Wednesday, October 29, 2008

Picasso Harlequin Withdrawn from Auction


A painting by Pablo Picasso has been withdrawn from a Sotheby's Impressionist and Modern art auction in New York. The painting, which is a 1909 work titled "Arlequin", was expected to fetch more than $30 million at auction. Sotheby's says that the owners withdrew the painting for personal reasons. However, critics have suggested that it was withdrawn due to the recent financial crisis that has shaken the foundation of the art market. The harlequin painting was owned by the late Italian born American surrealist painter Enrico Donati. Donati paid $12,000 for the painting in the 1940s. Is this a sign of what is to come?

Take care, Stay true,

Brian Sherwin
Senior Editor
www.myartspace.com

2 comments:

Donald Frazell said...

Its simply the proof of how messed up the art world is, that the market is all. This painting was bought for what would probably be the equivalent of about $60k now, by the most famous artist of the time during his key creative period. THATS what this says, art is an investment, no more important than a rare postage stamp. Speculation is all, and look where that has gotten us.

Dumbass punks straight out of art school, with no knowledge of the world, all eager to create a career, truly their most creative act as their art is absurdly stupid, want that much for childishly retarded self indulgences. The art world is completely corrupt. Period.

Art collegia delenda est.

The art world must be destroyed, and begun anew, This is in the heart and mind, forget all you have been taught, and go back to the beginning. Start with no preconceptions, lay out the great art of the world before,you, and come up with your own definition of art. In the arts, those who can do, those who cant teach. Ignore those who cant.

Anonymous said...

Should we seriously wonder about the timing of this?

I am not sure what has been more hideous to observe; the look of horror on wall street traders faces, or the pathetically inflated prices 'investors' pay for art at auction.

A correction is well over due.