The NewCrits Podcast
For nearly a decade, Marc Spiegler served as the Global Director of Art Basel, helping shape one of the world’s most influential institutions in contemporary art. Earlier this year, his New York Times opinion piece on the challenges facing commercial galleries sparked widespread conversation about the future of the art market and the pressures confronting artists, dealers, and collectors alike. In this episode, Marc reflects on his path from journalism to Art Basel, the evolution of the global art world, and the lessons he took from leading an institution at the center of it all. We discuss his recent writing, the expansion of the international market, the role of technology and AI, the economics of art fairs, and why he believes galleries need to rethink how they build relationships with collectors. Along the way, Marc shares his perspective on financialization, speculation, collecting, and what a healthier, more sustainable art ecosystem could look like. This is a conversation about leadership, markets, and how the art world can continue to evolve without losing sight of the artists at its center. Art Galleries Are Not OK, NYT Opinion: https://www.nytimes.com/2026/06/19/opinion/art-basel-fairs-gallery-market.html?eafs_enabled=false [https://www.nytimes.com/2026/06/19/opinion/art-basel-fairs-gallery-market.html?eafs_enabled=false] Marc Spiegler Instagram: https://www.instagram.com/marcspiegler/?hl=en [https://www.instagram.com/marcspiegler/?hl=en] Hosted by Ajay Kurian Produced and Edited by Peter Groppe 00:00 Introduction 04:23 Growing up around artists and becoming a journalist 08:12 The unlikely path to leading Art Basel 12:20 Leadership lessons and managing a global institution 14:08 Expanding Art Basel: Asia, digital strategy, and the future 17:05 AI, technology, and why change is inevitable 23:00 His New York Times essay and why galleries need to think differently 28:14 Financialization, speculation, and the art market 34:30 Collectors, gatekeeping, and the changing role of galleries 39:40 Resale contracts and protecting artists from speculation 44:55 Why art fairs cost so much 51:35 How galleries actually benefit from participating in fairs 52:15 Auctions, speculation, and the evolution of the secondary market 58:55 Have collectors become today’s tastemakers? 1:08:00 Museums, collectors, and building the next generation of patrons 1:15:00 Why galleries are struggling today 1:23:00 Advice for young galleries navigating the current market 1:30:00 What a healthier art ecosystem could look like 1:36:00 Closing thoughts 00:00:00 Ajay Kurian: We’re living in an era of exhaustion, and artists and creators aren’t immune to this. We’re trying to figure it out, too. Welcome to spent from the new podcast. I’m your host, AJ Kurian, an artist, writer, and educator. I’ve been in the art world for nearly twenty years, shown all over the world, and taught at universities like Yale, Columbia, Parsons and Bard. The art world is a confusing and opaque place, but all of it tends to make a little more sense to me when I talk to one person at a time. Why do you think people blame you for this over financialization? 00:00:35 Marc Spiegler: I don’t know at all. I think it’s completely bogus. Like because. Because, I mean, first of all, like, like before I was running Art Basel and while I was running Art Basel, I was always against financialization. Like I’m literally was quoted in the New York Times talking about Art Basel, Miami Beach, the week of Art Basel, Miami Beach, and saying something like eighty percent of the art that’s sold next week will be worthless in twenty years. You know, and I wasn’t just talking about Art Basel, Miami Beach. I was talking about all of the twenty five fairs, but, you know, um, I was always very clear about the fact that people should buy art that they like, not buy art as an investment. You know, I mean, I had a funny thing, um, I wrote this article for the Business of Fashion column that I had last year. Um, and the title was something like we need to stop hyping art as an investment, you know, and, and, uh, Jamie Kenyon, your friend of mine wrote to me and said, I love this, this new mark unleashed. I’m like, dude, I’ve been saying this forever. You know, people are just noticing it now. But like, I was very clear about that. 00:01:39 Ajay Kurian: Mark Spiegler spent about a decade as the global director of Art Basel, which is to say for nearly ten years, he sat closer to the center of the art market’s money and power than most. He left that seat in twenty twenty two, and this past June did something he used to do in a prior life. He wrote an op ed for The New York Times, no less. Art galleries are not okay. The title alone got people talking. Many were infuriated that the man who’d spent the last ten years supposedly finalizing the art world was now saying it had gone too far. Around the same time, Pace Gallery let go of roughly fifty employees and fifty of their artists, and Marc Glimcher, the owner of pace, sat down with the times as well. Adam Lindemann, a collector and sometimes gallerist, responded with his own piece in Artnet, and journalist Barbara Pollock, among a handful of others, wrote a direct critique of Marc’s piece. We get into all of it. I first met Marc at a dinner in Basel in twenty sixteen, the year I did a solo booth with forty seven Canal. So I met him, in a sense as one of the artists inside the machine he was running. I’ll be honest about my expectations. I kind of assumed he’d be a bit of a douche. Instead, what I found was that Mark was quick and thoughtful and pretty fun to talk to, which is surprisingly rare at some of these fancy dinners. That wit can also function as a kind of armor. Mark has a beguiling matter of factness. He’ll answer you so plainly, so directly, that you can almost miss the moment he’s stepped neatly around the harder corners of a question. It’s disarming and it works. Going into this, I told myself I wouldn’t let him charm me away from pressing for an answer. I’ll let you be the judge, but I’d like to think I mostly held. We get into Mark’s past and where the art of it all started. Then we dip into the anxieties and inevitabilities of AI before getting to the meat of the conversation. Can you administer the market and still love the thing it sells for Mark? The answer is resoundingly yes. We cover his role in these machinations and how he sees things now, and what unquestioned truths need our critical scrutiny for the future, our worlds to thrive. This is spent. But Marc Spiegler isn’t. Marc, it’s great to have you. 00:04:22 Marc Spiegler: It’s great to be here. 00:04:23 Ajay Kurian: Thank you. Thank you for coming. Thank you for sitting down with us. Um, there’s a big story to tell here, but I think I want to start out very local and very simple, which is starting with like, how did you even get into art? What I know you started as a journalist and I know that that’s like kind of maybe the. 00:04:43 Marc Spiegler: It goes further back. It does actually, it goes way back. In fact, it goes back to my birth because my mother was, to the best of my knowledge, one of the only, if not the only surrealist papercutting artist that I’ve ever heard of. Voila. See you. Look. That look was perfect. Okay, so she was trained by her grandmother in Alsace to do paper cuts, which was a very classic folkloric art form. Right? Using tiny scissors. Almost like sewing scissors. Um, so she learned those techniques. And then living in Paris in the sixties, she fell into surrealism. Um, and then she was part of a group of, of surrealists in Chicago where I grew up eventually. Um, and so she brought kind of the, the aesthetic and the thinking of surrealism into, in combination with the techniques that she had learned as a child. So. So my mother was an artist and then my best friend Ellen growing up went on to become an artist. And then my best friend in my teen years, Yoni, also went on to be an artist. So I was always surrounded by artists, you know, like I was I grew up in Chicago and then moved to upstate New York. My parents split up, and then I went to school in Philadelphia and then England, and then I ended up in New York, and I lived with Yoni, who was an artist. And so I was always surrounded by people who were going to SVA for the most part. So I was kind of in that group. And then I moved to Chicago to do graduate school, and I was hanging out with my friend Ellen, who was also an artist. And so I was always among artists. Um, but I trained as a journalist. Right. 