A Greek person but an Italian artist; a self given title

The global art market has once again shown its resilience in the face of high interest rates, inflation, and political instability. Sales channels for art remain wide, ranging from auctions, to online, to private sales.

For the owner or potential buyer of a masterpiece, auctions remain wonderful places to buy and sell truly unique original paintings. But private sales will always be the world’s most exclusive sales channels. Be it a private auction, an estate sale, or simply sharing your collection that has been in your family’s hands for generations with the world. 

You might be wondering why we are shedding light on private sales. Tomorrow, we are introducing a brand new art medium for us to our community, art sculptures. We acquired our very unique piece from the private sale of a very prominent art collector.  In private sales, prices are generally more stable and predictable. Auctions can be highly competitive, driving prices up, sometimes beyond the actual market value. Buying sculptures through private sales can often be advantageous because you might secure pieces at prices lower than the market value; as we did in our case.

We got lucky

We stumbled upon a private collection as we were browsing the globe for a Jannis Kounellis sculpture; and we were able to purchase this piece below market value. In the world of contemporary art, few artists have left as indelible a mark as Jannis Kounellis. He was born in 1936 in Piraeus, Greece, and considers himself to be “a Greek person but an Italian artist." He moved to Italy in 1956 and studied at the ‘Academia di Belle Arti’ in Rome, where he has his first solo show, titled L’alfabeto di Kounellis, at the Galleria la Tartaruga, Rome, in 1960. He passed away in Rome in 2017.

Kounellis made his debut at the Venice Biennale in 1972, followed by solo exhibitions in various European museums in the same year, including the Stedelijk Van Abbemuseum in Eindhoven, the Whitechapel Art Gallery in London, and the Caja de Pensiones in Madrid. Significant exhibitions were at Musée National d'Art Moderne de la Ville in Paris in 1980, the CAPC in Bordeaux in 1985, and more.

The emotional and intellectual depth of Kounellis's sculptures sets them apart in the art market. His works often evoke a profound sense of nostalgia, loss, and resilience, themes that are universally relatable. This emotional resonance is a testament to his skill as an artist and ensures that his sculptures continue to engage and move audiences long after their creation.

Arte Povera

Kounellis, a key figure in the Arte Povera movement; which literally means poor art, revolutionized the art world by using unconventional materials such as iron, stone, burlap, and coal. His sculptures often incorporate these raw materials, creating a powerful dialogue between nature and human creativity. This distinctive approach not only challenges traditional notions of sculpture but also resonates with contemporary audiences who appreciate innovation and originality. Kounellis’s sculptures are deeply embedded in the socio-political contexts of their creation. Born in Greece and working primarily in Italy, his art reflects a synthesis of Mediterranean culture and the industrial transformations of the 20th century. This blend of influences results in works that are both timeless and deeply reflective of their era, making them invaluable pieces for those interested in the intersection of art and history.

Jannis Kounellis is currently being celebrated at one of if not the most prominent art exhibitors in the world; Tate Gallery London. “Jannis Kounellis turns familiar materials, charged with history and meaning, into poetic assemblages.”  If you are in London, you can’t miss this. The works are displayed until September 8th, 2024. Find more information here. 

Tomorrow at Splint Invest

Known for his profound and evocative sculptures, Kounellis's work transcends mere aesthetics, embodying a deep philosophical inquiry into human existence, culture, and history. Jannis Kounellis's work has been offered at auction multiple times, with realized prices ranging from 28 USD to 2,072,419 USD, depending on the size and medium of the artwork. Since 1998 the record price for this artist at auction is 2,072,419 USD for Untitled, sold at Christie's London in 2014.

The magnificent piece we are offering for investment tomorrow by Kounellis is offered at a remarkable 49% discount from recent auction results for comparable pieces in size and materials. This provides a significant return potential over the next three years.

Jannis Kounelli, Untitled, 1983

This piece has an annual potential of +23.6%. 3,027 Splints will be available tomorrow at 9:00 CEST.

This beautiful work, "Untitled", embeds history, poetry, and politics in a collection of tactile fragments that elegantly elegizes the fragmentation of Europe in the aftermath of World War II. As with many of Kounellis's works after 1975, the present takes the form of a tableau arrangement of different components. In "Untitled", the soft leaden surface of the curved form is juxtaposed with its bordering edges of rough-hewn burlap. Often, individual parts of Kounellis's creations are works that had lived lives before being combined. Here, Kounellis practices his philosophy of "interruption" by interrupting an arranged grouping of objects with a symbol of creative achievement: a tin can. Here, the bright tin can seems reminiscent of American contemporary artist, Jasper Johns. Both Johns and Kounellis came of age in the immediate postwar moment. Johns in New York and at Black Mountain College, where, with Robert Rauschenberg and Cy Twombly, he would introduce a diverse range of media and material innovations to his own practice.

 In the same moment, Kounellis, having left his native Greece, honed his aesthetic in Rome, where, with Mario Merz, Michelangelo Pistoletto, Alighiero Boetti, and Giovanni Anselmo, he became a formative participant in developing a style that would be known as Arte Povera (translating to ""poor art"). Kounellis pioneered the use of everyday materials, like the lead, burlap, and tin can implemented here, harnessing their poetic and expressive potential. As the artist proclaimed: "I want the return of poetry by all means available" (J. Kounellis, quoted in Jannis Kounellis, exh. cat., Athens, 1994, p. 1).