[Sm]Art Money??

nara_mia.jpg smithson_mirror_shell.jpg

After conducting the biggest contemporary auction in Sotheby's history, Tobias Meyer told Artforum's Sarah Thornton, "The best art is the most expensive, because the market is so smart."

Uh-huh. This is the market that paid a million-one for a generic Yoshitomo Nara painting just because it's big. Meanwhile, one of the last Robert Smithson non-sites in private hands--and artist hands at that, the piece was being sold by its original owner, Keith Sonnier--sold for just its high estimate, $374,400 [or $300K+ plus the 20% or so premium].

The market may be smart at the top, but there's definitely a soft-headed center, too.

Yoshitomo Nara, "Missing in Action," 1999, est. $200-300,000. Sold for $1.08 million at Christie's [5/10/06].
Robert Smithson, "Shells and Mirror," 1969, est. $200-300,000. Sold for $374,400 at Christie's [5/10/06].

Since 2001 here at greg.org, I've been blogging about the creative process—my own and those of people who interest me. That mostly involves filmmaking, art, writing, research, and the making thereof.

Many thanks to the Creative Capital | Warhol Foundation Arts Writers Program for supporting greg.org that time.

comments? questions? tips? pitches? email
greg [at] greg [dot ] org

find me on twitter: @gregorg

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first published: May 11, 2006.

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