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The uneasy marriage of artwork and cash

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September 21, 2024

My household moved just lately. A change of tackle events a lot administrative work, one process of which was to calculate the worth of the artwork assortment my husband and I’ve cobbled collectively. Appears doubtless I used to be displacing some emotion — leaving our residence of 14 years was not straightforward — however this train made me philosophical. I may enumerate the costs I had paid for numerous works; I may extrapolate concerning the present artwork market by checking latest public sale outcomes. However what did that inform me? The insurance coverage firm wished to find out about greenback quantities, however I used to be caught on the thornier query of worth.

Seven years in the past, I noticed a retrospective of the artist Agnes Martin, at New York’s Guggenheim Museum. I used to be acquainted with Martin’s minimalist work, which I admired, and was unprepared to be stunned by the exhibition, not to mention deeply moved. I like the expertise of communion with movies, books, canvases on the wall, however I’m not often overcome by it, and positively didn’t count on to cry over an artist identified for her cool geometries. However there we have been, my companion and I, contemplating Martin’s ultimate completed portray with tears in our eyes. 

I’ve tried to make sense of my state on today. I used to be hungry, or drained, or thirsty, or some mixture of those — my prognosis when coping with my kids’s emotional outbursts. Possibly Frank Lloyd Wright’s constructing had one thing to do with it, the pitch of the ground making me really feel unsteady, the open rotunda making me really feel dizzy. Or my response was purely emotional — I’d must be product of stone to really feel nothing after listening to the sobering details of Martin’s life. Maybe all that is true, or an element, anyway, in my tears. 

It’s additionally potential that I skilled one thing too uncommon in my secular life in our profane tradition — name it the sacred. Already a cliché to say museums are fashionable cathedrals, constructed to dwarf the physique and awe the senses; price mentioning that quiet contemplation of something that’s not my iPhone feels profound, and that the progress I made up the ramp of the Guggenheim was quite just like the religious Catholic’s commentary of the Stations of the Cross.

I feel artwork is likely one of the final provinces of the sacred for me, perhaps for many of us. A murals’s value can’t inform us something about it, and there’s no level in speaking about artwork when it comes to {dollars} or euro or yen, however maybe there’s no different metric accessible to us.


The most costly factor I’ve ever purchased is a portray. It’s a small work, a minor effort by one of many world’s most celebrated artists. I purchased it at public sale, spending excess of I had meant to, caught up within the aggressive fervour, my need for this work in some way aside from what I might pay for it, by the magical pondering that governs most of my buying. The way in which my insurance coverage firm judges this untitled portray’s price is by referring to the file of what I spent on it. That’s the market in a nutshell; issues are price what somebody is keen to pay.

A white winged horse and tiger figurines standing on a pile of books on a table, on which is propped a painting of a boy and some photo booth portraits
A part of the artwork assortment of Rumaan Alam . . .  © David A Land
A room with a desk and table on which there is a laptop, pictures and two lamps, with pictures on the wall and piles of books on the floor
. . . at his New York residence © David A Land

After I have a look at this portray, I don’t take into consideration that quantity. I take into consideration what a genius can do with paint, and I take into consideration this explicit genius’s capacity to make pictures which are directly horrific and exquisite, and I take into consideration the fingers of this explicit genius touching this artefact that I now possess. However I’m not an underwriter. 

That is the costliest portray in our assortment, however I don’t know if it follows that it’s also essentially the most beneficial. I’ve a framed watercolour that my older son did when he was three — bless the Montessori lecturers who wrote the date on it. It’s a splash of sunshine blue and is, based on the artist, a whale. Kids’s artwork not often appears to be like like what it’s meant to depict, however on this case, the factor, maybe solely unintentionally, really resembles a breaching whale. Clearly, there’s no method to convert sentimental worth into precise forex. 

It’s an incredible privilege that I’m ready to spend any cash on artwork, although I possess extra sentiment than forex. It’s nonetheless potential to purchase the work of artists at the beginning of their profession, or editions by extra well-known names at small public sale homes, and even minor work by true masters.

I take into consideration the cash, as a result of I’m working inside the constraints of a finances, however solely after I’m within the act of transaction. Then I overlook that altogether. I can not, as George Lucas did, spend $15mn on a portray by Robert Colescott. I may, although, spend about one month’s lease on a small, early work by the identical artist. Residing with it affords me a pleasure to which I can not affix a price ticket, although my insurer has requested me to.


