L.L. went to hell, gonna rock the bells
On July 16, 2012, a painting by a little-known artist sold at Christie’s for $74,500, nearly ten times its high estimate of $8,000. The work that yielded this unexpected result — an acrylic teal-hued painting of a rocky coast called “Nob Hill” — was not the work of a 20-something artist finishing up his MFA. It was a painting created in 1965, and the artist, Llyn Foulkes, is 77 years old and has been working in relative obscurity in Los Angeles for the past 50 years. In March, the Hammer Museum in Los Angeles mounted a retrospective of his work, which will travel to the New Museum in June, marking the first time Foulkes will have had a retrospective at a New York museum. […]
The new interest in older artists isn’t just about scholarly rediscovery. The interest has less to do with the necessity of unearthing historical material to understand an artist’s career arc and more to do with feeding an insatiable market. “Unlike the past model where most galleries hosted one new exhibition every four to six weeks, many galleries now have two or more new exhibitions every turn-over,” said Todd Levin, and art advisor and director of Levin Art Group. “There’s a increasing need to fill the constantly expanding number of exhibition opportunities.”
Today, there are some 300 to 400 galleries in New York compared with the roughly 70 galleries in New York in 1970. As for the number of shows galleries mount each year, that has likewise increased: Gagosian mounted 63 last year at its galleries worldwide, David Zwirner had 14 shows at its spaces in New York and London, and Pace had 36 across its three galleries in New York, Beijing, and London.
photo { Diane & Allan Arbus, Self-portrait, 1947 }
