Elizabeth Levesque, Author at The Fine Art Group

TFG INTERN PROGRAM

The Summer 2023 interns at The Fine Art Group were tasked with selecting their dream auction items from recent and upcoming sales, unrestricted by financial constraints. Their intriguing selections provide insight into their passions and enriching experiences at The Fine Art Group.

Jocelyn Hawkins, Art Advisory Fellow – New York, NY

Sotheby’s Institute of Art, 2024; VCUarts, 2019
MA, Art Business ; BA, Art History

ALEX KATZ (AMERICAN, B. 1927)

Eleuthera (1999)
Screenprint in colors on Rives paper
Signed in pencil and numbered ‘PP 1/5’ (a printer’s proof, aside from the edition of 75), co-published by the artist and Brand X Projects, Inc., New York, printed by Brand X Editions, Inc., New York, the full sheet.
48 x 26 3/4 in.

Bonhams
Prints & Multiples Summer Splash
4-14 August 2023
Lot 7
ACHIEVED: $25,600 inc. premium

An exceptional Katz print recently came to sale at Bonhams. Eleuthera depicts two very Katz-esque female figures in swim costumes with bold-colored caps. Behind them, the ocean is rendered in a simple plane of turquoise blue but still captures a glimmer of sunlight dancing on its surface. Some rays even catch the profile of his subjects’ faces, adorning them in the same flash that makes the water so beautiful. In his classic style, Katz depicts a magical moment. While this print appears very flat, he has captured the space’s and figures’ three-dimensionality.

Eleuthera refers to a small island in the Bahamas, only two miles wide. In this tightly framed composition, Katz transports viewers to that compact yet blissful environment. What makes this work even more special to me is its edition. This specific print is number “PP 1/5,” meaning it is the first of five Printer’s Proofs. In a previous sale, Christie’s noted that ten Artist’s Proofs were made, making the Printer’s Proofs even rarer. While I believe other collectors would focus on the paintings of Alex Katz more than his works on paper, I believe that purchasing a screen print of this uniqueness is a great way to build a Katz collection beyond one medium.

The last sale of an edition of Eleuthera achieved a hammer price of $11,000 at Christie’s, whereas the sale of the first Printer’s Proof reached $20,000 at Bonhams. These sales were less than a year apart with the Christie’s sale having been held in October of 2022 and the Bonhams sale having taken place just this past week in August of 2023. 2023 has been a mixed year for Katz screenprints, with some achieving beyond their estimate and some failing to even reach it. It is interesting to compare the different types of Katz prints that intrigue buyers.

Jiayi (Joyce) Liao, Arts Management Intern – Philadelphia, PA

Yale University, Class of 2025
Double Major in History of Art & Economics

HUANG YONGYU (CHINESE, 1924-2023)

Lotus (1996)
Scroll, mounted and framed, ink and color on paper
Inscribed and signed, with three seals of the artist
Dated August 18, 1996
28 1/2 x 55 3/8 in.

Christie’s, Hong Kong
Summer Reverie: Chinese Paintings Online
15-29 August 2023
Lot 69
ESTIMATE: HKD 300,000 – 400,000

The artwork I chose was painted by Huang Yongyu, a self-taught contemporary Chinese artist known for his woodblock prints, ink-wash paintings, and stamp designs. Born in 1924 in Fenghuang, China, Huang never attended a regular school but studied literature and art independently. He often depicted wildlife, foliage, or human figures and sought to express childlike innocence. His works are in the collections of major institutions such as the Metropolitan Museum of Art in New York and the Asian Art Museum in San Francisco. Huang scheduled a centennial exhibition in 2024 but passed away on June 13, 2023.

I chose this painting because of its iconic subject, rare occasion, and reliable provenance. The lotus is one of Huang’s favorite subjects. This work represents his signature style of combining the painterly qualities of Abstract Expressionism with the Chinese tradition of “xieyi (painting ideas).” The composition draws viewers into a vast expanse of a harmonic fusion of ink, color, and water.

Despite its popular subject, this work has a unique context. According to the inscription, the piece – titled “bai nian hao he (may the blessed union last for one hundred years),” a common marriage blessing in Chinese – was painted as a gift to celebrate the 50th marriage anniversary of Chengxing and Madam Mu Zhen. ThelLotus is a symbol of marriage since “he (lotus)” is a homophone for “he (union).” The two lotus flowers positioned side by side in this painting probably represent the couple. The present owner of this work acquired it from the original recipients, which confirms its authenticity.

This will be the third time Christie’s presented “Summer Reverie: Chinese Paintings Online.” Huang’s works performed well in the previous two auctions, as exemplified by Lotus (1998) in 2022, which sold for HKD 1,386,000 (USD $176,598), 454% above its mid-estimate. Further, the artist’s recent death could make this sale a favorable time for acquisitions, as research shows that the value of works tends to drop in the year of the artist’s death and increase again afterward.

Comparable works in past auctions suggest the high potential value of this painting. Among 2,182 works by Huang Yongyu sold at auctions since 1988, 49 have similar subject matter, size, and medium as the one currently offered, with a record price of HKD 2,200,000 (USD 283,800) realized by Colorful Lotus (2002) at Christie’s Hong Kong in 2015. In 2023, two comparable works sold at China Guardian Auctions in Beijing outperformed expectations: Lotus (2004), sold in March, realized RMB 460,000 (USD 66,810), 360% over its mid-estimate; Lotus in Morning (2000), sold on June 14, a day after the artist’s death, realized RMB 862,500 (USD 120,666), over 50 times of its conservative estimate.

Kaylin Jury, Marketing Intern – Lititz, PA

Washington and Lee University, Class of 2024
Art History and Spanish Major | Cultural Heritage and Museum Studies Minor

BELKIS AYÓN (Cuban, 1967-1999)

Sikán (1991)
Collograph
35 x 27 1/2 in.

