Recently, a Christie’s art auction became the largest auction ever. The auction included artworks of Jackson Pollock, Roy Lichtenstein and Jean-Michel Basquiat among others . It also brought in $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 selling for more than $5 million (PS3.2m). Christie’s claimed that the record-breaking auctions reflected “a new era in the art market”.
The most valuable item of the auction on Wednesday was Pollock’s drip-painting number 19, 1948 that sold for $58.4m (PS38.3m) almost double its estimate prior to the sale.
The work of Lichtenstein’s Woman with Flowered Hat sold for $56.1 million. A different Basquiat creation, Dustheads (top of article) was sold for $48.8 million.
The three works all set the highest price ever paid for the artists in auction. Christie’s described the total of $495,021,500 that included commissions to be “staggering”. Four of auctions were not sold.
Furthermore the painting created by Gerhard Richter has set a new record for the most expensive auction price ever 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 it 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, told Sotheby’s that the painting “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 stated. 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 amazed by the price these works could be purchased for. A few of them will not provoke a positive emotional reaction to me, while some may be a little but for the vast majority of them, I don’t comprehend how their costs are evident in the artwork, and in turn, vice versa. It is evident that these paintings were not designed for me as or an artist. However, wealthy patrons will certainly recognize their inherent artistic value evidently.
There isn’t a single person who would agree with these assertions however allof them, or at the very least one or two of them, have to be true to allow the cost of painting to be so much higher than the price of music. Furthermore, I am not convinced that art collectors and top artists must deal with all the legal red tape like musicians when they release their work to the public domain. Therefore, why isn’t there a similar reward or even greater for musicians who do the same job in protecting their work as they do when 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 and get less. The expense of equipment for musicians is much more 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 records as well as digital downloads. Maybe that’s why they perform more frequently to boost their popularity, but not necessarily to increase their wealth. But wait a moment it’s true that musicians earn the majority of their income from live shows and the sale of merchandise, not from the music. This is probably the reason why musicians tend to think of themselves not as composers instead, they are entertainers and performers.
What can musicians do when they don’t think of themselves as entertainers but rather as composers, who make music as an art form? They too are driven to make a living and be able to support themselves in their chosen field, they require a specific way to present their work to music enthusiasts or art collectors looking for of artifacts and curators seeking unusual pieces to put inside their personal galleries. Imagine a piece of music that only a few have heard before, presented and played with a specific music player inside the private art gallery or collection.
In my research into how musicians could follow the model that painters have set for the field of fine art, I’ve outlined four fundamental principles that could aid in making the incredible financial rewards they’ve earned for the artist.
Let’s take a look at the aspects that define markets for art and look at the ways musicians are able to incorporate 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 the general public and some music belongs to the realm that of the fine arts. It’s not difficult to distinguish between the two. The distinction is evident when you look at the surroundings of the nightclub as well as the music that is played in the soaring setting of the ballet opera and the music. It isn’t necessarily one in terms of genres of music but in the sound signature of the composer. Also it is not common for everyone to believe Jackson Pollock was a great artist, but everyone agrees that it took years of growth to get to the point at which his style could emerge.
It’s the manner of the composer or artist that attracts the admiration of patrons with wealth as well as the admiration of colleagues, and the appreciation of the music lover. In the field of music, the style of the composer regardless of genre I like to call it a distinctive sound.’ It’s the distinctive sound that art and music lovers would like to own, and for which they could want to spend for it or offer up prices to get it at a higher cost.
It could be similar to the art gallery in which artists put their works on display. The distinction with this music museum is it could have a room filled with listening areas or stations. The shows will not be live and instead would be sound installations.
It is also possible to divide one space into multiple compartments to accommodate various composers. The concert is an event that is that is only open to serious collectors of art and music who seek out the latest audio experiences and purchase their favorite items.
The aim of the music gallery could be similar to the art gallery: to show the general public a glimpse into the artist’s work as well as give critics an opportunity to discuss their work, get other composers to discuss the work of their peers, and to make a excitement in the art world. Remember that it should not just be an event which creates the excitement, but rather it’s the music that drives the occasion.
The main difference between musical composition and a painting is the fact that one is a tangible artifact and the other one isn’t. Also one of the most important features of a painting is it’s medium as well as art form are one.
As opposed to music, audio must be transferred onto another item like an album, cassette tape or CD player before it is seen, while when you paint (or sculpture) the object has been changed into artwork. How can this be or is it possible for a CD, cassette or download to transform into art?
The CD and cassette are more like the image of a painting than an expression of the art in which the medium and art form are one.
The first step that musicians could take to transform their work into art is to create your music and the medium. The most effective method I’ve come up with to achieve this is to look back at the past. In a way, the vinyl LP was very close to achieving this quality by using album artwork, its sizing and even its packaging.
