13th Sept - Art News in 5 Minutes

Your trusted Friday collection of the latest news in the ever-evolving art world. Each week, the Maddox Research Team curates a snapshot of art trends, events and insights that you need to know about from the past week.

1) Saatchi Auctions Iconic Art Collection for Charity

Charles Saatchi is auctioning off 75% of his contemporary art collection in three online sales on Artsy, with proceeds going to the Great Ormond Street Hospital Charity. The collection includes works by prominent artists like Damien Hirstand Tracey Emin, as well as lesser-seen conceptual pieces. All 500 works in the three sales have been previously exhibited at the gallery and have been featured in its international program over the last 20 years, according to the Saatchi Collection team.

2) Lichtenstein's Southampton Estate Hits the Market

Roy Lichtenstein, who passed away 27 years ago, has his Southampton residence at 50 Gin Lane is available for sale this month. Interested buyers can acquire the 1.93-acre estate, featuring Lichtenstein's former studio, for $19.99 million. The sale is being managed by Sotheby’s International Realty.

3) Dairo Vargas Mural Shines in Architectural Digest

A captivating mural by Dairo Vargas has been featured in the printed edition of Architectural Digest. The mural adorns the residence of designer Pamela Shamshiri’s client, Jana Bezdek, nestled in the vibrant enclave of Greenwich Village, New York.

4) Christie’s to Auction Proximus' Corporate Art Collection

Christie’s will auction works from the collection of Belgian digital communication company Proximus whose collection spans over 600 works. The sale will feature 71 contemporary artworks by notable artists like Robert Indiana, RoyLichtenstein and Damien Hirst. Representing one of Belgium’s largest corporate collections, the proceeds will support the enhancement of the Proximus Art Collection.

Frieze Seoul 2024 marked its third edition at the COEX Center, running alongside the Korean International Art Fair (Kiaf). Drawing over 70,000 visitors, including representatives from 130 museums.

Major galleries reported some significant sales and strong interest, particularly in both local Korean artists and global contemporary figures. Galleries highlighted the growing engagement of South Korean collectors and the global relevance of Seoul’s art market, underscored by concurrent events like the Gwangju and Busan Biennales. Notably, Frieze Seoul saw a higher number of six-figure sales than its counterpart, The Armory Show, which took place in New York. Collectors and dealers alike remained optimistic despite wider art market uncertainties.

Yoshitomo Nara’s Agent Orange (In the Milky Lake) will be the next artwork to be featured in Sotheby’s Sealed Auction. The work is a quintessential example of his mature artistic style, featuring his signature child-like protagonist submerged in a rippling lake. The painting juxtaposes innocence and subversion, symbolised by the character's playful expression and the allusion to the Vietnam War’s Agent Orange.

Created between 2000 and 2012, Agent Orange is one of only eleven large-scale pieces featuring a child standing in water, with its soft colour palette and delicate brushwork encapsulating a sense of tranquility and subtle emotional depth. This painting is considered a significant achievement in Nara’s career, highlighting his ability to merge personal, historical, and emotional narratives into a singular, captivating composition.

Comparable Works in Institutional Collections

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Created by the Maddox Research Team on the 13th September 2024.