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Posts Tagged ‘Promotion’

On the contemporary art market – Expertise, Marketing and Money

December 18, 2012 1 comment
“If all signs are autonomous and refer only to one another, it must seem to follow that no image is truer or deeper than the next, and that the artist is absolved from his or her struggle for authenticity.”
- Robert Hughes, 1989

Tom Wolfe, one of America’s greatest living writers, recently had his latest work, Back to Blood, excerpted in Vanity Fair. In it, the author excoriates the miasma of power, money, influence and ignorance that surrounds the contemporary art market. Wolfe describes the billionaires descending on Art Basel Miami as a “raveling, wrestling swarm of maggots”. What has become of art, its pursuit and its collection?

The pursuit of excellence can sometimes can be a quixotic quest, all the more so when dealing with something as ephemeral as art, and particularly with the contemporary art market today. But how does excellence, or authenticity, in art cope with a nexus of questionable experts and highly liquid but bifurcating market, in a world where promotion is all?

Part of this problem resides in the question of expertise, its influence and its value. If one thinks of artists in the period of the Italian Renaissance, the quality of the fresco or sculpture is mostly self-evident in the verisimilitude of the work. Moreover, the media worked with often necessarily involved painstaking, long-term commitment and toil. What artists like Marcel Duchamp began and Andy Warhol perfected was the thought that works of art should be valued by their conceptualism. In other words, not necessarily how much time or effort was put into making an object, or whether it was any “good”, aesthetically speaking, but with more emphasis on the power of the underlying idea – representation – behind the work. “Art can be expressed purely as a thought or action”, wrote the FT recently. This postmodern concept has not evolved since the time of Warhol. Without being able to critique the amount of expertise in the manufacturing of an object, it becomes harder to address the worth of an object, unless you are in the presence of a designated ‘expert’. The situation risks creating an echo chamber of unedifying art that speaks to no-one and is so self-reflexive it loses all meaning. It also allows for an artificial inflation of prices, creating a false market that shuts out all but the ultra-rich, whose tiny but influential numbers can significantly skew the market. One need only look at how much the Chinese taste for wine is influencing global production to see such an instance in action.

Such points were neatly summed up recently by the prestigious art critic and lecturer Dave Hickey, when he announced he was leaving the art world:

Writers, dealers, curators, advisers have become “a courtier class – intellectual headwaiters to very rich people”. For this 0.01%, “art is cheaper than it’s ever been” but “nobody cares if it’s any good, and everybody hates it when something’s really great”

The ‘experts’ who assign value to contemporary art objects have come full circle. Rightly recognising that there is art worth shouting about beyond an arbitrary, Westernised canon, it has now gone too far in the other direction. As a brilliant FT article on the subject recently pointed out, “The market loves theory because it spares the need for discrimination.” Making matters worse, the article quotes gallerist David Zwirner lamenting, “connoisseurship is really not valued, sometimes it is even looked down upon”. All of which leads to a highly fragile concentration of expertise and financial capital sitting with a select few. If we look again at the wine industry, American wine critic Robert Parker was at one time so influential that growers in France began changing their product purely to suit his taste so as to earn a higher rating on his guide. Zeitgeist asked art critic Brian Sewell at a debate earlier this year whether influential patrons such as Charles Saatchi and Francois-Henri Pinault were playing a similar role in the contemporary art world; shifting value perceptions of art and artists according to their personal whim. It helps little when major collectors like Frank Cohen admit publicly that they have “bought a load of bullshit”. The quotation may sound flippant, but it underscores the massive influence the bullshit they have bought has on the broader prices in the art market.

artmarketgraphs

Auction turnover returns to pre-recession highs… just in time for slowing growth in BRIC regions?

Art adviser Lisa Schiff spoke openly about this recently to Forbes magazine, saying she was “worried that there are a lot of young artists that could really take a nosedive”.This influence is being felt keenly right now with small but highly influential – and influenced – groups of buyers in Russia, Brazil and China. But as the BRIC regions continue to stall, what will happen to arbitrarily in-demand art and artists if these markets suffer further losses or even a sudden shock? Such problems are further compounded by the massive rise and fear of litigation, as previous, bona fide experts able to certify works as being genuine are being scared away by the threat of legal action.

So there’s an expertise fallacy here, one which is not restricted to the world of art. Elsewhere, marketing, something that admittedly has always been part of the selling of art to an extent, is becoming increasingly essential for a successful artist or studio. The Montoya exhibition currently on at The Halcyon Gallery in London represents the epitome of this new trend. Full-page ads in The Economist and 30-second spots on CNBC (see beginning of article) are being taken out for the exhibition, placed seemingly without irony at the feet of the very audience the art seems to be mocking, or at least parodying. It is the increasing lack of ironic awareness that creates an emptiness in the purchase and reputation of some of today’s bigger artists, including Jeff Koons, Richard Prince and Takashi Murakami. Interestingly, the latter two have both seen stratospheric success that goes beyond the confines of the art world, helped in part by collaborations with luxury goods company Louis Vuitton.

Richard Prince's oft-repeated Nurse motif was used for the Spring/Summer '08 Vuitton show

Richard Prince’s famous Nurse motif was used for the Spring/Summer ’08 Vuitton show

The marketing of art is at its most visible at contemporary art fairs – of which there are now more than 200 annually around the world – mentioned earlier as a subject of Tom Wolfe’s new work. Frieze, which takes place annually in London, is one of the most well-known. It was intriguing to see that this year saw the debut of Frieze Masters, which some saw as an attempt to breathe new life into an event that had begun to lose its ability to surprise. It was also seen as a deliberate attempt to focus attention on more established names in order to avoid some of the volatility the market has seen with newer, less-known artists. So the market isn’t so insular that it doesn’t recognise the need for significant change.

