Why the market got sooo excessive and what will happen next

January 29, 2009 at 6:04 pm | In Art world, art market, collecting art, contemporary art, judging art | 7 Comments

I’ve always blamed the excesses of the contemporary art market on Warhol.  Warhol’s art came out of Duchamp, yes. ( Marcel Duchamp was the guy who exhibited a urinal and said it was art.)  The grand idea is that art is anything that an artist says is art.  Great.   But Warhol, being a product of his time, added a devious twist.  The “anything” he chose to be art, was branded commercial images from the media. As you probably don’t recall being too young, it was the proliferation of homogenized media in the 60’s that fed the cult of celebrity and the growth of a consumerist society.  Warhol was a child of the 60’s in that all he really cared about was buying stuff and being famous. So, of course, his art reflected the time.   He was a self-manufactured brand and subject of his art was how branding created a need for a consumer product or celebrity. So why was Warhol, who recycled the photographic images of our consumer/celebrity culture, so popular? The answer is what I call the Warhol paradox.  If you purchase (consume) a Warhol, you are absolved of being a clueless manipulated consumer, because you’re already aware of being manipulated by the Warhol brand.  That’s ironic and cool, and so, therefore, are you.

And thus began the intricate dance between contemporary art and consumerism that has driven great chunks of the art market till everything crashed in October. The art world was flush with an endless supply of stupid money. Newly minted millionaires bought incredibly expensive, excessive, meticulously produced sculptures by artists such as Koons and Murakami and Hirst, each object more brittle and superficial than the last. Luxury brands ruled and the art market was just a more exclusive, more fun and much more expensive brand in the world’s luxury market.  But buying art had two other benefits going for it.  It was cooler to consume art than handbags, because of that old Warholian paradox. If you consume art about consumption, you can be a shopaholic and at the same time be cool enough to know it. But number two, and much more important, is that some idiot got the idea that contemporary art was a new asset class.!!!  The stupid money was not content to invest in CDOs and other junk.  They added contemporary art into their list of toxic assets.

Now luxury branded consumerism is out, outrageous excess is out and even expensive is out.  If contemporary art reflects it’s time and our times are no longer about consumption,  what will be the cultural ethos that contemporary art reflects in the next decade or so?  We’ve been through an anti consumerist phase before, in the 70’s also a time of recession, crummy art markets, and crummy stock markets.  This is when art was either unassuming  and minimal ie Tuttle, LeWitt or huge and minimal, ie. Serra and Tony Smith.   Sol LeWitt sold – not art – but instructions for art – Walter de Maria showed a room of dirt.  An anti-object, anti-consumer, process-oriented stance was typical of the time.  If art is not an object but just an idea, what is there to buy?  But market forces eventually  ruled and all of the conceptualists wound up making objects for sale.

What kind of art will this recession bring? Dense small “authentic” abstraction, more narrative drawing? (paper is cheap), minimal understated Tuttlesque objects?  We’re  definitely back to the handmade, unproduced and manufactured.  And what subject matter  will obsess this next generation  – those who don’t expect an automatic career because they a Columbia MFA?  It will be very interesting to see what moves them once the market is no longer a factor.  I can’t wait.

7 Comments »

RSS feed for comments on this post. TrackBack URI

  1. I expect a tidal wave of anxiety and panic attacks – always an excellent breeding ground for art. For recession read depression. In the UK the exodus of private money for the arts creates more of a reliance upon the meagre resources of the state via the Arts Council – I’m not really sure who is a worse patron of the arts. I guess artists will have to stop thinking of being an artist as a ‘career’ – that may well help.

  2. Exactly, EXACTLY!

    I can’t wait either.

    As much as I fret for myself personally, in terms of shaky income, I am sooo excited about what’s happening.

    At every level, I think we’re going to go back to authenticity, sincerity, reality and HUMANITY. LOVE!

    Can’t wait to see what you start scouting out there, Kathryn.

    Natalie

  3. Great writing, Kathy! You are so right on about Warhol. These certainly are interesting times.
    Louise

  4. Hi Kathryn- enjoyed your articles. Thank you. Brian

  5. Love your interview Kathy! I think we should do a talk at the OSilas Gallery one evening… Many thanks

  6. I am in complete agreement with you and enjoyed very much
    reading this …. Good positive ending paragraph.
    Warms the souls of artists everywhere….get out there and
    create..

  7. Kathryn,
    You have hit the nail on the head. Thankyou. Although I really dont think the problem will ever be resolved. People are addicted to consuming, and while they might be paying the price for it now, they’ll always want to come back for another fix. What else is making so much damn money for?


Leave a comment

XHTML: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <pre> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Blog at WordPress.com. | Theme: Pool by Borja Fernandez.
Entries and comments feeds.