Christie’s, New York
Latin American Art
28 September 2023
ESTIMATE: $40,000-$60,000

Belkis Ayón (Cuban, 1967-1999), a Cuban printmaker, is best known for her black-and-white depictions of Abakuá, an all-male, Afro-Cuban secret society. Ayón was enthralled with the group’s only female figure, Princess Sikán, who quickly became a central figure in the artist’s work. A 2019 Frieze article described these two women, artist and muse, as each other’s “alter ego[s].”

The deep textures, stark contrasts, and piercing, almond-shaped eyes seen in this depiction of Sikán are staples of Ayón’s style. The texture and depth Ayón achieves come from her use of collagraphy, a printmaking technique where ink is transferred using a collaged printing plate. One can see the joints between the individual prints in her 1991 Sikán, demonstrating the uniqueness of the artist’s technique. Combined with the work’s crowned design, these details make the piece a nontraditional and exceptional work from the Latin American sale.

As an influential female Cuban artist, Ayón has only recently begun to receive the attention I feel she deserves. Although high-achieving before she died in 1999, Ayon took flight in 2016 with the Fowler Museum’s exhibition of her first solo show. Since then, Sikán has been displayed in the Reina Sofia and El Museo del Barrio, demonstrating that it is a true museum-quality piece. Many other examples of Ayón’s work are in the permanent collections of the Museum of Contemporary Art, Los Angeles and, the Wilfredo Lam Center of Contemporary Art. I am excited to see this unique piece of Ayón’s work brought to public attention.

Similar pieces that sold above their high estimates in March 2023, like Untitled (Silkan with Goat) and ¿Arrepentida? (Repentant?), were placed in auctions focused on contemporary art. With Sikán coming to auction in a Latin American sale targeting collectors interested in Cuban art, I am interested to watch its performance.

Ran Peng, Art Marketing Intern – Pittsburgh, PA

Heinz College, Carnegie Mellon University, Class of 2024
Master of Arts Management

ROY LICHTENSTEIN (AMERICAN, 1923-1997)

Mirror #6 (1972)
Lithograph and screenprint in colors on Special Arjomari paper
40 3/8 by 29 3/4 in.

Sotheby’s, London
Contemporary Discoveries
17 August 2023
Lot 26
ESTIMATE: GBP 8,000 – 12,000
ACHIEVED: GBP 12,700

As someone deeply interested in conceptual and Post-War and Contemporary art, I picked the lithograph and screenprint Mirror #6 by Roy Lichtenstein, in which he explored abstraction and discussed the concept of the “mirror” with his symbolic style. I really like the vibrant blocks of color and the conceptual discussion between the mirror’s formality and functionality.

Mirror #6 presents an oval shape in shades of dark red, black, and yellow with jagged lines and dots, creating a gradual transition from dense to light areas. The colors and dot clusters reveal the glass mirror’s edges while presenting its reflective nature. The oval mirror is placed at the center of the print and presented frontally without any reflected object. In this way, Lichtenstein separates the form and concept of the mirror from its functionality. With blocks of vibrant colors and dense dot clusters, Lichtenstein represents the reflection of light on the uneven surface of the mirror. This style helps viewers explore the conceptual difference between the mirror’s reflection and the mirror itself.

Throughout art history, mirrors have been used to convey the hidden complexities and dualities of the surface-level or outward presentation of self. In classic mythology, for example, mirrors served as a form of moralistic commentary on vanity. Lichtenstein’s work, however, challenges these traditional metaphors by shifting the focus from the reflected objects to the mirror itself. In this way, the artist poses a conceptual question to the viewer regarding the aesthetic comparison of an iconized object and its formal/physical features.

Lichtenstein revised his investigation of abstract aesthetics in his later career. Nevertheless, I believe the Mirror series is a solid showcase of his conceptual exploration, which he later continued in his Reflection and Interior series.

Various examples of similar Lichtenstein works have come to market in the last two years. For example, I found that a different edition of the same print, Mirror #6, and a print in the same series, Mirror #7, sold in the $10,000-$15,000 range. Since both previous pieces came to market in New York, I will be interested to see if London collectors take a similar interest in Lichtenstein’s Mirrors.

INTERNSHIP POSITIONS

TFG internships last from 3-4 months and are offered as full-time positions.

Appraisal Management Intern

In-person only position – Philadelphia Metro Area

The Appraisal Management Intern will support the Appraisal and Advisory Departments by working with our team of experienced art appraisers. We seek a detail-oriented intern with a keen interest in and knowledge of art and antiques. The selected candidate should also have an outstanding work ethic, efficient time management, and be a team player.

Intern responsibilities include:

Researching and cataloging antiques.
Assisting with on-site client visits and appraisals.
Formatting/editing documents and images for internal system tracking.

The intern will also collaborate with other departments to provide administrative and operational support.

Advisory Intern

Hybrid position allowed – New York City

The Advisory Intern will support the Advisory Department by working with our team of experienced art advisors. We seek a detail-oriented intern with a keen interest in and solid background in art history and antiques. The selected candidate should have an outstanding work ethic and time management skills.

This position is responsible for researching and cataloging antiques, updating client information in the CRM system, and maintaining 1stDibs accounts. The selected candidate is also responsible for creating client presentations, editing photos and documents, photographing items and artworks, and placing global exhibition consignments. They will also collaborate with other departments, including marketing and general operations, to provide administrative and operational support.

Art Marketing & Business Development Intern

Hybrid position allowed – East Coast

The Art Marketing Intern will support the Marketing Department and work closely with the Business Management and Operation departments. We seek a detail-oriented intern with an interdisciplinary background in art and marketing/management with a keen interest in art and antiques. The ideal candidate should have experience in design and marketing platforms such as Adobe Creative Suite, Mailchimp, or similar newsletter software, and WordPress. They should also have an outstanding work ethic, efficient time management, and be collaborative.

