The BBC explains recent Christie’s London sales:

A “blue period” Picasso has fetched £34.7m at auction in London.

Christie’s says the event will be the biggest art auction ever held in London. It forms the centrepiece of a week of arts sales in the capital, where a self-portrait by Edouard Manet has already been snapped up for £22m.

Prices have soared recently, with Picasso’s 1932 picture Nude, Green Leaves and Bust fetching $106m (£72m) in New York last month, making it the most expensive art work sold at auction.

Read the full article

In The Wall Street Journal’s A Flight to Tangibles, world famous art dealer David Nahmad describes the art market. “It is simple,” says David Nahmad, one of the world’s most famous art dealers. “A lot of investors are distrustful of equities. They are terrified of cash that pays 0% at the bank and is threatened by the ‘great inflation’ lying one to two years ahead.”

He adds, “There is no argument over their worth; they just grow constantly in value in an art market that is awash with money but short of supply. They are also very safe. If the world collapses but you own a Picasso, then amid the ruins you still own a Picasso. What we are seeing is a flight into tangibles. It has happened many times before.”

Read the full article

As you can see on the website, this has allowed us to have the best inventory we have ever had in our 30 year history. In order to continue this process, we are constantly running sales to raise capital for other purchases to further enhance our offerings to you. Unlike other galleries, or auction houses, there is no overhead cost as we only consist of four employees. That means we are able to give you, the customer, a lower price as we do not need to inflate the pockets of anyone. So please enjoy the sales, make your wish lists, and know more art will be coming soon.

Before and after conservation at Studio C.

Works of art are subject to a variety of disfiguring ills, many of them caused by environmental and human effects. These ills can range from small tears, stains, to natural aging to the damage caused by fluctuations of temperature and light exposure. The inks and paints that the artist themselves use can contain acids as well, and a good conservator can deacidify a work often making the work even more archival then when created.

Much of modern conservation is directed toward producing a stable, favorable situation for the display of art works and maintaining regular inspection and diagnostic procedures to combat deterioration. The conservation of a work in need of repair is done by a conservator whose work is guided by high ethical standards. Their mission is to preserve the history of the work, while at the same time bringing it back to its original state to convey the original intent and message of the artist. Museums, and other institutions of archives, often have very strict guidelines as to how their works are conserved and preserved due to the necessity that everything the conservator does to the piece must be reversible. As an art gallery we rely on the conservator for their skills and ability of inspection, to judge the condition of our works, as well as their knowledge and professionalism for when we do need them.

Effective art conservation and restoration ultimately depends upon the conservationist’s understanding of materials, technical craftsmanship, and aesthetic and historical awareness. One conservationist in particular that Masterworks Fine Art has been using for years to inspect and guide our decisions concerning the potential problems of a piece, is Diane Jeffrey of Studio Conservation Inc. She has been an instrumental aid in our success as a business and offers over 25 services designed to preserve and conserve not just original works of art, but paper, posters, and other collectibles as well. Please feel free to view her website at http://www.atstudioc.com to see what she can do for your conservation needs as she is the only one we trust for ours, or you may contact her directly at (760)721-5528 or toll free at (800) 583-8379 for any inquiries.

Sheryl McMahan                                                                                     Curatorial Registrar

Featured in the February 2010 issue of L’Objet d’art magazine, this article was written by Monsieur François Duret-Robert, veteran art-world journalist, professor, specialist in art-world jurisprudence and expert on droit moral.

It’s a family quarrel, but one that could deeply impact the image of Victor Vasarely’s works, whose origins stem from the variations of the artists’ moods.  The court has had to decide if the artist himself was aware of his actions at the end of his life, when he decided to give his confidence in the future of his works to one heir, and then later granted the same to another.  The situation was brought in front of the courts, whose first solution was to give the artist’s grandson reason.

To understand this dark story, we have to better understand the Vasarely’s.  Victor Vasarely had two sons, André, a doctor, and Jean-Pierre, a brilliant artist known as Yvaral.  Jean-Pierre had a son, Pierre, from his first marriage.  Jean-Pierre then remarried Michèle Taburno, leaving her widowed in August 2002.

The current conflict between Pierre and Michèle concerns the droit moral for the Victor Vasarely works, a right that would have been willed to his son, Jean-Pierre and then to his grandson, Pierre.

The wills are different.

In his will, dated November 28th, 1990, Victor Vasarely states “my son Jean-Pierre, artist who has complete knowledge of my works to be the unique legatee of the moral right related to my work”.  In a second will from the artist dated July 29th, 1991, the artist confirms exactly the same, but in a third will dated April 11th, 1993, he changes his will stating, “I give Pierre Vasarely my only grandson, the disposable part.  He is the only one with the capacity to ensure continuation of my work at the Vasarely Foundation, which bears my name.”

