Recently, a Christie’s art sale was the largest auction ever. The auction included artworks of Jackson Pollock, Roy Lichtenstein and Jean-Michel Basquiat among other artists. The sale totaled $495 million.
The auction set record world records in auctions and nine pieces sold at more than $10 million (PS6.6m) in addition to 23 fetching more than $5 million (PS3.2m). Christie’s claimed that the record-breaking auctions reflected “a new era in the art market”.
The highest-priced item in the sale on Wednesday was Pollock’s drip art #1948 that sold for $58.4m (PS38.3m) which is nearly double its estimate prior to the sale.
The work of Lichtenstein’s Woman with Flowered Hat sold for $56.1 million. A different Basquiat piece, Dustheads (top of article) is worth $48.8 million.
The three works all set the highest price ever paid by the artists during auctions. Christie’s described the auction’s total of $495,021,500 including commissions in terms of “staggering”. Four of auctions were not sold.
Additionally an oil painting from 1968 of Gerhard Richter has set a new record for the most expensive auction value achieved by an artist living today. Richter’s photo-painting Domplatz, Mailand.
Sotheby’s classified Domplatz, Mailand, which shows a cityscape that has been painted in a manner that resembles blurred photographs and is described as an “masterpiece of 20th Century art” and as the “epitome” of the artist’s 1960s photographic canon. Don Bryant, founder of the Bryant Family Vineyard and the painting’s current owner, has said that the work “just knocks me over”.
Brett Gorvy, head of contemporary and postwar art He said “The remarkable bidding and record prices set reflect a new era in the art market,” Gorvy declared. Steven Murphy, CEO of Christie’s International, said new collectors were driving the market to a new height.
When I read this article, I was awestruck at the amount of money these artifacts were able to fetch. A few of them will not provoke a positive emotional reaction to me, while some might be slightly appealing however for the majority of them, I don’t know how the prices evident in the artwork, and the reverse is true. It is evident that these paintings weren’t intended to be for people who are like me, or an artist. However, wealthy patrons can certainly appreciate their inherent artistic value evidently.
There isn’t a single person who is in agreement with all of these claims but the majority, or at best certain of them, need to be true to allow the cost of painting to be so much higher than the price of music.
Additionally, I don’t believe that art collectors and top artists must deal with the same legal process as musicians do when they release their works into the public domain. Therefore, why isn’t there a similar reward and, if not more so, for musicians who protect their work as they do in creating it.
Composers and musicians, however need to perform more than just authenticate their work and get exact appraisals on the value of their work however, they are less. The expense of equipment for musicians is higher than for painters.
Perhaps it’s fame, not money, that musicians are seeking? This could explain why the majority of musicians are content with the poor amount of money they earn from the record industry or digital downloads. It’s possible that’s the reason why they perform more frequently to build their reputation, and not to make a fortune. But wait a second and you’ll see that musicians earn the majority of their income through live performances and selling merchandise, not from the Afrobeats Music. It’s probably the reason why musicians often see themselves not as composers instead as entertainers and performers.
What can musicians do, who don’t view themselves as entertainers but rather as composers who compose music as an art form? Since they also are driven to make a living and make a living from their chosen field, they require a specific method of presenting their work to music enthusiasts or art collectors looking for of treasures and curators looking for unusual pieces to put inside their personal galleries. Imagine a work of music that very few have heard before, shown and played exclusively by a particular music player at an art gallery that is private or a collection.
In my research into how musicians can emulate the examples of painters in Fine Arts, I’ve identified four principles that can aid in making the incredible financial rewards that they’ve accumulated for the artist. Let’s look at some of the factors that influence this market and look at what musicians could do to apply these ideas to their production, creative and marketing practices.
The composer is required to design and experiment using sound or compositional methods. Certain music is in the realm of public however, other music belongs to the realm of art. It’s not hard to discern the distinction. The distinction is evident when you compare the atmosphere of a nightclub and the music in the soaring atmosphere of the ballet or opera and the music. It isn’t necessarily one of the types or styles of music. It is in the sonic signature of the composer. That is to say there are many who believe that Jackson Pollock was a great painter, but everybody acknowledges that it took him many years of growth to get to an age where his style could emerge.
It’s the way of life of the composer or artist that draws the public’s attention as well as the admiration of friends, and will earn the respect of the music enthusiast. In music, the fashion of the composer regardless of genre, is what I refer to as a distinctive sound.’ It’s the sound signature that art and music lovers would like to own, and for which they could consider paying for it or increase costs of owning it to greater price.
This could be an imitation of the art gallery in which an artist or a group of artists display their works on display. The distinction with an art gallery would be that it will have a hall with listening areas or stations. The shows will not be live however, they will become sound installations.
You can also divide the space into multiple compartments to accommodate various composers. The concert is an event that is for serious collectors of art and music who seek out the latest audio experiences and purchase the items they love.
The goal of the music gallery could be similar to the art gallery, which is to provide the general public a glimpse into the artist’s talents as well as give critics things to talk about and get other composers to discuss the work of a peer and to generate buzz in the art industry. Remember that it should not just be an event which generates the excitement, but rather it’s the music that drives the occasion.
The primary distinction between musical composition and a painting is the fact that the former is a tangible work of art and the other one isn’t. Also one of the primary aspects of a painting its medium, and art are both one.
In contrast to music, the audio must be transferred onto another item like an album, cassette tape CD, or an mP3 player before it is recognized, but when you paint (or sculpture) the object has been changed into artwork. What is the process or is it even feasible for a CD, cassette or download to transform into art?
