In the spring the folks at ARTnews asked if I wanted to write about a paper coming out in a legal journal about art donations and tax policy, and I was like, uh sure? But then I read it, and I was hooked. Michael Maizels and William Foster took a long-overlooked reference to Robert and Ethel Scull’s donation of a major Jasper Johns painting to MoMA, and began an expanded view of the appraisal, donation, and tax evading practices of the early 1960s, when the top US marginal tax rate was around 77%. A different world, but one that helped create the world we live in now.
Anyway, it quickly became apparent that there was a lot more to the story they found, and Andrew and Sarah at ARTnews were amazingly supportive of my suggestion to dive deeper into the archives of the Castelli Gallery, and to turn to the larger story of Leo Castelli’s relationships with his biggest collectors, and how Jasper Johns’s protean work became the object of such intense discussion and competitive collecting. (If Andrew and Sarah were around, they would have suggested cutting that into several sentences, I’m sure.) From that beginning emerged the possibility of using Johns’s early works as they passed from the most adventurous collectors to the richest and, occasionally, into museums.
The resulting article came out in print in the (newly redesigned) Fall issue of ARTnews, and is now available on the (newly redesigned) website as well. There was so much amazing material, and so many intriguing threads, so many incomplete stories that could be added and expanded upon, so much that was locked in MoMA’s archives, which were inaccessible for the entire time I was working on this. But 4000 words feels like plenty to start with.
How Leo Castelli and MoMA Charted Today’s Rocket-Fuelled Art Market [artnews]
The Gallerist’s Gambit: Financial Innovation, Tax Law, and the Making of The Contemporary Art Market [The Columbia Journal of Law and the Arts]