Thursday, April 23, 2009

Art Market Blog on monetary value of the decorative arts

April 22, 2009 Nicholas Forrest:

"The success of the recent Sculpture Objects and Functional Art fair (SOFA) in New York (April 16-19) is confirmation that the market for design art and decorative arts continues to gain strength. As artists continue to explore the boundaries of artistic production, the acceptance of functional objects and decorative arts as fine art continues to increase. What were once considered to be second rate artistic mediums are now beginning to be recognised as being as equally important and worthy of attention as the mediums that traditionally come under the fine art banner. Although shows such as SOFA focus on contemporary design and decorative arts, fine artists have been dabbling in alternative mediums for centuries the results of which have been considerably under-rated until now.

Picasso is one artist who wasn’t afraid to put down the paint brush and explore alternative mediums as is evident from the extensive variety of ceramics that he produced. Picasso produced thousands of ceramic works throughout his career most of which are just as appealing and unique as his paintings. Take, for example, the limited edition ceramic pitcher titled “Pichet Anse Prise” that Picasso designed in 1953 - one of which is currently being auctioned on igavel. Produced in an edition of 200 by Madoura Pottery, “Pichet Anse Prise” is a fantastic example of Picasso’s ability to adapt his technique and style to an object as mundane as a pitcher. When Picasso does his version of the pitcher, however, mundane is the last word one could use to describe the result.

Currently being auctioned on igavel are two ceramic works by Picasso the first of which is the ‘Owl” ceramic glazed pitcher and the second being the ‘Pichet Anse Prise’ pitcher that I mentioned above. My pick of the two is the ‘Pichet Anse Prise’ pitcher which had not received any bids at the time of writing. This object would still be a great buy even if it does reach the $2500-3500 estimate considering the last recorded sale of one of the edition was in November 2006 when Christies sold 128/200 for USD 3,152. With the increased interest in decorative arts and functional art I believe that the value of such objects can only increase..."

Forrest, N. "Catching the Dec Arts Express." April 22, 2009. Art Market Blog. http://artmarketblog.com/2009/04/22/catching-the-dec-arts-express-artmarketblogcom/

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