Fatoş Üstek’S Book Under Review

The Art Institution of Tomorrow; Revinventing the Model is the most recent of Lund Humphries’ Hot Topics in the Art World series, and is a rallying cry to art institutions of all shapes and sizes across the globe to break free from their current ‘stagnation’. Üstek proposes an artist centric model, with equal attention given to the people who work in institutions: this model will reinvigorate the entire sector, producing learning organisations that are sites of cultural and art production, without resorting to crassly populistic programming.

Üstek’s proposes a two pronged strategy. The first is to truly centre artists in all institutions do, from commissioning all the way through to structuring budgets that properly understand and nourish the artistic process. She also proposes a widening of artists being approached, not only for the sake of the art, but to naturally diversify the networks involved in the institutions themselves. Centring a more diverse roster of artists necessarily requires embedding better digital know how and technology use within institutions to reflect the movement of making in the virtual space – in turn this will attract engagement from across the globe, further widening participation in the work of the institution.

The second prong is radical decentralisation and structural overhaul of institutional operations. Institutions can centre artists and intellectually rigorous and exciting programming by removing existing institutional hierarchies, and instead focusing on the skills of cross disciplinary teams. This decentralised approach gives staff members a sense of commitment and engagement, simultaneously providing a workplace where they feel safe and valued – and so able to produce creatively superior work.

Üstek’s new model is a compelling ideal, rather than necessarily practical at this stage (which she acknowledges for certain institutions). Insufficient attention is given to why institutions do not, or cannot currently adhere to such a model, and instead must adhere to external social and financial demands. Üstek offers her own experience curating fig-2  at the ICA as proof her model works: her accomplishments there are undeniable, but tellingly there was no requirement to produce those same results the next year, or the year after, which is the demand placed on permanent institutional staff. Most of Üstek’s suggestions are not in place already due to (often external) conditional financial and operational constraints, rather than lack of willingness to centre artists, or a desire to treat budgets as minimal suggested starting points.

Üstek’s uncompromising insistence that radical change requires proper thought and due care to the people who actually work in institutions is admirable. Operational and structural centrality is the most progressive and welcome aspect of Üstek’s new model; she posits that by focusing on artists and art professionals, and supporting their work, new life can be breathed into institutions, so they can avoid simply pandering to populist trends. While there are questions to be asked about how the decentralised, committed teams can be brought into being, as a goal and method of reinvention Üstek’s model is an indisputable ideal to aim for.

The Art Institution of Tomorrow: Reinventing the Model by Fatoş Üstek is available for sale starting Friday, April 26th as part of their Hot Topics in the Art World Series on the Lund Humphries’ website.

Stay tuned for our upcoming episode announcement of the ArtTactic Podcast where Adam Green will be joined by Fatoş Üstek, author of the new book The Art Institution of Tomorrow: Reinventing the Model.

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Spanning over 14 centuries, 3 continents and a multitude of mediums, pre-modern Islamic art as an overarching term for “art made by and for people who lived or live in lands where the majority were Muslims” (Bloom & Blair, 1997) constitutes one of the most geographically, temporally and material diverse markets in today’s art world. Despite headline-maker lots such as the US$14.9 million (hammer price) Tipu Sultan’s sword, the US$8 million Shahnama folio, and the US$7.8 million brass candlestick, the market has in fact witnessed a volatile year-on-year movement, both in terms of sales value and volume. As the Islamic art week approaches, this article will look back at the market trajectory of the past 10 years, and ahead at the trends of collecting and investing in this broadly defined category, amidst the ongoing geopolitical tensions and budding cultural happenings in the Gulf regions.
 

