Everyone who is anyone in the art world was in London last week for a series of sales and fairs.
The trouble is, too many collectors left their checkbook behind in the clearest sign yet that the global financial crisis has finally caught up with the art world. Experts warn that things are likely to get tougher.
A far bigger test for a market which had largely defied the gravity of economic gloom comes next month, when Sotheby’s and Christie’s, the two dominant auction houses, hold major sales in New York. The Art Basel Miami Beach show follows in December.
“Now is not a brilliant time to be selling — people are facing such a complicated financial situation they are not prepared to do anything,” said Philip Hoffman, chief executive of the Fine Art Fund Group.
“The market place is much tougher, and in light of what’s happened in the financial markets, the art market cannot be immune to it. Liquidity is tighter everywhere.”
I think Sotheby’s and Christie’s will undoubtbly be effected by the Down Economy.
But like anything, if the price is right, now is the time to be buying.
The Rest is Up to You…
Michael Porfirio Mason
AKA The Peoples Champ
AKA Your favorite International Playboy’s, favorite International Playboy
The Guide to Getting More out of Life
http://www.thegmanifesto.com
Most men are born timid, chances are — you were too. Most societies across the world today have promoted a culture of political correctness, conflict aversion, trend following, and a desire to be liked by all. And this isn’t entirely a bad thing. Going down this path will get you an OK house in the suburbs with a plain wife, 2.5 kids, and a dog named Spot. If this is a lifestyle you desire, stop reading now. For my real and aspiring G’s, please continue…
Bold Men Have Wills of Steel
One of my favorite UFC Fighters when I had time to watch TV was Tito Ortiz. The guy was a beast unleashed and if you had the misfortune of getting in his way when he was on a rampage, you were going to pay. He had a quote, which I try to live by that says: “RESPECT: I don’t earn it; I just fuckin take it!” But even as much as I admired the rawness of this cat, there’s another lesser known UFC Fighter who was a true man of boldness. Lee Murray. Let that name marinate for a bit.
Back in 2002, outside a London nightclub, Tito and Lee exchanged words, which eventually led to blows. Tito let out a left-right combo which both missed Lee. Lee then followed up with a 5 punch combo that knocked Tito the fuck out. COLD.
If that was the end of the story, he’d be an interesting side note in UFC history. But its what Lee did after which really impressed me with the strength of this man’s character (whether you agree with the DIRECTION of his character is another matter altogether).
In 2006, Lee was the alleged (ha! I love this word) mastermind behind the 53 million Pound CASH robbery from a British bank (about $100M US). He then fled to Morocco, which coincidentally(?) has no extradition treaty with England. The British gov’t has been coming after Lee since the robbery, but the Moroccan gov’t has steadily refused to give up Mr. Murray. (Side note: There are two women I have ever met that have given me the “Thunderbolt”, one was Moroccan.)
Lesson: I’m not recommending anyone going out and pull heists. Most people who try this would probably drop the ball and end up behind in the back seat of a squad car. What I DO recommend is that you find where you have an edge and adopt a mentality with an will of steel that was required for Lee to pull off what’s he’s done…while he was STILL in his 20’s. You have to have an unbendable vision of what you want, and anyone that stands in your way has to be dealt with accordingly.
Caution: Boldness without planning, boldness without information is leveraged stupidity. Do NOT do this. This is like doubling down when you have no edge. You will lose. Notice that Lee had a well executed after plan. Unlike many of the smash and grab low level criminals you find in major cities, he didn’t go back to his apartment or his mom’s house. He got out the country and went to a non-extradition country.
To win at chess, you have to see several moves ahead and anticipate your opponent’s move. If you don’t have the wisdom, the time, the STRENGTH OF WILL, and/or the balls to do this, stick to Checkers.
In 1925, 5 highly successful scrap metal dealers in France were invited to an official and highly confidential meeting with the “Deputy Director General of the Ministry of Post and Telegraphs” at the Hotel Crillon, then the most luxurious hotel in Paris. (Imagine this). The men had NO idea why they were invited and were overwhelmed with curiosity. Eventually, the director stepped into the room and addressed the men. He told the men that the French Government had decided to tear down the Eiffel Tower . Maintenance costs were too high, the gov’t was in debt and simply wouldn’t put up the money to upkeep it. At the time (this was in the 1920’s) Parisians thought the tower was a boondoggle, and eyesore, so this plan made sense at the time. The dealers saw this as a golden opportunity and saw they could make a killing selling the scrap metal on the open market.
The director invited all five men to propose bids on the project. Each of the 5 put in high bids hoping they would be the one to edge out the others and get this lucrative contract. After all the bids came in, it turns out Mr. P, one of the 5 dealers had the highest bid. He was invited to come back to the hotel with a certified check for 250,000 francs (about $1M today) to make a 25% downpayment on the total deal. After the deal was wrapped up, Mr. P waited, and waited….and waited to hear back from the director. He never heard back from him again. It turns out there was no such position as a “Deputy Director General of the Ministry of Post and Telegraphs” and that the government had no plans to tear down the Eiffel Tower!!
