Ruling Class Solidarity: Conflict & Growth at SFMOMA Reexamined

February 17, 2021 10:14 AM

How museum collector-trustees recapture charitable donations. Sam Lefebvre on the financialization of art, racialized class conflict, offshoring of endowments, and more.
posted by niicholas (6 comments total)

I was scratching my head over a recent article about crypto non-fungible tokens (NFTs), focusing on a series of pixel art icons called CryptoPunks:

To conclude, NFT valuation is a very complex and challenging topic as valuations differ by the type of NFT. Whilst certain factors are essential for collectibles, art NFTs have different metrics to consider. The most important factors when valuing collectibles could be the size of the collection, attributes and types, and liquidity.

The illustration showing the investment and ownership structure for Joan Mitchell’s Rhubarb (1962) makes me think that maybe the Real Art and Pretend Crypto Art worlds aren’t so far apart.
posted by migurski at 11:12 AM on February 17, 2021

Wow, that's one impressive holistic take on a subject so often only handled in bits and pieces. Makes great use of the expanded format substack writing allows. Well worth reading.
posted by gusottertrout at 11:18 AM on February 17, 2021 [2 favorites]

Blown away - this is an incredible article. The grift breaks my heart, and the harm to museum employees (anti-union mgmt, no shock), but the writing and investigation... wow.

Thank you for posting! I wouldn't have seen this any other way, and I found it fascinating.
posted by esoteric things at 12:17 PM on February 17, 2021 [1 favorite]

I am slowly chewing my way through this one. Thank you for posting, it feels essential.
posted by Lawn Beaver at 12:47 PM on February 17, 2021

Living in a city where during the first dot com boom, loads of bands and musicians lost their studio space to office development, and then during the internet boom, loads of artists lost their studio space for the same reason, it is not surprising to see that a major art venue in SF exists as both an investment and a tax dodge for the wealthy. SF was once known as a center for both music and art, but the creators of music and art could no longer afford to live and work here. The city itself showed no concern about what was happening. Art here is now commodities and assets, whose sole purpose is to accumulate more money. I moved to SF in part because of the art, music, and creativity here. And over the 28 years I’ve been here, that scene has dried up. And, except from artist friends, I’ve heard no outcry from either the public or the city government. For me this article is another nail in coffin.
posted by njohnson23 at 2:11 PM on February 17, 2021 [3 favorites]

What a fantastic article. Thanks for sharing. I appreciated the clear explanation of how fractional gifts of artwork have been structured. You know it’s an indefensibly abusive tax shelter if Chuck Grassley, of all people, curtails it.
posted by cheapskatebay at 3:47 PM on February 17, 2021