Tipu Sultan’s Sword, Bonhams, 2023
 

In 2023, Sotheby’s, Christie’s and Bonhams pre-modern Islamic art offerings in London fetched a total of US$57 million (hammer price), among which Bonhams stood out with a skyrocketing 936.8% gain from the year before. The dominating force is evidently the 18th century Bedchamber Sword of Tipu Sultan, almost doubling the previous record of the most expensive Islamic object sold a year ago and making 7 times its US$1.86 million low estimate. Sotheby’s and Christie’s, on the other hand, nudged a 0.1%* increase and a 54.8%* drop respectively. Beside last year’s pressure from global economic crunch and wars, there seems to be a persistent push-and-pull market dynamics between Christie’s and Sotheby’s – when one heads upward, the other downward (except for the year of Covid). In 2022 and 2021, Christie’s scored consecutive growth of 58.7% and 24.9% after a year of contraction. Alternatively, an inverted pattern speaks for Sotheby’s, where a 24.7% fall in 2022 was followed by a year of headway and 2 years of decline. Such an inconclusive performance signals a mercurial buyer inclination towards the sellers, especially those who collect higher-value work. As for sales volumes, both auction houses experienced decline in total lots sold in 2023, with Christie’s shrinking to only a fifth of its peak in 2016 and that of Sotheby’s to 60%. Sell-through rate remains at the 55% level for Sotheby’s and a 4-year low for Christie’s, at 67.7%.
 

The Khamsa of Nizami and Amir Khusraw Dihlav, Christie’s, 2024
 

Between the blockbuster outperformers and regular curations, Persian carpets, Mughal and Safavid book arts and Iznik pottery continue to attract most bids, bringing in lofty above-estimate trade figures to the auction market. Following this trend, lots of particular interest in the upcoming sales include: a folio from the Late Shah Jahan Album in the Mughal period at Sotheby’s, the large Safavid figural velvet panel, and the Khamsa of Nizami and Amir Khusraw Dihlav at Christie’s, reaching a combined estimate range of US$1.3 million to US$1.8 million. Outside of London, Tajan’s Oriental and Islamic Sale in Paris and Oriental Art Auctions’ Fine Islamic Art Sale in the Netherlands both achieved optimistic estimate-beating results, raising half a million to over a million annually. In addition to the continental counterparts, regional presence such as Christie’s Dubai and Qatar’s AlBahie Auction House are materialising exciting opportunities, along with mega museums and buzzing educational programmes. If London wishes to continue its success in this evolving landscape, perhaps it’s time to lean less towards the legacy, but more towards finding relevance in a diverse market that will be driven by fresh perspectives and value-based motivations among the next generation of collectors and art enthusiasts.
 

*Net of Orientalist paintings, Indian paintings and private collections with mixed categories.
 

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Expert Insights Amid This Year’s Economic Uncertainties

Following the release of the Modern & Contemporary African Artist Market Report 2016-2023, ArtTactic engaged with key stakeholders in the African art ecosystem to gain deeper insights into this dynamic segment of the global art market. Our report revealed that the African segment only experienced a modest decline of 8.4% in 2023, contrasting with the broader modern & contemporary market, which saw nearly an 18% decrease during the same period. Since ArtTactic began its analysis of this sector in 2016, the African art market has undergone dynamic transformations driven by collectors evolving tastes, heightened global awareness, and the emergence of new opportunities. Other key market drivers included increased institutional attention towards African-born artists in recent years and the emergence of renowned artists, such as Marlene Dumas, Julie Mehretu, and El Anatsui, as top sellers both in this sector and the art market on the whole. Through a series of interviews with five key market experts, ArtTactic cultivated a nuanced understanding of the prevailing sentiments among different stakeholders in the Modern & Contemporary African art market, adding further context to our recently released report.

