtitle":979,"author":980,"copyright_cover":7,"cover_desktop":1026,"cover_mobile":1033,"thumbnail":1039,"published_at":1042,"slices":1043,"meta_title":1257,"meta_description":1258,"og_image":1259,"slices2":1264},"Klimt, Matsch, and a Ghanaian Prince in turn-of-the-century Vienna","Twin portraits illuminate the friendship and break-up between the painters",{"id":981,"type":23,"tags":982,"lang":16,"slug":983,"first_publication_date":984,"last_publication_date":985,"uid":983,"data":986,"link_type":66,"key":1025,"isBroken":68},"ZBBz5xAAAKdKzSXy",[],"lea-nedwed","2023-03-14T13:17:30+0000","2024-07-10T17:09:39+0000",{"description":987,"short_description":1002,"job":1006,"thumbnail":1007,"cover":1015,"uid":983,"title":1011,"og_image":1018,"meta_description":1021,"meta_title":1011},[988,991,994,997,999],{"type":32,"text":989,"spans":990,"direction":826},"Léa is a managing editor at ArtExplored, where she produces in-depth art market reports and educational content. ",[],{"type":32,"text":992,"spans":993,"direction":826}," ",[],{"type":32,"text":995,"spans":996,"direction":826},"Her prior experience includes working with an art advisory service in London and Hong Kong, focusing on Post-War and Contemporary art. There, she gained extensive knowledge of the global art market. She managed daily operations and ensured the smooth running of high-profile exhibitions held annually alongside significant fairs in London, Hong Kong, and Seoul. Léa also contributed to a Paris-based non-profit that fundraised for cultural institutions by working closely with globally renowned art collectors. ",[],{"type":32,"text":992,"spans":998,"direction":826},[],{"type":32,"text":1000,"spans":1001,"direction":826},"She holds degrees in Law from the Sorbonne, Art Appraisal and Trade from IESA, and an MBA in the Business of Art from ICART.",[],[1003],{"type":32,"text":1004,"spans":1005,"direction":826},"Lea is a managing editor and content producer at ArtExplored. ",[],"Managing Editor",{"dimensions":1008,"alt":1011,"copyright":7,"url":1012,"id":1013,"edit":1014},{"width":1009,"height":1010},533,800,"Léa Nedwed","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F6d191cd1-efb6-4857-ae83-8d44a38fb195_LC%E2%95%A0%C2%BAa+NEDWED+%28Art+Cataloguer%29+%28BW%29.png?auto=compress,format","ZHYDyhAAACYAMRXl",{"x":53,"y":53,"zoom":54,"background":836},{"dimensions":1016,"alt":1011,"copyright":7,"url":1012,"id":1013,"edit":1017},{"width":1009,"height":1010},{"x":53,"y":53,"zoom":54,"background":836},{"dimensions":1019,"alt":7,"copyright":7,"url":1012,"id":1013,"edit":1020},{"width":1009,"height":1010},{"x":53,"y":53,"zoom":54,"background":836},[1022],{"type":32,"text":1023,"spans":1024},"Léa Nedwed is a senior writer at ArtExplored",[],"71fa0eca-f6fb-4c29-b543-69fde217f140",{"dimensions":1027,"alt":7,"copyright":7,"url":1030,"id":1031,"edit":1032},{"width":1028,"height":1029},16000,9000,"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZqOfcB5LeNNTxhmF_Landscape_16.9_Web_Header_HiddenGems_V6_.jpg?auto=format,compress","ZqOfcB5LeNNTxhmF",{"x":53,"y":53,"zoom":54,"background":836},{"dimensions":1034,"alt":7,"copyright":7,"url":1036,"id":1037,"edit":1038},{"width":1035,"height":1028},10667,"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZqOgAB5LeNNTxhmY_Portrait_3.2_Web_Thumbnail_HiddenGems4.jpg?auto=format,compress","ZqOgAB5LeNNTxhmY",{"x":53,"y":53,"zoom":54,"background":836},{"dimensions":1040,"alt":7,"copyright":7,"url":1036,"id":1037,"edit":1041},{"width":1035,"height":1028},{"x":53,"y":53,"zoom":54,"background":836},"2024-07-29",[1044,1058,1071,1088,1105,1128,1137,1149,1171,1180,1197,1209,1235,1244],{"variation":88,"version":89,"items":1045,"primary":1046,"id":1057,"slice_type":102,"slice_label":7},[],{"title":1047,"content":1048},[],[1049,1052,1054],{"type":32,"text":1050,"spans":1051,"direction":826},"Pablo Picasso, Giorgio de Chirico, Pierre Soulages, Richard Serra—these illustrious names in the history of art draw visitors to Luxembourg's Nationalmusée um Fëschmaart. Yet, alongside these masters, the museum also showcases long-forgotten artists who are equally deserving of our attention.",[],{"type":32,"text":992,"spans":1053,"direction":826},[],{"type":32,"text":1055,"spans":1056,"direction":826},"Ruud Priem, the museum's Head of Department and Curator of Fine Arts, recently oversaw the acquisition of a striking portrait. With a decade at Amsterdam's Rijksmuseum and collaborations worldwide, Priem has engaged deeply with celebrated masterpieces while demonstrating a discerning eye for overlooked treasures.",[],"text$ed331b5a-ad55-419e-9cc4-6ef4d8537b08",{"variation":570,"version":89,"items":1059,"primary":1060,"id":1070,"slice_type":595,"slice_label":7},[],{"image1":1061,"label":7,"copyright":1066},{"dimensions":1062,"alt":7,"copyright":7,"url":1063,"id":1064,"edit":1065},{"width":72,"height":72},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZqOhCx5LeNNTxhnR_FranzvonMatsch-Square.jpg?auto=format,compress","ZqOhCx5LeNNTxhnR",{"x":53,"y":53,"zoom":54,"background":836},[1067],{"type":32,"text":1068,"spans":1069,"direction":826},"Franz von Matsch (1861-1942), Portrait of William Nii Nortey Dowuona, Prince of the Ga people from Osu in the Grand Accra region of Ghana, West Africa, 1897, oil on canvas, Collection MNAHA",[],"image$581a16cf-b400-443f-95ef-696551be2e71",{"variation":88,"version":89,"items":1072,"primary":1073,"id":1087,"slice_type":102,"slice_label":7},[],{"title":1074,"content":1078},[1075],{"type":249,"text":1076,"spans":1077,"direction":826},"A mysterious portrait",[],[1079,1082,1084],{"type":32,"text":1080,"spans":1081,"direction":826},"The newly acquired painting is presented in its (presumably) original, beautifully crafted bamboo frame. From the corners of the frame protrude four tubers–the roots of the bamboo–enhancing its exotic allure. Its quasi-photographic quality and frontal, naturalistic depiction of a black man in bust form make it challenging to date at first glance. The painting appears academic with its polished finish and the model’s classical pose, yet it diverges from tradition through its unconventional choice of subject.",[],{"type":32,"text":992,"spans":1083,"direction":826},[],{"type":32,"text":1085,"spans":1086,"direction":826},"A black figure wears a piece of cloth in a toga-like fashion, draped over his left shoulder and leaving the right one bare. Set against a simple clay-green background, he lacks contextual markers. The museum acquired it at a 2021 Sotheby's auction, simply as “Portrait of an African Man”. Its author, Austrian painter Franz von Matsch (1861-1942), was active in Vienna from the late 19th to the mid-20th century. Reflecting an era when Black representation in European art expanded alongside migration from Africa and Haiti, such works broke away from prevailing stereotypes. However, the context in which this portrait was created unveils more complex realities. While interpreting the artist’s perspective solely through the painting proves challenging, it nevertheless offers profound insights into anthropology and social relations in modern Europe.",[],"text$b4cb4442-fba2-4a3d-9ed3-7f3a2a3ca55a",{"variation":88,"version":89,"items":1089,"primary":1090,"id":1104,"slice_type":102,"slice_label":7},[],{"title":1091,"content":1095},[1092],{"type":249,"text":1093,"spans":1094,"direction":826},"Matsch and Klimt: partners in art",[],[1096,1099,1101],{"type":32,"text":1097,"spans":1098,"direction":826},"In the 1870s, Franz von Matsch trained alongside Gustav Klimt and his brother Ernst at Vienna's School of Applied Arts, all steeped in conservative academic traditions. After their studies, in 1883, the trio collaborated on public commissions until Gustav Klimt distanced himself from the traditional painting style. Favouring artistic innovation, Klimt's art underwent a major shift in 1895, and two years later, he co-founded the Vienna Secession, one of the most avant-garde movements of the time.",[],{"type":32,"text":992,"spans":1100,"direction":826},[],{"type":32,"text":1102,"spans":1103,"direction":826},"Despite their diverging paths, Klimt and Matsch appear to have maintained a close relationship, as evidenced by their joint portrayal of the man in a toga. This enigmatic sitter is also the subject of one of Klimt's paintings, which depicts him in three-quarter view. The portrait itself is shrouded in mystery, having last been seen in public at a 1928 retrospective marking the 10th anniversary of Klimt's death. A black-and-white photograph from a 1923 auction catalogue is the only visual trace of the painting that exists today.",[],"text$5f3b82d7-a73d-4039-9852-2a47bf8110de",{"variation":570,"version":89,"items":1106,"primary":1117,"id":1127,"slice_type":595,"slice_label":7},[1107],{"image":1108,"title":1115,"subtitle":1116},{"dimensions":1109,"alt":7,"copyright":7,"url":1112,"id":1113,"edit":1114},{"width":1110,"height":1111},1920,2413,"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZqOjhB5LeNNTxhoK_Klimtpainting2.png?auto=format,compress","ZqOjhB5LeNNTxhoK",{"x":53,"y":53,"zoom":54,"background":836},"Gustav Klimt (1862-1918)","Portrait of William Nii Nortey Dowuona, c. 1897",{"image1":1118,"label":7,"copyright":1123},{"dimensions":1119,"alt":7,"copyright":7,"url":1120,"id":1121,"edit":1122},{"width":71,"height":660},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZqOqcR5LeNNTxhrQ_GustavKlimtlandscape3_2.jpg?auto=format,compress","ZqOqcR5LeNNTxhrQ",{"x":53,"y":53,"zoom":54,"background":836},[1124],{"type":32,"text":1125,"spans":1126,"direction":826},"Gustav Klimt (1862-1918), Portrait of William Nii Nortey Dowuona, c. 1897\n\n(Click to view the full image)",[],"image$d8c5583d-c0ef-4f3e-a78c-a493b58b6b37",{"variation":88,"version":89,"items":1129,"primary":1130,"id":1136,"slice_type":102,"slice_label":7},[],{"title":1131,"content":1132},[],[1133],{"type":32,"text":1134,"spans":1135,"direction":826},"Priem highlights these portraits as testaments not only to artistic camaraderie but also to the rift that possibly fractured the painters’ bond—a bullet hole in Matsch's work mirrors a dagger gash in Klimt's. An eye for an eye...",[],"text$c4881e79-a305-4079-bf28-d01b6806f52b",{"variation":88,"version":89,"items":1138,"primary":1139,"id":1148,"slice_type":102,"slice_label":7},[],{"title":1140,"content":1144},[1141],{"type":249,"text":1142,"spans":1143,"direction":826},"Investigating identity",[],[1145],{"type":32,"text":1146,"spans":1147,"direction":826},"In a 2012 publication, art historian Tobias Natter questioned the dating and subject of Klimt’s portrait. Natter speculated that it might depict an African sculpture Klimt admired at Brussels’ Musée du Congo in 1914. Enter Alfred Weidinger, Vienna’s Belvedere Museum’s former vice-president, who established the link between Klimt’s and Matsch’s portraits to around 1897. This was not only the year when Klimt began incorporating flowers into the backgrounds of his works, but also the year a group of Ga people from Ghana were “hired” to “perform” in Vienna’s “Tiergarten” (German for “zoo”).",[],"text$4a43e929-6358-422a-bc1e-5fa06cd95e72",{"variation":88,"version":89,"items":1150,"primary":1160,"id":1170,"slice_type":595,"slice_label":7},[1151],{"image":1152,"title":1159,"subtitle":7},{"dimensions":1153,"alt":7,"copyright":7,"url":1156,"id":1157,"edit":1158},{"width":1154,"height":1155},2634,1517,"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZqOk8h5LeNNTxhpX_printWienerTiergarten1897_SMK%5B31%5D2.png?auto=format,compress","ZqOk8h5LeNNTxhpX",{"x":53,"y":53,"zoom":54,"background":836},"A group of Ga people from Ghana at Vienna’s Tiergarten circa 1897.",{"image1":1161,"label":7,"copyright":1166},{"dimensions":1162,"alt":7,"copyright":7,"url":1163,"id":1164,"edit":1165},{"width":71,"height":660},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZqOk6h5LeNNTxhpW_GapeopleLandscape3_2.jpg?auto=format,compress","ZqOk6h5LeNNTxhpW",{"x":53,"y":53,"zoom":54,"background":836},[1167],{"type":32,"text":1168,"spans":1169,"direction":826},"A group of Ga people from Ghana at Vienna’s Tiergarten circa 1897.