The Art Marketing Intern will analyze marketing data and produce reports, research digital and social media marketing keywords, and maintain websites and mailing lists. The Marketing Intern is also responsible for social media graphics, creative designs in Adobe Creative Suite, and some minor video editing. They will collaborate with the Advisory and Appraisal teams and general operations to provide administrative and operational support.

Read more about the open internships on our careers page. Please email your resume and cover letter to jobs@fineartgroup.com. Currently, we are not accepting phone calls about available positions.

Managing a growing collection can prove to be a daunting task for even the most seasoned collector. “How do I keep track of my purchases? How do I coordinate a museum loan or exhibition? When should I get an appraisal? How do I find a conservator that fits my needs?” As a Collections and Inventory Associate, I find the answers to these questions and much more. Working with The Fine Art Group’s global team of specialists, we create a bespoke plan for each collection and manage every object with the utmost care.

SERIOUS COLLECTORS NEED PROFESSIONAL COLLECTION & INVENTORY MANAGEMENT

WAYS THE FINE ART GROUP CAN SUPPORT IMPORTANT COLLECTIONS

Inventory Management
Organizing and maintaining a comprehensive inventory of the client’s collection, including detailed records of each object, its provenance, condition reports, and relevant documentation. Our team will enter all documents into a collections database accessible to the client, their representatives, and The Fine Art Group.
Appraisals & Valuations
Coordinating regular appraisals and valuations to provide clients with up-to-date information on the value of their collections.
Logistical Oversight
Managing the logistics involved in handling and transporting artwork, including coordination of packing, shipping, and installation, ensuring proper care and adherence to international best practices.
Disaster Planning
Implementing measures to protect the collection from potential risks such as natural disasters, fire, theft, or damage and developing emergency response plans, and coordinating with relevant experts for conservation and restoration in case of an incident.
Museum Loan Advice
Providing guidance and assistance in navigating the process of lending artworks to museums and institutions, managing the logistics, insurance requirements, and legal considerations involved in loan agreements.
Security Consulting
Advising on what protections a collection requires when on display, in storage, or during transportation and assisting in acquiring needed services.
Philanthropic Strategy
Assisting clients in leveraging their collection for philanthropic purposes, offering guidance on charitable donations, art-related events, and collaborations with cultural institutions or nonprofit organizations.
Exhibition Strategy
Working with our specialists to develop strategies and recommendations for exhibiting collections, including curatorial advice, display techniques, and exhibition planning to maximize the collection’s visibility and impact.
Introductions to Vetted Industry Experts
Liaising clients with experts related to subjects such as tax planning, conservation, restoration, academic researchers, and scholars.
Art Finance
Supporting through TFG’s Art Finance department for temporary finance for further collection development.

OUR SERVICES

The Collections Management division at The Fine Art Group, represented by Luke Jacobs as the Collections & Inventory Services Associate for the Americas, aims to provide comprehensive and customized solutions to support clients in managing their collections effectively.

17 August 2023

HOW TO MAXIMIZE VALUE WHEN SELLING COLLECTIONS

Watch on YouTube

Selling your collection of art, jewelry, and other valuable assets can be a significant financial transaction. Therefore, it is crucial to understand the different options available to maximize your financial result.

It can also be an emotionally fraught process where the seller would benefit from the outside perspective of an art advisor looking out for the client’s best interest. There are various factors, from finding the right sales venue to getting the best price for your pieces, to consider. With knowledge, careful planning, and expert advice, you can ensure that you get the best possible financial result from selling your prized collection.

Join us to watch Kerry-Lee Jeffery, Colleen Boyle, Anita Heriot, and Kate Waterhouse discuss ways to maximize return of investment when selling collections of art, jewelry, wine, and other valuable collectibles.

DATE

August 17th, 2023 – 1PM EST/ 10AM PST

LENGTH

30 to 45 minutes

FORMAT

Zoom webinar

OUR SALES AGENCY SERVICES

The Fine Art Group’s dedicated Agency team can add significant value through seamless sales management, financial reporting and marketing optimization.

We take care of every detail of the sale process, from initial valuation all the way through to post-sale reporting and analysis, ensuring that the client communication and involvement is tailored throughout.

See our Sales Agency Case Studies to learn more about our services.

MAJOR WEATHER EVENTS AND YOUR VALUABLES

El Niño 2023 is here, according to the US National Weather Service. While this natural weather phenomenon could make the Atlantic hurricane season below average, that doesn’t mean you have nothing to worry about. The United States is experiencing record heat waves, flooding, and forest fires. El Niño could cause further significant weather events in the winter, bringing heavy precipitation to Southern California and the US Gulf states (Texas, Louisiana, Mississippi, Alabama, and Florida). That translates to storms, flooding, and in California, mudslides.

Some insurance companies pulling out of states like California and Florida have complicated the position some collectors find themselves in.

YOU HAVE TIME TO PREPARE IF YOU ACT NOW

A photograph of a green landscape featuring both a tornado and lightening in the sky above.

Major weather events like hurricanes, floods, and wildfires can pose significant risks to your art and valuable possessions. Ensuring they are adequately insured and properly documented is crucial in safeguarding your investments.

We highly recommend calling your insurance broker to verify insurance coverage for all tangible assets. Determine exactly what insurance you have, especially flood insurance. Most property damage caused by weather events results from strong winds, heavy rainfall, and storm surges.

HOW TO REDUCE RISK & LOSS FROM MAJOR WEATHER EVENTS

STEPS TO TAKE BEFORE NATURAL DISASTERS

UNDERSTAND THAT IT CAN HAPPEN TO YOU
With the escalated risk of natural disasters in recent years, managing risk to a collection has become a top concern for many collectors in high-risk areas. In addition to threats such as wildfires, hurricanes, and tornadoes, collectors must also prepare for unexpected events like a pipe burst or an electrical fire. In these unfortunate circumstances, unbeknownst to most, the owner is responsible for establishing their belongings’ value and comprehensive inventory. Therefore, proper inventory management and up-to-date appraisals are the crucial first step to prepare for the unexpected.
VERIFY YOUR INSURANCE COVERAGE
Discuss insurance coverage with your broker. Review your policy for costly gaps in coverage.