We began with insights from Alastair Meredith, Head of Department & Auctioneer at Strauss and Co., who reflected on the dynamic nature of the market today, noting, “while demand for quality Contemporary African art remains robust, there is a noticeable and growing interest in the moderns.” Danda Jaroljmek, Director at the Circle Art Agency Kenya, then highlighted the market’s global visibility, observing that, “we’re witnessing the emergence of more online platforms that extend visibility into markets previously untapped.” Next, Jo Stella-Sawicka, Senior Director at Goodman Gallery, celebrated the international recognition of African artists in her response, stating that, “there’s been a notable focus from international institutions on artists from or connected to the continent.” Furthermore, Hannah O’Leary, Senior Director in Modern & Contemporary African Art at Sotheby’s, shed light on the impact of socio-political movements, asserting that, “since mid-2020, we’ve witnessed a surge of interest in African and Diaspora art following George Floyd’s tragic death and the resurgence of the Black Lives Matter movement.” Lastly, Kéwé Lô, Director at Black Rock Sénégal, offered a unique perspective rooted in community engagement, sharing that, “Black Rock serves as a sanctuary for artists, providing them with a platform to be heard, supported, and respected in their creative endeavours.”

Together, all five African art market specialists provided a diverse range of perspectives on the recent developments, challenges, and opportunities shaping the African art market in 2024.

NAVIGATING MARKET SHIFTS AND TRENDS

“Tracing an artist’s lineage – whether stylistic or conceptual – has become a rewarding priority for many collectors.”

-ALASTAIR MEREDITH, STRAUSS & CO.

During our interview, Meredith illuminated a significant shift towards a deeper appreciation of historical context within contemporary art collections. He noted, “Collectors are increasingly contextualizing their contemporary holdings by integrating relevant artists from earlier generations.” Jaroljmek echoed this sentiment, emphasizing the rising interest in African artists due to the expanding opportunities for exposure through various digital platforms. Similarly, O’Leary called attention to the surge of interest in African and Diaspora art following more recent significant global events, which has resulted in a sustained growth trajectory.

On another note, Stella-Sawicka underscored the regional nuances and specificities within the African art landscape. She cited Cape Town’s emergence as an international art hub and the heightened focus on African artists by international institutions. Lô also emphasized the importance of nurturing local artistic communities and providing platforms for experimentation and dialogue. Ultimately, all five experts agreed that the trajectory of the African art market is undergoing a profound transformation and playing close attention to navigating these market shifts and trends will prove vital in serving both the artists and their growing global audience.

CONFRONTING CHALLENGES

Amidst a period of remarkable growth, the African art market grapples with a myriad of challenges, from logistical hurdles to infrastructure deficiencies. Meredith underscored the imperative of building robust networks across diverse regional markets, acknowledging the complexities involved. Jaroljmek further highlighted the absence of government support and corporate patronage within the Kenyan art ecosystem, underscoring the need for systemic changes to foster growth. Lô’s insights illuminated the intersection of environmental and social concerns, emphasizing the art residency’s commitment to community engagement and sustainability. O’Leary then stressed the importance of investing in education and infrastructure for sustained growth, recognizing the foundational work needed in emerging markets. Stella-Sawicka amplified this sentiment, drawing attention to the disproportionate impact of climate change on vulnerable communities in the Global South and advocating for sustainable practices within the art industry.

“A big challenge that is not often discussed in the context of the art market is the disproportionate impact of climate change on the Global South. Important initiatives to address the art world’s response to the climate crisis that have come from the global north, such as Climate Coalition, speak to a context that does not translate meaningfully to the infrastructure, shipping, transport and material realities faced on the continent.”

– JO STELLA-SAWICKA, Goodman gallery

Yet, despite these challenges, there’s an undeniable sense of optimism and determination among experts to navigate and overcome the obstacles facing the African art ecosystem. Through collaboration, innovation, and a commitment to sustainable development, the African art market stands poised to realize its full potential on the global stage.

EMBRACING NEW OPPORTUNITIES

In the dynamic landscape of the African art market, challenges intertwine with an array of opportunities waiting to be seized. Lô’s visionary perspective accentuates the transformative impact of community engagement and creative exploration, envisioning a future marked by vibrant growth and enriching cultural exchange. O’Leary champions the untapped potential inherent in the African market, advocating for greater representation of African artists within esteemed museums and collections.

