1992 Redux?

In the early nineties, more than 70 New York galleries went out of business.

Could it happen again? No, say many observers—today’s art market is too global, too rich, even too smart to suffer such a wrenching setback. All the same, one shouldn’t forget that the art market’s biggest climb ever has been based in part on a growing pile of dealer debt. Dealers have borrowed against inventory to fuel bigger shows, art-fair exhibits, and satellite galleries all over the world...

There are now 360 galleries in Chelsea, up from 124 eight years ago. Already, Craigslist has seen a slight bump in its rental listings for gallery spaces in the area. A couple of them even read “Currently an art gallery.”

Read this very interesting piece by Alexandra Peers in New York Magazine here.

Seeing Double

El Greco painted several versions of "Christ Driving the Merchants from the Temple," and in the process set the OK standards for generations of artists to re-visit the same theme or image over and over in their work.

"You are not seeing double. Sotheby’s and Christie’s both have mystical gray-and-black paintings by Mark Rothko, executed the same year and painted on the same size (60 by 68 inches) canvas. The sellers of Sotheby’s version, the Iowa collectors John and Mary Pappajohn, bought it at Christie’s for $800,000 in 1996. Christie’s Rothko was purchased from the John Weber Gallery by an unidentified collector. Why Sotheby’s Rothko is supposedly worth $2 million to $3 million more is anyone’s guess."

NYT's Carol Vogel discusses the fall auction season's star offerings as the millions continue to pour into the secondary art market. Read it here.

Good News

Last August, The Washington City Paper added a new writer to the DC area art scene, and Maura Judkis has been a refreshing new voice to the region's critical dialogue.

Thanks to the art gods that the CP understands the critical importance of having different voices delivering art criticism to a region. It amazes me that the CP understands and can afford to do this, but the WaPo doesn't and won't - neither the "new" Style nor the "Weekend" section editors!

If you don't get it, you don't get it.

Much Ado About Oil and Water

The Smithies have to return a $5M donation because of mixing oil and water. Read it here.

Feh!

Use the money to do some roof repairs instead.

Don't give it back.

Botero Opens Tuesday

"Fernando Botero: Abu Ghraib" opens Tuesday at the American University Museum at the Katzen Arts Center in DC.



Tomorrow's WaPo will have this article on the works by Erica Jong.

This will be one of the major exhibitions of 2007 for the entire Mid Atlantic and I bet that it will set new attendance records for the Katzen.

My own thoughts on Botero and his torture paintings are here.

AAC Survey

The Arlington Arts Center has an online survey here to help them fine tune their programming.

It only takes a few minutes; take it here.

Saturday Openings in DC

Loads of good shows are opening in DC tomorrow: Kathryn Cornelius at Curator's Office, Linn Meyers at G Fine Art, and James Huckenpahler & David Byrne at Hemphill. The openings are from 6pm-8pm.

Also catch Nicholas Khan & Richard Selesnick at Irvine Contemporary (till 8PM) and Lori Nix & Dane Picard at Randall Scott (till 7:30PM).