\n\n(Click to view the full image.)",[],"image$f6b14082-d44d-4c8d-8b4b-a272c5c292e3",{"variation":88,"version":89,"items":1172,"primary":1173,"id":1179,"slice_type":102,"slice_label":7},[],{"title":1174,"content":1175},[],[1176],{"type":32,"text":1177,"spans":1178,"direction":826},"During the late 19th century, “human zoos” sprang up across Europe, fuelling a fascination with the exotic at the height of colonial rule, explains Charline Zeitoun, science journalist and deputy editor-in-chief at CNRS. German wild animal importer Carl Hagenberg, known as the “King of the Zoos”, also popularised “ethnic shows”. Inuits, Nubians, Dahomeans, Amerindians, Koreans and other peoples were exhibited in reconstructed villages and asked to perform dances, wear imaginary costumes and even embody cannibalistic and brutal personas. This dehumanising industry aimed to attract an ever-growing audience while trying to legitimise the colonial and civilising enterprise. Such stagings were a resounding success with a Western public that could be described as voyeuristic, fascinated by the unusual and the exotic. “More than a billion visitors are said to have flocked to see this type of exhibition between 1870 and 1940” (“Plus d’un milliard de visiteurs se seraient pressés pour voir ce type d’exhibitions entre 1870 et 1940”), states Zeitoun.",[],"text$fef5c538-5ed3-48be-b23e-be746761f777",{"variation":88,"version":89,"items":1181,"primary":1182,"id":1196,"slice_type":102,"slice_label":7},[],{"title":1183,"content":1187},[1184],{"type":249,"text":1185,"spans":1186,"direction":826},"Breaking with artistic conventions",[],[1188,1191,1193],{"type":32,"text":1189,"spans":1190,"direction":826},"Returning to Weidinger, he, along with one of the Belvedere’s Curators Markus Fellinger, identified the figure in both portraits as William Nii Nortey Dowuona, the leader of the Ga people from Osu in Ghana. Dowuona came to Vienna’s “Tiergarten” to perform with a group of 70 warriors and about 50 women and children, all for a modest fee. At the time, the world of show business provided a fertile ground for artists seeking life models that were both affordable and challenged academic conventions. In the catalogue accompanying the 2019 exhibition “Le modèle noir, de Géricault à Matisse” at the Musée d’Orsay in Paris, Estelle Béhué and Isolde Pludermacher note that for 19th-century artists, depicting a Black model marked a significant departure from the beauty standards of the time, which were anchored in the facial features and whiteness of Greek statues.",[],{"type":32,"text":992,"spans":1192,"direction":826},[],{"type":32,"text":1194,"spans":1195,"direction":826},"Matsch’s portrayal sharply contrasts with long-prevailing depictions of young African men and women in orientalist attire or as domestic pages, emphasising the absolute domination and prosperity of their masters. Instead, the man here is neither a mere decorative motif nor a stereotype; he is presented in a dignified and attentive portrait. As the Orsay exhibition catalogue highlights, artists of this era played a key role in challenging racist and colonial ideologies.",[],"text$657902fd-4faf-4c2e-881d-e6527ceccc5d",{"variation":88,"version":89,"items":1198,"primary":1199,"id":1208,"slice_type":102,"slice_label":7},[],{"title":1200,"content":1204},[1201],{"type":249,"text":1202,"spans":1203,"direction":826},"The Ghanaian Prince awaits his twin portrait",[],[1205],{"type":32,"text":1206,"spans":1207,"direction":826},"While most black models from this period remain nameless, William Nii Nortey Dowuona’s identity is now memorialised at the Nationalmusée um Fëschmaart. He was Prince of the Ga people from Osu in the Grand Accra region of Ghana, West Africa. Priem hopes to one day reunite this portrait with Klimt’s missing piece, should it still exist and resurface. The twin portraits not only share the same subject but also the same palette, with “the two painters having used the exact same colours”, Priem further explains. Their reunion, if it ever happens, would certainly add an exciting chapter to this story and perhaps unveil further details.",[],"text$49b51a06-a118-446d-962b-15e468711c46",{"variation":622,"version":89,"items":1210,"primary":1223,"id":1234,"slice_type":595,"slice_label":7},[1211,1216],{"image":1212,"title":1215,"subtitle":7},{"dimensions":1213,"alt":7,"copyright":7,"url":1036,"id":1037,"edit":1214},{"width":1035,"height":1028},{"x":53,"y":53,"zoom":54,"background":836},"Matsch",{"image":1217,"title":1222,"subtitle":7},{"dimensions":1218,"alt":7,"copyright":7,"url":1219,"id":1220,"edit":1221},{"width":660,"height":71},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZqOjRB5LeNNTxhoC_GustavKlimt-3_2portrait.jpg?auto=format,compress","ZqOjRB5LeNNTxhoC",{"x":53,"y":53,"zoom":54,"background":836},"Klimt",{"image1":1224,"image2":1227,"label":7,"copyright":1230},{"dimensions":1225,"alt":7,"copyright":7,"url":1036,"id":1037,"edit":1226},{"width":1035,"height":1028},{"x":53,"y":53,"zoom":54,"background":836},{"dimensions":1228,"alt":7,"copyright":7,"url":1219,"id":1220,"edit":1229},{"width":660,"height":71},{"x":53,"y":53,"zoom":54,"background":836},[1231],{"type":32,"text":1232,"spans":1233,"direction":826},"Franz von Matsch’s and Gustav Klimt’s portraits of William Nii Nortey Dowuona circa 1897 (Matsch: left \u002F Klimt: right).\n\n(Click to view the full image)",[],"image$bd4ac8de-e7ea-4a73-b1b5-4ca49000c0b3",{"variation":88,"version":89,"items":1236,"primary":1237,"id":1243,"slice_type":102,"slice_label":7},[],{"title":1238,"content":1239},[],[1240],{"type":32,"text":1241,"spans":1242,"direction":826},"Exceptionally, the travel diaries of these Ghanaian \"actors\" have survived and, along with the two portraits, will be the focus of an Austrian documentary set for release in 2025, states the Nationalmusée’s Curator. This might allow the model to shift from being an observed subject to becoming an observer, providing us with a most interesting testimony.",[],"text$d70576b5-f405-435e-8a30-2e6013de9b76",{"variation":88,"version":89,"items":1245,"primary":1246,"id":1256,"slice_type":595,"slice_label":7},[],{"image1":1247,"label":7,"copyright":1252},{"dimensions":1248,"alt":7,"copyright":7,"url":1249,"id":1250,"edit":1251},{"width":71,"height":660},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZqOmbx5LeNNTxhpv_Nationalmus%C3%A9eumF%C3%ABschmaart-landscape3_2.jpg?auto=format,compress","ZqOmbx5LeNNTxhpv",{"x":53,"y":53,"zoom":54,"background":836},[1253],{"type":32,"text":1254,"spans":1255,"direction":826},"Nationalmusée um Fëschmaart, Luxembourg © Sophie Whaley",[],"image$60e6c030-caa3-475e-9b8b-dc7f2ca2aff8","How Klimt and Matsch rendered a Ghanaian Prince in turn-of-the-century Vienna","At the Nationalmusée um Fëschmaart in Luxembourg, visitors can discover a mysterious portrait by Franz von Matsch. The Austrian painter, active in Vienna at the turn of the century, was once part of iconic artist Gustav Klimt's inner circle. Both painters seemingly sat side-by-side to portray this enigmatic sitter, recently identified as a Ghanaian Prince. He is also the subject of a long-lost painting by Gustav Klimt, unseen for a century. Most curiously, these portraits shed light on the friendship and break-up between Klimt and Matsch.",{"dimensions":1260,"alt":7,"copyright":7,"url":1261,"id":1262,"edit":1263},{"width":134,"height":135},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZqOnHB5LeNNTxhp-_HiddenGemattheNationalmus%C3%A9eumF%C3%ABschmaart-ImageOpengraph.jpg?auto=format,compress","ZqOnHB5LeNNTxhp-",{"x":53,"y":53,"zoom":54,"background":836},[1265,1345,1350],{"variation":88,"version":89,"items":1266,"primary":1342,"id":1344,"slice_type":176,"slice_label":7},[1267,1276,1285,1296,1306,1315,1324,1332],{"post":1268},{"id":1269,"type":8,"tags":1270,"lang":16,"slug":1272,"first_publication_date":1273,"last_publication_date":1274,"uid":1272,"link_type":66,"key":1275,"isBroken":68},"ZoZklBMAACIAPKk1",[1271],"Francis 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Richter’s market milestones","Late eighties to early nineties paintings",{"link_type":66},{"dimensions":1366,"alt":7,"copyright":7,"url":1367,"id":1368,"edit":1369},{"width":71,"height":72},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZoUgth5LeNNTwvwk_RichterVisualsforArticles2-4-.jpg?auto=format%2Ccompress&rect=137%2C169%2C2572%2C1447&w=3840&h=2160","ZoUgth5LeNNTwvwk",{"x":1370,"y":1371,"zoom":1372,"background":836},137,169,1.24,{"dimensions":1374,"alt":7,"copyright":7,"url":1375,"id":1376,"edit":1377},{"width":72,"height":71},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZo61yB5LeNNTxAFK_Richter_AnalysisArticle_Thumbnail_WhiteV51.jpg?auto=format,compress","Zo61yB5LeNNTxAFK",{"x":53,"y":53,"zoom":54,"background":836},{"dimensions":1379,"alt":7,"copyright":7,"url":1375,"id":1376,"edit":1380},{"width":72,"height":71},{"x":53,"y":53,"zoom":54,"background":836},[1382,1406,1430,1442,1460,1469,1485,1507,1523],{"variation":88,"version":89,"items":1383,"primary":1385,"id":439,"slice_type":102,"slice_label":7},[1384],{},{"title":1386,"content":1389},[1387],{"type":249,"text":99,"spans":1388},[],[1390,1403],{"type":32,"text":1391,"spans":1392,"direction":826},"Throughout his career, German artist Gerhard Richter (b. 1932) continually pushed the boundaries of painting, skillfully transitioning between abstract forms and representational images to create a diverse body of work. The late 1980s and early 1990s marked a pivotal period for Richter, as he developed his signature squeegee technique and rose to international acclaim.",[1393,1401],{"start":1394,"end":1395,"type":263,"data":1396},308,337,{"id":1397,"type":266,"tags":1398,"lang":16,"slug":1399,"first_publication_date":1400,"last_publication_date":1400,"link_type":66,"isBroken":68},"ZmxKyxIAACEAJeVC",[],"signature-squeegee-technique","2024-06-14T13:51:09+0000",{"start":1394,"end":1402,"type":115},336,{"type":32,"text":1404,"spans":1405,"direction":826},"Consequently, paintings created between 1985 and 1994 are highly coveted in Richter's market, generating an impressive $2.1 billion from 295 lots sold between 2004 and 2023. This segment's value nearly doubles Van Gogh's auction market which stands at $1.3 billion from just 66 lots sold over the past two decades.",[],{"variation":570,"version":89,"items":1407,"primary":1419,"id":1429,"slice_type":595,"slice_label":7},[1408],{"image":1409,"title":7,"subtitle":7},{"dimensions":1410,"alt":7,"copyright":7,"url":1413,"id":1414,"edit":1415},{"width":1411,"height":1412},2947,1992,"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZmwFMZm069VX1v1f_RichterVisualsforArticles-28.jpg?auto=format%2Ccompress&rect=181%2C122%2C2585%2C1747&w=2947&h=1992","ZmwFMZm069VX1v1f",{"x":1416,"y":1417,"zoom":1418,"background":836},181,122,1.14,{"image1":1420,"label":7,"copyright":1428},{"dimensions":1421,"alt":7,"copyright":7,"url":1422,"id":1423,"edit":1424},{"width":71,"height":660},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZmwFHJm069VX1v1d_VanGogh%27svsRichterlandscape3_2.jpg?auto=format%2Ccompress&rect=384%2C256%2C3072%2C2048&w=3840&h=2560","ZmwFHJm069VX1v1d",{"x":1425,"y":1426,"zoom":1427,"background":836},384,256,1.25,[],"image$19a02077-12cb-4921-a909-1bdc1a62fbcb",{"variation":88,"version":89,"items":1431,"primary":1432,"id":1441,"slice_type":102,"slice_label":7},[],{"title":1433,"content":1434},[],[1435],{"type":32,"text":1436,"spans":1437,"direction":826},"Richter's