WARHOL vs. THE DOW [New York Sun]

[Mr.Glass-migration]

"Argue with the fool and you become the fool" - Jack Henry Abbott

 

 

Just because YOU lack the capacity for abstract thought doesnt mean you should discourage the flow of ideas...that is,..unles doing so makes you feel better about your inability to engage ideas.

 

http://www.art-for-a-change.com/blog/2006/05/warhols-117-million-dollar-soup-can.html

[chrisco37]

$71 mIL FOR A WARHOL AND EVERYBODY SAID IT WASNT ART

 

45 YEARS LATER - PRICES SAY OTHERWISE

 

MANY, MANY PARALLELS WITH OA.

 

MANY.

 

Warhol first gained recognition in the 60's, roughly the same time Kirby/Ditko were putting out their best stuff.

 

Warhol's stuff commands millions now. Top of the line Kirby/Ditko pages don't even hit 6 figures. There is no comparison at this point, KK.

[blowout]

 

Just because YOU lack the capacity for abstract thought doesnt mean you should discourage the flow of ideas...that is,..unles doing so makes you feel better about your inability to engage ideas.

 

An exchange of ideas usually involves bringing something new and fresh to the table.

[mrpunch0]

 

Isn't it about time for Mr. Glass and all his Krazy friends to go home?

[delekkerste]

At last, a voice of reason...

 

 

Eli Broad Says Art Basel Overvalued, Sees Price Drop

2007-06-13 10:00 (New York)

 

 

By Linda Sandler

June 13 (Bloomberg) -- Billionaire Eli Broad said

contemporary art prices might drop in a similar way to the crash

after 1990, when values fell by half.

Broad spoke in an interview at Art Basel, the world's

biggest contemporary art fair, where he bought a Jeff Wall

photograph, a street scene framed in a light box, his first major

acquisition of the artist. Prices of Wall's art have doubled in

the last three years, said Broad. He declined to say how much he

paid.

``Prices at the fair and at auctions for contemporary art

are overvalued,'' said Broad. ``I don't know how long it can keep

going on.''

Broad is one of the big U.S. collectors who passed through

the Swiss fair, along with Henry Kravis, co-founder of private

equity investor Kohlberg Kravis Roberts & Co., and French

billionaire Francois Pinault. Broad has attended the Swiss fair

for 30 years, he said in interviews before and after a press

conference.

Broad, a slight, gray-haired man of 74, compared today's art

market with that of 1989. Prices of top contemporary artists

declined in the following years as leveraged buyers were

sidelined.

``Now we've got U.S. and European hedge funds and Russian

oligarchs buying art,'' Broad said. ``Some of the new buyers are

genuine collectors and others are buying because it's the

socially acceptable thing to do. Nothing should go up in a

straight line, and we're looking at an adjustment like we had in

1989 and 1990.''

 

Purchasing Cost

 

A drop in prices would please many collectors like himself,

whose purchasing costs have risen, he said. ``We would be glad.''

Jean-Michel Basquiat, whose art at the fair is priced as

high as $4 million, is an artist Broad started buying in 1982 for

$5,000 to $25,000. ``Now, the insurance is more than we paid for

the paintings,'' he said. Insurance costs for his large

collection of Cindy Sherman works, which he first bought for as

little as $150, also exceed his acquisition costs, he said.

At the press conference, Broad said his $60 million gift to

the Los Angeles County Museum of Art to build a contemporary art

gallery is part of a transformation of the city that will make it

into one of the world's top art centers. With $10 million of the

money, LACMA purchased Richard Serra's largest sculpture, a

twisting work called ``Band,'' Broad said.

The gallery would make Los Angeles ``one of the four major

cultural capitals with New York, London and Paris,'' Broad said.

The new gallery, added to other spaces, would give the city more

square footage for contemporary art than any other, he said.

 

Fortune

 

In the past two years, Broad, a founder and former chief

executive officer of the homebuilder KB Home and insurer

SunAmerica Inc., paid $11.8 million for a 1962 Andy Warhol

painting of a Campbell's soup can and $23.8 million for a David

Smith ``Cubi'' piece, an auction record for a contemporary

sculpture.

Broad's fortune, valued at $5.8 billion by Forbes magazine,

is financing the U.S. arts scene with gifts and loans. Michigan

State University just received $26 million from Broad for a new

campus museum.

The Broad Contemporary Art Museum at LACMA is due to open on

Feb. 9. Housing works from Broad's California art foundation,

including Warhol, John Baldessari and Joseph Beuys, it will put

more of his art in the public realm, and bring more living

artists to the Los Angeles museum.

