💰 Big Art: Worth It?

Spotlight on McKinney, Adeniyi-Jones & Hanos + FinTech to Art Philanthropy + Paris+ Shakes Up Art Basel


Welcome to the 722 new art lovers who joined last week.

Art in a Flash is a series from Frame&Flame that offers a concise roundup of the week's standout artists, pivotal collections, and key market shifts.

This week’s Art in a Flash includes:

  • 🌟 Rising Artists: McKinney, Adeniyi-Jones, and Hanos are emerging talents with prestigious exhibitions and promising futures in the art market.

  • 👀 Collector's Corner: Shane Akeroyd, a FinTech-to-philanthropy convert, curates an eclectic collection aimed at societal dialogues and believes in democratizing art.

  • 💭 Your Questions Answered: Think works under $10,000 or above $100,000 are your safest bets? Think again.

  • 🔗 Market Stories: Paris+ makes waves with big sales, Middle Eastern tensions disrupt exhibitions, potential French tax hikes loom, and legal scrutiny affects dealers as the art market undergoes transformation.

Read Time 05 minutes

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🌟 Rising Artists

Danielle Mckinney, Silence, (2022)

🤔 What you need to know: Danielle McKinney is an artist who takes 'intimate' to a new level. Raised in Montgomery, Alabama, this Southern talent transitioned from photography to painting, landing in New York City with an MFA from Parsons. But forget the credentials; her canvas is where McKinney’s authenticity shines. Moody and deeply cinematic, her work serves up vignettes of Black women in moments of private reflection, a radical shift from their often-stereotypical portrayals in art history. She's even snagged wall space in major institutions like the Dallas Museum of Art and the Institute of Contemporary Art in Miami.

Recent career milestone: McKinney's star is not just rising; it's skyrocketing. Fresh off her first solo exhibition at New York's Fortnight Institute, she's back in the spotlight with "Golden Hour" at Marianne Boesky Gallery. And let’s just pause to acknowledge the fact that Beyoncé and Jay-Z are among her collectors. She's also breaking international ground with her first solo presentation in the U.K. at Frieze London 2023.

😍 Why I Like It: In a market saturated with performative activism, McKinney’s work is a rare gem of genuine representation. Starting with an all-black canvas, she crafts a narrative that's both visual and emotional. Her influences range from Barkley Hendricks to Matisse, but make no mistake, McKinney is in a league of her own. She doesn't just 'depict' Black women; she invites us into their inner worlds, making a quiet but impactful statement that resonates far beyond the canvas. Keep your eyes on her; this is only the beginning.

Upgrade for the full batch of artists for this week, which includes reports on Tunji Adeniyi-Jones and Van Hanos. 14-day trial available.

🧐 Collector's Corner

Shane Akeroyd, President at Digital Asset

🔍 Collector Close-Up: Meet Shane Akeroyd, a FinTech mogul turned art aficionado with a philanthropic streak. He's made his mark not just by raking in dollars, but by investing in artists who have something significant to say. Akeroyd owns more than 1,500 works of contemporary art, each carefully chosen to spark discussions on race, identity, and social issues. But it's not just about owning; it's also about sharing. In 2023, he launched a website offering a virtual tour of nearly 200 moving-image pieces from his collection. He extends his support beyond personal acquisitions; Akeroyd is an active backer of art spaces like Para Site in Hong Kong and Chisenhale Gallery in London. Major art institutions like M+ and Tate also benefit from his patronage. What drives him? A firm belief that art isn't just for the elite—it's for everyone.

💎Key Artists in the Collection:

  • Adam Chodzko: Known for provocative installations that often engage the audience directly, his works act like a social litmus test, revealing more about the viewer than the art itself.

  • Sin Wai Kin: Specializing in multimedia installations, Kin navigates complex dialogues about identity and race through a lens of haunting visual narratives.

  • Mark Leckey: Leckey's work is a multimedia extravaganza that fuses elements from the past and present, creating disruptive, yet cohesive visions.