works from this period particularly captivated buyers between 2008 and 2012. Notably, Abstraktes Bild (809-4), a painting from 1994, made Richter the most expensive living artist in 2012. Having set several auction records for the artist, these works now occupy nine of his top ten sales.",[1438],{"start":1439,"end":1440,"type":259},96,119,"text$ee13476c-9a3e-4d89-88b8-8238b36170b0",{"variation":570,"version":89,"items":1443,"primary":1452,"id":1459,"slice_type":595,"slice_label":7},[1444],{"image":1445,"title":7,"subtitle":7},{"dimensions":1446,"alt":7,"copyright":7,"url":1449,"id":1450,"edit":1451},{"width":1447,"height":1448},1822,2356,"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZmsJr5m069VX1uYh_RichterVisualsforArticles-21.jpg?auto=format,compress","ZmsJr5m069VX1uYh",{"x":53,"y":53,"zoom":54,"background":836},{"image1":1453,"label":7,"copyright":1458},{"dimensions":1454,"alt":7,"copyright":7,"url":1455,"id":1456,"edit":1457},{"width":660,"height":71},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZmsIppm069VX1uXx_Richter3_2.jpg?auto=format,compress","ZmsIppm069VX1uXx",{"x":53,"y":53,"zoom":54,"background":836},[],"image$9218cfd6-ae59-45d9-9b61-646d8053d5d9",{"variation":88,"version":89,"items":1461,"primary":1462,"id":1468,"slice_type":102,"slice_label":7},[],{"title":1463,"content":1464},[],[1465],{"type":32,"text":1466,"spans":1467,"direction":826},"The market for Richter’s 1985-1994 paintings has shown remarkable resilience, even during the pandemic downturn. In 2020, \"Abstraktes Bild (649-2),\" a 1987 painting, made Richter the most expensive Western artist at an Asian auction when it was acquired by the Pola Museum in Hakone, Japan. By 2021, annual sales in this segment reached their highest level in six years.",[],"text$7275b4de-13b5-4e81-bee5-3e0d41cfb077",{"variation":570,"version":89,"items":1470,"primary":1479,"id":1484,"slice_type":595,"slice_label":7},[1471],{"image":1472,"title":7,"subtitle":7},{"dimensions":1473,"alt":7,"copyright":7,"url":1476,"id":1477,"edit":1478},{"width":1474,"height":1475},2320,1450,"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZoa42h5LeNNTwzGK_Richter_AnalysisArticle_Graph_V1.jpg?auto=format,compress","Zoa42h5LeNNTwzGK",{"x":53,"y":53,"zoom":54,"background":836},{"image1":1480,"label":7,"copyright":1483},{"dimensions":1481,"alt":7,"copyright":7,"url":1476,"id":1477,"edit":1482},{"width":1474,"height":1475},{"x":53,"y":53,"zoom":54,"background":836},[],"image$a61a6c61-9b4c-4c70-a5db-73eb386d5b0a",{"variation":88,"version":89,"items":1486,"primary":1487,"id":1506,"slice_type":102,"slice_label":7},[],{"title":1488,"content":1489},[],[1490,1500],{"type":32,"text":1491,"spans":1492,"direction":826},"Richter's auction records in this category are consistently set by monumental \"Abstrakte Bilder\" (abstract paintings) measuring 200 cm or more. These works have solidified Richter’s status as a central figure in the art market since the 2010s. For more insights, ArtExplored's Focus Report, highlights the evolution of the market for these specific paintings over the last twenty years.",[1493],{"start":1494,"end":1495,"type":263,"data":1496},263,289,{"link_type":1497,"url":1498,"target":1499},"Web","https:\u002F\u002Fartexplored.com\u002Farticle\u002Fartist-report-gerhard-richter","_self",{"type":32,"text":1501,"spans":1502,"direction":826},"In 2017, Richter announced his retirement from painting, concentrating instead on works on paper. He leaves behind an impressive oeuvre, comprising 3,819 paintings created over six decades, a quarter of them between 1985 and 1994. His reputation remains so well-established that for the past decade, at least one museum exhibition featuring his work has been organised worldwide each year.",[1503],{"start":1504,"end":1505,"type":259},129,135,"text$5f9b1e63-e6bb-4f77-8396-1934978a98cb",{"variation":570,"version":89,"items":1508,"primary":1517,"id":1522,"slice_type":595,"slice_label":7},[1509],{"image":1510,"title":7,"subtitle":7},{"dimensions":1511,"alt":7,"copyright":7,"url":1514,"id":1515,"edit":1516},{"width":1512,"height":1513},1811,1641,"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZmsKEpm069VX1uYw_RichterVisualsforArticles.jpg?auto=format,compress","ZmsKEpm069VX1uYw",{"x":53,"y":53,"zoom":54,"background":836},{"image1":1518,"label":7,"copyright":1521},{"dimensions":1519,"alt":7,"copyright":7,"url":1514,"id":1515,"edit":1520},{"width":1512,"height":1513},{"x":53,"y":53,"zoom":54,"background":836},[],"image$34d5dc5f-c92a-438d-8d0f-03d3e4897ef6",{"variation":88,"version":89,"items":1524,"primary":1525,"id":1531,"slice_type":102,"slice_label":7},[],{"title":1526,"content":1527},[],[1528],{"type":32,"text":1529,"spans":1530,"direction":826},"The information in this article has been analysed by ArtExplored and is based on proprietary data.",[],"text$c9d09c01-d732-49d0-9051-f790ca199b2b","Gerhard Richter’s Market Milestones Late Eighties to Early Nineties","Richter’s paintings created between 1985 and 1994 are highly coveted in the art market. 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The first publicly listed Masterpiece on Artex Global Markets. Owned by Art Share 002. © The Estate of Francis Bacon. All right reserved, DACS 2024 \u002F Photo : Tom Lucas \u002F MNAHA",{"dimensions":1732,"alt":7,"copyright":7,"url":1733,"id":1734,"edit":1735},{"width":71,"height":72},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZoZjCB5LeNNTwyJp_Slide16_9-5-.jpg?auto=format,compress","ZoZjCB5LeNNTwyJp",{"x":53,"y":53,"zoom":54,"background":836},{"dimensions":1737,"alt":7,"copyright":7,"url":1738,"id":1739,"edit":1740},{"width":72,"height":71},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZoamfR5LeNNTwy5c_9_16-2-.jpg?auto=format,compress","ZoamfR5LeNNTwy5c",{"x":53,"y":53,"zoom":54,"background":836},{"dimensions":1742,"alt":7,"copyright":7,"url":1738,"id":1739,"edit":1743},{"width":72,"height":71},{"x":53,"y":53,"zoom":54,"background":836},"2024-07-04",[1746,1766,1788,1810,1827],{"variation":88,"version":89,"items":1747,"primary":1748,"id":1765,"slice_type":102,"slice_label":7},[],{"title":1749,"content":1750},[],[1751,1754,1759,1762],{"type":32,"text":1752,"spans":1753,"direction":826},"“Three Studies for Portrait of George Dyer” (1963), a triptych by Francis Bacon (1909-1992), joined the MNAHA’s Nationalmusée um Fëschmaart’s extensive Modern and Contemporary art collection on 25th June 2024. On loan to the institution for the next two years, this is the only work by the British painter to be exhibited in Luxembourg.",[],{"type":32,"text":1755,"spans":1756,"direction":826},"Art connections reimagined",[1757],{"start":53,"end":1758,"type":259},26,{"type":32,"text":1760,"spans":1761,"direction":826},"After years of renovation, the museum’s Modern and Contemporary section reopened in March 2024 with a new thematic display entitled “Collections\u002FRevelations”. Instead of adhering to a typical chronological approach, curator Ruud Priem aimed to foster dialogue among artworks spanning different periods. Observant visitors will notice the connections between pieces that resonate with each other in one way or the other. For instance, juxtaposed bourgeois portraits from the late 19th century, highlighting a certain wealth and social status, face Aida Silvestri’s blurred photographs of Eritrean refugees who lost all their possessions and relationships when fleeing their homeland, explains Priem.",[],{"type":32,"text":1763,"spans":1764,"direction":826},"Together, works from the collection take on a new dimension and offer an overall narrative around five themes: Chaos, Nature, Forms and Shapes, Colour, and Faces.",[],"text$77aa420a-ca9c-439c-bfee-4c8e3fd8e774",{"variation":622,"version":89,"items":1767,"primary":1768,"id":1787,"slice_type":595,"slice_label":7},[],{"image1":1769,"image2":1776,"label":670,"copyright":1783},{"dimensions":1770,"alt":7,"copyright":7,"url":1773,"id":1774,"edit":1775},{"width":1771,"height":1772},4423,6463,"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZoZ6XR5LeNNTwyb6_2017-246-002a--.jpg?auto=format,compress","ZoZ6XR5LeNNTwyb6",{"x":53,"y":53,"zoom":54,"background":836},{"dimensions":1777,"alt":7,"copyright":7,"url":1780,"id":1781,"edit":1782},{"width":1778,"height":1779},4380,6324,"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZoZ6Sh5LeNNTwyb4_2017-246-001a--.jpg?auto=format,compress","ZoZ6Sh5LeNNTwyb4",{"x":53,"y":53,"zoom":54,"background":836},[1784],{"type":32,"text":1785,"spans":1786,"direction":826},"Aida Silvestri (b. 1978), Kidan. Eritrea to London on foot, by car, lorry, boat train and aeroplane, 2017 © Collection MNAHA, Photo: Tom Lucas; Aida Silvestri (b. 1978), Biniam. Eritrea to London by car, boat, lorry, train and aeroplane, 2017 © Collection MNAHA, Photo: Tom Lucas",[],"image$af33763b-bb06-4f72-8234-5c3a44222c01",{"variation":88,"version":89,"items":1789,"primary":1790,"id":1809,"slice_type":102,"slice_label":7},[],{"title":1791,"content":1792},[],[1793,1798,1801,1806],{"type":32,"text":1794,"spans":1795,"direction":826},"A Francis Bacon in resonance",[1796],{"start":53,"end":1797,"type":259},28,{"type":32,"text":1799,"spans":1800,"direction":826},"In this latest chapter, one of the new faces is Francis Bacon’s muse and lover, George Dyer—portrayed three times over. This emotionally charged triptych goes beyond the model’s physical appearance to explore the complexities of his inner self. Severely contorted, the shifting faces have much to say about Dyer’s personality. He looks simultaneously strong, almost raging, yet also fragile and profoundly distressed. This painting is also a key element in the artist’s relationship with his muse. Bacon had met Dyer a few months prior, and this work marks the very first portrait he created of him. More reminiscent of muscle and tissue than skin, the painting’s raw, carnal quality aligns with Bacon’s general concerns about human mortality. Deviating from traditional representations, this troubling depiction is positioned near the “Chaos” section, resonating with its thematic surroundings.",[],{"type":32,"text":1802,"spans":1803,"direction":826},"Portraits in the post-war era",[1804],{"start":53,"end":1805,"type":259},29,{"type":32,"text":1807,"spans":1808,"direction":826},"Portraits were central to Bacon’s practice. However, after the Second World War, this age-old genre was not widespread among celebrated artists who mainly explored non-figurative tendencies. A self-taught painter, Francis Bacon managed to revive the art of portraiture, which, as well as being out of fashion, had been severely impacted by the growing accessibility of photography. Bacon’s disturbing imagery is among the most poignant portrayals of humankind and earned him widespread acclaim early in his career. Meanwhile, other artists who adopted a more traditional approach to portraiture found their works less popular and often overlooked, despite their inherent quality. Such is the case of Swedish painter Owe Zerge (1894-1983) whose outdated aesthetic of smooth, ultra-realistic painting failed to win him recognition. Today, one of Zerge’s well-dressed young boys sits next to Bacon's triptych portrait but appears too absorbed in introspection to even notice Dyer's recent arrival.",[],"text$aa285098-521e-418b-b095-04ce0110d44c",{"variation":570,"version":89,"items":1811,"primary":1812,"id":1826,"slice_type":595,"slice_label":7},[],{"image1":1813,"label":7,"copyright":1822},{"dimensions":1814,"alt":7,"copyright":7,"url":1817,"id":1818,"edit":1819},{"width":1815,"height":1816},5315,4100,"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZoZ64h5LeNNTwycI__TOM7054.jpg?auto=format%2Ccompress&rect=1519%2C315%2C3796%2C2928&w=5315&h=4100","ZoZ64h5LeNNTwycI",{"x":1607,"y":1820,"zoom":1821,"background":836},315,1.21,[1823],{"type":32,"text":1824,"spans":1825,"direction":826},"Francis Bacon (1909-1992), Three Studies for Portrait of George Dyer, 1963, oil on canvas, in three parts, 35.5 x 30.5 cm (each) © The Estate of Francis Bacon. All right reserved, DACS 2024 (left) and Owe Zerge (1894-1983), Portrait représentant Bertil (right). Photo : Tom Lucas \u002F MNAHA",[],"image$67cd7379-8d83-496e-a923-017578121246",{"variation":88,"version":89,"items":1828,"primary":1829,"id":1845,"slice_type":102,"slice_label":7},[],{"title":1830,"content":1831},[],[1832,1837],{"type":32,"text":1833,"spans":1834,"direction":826},"An artwork loaned by the public",[1835],{"start":53,"end":1836,"type":259},31,{"type":32,"text":1838,"spans":1839,"direction":826},"On loan from Art Share 002, “Three Studies for Portrait of George Dyer” (1963) is the first publicly owned artwork, with its shares trading on a regulated exchange compliant with the European MiFID II legislative framework. A new initiative to democratise art and broaden access to investing in iconic masterpieces is now complemented by the physical artwork's accessibility to all. As visitors stroll through the galleries of the Nationalmusée um Fëschmaart, they can contemplate a public collection of art. For the first time, they also can appreciate a painting they can choose to co-own.",[1840],{"start":1841,"end":1842,"type":263,"data":1843},224,240,{"link_type":1497,"url":1844,"target":1499},"https:\u002F\u002Fwww.artexgm.com","text$70395200-3677-4f7f-bc3b-bbed1b241602","Francis Bacon's portrait of George Dyer is the new face at Luxembourg's Nationalmusée um Fëschmaart","“Three Studies for Portrait of George Dyer” (1963), a triptych by Francis Bacon (1909-1992), joined the MNAHA’s Nationalmusée um Fëschmaart’s extensive Modern and Contemporary art collection on 25th June 2024. On loan to the institution for the next two years, this is the only work by the British painter to be exhibited in Luxembourg. On loan from Art Share 002, “Three Studies for Portrait of George Dyer” (1963) is the first publicly owned artwork, with its shares trading on ARTEX Global Markets, a regulated exchange. This new initiative to democratise art and broaden access to investing in iconic masterpieces is now complemented by the physical artwork's accessibility to all.",{"dimensions":1849,"alt":7,"copyright":7,"url":1850,"id":1851,"edit":1852},{"width":134,"height":135},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002FZpTyAB5LeNNTxJwp_FrancisBaconnationalmus%C3%A9eImageOpengraph.jpg?auto=format,compress","ZpTyAB5LeNNTxJwp",{"x":53,"y":53,"zoom":54,"background":836},[],{"slice":177,"payload":1855},[1856,2003,2103,2253],{"id":1857,"uid":1858,"url":7,"type":181,"href":1859,"tags":1860,"first_publication_date":1861,"last_publication_date":1862,"slugs":1863,"linked_documents":1869,"lang":16,"alternate_languages":1870,"data":1871},"ZBGaLhAAACgAzxTK","conservator-julia-nagal-discusses-how-restoring-paintings","https:\u002F\u002Fartexplorer-prod.cdn.prismic.io\u002Fapi\u002Fv2\u002Fdocuments\u002Fsearch?ref=aCb60BIAACEA00zN&q=%5B%5B%3Ad+%3D+at%28document.id%2C+%22ZBGaLhAAACgAzxTK%22%29+%5D%5D",[1336],"2023-03-16T16:45:51+0000","2023-08-31T21:35:17+0000",[1864,1865,1866,1867,1868],"julia-nagle-how-is-science-improving-art-conservation-techniques","how-is-science-improving-art-conservation-techniques","how-is-science-improving-art-restoration-techniques","how-has-the-art-restoration-industry-changed-over-the-last-couple-of-decades","how-restoring-paintings-has-changed-over-the-last-couple-of-decades",[],[],{"title":1872,"subtitle":7,"color":7,"source":1873,"published_at":1881,"duration":1882,"cover":1883,"copyright_cover":7,"description":1888,"narrator_copyright":1892,"music_copyright":7,"mixing_copyright":7,"deezer_external":1893,"spotify_external":1895,"apple_podcast_external":1898,"slices":1899,"meta_title":1959,"meta_description":1960,"og_image":1961,"slices2":1967},"Julia Nagle: How is science improving art conservation techniques?",{"link_type":1874,"key":1875,"kind":1876,"id":1877,"url":1878,"name":1879,"size":1880},"Media","8c69021d-e7d2-4b86-a666-c5f5321d6575","file","ZJL5khEAACkAEYIk","https:\u002F\u002Fartexplorer-prod.cdn.prismic.io\u002Fartexplorer-prod\u002F20903495-2838-423f-86f5-5007e709f134_230616_ARTEXPLORED_AUDIOCAST_JULIA_NAGEL.mp3","230616_ARTEXPLORED_AUDIOCAST_JULIA_NAGEL.mp3","8512043","2023-08-10",713,{"dimensions":1884,"alt":7,"copyright":7,"url":1885,"id":1886,"edit":1887},{"width":72,"height":72},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002Ff5376d69-fccc-487a-bbe5-8e4c2e0e37eb_carr%C3%A9.jpg?auto=compress,format","ZK_u3hIAACMAafCn",{"x":53,"y":53,"zoom":54,"background":55},[1889],{"type":32,"text":1890,"spans":1891},"Julia Nagle set up her own studio in 2009 (Julia Nagle Conservation) and it is now the official conservator for Frieze Masters and Frieze London art fairs, while it also works with private collectors, insurers, commercial galleries, and public institutions worldwide. Julia explains how restoration and conservation techniques have advanced over the years.",[],"George Nelson, Julia Nagle",{"link_type":1894},"Any",{"link_type":1497,"key":1896,"url":1897},"2531dc00-3195-417a-b368-e3efdfc12181","https:\u002F\u002Fopen.spotify.com\u002Fepisode\u002F6m3DK4JetPQ5UJnx0GVG0x",{"link_type":1894},[1900],{"variation":88,"version":89,"items":1901,"primary":1956,"id":1957,"slice_type":1958,"slice_label":7},[1902,1908,1914,1920,1926,1931,1936,1941,1946,1951],{"speaker":1903,"content":1904},"GN ",[1905],{"type":32,"text":1906,"spans":1907},"Hi Julia, thanks for talking to me today. Before we start, just to avoid any confusion, could you please explain the difference between a conservator and a restorer? ",[],{"speaker":1909,"content":1910},"JN ",[1911],{"type":32,"text":1912,"spans":1913},"A conservator is just a bit more of a modern term, but we also say restorer as well because people often don’t know what you mean. So, it’s just a more modern term because what we’re trying to do is really preserve things and sort of protect them as opposed to actually take them back in time to some previous state, so we sort of acknowledge the fact that ageing happens for example, by calling ourselves conservators a bit more than restorers.  ",[],{"speaker":1915,"content":1916},"GN",[1917],{"type":32,"text":1918,"spans":1919},"How quickly is conservation developing and have there been any scientific or technological breakthroughs in the last few years, few decades, that have been real game changers for the industry? ",[],{"speaker":1921,"content":1922},"JN",[1923],{"type":32,"text":1924,"spans":1925},"Technical art history is a discipline that has grown over the last 20 years, 30 years possibly and we’ve got all sorts of methods of analysing paint films without destroying the painting itself and imaging and things like using X-rays, all sorts of different technologies to understand what’s actually in a painting in the first place. And also to see when we’ve cleaned a surface, for example, you can look at it with a scanning electron microscope and you can see on a massively enlarged image, quite what you’ve actually done to the surface of the painting that might not be visible to the naked eye. So, you can really fine-tune your own techniques to ensure that what you’ve done hasn’t sort of leached a paint film or scratched it microscopically or anything like that. So, I think, possibly, for me anyway, I would say, the kind of analysis and the imaging and the understanding of what you’re actually doing on a much finer level than what the eye can just see is just huge. I mean there have been really important breakthroughs on how to clean acrylic paints because they’re fairly new, they’ve really been in use since about the 1950s and they do respond very differently to water compared to oil paints, for example. So, there’s been a huge amount of research there. A lot of it was EU-funded so I don’t know how that will carry on now, but there’ve been some interesting breakthroughs in nanotechnology and introducing gels for using water in a safe way, not as a liquid, but you can take dirt off of very complex surfaces using gels rather than using liquid water, so yeah, just even sort of technologies on how to safely use water and how to adjust, very finely tune the PH of water so that you can safely clean a film that you might not be able to clean otherwise and so really sort of fine adjustments with our own materials.  ",[],{"speaker":1915,"content":1927},[1928],{"type":32,"text":1929,"spans":1930},"Do you have a preference regarding a particular period or movement when it comes to conservation?  ",[],{"speaker":1921,"content":1932},[1933],{"type":32,"text":1934,"spans":1935},"I really loved working with older paintings, I really, really enjoyed my time doing that. I did it for about 10 years so it’s not that I dislike it, but it’s just fascinating working with modern artists and contemporary artists, and I think as a female, there are fantastic older ladies working… it’s a much less sort of a sexist world I think nowadays, and you know there are many, many more artists from different backgrounds and a lot, lot more women artists now who are recognised and that’s been fantastic working with them. I find a lot of the older women really, really inspiring. So, we’ve worked with Faith Ringgold at the Serpentine and Caroline Kunsman we worked with recently, and I think it’s really interesting the messages that people have got. I mean they are, the art there is, it's expressing our modern culture and expressing kind of issues of the day, and so as I really enjoy that side of it as well and understanding what messages people are trying to put forward and helping them to do that where we can. Also, there’s a lot of research that has to go into understanding what the artist’s intention was. Which is all really interesting and fun to do but it’s also great when you can just ask the artist and they’re there as well. I think it’s a really nice collaboration and I think one thing that I found which I think would surprise quite a lot of people is how much contemporary artists are really interested in their materials and interested in their techniques. And I really want to support artists, that’s what we are trying to do. We’re trying to get the art out there, trying to support artists and having their work exhibited in the way they want it to be seen and there are some really important messages to be understood from it.",[],{"speaker":1915,"content":1937},[1938],{"type":32,"text":1939,"spans":1940},"You mentioned to me before we started speaking, Julia, that you once worked on a painting that had been vandalised by someone’s lover in a jealous fit of rage, like a very intense lovers’ tiff I think. Can you just explain a bit more about that story? ",[],{"speaker":1921,"content":1942},[1943],{"type":32,"text":1944,"spans":1945},"A lovers’ tiff..... the person took bathroom paint, red bathroom paint and painted in big letters, big angry letters all over a painting, so that took a huge amount of time to remove the paint from the original painting but we did manage to do that. But yes, when someone’s angry as well they really press the paint in. So, we ended up using a porcupine spine to pick out tiny bits of paint from bubbles in the paint film where it kind of got pressed into these little crevasses in the paint film so we used a porcupine spine under the microscope to pick out all these little spots of paint to clean it. ",[],{"speaker":1915,"content":1947},[1948],{"type":32,"text":1949,"spans":1950},"Do you have a favourite painting that you’ve ever restored or conserved and if so, why, why is it that painting? ",[],{"speaker":1921,"content":1952},[1953],{"type":32,"text":1954,"spans":1955},"It’s very hard to say because you because it’s very hard to have a favourite and to pick out a favourite. It’s a great privilege to be able to touch what we can’t afford and to spend that one-on-one time, intimate time with great artists. So, you know, sitting in front of a Picasso, I had to clean off fly spots, fly faeces basically for a whole day but you’re sitting with a wonderful painting and so it’s always a privilege to work with wonderful art, and to have that one-on-one relationship, even if it’s for a temporary period.  ",[],{},"text_interview$78ced8c2-13ce-4812-b9d5-51bfdc9511f9","text_interview","How is science improving art restoration techniques?","Conservator Julia Nagle discusses how restoring paintings has changed over the the last couple of decades.",{"dimensions":1962,"alt":1963,"copyright":7,"url":1964,"id":1965,"edit":1966},{"width":134,"height":135},"ArtExplored audiocast with art conservator Julia Nagle","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F3f6680c6-48db-447c-93da-63b1e3a18f2d_Audiocast+Opengraph+How+is+science+improving+art+restoration+techniques_.jpg?auto=compress,format","ZK_XhhIAACAAaY5G",{"x":53,"y":53,"zoom":54,"background":55},[1968,1995],{"variation":88,"version":89,"items":1969,"primary":1991,"id":1994,"slice_type":176,"slice_label":7},[1970,1974,1978,1987],{"post":1971},{"id":452,"type":181,"tags":1972,"lang":16,"slug":454,"first_publication_date":455,"last_publication_date":456,"uid":457,"link_type":66,"key":1973,"isBroken":68},[11],"c92e69d3-bca4-491e-ac2e-6fa3b6471f0e",{"post":1975},{"id":461,"type":181,"tags":1976,"lang":16,"slug":464,"first_publication_date":465,"last_publication_date":466,"uid":467,"link_type":66,"key":1977,"isBroken":68},[463],"711747af-eeb9-4c96-97ff-07fc86220bf2",{"post":1979},{"id":1980,"type":181,"tags":1981,"lang":16,"slug":1982,"first_publication_date":1983,"last_publication_date":1984,"uid":1985,"link_type":66,"key":1986,"isBroken":68},"ZB3OZRAAACIAzkAv",[463,350],"jorella-andrews-a-phenomenological-take-on-paul-cezanne","2023-03-24T16:23:05+0000","2023-08-31T21:35:53+0000","a-phenomenological-take-on-cezanne","ba5d08c2-33f6-41e6-9140-b21c37ae3e2d",{"post":1988},{"id":471,"type":181,"tags":1989,"lang":16,"slug":473,"first_publication_date":474,"last_publication_date":475,"uid":476,"link_type":66,"key":1990,"isBroken":68},[164],"677f4679-52cb-40f8-82af-e86b677756bb",{"slides_per_view":1574,"max_slides_count":1574,"tag":1992,"type":181,"title":1993,"paralax":7},{"link_type":66},"More Audiocast","carousel$a3497cfe-0f72-49d4-871f-4d5b7a083b9d",{"variation":88,"version":89,"items":1996,"primary":1999,"id":2002,"slice_type":176,"slice_label":7},[1997],{"post":1998},{"link_type":66},{"slides_per_view":1574,"max_slides_count":171,"tag":2000,"type":8,"title":2001,"paralax":7},{"link_type":66},"Explore","carousel$37958bb9-5f44-4ea6-8ace-820083cac27c",{"id":452,"uid":457,"url":7,"type":181,"href":2004,"tags":2005,"first_publication_date":455,"last_publication_date":456,"slugs":2006,"linked_documents":2008,"lang":16,"alternate_languages":2009,"data":2010},"https:\u002F\u002Fartexplorer-prod.cdn.prismic.io\u002Fapi\u002Fv2\u002Fdocuments\u002Fsearch?ref=aCb60BIAACEA00zN&q=%5B%5B%3Ad+%3D+at%28document.id%2C+%22ZHc1QRAAACUAkmFm%22%29+%5D%5D",[11],[454,2007,457],"is-art-a-good-hedge-against-inflation",[],[],{"title":2011,"subtitle":7,"color":7,"source":2012,"published_at":7,"duration":2018,"cover":2019,"copyright_cover":7,"description":2024,"narrator_copyright":2028,"music_copyright":7,"mixing_copyright":7,"deezer_external":2029,"spotify_external":2030,"apple_podcast_external":2033,"slices":2034,"meta_title":2086,"meta_description":2087,"og_image":2088,"slices2":2094},"Ludovic Subran: Is art a good hedge against inflation?",{"link_type":1874,"key":2013,"kind":1876,"id":2014,"url":2015,"name":2016,"size":2017},"7fa8ae55-8590-4af5-86f7-7dd025f71e80","ZJL3CBEAACgAEXYE","https:\u002F\u002Fartexplorer-prod.cdn.prismic.io\u002Fartexplorer-prod\u002Fafad441f-2150-4d4b-9fec-c1f9d51604ea_230616_ARTEXPLORED_AUDIOCAST_LUDOVIC_SUBRAN.mp3","230616_ARTEXPLORED_AUDIOCAST_LUDOVIC_SUBRAN.mp3","9661355",603,{"dimensions":2020,"alt":7,"copyright":7,"url":2021,"id":2022,"edit":2023},{"width":72,"height":72},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F1d826534-1e01-4f9b-a802-3e4c69cf46f5_carr%C3%A9-4.jpg?auto=compress,format","ZK_u3hIAACIAafCl",{"x":53,"y":53,"zoom":54,"background":55},[2025],{"type":32,"text":2026,"spans":2027},"ArtExplored's finance and markets editor Robert Budden talks to Ludovic Subran, the chief economist at Allianz SE, about the damaging effects inflation can have on investment strategies and art's proven record as a hedge against rising prices. ",[],"Robert Budden, Ludovic Subran",{"link_type":1894},{"link_type":1497,"key":2031,"url":2032},"c548a504-03e8-44b6-86cb-169f1613dd7a","https:\u002F\u002Fopen.spotify.com\u002Fepisode\u002F7EDbEuCntvDhUUUYH5lfMh",{"link_type":1894},[2035],{"variation":88,"version":89,"items":2036,"primary":2084,"id":2085,"slice_type":1958,"slice_label":7},[2037,2043,2049,2054,2059,2064,2071,2076],{"speaker":2038,"content":2039},"RB",[2040],{"type":32,"text":2041,"spans":2042},"Inflation is something we’ve forgotten about for quite a long time because we haven’t had much of it. Then, it came back with a vengeance. Can you remind us why inflation is important and why investors should be concerned about it?",[],{"speaker":2044,"content":2045},"LS",[2046],{"type":32,"text":2047,"spans":2048},"Inflation is significant because it complicates everybody’s job. It complicates the investor’s job to yield returns. It complicates the household spending budget. It makes policymakers worried about how to finance social protection. It makes companies look after their margins like a hawk. Inflation is bad because it means the price of money is decreasing.\n\nIt’s true for the past ten years, and some may say since the 70s, at least in our part of the world, like in the US and Europe, that we haven’t seen much inflation. Recently, it has become a concern for investors because inflation can impact the value of their investments. When prices rise, the purchasing power of money decreases, which can lead to a loss in the real value of your investments. Even if an investment rises in price, if that price rise is less than the inflation rate, then the investor has lost money. That’s the direct effect. \n\nThe response to inflation is also through an increase in interest rates. Of course, an increase in interest rates leads to higher financing costs. If you want to use a bit of a mortgage to buy a house, or if you want to use some debt to invest, you’re also losing on that front, which is the overall cost of financing is much higher these days than it used to be just 12 months ago. It’s mostly through the value and the returns and, maybe, through the leverage angle that we see inflation bite investors. It’s creating concerns today about the future returns of investments.",[],{"speaker":2038,"content":2050},[2051],{"type":32,"text":2052,"spans":2053},"If you are a long-term investor, ideally, you want an investment that will give you a good real return above inflation. What investments are best to protect you in an inflation environment? And would you include our investments in those?",[],{"speaker":2044,"content":2055},[2056],{"type":32,"text":2057,"spans":2058},"There are many ways of investing during inflation. Beyond the more alternative investment space, like art or good wine, you have real estate, for example. Investing in a property with rental income is a good hedge against inflation because rental spaces are indexed on inflation (because the rent price is indexed on inflation). Even in the bond markets, with so-called inflation-linked bonds, you can buy a protection, a hedge. \n \n Also, in the vanilla bond market, to protect your returns and your payment of coupons from inflation, the equity market is known to be – when inflation is not too high – a good hedge against inflation. This is because you expect that those companies in the stock market should outperform the cost of inflation. They should pass on some of the increasing costs to the customers through pricing power and still make margins. Your investments should benefit from that. Many investments can be tweaked to become inflation-proof in a way. \n \n What I find interesting is that when you look historically, art has been a good hedge against inflation. The numbers are there to show it. It depends on the geography and how you account for it because there are different costs associated with it and various types of art. But if you go for quality and a buy-and-hold strategy and manage the overall cost of the transaction, art has proven to be quite resilient to higher inflation periods.",[],{"speaker":2038,"content":2060},[2061],{"type":32,"text":2062,"spans":2063},"Was that also true in higher inflation periods like the 70s?",[],{"speaker":2044,"content":2065},[2066,2069],{"type":32,"text":2067,"spans":2068},"It’s hard to know. There are a few long-term studies. Christoph Spaniers, a researcher at the University of Leeds, says you can look at art as giving good returns but there will be differences between countries and areas of art. \n\nOverall, it has worked over the past 30, 40, and 50 years. As you can imagine, the art market is less liquid than others. You don’t see as much price discovery as in the SP500, the FTSE, or some of the indices that have been there for some time. \n\nMore recently, in the last year, we’ve seen a surge in inflation. It’s spectacular - that’s why people have been talking about the 70s. But it’s a very different moment. \n\nCentral banks are much more serious about killing inflation. We don’t have the same competitive environment or wage indexation. There is no wage-price spiral we saw in the 70s. Maybe we will also be more cognisant of fiscal spending than in the 70s. \n\nBut who would have thought that we would have 10% inflation in the Western Hemisphere, right? It has made many people look back into, for example, the performance of art in the long run when diversifying the portfolio and how much people have been making from this investment. \n\nIn the long run, contemporary art has shown a strong price appreciation of close to 15% over the past 30 years. Even during periods of high inflation, it does compare quite well to the equity market, which is usually ten, or real estate, which is also ten, and also for gold, which is in the tune of seven or eight. \n\nThere is a form of resilience and a good investment in periods of high inflation of blue chip art compared to the variability of the overall transaction.",[],{"type":32,"text":992,"spans":2070},[],{"speaker":2038,"content":2072},[2073],{"type":32,"text":2074,"spans":2075},"It’s unusual where we are now, with the economies slowing in many countries worldwide, with interest rates rising and the edging away of central banks pumping money into the economy. What does all this mean for art markets and investment markets?",[],{"speaker":2044,"content":2077},[2078],{"type":32,"text":2079,"spans":2080},"This is where you get the second aspect of inflation that could worry people. When you have lower growth and high inflation, people worry about their income’s purchasing power. \n\nArt is an investment you usually make after investing in more traditional things. It’s more something you do in a layered and structured approach, like with residual savings. \n\nWe’ve seen, for example, people turning to art because they had excess hoarding from COVID. They weren’t going out or travelling. They had extra savings to put into art. Of course, since then, inflation has eroded some of these excess savings and they had to tap into their more liquid investments to ensure they could protect their living standards.