If moving any fine art, verify that your collection is insured during transit. Some insurance companies have a waiting period before activating policy changes, so plan ahead.

Consider obtaining specialized coverage, such as fine art insurance or additional riders, to ensure comprehensive protection. Evaluate factors like coverage limits, deductibles, exclusions, and policy terms to guarantee sufficient financial reimbursement in case of damage or loss.
DOCUMENT YOUR ART, JEWELRY & OTHER VALUABLES
What do you have? Where is it? What did you pay for it? Do you have a recent Insurance Appraisal?

Update your inventory with photographs and copies of your receipts. Outdated appraisals and incomplete inventories can leave a collector scrambling to piece together information and significantly underinsured. With the burden of proof ultimately falling into the owner’s lap, it is clear why all successful asset evacuation plans must begin with inventory management and understanding your collectibles’ retail replacement (insurance) value. The Fine Art Group appraisal and collection management team will work with you to conduct a complete inventory audit and ensure that the insurance values are current.
HAVE A PLAN TO RELOCATE YOUR TANGIBLE ASSETS
Establish a plan to relocate valuables. Select a reputable fine art shipper to move valuables to a predetermined secondary location out of the path of the storm, preferably a vetted art storage facility. The Fine Art Group can assist clients in preparing evacuation plans ahead of extreme weather events.

For clients in states where insurance companies are pulling out, evacuation plans are even more crucial to safeguarding their assets.
THE AFTERMATH: DAMAGE & LOSS
In the event of damage or total loss to personal property, a Damage & Loss appraisal can be conducted. The Fine Art Group’s Damage & Loss Appraisals include:

– Retail replacement value (RRV) before and after damage
– Condition Analysis
– Conservator recommendations and cost quotes
– Diminution in value due to the damage and subsequent restoration
– In the case of a total loss, our in-house advisors will assist in replacing the object

FURTHER INFORMATION

OUR SERVICES

Understanding value is the cornerstone to effectively managing a collection – and at The Fine Art Group, this understanding enables us to work as trusted fiduciaries for our clients and their objects. We are experienced in providing appraisals for various purposes and are specialists in unique and complicated appraisal scenarios.

8 Ways The Fine Art Group Can Assist Clients Selling Luxury Wearables

THE JEWELRY AGENCY PROCESS

What do you have and where is it?
All families have jewelry and watches, whether we realize it or not. Typically, a family has jewelry in the family vault, and the age-old adage applies: ‘Out of sight, out of mind.’ My own family is guilty of this.

Your grandmother’s natural saltwater pearl necklace likely resides in the vault with grandfather’s Patek Philippe pocket watch and perhaps a colored gemstone of important origin or even a few gold coins. Ask questions about the family legacy and better understand the collective priorities.
Are you sure you want to sell?
The first question should be whether the piece(es) will continue to be worn. If the family members feel they will be wearing and enjoying the articles, please let us know, and The Fine Art Group will be happy to discuss the process of a retail replacement valuation (otherwise known as an insurance valuation).

However, if family members are not interested in keeping and wearing the pieces, we highly recommend discussing the works with our teams and obtaining a better market overview. We can discuss which ends of the market have the most traction with buyers on the secondary market (for example, auction market or private sale through The Fine Art Group).
How do you know what auction house is appropriate for your assets?
I genuinely enjoy counseling our clients through the sale process. We begin by finding the right auction house. Not all auction houses are created equal, and, most importantly, the big two (Sotheby’s and Christie’s) might not always be the most appropriate fit for the piece or collection.

Our team will explore the options with you, finding the most robust buyer pool available, and determining which firm has proven to hold a market share for these exact pieces. We want your pieces to shine and be as unique to those bidding as they are to you!
Your sales venue is picked, but what other details need to be explored?
Negotiating sale terms for these highly emotional assets that our families possess can be a delicate dance.

I like to explore not simply sale commissions but which end of a sale season might be best for the jewelry or watches (holiday season vs. early fall or late spring can make a difference).

For example, does the Van Cleef and Arpels Alhambra necklace come with the original boxes and are in good condition? If the answer is yes, let us consider taking it to an auction before the holiday season, when bidders may be more keen on bidding an extra increment (or two or three) on this piece to have it available for the gifting season.
How does the sales venue intend to advertise your assets?
We have found that this needs to be addressed when reviewing results of clients who decided to go through the sale process alone. If the consignor agrees it is essential, we can make requests before the sale. Even placement within the order of an auction can make a difference in the price realized on the day of sale.

I like to use the example of the full jewelry ‘suite.’ Assume that your mother purchased her jewelry in full parures (suites or sets) from Cartier in the early 1990s. Today’s collectors do not typically buy a complete matching set of ear clips, bracelets, or necklaces with brooches or rings, even though they once did so. Most bidders want one, two, or three pieces out of a parure (traditionally, there are as many as five) but likely do not need all of them. Personally, I adore earrings and bracelets but would probably not wear the necklace or brooch. Ideally, if the suite is broken up, it often requires the bidders keen to keep the suite together to spend a little more to keep the parure together. At the same time, this requires the bidders who only want a single piece (or two or three) to bid higher on the exact items they will cherish and appreciate daily.
The Fine Art Group’s Pre-Sale Concierge Services
It can be hugely disappointing, but not unusual, to hear from a client after the sale, “I would have sold it for that…” after the piece goes unsold.

The Fine Art Group team checks in and offers updates leading up to and during the sale exhibition and on auction eve. Consignors should always have a market check before the auction to determine what ‘pre-auction’ interest might look like.

I have often had clients who would have benefitted from understanding who has seen their pieces and how the reception may have been. If there is concern that the jewelry or watch may fail to find a happy home, the client should know and be offered the opportunity to amend the reserve price appropriately if needed.

