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ART MARKET

sheriff and I shot him. I killed photography. Maybe they hated that. Maybe I should have ‘rescued’ photography.” (artcritical.com, December 2005, David Cohen, Editor) Unfortunately for Prince, he inadvertently predicted his own downfall, photographically speaking. According to Artprice, US$100 invested in 1998 in a photographic work by Richard Prince had an average value of US$520 in October 2011. That figure was US$1561 in 2009. It seems that Prince underestimated the importance of curatorial recognition – something that both Sherman and Gursky have received plenty of. One of the only Chinese photographers to emerge from the art market downturn unscathed was Ai Weiwei. His 6.3-4, a series of 24 photographs which document the stages of construction of China’s Olympic Stadium, sold for £145,250 against an estimate of £70,000-90,000 during Phillips De Pury’s April 2011 London BRIC auction setting a new auction record for a photograph by the artist. When it comes to up and coming photographers, the British artistic duo Gilbert and George may be the ones to watch. The pair’s Bloody Life No. 13 fetched £1.27m ($1,999,003) against an estimate of £700,000-1,000,000 ($1,100,000 - $1,500,000) during Christie’s Post War and Contemporary Art Evening Auction held in London on the 14 February 2012. According to Christie’s, “over the course of their remarkable career, Gilbert & George have pioneered new directions in European conceptual art. Elevating photography to the status of art, they introduced new, enlarged scales of reproduction into the medium, creating ingenious compilations of multiple prints into a single work.”

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Fabrik - Issue 16  

Celebrating MOPLA (Month of Photography Los Angeles), Issue 16 of Fabrik concentrates on Photography with profiles of the inimitable Catheri...

Fabrik - Issue 16  

Celebrating MOPLA (Month of Photography Los Angeles), Issue 16 of Fabrik concentrates on Photography with profiles of the inimitable Catheri...

Profile for fabrik