NYT analysis: How the artist Adrian Ghenie became an auction star

At the beginning of October, Adrian Ghenie settled a new record: he sold a painting for USD 9 million, “with a waiting list of private buyers “spread out between four continents,” according to Marc Glimcher, the president of Pace gallery, which represents Mr. Ghenie in New York and is giving him a solo show opening in January,” notes New York Times, the publication that recently dedicated an analysis for the success of the Romanian artist, quoted by Business-Review.eu.

Why all the fuss?, asks the magazine. “He is an extremely talented painter — I don’t think anyone can deny that,” said Ali Subotnick, a curator at the Hammer Museum in Los Angeles, which in 2008 acquired two of Mr. Ghenie’s “Pie Fight” studies. “But it’s a little absurd”.

According to them, several factors have contributed to what art experts describe as a perfect storm for the Ghenie market at auction: a demand for painting — as evidenced by the strong sales for artists like Francis Bacon, Gerhard Richter and Jenny Saville; Mr. Ghenie’s limited output (10 to 15 paintings a year); the scarcity of masterpieces coming up for sale; an affordable price point relative to the top of the market; and an eager pool of wealthy Asian buyers.

Read the NYT article HERE

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