\n\nThe good news for the art market is this hedonistic dividend. The idea is that you put money into art not only because you expect solid, regular returns, like in the bond market. You don’t invest in art as you invest in the equity market because you believe in a company’s strategy and you’ve seen this company and its management making good decisions. \n\nWhen you invest in art there is a sense of je ne sais quoi, as we say in French, which is emotional, refined and one of the reasons why it is a resilient segment. It has continued to attract Gen Z, for example. We’ve seen several new platforms that show, just like the Robin Hood generation when it came to equity investment in the US, more young people are interested in this form of investment. This is despite the income and wealth shock of ’22 and relative fears about the recession, higher financing costs and central banks not being done with increasing interest rates. \n\nThe sentiment is not as good, but there is a form of resilience among investors, especially in the segment of investors educated about art. They know why they go there and are not necessarily looking for high-frequency trading, trying to time the market, but more into a buy-and-hold strategy. They know this investment will be a positive one for their portfolio in the long run, a bit diversifying because it’s not as correlated as the other asset classes.",[2081],{"start":2082,"end":2083,"type":259},1106,1122,{},"text_interview$3b969a72-6120-4632-baed-d07430cdce58","Is art a good hedge against inflation?","Ludovic Subran highlights art's proven record as a hedge against rising prices",{"dimensions":2089,"alt":2090,"copyright":7,"url":2091,"id":2092,"edit":2093},{"width":134,"height":135},"Art Explored audiocast with Ludovic Subran, the chief economist at Allianz SE","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002Ff4eafce7-614a-469a-8ea3-2f61431c4c1d_Audiocast+Opengraph+Is+art+a+good+hedge+against+inflation+_.jpg?auto=compress,format","ZK_XhhIAACMAaY5F",{"x":53,"y":53,"zoom":54,"background":55},[2095],{"variation":88,"version":89,"items":2096,"primary":2099,"id":2102,"slice_type":176,"slice_label":7},[2097],{"post":2098},{"link_type":66},{"slides_per_view":7,"max_slides_count":7,"tag":2100,"type":181,"title":2101,"paralax":7},{"link_type":66},"Explore Audiocasts","carousel$ee4f582c-a0fd-486b-99f6-2ee753e8198d",{"id":471,"uid":476,"url":7,"type":181,"href":2104,"tags":2105,"first_publication_date":474,"last_publication_date":475,"slugs":2106,"linked_documents":2112,"lang":16,"alternate_languages":2113,"data":2114},"https:\u002F\u002Fartexplorer-prod.cdn.prismic.io\u002Fapi\u002Fv2\u002Fdocuments\u002Fsearch?ref=aCb60BIAACEA00zN&q=%5B%5B%3Ad+%3D+at%28document.id%2C+%22ZBNBcxAAACMAXuYT%22%29+%5D%5D",[164],[473,2107,2108,2109,2110,2111],"why-are-the-eyes-in-modiglianis-paintings-so-mysterious","modiglianis-enduring-appeal-and-spotting-his-fakes","why-are-amedeo-modiglianis-paintings-so-captivating","why-is-amedeo-modiglianis-work-so-captivating-and-why-do-so-many-art-forgers-copy-his-work","why-does-amedeo-modigliani-have-such-enduring-appeal...-and-why-do-so-many-art-forgers-copy-his-work",[],[],{"title":2115,"subtitle":7,"color":2116,"source":2117,"published_at":7,"duration":2123,"cover":2124,"copyright_cover":7,"description":2129,"narrator_copyright":2133,"music_copyright":7,"mixing_copyright":7,"deezer_external":2134,"spotify_external":2135,"apple_podcast_external":2138,"slices":2139,"meta_title":2215,"meta_description":2216,"og_image":2217,"slices2":2223},"Simonetta Fraquelli & Annette King: Modigliani's enduring appeal and spotting his fakes!","#ffd9a5",{"link_type":1874,"key":2118,"kind":1876,"id":2119,"url":2120,"name":2121,"size":2122},"d823dcd3-c84c-4065-857d-92c552cbbe33","ZJQkvhEAACkAFt8n","https:\u002F\u002Fartexplorer-prod.cdn.prismic.io\u002Fartexplorer-prod\u002Fa63fe7fc-00bf-448e-b33f-17349a947691_230616_ARTEXPLORED_AUDIOCAST_SIMONETTA_FRAQUELLI.mp3","230616_ARTEXPLORED_AUDIOCAST_SIMONETTA_FRAQUELLI.mp3","9859499",600,{"dimensions":2125,"alt":7,"copyright":7,"url":2126,"id":2127,"edit":2128},{"width":72,"height":72},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F7e5f9781-4dfb-4dcc-9c8c-93373690ccd5_carr%C3%A9-1.jpg?auto=compress,format","ZK_u3hIAACEAafCo",{"x":53,"y":53,"zoom":54,"background":55},[2130],{"type":32,"text":2131,"spans":2132},"ArtExplored's North American art writer Will Corwin discusses why Modigliani's work continues to be so popular, his use of colour, and his subjects' mysterious eyes with Simonetta Fraquelli and Annette King, the co-curators of Modigliani Up Close, the artist's retrospective at the Barnes Foundation in Philadelphia. ",[],"George Nelson, William Corwin, Simonetta Fraquelli, and Annette King",{"link_type":1894},{"link_type":1497,"key":2136,"url":2137},"07d80b36-a779-4f2b-a26d-6c64c1999b5f","https:\u002F\u002Fopen.spotify.com\u002Fepisode\u002F3hgiJBJvW5wc5Xtl7Jsz5f",{"link_type":1894},[2140],{"variation":88,"version":89,"items":2141,"primary":2213,"id":2214,"slice_type":1958,"slice_label":7},[2142,2148,2154,2159,2167,2173,2178,2183,2188,2193,2198,2203,2208],{"speaker":2143,"content":2144},"WC",[2145],{"type":32,"text":2146,"spans":2147},"Hi Simonetta and Annette, can you start by telling us why now is the right time for a Modigliani exhibition at the Barnes Foundation?",[],{"speaker":2149,"content":2150},"SF",[2151],{"type":32,"text":2152,"spans":2153},"Annette and I both contributed and worked on an exhibition that was held at the Tate in 2017, a major Modigliani retrospective. And when we were working on that together with our colleague Nancy Ireson, we started looking at the technical conservation aspects of all the paintings, and we convinced the lenders to that exhibition to also look at their works. And from there came a series of articles that were published in the Burlington and further studies. And when the opportunity came at the Barnes to do a show, we felt that given that they had such a great collection of Modiglianis which had hitherto not been studied and which could benefit from being in a way catalogued and looked at carefully, also from a conservator’s point of view, we thought this was kind of a unique opportunity to build on what we had already done with the previous show and the previous research and to bring together a new group of paintings and to kind of further this work on the artist, which does open new kinds of avenues of research and understanding and really to be able to move forward with the artist in a way that had hitherto not be done, at least prior to the Tate show.",[],{"speaker":2143,"content":2155},[2156],{"type":32,"text":2157,"spans":2158},"So, what is it about Modigliani’s work that gives him such enduring appeal?",[],{"speaker":2160,"content":2161},"AK",[2162,2165],{"type":32,"text":2163,"spans":2164},"He's an amazing colourist, so the colours really appeal and he seems to capture the essence of the subject without being too realistic or too representational but also there's a real elegance of form and because he was a classically trained artist, the more we looked at these paintings, the more we realised that he was bringing that to the paintings so they have a very pleasing harmony which may not first be evident. So, I think there's a lot about his paintings that really do appeal. And the sculptures.  ",[],{"type":32,"text":992,"spans":2166},[],{"speaker":2168,"content":2169},"SM",[2170],{"type":32,"text":2171,"spans":2172},"If I can also add to that in terms of his appeal, I mean, he's an artist who since the early 1920s and shortly after his death became a favourite both with collectors and with the public. And that has endured, as Annette says, all the way through. He was always a little bit outside of any specific group. I mean, he wasn't connected with the Futurists or the Surrealists or the Cubists, and he forged his own path, which I think has been one that the general viewer has been able to connect with in a way that perhaps other artists have not been so accessible. His art is in many ways, even though I think it seems very on the surface, simple and direct, is actually, as our conservation studies have shown, much more sophisticated and much more worked out than maybe one would immediately think.",[],{"speaker":2143,"content":2174},[2175],{"type":32,"text":2176,"spans":2177},"As curators, how did you strike a balance between the formal assessment of his artworks and the technical scientific viewpoints, which have such a strong focus in the show?",[],{"speaker":2160,"content":2179},[2180],{"type":32,"text":2181,"spans":2182},"So, as we mentioned, the Tate exhibition was the beginning of this project and close looking has always been an important part of the conservator’s role, but also an art historian's role. And as we discussed the paintings, we were looking at very different aspects of the paintings, but bringing them together gave us a much more rounded view of each work and then connecting with all the other conservators and curators from the lending institutions we realised that we could then extend the story of each painting into a much more rounded view of his development, his career. And it just made sense for us all to share our findings and look for patterns of material use techniques that emerged throughout his career, creating a bigger picture of how he was working and how his working methods changed, and for example, you bring up the canvas project. It was called the Thread Count Automation Project run by Don Johnson in Texas. He developed software that could sort of look at digital X-rays and match canvas weave anomalies, placing paintings on the same role of canvas, which is fascinating in itself, but it gave us an insight into the materials he was using. So, we realised there were practically no matches before 1917 and then after Zborowski began supporting him, there was much more consistency. So, it seems that the supplies are coming through to the Zborowski, he's buying them and supplying Modigliani. Also, he favoured certain formats, the marine format. It also gave us an