Generally a murals is described as priceless. In my creativeness this means extra zeroes than one can rely, however it’s extra correct to say that with artwork, numbers aren’t salient. We must always name a masterpiece unpriceable as a substitute. 

Nonetheless, cash is so important an element of up to date existence that we can not assist however carry it in. Cash borders — even when it shouldn’t enter — a few of life’s most severe provinces. Household life, non secular religion and romantic love could also be all which are left to us which are exempt from the logic of shopping for and promoting. 

The artwork market is one matter, however even the urge to {photograph} or in any other case doc a museum go to, quite common in the intervening time, is, I feel, an financial exercise. We attain for our telephones from some insipid urge to take part in a tradition too attuned to pointless connectivity, sure. However to Instagram a Pollock or a Van Gogh transforms that second of delight into work. We expect this ennobling; it’s sadly debased. 

I don’t know whether or not it’s truthful to contemplate religion a realm wholly uncorrupted by cash — it’s definitely potential to enumerate the property of, say, the Catholic Church (a few of that are what we’d name priceless). However, artwork can present an encounter with the mysterious, a territory that borders the paranormal. Maybe that’s the reason I so usually discover it a balm. 

Just a few months in the past, on a day I discovered personally tough, I fled to the Museum of Trendy Artwork in want of distraction or solace. I noticed an exhibition by the video and efficiency artist Joan Jonas. I spent a surprisingly very long time watching black-and-white footage of a efficiency she’d staged many years in the past, within the then-wasteland of decrease Manhattan. In these minutes, I actually forgot the troubles that had despatched me to the museum within the first place.


Final summer time, I pulled some strings and was invited behind the scenes at Christie’s Rockefeller Heart outpost. I used to be writing a guide through which one character, a billionaire, buys a portray by Helen Frankenthaler. (No deeper that means in selecting this artist than the non-public, as she’s one among my favorite summary expressionists.) I wished to see the rooms to which severe collectors are typically invited to kick the tyres of the masterpieces they could purchase. 

A Christie’s staffer led me down an extended corridor, threw open large doorways to intimate, soundless rooms, merely however strongly lit, containing nothing in any respect. I believed they felt like chapels. I beloved imagining the Warhols and Picassos that had as soon as stood there, prepared for inspection. 

My information appeared stunned to find that the final room we entered was not empty in any respect. In my recall, it, too, was vibrant and silent, however there, on the wall, was a portray. It feels like one thing out of fiction however it’s true; it was by Frankenthaler. There are a lot of phrases relevant: happenstance, coincidence, luck, kismet.

I discover that after I’m immersed within the writing of a novel there shall be uncanny resonances in my actual life. I’ll be served a meal like one I imagined, or meet somebody with the identical identify as a personality I invented. There’s no deeper that means in it, only a humorous factor that has occurred to me usually sufficient that I perceive it as a part of the novel-writing course of. Possibly that is a part of the expertise of seeing artwork, too. There’s some frisson that may’t be put into phrases, a way of recognition or kinship. 

I don’t know what occurred to the Frankenthaler I noticed that day. (Christie’s bought a Frankenthaler this spring for greater than $4mn, however that’s a element of curiosity principally, I feel, to insurance coverage firms.) I wish to think about the one who purchased it: that they went into the very room I did, that they smiled with some personal pleasure on the considered being alone with this portray. I wish to think about that they knew and cared about Frankenthaler, that they have been tempted to the touch the portray, that they’d questions on its provenance, that they received shut sufficient to the canvas to odor the paint itself.

I wish to think about that second introduced them pleasure, a pleasure they really feel each time they glimpse the portray, wherever they’ve chosen to hold it. I can not bear to suppose that it went into storage, or hangs in a visitor bed room in a not often visited trip residence. I desire to think about it’s with somebody who would agree with me that artwork’s worth just isn’t calculable, albeit somebody with sufficient cash to say one thing like this and nonetheless be taken significantly. I’d like to inform that portray’s proprietor how I stole two minutes alone with their portray, and I wish to think about they’d know that’s price all the pieces.

Rumaan Alam’s new novel ‘Entitlement’ is printed by Bloomsbury

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