The CD and cassette are more like an image of a painting than an expression of the art where the medium and art form go hand in hand.
The first step that musicians could take to transform their work into art is to create your music and medium. The most effective method I’ve come up with to achieve this is to consider the past. In a way, the vinyl LP was very close to achieving this quality through album artwork, its sizing and even its packaging.
Let’s briefly discuss the advantages of vinyl LP as well as the marketing opportunities that I believe could provide some interesting avenues for musicians who want to turn their music into art with appropriate prices and earn a living.
Nowadays, there are a variety of companies that allow you to personalize your album as well as the artwork. This is fantastic because it allows you complete control over the style your packaging will take.
This is a creative way to express the personality of the musician, band or group in physical shape. There are a variety of colors available, and unique mixes are an option to add some dimension to your music that’s not usually available with cassette tapes CD’s and digital downloads. Also, glow-in the-dark and split-colored vinyl are readily available for music makers who want something with some extra style.
Another excellent way to improve the musical experience through packaging , presentation and packaging is to look into the idea of etching art on vinyl. Etched vinyl is a picture of a record that has been pressed into the side not playable of the record, which is characterized by a the appearance of frosted.
The etched side doesn’t have the grooves and music, but it adds a distinct look to your music program. I’m not sure if the an etched design can also be the appearance of holograms however that is an additional dimension that could add visual appeal to your music bundle.
The final aspect I’d like me to address concerns the dimensions of an LP. Contrary to CD’s and cassettes that both have one size that is determined through the playback device the LP’s are played using turntables or phonographs, which have arms that can be adjusted to different dimensions of the LP’s.
This gives you an additional perspective to design the music program. It could be an even an option to create an artist’s canvas that could hold an LP inside its frame, transforming it into the cover. For composers and musicians who have multiple talents and talents, a unique painting for a release of music album could be a viable option to consider.
If you consider the dimensions of the 12″ LP is actually the size of a small painting. Foldable or dual LP covers are also available which provide a much larger surface with which to more greatly present amazing album art work to dazzle customers. The dual LP album cover would give you exactly a 24″ 12″ area to work on.
Different, more advanced versions of the method I’m discussing for the LP maintain the concept of the LP as the heart of the music box but remove the vinyl material. Ideally, the ideal material for an LP of fine art is one that doesn’t warp, can’t break, stop grooves from becoming worn out and be scratchproof.
This means that you’d have to conduct your research and discover the possibilities with exotic materials, metal alloys industrial metals, special plastics and non-scratch surfaces to create the ideal substance to create a high-quality music album. Additionally, this substance will play high-quality CD sound using any turntable featuring a specially designed needle that is specifically made for this particular material and the album.
If an art-deco music LP would ever be created, it must be able to stand the years of storage, usage and travel, in the process of transferring the ownership from one owner to another over the course of decades or hundreds of years.
These are the primary reasons that owners of music LPs that are fine art must obtain insurance for their asset. An LP that is not vinyl could be made to astonish the music collector, art lover, or investor by using something like an LP that is made of 24 karat gold or other precious metal such as platinum or silver.
The slightest change can transform an LP worth one million dollars or more, depending on the level of aggressiveness of bidders. You’ll have to conduct some digging to determine the options available and what they could be used to place your LP in the category of investment, tangible asset (collectible) and fine art. Without the presence of this perfect substance, we should seek out novelty in order to create an appeal.
Another thing to consider is the notion of exclusivity with regards to ownership of art. It’s not for everyone to afford the luxury of a Picasso however, those who can do not want to share it with the world since they want to have exclusive control over the Picasso which is part of belonging to fine art.
The best way to grant the exclusive ownership of a music album to the interested parties is through contracts. You’ll need seek legal counsel to establish the legal framework for the ownership of an album or music that is fine art.
The contract can be written according to a variety of ways to suit your desires, but generally it should specify the things that the owner is allowed for or forbidden from doing with the product you’re selling them.
It is important for buyers to be aware that they are able to transfer title to the collection their heirs or sell it to private collectors in the same way as like any other asset that is tangible. This is a part of the procedure of owning art that they’ve been conditioned to expect from dealing with galleries and other collectors. So, you must you should treat them as an expert.
Additionally, you’ll need to legalize buyers from broadcasting or distributing the music on your original LP or any other medium. To ensure its integrity, the music has to be kept from into the general public domain, and within the control of those who are entitled to listen.
If the owners wish to discuss it with others and perhaps even play it to an intimate gathering for a fine art music display, that’s fine, but they should not be allowed to copy or make a profit from the recordings.
The great thing about the limit supply and contracts is that they allow you to keep track of every owner over your lifetime , and also preserve the value of your efforts.
If any of them could be proven to be the one responsible for leaking the material in the open, you’ll be able to be in the middle of a legal case that you can easily prevail. However, if leaks were to occur and it’s possible that the worth (price) of your LP could plummet dramatically and sales could be completely wiped out. But what’s the biggest risk possible scenario in the event that your music reaches the bottom of the price range – $.99 or less per song?
The laws of demand and supply has to be a part of the equation to price your music as art. The laws of demand and supply functions in this way: the higher supply, the less the demand , and the less demand, higher the demand. Also, the higher the amount of something and the lesser its value is and the lesser of something exists, the greater its worth. The law may not work to a perfect degree but in general, it’s a win-win situation.