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“Artist in Hotel” Project B2F Elevator Hall Completed at Park Hotel Tokyo

Betty Tűndik

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 Park Hotel Tokyo announced on February 19 that the elevator hall which was created as an extra production of the “Artist in Hotel” project is complete.

The “Artist in Hotel” project is Park Hotel Tokyo’s version of “Artist in Residence” programs, whereby Japanese artists stay at the hotel and paint on walls and ceilings in guest rooms based on the concept “beauty of Japan.” In 2017, the project was honored at the Japan Tourism Awards.

Artist OZ-Yamaguchi Keisuke, who worked on “Artist Room Kabuki” for the “Artist in Hotel” project, painted the second-basement floor elevator hall under the theme of “HAZAMA (interstitial space).” This means that the “spatial beauty” unique to Japan can now be enjoyed in the key space that welcomes guests to the hotel.

Park Hotel Tokyo General Manager Takayuki Suzuki said:

“The entrance connecting the mundane to ‘Infinite time and space amid cognizant Japanese beauty’ has been reborn. We invite guests to feast their eyes on the uniquely Japanese aesthetics of ‘HAZAMA’.”

Park Hotel Tokyo Art Project Manager Yoshitomo Fujikawa said:

“The completion of this art installation of the elevator hall is indeed befitting of an art hotel. We hope that all visitors will enjoy this.”

Park Hotel Tokyo hopes that more guests will enjoy the “beauty of Japan” through this new art work in the form of an elevator hall.

Park Hotel Tokyo, opened in 2003, is located on the 25th floor and above in the Shiodome Media Tower. The 25th floor has the lobby and reception desk besides restaurants and a bar. The city’s view can be enjoyed through the windows behind the reception desk. There are 270 guest rooms, located from the 26th to 34th floors. In 2013, Park Hotel Tokyo put forth a new concept, “Infinite time and space amid cognizant Japanese beauty.” In line with this, every room on the 31st floor is decorated and turned into Artist Rooms, based on the theme “Beauty of Japan.” To offer a memorable experience in various parts of the stay, Park Hotel Tokyo will continue to maximize the role of Japanese aesthetics and hospitality.

SOURCE: Park Hotel Tokyo

 

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The Guggenheim, the Louvre, the Pompidou Center and now ArtMarket all Possess a “.art” Generic Top-level Domain (gTLD)

Vlad Poptamas

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Photo source: citibikenyc.com
Reading Time: 3 minutes

 

thierry Ehrmann: “We are also very pleased to inform shareholders and investors that we now possess artmarket.art, which has already been deployed by our IT department. This acquisition involved several quarters of intense legal and administrative red tape with the ICANN (Internet Corporation for Assigned Names and Numbers) and the TMCH (TradeMark ClearingHouse).

This is the same strategy adopted by all of the world’s major art institutions, including the Guggenheim, the Louvre and the Pompidou Center, along with an impressive list of museums that have played a key role in art history.

Since our press release Artprice.com is changing its name to Artmarket.com to become a global player in the Art Market posted on July 9, 2019 (follow this link:https://www.actusnews.com/fr/ARTPRICE/cp/2019/07/09/artprice_com-is-changing-its-name-to-artmarket_com-to-become-a-global-player-in-the-art-market) our Investor Relations department has received numerous questions from shareholders and institutions regarding the domain names we possess and our marketing position vis-à-vis Artprice.

This brief statement is intended to answer these questions. To achieve the getting of this extension .art, Artprice had to comply with a battery of draconian ICANN tests, including the requirement of owning our brand (without which applications to the ICANN are rejected). The “Sunrise Period” of domain registration is now over, so no further surprises are expected.”

A generic top-level domain (gTLD) is a type of top-level domain (TLD) maintained by the Internet Assigned Numbers Authority (IANA) for use in the Internet’s domain name system.

A TLD is the extension at the end of a website address. In this case, “dot art” (.art) is a major asset for the key players in the art market. The ICANN, the organization that oversees Internet domain names, has developed draconian mechanisms to protect rights on new extensions and to preclude hacking risks.

However, this type of protection comes at a high price. In the digital economy, .art represents a powerful search-engine marketing tool to capture an even broader global audience. Concrete operational examples are louvre.art, guggemheim.art and centrepompidou.art.

thierry Ehrmann: “You don’t need an MBA to understand that this global network will inevitably contribute to our notoriety and the growth of our customer base.”

