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| | The Art | Collectors | Investors Network is not currently active and cannot accept new posts | | Damien Hirst's Gallery Sitting on Over 200 Works! | Views: 376 | | Aug 28, 2008 8:03 pm | | Damien Hirst's Gallery Sitting on Over 200 Works! | # | 
Mehul Patel | | LONDON—Damien Hirst's London gallery, White Cube, has over 200 works by the artist in stock, the Art Newsaper reports. The unsold art — which includes paintings from his famous butterfly and spot series, medicine cabinets, "Natural History" sculptures, and more — is said to be worth over £100 million ($183.6 million). That number excludes the £50 million For the Love of God, a diamond-encrusted platinum skull owned by a group of investors including Hirst himself and White Cube owner Jay Jopling.
According to the Art Newspaper, the quantity of art available for sale from White Cube helps explain why Hirst recently decided to bring his work straight to Sotheby's: His factory-like output leads him to seek new outlets for distribution. The Sotheby's auction is intended to help the artist find new buyers.
"Sotheby's promotion is not directed at existing collectors. They are targeting new buyers, especially in parts of the world which have only recently started collecting contemporary art," a source told the Newspaper.
Only Takashi Murakami is known to have a similar volume of production, and the Japanese artist is believed to be in talks with an auction house about a direct sale.
Regards,
Mehul Patel
http://www.KIPL.Net - New Media Solutions
http://IndyChai.com - India's first Web 2.0 Hyper Aggregated Private Reply to Mehul Patel | | Aug 28, 2008 8:07 pm | | re: Damien Hirst's Gallery Sitting on Over 200 Works! | # |
Mehul Patel | | Damien Hirst to Auction Own Works at Sotheby's!!!!!
LONDON—This September 15 and 16, Damien Hirst will offer a selection of his own artworks at Sotheby's, in an auction titled "Beautiful Inside My Head Forever." The highlight of the sale will beThe Golden Calf, a a formaldehyde-dipped bull with a disc-shaped solid-gold crown, gold-dipped hooves, and horns inside a gold-framed-glass box, estimated at £8–12 million ($15.7–23.7 million), reports Bloomberg. The sale will also include other formaldehyde works, paintings, cabinets, and drawings created in the past two years; Sotheby's has not yet disclosed the remaining lots.
Hirst said in a joint statement with Sotheby's that he's been wanting to do another auction since the successful sale of the contents of his defunct restaurant Pharmacy in 2004 — which sold out completely, earning £11.1 million, double its £4.9 million top estimate.
Generally auction houses do not charge fees to the sellers of multimillion-dollar contemporary art collections, but Sotheby's wouldn't say if Hirst, who takes a 70 percent cut of works sold through galleries, rather than the conventional 50 percent, according to the Times(London), will be charged a commission.
"It's a very democratic way to sell art,'' Hirst said in the statement. "It feels like a natural evolution for contemporary art."
Regards,
Mehul Patel
http://www.KIPL.Net - New Media Solutions
http://IndyChai.com - India's first Web 2.0 Hyper Aggregated Private Reply to Mehul Patel | | |
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