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HOLLI S TAG GART

SPRING 2019

Art Market Report FROM HOLLIS TAGGART

The year 2019 marks the 40th anniversary of our

A Look Back, A Look Forward

gallery. From humble beginnings in the summer of 1970, when we opened our first gallery on La Cienega Boulevard in Los Angeles, we have weathered many upheavals, recessions, booms, busts, and everything in between. Forty years provide ample opportunity to reflect, review, and project what lies ahead. It has always been our forte to intuit the art market, to assess where it is going, and to make adjustments along the way. A certain amount of flexibility and nerve have been required over these years. We have seen huge transformations in the way art is bought and sold, and we have witnessed massive price escalations, as well as some de-escalations. Suffice it to say, it has been fulfilling, nerve-racking at times, exhilarating, and sometimes depressing, but never boring!

Adolph Gottlieb (1903–1974)

Remaining Current

Untitled, circa 1965. Acrylic and

The secret to success in many galleries lies in the

ink on paper, 14 x 9 ⅞ inches. Inscribed, signed, and dated

ability to maintain a certain identity, or consistency, in

lower left: “For Eddy Novarro /

an art world defined by change. Over the years our

Adolph Gottlieb / 3/1/65.”

gallery has evolved from specializing in early American art (Hudson River) to American Impressionism, to American Modernism and eventually into Abstract Expressionism. Although we have moved forward chronologically with our focus, we have always main-

gallery visitation has fallen off, art fairs have emerged

tained a consistent philosophy of providing scholar-

as almost a necessity for galleries to expose their

ship, education, research, and a solid exhibition

inventory. Many smaller galleries, unable to afford the

program. We have always kept our finger on the pulse

high costs of these art fairs, have either closed or gone

of the market, and have tried to remain “current” with-

private. The way art is viewed, bought, and sold has

out abandoning our basic gallery mission: providing

completely changed since we first opened. The acceler-

museum-quality works supported by scholarship and

ated pace of life has transformed the traditional gallery

research. We have focused on ambitious exhibitions to

world. Many collectors do not have the time, or do not

provide a broader context in which to view and under-

take the time, to visit galleries and really examine the

stand the works and their place in art history. Today,

art being offered. It is far easier and efficient to attend

galleries are largely under siege, as we will here discuss.

art fairs, a sort of one-stop shopping, than to prowl the gallery themselves.

The Future of Traditional Art Galleries

As much as there is pressure on smaller and mid-

Much has been written lately on the struggles among

size galleries, we maintain that galleries always have,

the smaller and mid-size galleries. As the large, heav-

and always will, provide critical functions for collectors.

ily capitalized “mega” galleries continue to expand

Galleries ser ve as a place of engagement, human

into global behemoths (think Gagosian, Zwirner, Pace,

interaction, education, scholarships, and physical con-

Hauser & Wirth, etc.) many smaller galleries have gone

nection to the art. Galleries curate, educate, advise,

the opposite direction, some closing, and others

guide, and offer a vision to collectors.

down-sizing. The reason is that foot traf fic has

Our gallery recently moved to a ground level space

declined signif icantly in recent years, a s a new

with window frontage in Chelsea. It is vital in today’s

generation turns more and more to the internet to

art world to be more visible, accessible, and proactive.

view art as opposed to physical gallery hopping. Since

Continued back cover


SAM FR ANCIS (1923–1994) Instinct, 1987 Acrylic on canvas, 48 x 60 inches Titled, signed, and dated verso: “Instinct / Sam Francis ‘87”

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HERBERT FERBER (1906–1991) Rutgers #4, 1958–59 Oil on canvas, 33 x 47 inches Inscribed, signed, dated, and titled verso: “Prop: Edith / Ferber / Ferber / ‘58–’59 / Rutgers / #4”


LEON BERKOWITZ (1919–1987) Big Bend #2 (Double Violet), circa 1976 Oil on canvas, 100 ⅜ x 78 ¼ inches Hollis Taggart announces representation of the Estate of Leon Berkowitz

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SAM GILLIAM (b. 1933) Untitled, 1968 Watercolor on paper, 18 x 23 ½ inches Signed and dated lower right: “S. Gilliam 68” Untitled, circa 1969 Watercolor on paper, 18 x 23 ½ inches Signed lower right: “Sam Gilliam”


RICHARD POUSET TE-DART (1916–1992) Opaque Horizon, 1985–56 Acrylic on canvas, 22 x 28 inches Signed verso: “Richard Pousette-Dart”

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BET T Y PARSONS (1900–1982) Spaddle, 1977 Oil on wood, 29 ½ x 25 x 2 ½ inches Signed, titled, and dated verso: “Betty Parsons / SPADDLE ‘77”