Very few groups like ours have a legal and IT department dedicated to the global watch of their brands and domain names. For our shareholders, this watch represents a guarantee and a very high level of legal security.”

thierry Ehrmann: “Artmarket.com is now the group’s flagship as we project our know-how, our content and our brands into the global market in a way no other entity operating on the Art Market can do. The new name will take full advantage of the natural indexing by global search engines of any content relating to the term “art market”.

Artprice.com shareholders will very shortly be invited to an EGM (within the legal deadlines) to approve this name change.

The Artprice brand – which has enjoyed global recognition for over 20 years – will remain the reference brand name for Artmarket.com in its highly profitable art prices /indices databanks activity.

After approval, shareholders of Artprice.com on Euronext will automatically become shareholders of Artmarket.com without any impact on the number of shares held or their attached rights.

English is the language most used by the art market all over the world.

Searches using the term “art market” on Google.com give Artmarket.com as the top result out of 3.6 billion results (Judicial Officer’s Report, SCP Pons-Mergui). By comparison, a search on Google.com using “Artprice” produces 2.5 million results, with, of course, artprice.com in first place.

To answer the questions we are currently receiving in all transparency, we acknowledge our legal possession of the domain names, artmarket.net, .org and .eu (.eu being the gTLD for Europe) as well as art-market.comart-market.net and art-market.org which we acquired to preclude cybersquatting (the practice of registering a domain name corresponding to a trademark with the intention of subsequently reselling it to the trademark at a high price).

thierry Ehrmann: “Some new  complementary and decisive information will be  communicated in the Q2 release on the EGM (Extraordinary General Meeting) retroplanning which will endorse the change of artprice.com name to artmarket.com adding the new strategy artmarket.com to become a global player of the Art Market.”

 

SOURCE Artprice.com

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Artprice100©: The Art Market’s Blue-chip Artists Yield Nearly as Much as the Top Performing Companies in the American Economy

Vlad Poptamas

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Photo BFA. Courtesy of The Armory Show 2016
Reading Time: 5 minutes

thierry Ehrmann, Artprice’s founder/CEO, highlights the art market’s excellent performance in H1 2019: “A collector who, at the start of this year, invested in the 100 most successful artists of the last five years (2014-2018), would already be looking at a value accretion of almost a sixth in the value of his/her portfolio.”

The Artprice100 © index gained +16% over the first half of 2019 while the S&P 500 added +18% over the same period. The similarity in the performances between the American financial markets and a portfolio of works by the world’s top performing artists (defined in a purely objective manner) proves the undeniable attractiveness of the Art Market as an alternative investment.

Fewer transactions

The performance of the Artprice100© over the first half of 2019 was driven by exceptionally strong demand, barely satisfied by supply. The supply/demand imbalance, generated a rapid increase in value, particularly on works by the 100 top performing artists on the global secondary art market.

The turnover slowdown recorded in H1 2019 by major auction houses, including Sotheby’s (-9%) and Christie’s (-28%), reflects a less dynamic high-end market than in previous years. However, prices have shown no signs of fatigue and the contraction in the volume of sales is a reminder that the art market is directly dependent on the number of works in circulation.

In a financial context of sustained negative or near-zero refinancing rates, some collectors are probably preferring to hold certain artworks and not cash in on investments that remain highly competitive. Moreover, the persistence of extremely high transaction costs, both in galleries and in auction rooms, is discouraging short holding periods (under five years), and tempting some collectors to consider private transactions as an alternative.

The Artprice100© index driven by Warhol, Zao Wou-Ki and Wu Guanzhong

Heavily weighted in our Artprice100© index with 9.1% of the portfolio, Pablo Picasso has not contributed to its value accretion for several years. As we have seen over the last four years, his prices contracted -2% in the first half of 2019.

However, Andy Warhol, Fu Baoshi, Zao Wou-Ki and particularly Wu Guanzhong have all clearly enjoyed value accretion, providing the main thrust for the progression of our Artprice100© index in H1 2019. Without setting any new auction records, these artists have all enjoyed strong price inflation. The sale of major works by these artists will no doubt confirm the trend.

On 2 June last, a large drawing by Wu Guanzhong entitled Lion grove garden (1988) fetched $20.8 million at China Guardian. It was previously acquired for $17.8 million on 3 June 2011 at Poly Beijing. Adding 17% over the last eight years, the drawing generated, in financial terms, an average annual return of +1.9%. However, another Guanzhong resale suggests that the bulk of the value accretion on his works has occurred in the last 6 months: an important Guanzhong work entitled Two Swallows was purchased for $7.1 million on 3 June 2011 (at the same sale as Lion grove garden) and fetched $7.8 million in December 2018, an increase of just +9.8%.