“We see such huge potential for growth in this market. By 2050, one in every four people on the planet will be African – yet African artists represents just 0.9%* of contemporary art sales value today. Our focus has always been on collectors on the continent itself, who account for approximately two-thirds of our buyers in Sotheby’s African auctions.”

– hannah o’leary, sOTHEBY’S

Stella-Sawicka then underscores the significance of nurturing connections across the Global South to foster dialogue and solidarity among diverse artistic communities. Meanwhile, Meredith identifies education as a pivotal catalyst for market expansion, emphasizing, “Education is perhaps the key driver of a burgeoning market.” Jaroljmek looks towards collaboration and the expansion of exhibition spaces as pathways to growth, asserting, “We need to persuade the big art fairs to accept African galleries.”

LOOKING AHEAD IN 2024

Despite the prevailing economic climate, the outlook for the African art market remains positive. Meredith projects a trajectory of steady growth, underpinned by the dynamic contemporary scene, affirming, “The outlook is undeniably promising.” Jaroljmek echoes this sentiment, noting a shift towards more strategic collecting practices amidst prevailing global uncertainties.

“The market for art worldwide is more cautious, and the African art market is no different. Collectors are closing more carefully, so I would expect that we will see less risk taking with collectors acquiring more established artists.”

– danda jaroljmek, circle agency kenya

Looking ahead, O’Leary anticipates a significant uptick in institutional recognition for African modernism  in 2024 through prominent museum exhibitions, signaling a widening acknowledgment of historical artists. Stella-Sawicka also underscores the criticality of fostering cross-cultural partnerships and community engagement as essential drivers of resilience and market expansion.

As collectors and industry players eagerly await the upcoming Modern & Contemporary African Art auctions this week, the African art market braces for its inaugural challenge of 2024. The London sales kick off at Sotheby’s on 21 March, followed by Bonhams on 27 March. In Cape Town, Strauss & Co hosted their Evening Sale on 19 March, having previously  brought their first selling exhibition for South African artist Alexis Preller to London from 5-10 March. Further details are available here.

The African art market stands as a true testament to the intersection of commerce and culture, positioned to play a pivotal role in reshaping the importance of artists from the Global South in the evolving art landscape. With strategic planning, collaborative initiatives, and dedicated talent development, the market offers both cultural enrichment and economic advancement for future generations.

Learn more by downloading our Modern & Contemporary African Artist Market Report 2016-2023 now available online.

*Based on the total auction sales data from ArtTactic’s Global Art Market Outlook 2024 Report.

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Are you a student or recent graduate eager to contribute your voice to ArtTactic’s Editorial vision? We’d love to hear from you!

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View of exhibitor stalls at Affordable Art Fair, Battersea Autumn 2023 © Graham Turner

A CONVERSATION WITH UK FAIR DIRECTOR HUGO BARCLAY

As London eagerly anticipates the Spring Edition of Affordable Art Fair, set to unveil its vast array of artworks from 113 leading galleries at Battersea Evolution tonight, Affordable Art Fair London Battersea Spring promises an immersive experience for seasoned and first-time art collectors alike. In celebration of their 25^th year, the fair will also host special exhibitions honouring International Women’s Day and the Pantone Colour of the Year: Peach Fuzz amongst other commemorative offerings. Running until Sunday, 10th March, the fair’s ethos is deeply rooted in democratising the art world. By aligning visitor ticket pricing with other renowned London art institutions, capping artwork prices, and mandating transparent pricing labels, Affordable Art Fair aims to increase accessibility and transparency in the primary art market.

In an exclusive interview with Hugo Barclay, UK Fair Director of Affordable Art Fair, we explore the essence of what makes Affordable Art Fair stand out amidst tense competition in the evolving landscape of global art fairs.

