THIS WEEK IN THE ART MARKET – FRIDAY 19TH JULY 2024

To view previous editions of "This Week in the Art Market" click here

A GIANT WARHOL "MAO" COULD BE ON THE MARKET

There is news of at least two major paintings on the market that appear to come from China: a Warhol that, according to a source close to the gallery, is priced in excess of $100 million and a Basquiat that sold in 2013 for $29 million.

?Warhol famously created no fewer than 199 images of “Mao,” but this isn’t just any “Mao.” It is the only one of the four so-called “giant Maos”—they stand a full 15 feet high—that is not in a museum.

?Owned by collector, Larry Gagosian, “Mao” was publicly on the market was in 2008, when Christie’s, in collaboration with London dealer James Mayor, sent the painting to Hong Kong with a price tag of $120 million.

?The four “giant Mao” paintings are so big that Warhol had to make them in the Factory’s screening room rather than the painting studio.

Read more here?

YOSHITOMO NARA'S RETROSPECTIVE AT GUGGENHEIM BILBAO

?The Guggenheim Bilbao Museum presents its first major European retrospective of Japanese artist Yoshitomo Nara, showcasing his works from 1984 to 2024. Titled "Yoshitomo Nara," the exhibition, curated by Lucía Agirre and sponsored by the BBVA Foundation, features paintings, drawings, sculptures, and installations that delve into Nara’s introspective and nostalgic universe.

?Nara's wide-eyed, large-headed children and allegorical iconography reflect his childhood memories, radical coming-of-age experiences, and influences from music and popular culture. The exhibition is arranged by technique and material rather than chronology, providing insight into his organic creative process.

?Nara was the 3rd highest selling artist ranked by sales value in 2023.

?Read more here

??

YAYOI KUSAMA'S GIANT POLKA-DOTTED PUMPKIN INSTALLED IN LONDON'S KENSINGTON GARDENS

?Japanese artist Yayoi Kusama has unveiled her latest monumental sculpture, a 19.5-foot tall bronze pumpkin, in London’s Kensington Gardens. Painted yellow with black polka dots in Kusama’s signature style, the sculpture, simply titled Pumpkin, is the tallest of her bronze gourd creations to date. Managed by Serpentine Galleries, the artwork stands near Round Pond, inviting daily encounters from park visitors.

?Kusama, now 95, often incorporates pumpkins into her work, drawing inspiration from her childhood. She describes pumpkins as “tender things to touch, so appealing in color and form,” and uses them as a stand-in for self-portraits, symbolizing comfort and the joy of living.

?Pumpkin marks a return to the UK for Kusama, whose first retrospective was held in Britain in 2000. Her long and varied career spans painting, sculpture, drawing, poetry, and her renowned "infinity mirror rooms." Despite her struggles with mental illness, Kusama continues to captivate audiences worldwide with her whimsical and profound art.

?Read more here