Paul Cézanne and George Condo

Investments in Modern artists carry the least risk and demand for their work is continuing to grow steadily offering attractive returns over the long term. Claude Monet and Paul Signac have both signed new auction records this year. Similarly, 2019 is already proving to be a superb year (the best since 2000) for Paul Cézanne. His painting Bouilloire et fruits (c. 1888-90), acquired for $29.5 million in 1999, fetched $59.3 million on 13 May 2019 at Christie’s New York, generating an average annual ROI of 3.6% over 20 years.

At the other end of the spectrum, Contemporary artists offer striking returns in the medium and short term. The most spectacular entry into the composition of the Artprice100© index this year is undoubtedly George Condo. The American artist enjoyed a massive secondary market success in 2018with 78 paintings and 34 drawings selling for more than $63 million, and on three continents (America, Europe and Asia)! The Condo phenomenon has been clearly illustrated by a number of rapid resales of small works including Soft Green Abstraction (1983), which was purchased for $17,000 in April 2017 in Munich and resold a year later in New York for $46,000.

In total, there were seven changes this year in the composition of the Artprice 100© index.

In

Out

George Condo

Huang Binhong

Giorgio Morandi

Huang Zhou

Robert Motherwell

Anish Kapoor

Jean Paul Riopelle

Li Keran

Rufino Tamayo

Xu Beihong

Frank Auerbach

Pieter Brueghel II

Hans Arp

Giorgio de Chirico

Four women… and two Old Masters

Unfortunately, we see no change regarding female artists. This year again, only four of the artists in the Artprice100© are women: Yayoi Kusama (Japan), Joan Mitchell (US), Louise Bourgeois (France) and Barbara Hepworth (UK). Yayoi Kusamanow represents 1.3% of the index compared with 0.9% last year. Her price index rose 20% in H1 2019.

The relegation of Pieter Brueghel II for reasons relating to market liquidity has exacerbated the rarity of Old Masters in the index. Numerically, the composition of the index is dominated by Modern artists, numbering 49, followed by Post-War artists (29), Contemporary artists (12), 19th century artists (8) and lastly… Old Masters (only 2).