 

Californian Art

 

Asked why so many of his artists were from outside

California -- a complaint of some Los Angeles dealers -- Broad

said that about 20 percent of his collection, including

Baldessari and Ed Ruscha, was Californian.

LACMA has raised $188 million in gifts and pledges,

including Broad's 2004 contribution, for phase one of its

expansion and to double its endowment, according to its Web site.

Michael Govan took over last year as chief executive officer

after running the Dia Art Foundation in New York.

On the list of Broad's recent acquisitions are 570 works by

the German artist Beuys, and art by Chris Burden and Franz

Ackermann.

The collector's art foundation owns about 1,800 contemporary

works, bought in the past 20 years, and adds some 50 works a

year, according to the Broad Art Foundation's Web site.

Prices of the top contemporary works have risen 20 percent

since December and have quadrupled in a decade, according to

index-maker Art Market Research.

Art Basel organizers expect some 56,000 visitors to spend

$500 million on art at 300 galleries through June 17. The next

day, London auctioneers start sales valued at as much as $856

million.

Zurich-based UBS AG, Europe's biggest bank by assets, is Art

Basel's main backer.

 

--Editors: Beech (jmr/fnn)

[spider9698]

Very interesting. Thanks for the post, Gene. Wouldn't suprise me to see the same thing happen here.

[Jeffro.]

Welcome Mr. Glass.

 

There doesn't appear to be a lot of interest in discussing Art on this board except as it pertains to Original Comic Art.

 

Good Luck.

 

Well....that is just plain MYOPIC!

 

 

And KRAZY!

[Artemaria]

Very interesting. Thanks for the post, Gene. Wouldn't suprise me to see the same thing happen here.

 

I'll be watching. . . . .

[Legion of Goom]

I think Eli Broad is right on the money....there's been alot of auction results that just flat out look overheated. Granted, not every artist out there will suffer such a drop in prices- even in a bear market, not everything goes down- but prices as a hole are too high right now.

[TonyS-migration]

I think Eli Broad is right on the money....there's been alot of auction results that just flat out look overheated. Granted, not every artist out there will suffer such a drop in prices- even in a bear market, not everything goes down- but prices as a hole are too high right now.

 

Nobody is selling their Romita ASM Covers issues #1 - #61 for less than 100K. So I dont see prices dropping on THE BEST. Yes, modern inflated stuff will drop but Romita, Ditko etc... is only going up to the hundreds of thousands level in the next 10 years.

[comix4fun]

I think Eli Broad is right on the money....there's been alot of auction results that just flat out look overheated. Granted, not every artist out there will suffer such a drop in prices- even in a bear market, not everything goes down- but prices as a hole are too high right now.

 

Nobody is selling their Romita Covers issues #1 - #61 for less than 100K. So I dont see prices dropping on THE BEST. Yes, modern inflated stuff will drop but Romita, Ditko etc... is only going up.

 

 

Romita covers did not start at #1

 

and large art Romita ended with issue #52 or #53 and the small art ones certainly will and do sell below the $100k mark.

 

Small art Romita ASM covers seem to be moving in the $12k to $30k for the most exceptional pieces. There have been over a dozen examples in the last 2 years or so.

 

Chris

[TonyS-migration]

I think Eli Broad is right on the money....there's been alot of auction results that just flat out look overheated. Granted, not every artist out there will suffer such a drop in prices- even in a bear market, not everything goes down- but prices as a hole are too high right now.

 

Nobody is selling their Romita Covers issues #1 - #61 for less than 100K. So I dont see prices dropping on THE BEST. Yes, modern inflated stuff will drop but Romita, Ditko etc... is only going up.

 

 

Romita covers did not start at #1

 

and large art Romita ended with issue #52 or #53 and the small art ones certainly will and do sell below the $100k mark.

 

Small art Romita ASM covers seem to be moving in the $12k to $30k for the most exceptional pieces. There have been over a dozen examples in the last 2 years or so.

 

Chris

 

Large Art ends at #61 not #52 or #53. I assumed everyone knew Romita began at #39 but was referring to ASM Large Art generally as an example of THE BEST.

 

Small art depends on the # and can range from 15k - 100k [ie: issue #100].

 

That said, I stand by my statement that no LARGE ART Romita Covers will ever sell below 100K.

[Mister Trent]

I think Eli Broad is right on the money....there's been alot of auction results that just flat out look overheated. Granted, not every artist out there will suffer such a drop in prices- even in a bear market, not everything goes down- but prices as a hole are too high right now.

