CHELSEA ART: The New Thirty-Something Block ... - ARTisSpectrum

New Gangs of GalleristsSheri Pasquarella, a young art consultantand private dealer, invested in a 27th Streetspace that once held the Tunnel nightclubuntil 2001. Several young art galleristsmoved their businesses from other partsof the city to a series of old loading docksalong the south side of the former Tunnelsite. Wanting to create an instant destinationlocation, Pasquarella led the exodusof emerging-artist dealers to a promisedland of barren street-level spaces betweenEleventh and Twelfth Avenues. OliverKamm Gallery, Foxy Production, DerekEller Gallery, ClementineGallery, John Connelly Presentsand Wallspace are nowlocated here. This has addedup to be just one of the mostconcerted efforts at expandingChelsea’s gallery scenesince the art world beganabandoning SoHo for theWest Side in the mid-1990s.others in their thirties have plunged intothe world of contemporary art. Duringrecent years, as world economies waned,prices in the closely watched top 2% ofthe contemporary-art market were up to72%, according to London-based Art MarketResearch. In contrast, prices of top-tierworks in the Old Masters and French Impressionistmarkets fell by 40% and 29%.Christopher Apgar, a young financialadviser, owns works ranging from Jean-Michel Basquiat, the graffiti artist whobecame an eighties phenomenon, to asilkscreen of Marilyn Monroe by AndyNew Art NetworksSocial networks for thirtysomethingsin the arts is onthe upswing. The Young Associatesis one of the newsocial art groups started inChelsea by a museum space.The Chelsea Art Museumprogram looks to connectyoung people with NewYork’s emerging art community,creating an energeticpresence in the growth ofthe museum and a network of innovativethinkers within the arts. The group targetsrecent graduates and young professionalswho would like to learn more about art inan intimate atmosphere that can be providedby a smaller museum. They interactwith museum curators, meet artists fromNew York and create a forum within theframework of the Chelsea Art Museumfor networking with other young people inthe field. They organize special after partiesfollowing exhibition openings, curator-led art tours, gallery tours, talks withgallery owners, artist studio visits, invitationaltalks on trends in contemporary art,previews of auctions, and holiday parties.Innovative InvestorsGet out your auction paddles. A newgeneration of collectors, hedge-fundmanagers, technology entrepreneurs andWarhol. His current hunt is for artisticcreations by Gregory Crewdson, a photographerwhose work includes promotionalshots for the HBO series “Six Feet Under,”and Vic Muniz, known for making sculpturesof iconic figures out of chocolate andthen photographing the pieces.Most young and new collectors havelittle interest in the Old Masters that captivatedthe previous generation. Part of thereason for the aversion is the astronomicalprices they command. Contemporaryworks are less expensive and are morelikely to double in value in a short period.And today, a young collector doesn’tneed to spend millions of dollars on a vanGogh to earn the respect of peers. Theyshow they are in touch with the contemporaryart world by buying up works of newcontemporary artists and appearing in thegallery social scene.And while new collectors may be approachingthe art market as if it were amarketing venture of capital investments,there is no guarantee that the payoff willbe as lofty. The art market can be volatile.The collecting quirks and interests of contemporaryart lovers drive the market. Ifa few collectors love ocean scenes, pricesrise while less favored desert paintings remainbargains. Fluctuations can differ dueto different collectors entering and leavingthe art market at various times. The resultis an artist may be “hot” for a few yearsand when prices plateau and rise again; anothercollecting generation seizes the artist’sworth. The art industry urges youngpeople to buy for personal enjoyment andnot just a quick profit.The lifestyle of today’s new collectorsis not about ball gowns and expensivejewelry. It is all about walking aroundyour home in sweat pants talking with afriend on the cell phone about the contemporaryart plastered on the walls that youlook at and appreciate. It is about computers,blackberry’s, ipods, and ibooks. Mostof all, it is about texting your friends forthe next social gathering at a Chelsea artgallery opening on Thursday evening.Donna Clovis is an artist and finalist forthe Pulitzer Prize in Feature Writing9 ArtisSpectrum