volume xv fall 2014

Important American Paintings Now

Louis M. Salerno, Owner

Brent L. Salerno, Co-Owner

Chloe Heins, Director

Angela Scerbo, Manager

Nina Sangimino, Senior Researcher

Chelsea DeLay, Coordinator

Shannon Cassell, Administrator

Alison Kowalski, Research Associate

Rita J. Walker, Controller

Q UESTROYAL F INE A RT, LLC

903 Park Avenue (at 79th Street), Third Floor, New York, NY 10075 t:(212) 744-3586 f:(212) 585-3828 hours: Monday–Friday 10–6, Saturday 10–5 and by appointment

email: [email protected] www.questroyalfineart.com The Balloon Dog and the Underdog:

The Value of Contemporary Art vs. American Paintings by chloe heins Charles E. Burchfield Jeff Koons poses beside his (1893–1967) seated at his Balloon Dog at Chicago’s easel, October 1966. Museum of Contemporary Art. Original Ektacolor slide by (AP Photo/Charles Rex Arbogast) William Doran. Courtesy of the Charles E. Burchfield Archives at the Burchfield The art world is becoming a tale of two markets: world; we can take real pride in it. Instead of imagining a team Penney Art Center, Gift of William Doran, 1966 contemporary — and the rest.1 of assistants fabricating a colossal dog sculpture, wouldn’t you rather envision Charles Burchfield recalling nature in his studio,