Conversely, if you are happy to have a piece come home, we also want to negotiate that.
What are extended payment terms?
Many auction houses have a special list of highly vetted clients who have been offered the opportunity to pay on ‘extended payment terms’ (EPTs). This means the payment may occur in increments rather than a single lump sum approximately 40 days from the date of sale.

I want to say again: this exceptional group of bidders may review the sale and request payment terms ahead of the day of the auction that falls outside the typical period of ‘full payment.’

This request is typically an excellent sign for the consignor. It means that the potential bidder(s) know that they may need to ‘reach’ financially on the day of sale and has the means to do so if offered the flexibility to pay in three partial payments.

More often than not, I counsel the consignor to take these terms since I know the vetting process well, and it is highly stringent. Most importantly, successful bidders with these terms are only allowed access to the pieces once they pay in full. It remains in the care of the auction firm until payment has been settled.
Delivering the happy news.
I love sale days, either at auction or in private sale. It is always a victory, even in the most modest of consignments.

It is an honor to be included in this experience. Our team members understand the delicate emotions surrounding selling family heirlooms and prized possessions for collectors and family members. Shepherding your most cherished assets through the sale process is crucial to you as the seller, and I promise I am there with you every step.

OUR SALES AGENCY SERVICES

The Fine Art Group’s dedicated Agency team can add significant value through seamless sales management, financial reporting and marketing optimization.

P atti Wong, Founder of Patti Wong & Associates, and her successful acquisition of Gustav Klimt’s Dame mit Fächer (Lady With a Fan) on behalf of an anonymous Hong Kong client for a record-breaking $108.4 million was the main topic of Artnet News’ article, “Who Bought the Mysterious Klimt at Sotheby’s? An Equally Enigmatic Hong Kong Power Broker, Some Believe.”

Philip Hoffman, Founder and CEO of The Fine Art Group, spoke with Katya Kazakina of The Art Detective about clients’ interests in the most recent May auctions for the article.

Click here to read the full article on Artnet News.

Full article

Newsfeed image credit: Gustav Klimt, Dame mit Fächer (Lady with a Fan) (1917-18).

Anita Heriot, The Fine Art Group’s President of the Americas, speaks with Bowdoin Magazine, a publication for Bowdoin alumni, about her experience in the ever-changing art world and her role at The Fine Art Group.

Click here to read the full article in Bowdoin Magazine.

Newsfeed image credit: Cover of Bowdoin Magazine’s Spring/Summer 2023 issue.

Written by Zhanna Ter-Zakaryan, Associate, Art Advisory; Luke Jacobs, Collections & Inventory Services Associate; Charles Curtis, Wine Specialist & Advisor; Greg Adams, Digital Assets Consultant

THE SCOOP: #14 – June 29th, 2023

Our experts delve into the allure of the collectible whiskey market and its appeal to the next generation of collectors. We then focus on highlighting rising LGBTQIA+ artists and exploring their contributions to the art world. Finally, we provide an update on the exciting NBA NFT collectibles market, where traditional sports card collectors are venturing into the digital asset marketplace.

Whether working with a first-time buyer or an experienced collector, we support our clients across all aspects of the acquisition process. If you are seeking assistance with your collections, please contact our Advisory team.

COLLECTIBLE WHISK(E)Y

BY CHARLES CURTIS

Distilled spirits are among the hottest categories of collectibles, and whisky (or whiskey) leads the pack. To clear up the matter of spelling, it is generally the case that Scottish producers will spell their spirit ‘whisky,’ and American and Irish distillers will usually spell it ‘whiskey.’ However, this is not universally the case. With the proliferation of high-end labels, collectors interested in exposure to this market are spoiled for choice. However, a bit of background is in order since not all whiskey is created equal.

Photograph of a very rare Midleton Whiskey 30th Anniversary Pearl Edition bottle and case. The hinged, wooden case is open behind the standing bottle full of dark brown whiskey. — _{Midleton Very Rare 30th Anniversary Pearl Edition from Sotheby’s New York ‘The Legacy Collection”}

WHAT MAKES A WHISKEY WORTH COLLECTING?

Whisky is commonly purchased for consumption. To be considered collectible, a whiskey must have a viable secondary market. This presents a difficulty for U.S.-based collectors since alcohol is tightly regulated in the United States, distilled spirits even more so than wine. Despite this inconvenience, the collectible market continues to boom. On May 11th, Sotheby’s New York presented ‘The Legacy Collection’, a single-owner sale of 142 lots that is expected to garner between $1.4 and $1.9 million. The results suggest that collectors will pay up for the bottles they need, while there will be room for new collectors to get in at a reasonable price point. While the 53-year-old Macallan distilled in 1948 and a 40-year-old distilled in 1939 made $40,000 per bottle with premium or more, other similar whiskies did not sell. Sotheby’s regularly auctions spirits, as does independent wine and spirits specialist Acker, whose recent ‘Distilled’ sale was on May 31st. Most U.S.-based collectors still try to assemble a collection by buying bottles on release. To succeed at this strategy, knowing which bottles are most sought-after is necessary.

The largest share of the collectible market goes to Scotch whisky. Although there are today 143 distilleries operating in Scotland, not all of these produce collectible spirits. The Scotch whisky with the most brand visibility is certainly Macallan. The world record for the most expensive bottle ever sold is for the 1926 Macallan, sold at auction by Sotheby’s London in October of 2019 for £1.5 million. Other collectible Scotch whisky brands include Port Ellen, Brora, Ardbeg, Bowmore, and Springbank. Quality is a factor, but in the world of whisky, scarcity drives prices even greater than in other categories. The 1926 Macallan was one of 40 bottles produced, while Port Ellen and Brora are examples of distilleries that have closed, known as ‘silent stills.’