insight into colour makers and how they were producing these canvases. So, producing different sizes and formats on each role to get the maximum number of canvases from each role and there are lots of intricacies within those findings that we were still trying to work out, but it was a fascinating insight into his use of canvases and where they were coming from. And in terms of the balance, it was quite difficult, and it took a lot of discussion between us. So, I'll hand over Sim now.",[],{"speaker":2149,"content":2184},[2185],{"type":32,"text":2186,"spans":2187},"I think that both Nancy and I were very keen that we wanted to work with Annette and with Barbara and have them, as conservators, be part of the curatorial team. But we were also very concerned – not concerned – it’s not the right word. conscious of the fact that when you present an exhibition, you have to do it in such a way to engage the viewer. And I think I could speak for Nancy as well. We wanted the conservation material to be accessible and to be present in the presentation, but we also wanted the show to work visually as an exhibition. And we wanted to draw out certain kinds of visual connections between the individual, for example, between the sculptures and the paintings, or between the group of nudes in a way that allowed the conservation material to be present, but at the same time didn't detract from the paintings themselves. Because one of the problems sometimes with exhibitions where they do have a lot of conservation material is that you find that the viewers end up looking just at the conservation material, not at the paintings themselves. So, I think we were very conscious, all four of us, of creating kind of a visual balance within the exhibition that still allowed you to appreciate the works, but then had this other layer of conservation information available to you. Of course, the catalogue has much more than the exhibition does, and perhaps one could find in other exhibitions or other projects ways of including more technical information through digital ways or whatever into the exhibition itself, but very keen that the paintings and the sculptures would stand in their own right as well.",[],{"speaker":2143,"content":2189},[2190],{"type":32,"text":2191,"spans":2192},"And my penultimate question, why have there been so many forgeries of his work?",[],{"speaker":2149,"content":2194},[2195],{"type":32,"text":2196,"spans":2197},"I think that when you have an artist who has a market, inevitably there are forgeries. And his market has been very strong since almost after the day he died. And he wasn't super prolific. He painted a number of paintings, but nowhere near like Picasso’s output. But, where there's a great market, I think there are always forgeries, and unfortunately, his market has always been very strong, and consequently, there have been many forgeries over the decades.",[],{"speaker":2143,"content":2199},[2200],{"type":32,"text":2201,"spans":2202},"And finally, why are the eyes in Modigliani's paintings so mysterious?",[],{"speaker":2149,"content":2204},[2205],{"type":32,"text":2206,"spans":2207},"This is a question that practically every single person that comes to the Modigliani exhibition asks. So, obviously it does strike a chord. I mean, personally, I think it has to do with his looking at perhaps African masks or sculptures, he does write about looking into the inside person through the eye and sometimes you have an eye that’s open and another one that’s crosshatched. Sometimes you have very ordinary eyes. So, I think there’s a great variety. But I think that the relationship with African artefacts may well be the key to this, but I haven’t really come across really a satisfactory answer to it over the years even though it’s a question that comes up all the time.",[],{"speaker":2160,"content":2209},[2210],{"type":32,"text":2211,"spans":2212},"And frustratingly he never expressed that in writing or in interviews so we don’t know, but if you do look at the sculptures and panitings you can see a similarity in the eyes of the sculptures and as Simonetta said they were influenced by African art. So, yes, it’s a long-lasting mystery really.",[],{},"text_interview$7a8ae707-b642-460b-b0b5-6e939d3a68f4","Modigliani's enduring appeal and spotting his fakes!","Co-curators of Modigliani Up Close – the artist's retrospective at the Barnes Foundation in Philadelphia – Simonetta Fraquelli and Anette King talk to ArtExplored.",{"dimensions":2218,"alt":2219,"copyright":7,"url":2220,"id":2221,"edit":2222},{"width":134,"height":135},"ArtExplored audiocast with the co-curators of Modigliani Up Close Simonetta Fraquelli and Annette King","https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F74b29019-9ccc-4141-bd26-8eb960af3714_Audiocast+Opengraph+Modigliani%27s+enduring+appeal+and+spotting+his+fakes%21.jpg?auto=compress,format","ZK_XhhIAACMAaY5H",{"x":53,"y":53,"zoom":54,"background":55},[2224,2241],{"variation":88,"version":89,"items":2225,"primary":2238,"id":2240,"slice_type":176,"slice_label":7},[2226,2230,2234],{"post":2227},{"id":1857,"type":181,"tags":2228,"lang":16,"slug":1864,"first_publication_date":1861,"last_publication_date":1862,"uid":1858,"link_type":66,"key":2229,"isBroken":68},[1336],"cc9634a8-e0e5-4fd9-b0da-df8619c02af3",{"post":2231},{"id":461,"type":181,"tags":2232,"lang":16,"slug":464,"first_publication_date":465,"last_publication_date":466,"uid":467,"link_type":66,"key":2233,"isBroken":68},[463],"06dbce65-3f06-4a73-8bbb-1ee2904100f5",{"post":2235},{"id":1980,"type":181,"tags":2236,"lang":16,"slug":1982,"first_publication_date":1983,"last_publication_date":1984,"uid":1985,"link_type":66,"key":2237,"isBroken":68},[463,350],"fc7fb871-4bda-440e-88d7-efa9d52e76d9",{"slides_per_view":171,"max_slides_count":7,"tag":2239,"type":181,"title":1993,"paralax":7},{"link_type":66},"carousel$18625f0d-cea1-4b21-98e1-454e17a02310",{"variation":88,"version":89,"items":2242,"primary":2245,"id":2252,"slice_type":176,"slice_label":7},[2243],{"post":2244},{"link_type":66},{"slides_per_view":1574,"max_slides_count":7,"tag":2246,"type":8,"title":954,"paralax":7},{"id":2247,"type":948,"tags":2248,"lang":16,"slug":2249,"first_publication_date":951,"last_publication_date":2250,"uid":2249,"link_type":66,"key":2251,"isBroken":68},"ZA9CHxAAAKdKyyuy",[164],"amedeo-modigliani","2023-03-20T16:55:09+0000","680be898-66ae-457b-a11a-0f8eab361541","carousel$5a8cbd87-eb7f-4250-8101-f425a76ddcac",{"id":2254,"uid":2255,"url":7,"type":181,"href":2256,"tags":2257,"first_publication_date":2258,"last_publication_date":2259,"slugs":2260,"linked_documents":2263,"lang":16,"alternate_languages":2264,"data":2265},"ZNY85BEAAB4AqwCv","samantha-friedman-moma","https:\u002F\u002Fartexplorer-prod.cdn.prismic.io\u002Fapi\u002Fv2\u002Fdocuments\u002Fsearch?ref=aCb60BIAACEA00zN&q=%5B%5B%3Ad+%3D+at%28document.id%2C+%22ZNY85BEAAB4AqwCv%22%29+%5D%5D",[],"2023-08-11T14:08:08+0000","2023-09-12T10:38:08+0000",[2261,2262,2255],"samantha-friedman-moma-a-rare-glimpse-of-georgia-okeeffe","samantha-friedman-moma-a-rare-glimpse-of-goergia-okeeffe",[],[],{"title":2266,"subtitle":7,"color":2267,"source":2268,"published_at":1881,"duration":840,"cover":2274,"copyright_cover":2279,"description":2280,"narrator_copyright":2284,"music_copyright":7,"mixing_copyright":7,"deezer_external":2285,"spotify_external":2286,"apple_podcast_external":2289,"slices":2290,"meta_title":2266,"meta_description":2282,"og_image":2376,"slices2":2382},"Samantha Friedman (MoMA): A rare glimpse of Georgia O'Keeffe","#ee5d5d",{"link_type":1874,"key":2269,"kind":1876,"id":2270,"url":2271,"name":2272,"size":2273},"6eb1318b-0d2d-432c-8158-3a12ac9fab84","ZNY9OBEAAB8AqwJL","https:\u002F\u002Fartexplorer-prod.cdn.prismic.io\u002Fartexplorer-prod\u002F6eae61fd-54d3-4481-9a1d-c0cf9ed55baa_230811_ARTEXPLORED_AUDIOCAST_SAMANTHA_FRIEDMAN.mp3","230811_ARTEXPLORED_AUDIOCAST_SAMANTHA_FRIEDMAN.mp3","15494337",{"dimensions":2275,"alt":2266,"copyright":7,"url":2276,"id":2277,"edit":2278},{"width":1610,"height":1610},"https:\u002F\u002Fimages.prismic.io\u002Fartexplorer-prod\u002F7874436e-6b77-4ac5-bf7a-90351fc27438_230811_ARTEXPLORED_AUDIOCAST_SAMANTHA_FRIEDMAN.jpg?auto=compress,format","ZNY9rBEAACAAqwRq",{"x":53,"y":53,"zoom":54,"background":55},"Georgia O’Keeffe. Evening Star No.III, 1917. Watercolor on paper mounted on board. 8 7\u002F8 x 11 7\u002F8″ (22.7 x 30.4 cm). The Museum of Modern Art, New York. Mr. and Mrs. Donald B. Straus Fund, 1958. © 2022 Georgia O’Keeffe Museum \u002F Artists Rights Society (ARS), New York\u002F",[2281],{"type":32,"text":2282,"spans":2283},"MoMA’s Associate Curator, Department of Drawings and Prints Samantha Friedman, who curated Georgia O’Keeffe: To See Takes Time at MoMA, talks to ArtExplored about why the artist is one of the most significant painters of the 20th century.",[],"Will Corwin, Samantha Freidman",{"link_type":1894},{"link_type":1497,"key":2287,"url":2288},"2d512a63-af04-4df0-bda5-541d755dd3ef","https:\u002F\u002Fopen.spotify.com\u002Fepisode\u002F3mGpDNBundMZ0r8Dquj5Ft",{"link_type":1894},[2291],{"variation":88,"version":89,"items":2292,"primary":2374,"id":2375,"slice_type":1958,"slice_label":7},[2293,2298,2303,2308,2324,2329,2334,2339,2344,2349,2354,2359,2364,2369],{"speaker":2143,"content":2294},[2295],{"type":32,"text":2296,"spans":2297},"Hi Samantha. Thank you for joining me today to discuss Georgia O'Keeffe and her exhibition To See Takes Time at MoMA. My first question is this. George O'Keeffe was born in Wisconsin to Irish-Hungarian parents and brought up on a farm. How much did this shape her interest in art, and did the landscape and environment in Wisconsin influence her choosing nature as the main subject matter of her work?",[],{"speaker":2149,"content":2299},[2300],{"type":32,"text":2301,"spans":2302},"I think it's a great way to start in her early days. And I guess I would say I don't know that the landscape of Wisconsin per se shaped her interest in the landscape as a subject for her work specifically. But I will say that that upbringing was crucial in other ways to the artist that she became. Being from a big farm family of seven kids, being extremely self-sufficient, being comfortable in nature, I think were all qualities that very much shaped the person and artist that O'Keeffe would become. Her kind of comfort with the outdoors, her desire for adventure. You know, her family moved to Virginia when she was in her mid-teens so her landscape would shift. But I think from the very beginning, there was a kind of comfort within different landscapes and you know, that she would move across the country in those early years as she was growing as a young artist and a teacher. So I think that was really important for making her the artist she was. ",[],{"speaker":2143,"content":2304},[2305],{"type":32,"text":2306,"spans":2307},"Why did MoMA choose to organise an exhibition focusing solely on O'Keeffe's works on paper?",[],{"speaker":2149,"content":2309},[2310],{"type":32,"text":2311,"spans":2312},"I had organised a smaller exhibition a few years ago of post-war drawings from MoMA's collection called Degree Zero Drawing at Mid-Century and among the 80 some works from our collection I included in that show of drawings that were made between 1948 and 1961 was our latest O'Keeffe drawing, which is a 1959 charcoal that's in this exhibition. And when I hung it in that show, I hung it with an Ellsworth Kelly. It looked very at home and happy. And when I would take people