March 5 (Bloomberg) -- A creepy portrait of Bernard Madoff found no fans at the Armory Show in Manhattan yesterday.
The 7-foot-wide black-and-white watercolor appeared to repel visitors right out of David Zwirner’s stand.
“Just look at that smirk,” Zwirner said of the work by Chinese artist Yan Pei-Ming, who based his image on a familiar photograph of the alleged Ponzi meister wearing a baseball cap.
Three hours into the fair’s preview, not a single collector had inquired about the $100,000 price, Zwirner said.
The 11th annual Armory Show on Manhattan’s West Side piers yesterday welcomed several thousand collectors who strolled the stands, many in no particular rush to open their wallets.
“With the economy, I’m not in the mood to buy,” said Phyllis Mack, wife of William L. Mack, chairman of Mack-Cali Realty and chairman of the board at the Solomon R. Guggenheim Foundation. “But I’m loving looking at beautiful pictures.”
Tennis great John McEnroe cruised the aisles, waiting for something to catch his eye. Was he having fun? “Trying!” he said.
Film director Sofia Coppola, collector Danielle Ganek -- wife of hedge-fund manager David Ganek -- and MSD Capital’s Glenn R. Fuhrman also made the rounds.
Smattering of Sales
Several hours into the opening, there were a smattering of sales and works put on hold, or “reserve,” but business was slower than previous years.
“What is the likelihood we are going to sell everything, like in years past?” asked Marc Glimcher, president of PaceWildenstein gallery. “Nil.”
Glimcher’s stand featured a 20-foot-long $650,000 Alex Katz painting and Tara Donovan’ shiny Mylar sculpture for $150,000.
Pace’s biggest attraction were bowls stacked with free Twinkies, Ring Dings and Devil Dogs.
“It’s for comfort,” said Glimcher, who dressed down in jeans instead of his usual Christian Dior suit. “A little something to take the edge off.”
The fair, which includes 243 exhibitors from 55 countries, opens to the public today and continues through Sunday. Covering 84,000 square feet on Piers 92 and 94, the show is an excellent gauge of the health of the art market.
The subdued mood was a sharp contrast to the fair just two years ago, when frenetic collectors hustled the aisles, competing for the hot and new.
No Frenzy
“There’s no frenzy, it’s laid-back,” said painter Chuck Close, surveying the scene.
He said he expected stronger offerings.
“I thought the quality of the art would bring would be better,” he said. “Instead, some of the galleries have emptied out their backrooms.”
Business was brisk for $12 sangrias at the bar, while at the Ronald Feldman Fine Arts stand, artist Christine Hill role- played as an apothecary, dispensing fake prescriptions and remedies for $20. She had 35 takers by 5 p.m.
Art adviser Elizabeth Jacoby whipped off a pair of oversized sunglasses.
“Forget the recession,” said Jacoby. “We are in it to win it.” She asked for a “happy pill.”
Despite the economic doldrums, there were some quick sales. Nicole Klagsbrun sold Adam McEwen’s orange painting with the words “Pay 1/2 Price,” to a European collector shortly after the start of the fair. The asking price: $6,500. No discount.
The 7-foot-wide black-and-white watercolor appeared to repel visitors right out of David Zwirner’s stand.
“Just look at that smirk,” Zwirner said of the work by Chinese artist Yan Pei-Ming, who based his image on a familiar photograph of the alleged Ponzi meister wearing a baseball cap.
Three hours into the fair’s preview, not a single collector had inquired about the $100,000 price, Zwirner said.
The 11th annual Armory Show on Manhattan’s West Side piers yesterday welcomed several thousand collectors who strolled the stands, many in no particular rush to open their wallets.
“With the economy, I’m not in the mood to buy,” said Phyllis Mack, wife of William L. Mack, chairman of Mack-Cali Realty and chairman of the board at the Solomon R. Guggenheim Foundation. “But I’m loving looking at beautiful pictures.”
Tennis great John McEnroe cruised the aisles, waiting for something to catch his eye. Was he having fun? “Trying!” he said.
Film director Sofia Coppola, collector Danielle Ganek -- wife of hedge-fund manager David Ganek -- and MSD Capital’s Glenn R. Fuhrman also made the rounds.
Smattering of Sales
Several hours into the opening, there were a smattering of sales and works put on hold, or “reserve,” but business was slower than previous years.
“What is the likelihood we are going to sell everything, like in years past?” asked Marc Glimcher, president of PaceWildenstein gallery. “Nil.”
Glimcher’s stand featured a 20-foot-long $650,000 Alex Katz painting and Tara Donovan’ shiny Mylar sculpture for $150,000.
Pace’s biggest attraction were bowls stacked with free Twinkies, Ring Dings and Devil Dogs.
“It’s for comfort,” said Glimcher, who dressed down in jeans instead of his usual Christian Dior suit. “A little something to take the edge off.”
The fair, which includes 243 exhibitors from 55 countries, opens to the public today and continues through Sunday. Covering 84,000 square feet on Piers 92 and 94, the show is an excellent gauge of the health of the art market.
The subdued mood was a sharp contrast to the fair just two years ago, when frenetic collectors hustled the aisles, competing for the hot and new.
No Frenzy
“There’s no frenzy, it’s laid-back,” said painter Chuck Close, surveying the scene.
He said he expected stronger offerings.
“I thought the quality of the art would bring would be better,” he said. “Instead, some of the galleries have emptied out their backrooms.”
Business was brisk for $12 sangrias at the bar, while at the Ronald Feldman Fine Arts stand, artist Christine Hill role- played as an apothecary, dispensing fake prescriptions and remedies for $20. She had 35 takers by 5 p.m.
Art adviser Elizabeth Jacoby whipped off a pair of oversized sunglasses.
“Forget the recession,” said Jacoby. “We are in it to win it.” She asked for a “happy pill.”
Despite the economic doldrums, there were some quick sales. Nicole Klagsbrun sold Adam McEwen’s orange painting with the words “Pay 1/2 Price,” to a European collector shortly after the start of the fair. The asking price: $6,500. No discount.
Posts