00:06:16 Ajay Kurian: You went to graduate school for journalism? 00:06:17 Marc Spiegler: Exactly. At northwestern. And so I came out and then I was what’s called a general assignment reporter, which means you write about whatever seems interesting. Um, and, uh, I did a few kind of like art reviews, but I would never call myself an art critic. That’s a whole other thing, you know? Um, but, you know, I wrote, I wrote a big story in ninety four, um, about what was going on at the MCA Chicago. And that was noticed by people in New York, in the art press, because it was very in-depth. And I was an investigative journalist. And so I was, I wasn’t really afraid to write what I saw, which was that there were real issues between the board and the museum directorship at the time. 00:06:54 Ajay Kurian: Which I don’t think has changed very much. 00:06:56 Marc Spiegler: I’m not close enough to that situation. 00:06:58 Ajay Kurian: I’m not even saying in terms of that museum. I just oh. 00:07:00 Marc Spiegler: In general, yes, in general, that is a topic, you know, and what I wrote about was power. You know, I had a column called Power Lines, which was about media, business and politics. And I saw there was a lot of overlap with the art world, especially at the collector level, of course. Um, and then Bruce Wolmer, who at the time was the editor in chief of Art in action, which at the time was the single most important publication in terms of news in the art world, brought me in as his Chicago correspondent. And then when I moved to Switzerland for personal reasons, I continued to write for them and then started to write for lots and lots of other people. So it was basically like art was always part of my life. Like I was one of those kids that was dragged to museums by my parents. And then when I was old enough to choose, continued to go, you know. Um, but, you know, I came into the art world sort of in fits and spurts and was really like, there was this moment in the early two thousand where the other half of my business, which was writing about tech, collapsed completely in the first tech crash in two thousand and two. And so suddenly the magazines and the company I was writing for, I was writing about and writing for went out of business. And so I wrote more and more about the art world. And then in two thousand and seven, I was asked to apply for the job of director at Art Basel. 00:08:12 Ajay Kurian: Okay, wait. Hold on. How do you go from writing about journalism to being asked to apply for a position like that? It feels like there would be more steps. 00:08:24 Marc Spiegler: Uh, yes. Um, it was definitely, um, an unexpected series of events. And I definitely was not the archetypal candidate that you would have for that job. I mean, starting with the fact that I didn’t have much management experience beyond sort of, you know, editing sections and having writers working for me. Right. Um, and the fact that I didn’t really speak German properly, certainly not as well as I speak English and French and the fact that I’m not Swiss. So for all those reasons, I was an unlikely candidate, and I think I benefited from the fact that some of the likely candidates just did an interview. Well. Um, so I went through several rounds of interviews. Um, and I did have some things though, uh, I had a strong connection to America, which of course is a very important market. I think that was seen as an, as a, as a benefit. I came with a plan. I wasn’t asked, but I came with sort of a ten point plan of things that I thought Art Basel. I did an analysis of where Art Basel was at that time and things I thought it should do. 00:09:22 Ajay Kurian: Before this. You had done a business degree at Wharton. 00:09:25 Marc Spiegler: No no no no no no no no no no no, I had I that was like in twenty twenty and that was in like twenty eighteen. So I’m. 00:09:34 Ajay Kurian: Kidding. 00:09:35 Marc Spiegler: No no. 00:09:35 Ajay Kurian: No no. Okay. 00:09:37 Marc Spiegler: I have a political science degree. I have what’s called a social science degree from University of Kent, which is just like what you do if you concentrate your courses in one year. When you do a year abroad, then have a BA in Political Science from Haverford. And then I got a master’s in journalism from northwestern. Okay. I did a one week like finance for Non-finance people thing at Wharton, but I am not in any way a trained business person. I am someone who learned entirely on the job. 00:10:07 Ajay Kurian: How on earth do you learn all that on the job? Like, it just seems like such a big risk to take on somebody. I mean, you must have had a goddamn good plan. 00:10:16 Marc Spiegler: I had I had some good ideas, and also, like I was, I came into a triumvirate, you know, they they had candidates with different skills. And so they put us together into a triumvirate with a lot of complementary skills. It didn’t last long like the Roman triumvirate. It was within within nine months we were a co-directorship. But I benefited from the fact that I didn’t take over the whole job right away. You know, like I at first was responsible for the things I was closest to. Meaning uh, sponsorship, um, media and digital. And then later, when we became a co-directorship, I also took on the VIP and galleries sections, you know, but like I was, I was very much, I was still very much learning on the job, you know, like it’s, it’s weird when you go from, you know, when you’re a freelance journalist, like five hundred bucks is a lot of money to you, you know, um, when you are running a major international art fair, like you shouldn’t be thinking about any sum less than like fifty thousand bucks because that’s your, that’s your staff’s job and you’re micromanaging them. So you have to, you know, like it’s the scale at which you operate changes radically. And that was the thing I needed to learn. You know, there was a lot of learning on the job. I mean, one of the things that I learned was that when you’re in that kind of position, um, you people are constantly looking for clues as to what’s going on. So like, if you’re, you know, just a very concrete example, like my, uh, Uh, wife at the time, uh, became pregnant very, very early on in my, in, in my time at Art Basel. We hadn’t had kids, we lost a couple. And so I was nervous, excited, but also super nervous to see what was going on. And there’s like that fourteen week window. And I realized after a while that my staff was picking up on this and they thought something bad was happening because they could see me being nervous. And so I it really was a lesson in sort of what it means to be in that position where sort of all eyes are on you, especially internally, of course, externally as well. 00:12:14 Ajay Kurian: Yeah. 00:12:15 Marc Spiegler: You know. 00:12:15 Ajay Kurian: Was there again, is this a purely learning on the job? Did you have mentors? Did you have someone that I had? 00:12:21 Marc Spiegler: You know, I would say so. I had been friends with Sam Keller, who was our predecessor for many years, and had given me a lot of insight into the job because I was one of the many people he would ask for advice sometimes. Um, and he, he gave me a lot of, of lessons to live by and, you know, um, advice when I needed it. So I would say Sam was the one who really gave me the most tools. I had some other mentors, people who had been in business, you know. But I tried to learn from my own mistakes and also from other people’s mistakes, you know? 00:12:52 Ajay Kurian: So if there is a piece of advice that rings out in your head from Sam, can you recall anything that sticks out? 00:13:01 Marc Spiegler: God, there were so many. I mean, I think I think one of them was always remember that your your clients are your product. In other words, that when you run an art fair, you don’t actually own any art. You’re dependent upon your clients bringing the best art possible in essence. So it’s, you know, what you’re selling as a platform to them. You’re selling to them the access to the collectors that you can bring to the environment you can build, but you’re also dependent upon them for working, you know. So it’s a little bit different than a classical industrial process where you produce something over here and then you own that thing, and then you sell it to other people, you know. Right, right. So it’s a much more tight knit relationship, you know. 00:13:44 Ajay Kurian: And in a way, it’s like where most economies like kind of most media economies have gone, right? 