The problem, in effect, is knowing if Victor Vasarely had all of his mental faculties intact when he drafted that third will.  Dr. Patrick Fremont, the psychiatrist who examined the artist a few months later (January 1994) wrote that the artist was plagued by a disease that had obliterated him of his mental faculties and crippled his ability to express his desires.  He went on to say that the artist suffered from “an intellectual deterioration which not only affected his memory, but did not afford him the mental capacity to make any decisions”.  Then there’s the court appointed expert, Dr. François Régis Cousin, who expressed a significantly different opinion.  During his testimony in June 1999, more than two years after the death of Victor Vasarely, Dr Cousin stated that “there was no reason to doubt the artists’ mental capacity on April 11th, 1993”.

Based on that expert witness’ testimony, on March 24th, 2005, the Paris court decided that “although Victor Vasarely suffered some weakening of the spirit as a result of his advanced age and mental disease, there is no evidence to prove a state of insanity on April of 1993, nor any reason to annul the will written on that date”.  Therefore, we cannot contest the validity of the last will from a legal standpoint.

Who holds the moral right?

After Victor Vasarely and his son’s Yvaral’s death, two of their heirs claimed to hold the moral right for the Vasarely works, his daughter-in-law, Michèle and his grandson, Pierre.

Michèle invokes her husband, Yvaral’s will, which states, “I give my wife the moral rights to my work and to my father, Victor Vasarely’s work, which he willed unto me.”  Pierre on the other hand, was claiming that the artist’s last will gave him “the disposable part”, which includes the moral right.

The Aix en Provence court decided that the last will was the one that would be accepted, as a result of that decision, Pierre is currently the titleholder for the moral rights to his grandfather’ works.  More surprisingly, was the court’s order concerning the archives.

The destiny of the archives

The Aix en Provence court ordered Michèle to transfer Victor Vasarely’s archives to Pierre.  A decision like this is highly suspicious, because the indisputable fact is that Victor Vasarely himself gave Michèle his archives; there is no doubt about this.

There is the artist’s letter dated August 8, 1991, where he wrote, “to the little Michèle, I give you my archives, my folders with the condition that you will always keep them and work together with Yvaral to protect my work”.  Then, there’s the fact that in 2007, Pierre stated that Michèle has been in possession of the archives for 15 years, confirming that she received the archives in 1992, making it a “manual gift”, which by law means that there exists a consensual agreement between both parties.  There is generally no way to reverse a “manual gift”.  Therefore it is very surprising that the judges did not take this evidence into consideration, and even more surprising how the court explained their decision, stating that “the archives are indispensible and correlate to the moral right.”  That concept is incredibly difficult to defend.

Let’s pose the question clearly: what are artist’s archives for?  The response is rather evident:  to certify the authenticity of their paintings and drawings in addition to establishing the catalogue raisonné.  Having the moral right does not include any prerogative on either certifying authenticity of the cataloguing of the works.  We all know that there exists a lot of confusion about this in the artworld, and many people confuse the moral right and the ability to certify the authenticity of the works, but there is an abundant amount of jurisprudence that support the fact that these functions are not one in the same.

The Paris court said that “the prerogatives of the moral rights, which belongs to the heirs, is simply to protect the image of the artists, since the knowledge they purport to have about the artists’ creations does not give them any power on authenticity.”

When you look at all the different judgments and court decisions regarding moral rights, the very limited credit the courts give the artist’s heirs is stunning.  Additionally, the certificates of authenticity created by the owner of the moral rights carry little weight in the courts eyes.  As for the realization of the catalogue raisonné, there is no implication that this privilege belongs to the artists’ heir.  The completion of a catalogue raisonné, the scientific classification of the artist’s works, can belong to anyone.  The only necessity is to respect the copyright obligations associated with the works.

Returning to the Vasarely affair, the question now is who will be recognized as the specialist for the artist’s work?  The answer is simple:  the person (he or she) that proves they are the most knowledgeable in the artists’ works.  Whether or not they hold the title to the moral rights is not important, and justly so.

As people become less comfortable with intangible investments, such as stock market shares, we are seeing a reallocation of moneys to tangible assets, such as precious metals, gems, and fine art. As the returns continue to grow, so will the art market.