L ARRY POONS (b. 1937) Untitled, 1978 Acrylic on canvas, 80 x 40 inches Inscribed verso: “78G-7”

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MICHAEL (CORINNE) WEST (1908–1991) After Easter, 1962 Oil, nails, and collage on canvas, 63 ½ x 49 ½ inches Signed and dated lower right: “Mich West / 62” Signed, dated, titled, and inscribed verso: “Michael West / 1962 / After Easter / 50–64” * Work can be hung horizontally or vertically Hollis Taggart announces representation of The Michael (Corinne) West Estate


FRED MITCHELL (1923–2013) Battery Park Hallucination, 1965–67 Oil on canvas, 50 x 65 inches Signed lower right: “FMitchell” Titled and dated on stretcher verso: “BATTERY PARK HALLUCINATION 65–67” Inscribed and signed on stretcher verso: “BATTERY PARK MORNING / OH MITCHELL”

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ED MOSES (1926–2018) Foghorn #8, 2017 Acrylic on canvas, 20 x 16 inches Signed, titled, and dated to verso: “E. Moses / Foghorn #8 2017” Whirl, 2017 Acrylic on canvas, 24 x 18 inches Initialed verso: “M”


MILTON RESNICK (1917–2004) Untitled, 1955 Oil on board, 14 x 15 inches Signed and dated lower right: “Resnick 55”

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RICHARD POUSET TE-DART (1916–1992) Untitled, circa 1945 Gouache and ink on paper, 9 x 6 inches Inscribed verso: “Aron / A / A aaron”


MARK TOBEY (1890–1976) Untitled, 1960 Tempera, gouache, ink, and graphite on ragboard, 4 ⅝ x 7 inches Signed and dated lower right: “Tobey / 60”

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MARK TOBEY (1890–1976) Untitled, n.d. Gouache on paper mounted to paperboard, 7 ⅛ x 13 ⅜ inches


FR ANZ KLINE (1910–1962) Composition, n.d. Oil on paper, 11 ⅜ x 8 ⅝ inches Signed lower left: “KLINE”

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CONR AD MARCA-RELLI (1913–2000) L-3-72, 1972 Canvas collage, 61 ½ x 67 ½ inches Signed lower right: “MARCA-RELLI” Signed, inscribed, and titled verso: “MARCA-RELLI / 61 ½” x 67 ½” / L-3-72”


PABLO ATCHUGARRY (b. 1954)

MARK FLOOD (b. 1957)

Untitled, 2018

Decorations on Her Body,

Statuary Carrara marble

2010

50 x 10 ⅞ x 7 ⅞ inches

Acrylic on canvas, 64 x 40 inches Signed, inscribed, and titled


LYNN CHADWICK (1914–2003) Maquette IV Two Reclining Figures, 1973 Bronze with black patina, 8 ½ x 11 x 16 inches Stamped with number, signature, and date at base: “675 2/8 / CHADWICK 73” Edition 2 of 8


TOM WESSELMANN (1931–2004) Little Nude, from Seven Objects in a Box, 1966 Vacuum-formed spray-painted Plexiglass, 7 ⅝ x 7 ⅝ x 1 ¼ inches Incised signature, date, and artist proof letter verso: “Wesselmann 66 / P” Artist’s Proof lettered P

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RICHARD PET TIBONE (b. 1938)

RICHARD PET TIBONE (b. 1938)

Andy Warhol, ‘Campbells Soup Can, / Chili Beef,’ 1962, 2014

Train Wreck and Love, Stella #6, 1970

Oil and silkscreen on canvas in artist’s frame, 5 ⅜ x 4 ¼ inches

Acrylic and silkscreen on canvas in artist’s frame, 11 ⅛ x 18 ¼ inches

Titled, signed, dated, and inscribed on canvas overlap verso: “’Andy Warhol,

Titled, inscribed, signed, and dated on stretcher verso: “Train Wreck

‘Campbells Soup Can, / Chili Beef,’ 1962.’ / Richard Pettibone 2014 / Set #33 #1038”

and Love Stella #6 / OK# 79 / R Pettibone 1970”


WEST

26TH STREET UPCOMING EXHIBITIONS Norman Bluhm: The 70s March 14–April 13, 2019

NORMAN BLUHM (1921–1999) Golden Flaxen Maiden, 1978 Oil on canvas, 89 x 76 inches Hollis Taggart announces representation of the Estate of Norman Bluhm

Knox Martin May 2–27, 2019 KNOX MARTIN (b. 1923) Untitled, circa 1975 Acrylic and graphite on paper, 9 x 8 ½ inches

