Creative problem
Amidst concerns that this week’s Armory Show in New York would not proceed as planned, the popular art fair on the Hudson river’s piers 90 and 94 opened to what is being described as a relieved success. Wellknown collectors arrived without the fanfare of masks despite Manhattan reporting its tryst with coronavirus. Other fairs globally are being more cautious and have cancelled or postponed indefinitely their annual outings, among them Art Basel Hong Kong and Art Dubai, both earlier scheduled for this month. The 15th edition of Art Tokyo, also this month, too, stands annulled. Amidst global jitters, more fairs, biennales and art events perched amidst the chasm of hope and despair are trying to read the tea leaves of what the immediate future holds for them. The possibility of millions — billions? — of dollars of tradeable wealth has evaporated in a wisp of smoke.
Nor are fairs the only casualties of the art world, though clarity on what is shutting, or for how long, remains unclear. Among the consequences is arguably the most famous — or popular — museum in the world, the Louvre in Paris, where its staff forced a shutdown. Italy saw the temporary closure of some of its popular museums that have reopened with advisories limiting numbers and increasing space between visitors to a metre between them. They needn’t worry — the queues have diminished to a trickle anyway.
The wait-andwatch tenterhooks of the art world is sending shivers down its collective spine. Whatever shape the pandemic takes, organisers are loath to wish away months and years of planning and potential sales when the virus might slow or cease with the approach of summer. But there is little doubt the industry is nervous. Private shows, gallery exhibits and artist programmes are easier to “postpone”, but large events that require collaborative planning are seeing management heads locked in boardrooms as Plan A is exchanged for Plans B and C — a rare occurrence in the rarefied world of artists, art exhibitors, collectors, promoters and investors.
The most impacted are events where thousands of visitors are expected to concentrate at any given time. This does not include galleries where footfalls remain low. The impact on auctions will bear out later this month, but they are expected to fare somewhat better since bidders have for some time shifted outside the auction room to bid over telephones or online. Different markets may post different results, and that for the Indian market will be up for grabs with the New York sales later this month. How they fare — and the Christie’s sale will be an important pointer — will reveal how Indian collectors are reacting to the medical emergency.
What of India itself ? The current period before the onset of the summer hiatus is important for the trade. As of now, no museums have been shut, though some openings have been pushed ahead. Internationally, private sales are a lucrative segment of the business, but in India this constituency is underreported. It’s anyone’s guess how things will play out, but speculation is that private sales are likely to see a push. As for the market itself, the recent successful auction of fugitive Nirav Modi’s seized art and personal effects should be a pointer to the availability of money and the propensity to spend. Isn’t it what the doctor prescribes when times look bad?
The impact on auctions will bear out later this month, but they are expected to fare somewhat better since bidders have for some time shifted outside the auction room to bid over telephones or online