PARIS, Oct. 20, 2021 /PRNewswire/ -- This year, the FIAC
(Paris's International
Contemporary Art Fair) is taking place in the Grand-Palais Ephémère
at the opposite end of the Champs-de-Mars park from the Eiffel
Tower and is hosting 170 of the world's most prestigious galleries
until Sunday 24 October. But Jennifer
Flay, the fair's Artistic Director, has not forgotten the
crisis which forced the cancellation of the 2020 edition and called
into question much of the way our society (and the art market)
functions. She has therefore decided to maintain an online
version.
According to thierry Ehrmann, CEO and Founder of Artmarket.com
and of its Artprice department: "The FIAC online may not be the
main event, but this version (which has 40 additional galleries)
reflects a profound change in the art world, with the coexistence
of two markets: the physical one with the FIAC (and its extra-mural
shows/installations including a majestic sculpture by Alexander Calder in Place Vendôme), and the
other, fully online, that everyone can visit from their homes
on fiac.viewingrooms.com".
The art market is not just about NFTs...
For the last six months the art world has been super-excited
about blockchain, a technology that made a sensational entry to the
auction world in March 2021 with the
sale of Beeple's NFT Everydays for $69.4 million at Christie's New York. This was followed by Pak's NFTs at
Sotheby's and Mad Dog Jones's NFTs at Phillips, all of which
prompted massive media commentary and substantially rocked the
notion of what artistic creation is and how it circulates in the
early 21st century.
In its H1 2021 Art Market Report
(https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2021) Artprice
nevertheless point outs that public sales of NFTs only accounted
for 2% of global fine art auction turnover, a niche market,
divided between New York (90%) and
Hong Kong (9%) and represented
less than 100 lots in total during the first six months of
2021.
The traditional market for painting therefore remained 35
times larger than that of NFTs. However, in just six
months of existence, the latter is already twice as prosperous as
the market for photographic art works, which saw 10,000 lots sold,
but only generated $66 million (half
the NFT market over the same period).
Paris: cautious but not
backseat
Like every autumn, the French capital hosts an extraordinary
range of exhibitions, covering almost the entire history of art:
from Botticelli at the Jaquemart-André Museum to Georg Baselitz and
Georgia O'Keeffe at the Pompidou
Center, through to the Morozov Collection at the Louis Vuitton
Foundation and the newly-opened Pinault Collection at the Bourse de
Commerce.
At the same time, Almine Rech
and Galerie Perrotin are presenting
the work of one of the most talented representatives of current
French artistic creation, Claire Tabouret. Two other galleries,
Lévy Gorvy and Nathalie Obadia, are
showing work by the African-American artist Mickalene Thomas.
Top 3 living French artists by auction turnover (H1
2021)
1 - Pierre Soulages (1919):
$30,680,000
2 - Claire Tabouret (1981): $3,011,000
3 - Robert Combas (1957):
$2,820 000
Paris wants to be eclectic and
forward-looking as reflected in the award this year of the Marcel
Duchamp Prize (which Artprice is very proud to support) to
Lili Reynaud Dewar. Meanwhile, the
4th International Digital Arts Biennial is currently taking place
at Centquatre-Paris.
Still behind London
The Parisian art market hopes to benefit from Brexit and a
number of prominent galleries like Lévy Gorvy and David Zwirner have opened Parisian
outlets in anticipation of a certain isolation of the UK market and
Larry Gagosian is inaugurating a
third space in the French capital. But since the UK's official exit
from the EU, the balance between the two capitals has not changed
that much.
During Frieze Week high-quality works by Basquiat, Richter and
Hockney were successfully auctioned in London bringing a measure of reassurance to
the local market. And the reappearance of Banksy's Girl with
Balloon, re-baptized Love is in the bin (the one that
partially self-destructed in 2018 after selling for $1.4 million) generated a spectacular 'event',
and a very spectacular result at $25.4
million.
In Paris, no lot offered by
Christie's or Sotheby's is expected to reach such heights during
the FIAC, despite the sale of some excellent Avant-Garde pieces by
Magritte, Manet and Picabia, among others... So while the galleries
show the best Contemporary creations at FIAC and in their
respective outlets, the auction houses continue reminding us that
Paris was long the artistic
capital of the world...
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[https://imgpublic.artprice.com/img/wp/sites/11/2021/10/image2-Robert-DELAUNAY-La-Tour-Eiffel.jpeg]
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