Composition of Artprice100© index for H1 2019

Artist – Share – Period

  1. Pablo PICASSO (1881-1973) – 9.1% – Modern
  2. Andy WARHOL (1928-1987) – 6.4% – Post-War
  3. Claude MONET (1840-1926) – 4.5% – 19th Century
  4. QI Baishi (1864-1957) – 3.9% – Modern
  5. Jean-Michel BASQUIAT (1960-1988) – 3.7% – Contemporary
  6. Gerhard RICHTER (b. 1932) – 3.3% – Post-War
  7. ZAO Wou-Ki (1921-2013) – 2.9% – Post-War
  8. FU Baoshi (1904-1965) – 2.5% – Modern
  9. Alberto GIACOMETTI (1901-1966) – 2.4% – Modern
  10. Amedeo MODIGLIANI (1884-1920) – 2.2% – Modern
  11. Cy TWOMBLY (1928-2011) – 2.2% – Post-War
  12. WU Guanzhong (1919-2010) – 2.1% – Modern
  13. Roy LICHTENSTEIN (1923-1997) – 2.0% – Post-War
  14. Lucio FONTANA (1899-1968) – 1.9% – Modern
  15. Alexander CALDER (1898-1976) – 1.8% – Modern
  16. Marc CHAGALL (1887-1985) – 1.8% – Modern
  17. Joan MIRO (1893-1983) – 1.7% – Modern
  18. Willem DE KOONING (1904-1997) – 1.7% – Modern
  19. Henri MATISSE (1869-1954) – 1.5% – Modern
  20. Fernand LÉGER (1881-1955) – 1.4% – Modern
  21. Christopher WOOL (b. 1955) 1.4% – Contemporary
  22. Yayoi KUSAMA (b. 1929) – 1.3% – Post-War
  23. Jean DUBUFFET (1901-1985) – 1.3% – Modern
  24. René MAGRITTE (1898-1967) – 1.2% – Modern
  25. Peter DOIG (b. 1959) – 1.2% – Contemporary
  26. Wassily KANDINSKY (1866-1944) – 1.2% – Modern
  27. Jeff KOONS (b. 1955) – 1.2% – Contemporary
  28. David HOCKNEY (b. 1937) – 1.1% – Post-War
  29. Henry MOORE (1898-1986) – 1.0% – Modern
  30. LIN Fengmian (1900-1991) – 0.9% – Modern
  31. CHU Teh-Chun (1920-2014) – 0.9% – Post-War
  32. Paul GAUGUIN (1848-1903) – 0.9% – 19th Century
  33. Pierre-Auguste RENOIR (1841-1919) – 0.8% – 19th Century
  34. SAN Yu (1895-1966) – 0.8% – Modern
  35. Richard PRINCE (b. 1949) – 0.8% – Contemporary
  36. Sigmar POLKE (1941-2010) – 0.7% – Post-War
  37. Joan MITCHELL (1926-1992) – 0.7% – Post-War
  38. PU Ru (1896-1963) – 0.7% – Modern
  39. Auguste RODIN (1840-1917) – 0.7% – 19th Century
  40. Edgar DEGAS (1834-1917) – 0.7% – 19th Century
  41. Paul CÉZANNE (1839-1906) – 0.7% – 19th Century
  42. Yves KLEIN (1928-1962) – 0.6% – Post-War
  43. Camille PISSARRO (1830-1903) – 0.6% – 19th Century
  44. Richard DIEBENKORN (1922-1993) –  0.6% – Post-War
  45. Ed RUSCHA (b. 1937) – 0.6% – Post-War
  46. Keith HARING (1958-1990) – 0.5% – Contemporary
  47. Martin KIPPENBERGER (1953-1997) – 0.5% – Contemporary
  48. Louise BOURGEOIS (1911-2010) – 0.5% – Modern
  49. Alberto BURRI (1915-1995) – 0.5% – Modern
  50. Frank STELLA (b. 1936) – 0.5% – Post-War
  51. Damien HIRST (b. 1965) – 0.4% – Contemporary
  52. Egon SCHIELE (1890-1918) – 0.4% – Modern
  53. Ernst Ludwig KIRCHNER (1880-1938) – 0.4% – Modern
  54. Georges BRAQUE (1882-1963) – 0.4% – Modern
  55. Georg BASELITZ (b. 1938) – 0.4% – Post-War
  56. Pierre SOULAGES (b. 1919) – 0.4% – Modern
  57. Juan GRIS (1887-1927) – 0.4% – Modern
  58. Salvador DALI (1904-1989) – 0.4% – Modern
  59. Edvard MUNCH (1863-1944) – 0.4% – Modern
  60. Paul SIGNAC (1863-1935) – 0.4% – Modern
  61. DONG Qichang (1555-1636) – 0.4% – Old Master
  62. Fernando BOTERO (b. 1932) – 0.4% – Post-War
  63. WEN Zhengming (1470-1559) – 0.4% – Old Master
  64. George CONDO (b. 1957) –  0.4% – Contemporary
  65. Sam FRANCIS (1923-1994) – 0.4% – Post-War
  66. Alighiero BOETTI (1940-1994) – 0.4% – Post-War
  67. Bernard BUFFET (1928-1999) – 0.4% – Post-War
  68. Max ERNST (1891-1976) – 0.4% – Modern
  69. Robert RAUSCHENBERG (1925-2008) – 0.4% – Post-War
  70. CHEN Yifei (1946-2005) – 0.3% – Contemporary
  71. Maurice DE VLAMINCK (1876-1958) – 0.3% – Modern
  72. Barbara HEPWORTH (1903-1975) – 0.3% – Modern
  73. Pierre BONNARD (1867-1947) – 0.3% – Modern
  74. Donald JUDD (1928-1994) – 0.3% – Post-War
  75. Max BECKMANN (1884-1950) – 0.3% – Modern
  76. Tsuguharu FOUJITA (1886-1968) – 0.3% – Modern
  77. Alfred SISLEY (1839-1899) – 0.3% – 19th Century
  78. Laurence Stephen LOWRY (1887-1976) – 0.3% – Modern
  79. Morton Wayne THIEBAUD (b. 1920) – 0.3% – Post-War
  80. Nicolas de STAËL (1914-1955) – 0.3% – Modern
  81. Enrico CASTELLANI (1930-2017) – 0.3% – Post-War
  82. Anselm KIEFER (b. 1945) – 0.3% – Contemporary
  83. Michelangelo PISTOLETTO (b. 1933)  – 0.3% – Post-War
  84. GUAN Liang (1900-1986) –  0.3% – Modern
  85. Kees VAN DONGEN (1877-1968) – 0.3% – Modern
  86. Francis PICABIA (1879-1953) – 0.3% – Modern
  87. Piero MANZONI (1933-1963) – 0.3% – Post-War
  88. Tom WESSELMANN (1931-2004) – 0.3% – Post-War
  89. Giorgio MORANDI (1890-1964) – 0.3% – Modern
  90. Günther UECKER (b. 1930) – 0.2% – Post-War
  91. Josef ALBERS (1888-1976) – 0.2% – Modern
  92. Robert MOTHERWELL (1915-1991) – 0.2% – Modern
  93. Rufino TAMAYO (1899-1991) – 0.2% – Modern
  94. Hans ARP (1886-1966) – 0.2% – Modern
  95. Emil NOLDE (1867-1956) – 0.2% – Modern
  96. Paul KLEE (1879-1940) – 0.2% – Modern
  97. Jean-Paul RIOPELLE (1923-2002) – 0.2% – Post-War
  98. Alexej VON JAWLENSKY (1864-1941) – 0.2% – Modern
  99. Albert OEHLEN (b. 1954) – 0.2% – Contemporary
  100. Frank AUERBACH (b. 1931) – 0.2% – Post-War

