Recently, a Christie’s art sale was the most expensive auction in history. It included works of Jackson Pollock, Roy Lichtenstein and Jean-Michel Basquiat among other artists. The sale totaled $495 million.
The auction set record-breaking world auction records for 16 items and nine pieces sold at more than $10 million (PS6.6m) in addition to 23 fetching more than $5 million (PS3.2m). Christie’s stated that the record-breaking sales were a sign of “a new era in the art market”.
The highest-priced item in 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) is worth $48.8 million.
The works in all three sets the highest price ever paid by the artists during auctions. Christie’s described the auction’s total of $495,021,500 including commissions to be “staggering”. Four of auctions were not sold.
Additionally the painting 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 images it as an “masterpiece of 20th Century art” and as the “epitome” of the artist’s 1960s photography 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 declared. Steven Murphy, CEO of Christie’s International, said new collectors are 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. Some of them wouldn’t inspire a positive emotion for me, whereas others might be slightly appealing but for the vast majority of them, I don’t know how the prices being reflected in the artwork and in turn, vice versa. It is evident that these paintings weren’t intended to be for people who are like me, being an artist, but wealthy patrons can certainly appreciate their inherent artistic value evidently.
It is hard to find anyone who would agree with all of these claims but allof them, or at the very least certain of them, need to be true for the cost of art to be so much higher than the price of music. Additionally, I don’t believe that art lovers and outstanding artists have to go through the same legal process as musicians do when they release their work to the public domain. So why shouldn’t the rewards be equal and, if not more so, for musicians who protect their work as they do when creating it. Musicians and composers need to perform more than just authenticate their work and get precise appraisals of the value of their work however, they are payed less. The cost of equipment for musicians is higher than for painters.
Perhaps it’s fame and not money, that musicians are looking for? This could explain why the majority of musicians accept the small payment they get from records as well as digital downloads. Maybe that’s why they perform more frequently to build their reputation, and not necessarily to increase their wealth. But wait a moment and you’ll see that musicians make the most money through live performances and selling merchandise, not from the music. This is probably why musicians often see themselves as not composers, instead, they are entertainers and performers.
So , what are musicians able to do when they don’t think of themselves as entertainers instead, they see themselves as composers who compose music as an art form? They too are driven to make a living and make a living from their chosen field, they require a specific method of presenting their work to fans of Afrobeats Music or art enthusiasts in search of artifacts and curators seeking exclusive pieces to display inside their personal galleries. Imagine a piece of music that only a few had ever heard of, and is shown and played exclusively by a particular music player at the private art gallery or collection.
When I think about ways musicians can emulate the examples that painters have set for the field of fine art, I’ve identified four principles that can assist in making the amazing financial rewards they’ve earned for the artist.
Let’s look at some of the aspects that define markets for art and look at the ways musicians are able to incorporate these principles to their production, creative and marketing strategies.
The composer has to come up with experiments using sound or compositional methods. Certain music falls within the realm of the general public however, other music is a part of art. It’s not hard to discern the distinction. The distinction is evident when you compare the atmosphere of the nightclub as well as 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 it is not common for everyone to believe Jackson Pollock was a great painter, but everybody acknowledges that it took years of growth to get to the point at which his style was able to be developed.
It’s the way of life of the composer or artist that attracts the public’s attention and the respect of their colleagues, and the appreciation of the music lover. In music, the fashion of the composer regardless of genre, I like to call it a unique sound.’ It’s the distinctive sound that art and music lovers are likely to want to own and for which they could consider paying for it or offer up prices to get it at a higher cost.
This could be an imitation of the art gallery, where an artist or a group of artists display their works on display. The main difference between this music museum is it will have a hall with listening spaces or stations. The performances will not be live however, they will become sound installations.
You can also divide the space into multiple compartments to accommodate various composers. The performance could be an exclusive occasion for serious collectors of art and music who seek out the latest the sounds they like and then purchase the items they love.
The goal of a music gallery should be the same as that of the art gallery, which is to provide people a glimpse of the artist’s work as well as give critics an opportunity to discuss their work, allow other composers to comment on the work of a peer and to make a buzz in the art industry. Remember that it should not become the thing that generates 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 while the other is not. Also one of the primary features of a painting is its medium, and art are both one.
In contrast to music, the songs must be transferred to another item like an album, cassette tape or CD player before it is recognized, but when you paint (or sculpture) the object has been turned into art. What is the process or is it possible for a CD, cassette or download to become art?