_{THE MACALLAN FINE & RARE 60 YEAR OLD 42.6 ABV 1926
October 24, 12:00 PM EDT
ESTIMATE: 350,000 – 450,000 GBP
LOT SOLD: 1,452,000 GBP}
_{Courtesy of Sotheby’s.}

According to the Scotch Whisky Association, exports totaled £6.2bn in 2022 and reached 180 countries worldwide. However, the combined impact of Brexit and global economic and political instability have disrupted the secondary market for rare whisky, occasioning a correction of nearly 20% across all types in the past twelve months, according to Whiskystats.com. This website was established by Johannes Moosbrugger in the Netherlands, whose index demonstrated an increase of +191.27% since inception (January 2013) after considering the recent market correction.

The Scots sell more whisky than the American and Japanese distillers combined, but these categories are also very collectible. Worldwide, Japanese whisky is also a dominant force. Brands like Karuizawa, Yamakazi, and Hanyu are the stuff of dreams for initiates of collectible whisky. The most expensive bottle of Japanese whisky is the Yamakazi 55-year-old, which sold for HK$ 6.2 million ($795,000) in August 2020.

_{Yamazaki 55 Years Old (46% ABV)
SOLD FOR: HK$6.2 million (US$795,000).
Courtesy of Thespiritbusiness.com.}

AMERICAN WHISKEY & YOUNG COLLECTORS

American whiskey also has its admirers. Perhaps the most sought-after brand is Pappy Van Winkle. Sotheby’s New York sold a bottle in December 2022 for $52,000, an astonishing 17 times more than its presale estimate. In March of 2022, the house conducted a sale exclusively dedicated to American whiskey, which sold for a combined $1.6 million. Sotheby’s noted that the category appeals to a youthful demographic, with more than 40% of the buyers under 40 years of age. Other brands of collectible American whiskey include Colonel E.H. Taylor, Michters, Eagle Rare, A.H. Hirsch, and Willett Family. Of particular note is the annually-released Buffalo Trace Antique Collection, which includes George T. Stagg, Sazerac 18 Rye, William Larue Weller, Eagle Rare 17, and Thomas H. Handy.

The database Whiskystats.com was established by Johannes Moosbrugger in the Netherlands. This index demonstrated an increase of +191.27% since inception (January 2013) after taking into account the market correction of -18.03% in the past twelve months.

CELEBRATING PRIDE: 5 YOUNG CONTEMPORARY LGBTQIA+ ARTISTS

BY ZHANNA TER-ZAKARYAN AND LUKE JACOBS

As our world and culture continue to evolve, artists in the LGBTQIA+ community are finding more acceptance than ever within the art world when it comes to expressing their identities and cultures. In celebration of Pride Month, below we spotlight five young LGBTQIA+ artists pushing the contemporary art world forward. By exploring their practices, this edition of The Scoop aims to highlight these artists’ professional achievements and their art historical contributions, both in the LGBTQIA+ community and the art world as a whole.

DORON LANGBERG

Radiant in color and quite often monumental in scale, Doron Langberg’s (b. 1985) paintings explore serenity, intimacy, and closeness. The portraits of his friends and lovers, their bodies often intertwined amongst themselves and with the surrounding landscapes, are conceived directly from life and are often painted en plein air. For the artist, the sense of a ‘living person’ and a lived experience in his paintings is essential. In a way, Langberg consistently blurs the line between abstraction and figuration, as his portraits are dissolved within their surroundings, evoking a sense of closeness and queer sensuality. As the artist puts it, “Queerness for me is not just a sexual experience, but a way of being in the world which affects every aspect of my life. Using intense colors and different paint textures and marks to create these everyday scenes, I want to connect with a viewer by speaking to our most basic commonalities – our bodies, our relationships, our interiority – rather than the social categories that may separate us.“

Colorful textural painting by Doron Langberg of two men in bathing suits done in a palette of red, white, green, and blue. As one man stands to the right of the image and looks out into nature, the sitting man on the left leans back and looks down at the ground. — _{Doron Langberg, Drawing Mike, 2020}
_{Courtesy of the artist.}

Doron Langberg currently works and lives in Brooklyn and was born in Yokneam Moshava, Israel, in 1985. The artist received his MFA from the Yale University School of Art and his BFA from the University of Pennsylvania. His works are currently on view at Rubell Museum in Miami (through November 2023), and previous group exhibitions included the Institute of Contemporary Art in Boston, the Institute of Contemporary Art, Miami, and RISD Museum, Rhode Island, among others. Langberg held his first solo exhibition at Victoria Miro in London in 2021 and is represented by the gallery.

SALMAN TOOR

Langberg’s contemporary and friend Salman Toor (b. 1983) focuses on the representation of day-to-day moments of queer men within cosmopolitan and domestic settings. The artist’s subjects, often engaged in routine activities, are fictional in nature but are meant to be versions of himself, his friends, and loved ones. As Toor places them in these mundane environments, he deals with the complex, multi-layered idea of what it means to be queer in society while also playing on how relatable these depictions might seem to the viewer. The rich brushstrokes pay homage to the Dutch masters, and the vibrant color palettes evoke a sense of ambiguity, vulnerability, and even anxiety, as the environments depicted by Toor may or may not be welcoming.

Green painting by Salmaan Toor showing a group of seven sad people standing straight, with their hands at their sides, looking down at the ground. The painting is melancholy and even the figures are green in tone with the only other colors being orange, pink, and blue. There is visible brushstroke texture. — _{Salman Toor, Green Group, 2020
Courtesy of the artist and Luhring Augustine.}

Green painting by Salmaan Toor of a bar scene where green-toned men talk and drink. On the left side, a blond man lays asleep on the bar as a man in the center background stands alone on his phone. — _{Salman Toor, Bar Boy, 2019
Courtesy of the artist and Luhring Augustine.}

Born in Lahore, Pakistan, in 1983, Toor lives and works in Brooklyn. He studied painting and drawing at Ohio Wesleyan University and received his MFA from Pratt Institute in New York. Toor’s solo exhibition, originally on view at the Baltimore Museum of Art in 2022, is currently at the Tampa Museum of Art in Florida (through June 2023). Other solo exhibitions include the Whitney Museum of American Art, New York (2020-1), and at Luhring Augustine Gallery, New York (2021), which also represents the artist. Toor’s works have appeared in various public collections, including the Frick Madison, New York, and the Hayward Gallery, London.