In November 2009, Sotheby’s New York estimated Andy Warhol’s “200 One Dollar Bills” at $8 million to $12 million. It sold at an impressive $43.8 million . “Bidding was very deep tonight. There is a great desire for great art - consumer behaviour has started to accelerate,” said Sotheby’s head of contemporary art Tobias Meyer.  Also in November, a metal multiple by Victor Vasarely beat out estimates by over 300%.

These recent hammer prices prove that there is a revitalized demand for beautiful art going into 2010.

UPDATE (Feb. 10, 2010): Yet again, hammer prices are soaring well over high estimates on auctions in 2010 at Sotheby’s and Christie’s. A Nazi-looted Gustav Klimt painting was estimated at $19 mil to $29 mil, and sold for $45.4 mil.

MIRO, MIRO ON THE WALL: Art dealer Alex Adelman of Masterworks Fine Art Inc. stands by the work of artist Joan Miro. Since 1998, donations of art to the Kensington Education Foundation from Adelman raised more than $45,000 for the programs at Kensington Hilltop Elementary School. This year Adelman is contributing several works including pieces by Pablo Picasso, Marc Chagall, Joan Miro, Kathé Kollwitz, Marcoantonio Raimondi, Georges Braque and James Abbott Whistler. The works will be auctioned at the Garden Party November 8 at the Unitarian Universalist Church in Kensington.

At a time when school districts are slashing their curricula, students in Kensington enjoy courses in such areas as art thanks to the likes of Pablo Picasso, Marc Chagall and Alex Adelman.

Adelman, an art dealer who runs the online Masterworks Fine Arts Inc., has donated works of art to the Kensington Education Foundation’s Garden Party auction since 1998. In four years, those donation raised more than $45,000 for the school to support art, science, computer and other programs.

Despite moving out of Kensington and not having children, Adelman continues to donate works of art to support the elementary school.

“I still have roots in the community. I still have friends in the community,” he said. “I’ve always believed the first priority in any community has to do with education.”

This year marks the twentieth anniversary of the Garden Party, an annual fundraising event that combines food, drink, live music and both a silent and live auction. For many in the community, the gala represents the social event of the year. But the Garden Party also accounts for more
than half of the Kensington Education Foundation’s annual $170,000 budget.

This year with continued pressure on finances in Sacramento as well as the budget pressures on the West Contra Costa Unified School District, foundation members say it is more important than ever to bring in money to keep the programs it funds going.

“We’re faced with more drastic cutbacks next year and we have the feeling we are going to have to pick up more programs to cover what the district can’t” said Esther Hill, president of the Kensington Education Foundation.

In addition to the fine art being offered, auction items range from a day on the Delta with science teacher Jan Lovell to a day in the life of a Tugboat donated by Ted Blanckenburg. There are also getaways including one to Ventana at Big Sur, a ride in the KGO helicopter and the private tasting of reserve wines and a cave tour for six people at the Moon Mountain Vineyard.

The Oakland-based real estate firm Grubb & Co. is underwriting part of the cost of theevent this year with a $3,500 donation.

The Garden Party will begin at 5:30 p.m. Saturday Nov. 8 at the Unitarian Universalist Church at 1 Lawson Road in Kensington. Advance tickets can be purchased for $45 each by calling Christy Wise at 558-1842 or at the door for $50 each.

Alex Adelman’s path to being a gallery owner has been somewhat circuitous. Although he’s been a collector of fine art since he was 15, his studies led him not only to art history, and printmaking, but to anthropology and archaeology as well. Then in the late 1980’s, while working on an anthropology dissertation, he made an abrupt decision to return to the States and switch gears again back into fine art mode.

Adelman accepted a position as a salesman for a large corporate chain of galleries, eventually becoming the director of its largest location. After six years of learning — as he puts it– how to sell and not to sell artwork, he decided to strike out on his own. So in 1993, he became one of the pioneers of selling artwork online, running a virtual gallery from his home in Berkeley, California. This model has proved successful for Adelman, who still does the bulk of his transactions online…

Alex Adelman with framed “L’Issue Derobee”, by Joan Miró

Adelman has strong opinions on the way that fine art should be presented and sold, including a scholar’s passion for exhaustive documentation and an epicure’s taste for expensive framing. “I think of a picture frame as a window into what the artist is trying to do,” says Adelman. And because the work he offers includes signed originals that may be worth upwards of $1 million or more, high-quality experts framing seems appropriate. To that end, Adelman’s custom framer Baxter Quinn play an integral role in his business. After eight years of collaboration, Adelman says that he is very comfortable allowing Quinn to initiate framing design ideas. “By this point we dance ver well together,” says Adelman. “I sometimes ask for a wider mat or fillet, or something of that nature, but in general I have thighest regard for Baxter’s work.”