The CD and the cassette are more like an image of a painting than being a genuine expression where the medium and art form go hand in hand.
The first step that musicians can do to transform their work into art is to make your music and the medium. The most effective method I have come up with to achieve this is to consider the past. The vinyl album precisely achieved this kind of quality through album artwork, its sizing and even its packaging.
Let’s talk about some of the characteristics of the vinyl LP, and the valuable 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 and earn a living.
Nowadays, there are a variety of businesses that allow you to modify your LP album, as well as artwork. This is great because it allows you complete control over the style your packaging will take.
It’s a way to express the personality of the band, artist or project into tangible shape. There are a variety of colors available, and unique combinations are an option to add some dimension to your music that’s usually available with cassette tapes CD’s and digital downloads. Also, glow-in the-dark and split-colored vinyl are readily available for composers who are looking for something that has some more style.
Another excellent way to improve the musical experience through the packaging as well as presentation, is to think about 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 an appearance of frosted.
The side that is etched doesn’t have no grooves, music or any other features, but gives a look to your music program. I’m not sure if the it’s possible to create an hologram however that is another aspect that can add visual appeal to your music bundle.
The last thing I’d like me to address is how big the album. Contrary to CD’s and cassettes that both have one size that is determined through the playback device they are played with turntables or phonographs which have arms that can be adjusted to the various dimensions of the LP’s.
Knowing this will give you a new angle to create artwork for the music player. It could be an even the possibility of creating a canvas for painting that can hold an LP inside its frame and turn it into the cover. For composers and musicians with multiple talents in art creating a painting of their own for a release of music release might be a viable option to think about.
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 preserve the idea of the LP in the core of the music box but remove the material from the LP. Ideally, the ideal material for an art-music LP is one that doesn’t warp, can’t be broken, would stop grooves from becoming worn out and be scratchproof.
That means you’ll need to research and discover what you can do with exotic metal alloys, exotic substances industrial metals, special 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 that is specifically made for this particular material and type of album.
If an art-deco music LP would ever be created, it must be able to stand the tests of time and endure storage, use and travel, since it transfers custody from one owner another over a period of time, and possibly hundreds of years.
These are the primary reasons for owners of music LPs that are fine art should consider getting insurance for their asset. Non-vinyl LPs can also be made to astonish the art lover, music fan, or investor with something like an LP that is made from 24-karat gold, or other precious metal, such as platinum or silver.
One change could transform 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 category of investment, tangible asset (collectible) as well as fine art. In the absence of existance of this particular material, we need to seek out novelty in order to create the desired appeal.
Another thing to consider is the notion of exclusivity with regards to ownership of art. Many people can’t afford to buy the luxury of a Picasso however, those who can do not want to share it with the world since they want to have exclusive ownership of the Picasso as an aspect that comes with owning art.
The best way to grant the exclusive ownership of a music album to those interested is via contracts. Therefore, 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 preferences, but in the end it must state the things that the owner is allowed for or barred from doing in connection with the work you’re selling them.
Your buyers should be aware that they are able to transfer title to the collection their heirs or sell it to private collectors, just as you would in the case of any tangible item. This is a part of the ownership of art and fine pieces of art. They’ve been conditioned to expect from dealing with galleries and other collectors. So, you must be sure to treat them like professional.
Furthermore, you’ll want to prohibit legally the purchasers from broadcasting or disseminating music on your original LP or any other medium. To protect its value, the music should be kept in the domain of public access and within the control of those who are entitled to listen.
If the owners would like to discuss it with others and perhaps even play it to an intimate gathering as an art exhibition, then that’s great, however they shouldn’t be allowed to copy or make a profit from the recordings.
The great thing about contracting with a limit supply is that they aid in tracking all the owners throughout your life and protect the worth of your work.
If any of them could be proven to be the one responsible for the leak of the information to the public, you’ll face a legal case which you’re likely to be able to win. If a leak were to occur then your value (price) for the LP could drop dramatically, and sales could be completely wiped out. But what’s the biggest risk possible scenario is that your music reaches the bottom of the price scale , namely $.99 or less per song?
The Law of Supply and Demand should be a part of the equation to price your music as art. In essence, the rule of supply and demand functions in this way: the higher supply, the less demand. The lower availability, the more the demand. Also, the greater the quantity of something in the world, the less valuable it is and the less exists, the greater its worth. The law may not work to a perfect degree however generally speaking, it is a good idea.