The above statement is polarizing, and it alludes to one of or Sanford Robinson Gifford looking out over Kaaterskill Clove? Can you imagine buying a painting of this kind? Would it bring of our lives, experiences, and legacies, and there is no way of our perpetual hurdles: building and maintaining confidence I, for one, see the integrity in knowing who created the artwork you real pride and enjoyment? Would you want to leave this permanently untangling it. The same cannot be said for the in American paintings. This challenge, while reinforced by on our walls and understanding its intrinsic value. type of art to your children? In contrast, when collecting “trophy art” of today. the inherent beauty, value, historical importance, and solid We constantly strive to make a compelling case for American American paintings, this unflattering stereotype does not exist; reputation of American art, only intensifies in the shadow of art, and while we hope that Questroyal’s mantras — recited in If the American nineteenth- and twentieth-century painters you American art will never be obsolete because it has remained the mammoth postwar and contemporary market — a lurking national magazine ads and our monthly catalogues — resonate follow and collect occasionally seem lackluster or unpopular relevant for centuries, even during vast cultural and economic hulk of celebrity artists, kingpin dealers, and collectors with with and inspire collectors, we realize that these efforts might by comparison to the postwar and contemporary market’s shifts. To quote Questroyal’s owner, Louis Salerno, my mentor unimaginable wealth. be seen as self-promotion. It is harder, however, to ignore the boldface names, consider the cautionary tale of ex-golden boy for eleven years and a true proponent of American art: Damien Hirst, whose prices have been on the decline since Despite my confidence in American paintings, I feel occasion- voices of art world authorities, who are completely disconnected Let’s take art back before it drowns in the torrent created by a 2009. In 2012, Bloomberg Businessweek called Hirst “the richest ally overwhelmed by the flood of sensational contemporary from the Questroyal sphere — and any related bias — and who society bent on monetizing everything within its grasp. Once, artist in the world,” with an estimated fortune of $350 million. art news. The blockbuster headlines roll in like a storm — a nevertheless reinforce our views. In his June 16 analysis of the artistic merit was essential to us; however, this inherent prem- Hirst is often compared to Warhol, but Pop art’s iconoclast never cloud cover of drama and gross spending that effortlessly popular contemporary abstract painting style cleverly deemed ise is being perverted by an egomaniacal marketplace that received more than $50,000 for a painting during his lifetime.5 overshadows the American paintings market. Rather than “Zombie Formalism,” Jerry Saltz, senior art critic at New York prioritizes a work of art in relation to the obscenity of its cost. While the concept of a superstar artist began with Warhol, this feeling even a hint of intimidation or insecurity, we American magazine, makes many chillingly relevant observations. His extreme level of wealth flaunted by contemporary artists and art enthusiasts should recognize the true absurdity of the commentary exposes the impersonal and money-dominated As Saltz predicts, “My guess is that, if and when money disap- their collectors is a phenomenon unique to this decade, culmi- billions of dollars spent on postwar and contemporary art each nature of much of the contemporary art world: pears from the art market again, the bottom will fall out of nating in the Christie’s evening postwar and contemporary year — and in particular the shocking auction figures. Consider In today’s greatly expanded art world and art market, artists this genericism. Everyone will instantly stop making the sort sale this May, which produced “the highest total for a single Larry Gagosian’s comment after being outbid at Christie’s on making diluted art have the upper hand. A large swath of of painting that was an answer to a question that no one 6 4 auction, not accounting for inflation, in Christie’s history.” Three Studies of Lucian Freud by Francis Bacon, which sold the art being made today is being driven by the market, and remembers asking — and it will never be talked about again.” for a staggering $142.4 million this past November: “I went to specifically by not very sophisticated speculator-collectors My belief in American art is essentially the antithesis to These jaw-dropping auction results are, in part, attributable $101 million, but it hardly mattered.”2 We can do more than who prey on their wealthy friends and their friends’ wealthy Saltz’s prophecy: our connection to nineteenth- and twentieth- to Jeff Koons, who was recently deemed “the most original, take comfort in our refined and respected corner of the art friends, getting them to buy the same look-alike art.3 century American paintings is entwined with the dense fibers controversial, and expensive artist of the past three and a half John Singer Sargent (American, 1856–1925). Bedouins, 1905–1906. Opaque and translucent watercolor, 18 x 12 in. (45.7 x 30.5 cm). Brooklyn Museum, Purchased by Special Subscription, 09.814 decades”7 by The New Yorker and is the subject of The Koons era may not be in sight, the cost of an artwork should opened in April 2013 at the Brooklyn Museum and then at the Whitney Museum of American Art’s current retrospective — never be more powerful