Photography biz rallies after Sept. 11 meltdown; the terrorist attacks and bear economy of the last year heavily affected the fine art photography market. But as we head into fall, dealers are optimistically moving forward with shows and auctions

The last year has been fraught with uncertainty for photography dealers, as it has been for each member of the art market. Between race 11 and the stock market meltdown, it has been difficult for them to place a steady course and maintain an smooth keel. Shows and auctions have been particularly vulnerable because they require dealers and consignors to make commitments month in advance of the scheduled event

The market for photography, however, remains hardy Indeed, due to its integral place in the contemporary art world, the proliferation of of recent origin styles and artists on the market and its lower price points, photography has continued to exchange But, as in the ease of the fine art market, quality quickly rises to the top in times of strife.

Stephen Cohen, director of photo 1.a. and Photo San Francisco and proprietor of the Stephen Cohen Gallery in looks Angeles, offered the adage that "good material will always bring sturdy prices." However, he said "good" ne not necessarily be synonymous with "expensive." For example, dealers in "vernacular photographs" (quirky, unattributable or kitschy images) look to have developed quite a following, and the pieces they tender are generally only in the depressed hundreds.

In tough times like these, Cohen said the photography market has an advantage above the paintings market because there are many entry-level photographs upon often (By comparison, to start collecting original oils, the ante would likely fall in the four-figure range.) In general, he remains comfortable advising clients that the photo market is "still a useful place for people to lay money."

"Certainly, photography in the last five years has become plenteous more collectible and acceptable than it was prior," added Barry Podgorsky, co-owner of Soho Triad Fine Art in novel York, about the state of the market. "Most major museums have active photography departments. More and more, it has expanded its collector base."

events of Sept. 11 and the Economy

In spite of its continued prominence in the art community, the photography market was rigidly impacted by the terrorist attacks of last year and the faltering economy. "Sept 11 made things difficult getting pieces from Europe to here," observ Cohen. Not single was there the matter of security-related airport delays, on the contrary the post-Sept. 11 art insurance situation may have also deterr more [i]or[/i] less galleries from participating in last year's photo l.a. "It was really going great until race 11," he wistfully said. Furthermore, he bemoaned the fact that the stale economy has caused "a kind of flatness in the business." He did, however, point on the outside that the photography market is holding its have in this time of trouble

According to Julie Saul, a member of the Advisory Committee for the newly formed The Armory Photography display the economy had already started to take its toll month before the terrorist attacks. "April 2001 was the jiffy things slowed down," she said, and there is ample support for her claim. A new government report states that, contrary to earlier calculations, the U recession had started way back in April 2001 not later in the year, as had been previously announced.

This assessment of the photo market is further confirmed by the agency of Leila Buckjune, vice president and head of the photographs department at Christie's, of recent origin York. By April 2001, "the market was already becoming more selective," she observ still she did offer a glimmer of confidence adding, "The market is always able-bodied for good material; I faith that we will see that again this fall."

Photography exhibits & Auctions

In spite of the economic point to be solved [i]or[/i] settleds the existence of several photography present to views and the establishment of a novel show in a difficult market is perhaps a testament to the nerve of photography. When it approachs to these shows and the upcoming photography auctions at the seminal of recent origin York auction houses, just what does the market direct the eye like this fall; is there reason to be hopeful? Many skilfuls in the field are optimistic.

In fresh York in October, the first incarnation of The Armory exhibit dedicated exclusively to photography will first attempt and this new venue could certainly provide the market with a straited shot in the arm. The 60 dealers who, at pres time, are already committed to the display dearly believe there is enough interest in photography to warrant their participation in an entirely novel venture. According to Saul, the mind plant of the dealers planning to attend is "optimistic."

Like Buckjune De Backer also believes there is always interest in brawny material, and, therefore, her exhibit intends to play to that market puissance "We want to make it gaze beautiful, more like a real art fair--not like a flea market," said De Backer. According to Saul, "people are going to make experiment of to bring their best works to the fair."

Further west, the 12th photo l.a. will be held in January 2003 and Cohen is "hoping to procure a few more dealers for 2003"

Buckjune said Christie's, which will be having its autumn sale upon Oct. 22, is charting a conservative course to battle the tumultuous market. "We are trying to be more discerning in what we proffer We are now more careful." Investors coming without of the stock market and into the photo market will want tried-and-true pieces. For example, Ansel Adams, would be comparable to a blue-chip stock, as oppos to a dot.bomb. As for Adams, Buckjune asserted, "I do not think that his market could be stronger" Similarly, the auction house is including many works in this sale by dint of photographers whose pieces fared well last April--Irving Penn (for whom a record was set) and Edward s Curtis, among them. Just as in Hollywood the confidence here is that one succes will spawn another. To overspread their bets, though, Christie's has a real eyecatcher this season--Helmut Newton's diptych "Sie Kommen (Dress & Naked), Paris." At 63 1/2 by means of 48 inches, these may be the single Newtons of this scale which have at any time been made available, and, as Buckjune wryly observ "he's hot"