 

SOURCE Artprice.com

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Artprice: The “Toulouse Caravaggio” Acquired Privately

Vlad Poptamas

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Photo source: panpica.pw
Reading Time: 2 minutes

 

The public sale was scheduled for Thursday, 27 June at 18:00, Toulouse time. According to the Sale Conditions, anyone interested in acquiring the painting had to “register as a bidder at least 15 days before the sale.” As thierry Ehrmann explains, that meant that since 13 June at the very least, all the potential bidders were known to the sellers. And, as Julius Caesar would have said… the die is now thrown. 

Because… no less than 48 hours before the public sale was due to take place, the sale has been cancelled! A private transaction has been concluded. “An offer that we had no choice but to communicate to the owners of the painting,” says the official statement which provides a very concise explanation: “The fact that the offer comes from a collector with close connections to a major museum convinced the sellers to accept it.

This is undoubtedly a very happy ending for everyone involved, not to mention the sellers the art expert who discovered the work, Eric Turquin, and auctioneer Marc Labarbe. The undisclosed amount apparently readily confirms that the work is indeed an authentic Caravaggio, and the buyer, anonymous, but close enough to the world’s most prestigious museums, is apparently committed to ensuring painting will very soon be exhibited in one of the planet’s top museums. It could be any museum in the world… except the Louvre, which turned its back on the painting… “An attitude that, for me personally, was difficult to digest,” confessed Eric Turquin to the French magazine Le Point. The official statement says: “Purchased by a foreign collector, [the painting] will leave France.” Its ultimate destination was the sellers’ second biggest concern, after its sale price of course… Otherwise a deal would certainly have been struck directly with a major museum.

From the sellers’ point of view, this is the best possible outcome. In terms of transparency, it’s a total and singular reversal of the situation. The sellers promised a “authentic” public sale, i.e. a sale that was 100% public, with no reserve price and broadcast live on internet so that everyone and anyone could participate in the auction. The final price was going to allow the Market to decide on the painting’s authenticity… but the curtain has fallen even before it went up… and the amount of the transaction will remain forever confidential.

Last Monday, on 17 June, Sotheby’s announced its withdrawal from the public sphere. A week later, the most anticipated work of the year has suddenly done more or less the same. For Artprice, the two cases strongly suggest that the Art Market is seeking a certain discretion. In the sales catalogue, Eric Turquin thanked his collaborators: “I wish to thank my expert colleagues, the restorers, the framers, the bankers, the insurers, the photographers and the transporters, etc. who have scrupulously respected their professional confidentiality obligations and allowed us to work in a calm and collected manner.”

After five years of work, research and determination, “this painting will go to one of the best museums in the world. And for me that was essential,” concludes Eric Turquin.

Given the importance of this work in art historical terms, Artprice promises to track the reappearance of this painting – a painting that, as of today, no longer needs to be referred to as the “The Toulouse Caravaggio” –  and to shed as much light as possible on this private sale, concluded just hours before an auction that had all the makings of a truly historic event. Artprice’s consistent and long-standing efforts to bring transparency to the Art Market are more than ever justified.

 

SOURCE Artprice.com

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