Art Industry News is a daily summary of the most important developments in the art world and the art market. Here’s what you need to know on this Monday, July 10.
NEED TO READ
Artists struggle in London – Almost a third of artists said they might have to give up their careers within five years due to a lack of funds, according to a report by affordable studio provider Acme. About half of those surveyed said they couldn’t save money or contribute to a retirement plan, and only 12% said they could support themselves through art alone. “It’s like a hostile environment now,” said London-based artist Gayle Chong Kwan. (Guardian)
Angelina Jolie moves into Basquiat’s old studio The Oscar-winning actress will take over the space at 57 Great Jones Street under an eight-year commercial lease for her creative business Atelier Jolie, real estate agency Meridian Capital Group has confirmed. Andy Warhol and Jean-Michel Basquiat lived and worked at the Manhattan property, which has 6,600 square feet of space over three floors. (ART news)
After 60 years, painting reassigned to Gainsborough – A portrait of a one-armed naval veteran has been attributed to Thomas Gainsborough, an 18th-century painter. The work has been in storage for nearly six decades and now the Royal Museums in Greenwich have launched a campaign to raise £60,000 ($76,923) for conservation work on the painting and its frame so it can to be hung in the Queen’s household next year. (Guardian)
Nancy Yao steps down as director – The former director of the New York-based Museum of Chinese in America will not take the helm as founding director of the future America Women’s History Museum in Washington, DC. Yao said the reason was “family issues.” In April, the Smithsonian launched an investigation following allegations that she mishandled sexual harassment allegations at her former job in New York. (New York Times)
MOVERS AND SHAKERS
Hamptons Art Market postponed – The art fair held annually in the favorite summer destination of affluent New Yorkers was canceled this year and will return in August 2024, citing “unforeseen logistical issues”. (The arts journal)
Artissima launches two new prizes for its anniversary – The Turin Fair returns in November for its 30th edition with the two new awards. One will be dedicated to a merchant and another will offer a chosen artist the opportunity to create an original work for the famous Track 500. The Acquisition Fund organized by the Fondazione per l’Arte Moderna e Contemporanea CRT was also increased to €200,000 ($219,235). (Press release)
Moretti opens a gallery in Paris – The gallery specializing in ancient and classical paintings and sculptures is opening a branch at 1 place du Louvre, just opposite the august museum. This will be its third location after London and Monaco. In September, the new space will open with an exhibition of Italian Baroque works. (Press release)
Matt Johnson’s Desert X sculpture lands in Marfa – The 150-foot-long, 40-foot-wide sculpture titled Sleeping character, made up of 12 shipping containers arranged to look like a resting figure, debuted at Desert X in the Coachella Valley earlier this year. The work was donated to Marfa Invitational and will be installed on a site the foundation plans to erect as an art space. (glass tire)
FOR ART
The West Bund Museum will present the “mirrors of the portrait” – The exhibition bringing together nearly 300 works from the Center Pompidou collection will be presented at the Shanghai Museum from July 21 to November 5, 2024. The exhibition is the third in a five-year collaboration between the Parisian institution and the West Bund Museum Project. . (Press release)
Kees Van Dongen, Portrait of Billy (1920) © Adagp, Paris, 2023. Photographic credit: © Center Pompidou, MNAM-CCI / Philippe Migeat / Dist. NMR-GP
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