than its content and relevancy — this Museum of Fine Arts, Boston, last October — can readily attest its last before the museum relocates downtown. Interestingly, priority reversal simply will not stand up to history. to its importance and contribution to the value of American though, The Whitney has only three works by Koons in its per- Impressionism. Challenging disbelievers, Ken Johnson of The New This is not all to say that American art never makes headlines. manent collection; whereas, they have 3,153 works by Edward easily quantifiable as strong auction records, can yield equally York Times remarked in his review of the Sargent show, referring In December, Norman Rockwell’s Saying Grace broke the art- Hopper, arguably the most well-known American artist. If you positive results. Notably, in February, The National Gallery in to both institutions’ decision to acquire the works in the early ist’s auction record at an impressive $46 million. Laurie Norton compare the sum of the five highest-grossing works at public London purchased George Bellows’s Men of the Docks for 1900s: “Was it a wise investment on the part of the museums of Moffatt, director of the Norman Rockwell Museum, said of the auction by Jeff Koons with the sum of Edward Hopper’s five $25.5 million — the first major American painting to be included Brooklyn and Boston to buy his watercolors in bulk? All things artist’s recent surge: “I think we’re in a new era now. The ideals highest auction records, the Koons group exceeds the Hopper in its collection.11 This acquisition signifies the increased rec- considered, it indisputably was.”12 With solidarity, we should in his work are timeless, and they resonate deeply. That’s a group by over $68 million. ognition of American paintings abroad. Unlike in the postwar reflect on any progress in American nineteenth- and twentieth- quality of great art throughout the centuries.”9 Michael Moses, and contemporary arena, which is flooded with buyers from century art — consistent optimism will generate momentum. This dichotomy of value, given Hopper’s many years of influ- a former professor of economics at New York University’s Stern Asia, Europe, and the Middle East, collectors of American ence and importance, is illogical. Although it is difficult to pre- School of Business, commented on the 2013 American art sales My unending mission is to help build American paintings col- paintings have historically been predominantly domestic. But dict at this point whether Koons’s dominance will be a long- results in the context of Rockwell’s recent gains: lections and to inspire further confidence in the artists and art- appreciation of American art has been growing momentously lasting phenomenon, it is unsettling, considering the arrogant These prices are enormous by the standards for American works within them. To do this effectively, I must address the in Europe over the past few years, and it is only a matter of time demonstration of wealth involved, to imagine his popularity paintings, which tend to be undervalued … There’s a great elephant (or, rather, balloon dog) in the room — the postwar before the American paintings market draws more foreign buyers. eclipsing the resilient reputation of a revered artist like Hopper. Georgia O’Keeffe painting coming at Sotheby’s that’s estimated and contemporary market, and how it impacts nineteenth- Furthermore, a series of recent exhibitions outside the United It is also disheartening to see that the artistic integrity of Koons’s at only $2 to $3 million … The academic acclaim for O’Keeffe and twentieth-century American art as an investment. In his States, such as American Impressionism: A New Vision — currently work (not up for debate here) has already been overpowered by is exponentially higher than for Rockwell. Or take Albert review of the Koons retrospective, Peter Schjeldahl of The New on view at the Scottish National Gallery of Modern Art and the topic of its nonsensical worth, which has come to dominate Bierstadt, one of the greatest American painters of the nine- Yorker writes, “It’s really the quality of his work, interlocking later traveling to the Museo Thyssen-Bornemisza, Madrid — the conversation. Saltz, in his recent New York magazine review teenth century. There’s a Bierstadt at Sotheby’s estimated at with economic and social trends, that makes him the signal $1 to $1.5 million.10 continues to advance the global influence of American art. of the Koons retrospective remarks, “Artists in Koons’s category artist of today’s world. If you don’t like that, take it up with the no longer even belong to the art world. In fact, ‘A Retrospective’ It is important to remember that auction sales represent only If we recognize our collective commitment to American paint- world.”13 Thank you, Mr. Schjeldahl, I will, and I encourage confirms that the art world doesn’t belong to the art world any- a portion of art sales and should not be used exclusively to ings — in its many forms — then this will only strengthen the anyone of like mind to do the same. Rather than questioning more.”8 Many share this disillusionment and see Koons at the determine value or to assess the state of the market. Other market and protect our investments. Those who saw the critically why we are the underdog, let’s hope American art remains rela- epicenter of an engorged art bubble. While the end of the advances in the American paintings market, though not as acclaimed John Singer Sargent Watercolors exhibition — which tively undervalued so that we can continue to buy and enjoy it. Endnotes