00:13:50 Marc Spiegler: I mean, actually every social media company, the client is the product basically, because we, for the sake of convenience and, and affirmation, constantly feed social media companies with content, which they then sell to other people and then sell advertising off of. I mean, we’re all incredible dupes here. 00:14:08 Ajay Kurian: Um, when you got, when you started working, uh, for the fair with fair. Yeah. What did you see as like the, the path for growth? Like, what did you see were the shortcomings of the fair at that time? What did you see? The art world was at that time. And what did you dream that this could turn into? 00:14:30 Marc Spiegler: Well, I mean, it was very clear that we needed to embrace Asia. You know, at the time, you know, Art Basel had only Basel and Miami Beach. Within the ecosystem at the time, freeze had only. London. Um, yeah, that’s right, only London. Um and so the fair world was very, very Western and we felt like there was a whole group of collectors and institutions and artists that was sitting there waiting to be included, that galleries from the West wanted to go there. Um, and we just thought like, this was not the art world. It was kind of the art Western world, you know? So that was interesting to me, although I was nervous about it because I didn’t have a lot of experience with Asia. I also felt digital was really important. Um, you know, my, I always, I was very close with a lot of, a lot of my friends, my friends who are not in art tend to be in tech. You know, some of my closest friends are people who are like digital artists or, or Silicon Valley executives. You know, my, my ex-wife’s most recent job was running the digital strategy for the entire country of Switzerland. So I was always like very much crazy job. It’s a crazy job. Yeah, she’s the smart one, you know? Um, but but I mean, it’s it’s really, uh, sort of digital is something that I breathe. Like I, you know, I have all, I think that you do suspicions of surveillance capitalism and of the impact that digital has in our lives, you know, but, you know, I really believe that digital was going to happen, you know, and so I, and I inherited at Art Basel, uh, a website that no one could explain the structure of to me a, you know, a real fear of the digital, you know, and so sometimes through personal connections, sometimes because I was well advised, sometimes because people came to us, you know, we were the first fair to be on Facebook. We were the first fair to be on Twitter. We, um, we were approached by Instagram to do what are now called influencer tours, you know, where they brought a lot of people to Miami, you know, um, to post about it. Um, you know, when the pandemic came. You know, we launched the online viewing rooms, which was the result of a project we’d been working on for a long time. So I’m, I’m, you know, with all the caveats that an intelligent person has, you know, I am a technophile. And I think it’s I mean, with technology, it’s basically, you know, I guess the two surfer, the two surfer metaphors are you’re either in the lineup or you’re on the beach. And once you’re in the lineup, you’re either, you know, ahead of the wave or getting rolled by it. And so obviously you want to be ahead of the wave. 00:17:05 Ajay Kurian: Got it. I’m thinking of, uh, I remember reading this book like my, my relationship to, to tech or the tech world is one where, you know, I’m not a Luddite, but I’m not. Um, those aren’t necessarily my people. I don’t think I necessarily spend that much time there, but the book, what Technology wants, do you remember that book I’m trying to remember? 00:17:30 Marc Spiegler: I did, I haven’t read it. 00:17:32 Ajay Kurian: The founder of wired wrote it. 00:17:34 Marc Spiegler: Oh probably. Uh. Nicholas Rossetto. Something like that. 00:17:38 Ajay Kurian: Possibly. I have to look it up again. But I remember that book being a pretty, pretty game changing in my head where there were kind of these internal theologies of like, what is coming? Yeah. Like you can run this scenario a million times. The light bulbs always going to be invented, right? It just depends like where and how and what are the specifics of it. And similarly, it feels like, um, the way that the digital took over was just like, you could prophecy it every single time because it’s, it’s just, it’s going to happen. 00:18:08 Marc Spiegler: Yeah. It’s just not, it’s not a question of, of what? It’s a question of how. Right. And the specifics of how things arrive. But I think once you unleash digital and once you apply Moore’s Law, which makes technology twice as powerful every eighteen months, by definition, things are going to move very quickly in a certain direction. 00:18:26 Ajay Kurian: Right? This is I know I’m going to make some people upset with this, but the Uh, I feel like this is also how I’m starting. I mean, it’s how I think about AI as well. Yeah. Like it’s inevitable. Yeah. I don’t, I think the people who are kind of pushing back and saying that we really need to have, uh, you know, a deeper analysis of how this affects our lives and what this means for an economy. Sure. By all means. I think there’s like some safeguarding that we need to do. Right. But also, yeah, it feels we’re already so deep in. 00:19:01 Marc Spiegler: Oh, I mean, I love how this is becoming like an art world episode of Hard Fork, you know? Um, it’s just a question of who’s going to play Kevin? Who’s going to play Casey? Um, but I mean, I think since we’re there anyway, I mean, what’s interesting is to me, when I see how AI is, is coming into the art world, you know, because for me, it’s, it’s quite. Bifurcated in classical ways that actually apply to technology has definitely come into the art world, which is that the artists, with all due suspicions, are embracing it. You know, you have people like, you know, Jon Rafman or Holly Herndon or Ian Chang, you know, really using AI to make things that would have been impossible before. Um, and in the art market, people seem to have no idea what to do with it except maybe like generate, uh, artist statements or generate catalog copy for auction houses or use it. Um. To research potential collectors or something. Like I think, I think, and this is typical in the sense that I think the artists who are interested in technology have tended to embrace it quickly and play with it the same way that this is what artists do best. Like they see something new and they’re like, wow, what could I do with this? This is what I love about artists, right? Whereas the art world, um, and we’ll get to this later when we talk about the market, I think for a group of people who think of themselves as avant garde is actually remarkably reactionary, remarkably afraid of change. Remarkably stuck in old patterns. Um, and I think, uh, AI is one of those things, and I fully agree with you like, like by the time you do a proper colloquium on the impact of AI and what it’s going to mean, like AI will have become twice as powerful. 00:20:46 Ajay Kurian: Exactly. 