As the health crisis recedes, FIAC keeps one foot in the virtual world while promoting the Parisian marketplace, the fourth most dynamic in the world in the latest Artprice report
Posted: October 20, 2021 at 10:26 a.m. CDT|Update: 52 minutes ago
PARIS, 20 October 2021 / PRNewswire / – This year, FIAC (that of Paris International Contemporary Art Fair) takes place at the Grand-Palais Ephémère, opposite the Champs-de-Mars park from the Eiffel Tower and until Sunday, October 24, welcomes 170 of the most prestigious galleries in the world. Corn Jennifer flay, artistic director of the fair, has not forgotten the crisis which forced the cancellation of the 2020 edition and called into question a large part of the functioning of our society (and of the art market). She therefore decided to maintain an online version.
According to thierry Ehrmann, CEO and founder of Artmarket.com and its Artprice department: “The FIAC online may not be the main event, but this version (which has 40 additional galleries) reflects a profound change in the art world, with the coexistence of two markets: the physical one with the FIAC (and its extramural shows / installations including a majestic sculpture by Alexandre calder place Vendôme), and the other, entirely online, which anyone can visit from their home on fiac.viewingrooms.com “.
The art market is not just about NFT …
Over the past six months, the art world has been excited about blockchain, a technology that has made a sensational entry into the auction world by March 2021 with the sale of Beeple’s NFT Everyday for $ 69.4 million at Christie’s new York. This was followed by Pak’s NFTs at Sotheby’s and Mad Dog Jones’s NFTs at Phillips, all of which garnered massive media comment and drastically changed the notion of what artistic creation is and how. it circulates at the beginning of the 21st century.
In its report on the Art Market for the first half of 2021 (https://www.artUSD/artprice-reports/the-contemporary-art-market-report-2021) Artprice nevertheless recalls that NFT’s public sales accounted for only 2% of global art auction turnover, a niche market, divided between new York (90%) and Hong Kong (9%) and represented less than 100 lots in total in the first six months of 2021.
The traditional paint market therefore remained 35 times larger than that of NFTs. Yet in just six months of existence, the latter is already twice as prosperous as the market for photographic works of art, which has seen 10,000 lots sold, but only generated $ 66 million (half of the NFT market over the same period).
Paris: careful but not back
Like every autumn, the French capital hosts an extraordinary range of exhibitions, covering almost the entire history of art: from Botticelli to the Jaquemart-André museum to Georg Baselitz and Georgia o’keeffe at the Center Pompidou, via the Morozov Collection at the Louis Vuitton Foundation and the newly opened Pinault Collection at the Bourse de Commerce.
At a time, Almine Rech and Perrotin Gallery present the work of one of the most talented representatives of current French artistic creation, Claire Tabouret. Two other galleries, Lévy Gorvy and Nathalie Obadia, present the work of the African-American artist Mickalene thomas.
Top 3 living French artists by auction turnover (H1 2021)
1 – Pierre Soulages (1919): $ 30,680,000
2 – Claire Tabouret (1981): $ 3,011,000
3 – Robert Combas (1957): $ 2,820 000
Paris is eclectic and forward-looking as evidenced by the award this year of the Marcel Duchamp Prize (which Artprice is very proud to support) for Lili Reynaud Dewar. At the same time, the 4th International Digital Arts Biennial is currently taking place at Centquatre-Paris.
Always behind London
The Parisian art market hopes to take advantage of Brexit and several leading galleries like Lévy Gorvy and David Zwirner opened outlets in Paris in anticipation of a certain isolation from the British market and Larry Gagosian inaugurates a third space in the French capital. But since the UK’s official exit from the EU, the balance between the two capitals has not changed much.
During Frieze Week, high quality works by Basquiat, Richter and Hockney were successfully auctioned in London reassure the local market. And the reappearance of Banksy’s Girl with balloon, renamed Love is in the trash (the one that partially self-destructed in 2018 after being sold for $ 1.4 million) generated a spectacular “event”, and a very spectacular result at $ 25.4 million.
In Paris, no lot offered by Christie’s or Sotheby’s should reach such heights during the FIAC, despite the sale of excellent Avant-Garde pieces by Magritte, Manet and Picabia, among others … While the galleries present the best contemporary creations at FIAC and in their respective points of sale, the auction houses continue to remind us that Paris was for a long time the artistic capital of the world …
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