SEOUL June 11 (SayArt) - In late April, David Saleh, a prominent New York-based artist, moved to Gladstone, a gallery network with establishments in New York, Brussels, and Seoul. Renowned artists often associate themselves with multiple galleries, a trend that has been growing notably over the past year. For example, Pace Gallery welcomed six new artists, Gagosian nine, Hauser & Wirth five, and David Zwirner three last year. 

▲ Gerhard Richter Courtesy of David Zwirner.

Perhaps the most shocking transfer news from the art world was modern art's "king," Gerhard Richter's, departure from Lian Goodman after 37 years. Richter joined the ranks of David Zwirner, one of the world's "big four," citing his longstanding friendship with Zwirner's father, Rudolph. A 91-year-old virtuoso, Richter retired in 2017 but held solo exhibitions in New York and the New Art Museum in Berlin soon after his transfer, drawing significant attention from collectors.

 

▲ Gerhard Richter, Birkenau, 2014, (detail). Gerhard Richter Kunststiftung @ Gerhard Richter Kunststiftung.

Following Richter, the U.S. activist photographer Nann Goldin also stunned the art world by moving from Marian Goodman to Gagosian. The latter, which operates the world's largest number of branches, continued to contract women and black artists like Stanley Whitney, Rick Law, Diana Lawson, and Jade Padazutimi during the pandemic. These 'Red Chip' rising stars are being sought after alongside veteran masters.

▲ Yoo Youngkuk, Photo by SayArt Maria kim.

Prominent foreign galleries have also shown keen interest in Korean artists. Ahead of Art Basel Hong Kong in March, Faith signed an exclusive contract with the late master of Korean abstract painting, Yoo Youngkuk. Additionally, Perotang recruited Bae Lee and Shim Moon Seup, Faith brought in Lee Ufan and Lee Kun Yong, and Lehman Muffin added Blanket and Do Ho Suh. A recent sale of a Yoo Youngkuk work for over 1 billion won has highlighted the marketing power of an exclusive contract with a famed gallery.

 

▲ Bae Lee, Photo by SayArt Maria kim. ▲ Lee Ufan, Photo by SayArt Maria kim.

Peter Doig, the "painter of painters," whose auction exceeded 30 billion won, recently parted ways with his exclusive gallery, Michael Werner, and independently held an exhibition at the Kotold Gallery in London. This has intensified the anticipation around who will sign this high-profile artist next.

The surge in artist transfers during this economic downturn is largely due to the fact that 'Blue Chip' artists retain their market value while 'Red Chip' artists often see a significant drop and face trading difficulties. The global art community is watching these shifts closely, keen to understand the implications of this depression-induced movement.

Sayart.net
Maria Kim, sayart2022@gmail.com