00:20:47 Marc Spiegler: Yeah. Um, you know, for those of you who want to geek out, I would refer you to a study called or an analysis in the form of a narrative called AI twenty twenty seven, which was written by a bunch of ex OpenAI people. Um, and they talk about how basically, and this was written about a year and a half ago, it came out in April twenty twenty five. And it basically predicts step by step how, uh, you know, by sometime next year, basically AI will take over and imperil the human race. There’s also that’s the race version. There’s also a slowed down version and the slowed down version, which is dependent upon governments working together in the interest of humanity, um, is not quite as bad. But what’s super interesting about this is how accurate it is. And in fact, in that narrative, there’s this moment where an AI agent, like, escapes the bounds of its instructions and hacks into a company that happened last week. Wow. When open, when an open AI agent hacked into Hugging Face’s servers. Um, so basically we’re actually six months ahead of schedule on that. So yeah. I mean, I just, I, I’m terrified by this, you know, as, as I have teenage children, I have no idea what to tell them in terms of their careers. Certainly don’t become a programmer, you know, which would have been the instruction three years ago. I’m like, you know, I don’t know. Massage therapist, uh, DJ, DJ like like horse, horse riding instructor, uh, hiking like like mountain guide, you know, wellness guru. 00:22:12 Ajay Kurian: Yeah. 00:22:12 Marc Spiegler: Wellness guru. Yeah, whatever. Um, you know, but the point is, uh, I mean, I’m terrified by it. And I think it’s, it’s, you know, the, this is like San Francisco utopian at its worst, where like, everyone is rushing to build a thing that’s so powerful that it can kill us all. You know, to prove something like they want to be the first one to do this, which is so weird and tech bro ish, truly. 00:22:37 Ajay Kurian: I mean, it takes me back to what you were saying about Kennedy and how when something starts, it just starts to vibrate and people start to adopt it and follow it. Um, to go back to that and to go back to this moment when you start with the fairies. Yeah. What did you start to see that you wanted to like? Okay. So Asia and the digital. These are the two things that you sort of marked as the ways that you saw the fair moving forward. Of course, people understand, and I myself understand that so many collectors find artists through art fairs. Um, but, you know, with your, with the piece that you recently wrote for the New York Times, it was really saying like, let’s make it a little bit more regional. Let’s scale back a little bit. Let’s tighten up. And for someone who is so like really at the forefront of expansionism. Yeah. What changed? 00:23:35 Marc Spiegler: So. A couple of things. One is it’s not people are acting like I kind of changed my view completely. The reality is, and I said this in the piece that whenever I would talk to younger galleries who were kind of on the up, like the, the gallery, you know, takes off and suddenly, like every art fair in the world is like, oh, that’s the hot gallery. We need to have them in our young sector. I would always say like, guys don’t do ten fairs. You don’t have enough artists for this. But also like you need to have a solid home base, you know? So I would always say like, focus on the market around you, like build up relationships with collectors. And the international component is also important, you know? Um, I think one of the things that’s, that’s really troubling to me is that there are two Overall dynamics, which I think should have grown the market and the market hasn’t grown really in the last fifteen years. Right. In terms of the total volume of sales. You know, one is the fact that there are many, many, many more rich people, meaning multibillionaires or semi millionaires, you know, whatever, like people who have the means to buy art have gone up existentially, you know, um, all over the world. And so by all rights, there should have been a real surge in collecting and there wasn’t. And the art world got more global. Yeah. Right. Like, like there are more museums, there are more biennials, there are more fairs. And yet the pie hasn’t gotten better. Bigger. It’s just gotten spread, right? Sure. So it just makes me feel like something doesn’t work in the approach that people are taking. You know, and I think there are two aspects to this. You know, one is I think, um, that. You need to build a core of collectors. Like most galleries have a small number of artists and a small number of collectors that really drive their business. And those artists may change over time. Those collectors may change over time. But in the end, you have to be very close to a key group of people you know. An auction house is dependent on hundreds of people buying actively in order to to hit their numbers. A gallery with the right ten or fifteen collectors can really kind of make its business run, you know? Um, and I think it’s hard to stay close to people that you never see. Right. So of course, it doesn’t necessarily have to be people who live in the same place as you. They can be on the same circuit. But I think, you know, my one of my concerns I have is that people were running all over the world, not just affairs, but also to biennials and like to the openings of their artists in some far flung place. You know, when you talk to gallerists, they have insane travel schedules. Like whenever someone was like, your travel schedule is insane. I was like, you have no idea, you know, because I’m not a gallerist who has to go to the opening of this biennial in New York. And then there are there are most important artists is having an opening of a museum in Tokyo, and then they need to be back for the opening of the of the season, you know, in London or whatever it is, you know. And, you know, I think people are kind of chasing this kind of magical collector base that they always feel like the grass is greener somewhere. And if they just travel enough, they’ll meet, they’ll build those collectors. And my sense is that it’s important to do the fairs that make sense for you, you know, where you feel like there’s a market for your artists or where you’re starting to feel like there’s a collector base, or where you have some people already collecting who can connect you, you know, within a new network. But I think in a situation where just statistically, there are more and more wealthy people in every major urban area who are not collecting, wouldn’t it make sense to focus on the people who you can actually see once a week, once a month, you know, and build that up. I mean, that’s the classic what’s called the Castelli model, you know, the Castelli model, um, for those who are not familiar is basically, you know, Leo was, you know, downtown and his artists were downtown. 00:27:35 Ajay Kurian: And speaking of the Leo Castelli. 00:27:37 Marc Spiegler: Leo Castelli. 00:27:38 Ajay Kurian: Represented some of the major, most major artists of the last, like sixty years. 00:27:42 Marc Spiegler: Most major white male artists in the last sixty years, to be very specific. Because if you see like the gallery, the team photo, it’s that, you know, but still, but he represented great, great, great artists. And, you know, if he was an old school European gentleman, like you would go down and have lunch with him and buy from him. And, and, you know, I think, um, I think, you know, people he came to understand their taste very well and he was able to educate them, you know, bring them into the world, etc.. And I think it’s hard to do that with these kind of fleeting interactions, you know. 00:28:14 Ajay Kurian: Um, why do you think people blame you for this over financialization? 