Friday, November 13, 2009

Ryan McGinness Hosting Artists' Auction at His Studio Tonight

Posted By on Fri, Nov 13, 2009 at 12:07 PM

Ryan McGinness art auction party
Rising Pop art star Ryan McGinness has been hosting weekly parties at his studio on Friday nights since July dubbed 50Parties, but tonight's 19th party will be a little different: He'll be holding an artists' auction (click here to see the catalog). It's been kind of a crazy week for art auctions, but this is a pretty significant departure from the norm.

Of course, Damien Hirst made headlines just over a year ago when he organized an auction of his own works that raked in about $200 million, but that was held at Sotheby's and featured only works by one, very well-known artist. Here, McGinness is cutting out auction houses altogether, which means no fees for buyers and more money for the artists.

Plus he's featuring not only his own very sought-after work, but also pieces by less-known and emerging artists, which means that many of the works in the show are actually very affordable. Estimated prices ranging from $250 to $14,000 and including works by 16 artists including Erik Parker, Eve Sussman, Cheryl Dunn. I guess we'll have to wait until the bidding is over to see if it works, but this seems like a very appealing alternative to the traditional auction model, and one that could open art patronage up to a whole new group of middle-class collectors.

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