Judith Benhamou-Huet's 'Art Business' Examines Market Forces
Judith Benhamou-Huet's 'Art Business', released by Éditions Assouline, examines the relationship between the art market and finance, referencing Marx and starting with a quote from Francis Picabia. She outlines five key elements influencing prices: buyer, intermediary, seller, venue, and artist. The work explores trends in Asian artifacts and photography, along with record sales for a diamond, corkscrew, and Louis XVI commode. It features appendices listing top sales from 2000 and the period from 1985 to 2000, and profiles collectors such as Roberto Castro-Polo while noting significant auctions. The competition between François Pinault and Bernard Arnault is emphasized, with Christie's implementing new tactics. The book critiques auction houses and unveils a 'recognition network' that elevates artists, while Carole Boulbès questions its advocacy for strategy amid its critique of spectacle.
Key facts
- Book 'Art Business' by Judith Benhamou-Huet published by Éditions Assouline
- Opens with Francis Picabia quote: 'Art is a pharmaceutical product for imbeciles'
- Cites Marx on art and money as 'unnatural couple'
- Identifies five culprits in price formation: buyer, intermediary, seller, venue, artist
- Includes appendices of top sales in 2000 and 1985-2000
- Discusses rivalry between François Pinault and Bernard Arnault
- Christie's acquired by Pinault in 1998
- Profiles collectors: Roberto Castro-Polo, Elaine Dannheiser, Steve Wynn, Martin Margulies, Victor and Sally Ganz
- Mentions sales: Bestegui, Rothschild, Ojjeh, Riahi, Maria Callas, Lady Diana
- Critiques auction houses for event-based marketing and use of art historians
- Reveals 'recognition network' supporting artists like Cindy Sherman, Andreas Gursky, Felix Gonzalez-Torres, Maurizio Cattelan, Vanessa Beecroft
- Notes France's lack of strategy in art market
- Review by Carole Boulbès in artpress
- Reference to Alain Quemin's report on prescriber countries
- Mentions Rrose Sélavy (Marcel Duchamp) and 1926 sale of Picabia works
- Record photo sales: Bruce Nauman unique print at $480,000 (May 17, 2000), Gustave Le Gray at £507,500 (October 6, 1999)
Entities
Artists
- Judith Benhamou-Huet
- Francis Picabia
- Alain Quemin
- Marcel Duchamp
- Rrose Sélavy
- Bruce Nauman
- Gustave Le Gray
- Cindy Sherman
- Andreas Gursky
- Felix Gonzalez-Torres
- Maurizio Cattelan
- Vanessa Beecroft
- John Galliano
- Alexander McQueen
- Carole Boulbès
Institutions
- Éditions Assouline
- Sotheby's
- Christie's
- Consortium de Dijon
- Hôtel Drouot
- Dior
- Givenchy
- artpress
Locations
- France
- United States
- Europe
Sources
- artpress —