00:28:18 Marc Spiegler: I don’t know at all. I think it’s completely bogus. Like because. Because. No, I mean, first of all, like, like before I was running Art Basel and while I was running Art Basel, I was always against financialization. Like I’m literally was quoted in the New York Times talking about Art Basel, Miami Beach, the week of Art Basel, Miami Beach, and saying something like eighty percent of the art that’s sold next week will be worthless in twenty years. You know, and I wasn’t just talking about Art Basel, Miami Beach. I was talking about all of the twenty five fairs. But, you know, um, I’ve always said, you know, I was, um, you know, I was always very clear about the fact that people should buy art that they like, not buy art as an investment, you know? I mean, I had a funny thing, um, I wrote this article for the Business of Fashion column that I had last year. Um, and the title was something like, we need to stop hyping art as an investment, you know, and, and, uh, Jamie Kenyon, your friend of mine wrote to me and said, I love this, this new mark unleashed. I’m like, dude, I’ve been saying this forever. You know, people are just noticing it now. But like, I was very clear about that. But it’s interesting that you bring it up because I’m not sure that it’s just coincidence that like this twenty five year period in which the art market didn’t grow and by all rights, it should have been growing, is also the period during which this intense financialization took place. And by that, I mean you had the rise and fall of art funds, you know, where people buy our portfolio of works and then they sell it within a specific horizon, just like a hedge fund, right? You had this huge effort on the private banking side for people to set up art departments. You know, you had a lot of people promoting art as an investment, you know, whether it was to their clients, you know, as advisors or to their wealth management clients, as wealth managers at banks, um, or to their clients, you know, within, within art funds. And the reality is it didn’t really work. You know, a lot of people who went into invest, um, you know, who went in to invest, uh, in the market? Didn’t didn’t do well. You know, the reality is, I think to, to really be a very, a good investor, like a ruthless, cold hearted investor, like you have to not actually care that much about art, right? You have to have access to information and you have to buy the art that you know, that you think is going to go up regardless of whether you like it or not, you know, and that’s a different thing. That’s like day trading where the company doesn’t matter. It’s like, what’s the momentum on this stock? You know, um, you know, and I think the people who ironically perhaps are not ironically, the people whose collections tended to really go up in value were the ones who bought very early and very bravely. Dave Hickey once said, and I’m going to completely this is a paraphrase, you know, don’t don’t go crazy in the comments because I misquoted him. He once said something like, when you pay too much for an artwork, you’re paying the price of your cowardice because you didn’t. You weren’t brave enough to buy it early. You know, same thing like one of one of my great, uh, one of the things I loved is this. During the recession that hit very soon after we started running our Basel, we brought Herb and Dorothy Vogel down. For those who don’t know, they were these legendary collectors from New York. She was a librarian. He was a postman. They lived in Stuyvesant Town. You know, when the National Gallery came to accept their donation, uh, it took, like, panel truck upon panel truck or a truck upon truck to bring it down. Wow. But it was like, it was like, just like crazy. Like all the great artists of the sixties and 70s, like, just kind of piled underneath their beds and in their cupboards. But they were, you know, they had very little money, you know. Um, and they were just, but then they were buying the things that they loved from artists who loved to sell to them because they were because of who they were. You know, the artists felt good about selling to them, I think, and cut deals for them and gave them payment plans. And so, but to come back to the point about financialization, in the process of writing this article, which was repeating a theme that I’d written about repeatedly. You know, this issue of financialization and how actually it’s not a great way to invest money because art has very high carrying costs and because it’s a market which isn’t very transparent and which has, uh, there’s this non liquidity factor, which is, you know, basically that, that when an artist’s market turns, it becomes almost impossible to sell the work, right? You know, in a way that’s not true for real estate or even for stocks, you know, unless you have like an Enron event or something like that. Right. 00:32:40 Ajay Kurian: Yeah. You can unload most things. 00:32:42 Marc Spiegler: But but the thing that came to me and I’m, I’m not I have no proof of this, but it’s, it’s kind of a sentiment and it feels right. Is that I also think that it’s possible that because the dialogue around art had become so much about financialization, that a lot of really great potential patrons, people who were culturally oriented, people who were fascinated by art, people who thought they were fortunate enough to have money and they wanted to support art, they wanted to get involved in the art world. Um, came in and really were kind of, you know, to use twenty twenty six wording. Like they got the ick, like they really were like, wow, this is not what I thought it was. Like, you know, you walk into this and you’re like, everyone’s talking about, you know, I’m going to ten X this, or we’re going to run that, or we’re going to flip this or, or, you know, or they’re not allowed to buy because nobody knows who they are because even though they, you know, like they, um, you know, because there was this fear of speculation, it, it created a situation where I think a lot of potential patients were really put off by the art world because of this dynamic, right? Both of financialization. And that’s triggered by financialization, which brings this kind of mistrust of new players. Like it’s kind of crazy. Like the art world is one of the few markets, if not the only market I know of where when someone with a lot of money comes to buy the work, the first question is whether or not you want to sell it to them as opposed to like, wow, this is a great new client. We should immediately, it’s a little bit, um, Like, uh. When you go to Italy, right the first time you’re in a restaurant, often, like the owner will come over and be like, we’ll recommend something to you. And if they like you, you’ll get your free coffee and maybe like a limoncello afterwards. And they’re like, wow, let’s make this person come back. You know, let’s, let’s get this person on the team, you know. 00:34:30 Ajay Kurian: But there’s a, I mean, to my mind, what I’ve seen in the last, you know, I’ve been in the art world, uh, approaching twenty years, fifteen years. I’ve never seen collectors have this much power. I’ve never seen. 00:34:43 Marc Spiegler: Oh, yeah. 00:34:44 Ajay Kurian: Dictate the culture more than a gallerist or more than a discourse around it. Anything. It’s like if they say that this artist is important, then other people start buying the work and it becomes sort of foundational to a museum’s collection. And these things kind of trickle upwards. 00:35:02 Marc Spiegler: Or they curate shows. 00:35:03 Ajay Kurian: Or they curate shows. 00:35:04 Marc Spiegler: Or they have a private museum. 00:35:05 Ajay Kurian: And I’m like, I’m not even opposed to those things. It’s just that the, the tastemaking and like the, the kind of blatant vapidity of much of it is new and it feels like something that’s like, I don’t, I don’t really understand like how they’ve taken so much power. Besides, besides the fact they have the money. 00:35:29 Marc Spiegler: I have some theories there. Well, they always have the money. 00:35:31 Ajay Kurian: Yeah, exactly. They always have the money. 00:35:33 Marc Spiegler: So, um, as you can imagine, as someone who’s, who’s, I assume, probably digested a lot of my previous writings. And, you know, in the recent past, the New York Times piece had much more complex complexity to it. And of course, because it’s a mainstream publication and they’re not going to give me, you know, four thousand words. Um, some, some of that got got. 00:35:54 Ajay Kurian: Condensed. 