After touring Art Basel Switzerland this month, one can surmise that the new bling is "anti-bling". Damien Hirst, the King of Bling, was absent from many booths for the first time in years. There was more interest in hand-made, labor intensive objects like Liza Lou's beaded works at L&M Art and Matthew Day Jackson's intricately detailed multi-layered installation of four hanging skeletal figures in mirrored coffins that sold from Art Unlimited. The return to simple everyday materials recalled the artists of the Arte Povera movement who were represented this year by more than 25 galleries. Collectors and dealers alike were also vying for safer and more classic works. Donald Judd, Piero Manzoni and Lucio Fontana did very well at the fair. Likewise, large paintings by Martin Eder and Neo Rauch sold quickly at Eigen + Art.

Ironically, Takashi Murakami's collaborative piece with music producer Pharrell Williams titled The Simple Things featured seven everyday objects each covered elegantly with diamonds and precious stones. It sold for $2M USD after four collectors fought vehemently over it. Is that bling or anti-bling? You decide...

While Art Basel may not signify a major shift in buying trends cautious optimism was in the air. Despite the 40th anniversary celebration and the Venice biennial spillover the fair still only attracted less than half the usual American fair goers and sales results were half that of last years. Not to mention prices were down about 50% depending on who you talked to. Still, art was moving and at good prices and I walked away feeling the fair was a relative success for a buyer's market. I overheard dealers saying that it felt like 2005 which was not a bad time at all. Let's hope it stops there and doesn't continue to retrograde back to the 1990s.

 

Read on for more insider news, tips and Art Basel highlights. Thank you and we wish you a simple and carefree Summer!

Yours truly,
Heidi Lee