Let’s briefly discuss the advantages of vinyl LP as well as the marketing strategies that I believe could provide some interesting avenues for musicians who want to turn their music into art, at a cost that is appropriate to as well as earn a decent living.
There are many companies that allow you to modify your LP album, as well as artwork. This is great since it gives you complete control over the direction your packaging will take.
It’s a way to express the personality of the musician, band or group in physical shape. A variety of colors are available and unique combinations are available to add an element to your music that’s typically available with cassette tapes CD’s and digital downloads. Split colored and glow-in-the dark vinyl are readily available for composers who are looking for something that has some extra style.
Another excellent way to improve the quality of music through the packaging as well as presentation, is to look into the idea of etching art on vinyl. Etched vinyl is a picture that is pressed onto the non-playable side of your record that has a the appearance of frosted.
The side that is etched doesn’t have no grooves, music or any other features. It it adds a distinct design element to your music collection. I’m not sure if an etched design can also be an hologram however, it would add an additional dimension that could improve the visual aspect of your music collection.
The final aspect I’d like me to address is how big the album. In contrast to CD’s and cassettes and CD’s, which are both of one size that is determined through the playback device they are played with turntables or phonographs, which have arms that can be adjusted to different dimensions of the LP’s.
Knowing this will give you a new angle to design the music program. There could even be an option to create an artist’s canvas that could hold an LP inside its frame and turn it into an album cover. For composers and musicians who have multiple talents creating a painting of their own that is accompanied by a musical album could be an alternative option to think about.
If you consider it further, 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″ space to work on.
There are other more sophisticated versions of the design I’m talking about for the LP preserve the idea of the LP as the core of the music collection but remove the vinyl material. The ideal material for an LP of fine art should be a substance that wouldn’t stretch, could not be broken, would keep grooves from deteriorating and also be scratchproof.
That means you’ll need to conduct your research and discover what you can do with exotic metal alloys, exotic substances industrial metals, specially formulated plastics, and surfaces that are non-scratch to create the ideal substance to create a high-quality music album. Additionally, this substance will play high-quality sound CDs using any turntable that has a unique needle specifically designed for this particular material and the album.
If an art-deco music LP was to exist, it must endure the years of storage, use and transport in the process of transferring custody from one owner another over the course of decades or hundreds of years.
These are the principal reasons that owners of music LPs that are fine art must obtain insurance on the asset. An LP that is not vinyl could be made to astonish the music collector, art fan, or investor with something similar to an LP constructed of 24 karat gold or other precious metal, such as platinum or silver.
The slightest change can result in an LP worth one million dollars or more, depending on the level of aggressiveness of bidders. In the end, you’ll need to conduct some investigation on your own to find out what options you have and may be able to place your LP in the realm of an investment, tangible asset (collectible) and fine art. Without the presence of this perfect substance, we should strive for originality to gain the desired appeal.
Another issue to be considered is the notion of exclusivity with the ownership of art. It’s not for everyone to afford an expensive Picasso however, those who can do not want to share it with the world since they want to have exclusive ownership of the Picasso which is part of that comes with owning art.
The only way to give the exclusive ownership of a music album to those interested is via contracts. You’ll need seek legal counsel to create the legal framework that governs the ownership of an album or music that is fine art.
The contract may be designed in a variety of ways based on your desires, but generally it must state what the buyer is permitted to perform or what they are forbidden from doing with the product you’re selling them.
It is important for buyers to be aware that they have the option of transferring possession of your album their heirs or sell it to private collectors in the same way as in the case of any tangible item. This is a part of the ownership of art and fine pieces of art. They’ve become accustomed to in dealing with galleries and other collectors. Therefore, you should treat them as an expert.
Additionally, you’ll need to legalize buyers from broadcasting or disseminating music that you have recorded 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 in the hands of the people who are entitled to hear it.
If the owners would like to discuss it with others and perhaps even play it to the benefit of a small group of people for a fine art music exhibition, then that’s great, however they should not be allowed to copy or make a profit from the recordings.
The benefit of contracting with a limit supply is that they allow you to keep track of all the owners throughout your life and protect the value of your efforts.
If any of them could be held accountable for leaking the material to the public, you’ll be in the middle of an action to file that you can easily be able to win. However, if leaks were to occur and your value (price) of your LP could drop dramatically, and the demand may be completely wiped out. But what’s the biggest risk possible scenario is that your Afrobeats Music is at the bottom of the price range – $.99 for each track?
In the same way, the Law of Supply and Demand should also be considered in the equation to price your music as art. In essence, the laws of demand and supply operates as follows: the more supply, the less the demand , and the less demand, more the demand. Also, the higher the amount of something and the lesser its value is and the lesser of something it is more worth. The law may not work to a perfect degree but in general, it’s a win-win situation.