Joan Miró (1893 - 1983) was a well-known 20th century artist from Spain. Influenced early on by fauvism and cubism, Miró’s style became increasingly abstract and experimental. During his stay in France before and during the Spanish civil War in the 1930s, he became associated first with the Dada movement and later with the Surrealists.

The work shown is L’Issue Derobee, a color etching, aquatint and embossing executed by Miró in 1974. The work is signed by the artist in the lower right and numbered 32/200 in the lower left. Adelman estimates that the work might sell in the $8,500 range at other galleries, but it is his policy to assign a price that is well below retail, which encourages his clients to come back for more, and entices other dealers who may be able to sell the piece themselves at a substantial markup.

To frame the piece, Adelman and Quinn used a 3 1/1″ wide cold leaf frame with a double dutch compo pattern from Decor Molding. The fillet is a Larson-Juhl 1/2″ composition gold leaf fillet from the Vienna Collection. The fabric used in an off-white antique satin domestic 50:50 rayon/acetate blend.

Adelman has an admitted penchant for expensive, “glitzy” framing treatments for the fine art he offers. In this particular case, the opulence of the gold is a nice contrast to the simplicity of the subject matter, and the antique white fabric in now way detracts from or competes with the artwork. It seems fitting that DECOR should feature Adelman with a Miró etching, since it was the acquisition of a Miró at the tender age of 15 that began Aeelman’s life-long passion for collecting fine art.

Born in 1931 in Monaco, Crommelynck worked with three generations of artists. Initially as an employee of Roger Lacouriere in Paris beginning in 1947, he spent the years from 1948 – 1955 learning printmaking techniques and assisting numerous artists including Braque, Picasso, Matisse, and Miro. During this period, he formed an especially close working relationship with Picasso. In 1963, which Picasso decided he need a printer close by his house, Notre-Dame-de-Vie in Mougins. Picasso would create etchings on copper plates supplied by Crommelynck in the morning and Crommelynck would return with proofs in the afternoon. When the proofing was complete, the plates were went to Crommelynck’s studio in Paris to be editions. Crommelynck’s studio in Paris to be editions. Crommelynck’s printed for Picasso for over twenty years and collaborating on most of his intaglio projects including the series “60”, and “156”, and culminating in 1968 with Picasso’s Suite 347.

In addition to Picasso, Crommelynck printed for Braque, Matisse, Miro, Roualt, Masson, Leger, and Giacometti during their later years. After Picasso’s death in 1973 and continuing into the early eighties, he printed in Paris for numerous contemporary artists including Jim Dine, Richard Hamilton, David Hockney, Harold Hodgkin, Jasper Johns, and David Salle.

Also and his brother Pierro, had a falling out in 1984 which ended their business relationship and resulted in Pierro’s attempt to take public credit for all of Aldo’s collaborative successes. In 1986, Crommelynck formed a joint venture with Pace Editions Inc. and establish a printing studio with Pace in New York’s Soho in addition to his Paris studio where he collaborated as a printed publisher with Chuck Close, Jim Dine, George Condo, Red Grooms, Alex Katz, Claes Oldenburg, Ed Ruscha, Joel Shapiro, Donald Sulton and Terry Winters.

In 1989, the Whitney Museum organized a tribute to Crommelynck, Aldo Crommelynck Master Prints with American Artists. He received the Grand Prix Nationale Des Metiers D’Art in 1989. Jim Dine and Aldo collaborated on over 100 prints from 1976 to 1997, many of which were included in an exhibition, Aldo et Moi, at the Bibliotheque Nationale de France, Paris in 2007.

In 2000, Aldo retired to Paris.

For further information – contact Richard Solomon (212) 219-8000, ext.22.

Oliver has included a brief summary of her work below:

“This paper will explore the issues of authentication, value, and fraud that arise with the sale of fine art prints, and provides working definitions of the often misunderstood types of prints such as etchings, serigraphs, Giclée prints, and other terms used in and around print making and certificates of authenticity.  It provides information about numbering of limited edition prints, disclosures that are often required with the sale of such prints, and information about the significance of chop marks and copyright and trademark notices.  It includes information and resources about art agents and art licensing” (3). [Oliver & Sabec P.C., San Francisco, CA | tel 415.641.1116]

We highly encourage the due diligence of all of our prospective clients, interested collectors, and curious art lovers to take the time to engage, research, and become better informed about the art that drives their interest.  Masterworks is dedicated to its role as the primary online resource within the fine art and print community and believe that Oliver’s article is a great direction towards encouraging open, honest relationships between art dealers and their clients.*

Download PDF here (text version)