00:35:55 Marc Spiegler: Got condensed. Um, one of the themes that I wanted to explore and there just wasn’t room to do it in the right way is precisely the shift you’re talking about, you know, and, and so There was a great essay a long time ago. Do you remember Edward Winkleman, the gallerist from. Okay, so Ed Winkleman was a great gallerist, um, in Chelsea. Super smart guy. He wrote this essay. I’m going to say it’s about ten years ago. It was called The Garden of Forking Paths. And he talked about, um, sort of how the relationship between galleries and artists, but also collectors and galleries had changed. And so, um, the point he made in that was that everyone assumed that what digital would do would be to, to disintermediate the galleries that would take them out of the sales process, right? That basically everybody, you know, artists would put stuff on platforms, they would sell it and that kind of thing. And that’s actually not been the effect. You know, gallerists are still there. Artists still want to work with galleries. They still want to show with galleries. They still are dependent upon galleries to do things like bring them to fairs and fund their biennial appearances and fund their museum shows and that kind of thing. But what did definitely happen is that the gallerists lost control of both access to information about the artist and access to the artists themselves. Right. What digital does is it allows collectors to rapidly inform themselves, well informed or not, but to feel informed about an artist without having to do what you used to have to do, which was to go to the gallery and say, hey, can I look at your your archive on this artist? Do you remember the old days when you would go to fairs and, and like, literally there would be a brochure like this thick about every artist on the stand. You know, like that was the control they had because they had all the information, they had all the catalogues. Right. And likewise, you know, nowadays you can just DM an artist like the Instagram functions as like the world’s phonebook, right? You can do an artist sometimes you see stuff that’s being that’s in the studio that’s not even released yet, you know? Um, and so basically what the digital has done is it has allowed collectors to go around the galleries in a lot of ways. You know, so on the one hand, they have a lot of money and money is important, you know, but the last real power that a gallery has in relationship to collectors is to decide whether or not to sell to them. 00:38:24 Ajay Kurian: Right. Which by I suppose most people would just call that gatekeeping. 00:38:30 Marc Spiegler: Yeah. I mean, certainly for collectors to hold. No, it feels like gatekeeping. 00:38:34 Ajay Kurian: Right? 00:38:34 Marc Spiegler: Others would say actually they’re protecting their artists from speculation. 00:38:38 Ajay Kurian: And I think both are valid. 00:38:40 Marc Spiegler: I think both are valid. I think I think both are totally valid. I think I think when I, you know, I have artist friends who suddenly have their work being flipped, they feel like it’s the gallerists fault for not doing it. And, you know, there’s this famous quote, uh, from James Brolin, you know, on the Felix podcast talking about how he’s, again, I don’t have the perfect quote, but it’s something like, like he’s never he’s he’s it’s he says something like, I’ve never subjugated myself as much as when I’m trying to get a work from a gallerist, you know, this is like an Academy Award nominee or even winner, you know, but the point is, um, again, like where you stand depends on where you sit. If you’re in the collector’s chair and you’re not getting access to the work, you feel like it’s wrong, you know, and if you’re in the, you know, if you’re the artist and the work is getting flipped, you feel like the gallerist made a mistake, you know, and it’s, it’s tough because usually, you know, the work that’s most Flippable is also by one of the few artists who are really making a lot of money for the gallery. So that that relationship is, you know, has to be defended at all costs because otherwise people will go to another gallery, you know. 00:39:41 Ajay Kurian: And why I mean, you’ve already you’ve said this before in other pieces, but, um, stipulating sort of resale mechanisms within a contract. Like why hasn’t that ever, I can tell. 00:39:53 Marc Spiegler: You. 00:39:54 Ajay Kurian: There’s. 00:39:54 Marc Spiegler: Been a, I got a lot of feedback about my piece, you know, um, negative and positive public, not so public, you know. And I think this comes with the territory. I think when you when you come forward with a piece like that and you, you know, um, and which was driven from my side by the sense that people were not taking seriously how much trouble galleries are having right now in terms of finding workable business models and surviving in this environment and how important that is to the art world beyond just the galleries, individual survival as business entities or not, you know? Um, so the one thing everybody agreed on is resale contracts are not happening. Really, really. 00:40:36 Ajay Kurian: That’s disappointing. 00:40:38 Marc Spiegler: Everyone seems to feel like it’s wrongheaded, you know, to, to do this, although it’s actually law in some states and countries. 00:40:49 Ajay Kurian: We just need to start doing it. I think like to me, I feel like everybody believes that there’s a code where, okay, well, if somebody does that, they’re just going to go to another gallery. This is how billionaires treated Mamdani’s wealth tax that they’re all going to up and leave. They’re not going to fucking leave. They’re gonna stay. Some of them might leave, some of them might go to Miami or do whatever they need to do. But I would say seventy percent are going to stay. And I think the same holds true when you’re you’re developing something that nobody does. And that’s not like the general practice, right? I think a lot of people are going to say that this doesn’t make any sense until it does. 00:41:29 Marc Spiegler: Right. Well, I think part of it has to do with the fact that. Because no one needs to own art. It’s not a human need like lodging or food, you know, um, there’s this sense that like every deal is very fragile and that anything, anything that could in any way shift the collectors momentum or their thinking, or make them feel nervous. Puts the deal at risk, you know? 00:42:05 Ajay Kurian: But you’ve seen so many things that I think would provide an alternative perspective on that, because you can cultivate desire in ways that make something so deeply attractive that it has like gravitational pull. 00:42:21 Marc Spiegler: Yeah. 00:42:22 Ajay Kurian: And I don’t think it necessarily ends with the fragility of that relationship. It’s like, okay, well, maybe this isn’t it, but there are other ways in which. 00:42:29 Marc Spiegler: In a weird way, it’s kind of it’s, it’s kind of like the discussion about prenups. Like there are people who feel like a prenup is not romantic, but there are other people who feel like a prenup is just a natural way to create a sense of security within the relationship. Totally. You know, so in a way, like resale rights, it’s resale rights are kind of like prenups. It’s like, it’s a recognition of the fact that things can go wrong and relationships can change, and that there’s a certain set of rules that you’re agreeing to in that eventuality. Right. 00:42:53 Ajay Kurian: I think that’s great. 00:42:54 Marc Spiegler: And like. 00:42:54 Ajay Kurian: A lot. 00:42:55 Marc Spiegler: Of, I like. I also think, and again, this is never going to happen because again, it would require more contractual relationships, you know? Um, I also think that there should be something like the resale rights system that you have in, in football or soccer, depending on which side of the Atlantic you’re on. Um, you know, where like when you develop a great player and they go to another team, you get something for that. Right. 00:43:18 Ajay Kurian: Right, right. 