related work plate 48 exhibited exhibited The Value of Contemporary Art Milestones in American Art 10 Fairfield Porter, “Against Idealism,” in Art in 28 John Baker and Guy Pène du Bois, “Guy Pene Its Own Terms: Selected Criticism, 1935–1975, du Bois on Realism,” Archives of American From the Shawangunk Mountains, oil Thomas Moran (1837–1926) National Academy of Design, New York, (Possibly) Pennsylvania Academy of the vs. American Paintings 1 3 1 Patricia Cohen, “Museums Draw on Events ed. Rackstraw Downes (Cambridge, Art Journal 17, no. 2 (1977): 4. on canvas on panel, 3 /8 x 5 /8 inches; New York, 1917, no. 102 Fine Arts, Philadelphia, Pennsylvania, 1864, A Side Canyon, Grand Canyon, 1 That Shaped the World,” The New York Times, Massachusetts: Zoland Books, 1993), 103. Smithsonian American Art Museum, Indian Hill Historical Museum Association, no. 58 Scott Reyburn, “Wary Art Collectors Find 29 Fairfield Porter, “Art and Knowledge (1966),” Arizona, 1905 October 27, 2013, F14. Washington, D.C. Bequest of Charles H. Ettl, Cincinnati, Ohio, Golden Era of Art, 1978, National Academy Museum, New York, Gems in the Past,” The New York Times, 11 Joan Ludman, Fairfield Porter: A Catalogue in Art in Its Own Terms: Selected Criticism, Oil on board 1987.61.2 no. 62 New York, William Trost Richards: Visions of June 30, 2014. 2 Available at www.artgallery.nsw.gov.au/ Raisonné of the Paintings, Watercolors, and 1935–1975, ed. Rackstraw Downes 14 x 20 inches 2 media-office/america-painting-a-nation/ Pastels (New York: Hudson Hills Press, 2001), 14. (Cambridge, Massachusetts: Zoland Books, Cincinnati Art Museum, Ohio, Cincinnati Land and Sea, May 23–September 8, 2013 Carol Vogel, “At $142.4 Million, Triptych Is the Most Expensive Artwork Ever Sold at an 3 12 1993), 259.w plate 47 Monogrammed and dated lower left: Collects Paintings, March 31–May 15, 1983 literature Available at http://www.smb.museum/ John T. Spike, Fairfield Porter: An American TMORAN. 1905.; titled, monogrammed, Auction,” The New York Times, November 13, en/museums-and-institutions/neue- Classic (New York: Harry N. Abrams, 1992), 265. 30 Rackstraw Downes, “Fairfield Porter: The John Frederick Kensett (1816–1872) Gerald Peters Gallery, New York, New York, “Philadelphia Art Notes,” The Round Table, and inscribed on verso: A Side Canyon. / 2013, A27. nationalgalerie/exhibitions/exhibition- 13 Thought behind the Painting,” in Fairfield Edward Henry Potthast: American May 14, 1864, 344. Glyn Vincent, The Unknown Night: The Genius New England Sunrise Grand Canyon, Arizona. /TMoran. / 3 detail/marsden-hartley-die-deutschen- Porter: A Catalogue Raisonné of the Paintings, Impressionist, May 20–June 20, 1998 Jerry Saltz, “Zombies on the Walls: Why Does and Madness of R.A. Blakelock, An American Linda S. Ferber and Caroline M. Welsh, Oil on canvas for J. G. MOULTON. So Much New Abstraction Look the Same?” bilder-the-german-paintings-1913-1915.html Painter (New York: Grove Press, 2003), 8. Watercolors, and Pastels, Joan Ludman 1 1 literature In Search of a National Landscape: William 4 (New York: Hudson Hills Press, 2001), 14. 18 /8 x 30 /4 inches provenance New York, June 16, 2014, 86. Barrymore Laurence Scherer, “Hudson River 14 Trost Richards and the Artists’ Adirondacks, Kathryn Corbin, “John Leslie Breck, American Edward Potthast: American Impressionist 4 Giants,” The Wall Street Journal, June 9, 2014. 31 Joan Ludman, email message to a Questroyal Monogrammed lower center: JFK J. G. Moulton, Chicago, Illinois Ibid. Impressionist,” The Magazine Antiques, (New York: Gerald Peters Gallery, 1998), 24. 