Saturday, October 04, 2008

"The response has been slow"

Joel Sternfeld's panoramic photos of Manhattan's High Line railway and Yellowstone National Park have been acquired by Morgan Stanley, Deutsche Bank AG and ING Belgium SA.

His new large-scale color prints capturing the seasonal changes of a field in central Massachusetts are having a tougher time finding buyers. The turmoil in the financial markets appears to be keeping clients from doling out $50,000 for Sternfeld's 5-foot-by-7-foot (1.5-by-2.1-meter) works exhibited at Luhring Augustine gallery in Chelsea, New York's hub for contemporary art.

"The response has been slow," says Natalia Sacasa, the gallery's senior director. Six out of 13 works have sold since the show opened on Sept. 6. "There isn't the frenzy we all have become accustomed to."
What? At $50K a pop, most gallerists would give their left nut for having a show that sells half the exhibition at those prices.

Perhaps a little insight into the differences between a power NYC gallery's expectations and view of the art world, and (ahem) the rest of the art world. Read the Bloomberg article here.