There's a line in a song: "All the freaky people make the beauty of the world." And then there's this: a blog taking photos of Wal-Mart patrons. Cruel? Yes. Hysterical? Absolutely. But fascinating. And somehow, art.
Things appear to be looking up for the art market. After five months of consecutive falls, prices are finally beginning to rise again as buyers become more confident and auction houses get a bit more realistic about prices. The renewed confidence appears to be having a positive effect on the auction houses themselves: Shares of Sotheby's have nearly tripled over the last five months. And galleries seem to be more bullish, too. Earlier this week, it was reported that Larry Gagosian is planning to add to his chain of eight galleries with a location in Athens. But not every segment of the market is bouncing back. Experts say that areas that became over-inflated in recent years due to "speculative bidding" are still losing value. Steve Cohen isn't out of the woods just yet, in other words. [Wealth Bulletin]
Writer Fred Bernstein took his 7-year-old twins to P.S. 1 in Queens recently to take in a little contemporary art. The problem was that he missed the tiny sign at the entrance which warned that the galleries contained "graphic imagery," which meant he had to usher his sons out of the room when he realized one of the exhibits contained "a giant photo of Katie Couric delivering the evening news with her genitalia exposed." Really? No, not really. It's Couric's head attached to Britney Spears' body. But who knew the museum was home to such a cultural treasure? If you're not working today—or you are at work, but you have a boss who appreciates the boundary-pushing nature of contemporary art—the photo can be seen in all its glory here. [NYT/City Room]
Left: Andrew Hearst imagines what a shotgun merger between Out and Car & Driver might look like. Right: The work of artist Nate Page, who carves out layers of fashion magazines to "reveal the rainbow of colors behind the images," an artistic style, we're guessing, that's become considerably more difficult now that most glossies have been sliced in half. [Vanity Fair, PSFK]
Annie Leibovitz has been facing serious financial problems for a number of months now. But things took a turn for the worse last week when Leibovitz was served with a suit by the financial firm that lent her $24 million earlier this year, and she now faces the grim prospect she'll eventually have to relinquish control of her real estate holdings and the rights to her archive of photographs. The big, unanswered question, though, is where, exactly, all the money went. On top of the $24 million she borrowed from Art Capital Group, she takes home an estimated $2 million-a-year salary from Condé Nast, and collects millions for her advertising work. Is she just really bad at managing her money? Or is it something else? Bloomberg News' Katya Kazakina, who suggests Leibovitz might be better off filing for bankruptcy rather than fight her creditors in court, looks into another possible money pit.
Ever hear of the Nicholas Roerich Museum? It's located on the Upper West Side. A tourist attraction it is not: The museum says it gets just 25 visitors a day. And yet "brazen art thieves" have hit the museum in two separate heists in recent weeks. Call us misguided, but "brazen" is storming into the Met with a dozen machine gun-toting friends and pulling a bunch of Van Goghs from the walls. This just suggests that New York City's art thieves have gotten lazy. Or maybe they've been busy transitioning to the booming business of bank robberies? [NYP]
The Way We Live Now: With bells on. Jingle bells. Sweaty, stank jingle bells. They get that way when you wear em in July. But the economy demands Christmas shopping now. I want a hideous Jeff Koons diamond sculpture, Santa!
Hedge fund manager Richard Perry and his fashion-designer wife, Lisa Perry, live in a 17-room penthouse on Sutton Place. They're also big-time modern art collectors and home design obsessives. (Their Manhattan apartment earned a 10-page spread in Vogue a few years ago; in the Hamptons, they may own the only house that has a pool installed in its dining room.) But their art collection has landed the couple in a bit of trouble. The Perrys installed a green stainless-steel "diamond" sculpture by Jeff Koons, which they purchased for $2.3 million in 2005, on the terrace of their Manhattan pad. (A crane was required to put it there.) Not only do the couple's neighbors totally despise the piece ("I think it's as ugly as it comes," says one), some are now complaining that it's blinding them:
