Art Review Power 100 Announced in London

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Art Review Power 100 Announced in London
Art Review Power 100 cover.

LONDON.-Today, the world’s leading contemporary art magazine, ArtReview, publishes its Power 100 for the sixth year running. A list of the most influential people in the contemporary art world, the Power 100 has become an eagerly anticipated event, as much for the gossip it generates as for its more serious value of reflecting the trends and forces that shape the art world from year to year.

For the first time in the list’s history, the top four names in 2007 remain the same as in 2006, with François Pinault, the French luxury goods magnate and owner of Christie’s, continuing to defend his top spot. Commenting on Pinault’s place at number one for the second year running, Mark Rappolt, editor of ArtReview, explains, “His influence has been felt more strongly than ever this year with the opening of his major - and very grand - space for his collection, Palazzo Grassi in Venice, and an impressive rosta of exhibitions. The show ‘Sequence 1’ during the Biennale was a major talking point. Among other things, his patronage of artists, such as Subodh Gupta, a new entrant on this year’s list, continues to lead taste, affirm value and generate interest.”

·Larry Gagosian, Sir Nicholas Serota and Glenn D Lowry remain in positions 2 to 4 respectively.

·In the ongoing debate over whether London or New York holds Art World supremacy, ArtReview this year judges strongly in favour of New York with 30% of this year’s list, compared to London’s 18%. However 5 of these nominees are shared between both cities, pointing to the increasing trend for gallery owners to have a foot in each territory.

·Los Angeles has a particularly strong showing with 11 mentions in this year’s list. Germany comes third on the list of art nations after the US and the UK with 16 mentions, while Switzerland is the fourth ‘big league’ nation with 10.

·Pinault’s rival both in art and fashion, LVMH chairman Bernard Arnault, has recovered from list obscurity in 2006 (when he failed to even make the list) to a respectable 40th place in 2007. The only other French name on this year’s list is another collector, Antoine de Galbert. Honorary mentions however are accorded to some of Pinault’s ‘entourage’, including Alison M. Gingeras, Emmanuel Perrotin, Philippe Ségalot, Monique Veaute, Elena Guena and Caroline Bourgeois.

·The number of collectors on this year’s list has increased by 10%, reflecting the largest increase of any group

·While New York may dominate this year’s list, the highest overall rise has been a British institution, the Haunch of Venison Gallery, which has risen from 54th place to 16th, shooting up 38 places.

·Other abrupt moves include gallerist Jay Jopling, from 19 up to 8 and hedge-fund investor and contemporary art collector, Steve A Cohen, from 32 up to 9.

·New appearances on the list include the crown prince of Dubai, Sheikh Mohammed bin Zayed al Nahyan of Abu Dhabi, the man behind the ambitious collaborations with the Louvre and the Guggenheim.

·The most influential artist this year is Damien Hirst in position 6, up slightly from 11 last year, but still nowhere near number 1 as in 2005. While his diamond - encrusted skull has dominated headlines.

·Jeff Koons is the second most influential artist in position 13 followed by Richard Serra in 19 (in a dramatic leap from last year’s 73) and Richard Prince who has only gone up two places since his 28th position last year.

·This year’s list also points to the growth of the Far East, with artists from Beijing, Seoul, Tokyo and Mumbai. The last 2 spots on the list are held by an Indian auction house and an Indian collector, while New Delhi based Subodh Gupta takes 85th place.

Mark Rappolt, Editor of ArtReview, makes the following comments on this year’s list:

“The interesting story this year is the balance in power between London and NYC. While NYC dominates this year’s list there are reasons to think that London is on the up. I also think the rise of India is one of the most interesting developments; whether it will be stronger than the rise of China (which has had absolutely no change really in terms of the Power 100) will be an interesting trend to follow in the coming years.
The art world might also be surprised to discover Damien Hirst doesn’t figure higher than his sixth place on this year’s list, despite the astonishing figures commanded by sales of his recent work. But it’s influence as well as money that counts and sometimes £180 million is not enough to buy your way to the top!”

On this year’s top four - “Serota and Lowry remain the directors of respectively the most popular and the wealthiest contemporary art museums around. The Tate’s progress continues seemingly unbounded, having recently announced attracting more visitors this year than ever before, while the Tate Modern garners more visitors than any other contemporary art museum in the world. At the same time MoMA has a stature that no other museum can match. Its wealth and influence are vast. Gagosian meanwhile still has the most important stable of artists.”

On this year’s highest riser, the Haunch of Venison gallery in London - “Haunch of Venison have a vastly increased financial clout thanks to their acquisition by Christie’s and their new spaces in Berlin and NYC, set to open shortly..”

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