The Economics of Art Photography

This post was cross-posted in The Camera Club of New York's Blog.

A few weeks ago the Andreas Gursky print, Rhine II, was auctioned for $4.3 million, breaking the recordpreviously held by Cindy Sherman. Guardian Article: The world's most expensive photographs - in pictures. I always admired Rhine II. I think it was one of the first prints by Gursky I encountered. Its striking formalism speaks of a manufactured landscape, but also of pattern, color and texture. I'm not sure it if is stronger then his 99 cent store image which previously held the record of the most expensive photograph. I encountered this image earlier in my photographic education so I appreciate it differently, I suppose.

This got me thinking about the economics of the art photography market. Normally we don't really know how popular an art photographer's work is. Sure, we see their prices at a gallery and the editions they are claiming they will print, but it's hard to determine the final sale prices and whether their show actually sold out. For the big names, auctions are the best way to see what's going on.

Recently, I went to the Camera Club's benefit auction for the first time. It got me thinking about economics, as well. This event is a strikingly open way of seeing the popularity of an art object for the established and emerging artists who participated. It's not as exacting as a Christies auction, but it folds back the art curtain a bit.

Cindy Sherman, Untitled, color coupler print, executed in 1981

I'm down in Miami this week for Art Basel Miami Beach. The economics of art are all around me. Here they are secretive and deceptive. Please post your comments below if you have any questions for the art fairs and galleries here.

harlan erskine, Art Basel Miami Beach, 2002

If you're in New York, Gursky has a show currently up at Gagosian Gallery—coincidentally timed for this new auction record. I'll be sure to check it out when I get back. Here it the info:

ANDREAS GURSKY NOVEMBER 4 - DECEMBER 17, 2011 Gagosian Gallery 522 West 21st Street New York, NY 10011

Tonights FotoChat we talk Copyrights with Carolyn E. Wright, a/k/a the Photo Attorney®.

As many of you know Todd Walker and I have restarted the tweetchat ArtPhotoChat with the shorter tag #FotoChat. Tonight, Tuesday July 16th at 9 PM EST / 6 PM PST we are excited to welcome Carolyn E. Wright, a/k/a the Photo Attorney® (twitter: @PhotoAttorney) as our guest to talk about copyright and fair use.

Here are a few of the cases that are bouncing around the blog-o-sphere, I'm linking you to an article that I think sums up a lot of the debate via A Photo Editor - take a look:

Artist Janine “Jah Jah” Gordon's images vs. photographer Ryan McGinley's. (article)

Photographer Jay Maisel vs.internet entrepreneur Andy Baio with his lo-fi 8-bit tribute to Miles Davis’ "Kind of Blue" called "Kind of Bloop."

Patrick Cariou’s Yes Rasta book vs. Richard Prince's Canal Zone exhibit at the Gagosian gallery (article)

Join in tonight at 9 pm EST.

These Twitter Photography Chats anyone can join in or just read it live by using the hashtag #FotoChat on Twitter. One easy way to transform twitter into a chat room is Tweetchat.com and entering the FotoChat room here: http://tweetchat.com/room/FotoChat

PS., you should follow OcularOctopus on Twitter, here:http://twitter.com/OcularOctopus, me here:http://twitter.com/harlanerskine and our guest  Carolyn E. Wright, a/k/a the Photo Attorney® here: http://twitter.com/PhotoAttorney

Remember that the information is for educational purposes only and does not constitute legal advice. You first must receive written confirmation before you are a client of the Law Office of Carolyn E. Wright, LLC.

OPENING TOMORROW: Fringe Economies: Sarina Finkelstein & Maureen Drennan at the Newspace Center for Photography

Fringe Economies

Sarina Finkelstein & Maureen Drennan

May 6th – 29th Opening Reception: Friday, May 6th 6-9pm Artist Lecture: Saturday, May 7th 1pm

Maureen Drennan, Adam, 2008

My friend and fellow SVA Alum, Maureen Drennan is in a two person show at the Newspace Center for Photography in Portland, OR. I had the pleasure of watching this body of work develop. It is a fascinating series and quite a relevant body of work to show on the west coast. If you are around be sure to get out there and see the opening and artist lecture.

from the press release:

MAUREEN DRENNAN

Maureen Drennan will be presenting work from her series “Meet Me in the Green Glen.” The series documents the life of Ben, a marijuana farmer in California. Though it is legal to grow marijuana in California, it is still an activity that carries heavy social and political stigma. Drennan’s photographs of Ben’s life, his lands, and his plants is an intimate look at a seldom seen lifestyle.

Maureen Drennan is a photographer born and based in New York City. Since receiving her MFA in photography from the School of Visual Arts in 2009, her photographs have been included in numerous group exhibitions including the Chelsea Art Museum, New York City, Silvereye Center for Photography, Pittsburg and Rayko Gallery, San Francisco. Maureen has received honors from Aperture, The Photo Review, PDN, The Photographic Resource Center of Boston, Humble Arts, and Artist as Citizen. Her photographs were included in The Collector’ s Guide to New Art Photography, Volume 2. Maureen currently teaches photography at the City University of New York.

www.maureendrennan.net

SARINA FINKELSTEIN

Sarina Finkelstein will be presenting work from her series “The New 49ers.” The series is an investigation of the re-emergence of gold prospectors in California. The New 49ers are recently laid-off workers, veterans, retirees, ex-convicts and freelancers in between gigs—all dependent on the income they derive from gold prospecting. Finkelstein’s project draws a comparison between the original Gold Rush, the lesser-known surge of gold prospecting during the Great Depression of the 1930’s and the modern-day wave of gold prospectors in California during the Great Recession.

Sarina Finkelstein earned her BFA from Washington University and her MFA from the School of Visual Arts in New York. Her work has been featured as the cover story forThe Daily, in SEVEN, and on TIME.com and NPR.org. She has been a guest speaker for Professional Women Photographers and a speaker and award recipient at the Society for Photographic Education National Conference. Finkelstein lives in New York.

www.sarinafinkelstein.com