1850–1870 (Blue Mountain Lake, New York: Accessible at http://online.wsj.com/articles/ November 1988, 1142. client, May 1, 2012. provenance R. E. Cies, Oklahoma The Adirondack Museum, 2002), 27–8. 5 Andrew Rice, “Damien Hirst: Jumping the Patricia Jobe Pierce, Edward Henry Potthast: art-review-master-mentor-master-thomas- 32 Shark,” Businessweek.com, November 21, 15 James William Pattison, “Robert Reid, Frank and Merle Buttram, Oklahoma, Ibid., 1145. Charles Henry Ludington, New York, ca. 1890 More Than One Man (Hingham, cole-frederic-church-1402347440. Painter,” House Beautiful XX (July 1906): 18. 2012, http://www.businessweek.com/ 16 acquired from above, 1924 Massachusetts: Pierce Galleries, 2006), pl. 1. 5 Ibid., 1142. William H. Ludington, Cannes, France, articles/2012-11-21/damien-hirst-jumping- Available at www.thomascole.org/new-studio 33 “Exhibition of Recent Works by Robert Reid,” son of above, by descent from above Private collection, by descent from above 17 Oswaldo Rodriguez Roque, “The Last Julie Aronson, ed., Eternal Summer: The Art the-shark#p1. 6 Available at www.metmuseum.org/about-the- Academy Notes VIII (April 1913): 64. William H. Ludington III, by descent Questroyal Fine Art, LLC, New York, New of Edward Henry Potthast (Cincinnati, Ohio: Summer’s Work,” in John Frederick Kensett: 6 Carol Vogel, “Asian Collectors Give Christie’s museum/press-room/news/2012/benton 34 Adrienne Baxter Bell, “Charles Caryl York, 2008 Cincinnati Art Museum, 2013), 56, fig. 41. An American Master, ed. John Paul Driscoll from above a High-Yield Night,” The New York Times, and John K. Howat (Worcester, Massachu- Coleman on Capri,” The Magazine Antiques, Sale, Sotheby’s, New York, New York, Private collection, Washington, Connecticut, Note: This painting is the co–record holder May 14, 2014, A22. setts: Worcester Art Museum, 1985), 155–6. November 2005, 145–46. acquired from above, 2010 December 6, 1984, lot 35 for the highest price paid at auction for 7 35 Peter Schjeldahl, “The Art World: Selling 18 “Literature,” London Daily News, November the artist; it was sold at Christie’s, New York, Artworks Maybelle Mann, Walter Launt Palmer: Poetic Alexander Gallery, New York, New York, Note: This painting will be included in the Points,” The New Yorker, July 7 & 14, 2014, 92. Reality (Exton, Pennsylvania: Schiffer, 1984), 28. 24, 1857, 2. acquired from above on May 24, 2007, for $1,384,000. forthcoming catalogue raisonné of the artist’s 8 1 36 Jerry Saltz, “Taking in Jeff Koons, Creator and Barbara Haskell, Milton Avery (New York: 19 Franklin Kelly, “Nature Distilled: Gifford’s work by Stephen L. Good and Phyllis Braff. Charles H. Caffin,The Art of Dwight W. Tryon: Blanchette H. Rockefeller, New York Destroyer of Worlds,” New York, June 30, 2014. Whitney Museum of American Art, 1982), 158. Vision of Landscape,” in Hudson River School plate 50 An Appreciation (printed by author, 1909), 35. Estate of above 9 James B. Stewart, “Norman Rockwell’s Art, 2 Visions: The Landscapes of Sanford R. Gifford, Charles Burchfield: Recent Paintings (Buffalo, 20 Linda Ferber, Albert Bierstadt: Art & Enterprise plate 49 William Trost Richards (1833–1905) Once Sniffed At, Is Becoming Prized,” ed. Kevin J. Avery and Franklin Kelly (New York: Sale, Christie’s, New York, New York, New York: State University College at Buffalo, (New York: Hudson Hills Press in association The New York Times, May 23, 2014, B1. The Metropolitan Museum of Art, 2003), 4. November 30, 1994, lot 10 Edward Henry Potthast (1857–1927) Bouquet Valley in the Adirondacks, 1863 1963), 3. with the Brooklyn Museum, 1990), 23. 