RF. ALVAREZ

The notion of home is ever-changing, and for RF. Alvarez (b. 1988), this includes the physical environments, people, memories, and experiences through which this concept of belonging is perceived. Alvarez’s paintings depict safe and intimate spaces the artist has created with his husband and loved ones — environments that allow one’s identity and sexuality to be celebrated and fluid. Often placed in nocturnal and enigmatic settings, the figures are captured in fleeting moments, be it an intimate embrace at a large dinner party or a glimpse of the artist’s husband waking in the morning. The concept of home and belonging not being tied to a physical place goes beyond these shared moments as the artist explores his experience as a queer man of Mexican and Texan heritage. As Alvarez puts it, “A lot of my work is about the fallacy of the cowboy figure and its paper-thin vulnerability.”

Dark painting by RF Alvarez almost entirely black save for a candle-lit table where eleven people sit after a meal. The atmosphere is relaxed inside the small, windowed room. — _{RF. Alvarez, Dinner with the Phaeacians, 2023}
_{Courtesy of the artist and Alanna Miller Gallery.}

RF. Alvarez was born in San Antonio, Texas, and currently lives and works in Austin, Texas. He received his BA from Wesleyan University in Connecticut and has held exhibitions at Alanna Miller Gallery, New York, Taymour Grahne Projects, London, and Ruiz Healy Gallery, San Antonio. Alvarez is represented by Alanna Miller Gallery in New York.

MICHAELA YEARWOOD-DAN

The work of Michaela Yearwood-Dan (b. 1994) aims to build spaces for the queer community, creating a sense of bliss and abundance. Community building and access are crucial components in her work: last year, she made a public mural installation for Queercircle, London, an LGBTQIA+-led charity, working at the intersection of arts, culture, and social action. Her lush paintings, works on paper, and ceramics build on her own personal narrative and reflect on the multitude of her influences, including Blackness, queerness, femininity, poetry, and Carnival culture in the context of her West-Indian heritage. Yearwood-Dan’s monumental paintings with abstract forms, heavy brushstrokes, and lyrical texts that blend with the thick paint go beyond clichés of representation, often giving an inviting feeling of home. The artist’s rich color palette has both personal and symbolic associations, as the bright hues echo the lesbian and bisexual pride flags, while her lyrical inscriptions on the thick brushes of paint create a sense of meditation, familiarity, and closeness with the viewer.

Colorful abstracted painting by Michaela Yearwood-Dan of pink and yellow flowers reflected in a blue watery surface. The center of the piece is light while the edges fade to black. Written in red paint is, "I still break." — _{Michaela Yearwood-Dan, Beyond the veil of the mythical super woman, 2021}
_{Courtesy the artist and Marianne Boesky Gallery, New York.}

Yearwood-Dan attended the University of Brighton, where she received a BFA in painting in 2016. She recently closed a show at the Green Family Art Foundation in Dallas called Considering Female Abstractions, now on view at the Contemporary Arts Center in Cincinnati (through August 6th, 2023). Her work is in the permanent collections of the Hirshhorn Museum and Sculpture Garden, Washington, D.C., Institute of Contemporary Art Miami, and the Jorge M. Perez Collection, Miami, among others. She recently held a solo exhibition at Marianne Boesky Gallery in New York and is represented by the gallery.

KYLE DUNN

In his sensuous, intimate, and psychologically dense paintings, Kyle Dunn (b. 1990) reflects on queerness from an inward perspective as well as on its outward projection. Drawing inspiration from his own life and sources such as vintage gay photography, Greek antiquity, and film stills, the artist explores the dynamics of gay relationships not often represented in visual culture, along with gender roles and social expectations. Dunn’s figures include sculpted elements: made with plaster and foam, these relief paintings carry autobiographical and, at the same time, fictional accounts as they respond to social and even private expectations of masculinity. These sculptural elements, as well as Dunn’s intentional placement of his subjects often facing away from the viewer, create a sense of ambiguity: these intimate environments may evoke both peace and claustrophobia.

Painting by Kyle Dunn of a nude man's reflection bending into a floor mirror inside a room with a balcony draped with button-up shirts. The man is on his knees on the balcony looking at the viewer in the mirror's reflections. — _{Kyle Dunn, Coat, 2022}
_{Courtesy of the artist and P·P·O·W, New York.}

The sculptural elements of Dunn’s paintings reflect the artist’s study of Interdisciplinary Sculpture during his 2012 BFA at the Maryland Institute College of Art, Baltimore. He recently had a solo exhibition at P·P·O·W, New York, and is represented by the gallery. His work is in the collections of the Institute of Contemporary Art, Miami, the Sunpride Foundation, Hong Kong, and X Museum, Beijing.

NFT MARKET UPDATE

BY GREG ADAMS

NBA COLLECTIBLES MEETS NFTS

The world of NBA collectibles has expanded into the digital realm with the emergence of Non-Fungible Tokens (NFTs). These unique digital assets have revolutionized the way fans engage with and collect basketball memorabilia. After the recent 2023 NBA playoffs, we want to take a look at the new wave of NBA collectors. NBA Top Shot is an NFT platform that allows users to collect, trade, and showcase digital NBA collectibles as NFTs. NBA Top Shot NFTs are unique digital assets representing a specific moment in time during an NBA game, such as a game-winning shot or a memorable dunk. Each NFT is licensed by the NBA and the NBA Player’s Association and verified on the FLOW blockchain, ensuring its authenticity and scarcity.