Collecting art is something that few of us can turn into a committed past-time. Moreover, the vagaries of art over the past ten years-plus have been such that only a select few would be able to decipher the worth of a current artist’s produce. The value of their art has been dulled by demographic shifts and concentrations, by overly-excessive marketing tactics and by a reduction and muddling of the nature of what it means to be an expert. Regulation of the sector seems overdue, as conflicts of interest and an oligopolistic marketplace seem to cry out for legal oversight. Some of these problems are not restricted to the art world and it will be interesting to see if a paradigm shift sits on the horizon. The Internet is providing some antidote to this. Recent online-only auctions by Christies – one of ArtInfo’s top ten stories that moved the art market in 2012 – have made the process of bidding for items extremely popular, and small art-sellers like Exhibition A are illustrating there is room for innovation in the industry. Is the art market in an aesthetic and financial bubble, and will it burst? Time will tell.

Ai Weiwei Exhibition A

Tesco’s surprisingly refreshing offer on Coca-Cola

After enduring a series of rainy days that have seen Noah put on standby, the drenched British public could do with something to cheer them up.

Luckily Coca-Cola have built their whole proposition around ‘happiness‘.

In sunnier climes this has manifested itself through the celebrated ‘Happiness Truck‘, a branded lorry dispensing presents ranging from surfboards to footballs to free Cokes.

Sixpence of Happiness

With the economy double dipping into recession like a hungry George Costanza at a funeral adding to the misery, Zeitgeist wondered whether the UK team had come up with a more straightforward and practical way to raise a smile.

A recent visit to a local Tesco Express to stock up on some essentials for a night in found this offer where shoppers were actually paid 6p to buy a second two litre bottle.

Clearly the offer is retailer lead. Much as Coca-Cola might want to sell more product they don’t have to resort to paying people to take it. Assuming it isn’t some kind of error, it highlights the power retailers have over manufacturers.

If a brand as loved and powerful as Coca-Cola can be devalued so easily what hope do lesser brands have?

Despite offering shoppers a great deal the promotion doesn’t really work in the retailers favour either.

As a compact store on the high street with no nearby parking available, most people shopping there would have been topping up. By incentivising them so heavily to buy an extra 2l bottle, Tesco are limiting how many other full price items shoppers can carry home.

In fact, the only obvious winner here was me, with an extra bottle of Coca-Cola and 6 pence in my pocket.

I promise to invest it wisely.

A Seeding Campaign with a Difference

June 21, 2011 1 comment

As most products are developed to create or fulfil a consumer need there is rarely a great deal of confusion as to how they should be used.

That is not so say that inventive consumers can’t find extra uses for everyday products.

In some cases these innovators benefit the product and change how it is marketed. Way back in 1924, Kimberley Clark targetted the humble Kleenex to women as a means of removing make-up. It took six years, a persistant researcher and some trial adverts to convince them it ought to be sold as a hygienic replacement for the handkerchief.

In other instances a much less welcome use is discovered such as when ravers found that the innocent Vicks Vaporub could enhance their narcotic experiences.

You butter not eat this

Recently it has been an item given away as part of an on-pack promotion that has caused some confusion and generated some unexpected column inches.

Danish butter brand Lurpak have spent the year inspiring consumers and reminding them of the benefits of paying a little bit more for their butter.

More recently they’ve been giving away  seeds for consumers to grow their own herbs. A website supports the promotion with lots of tasty recipes for each herb, including some by Jamie Oliver.

However, some residents of a Dorset care home mistook the slabs of soil for biscuits and nearly choked as they scoffed them down.

Upon hearing the news, Zeitgeist rushed out and boosted Lurpak‘s sales by one.

‘Here are your free basil seeds’

Without the sleeve, things are less obvious

A warning not to eat what is inside the sleeve

The on-pack promotion serves to give the shopper a distinctive reason to choose that product over any competitors, but as we know, the shopper isn’t always the consumer.

While the person who bought the butter for the care home would most likely have known what was stuck to the side of the tub, once the sleeve is removed there is no explanation as to what it is.

While this incident seems to be isolated and lighthearted it highlights the need to consider how a product is used once it leaves the store.

With reports suggesting that there are 12 million illiterate adults in the UK and around 10% of the population aged 7 or under perhaps a written explanation on a sleeve isn’t always enough.

As our photographs show, the slab could be mistaken for a cookie by someone unaware the wider campaign.

Perhaps in these difficult financial times an opportunity exists for an entrepreneur to set up a panel consisting of the young, the old and the illiterate to test promotions to make sure such confusion is avoided in future.

Print continues to lose its SOV

BBC News reported yesterday that a majority of Americans now get their news online rather than through a newspaper. Over 40% of those under 50 years of age get their news predominantly from their mobile device.

While print publications (such as Conde Nast) await their possible saviour in the form of the iPad, they continue to innovate. The FT believes it will earn more through content revenue than print advertising this year and The New York Times will soon appear on displays in cafes. Advertising and promotions will be supported by bluetooth technology that will send out all manner of coupons for cheap things, like New York Times stock.

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