The Convergence of Art and Finance

The Convergence of Art and Finance


If one were seeking unique​ curses ​to place upon ⁣enemies, “May you be profiled by Patrick Radden Keefe”⁢ would ⁣be​ an especially potent choice. Keefe, a staff writer for The New ‌Yorker and author, has written with devastating precision about various individuals, including the Sacklers, a wealthy family who profited from America’s opioid epidemic; Joaquín Guzmán Loera, the Mexican drug-cartel kingpin known as “El⁤ Chapo”; and Gerry Adams, the Irish Republican ⁣activist turned politician.

In comparison to these subjects, Larry Gagosian, the global art-market king and ‌the focus of Keefe’s latest profile, receives‌ relatively lenient treatment. While acknowledging⁤ that Gagosian’s peers often use carnivorous analogies to describe him ​(“a tiger, a shark, a snake”), Keefe‌ vividly portrays a man‌ who played a significant role in ⁤transforming‌ fine art into an asset class. Gagosian reduced the world’s⁣ greatest works of art to mere “stock lists, ‌packing orders,‌ lines on a piece of paper,” treating them as valuables to ‍be stored in Swiss vaults rather⁣ than ⁣appreciated or ‍enjoyed. However, Gagosian also emerges as someone who genuinely cares about art and has ​made substantial contributions to its development and promotion over the past fifty years.

This profile reminded me of one of my⁣ favorite exhibitions, “The Steins Collect,” ​which I ⁣had the pleasure of seeing at the ​Metropolitan Museum of Art in New York⁤ a decade ago. The exhibition showcased stunning works, including⁣ canvases by Matisse and​ Picasso. What made it ‌particularly fascinating ‌was the presentation of the artists in dialogue with Gertrude Stein and her siblings,⁣ who, as collectors with both financial⁤ resources and an⁤ interest in innovative works, exerted ⁣significant influence‌ over ‍emerging movements like Cubism. Although the exhibition has long since concluded, you can gain some insight into its themes by reading the‍ accompanying hardbound book.

As a regular reader, you may ​have expected the Gagosian profile to inspire me to seek out more biographies about artists. However, it actually reminded me more of “Liar’s Poker,” a ⁤book by Michael‌ Lewis ⁣about Wall Street ⁤in‍ the ​1980s, which I have revisited multiple times. (I wonder what Lewis, who​ studied art history ⁤as an undergraduate at Princeton before⁤ pursuing careers in finance and journalism, would make of Gagosian.)

I will be going on vacation next week, which means the Interpreter will ​be on​ hiatus. Since I have two ‌young children, vacations are not typically a time for leisurely ‌reading‌ by the pool. Nevertheless, I am confident that‍ I will ‍be ​able to squeeze in some‍ novels here and there, as I‌ always do. ‍I⁣ am particularly‌ excited to finally read “The Guest” by Emma Cline, a ⁤book​ that has been on my⁤ reading list for quite some time.

Novels have a tendency ‍to evoke strong emotions in me, so there⁢ is ⁣a risk that‌ the⁢ book’s‍ dark ⁢portrayal of ⁣the ultra-wealthy beach enclaves in ​the Hamptons may cast a ⁣shadow⁢ over‍ my ⁤trip to a coastal​ suburb in Spain, which⁣ is⁣ not at ‍all affluent. However…

2023-08-11 08:52:49
Link from www.nytimes.com

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