Galleries around the world expect to lose 70% of their revenue to coronavirus, survey finds + more stories

Art Industry News is a daily digest of the most important developments in the art world and the art market. Here is what you need to know on Monday April 27th.
NEED TO READ
Philip Tinari on the reopening of UCCA – UCCA Beijing Director Philip Tinari talks about some of the lessons learned from the lockdown as the city gradually opens up. Director says online exhibitions have not worked as well as hosting events that could not have taken place IRL, such as concerts featuring artists scattered around the world and film festivals where viewers could chat about what they were watching in real time. Now, Tinari is preparing to open an exhibition on May 21 titled “Meditations for Emergencies,” a month-long show that aims to talk about the new standard of temperature controls and even more controls. strict movements. (The arts journal)
SFMOMA staff on leave ask director to reduce salary to zero – Staff members on leave from SFMOMA wrote an open letter to its director and executive staff asking the museum to keep them. Museum staff are paid until June 30 with a $ 6.2 million federal loan, but their long-term future is still uncertain. The open letter suggests a number of strategies for making funds available, including donating works of art, asking directors to donate funds, and director Neal Benezra giving up his annual salary of nearly a million dollars for the remainder of the year. (Hyperallergic)
Galleries suffer 70% loss of revenue due to coronavirus – The arts journal has teamed up with Rachel Pownall of Maastricht University to determine how badly galleries expect to be affected by the virus and the ensuing economic downturn. The results of the survey, which brings together responses from 236 merchants, are sobering: galleries around the world expect to lose an average of 72% of their revenue. About a third of galleries, meanwhile, do not expect to survive the crisis at all. Dealers with fewer than four employees reported the lowest odds of survival (65%), while larger galleries were more optimistic. UK dealerships estimated they would see the biggest drop in financial activity (79%), followed by Asia (77%), North America (71%) and the rest of Europe (66%). (The arts journal)
ICA Boston uses Outpost to feed local families – T‘ICA Boston is using its East Boston outpost, the Watershed, as a warehouse to distribute food to families affected by the coronavirus crisis. The ICA asked their catering company to organize a month-long donation campaign and recruited new donors to support the project. He distributed family-sized boxes of fresh produce and dairy products in an effort to feed 400 families in East Boston, which has been hit hard by the virus. (Boston Globe)
ARTS MARKET
People are already reselling Murakami’s Supreme Relief t-shirt – A $ 60 Supreme t-shirt designed by Takashi Murakami to raise funds for COVID-19 relief is already being resold online for up to $ 1,500. In the face of criticism, online retailers like Grailed and StockX, which allow people to cash in on the shirt, are donating some of the proceeds from sales to charity. (Complex)
David Zwirner reopens the Hong Kong gallery – David Zwirner reopens his Hong Kong gallery by appointment only from May 5. To coincide with the reopening, it will launch a bilingual English and Chinese online viewing room called Lixia. The gallery has so far has had considerable success with online sales, grossing $ 1.8 million for a painting by Josef Albers and selling his special presentations by Harold Ancart and Marcel Dzama. (Press release)
Sotheby’s announces a series of ephemeral auctions – Following the success of its online program, which has grossed more than $ 50 million in four months, Sotheby’s Hong Kong is launching a new fast-paced, themed online auction series called “Contemporary Showcase”. Scheduled for Spring / Summer 2020, the weeklong auctions have themes such as Western art and manga. (Press release)
An art fair becomes a PDF – The Monegasque artmonte-carlo fair, which was to take place next weekend, will be held more like a “catalog” art fair. The participating galleries, which include the 303 Gallery, Almine Rech and White Cube, will each present three works. The catalog (also known as PDF) will first be distributed to guests who attended the previous fair and then distributed more widely. (Press release)
ARRIVALS AND AISLES
Former Sotheby’s PR Chief Heads Up Foundation – The Shubert Foundation, the largest private foundation in the United States dedicated to the unrestricted funding of nonprofit theater and dance, has appointed Diana Phillips, the former director of communications at Sotheby’s, as its president. The post was previously held by Michael I. Sovern, who died on January 20. (Press release)
Andrew’s collaborator Betsy James Wyeth dies at 98 – The widow, collaborator and muse of American painter Andrew Wyeth died on April 21. It was Betsy James who introduced her future husband to Christina Olson, the subject of the famous painting. Christine’s world. This title, like the titles of many of Andrew’s works, was not conceived by the painter, but by Betsy James. (New York Times)
Asia Society Announces New Dates for Inaugural Triennale – Asia Society Museum has reprogrammed and redesigned the Asia Society Triennale to take place in two parts over eight months, from October 27, 2020 to June 27, 2021. The exhibition, an ambitious presentation of the work of 41 artists and collectives from 20 countries, was originally scheduled to open on June 5. (Press release)
FOR THE LOVE OF ART
Pledge to support artists generates £ 15million – The Artist Support Pledge initiative, which was created online in March to support artists in the face of economic uncertainty, has generated £ 15million. Artists and creators are posting images of works priced up to £ 200. Each time an artist makes £ 1,000 in sales through the initiative, they must commit to purchasing £ 200 worth of works from other participating artists. (Press release)
Museums are working to expand exhibition loans – Museums are burning midnight oil to negotiate loan extensions of works of art to be included in postponed or suspended exhibitions. Institutions including the Scuderie del Quirinale in Rome, which has closed its doors his successful Raphael exhibition after just three days, ask lenders for permission to extend shows beyond their original closing dates. The Uffizi Galleries in Florence, which was the biggest lender of the Raphael show, have already agreed to extend their loans. (BRONZER)
The artist behind the Gruffalo writes a book explaining the virus to children – A new book by world famous children’s illustrator Axel Scheffler helps children understand the current crisis. Called Coronavirus: a book for children, the new publication is available for free online within a week, published by children’s book producer Nosy Crow. (BBC)
The Russian art reenactors who caused a stir – It turns out that the biggest motor behind the current the craze for reconstructing works of art sweeping the internet is a Russian Facebook group that formed about a month ago. Initiated by a Moscow-based project manager at a tech company, the online community now numbers 540,000 members who share complex and imaginative interpretations of famous works of art made with household objects. The group receives approximately 1,000 messages per day. (New York Times)
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