Fostering a Culture of Accessibility and Inclusivity

“Affordable Art Fair has played a critical role over the last 25 years in making art more accessible to an audience who might not have otherwise become art enthusiasts and collectors,” shares Barclay. Both the fair’s price range between £50 and £7,500 and commitment to showcasing living artists underscore it dedication to inclusivity. It’s an art fair for everyone, designed to spark curiosity regardless of background, budget, or level of expertise in the art world. Offering a range of tours, workshops, and feature areas under various price brackets ensures that art collecting can be accessible to every visitor. Notably, millennials are drawn to the fair’s accessible pricing as they come of age and begin to direct more of their discretionary income toward art collecting. That said, the fair’s overall buyer demographic has not changed much in the past decade.

Empowering Emerging Talent

A hallmark of Affordable Art Fair is its unwavering support for emerging artists. Through initiatives such as the annual art graduate exhibition (in the Autumn edition) and charitable giving programs, the fair provides a platform for budding talents to thrive.” Globally, we have donated over £2.3m worth of stand space and advice to emerging artists and have raised over £1.5m for local charities,” Barclay highlights. The fair’s commitment to supporting diversity extends to gallery participation as well, with approximately 30% of exhibitors hailing from overseas. The fair ultimately offers a variety of perspectives while also taking into account improving upon sustainable and eco-friendly practices involved in operating international art fairs.

Striking a Balance Between Access and Authenticity

Maintaining a delicate equilibrium between accessibility and the integrity of artworks is a challenge Affordable Art Fair gracefully embraces. “We work closely with our participating galleries to ensure they showcase original work across a variety of budgets and mediums,” explains Barclay. However, rising operating costs pose challenges for all stakeholders, especially the fair’s cherished galleries. By navigating this delicate balance between pricing, transparency, and economic sustainability, Affordable Art Fair upholds its reputation for inclusivity and innovation.

Embracing the Physical Experience

In an era dominated by online galleries and digital platforms, Affordable Art Fair champions the allure of physical art experiences. “You cannot underestimate the value of physical in-person moments,” asserts Barclay, “the whole ecosystem will always have a preference for the tangible.” By curating an immersive atmosphere and offering on-site framing services, the fair engages visitors in the entire art acquisition process, fostering meaningful connections with gallerist, artists, and the art itself.

An exhibitor puts the finishing touches on their stand at Affordable Art Fair Battersea Autumn 2022 © Guy Bell

Looking ahead, Barclay envisions Affordable Art Fair evolving into a dynamic destination centred not just around art, but around enriching experiences. “We are always looking to support our ever-expectant visitors,” he notes, emphasising the importance of creating a welcoming space where art enthusiasts of all backgrounds can come together to celebrate artistic creativity. With seventeen Affordable Art Fairs annually in a range of global locations, the fair aims to bring its mission of democratising access to art collection to all corners of the globe.

As the Spring Edition of London’s Affordable Art Fair approaches, it presents an opportunity for art enthusiasts to immerse themselves in an inclusive artistic atmosphere at Battersea Evolution. With a steadfast dedication to accessibility, innovation, and community engagement, the fair stands as a market leader amidst the evolving landscape of socially conscious collecting habits and the dynamic evolution of the art industry.

Affordable Art Fair London Battersea Spring runs from March 6th to 10th at Battersea Evolution. Tickets and more info are available here.
 
Update as of 22 March 2024: 
 
Following their Battersea Spring edition (6-10 March), the first UK fair in their 25^th Anniversary year, Affordable Art Fair has now reached the milestone of £500,000,000 in global art sales generated for independent galleries and artists.
 
Hugo Barclay, UK Fair Director at Affordable Art Fair, said: “This milestone shows our impact, having helped people start and build collections over the years. It’s very fulfilling to see the joy on people faces as they fall in love with artwork at the fair.”
 
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Are you a student or recent graduate eager to contribute your voice to ArtTactic’s Editorial vision? We’d love to hear from you!

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