 

Nobody is selling their Romita Covers issues #1 - #61 for less than 100K. So I dont see prices dropping on THE BEST. Yes, modern inflated stuff will drop but Romita, Ditko etc... is only going up.

 

 

Romita covers did not start at #1

 

and large art Romita ended with issue #52 or #53 and the small art ones certainly will and do sell below the $100k mark.

 

Small art Romita ASM covers seem to be moving in the $12k to $30k for the most exceptional pieces. There have been over a dozen examples in the last 2 years or so.

 

Chris

 

Large Art ends at #61 not #52 or #53. I assumed everyone knew Romita began at #39 but was referring to ASM Large Art generally as an example of THE BEST.

 

Small art depends on the # and can range from 15k - 100k [ie: issue #100].

 

That said, I stand by my statement that no LARGE ART Romita Covers will ever sell below 100K.

 

Damn shame you don't own any . . .

[TonyS-migration]

I think Eli Broad is right on the money....there's been alot of auction results that just flat out look overheated. Granted, not every artist out there will suffer such a drop in prices- even in a bear market, not everything goes down- but prices as a hole are too high right now.

 

Nobody is selling their Romita Covers issues #1 - #61 for less than 100K. So I dont see prices dropping on THE BEST. Yes, modern inflated stuff will drop but Romita, Ditko etc... is only going up.

 

 

Romita covers did not start at #1

 

and large art Romita ended with issue #52 or #53 and the small art ones certainly will and do sell below the $100k mark.

 

Small art Romita ASM covers seem to be moving in the $12k to $30k for the most exceptional pieces. There have been over a dozen examples in the last 2 years or so.

 

Chris

 

Large Art ends at #61 not #52 or #53. I assumed everyone knew Romita began at #39 but was referring to ASM Large Art generally as an example of THE BEST.

 

Small art depends on the # and can range from 15k - 100k [ie: issue #100].

 

That said, I stand by my statement that no LARGE ART Romita Covers will ever sell below 100K.

 

Damn shame you don't own any . . .

 

Never said I did.

 

I merely recognize THE BEST OA will not be going down in value as it is still CHEAP. Never claimed to own anything.

[comix4fun]

 

Small art depends on the # and can range from 15k - 100k [ie: issue #100].

 

That said, I stand by my statement that no LARGE ART Romita Covers will ever sell below 100K.

 

Your proposal mentioning Romita #1-61 covers seemed so Krazy I tossed all Romita ASM art into the mix of large vs. small.

 

Maybe you should ask Mike Burkey about issue #100.

He had it and sold it and it wasn't that long ago.....

It did not approach $100k.

 

Aside from the #100 cover that just sold/traded well below your $100k estimate what other small art covers actually have sold about $30k?

 

Does your analysis include the #59 cover that was priced in the range of $75k last summer with no buyers?

 

I really hope your pieces make it to the million dollar mark someday so you can stop coming back under all these aliases with the same song and dance.

 

The same shrill shill hard sell is really hard on the eyes and ears.

 

Welcome back by the way, however long this alias lasts.

 

C

[TonyS-migration]

Small art depends on the # and can range from 15k - 100k [ie: issue #100].

 

That said, I stand by my statement that no LARGE ART Romita Covers will ever sell below 100K.

 

Your proposal mentioning Romita #1-61 covers seemed so Krazy I tossed all Romita ASM art into the mix of large vs. small.

 

Maybe you should ask Mike Burkey about issue #100.

He had it and sold it and it wasn't that long ago.....

It did not approach $100k.

 

Aside from the #100 cover that just sold/traded well below your $100k estimate what other small art covers actually have sold about $30k?

 

Does your analysis include the #59 cover that was priced in the range of $75k last summer with no buyers?

 

I really hope your pieces make it to the million dollar mark someday so you can stop coming back under all these aliases with the same song and dance.

 

The same shrill shill hard sell is really hard on the eyes and ears.

 

Welcome back by the way, however long this alias lasts.

 

C

 

Blah, blah, blah...you are a broken record.

 

Avoiding my KEY point.

 

Namely, that one cannot get LARGE ART ASM Covers for less than $100,000.

 

You cite small art covers -

 

You cite the #59 [which, huh supports my point]

 

http://www.anthonysnyder.com/GalleryPiec...0&From=Room

 

You cite altta nonsense but cannot admit that I am correct.

 

Keep on spinnin' your broken record.

[chrisco37]

Blah, blah, blah...you are a broken record.

 

Uh...yeah. He's the broken record.

[comix4fun]

Small art depends on the # and can range from 15k - 100k [ie: issue #100].

 

That said, I stand by my statement that no LARGE ART Romita Covers will ever sell below 100K.