00:43:19 Marc Spiegler: Um, I just think it’s in the same way that I think technology has been scary to people. Um, anything which sort of changes the relationship between collectors and galleries and, and to your point, you know, because people feel like collectors are more powerful than ever, they’re even more afraid to try something which would, which would drive them. And in a weird way, like, I think it’s the kind of thing where it only works if everybody does it. Yeah. You know, and that’s going to be super hard to do. Um, But, you know, just because we don’t have a solution, because nobody thinks resale contracts are a viable option, doesn’t mean we don’t have a problem. And the problem is the following. The problem is that because people are afraid of collectors, they don’t know flipping work. They meet these collectors with mistrust, and those collectors either end up going to another gallery or to the auction houses, where as long as their check clears, everything is cool, right? And so, you know, I’m very happy to engage in any sort of discussion about other innovations that will allow galleries to feel more at home with rapidly embracing new collectors that will somehow mitigate this risk, this fear of speculation. Um, because I think it’s, I think it’s one of the reasons why the art market hasn’t grown in the way that it should have in this period where again, it both globalized internally, but also, you know, didn’t leverage this enormous growth and very high end wealth. 00:44:55 Ajay Kurian: Okay. So before we go down that path, I want to return to. I think there’s also a sense that art fairs for galleries have gotten inordinately expensive, and that’s something that you were in charge of. So I’d like to know kind of transparently, like how have the costs increased and how have they kept tied with sort of everything else that’s going on? Because I think from the outside looking in, people see that and they’re like, oh, you’re gutting galleries. This is why they’re closing, because it’s like one hundred thousand dollars for a booth, right? If I think if people had a little bit better understanding of like, what, how, why are these prices so high? Mhm. 00:45:39 Marc Spiegler: I mean, there is a huge degree of inflation involved with everything that that an art fair does, you know, whether it’s shipping walls, you know, whether it’s employing people, whether it’s building up the kind of robust digital infrastructure that people expect an art fair to have, and also the programs and that kind of thing. Um, I think it’s important for people to understand that. When it comes to the galleries, art fairs are not a margin business. They’re a volume business. Art fairs do not make double digit profits on their on stands, you know, at least not in my experience. Um, they, they do that with sponsorships, for example, where there are fewer in the contracts are bigger and the but, but the way that art fairs make money and I think this applies for almost every fair, um, is they have, they make a small amount of, or a relatively small amount of money on a lot of booths. Right. So it’s not that like the art fairs are like, oh, we’re suddenly going to make forty percent profit on every booth. That never happens. It’s more like our costs are going up. We need to account for that. You know, as we know, there’s been enormous inflation in many in many things. Everything involving international travel has gotten more expensive. Sure. Um, and art fairs. But the other thing that I would say is. A lot of the costs for a gallery to do art fairs have nothing to do with the art fairs themselves, in the sense that they’re not set by the fair. I’ll give you an example. Actually, it ties back to this issue. Mhm. At a certain point, we introduced a sliding scale for the booths at Art Basel, the effect of which was that the bigger your booth was. The more you paid per square meter. So it’s actually the opposite of a volume discount. 00:47:32 Ajay Kurian: I was I was like. 00:47:34 Marc Spiegler: It’s backwards. It’s, it’s it’s it’s progressive taxation. Yeah. Right. The more income you make, the higher tax you pay, the bigger your booth is, which by definition means that you’re a bigger gallery. You have, you know, you’re, you’re more established, right? Um, the more you pay per square meter. Interesting. And so when we did that, um, I took the preemptive move because I knew I was going to get asked of reaching out to a lot of the major galleries and saying, like, we’re going to come through with this. I want to explain it to you and I’d appreciate your support. When the press comes and says, but what about those galleries suddenly have to pay more? So I remember, uh. I think I can share the name. I called Gordon Veneklasen, you know, from Michael Werner Front Row Gallery at Art Basel. I said, hey, Gordon, you know, like, I want to explain this to you. Um, and I’d appreciate your support. He said, you know, Marc, you know, it’s going to cost us ten thousand bucks more, you know, and we’re paying, you know, two hundred and fifty to three thousand bucks in all to do Basel. And that’s not the square meters, right? That’s shipping and handling and a dinner for galleries and, you know, six nights of hotels for the team. And so a lot of the costs that are tied to the fair are actually beyond the fair’s control. So it’s part of a broader economy where hotel prices have gone up, as we all know, where airfare has gone up, where shipping has gone up enormously even before the war and the price of oil spiking. So but yes, of course, art fair expenses, especially if you do a lot of fairs, are an enormous part of the gallery’s expense. And that’s why I would advocate that people, um, think about their strategy and think about like, are you doing more fairs than you actually have time to prepare for and follow up on, you know? 00:49:16 Ajay Kurian: Yeah. I mean, I will say like, so I, I’m represented by forty seven Canal and Oliver, who, uh, is the owner of forty seven. He’s always been pretty fiscally conservative in that regard. Like they’ve never done that many fairs. And like when they started doing more, it was very specific. It was Basel, Miami, Basel, Basel, and now they do Basel, Hong Kong. Yeah. And I don’t think they do frieze anymore. I think they just do. 00:49:45 Marc Spiegler: And they occasionally do Chicago and things like that. Like when it makes sense. 00:49:49 Ajay Kurian: I think like they don’t have a real like they’re moving to Chelsea right now. They don’t have a space. So they decided to do more fairs this year. 00:49:54 Marc Spiegler: It makes sense, you know, because you need to put things out there. Exactly. Um, you know, I think that’s what’s interesting is, is in the last, even just before the pandemic already when the market was still pretty strong, I had more and more gallerists come up and say, hey, you know, I sat down with my accountant and we started running the numbers and trying to figure out which fair makes sense. And we realized, and I think the one thing I would say about fairs is that it’s very hard to measure the impact of a fair, you know, if you say, we spent this much money and we sold this much work during the fair, and that’s like, that’s, you know, is it, is it, you know, a plus or a minus? That’s very reductive. The reality is that that when collectors know that a certain artist’s work is coming to a fair, they want to buy if they’re interested, they’re going to try to buy it before it gets there, right? Because they have their relationship. And in the same way, a gallery owner at the end of the fair will have sold a certain number of works. But there’s things which are on reserve, which I think you have to attribute to the fair existence. And then even there are collectors, they meet for the first time there who then become interested, who ideally then come to see the gallery in person, who then follow, you know, they’re like, oh, you know, he has a show. I want to go see it. Right, right, right. So, you know, I think it’s very hard to measure or let’s say you have to have. A pretty broad way of thinking about what the impact of fairs are on your program. And I think if you stop doing fairs at all, which is never something I would advocate, you know, um, I don’t know where your pipeline is going to come from. 00:51:36 Ajay Kurian: Yeah. You said thirty percent of new collectors are found through art fairs. 