  • P. Staff: A significant figure in queer art, Staff creates installations that dissect and comment on the complexities of gender identity.

  • Tony Cokes: Primarily dealing with text-based video art, Cokes layers commentary over found footage, presenting a re-contextualized narrative on politics and culture.

  • Sondra Perry: Utilizing video installations, Perry interrogates the frameworks of identity politics, particularly as they relate to the black experience in America.

  • Martine Syms: A video artist who dissects the portrayals and clichés surrounding the black female experience, using both humor and stark observation.

  • Joan Jonas: Pioneer in video and performance art, Jonas creates multi-layered pieces that explore storytelling, form, and the female figure.

  • Charles Atlas: Atlas stands out for his video art and large-scale installations, often centered around dance and performance, incorporating both the grand and the mundane.

  • Ed Akins: His digital animations are story-driven reflections on how technology morphs human emotions and relationships.

  • Helen Marten: Marten's works are intricate assemblages that combine sculpture and screen-printing, forcing the viewer to question everyday objects and their meanings.

  • Alex da Corte: A visual spectacle maker, da Corte employs vivid colors and familiar objects in surreal arrangements that border on hallucinogenic experiences.

  • Jeremy Deller: Known for his large-scale public art projects, Deller's work is social commentary made tangible, often inviting public participation.

  • Peter Fischli & David Weiss: Their collaborations span sculpture, photography, and video, focusing on the minutiae of daily life to elevate the mundane into the realm of art.

  • Sonia Boyce: Specializing in collaborative multi-media installations, Boyce's work is deeply embedded in the discourse of both identity and community, often incorporating live elements.

“The art market has been a reflection of cheap money creating oversupply [of art]. Now we are in a place of transition, a period of uncertainty, and things will cool first but the best-case scenario is that it will stabilize soon.”

Shared by Akeroyd in an interview

💭 Your Questions Answered

Is investing in art a calculated game of high-stakes poker or more like throwing darts blindfolded? This week's burning question probes the sweet spots of the art market:

Are the safest bets truly in works priced at either under $10,000 or above $100,000?

Tracey Emin, Future; I Know he Loves me (2022)

First off, let's debunk the notion that price tags alone can validate an artist's work. Sure, a $100,000 price might give some investors confidence. But remember, artists can hit this mark almost overnight, and a hefty price is no insurance against a career crash—just ask anyone who invested in Lucien Smith or Christian Rosa.

That said, don't assume you can now safely go hunting for budget-friendly pieces under $10,000. The entry-level game isn't what it used to be. What was once a $5,000 fun gamble has now jumped to around $20,000, thanks to factors like soaring rents for galleries and shipping costs. So, is that $20,000 piece really worth its tag, or is it just covering the gallery's overhead? Buyer beware: those "affordable" gambles can rack up a hefty bill, especially if they don't hold their value.

As for that juicy middle ground between $10,000 and $100,000? There's still plenty of room to play if you do your homework. Just don't expect any easy formulas; the unpredictability is part of the thrill.

The bottom line? The art world doesn't come with safety nets, no matter the price point. Due diligence, a keen eye, and sometimes, a strong stomach, are your best allies in this venture.

Have a question about the art market you want answered? Send me an email

🔗 Market Stories

  • 🚀 Art Basel’s new Parisian darling, Paris+, is catching more than just eyes—it's raking in seven-figure sales! Is Basel's spotlight about to shift to its chic Parisian cousin? Intriguing, isn't it?

  • 💰 Swiss artist Miriam Cahn's auction prices are skyrocketing, making her a financial darling. How about more than $3.2 million in the first half of this year alone? It's worth noting that we spotlighted Cahn's burgeoning potential just a few weeks ago.

  • 🌍 Qatar Museums hit the pause button on their Flavin and Judd exhibition. Tensions in Gaza and Israel are making everyone tread lightly.

  • Upgrade for the full batch of picks this week…14-day trial available.

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