 

Your proposal mentioning Romita #1-61 covers seemed so Krazy I tossed all Romita ASM art into the mix of large vs. small.

 

Maybe you should ask Mike Burkey about issue #100.

He had it and sold it and it wasn't that long ago.....

It did not approach $100k.

 

Aside from the #100 cover that just sold/traded well below your $100k estimate what other small art covers actually have sold about $30k?

 

Does your analysis include the #59 cover that was priced in the range of $75k last summer with no buyers?

 

I really hope your pieces make it to the million dollar mark someday so you can stop coming back under all these aliases with the same song and dance.

 

The same shrill shill hard sell is really hard on the eyes and ears.

 

Welcome back by the way, however long this alias lasts.

 

C

 

Blah, blah, blah...you are a broken record.

 

Avoiding my KEY point.

 

Namely, that one cannot get LARGE ART ASM Covers for less than $100,000.

 

You cite small art covers -

 

You cite the #59 [which, huh supports my point]

 

http://www.anthonysnyder.com/GalleryPiec...0&From=Room

 

You cite altta nonsense but cannot admit that I am correct.

 

Keep on spinnin' your broken record.

 

 

KK....avoiding my refutation does not make your point stronger.

 

In the last year... the #59 was for sale at $75k with no takers and now it is for sale for $100k with no takers...it is the same seller. It never changed hands.

It has been up for sale for about a year at these price levels and has not moved.

 

An asking price is not a selling price....If wishes were fishes we'd be hip deep in sushi....so it, huh, doesn't support your point.

 

And I noticed no comment on your mention of the #100 cover being a $100k cover even though it changed hands recently at nowhere near that number.

 

Create another alias so that at least one person will agree with you.

[TonyS-migration]

Small art depends on the # and can range from 15k - 100k [ie: issue #100].

 

That said, I stand by my statement that no LARGE ART Romita Covers will ever sell below 100K.

 

Your proposal mentioning Romita #1-61 covers seemed so Krazy I tossed all Romita ASM art into the mix of large vs. small.

 

Maybe you should ask Mike Burkey about issue #100.

He had it and sold it and it wasn't that long ago.....

It did not approach $100k.

 

Aside from the #100 cover that just sold/traded well below your $100k estimate what other small art covers actually have sold about $30k?

 

Does your analysis include the #59 cover that was priced in the range of $75k last summer with no buyers?

 

I really hope your pieces make it to the million dollar mark someday so you can stop coming back under all these aliases with the same song and dance.

 

The same shrill shill hard sell is really hard on the eyes and ears.

 

Welcome back by the way, however long this alias lasts.

 

C

 

Blah, blah, blah...you are a broken record.

 

Avoiding my KEY point.

 

Namely, that one cannot get LARGE ART ASM Covers for less than $100,000.

 

You cite small art covers -

 

You cite the #59 [which, huh supports my point]

 

http://www.anthonysnyder.com/GalleryPiec...0&From=Room

 

You cite altta nonsense but cannot admit that I am correct.

 

Keep on spinnin' your broken record.

 

 

KK....avoiding my refutation does not make your point stronger.

 

In the last year... the #59 was for sale at $75k with no takers and now it is for sale for $100k with no takers...it is the same seller. It never changed hands.

It has been up for sale for about a year at these price levels and has not moved.

 

An asking price is not a selling price....If wishes were fishes we'd be hip deep in sushi....so it, huh, doesn't support your point.

 

And I noticed no comment on your mention of the #100 cover being a $100k cover even though it changed hands recently at nowhere near that number.

 

Create another alias so that at least one person will agree with you.

 

You are one of the slowest witted posters [next to MisterTrent] that occupy this board. I honestly dont know why you are so thick headed.

 

I stated that no LARGE ART ASM Covers will likely ever sell at below $100K.

 

You selected the ASM #59 Cover [which has an ask price of 100K] to prove ypur point....when all it does is prove mine..

 

You rally & bally-hoo about the lack of a bidder but miss the KEY POINT,...PRICE is determined at the intersection of bidder AND SELLER. And,...if the seller's ask price is 100k...this is pretty good evidence to supporrt MY POINT.

 

So why should I address tangent issues which you have dredged up to confuse & obfuscate MY POINT,....when you cant even play fair by using a little thing I like to call.........

 

[drum-roll].....

 

LOGIC!!!!!!!!!!!!!!

[malvin]

When he first started posting, I thought the experienced board members jumped the gun when they assumed/accused him to be KK.

 

Guess they were right! Good thing I didn't speak up to defend the "innocent newcomer"