Sven Lukin June 6–28, 2019 SVEN LUKIN (b. 1934) Untitled, 1962–63 Oil on canvas. 78 x 60 x 5 ¼ inches

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WEST

27TH STREET UPCOMING EXHIBITIONS PLACEHOLDER IMAGE

Kara, File is big enough at this size

Harry Bertschmann: The 1950s March 7–30, 2019 HARRY BERTSCHMANN (b. 1931) Untitled (Magnolia Series), 1956 Oil on canvas, 60 x 43 inches

Hollis Heichemer April 4–May 4, 2019 HOLLIS HEICHEMER (b. 1963) Continuum #6, 2018 Oil on canvas, 52 x 40 inches


Continued from page 1

and appreciation of this heretofore largely ignored

As times change, we endeavor to evolve with the

sector of the market as we move forward.

needs of the times. This vigilance and forward planning has served us well over the past forty years, and

2. Women Artists—Issues of gender equality, which

we intend to stay the course using the same tools.

gave birth to the “#metoo” movement, have also raised awareness of, and new appreciation of, women artists,

Trends in the Art Market

both past and present. Towering figures such as Joan

Quite often, the art of any generation reflects the

Mitchell, Lee Krasner, Helen Frankenthaler, Agnes

times in which we live, and the social changes that

Martin, and others, have enjoyed strong demand among

prevail. There are two key areas in today’s art market

collectors and museums for years. Record prices among

which have emerged as reflections of an evolving

these artists are established annually. However, many

social awareness.

lesser known, second-tier women artists, heretofore largely ignored, are now booming. Grace Hartigan,

IDELLE WEBER (b. 1932)

1. African American Art— Race in America is a topic of

Michael (Corrine) West, Elaine de Kooning, Judith

great concern currently. A by-product of increasing

Godwin, and many others are finding new collector and

sensitivity about race is a re-assessment of largely

museum interest, and rapid price escalation.

forgotten but deserving artists of color. Historical

We envision this trend to continue and accelerate in

figures such as Romare Bearden, Jacob Lawrence,

the foreseeable future, and we expect new names to

Charles White, Henry Ossawa Tanner, Jean-Michel

emerge in the contemporary field. We plan to bring

14 ¼ x 14 inches

Basquiat, and others, have always been in demand,

several unknown women artists to your attention in the

Signed and dated lower right:

but now have reached the highest levels ever. Lesser-

coming months. Be on the lookout for some great,

“© I WEBER – 94”

known but deserving artists are gaining enormous

fresh opportunities very soon!

Swan, 1994 Watercolor on Twinrocker handmade paper

Hollis Taggart announces

attention. For example, Sam Gilliam, a member of the

representation of Idelle Weber

Washington, D.C . Colorfield group (Morris Louis,

Summary

Ke nn e th N o l a n d , G e n e D av is ,

We remain optimistic about the future of the art busi-

others) was relegated to a minor

ness as long as one can remain flexible, attentive, and

status over many decades, but is

consistent in the gallery mission. Every business sector

now rocketing in price as he has

undergoes change and challenge. It can be exhilarating

become “re-discovered.” Likewise,

to adjust with new strategies to meet the challenges,

several contemporary artists are

or it can be stressful, or a little bit of both. So far, after

enjoying newfound popularity and

forty years, we see ample opportunity ahead, and quite

booming markets, Mark Bradford,

possibly, the best is yet to come.

T h e a s te r G ate s , G l e nn L ig o n ,

We have an exciting series of art fairs this spring,

Kerr y James Marshall, Kehinde

including the Armory Show in March, Dallas Art Fair in

Wiley, and others.

April, and Frieze in May; each with a focus and a theme.

We anticipate continued re-

We also have many exciting exhibitions scheduled

evaluation of African American

through 2019 and into 2020. We look forward to seeing

art, both historical and contem-

you all. Support the galleries, and take advantage of

porar y, and a new accept ance

what they can offer. Wishing everyone a terrific spring.

UPCOMING ART FAIRS The Armory Show March 7–10, 2019 Booth 206

Dallas Art Fair April 11–14, 2019 Booth F11

Frieze New York Spotlight | Knox Martin May 2–5, 2019 Booth S3

HOLLI S TAG GART 521 W 26th Street  1st Floor   507 W 27th Street   NY, NY 10001   212 628 4000   hollistaggart.com

Profile for Hollis Taggart

Art Market Report: Spring 2019  

The Spring 2019 edition of our newsletter, with an essay from owner Hollis Taggart and standouts from our current inventory.

Art Market Report: Spring 2019  

The Spring 2019 edition of our newsletter, with an essay from owner Hollis Taggart and standouts from our current inventory.