So it seems the Andy Warhol Foundation is unloading some 20,000 artworks of Andy's in the early spring of next year in hopes to expand their $250m endowment fund for museums supporting new innovative artists as well as giving their sub-foundation, Creative Capital, a deeper well. The photos, silkscreens, paintings, instillations, drawings are expected to add an additional $100m to the fund's flexibility.
A Wall Street Journal article states, "this selloff could significantly recalibrate his prices because the foundation is putting so many pieces into broader circulation for the first time." 'Recalibrate' is such a nice way of saying this move will potentially tank the price value of any Warhol in any collection today! The principles of supply and demand are about to be tested.
Forbes recently had an editorial offering the opinion that outsourcing, i.e. having the ability to create more for less money, signifies that "more products mean a higher standard of living." Now remove from your mind that the author is referring to things like iPhones, and apply that statement to art and more directly to Andy's works. Also remove the implications of this statement can only be referred to outsourcing! So, more of Andy's artworks mean a higher standard of living (for those lucky enough to afford them). Maybe. Keep in mind that these works are not the masterworks of Campbell's soup-cans, but are the in-between sketches and ideas for the larger works. That's not to say they are of any less quality just that they are lesser known. Maybe the better way to phrase it is, when applied to art, the 'more products, if they're good, mean a higher standard of living.'
Christies will certainly have its hands full next spring!
A Wall Street Journal article states, "this selloff could significantly recalibrate his prices because the foundation is putting so many pieces into broader circulation for the first time." 'Recalibrate' is such a nice way of saying this move will potentially tank the price value of any Warhol in any collection today! The principles of supply and demand are about to be tested.
Forbes recently had an editorial offering the opinion that outsourcing, i.e. having the ability to create more for less money, signifies that "more products mean a higher standard of living." Now remove from your mind that the author is referring to things like iPhones, and apply that statement to art and more directly to Andy's works. Also remove the implications of this statement can only be referred to outsourcing! So, more of Andy's artworks mean a higher standard of living (for those lucky enough to afford them). Maybe. Keep in mind that these works are not the masterworks of Campbell's soup-cans, but are the in-between sketches and ideas for the larger works. That's not to say they are of any less quality just that they are lesser known. Maybe the better way to phrase it is, when applied to art, the 'more products, if they're good, mean a higher standard of living.'
Christies will certainly have its hands full next spring!
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