through, they were very shocked to learn that this was an O'Keeffe drawing because it didn't conform to people's expectations of the artist. And I found that to be really exciting, that an artist who is so well known could still surprise people with her work that she made work not at the moment we consider to be her heyday of the 20s, and that it looked quite different from the blown-up flower paintings that are maybe the works that people most quickly and easily conjure in their heads when they're thinking of the artist. So, when I researched that drawing, I realised it was part of a series and that in fact most of the works on paper O'Keeffe made were themselves parts of a series, and there hadn't really been an exhibition that looked at bringing her series on paper together. I've been at MoMA for a long time. I'm well acquainted with some of our wonderful works on paper, the Evening Star watercolour, for example, the Train watercolour. I'd seen those works exhibited over the years, but I hadn't known that there were eight Evening Stars, and that there were three Trains. And I figured if I didn't know that, a lot of people probably didn't know that. And then the kind of last piece of the puzzle was realising that it had been 77 years since MoMA had given Georgia O'Keeffe a monographic exhibition. The last one was in 1946. I found that quite shocking, really surprising. It was a fact I had to check numerous times to make sure I had it right. So it seemed it was high time to honour her in that way. And that path that the previous project had led me down through that drawing seemed like an ideal way to do it, to show her in a different light, to shift the focus, to see a side of the artist that was maybe a bit fresh and showed her in a way that was quite different from how many of us encounter her.",[2313,2316,2319,2321],{"start":2314,"end":2315,"type":259},1367,1379,{"start":2317,"end":2318,"type":259},1410,1415,{"start":1155,"end":2320,"type":259},1530,{"start":2322,"end":2323,"type":259},1558,1564,{"speaker":2143,"content":2325},[2326],{"type":32,"text":2327,"spans":2328},"What is it about O'Keeffe's painting techniques and subject matter that established her reputation as an innovative modernist?",[],{"speaker":2149,"content":2330},[2331],{"type":32,"text":2332,"spans":2333},"I would say that in these key early years of her developing her visual language – and we're talking about really 1915 to 1917 – we have an artist who is working both within the realm of radical abstraction that many artists in those early decades of the 20th century are embracing. But she's doing it in quite a personal way also. So she trains to be an artist, she trains with different teachers. She's absorbing all of these theories of the day. And at a certain point, she says, 'I have shapes in my head that are not like what anyone taught me.' And so she steps back to listen to those shapes. So she's working in a kind of radically abstract visual language that is resonant with a lot of the innovations that are going on in those decades of the early 20th century. But she's doing it in a way that feels very deeply personal to her. And I think it's that combination, you know, that really makes her language innovative and modern at that at that moment. ",[],{"speaker":2143,"content":2335},[2336],{"type":32,"text":2337,"spans":2338},"Which artists influenced O’Keeffe throughout her career?",[],{"speaker":2149,"content":2340},[2341],{"type":32,"text":2342,"spans":2343},"She talks about, in these key years which we're discussing, reading Kandisnky's Concerning the Spiritual in Art, I think Kandinsky was a touchstone for a lot of artists at this moment, talking about these almost synaesthesia qualities of the different arts, the way that visual art might aspire to the condition of music, the idea of different forms of being associated with different sounds, being associated with different colours. And this is really moving for O'Keeffe, really influential. Within the kind of American vein of artists that Alfred Stieglitz is kind of building up, it's Arthur Dove who is the most resonant for O'Keeffe and indeed who are most resonant for each other. O'Keeffe is equally influential to Dove. I think this ability to kind of live in the grey area between nature and abstraction is something that's really important for both of them. And she sees the work by Dove reproduced in an important book, and that kind of sends her on a path of really admiring him. And they would become, you know, close peers and co-admirers. I think it's interesting to note that it's not only draughtsmen and painters who were exciting for O'Keeffe. You know, of course, Alfred Stieglitz, the photographer and gallerist who would become her husband, is introducing her to many circles of photography in this moment. And his younger acolyte, Paul Strand, is someone whose work is really influential to O'Keeffe. She talks about a moment when he showed her lots and lots of his prints and she says, 'I almost lost my mind over them, photographs that are as queer in shapes as Picasso drawings.' She's actually referring to a very particular Picasso drawing. I don't think she was a very general overall admirer of him necessarily, but there was one particular Cubist Picasso drawing that Stieglitz was showing in his gallery that she really took a liking to. So I think, you know, it really runs the gamut. And then, of course, this wasn't really what you were asking, but of course, it goes both ways. She continues to also be really influential for many artists of the next generation. You know, we have letters between her and Yayoi Kusama, between Agnes Martin, this younger generation of artists who are equally influenced by her. So those conversations are very active in both directions. ",[],{"speaker":2143,"content":2345},[2346],{"type":32,"text":2347,"spans":2348},"How significant is the relationship between O'Keeffe and MoMA, given that she was the first female artist to receive a proper retrospective at the museum? ",[],{"speaker":2149,"content":2350},[2351],{"type":32,"text":2352,"spans":2353},"Interestingly, I think it's been a complicated relationship over time, right? I mean, it would have to be the first woman artist to receive a retrospective in 1946 and then to go 77 years without another monograph. I thought a lot about whether that's O'Keeffe specific, whether that has to do again with the fact that her popularity or her presence as a kind of an icon might have overshadowed a sense of her seriousness at a certain point. But I think also it has to do with MoMA's complex history with American art pre-1945. Right? We all know that in MoMA's earlier decades, so many curators invited American art, whether it was the Stieglitz circle of modernism, whether it was self-taught or folk art over the years as that kind of canon became more entrenched of this linear story of modernism with which the museum had become associated, the idea of American art pre-1945, this realism or these kinds of realisms that preceded abstraction and abstract expressionism, were a little bit sidelined, right? They didn't fit into this story. And so I think that those priorities complicated MoMA's relationship to the artist and to her work. I think that it's really exciting and great news that in the last decade or so, we've really complicated the stories that we're telling such that an artist needn't fit into some of those linear trajectories, and I think that's part of what opens up a place for her in a really exciting way. That being said, I think it really is interesting to look back and even if she hadn't received a monograph in all those years, to look back at some of the group exhibitions in which she was included, there's one in particular that I found to be really interesting an exhibition from 1968 called The Art of the Real that a curator named E.C. Goosen organised. And if you read his catalogue essay for that show, which is available on MoMA's website in the form, he holds her up as a kind of a precursor to Ellsworth Kelly to Jasper Johns in this way that feels at first really strange to the stories we've crafted about modernism but are really exciting. And so it's really interesting to look back at the moments in which she was, you know, held up for her innovations, even if she hadn't received a monograph in all those years. ",[],{"speaker":2143,"content":2355},[2356],{"type":32,"text":2357,"spans":2358},"What is it about the charcoal drawings O’Keeffe made between 1911 and 1918 that propelled her career in a new direction and brought her work to the attention of the American public? ",[],{"speaker":2149,"content":2360},[2361],{"type":32,"text":2362,"spans":2363},"These charcoal drawings are just amazing. I mean, the exhibition begins with a number of them, many of which she called specials a kind of loving nickname she would give to these early works when she found them to be particularly successful. They are so bold, they're so abstract. And they also contain the kind of blueprints for her visual language, for her whole career, these kinds of spiral forms, this repertory of marks, the way that she negotiates value, the way that she wipes away areas of mid-tone to achieve bright highlights. Like they're just, um, I mean, in addition to being really innovative, they're absolutely lush and gorgeous. Some of them feel very mysterious. Some of them feel very strange. Critics, even in those years struggled to describe them. Um, you know, they, they talked about a scarecrow or, you know, grasping at different ways to to describe them. There's one special from 1915 that she herself described as the drawing of a headache. So the idea that you might describe a physical sensation in visual terms. So just really radical investigation and exploration. And she was sending a lot of these works. She was rolling them up and sending them in the mail in a tube, which of course, not a method we would use to travel them today to her good friend Anita Pulitzer in New York and really wanting validation, wanting to show these works. Anita shows them to Stieglitz and he includes three of them in an exhibition in 1916 and then gives her a solo show in 1917 and that is what brings her work to the attention of the public. It really is through these charcoal drawings that the public sees O’Keeffe and finds her so captivating. ",[],{"speaker":2143,"content":2365},[2366],{"type":32,"text":2367,"spans":2368},"Have you personally learned anything new about O’Keeffe during your time curating the exhibition?",[],{"speaker":2149,"content":2370},[2371],{"type":32,"text":2372,"spans":2373},"I have to say, I don’t even know where to begin with that question because pretty much everything I’ve learned during the making of this show, which I collaborated on with some wonderful colleagues.... If you had asked me five years if O’Keeffe was an artist I even cared about, I would have said no. The idea of her being a very popular artist turned me off. So, the kind of process about learning about her work and her work on paper that I experienced, I hope people who see the show will also experience that same learning curve. I wasn’t coming as an expert, I was coming as a convert and so really, everything was new for me. The most gratifying response to the show that I’ve heard has been ‘I had no idea that O’Keeffe made this work’ because that was my response too. So, it’s really all been new. 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