_{LEBRON JAMES
Dunk · Oct 11 2020
2020 NBA Finals (Series 1)
Legendary #23/79
9 Moments burned
Owned by @easyaces
TOP SALE:
$230,023.00}
_{Courtesy of Nbatopshot.com.}

The popularity of NBA Top Shot has multiplied since its launch in October 2020, with some NFTs selling for hundreds of thousands of dollars. The platform has attracted a wide range of collectors, including NBA fans, crypto enthusiasts, and investors. Many are former basketball card collectors and have transitioned to the new technology. NBA players have also shown interest in the platform, with some creating their own NFTs and partnering with NBA Top Shot to release exclusive collections.

NBA Top Shot has created a new type of collecting culture, where ownership and scarcity of digital assets have become highly valuable. The platform has also sparked discussions about the future of NFTs and their potential to disrupt traditional forms of art and collectibles. While the market for NBA Top Shot NFTs remains volatile, it has become a significant player in the growing NFT ecosystem.

NFT NYC 2023

The event this year was seemingly subdued as crypto winter kept a cold grip on the market. No Radio City Music Hall, no long lines, no huge sales, and far fewer community get togethers that seemed to be the highlight of 2022. It was a different mood for many that were in attendance, less celebratory but far more resilient.

Nonetheless, the culture was still very much alive. LTD.INC showcased a new way to use NFT technology as Wrangler teamed up with artist Jeremy Booth to create a custom “Western Art Dept” black denim jacket. The jacket had Jeremy’s art and an NFC (near field communication) chip that let anyone the artist met during the week scan his sleeve to receive a “proof of friendship” POAP with his art on it. The jacket was also paired with a token that verified ownership and authenticity. This particular practice may become more commonplace with luxury brands in the future as well for ease of tracking

NFT art of three views of a black denim jacket created by artist Jeremy Booth embroidered with "Western Art Department." — _{Courtesy of LTD.INC}

Photograph of artist Jeremy Booth in front of an orange background modeling his black jean jacket embroidered with, "Western Art Department." — _{Courtesy of LTD.INC}

Another highlight was a scavenger hunt around the city hosted by collector and influencer G Money and his Web3 company, 9dcc. Over three days, participants had to hit places around New York City to collect POAPs (Proof of attendance protocols) to complete the challenge. At the first stop, they were treated to baseball caps, which became ubiquitous with the event, and for those that finished, there was a chance at winning a Chromie Squiggle as a prize. Overall a unique way to provide a social and marketable event using the core NFT technology.

**_RIPCHACHE**
_{COLD
PRICE REALIZED: 25 eth
(USD 46983)
Courtesy of Christies.}

Christie’s hosted the Next Wave: New York Edit auction on their Christie’s 3.0 platform, ending with selling 16 lots. It was a mixed batch as far as meeting price expectations, with a total of 135.5311 Eth (~$253,000) spent on the sale.

While it was hard to compare to last year, this year’s conference was nothing to scoff at. Enthusiasts, collectors, and builders are pushing this technology further, and the applications continue growing.

*All images courtesy the artists and the respective galleries.

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Kerry-Lee Jeffery, Senior Director of Sales Agency & Advisory at The Fine Art Group, offers 10 reasons to work with an advisor for a successful sales process.

10 REASONS YOU NEED AN ADVISOR WHEN SELLING ART, JEWELRY & OTHER VALUABLE COLLECTIBLES

TANGIBLE ASSETS & SELLING SMART

What do you have?
Begin by identifying what you have and understanding the market value of the items.
When is the best time to sell?
Learn as much as you can about the art, jewelry, and collectibles markets. Your chance of selling successfully largely depends on the market’s current demand as well as other contributing factors such as an increased focus on an artist’s work due to a retrospective exhibit, a world record etc.
How do you determine the best venue for sale?
Is it better to sell at a specialized sale at a large international auction house or will a regional auction house have better results? Even selecting between the different departments of an auction house is crucial; one house may have a stronger American Art department but a weaker jewelry department. In addition to venue and department, it is also important to choose the best geographic location. Should a luxury watch collection sell in New York, Hong Kong or London?
Are estimates accurate?
It is important to have an understanding of the true market value of the asset and allow the auction estimate to serve as a tool to generate competitive bidding.
Are fees negotiable?
Everything is negotiable when selling tangible assets. Be open to negotiations on pricing, fees, logistic costs and terms.
How can an auction house promote your work?
Discuss with the auction house the catalogue description and positioning of your lot in the context of the sale. Will it have a prominent place during the exhibition?
Have you considered transport restrictions?
Depending on the work and its location, its transport may be subject to cross-border trade restrictions (for instance, works made of ivory or exotic skins on handbags require special export licenses). It is also important to use established movers who specialize in art, jewelry and valuable collectibles.
Do you have insurance?
You can keep your valuable objects insured on your home owners insurance policy until the sale occurs. If you do not have the items insured on your homeowners policy then the auction house can also provide insurance.
It is important to read and scrutinize the terms and conditions on the sales contract.
Seller’s beware – there can be a range of terms contained in a contract and you want to make sure that you understand all the conditions prior to entering a legally binding agreement with an auction house.
It is important to work with an advisor on the sales process.
By seeking the guidance of an independent advisor, you’ll be well-prepared to embark on a successful selling experience.

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THE SCOOP: #14 – June 29th, 2023

COLLECTIBLE WHISK(E)Y

BY CHARLES CURTIS

WHAT MAKES A WHISKEY WORTH COLLECTING?

AMERICAN WHISKEY & YOUNG COLLECTORS

CELEBRATING PRIDE: 5 YOUNG CONTEMPORARY LGBTQIA+ ARTISTS

BY ZHANNA TER-ZAKARYAN AND LUKE JACOBS

DORON LANGBERG

SALMAN TOOR

RF. ALVAREZ

MICHAELA YEARWOOD-DAN

KYLE DUNN

NFT MARKET UPDATE

BY GREG ADAMS

NBA COLLECTIBLES MEETS NFTS

NFT NYC 2023

READ PAST ISSUES OF THE SCOOP

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10 REASONS YOU NEED AN ADVISOR WHEN SELLING ART, JEWELRY & OTHER VALUABLE COLLECTIBLES

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