37 Masco Corporation, Taylor, Michigan 10 Ibid. 3 Ibid., 14. The Water’s Fine Oil on canvas Howard Russell Butler, Painter and Space; 21 “Living American Artists. No. III. Albert 38 Sale, Sotheby’s, New York, New York, 1 1 11 Or, The Third Dimension in Graphic Art Eleanor Jones Harvey, “Tastes in Transition: Oil on canvas 25 /8 x 36 /8 inches Carol Vogel, “A Bellows Painting Moves From Bierstadt, N.A.” Scribner’s Monthly 3, no. 5 (New York: Charles Scriber’s Sons, 1923), 147. Gifford’s Patrons,” in Hudson River School December 3, 1998, lot 102 1 1 Virginia to London,” The New York Times, (March 1872): 605. 30 /8 x 40 /8 inches Signed and dated lower right: February 7, 2014, C24. 4 Visions: The Landscapes of Sanford R. Gifford, Private collection, New York, acquired Wm. T. Richards / 1863. Phila John Wilmerding, American Marine Painting 22 Thomas Moran, “Knowledge a Prime Signed lower center: E Potthast ed. Kevin J. Avery and Franklin Kelly (New York: from above 12 Ken Johnson, “Freedom From High Society (New York: Harry M. Abrams, 1968), 147 Requisite in Art (Portion of an interview),” provenance and 150. The Metropolitan Museum of Art, 2003), 86. Questroyal Fine Art, LLC, New York, provenance in the Sunny Outdoors,” The New York Times, Brush and Pencil XII, no 1 (April 1903): 15. 39 (Possibly) George Whitney, Philadelphia, April 12, 2013, C30. 5 Patricia Jobe Pierce, Edward Henry Potthast: New York, 2010 The artist Walter Farndon, N.A. (1873–1964) (Boston: 23 “Fine Arts,” The Albion, A Journal of News, Pennsylvania More than One Man, ed. Marco Apollo 13 Schjeldahl, 92. Vose Galleries, 1991), 3. Politics and Literature (May 8, 1852): 225. Michael Altman Fine Art & Advisory Cincinnati Business Men’s Club, Ohio, (Hingam, Massachusetts: Pierce Galleries, Alexander Gallery, New York, New York 6 Leon Kroll and Nancy Hale, Leon Kroll, Services, New York, New York, acquired acquired from above, 1922 24 “American Artists,” Harper’s Weekly, July 13, 2006), 62. from above, 2010 Private collection, New Haven, Connecticut, A Spoken Memoir (Charlottesville, Virginia: Cincinnati Art Galleries, Ohio, acquired 1867, 1. 40 2000 Harrison S. Morris, William T. Richards: from above, ca. 1978 University of Virginia Art Museum, 1983), 102. exhibited 25 Cleve Gray, ed., John Marin by John Marin Masterpieces of the Sea (Philadelphia: Michael Altman Fine Art & Advisory 7 Ibid., 109. Alexander Gallery, New York, New York, Mr. and Mrs. Randy Sandler, Cincinnati, Ohio (New York: Holt, Rinehart and Winston, J.B. Lippincott Company, 1912), 55. Services, New York, New York 8 W. M. M., “The Park: Winter by Leon Kroll,” 1970), 113. The Water’s Edge, May 29–June 29, 1985 Private collection, New York 41 “About Painters,” Philadelphia Evening related work The Bulletin of the Cleveland Museum of literature Private collection, 2007 26 Ibid., 107. Bulletin, June 12, 1871, n. p. Art 10, no. 8 (Oct. 1923): 141–142. Boquet [sic] Valley, 1864, oil on canvas; 27 The Water’s Edge (New York: Alexander Private collection, 2012 William C. Agee, John Marin: The Late Oils The Adirondack Museum, Blue Mountain, 9 Erika Jaeger-Smith, Poetry in Design: The Art of Gallery, 1985), no. 12. (New York: Adelson Galleries, 2008), 12. New York Harry Leith-Ross (Doylestown, Pennsylvania: Note: This painting will be included in James A. Michener Art Museum, 2006), 53. the forthcoming catalogue raisonné of the artist’s work by Dr. John P. Driscoll and Huntley Platt.