00:51:41 Marc Spiegler: I didn’t say that, but that’s a number. 00:51:42 Ajay Kurian: That was that was a statistic. 00:51:43 Marc Spiegler: That’s a statistic that was floating around. Yeah. I mean, I think that’s that’s probably accurate. I’m surprised. And I think probably for some people it’s much higher. And given the fact that, you know, there’s as far as I know, no gallery neighborhood in the world where the footfall has increased since the pandemic, it’s probably going to be more and more true. It’s basically like if people are not coming into the gallery as much, you’re going to find new collectors either through your own social networks, through fairs, or through them coming to you over media, over social media. 00:52:12 Ajay Kurian: Right. Mhm. Philippe. 00:52:16 Marc Spiegler: Uh. 00:52:17 Ajay Kurian: You had, uh, I sort of knew of Philippe, but I was watching an interview with you, and you were addressing Philippe’s impact on auctions today. Yeah. Um, because he was sort of integral in bringing young artists to auction. 00:52:35 Marc Spiegler: Right? Um, I mean, this is second hand stuff because I wasn’t even in the art world at the time that started. But in the mid nineties, the. And I’ve checked this with people who were were very much at the center of the auction world at the time in the nineties. I think what Phillips innovation was, was this idea that a work didn’t have to be ten years old before it came to auction, that you could bring something relatively new into auction. And of course, um, you know, he was correct. And he did his job, which just to understand where the market is and what’s possible within it. 00:53:06 Ajay Kurian: It’s funny that you say innovation. Like I, I imagine that there’s some people that would say what Phillips corruption was. 00:53:14 Marc Spiegler: I mean, if you want to use him, I mean, innovation, I mean, the innovation, the creation of weapons is also an innovation. And that’s where my mom was an innovation. You know. 00:53:22 Ajay Kurian: That’s an. 00:53:23 Marc Spiegler: Amoral word I’m using. Yeah. It literally just means new. Exactly. And this was a new way of thinking, you know, if you want to use a more modern term, you could say his disruption was this. But the point is that to the best of my secondhand knowledge. You know, Philippe was someone who really said, you know, why? Why do we need to wait so long if there’s a market for this now, you know. And then the kind of end point of this was this moment, I would say in the mid aughts, you know, where where you had artists, especially Chinese artists coming into auction straight out of the studio, you know, um, you know, or you could say Damien Hirst, you know, with his sale where like everything was coming out of his studio. Right. So that’s kind of. 00:54:03 Ajay Kurian: That was, I mean, that was kind of a brilliant marketing initiative on his end, which. 00:54:08 Marc Spiegler: Immediately preceded the crash of the downfall of Lehman Brothers. Like, like, literally, like all happened within the same week or something, you know, but, but these, these two events are not tied to each other. But the point is, um, yeah, I mean, I think this, this created this notion that relatively new work that, you know, fresh paint work or wet paint work can come into auction. And eventually that leads to these kind of speculative cycles and all these kinds of things, you know, um, so, you know, I think that’s and again, you know, I think that’s that led to this notion of financialization of the art world, which has had all the effects that we’ve talked about, none of which I think are particularly great, because I think there are I remember talking to I think it was Louis Gouzer for a piece I did for Business of Fashion, you know, and, and, um, he was saying that there were, you know, we were talking about where the market was. And he was saying on the one hand, there’s this at the high end, there’s like almost infinite possibility, you know, and we see that, we see that like the auctions just came out with these incredible results for, for the first half, you know, and most of that is concentrated in a very small number of brand name super blue chip artworks being sold to a very small number of people, because that’s all. But, you know, um, you know, and other people told me that they felt like a lot of people were pausing because they realized that a lot of the work that they bought as investments actually wasn’t a good investment. And they were kind of like, maybe this isn’t a game that I want to play. Yeah. You know. 00:55:40 Ajay Kurian: And I’ve talked to a handful of galleries that have said the same thing. 00:55:43 Marc Spiegler: I mean, I think it’s I mean, I remember, um, on the eve of, of Frieze Seoul a couple of years ago, I had dinner with a great gallerist who told me they were concerned because they felt like in the Korean market, a lot of people, young people with money had come in and started to invest. And like they all. Were realizing that they hadn’t worked out. You know, the impact is a little bit like, you know, if you go to a party where people are taking a lot of cocaine and they all take it at the same time, suddenly, like an hour and a half later, the room gets really bitchy. You know, for the record, not my drug, but like, but, you know, we’ve all been there or many of us have been there. And it’s kind of this thing where like, the market gets really high on its own supply. And then there’s this kind of crash. And I think, I think the, the, the counterpoint to that is, um. To go more locavore, you know, like I think people need to build markets collector by collector hand to hand, eating with people, understanding them, becoming part of their lives. And you see some galleries that do this well, you know, you see these galleries who, who really are the gallerists are really part of the lives, you know, personal lives, professional lives, intellectual lives of their collectors, you know, and I think that’s a model that works. Again, it doesn’t take that many collectors and the money is out there, right? 00:57:06 Ajay Kurian: Money is. 00:57:06 Marc Spiegler: I think I think the the, the thing about this locavore approach is, is that you focus on the people with whom you can have a running relationship, you know, because you live in the same city or you’re, you’re seeing them all the time, you know, and you really try to pull them close to you, pull them close to your artists, get them excited about your program. And I think that’s, that’s an approach that can work. So I want to be super clear, I am not against a global art market. I’m not against expansionism. I think I desperately want the art market to expand, because that means more artists can produce more work and actually pay rent and have vacations and, you know, not retire broke and own property and all these things that I think artists who are some of the most important parts of our members of our society should be able to live from what they’re doing. I mean, we, you know, for everyone who read Josh Klein’s essay, it’s basically, you know, the, the Tldr version is even a super successful artist in New York is going to struggle because of the realities of New York, you know? Right. Um, and so I think we should have a more globalized art market, but I think it gets built locally and then gets activated globally. And so the role of the art fairs, I think, is not to create new collectors. That is the job of galleries and curators and museums. They are in the trenches. They represent a small group of artists, you know. I mean, an art fair doesn’t represent the four thousand artists who come to the show, you know? So I think and I think galleries are positioned to they have the information, they know the artists, they can give access, they can build the narratives around the artists work. And so the job of an art fair is to convene collectors. It is not to create collectors. 00:58:59 Ajay Kurian:
25 episodios
Comentarios
0Sé la primera persona en comentar
¡Regístrate ahora y únete a la comunidad de The NewCrits Podcast!