Lesson: The Director’s, real name, Count Victor Lustig, was a con artist extraordinaire, and he won big because he thought big. He had the BALLS to have a vision so extraordinary, that no one ever thought to question it. He even played the role of a government official to a T, having the creativity to even ask the winner of the bid for a small bribe to establish believability. Great men of history see beyond what others think impossible. Could you sell the Eiffel Tower?
Block the Vote: Rolling Stone, Robert F. Kennedy Jr. and Greg Palast
Allegations of voter fraud are only the latest rationale the GOP has used to disenfranchise voters — especially blacks, Hispanics and others who traditionally support Democrats. “The Republicans have a long history of erecting barriers to discourage Americans from voting,” says Donna Brazile, chair of the Voting Rights Institute for the Democratic National Committee. “Now they’re trying to spook Americans with the ghost of voter fraud. It’s very effective — but it’s ironic that the only way they maintain power is by using fear to deprive Americans of their constitutional right to vote.” The recently enacted barriers thrown up to deter voters include:
1. Obstructing Voter-Registration Drives
Since 2004, the Bush administration and more than a dozen states have taken steps to impede voter registration. Among the worst offenders is Florida, where the Republican-dominated legislature created hefty fines — up to $5,000 per violation — for groups that fail to meet deadlines for turning in voter-application forms. Facing potentially huge penalties for trivial administrative errors, the League of Women Voters abandoned its voter-registration drives in Florida. A court order eventually forced the legislature to reduce the maximum penalty to $1,000. But even so, said former League president Dianne Wheatley-Giliotti, the reduced fines “create an unfair tax on democracy.” The state has also failed to uphold a federal law requiring that low-income voters be offered an opportunity to register when they apply for food stamps or other public assistance. As a result, the annual number of such registrations has plummeted from more than 120,000 in the Clinton years to barely 10,000 today.
2. Demanding “Perfect Matches”
Under the Help America Vote Act, some states now reject first-time registrants whose data does not correspond to information in other government databases. Spurred by HAVA, almost every state must now attempt to make some kind of match — and four states, including the swing states of Iowa and Florida, require what is known as a “perfect match.” Under this rigid framework, new registrants can lose the right to vote if the information on their voter-registration forms — Social Security number, street address and precisely spelled name, right down to a hyphen — fails to exactly match data listed in other government records.
There are many legitimate reasons, of course, why a voter’s information might vary. Indeed, a recent study by the Brennan Center for Justice found that as many as 20 percent of discrepancies between voter records and driver’s licenses in New York City are simply typing mistakes made by government clerks when they transcribe data. But under the new rules, those mistakes are costing citizens the right to vote. In California, a Republican secretary of state blocked 43 percent of all new voters in Los Angeles from registering in early 2006 — many because of the state’s failure to produce a tight match. In Florida, GOP officials created “match” rules that rejected more than 15,000 new registrants in 2006 and 2007 — nearly three-fourths of them Hispanic and black voters. Given the big registration drives this year, the number could be five times higher by November.
Michael Porfirio Mason
AKA The Peoples Champ
AKA Your favorite International Playboy’s, favorite International Playboy
The Guide to Getting More out of Life
http://www.thegmanifesto.com
Blocking the vote Rachel Maddow Robert F. Kennedy Jr
We asked Anda Rowland, owner of Anderson & Sheppard, which recently celebrated its 100th anniversary, what the outlook is for the Row’s traditional tailoring firms.
“We are still getting new customers and many enquiries, but it has to be said that London is not really in the mood to spend and people are traveling [to London] less,” Rowland tells Luxist. “Luckily, despite the turn away from ‘bling’ spending, there has been a renewed interest in goods that have an underlying value, which is perceived as more solid and easier to understand and to explain to the customer. There is a shift from the ‘Because I’m worth it’ attitude towards one questioning ‘Was it worth it?'”
Asked about the influx of money from emerging markets, “Speaking for Anderson & Sheppard, we have not seen a growth in customers from Russia or from the UAE,” she replies. “We have had more press interest, but it has not filtered through to visits yet. China and India are growing markets [for us] due, perhaps, to a historical familiarity with the history and tradition of Savile Row.” As for the future, “I have heard from the other tailors that they believe that their trips abroad will be more and more important over the next couple of years,” Rowland says. “They feel that customers will be traveling far less and that overseas service will help them to keep the workshops busy and running efficiently.”
Summing up, Rowland, who inherited the business a few years back from her father, is optimistic. “As a relative newcomer to this industry where most houses are at least 100 years old, I am reassured by the reaction of most tailors who say that their firms have seen it all several times before,” she tells us. “I can imagine that for many of the big designer brands that are much younger, it is harder to be as quietly confident as we are on Savile Row.”
With the falling pound, it is time to pick up some more Savile Row Suits.
Worth their weight in Gold in a Down Economy. A flight to quality if you will.
The Rest is Up to You…
Michael Porfirio Mason
AKA The Peoples Champ
AKA Your favorite International Playboy’s, favorite International Playboy
The Guide to Getting More out of Life
http://www.thegmanifesto.com
