How Oscar Weekend kicked off a buying wave for LA art collectors

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There is usually a perfect view of the Hollywood Sign from the balcony of what was once Cary Grant’s Spanish Colonial Revival style home in Los Feliz, the hilly Los Angeles neighborhood near Griffith Park. But last Friday was one of the about three dozen days a year when it rains in LA, and the sign was obscured by rolling clouds, nothing visible beyond the hanging gardens that engulf the house.
” It’s done Great let it rain, ”said Jeffrey Deitch, rolling down the stairs of the classic La La Land rectory, which he bought in 2010, passing a wall and numerous sofas in technicolor. “We desperately need it. “
Deitch has spent more time in Los Angeles as he prepares a new 15,000 square foot gallery here for his opening in september—His big comeback to the West Coast after leaving the management of the Museum of Contemporary Art of LA (MOCA) in 2013 — and this particular weekend has been critical. As the Oscars draw near, Los Angeles is the most frenetic, but it’s also a key window for the city’s galleries to present themselves to the big names in entertainment and art collecting – and, of increasingly, to the titans of the tech world – who fly into town for the festivities. And he’s not the only one betting big on LA in early spring. Next year, Los Angeles will officially become a stopover on the world art circuit when Frieze opens a fair at Paramount Studios, which takes place the week before the Oscar festivities, creating a two-week boondoggle for collectors at grab some canvases and hit it every movie night.
Why hasn’t this happened before? Several international art fairs have in fact tried in vain to settle in Los Angeles. FIAC, the Parisian fair which will have its 45th edition in October, was supposed to open an edition here in 2015, but it was first postponed and then canceled. Paris Photo had an LA iteration from 2013 to 2015, but canceled the show after only three years because, as a representative of the parent company Put the, “The level of sales at Paris Photo Los Angeles is not sufficient to support such a Fair and offer our exhibitors the best conditions for return on investment.

But Deitch insists this time is different.

“I was there when Norman Braman was trying to bring Art Basel to Miami Beach, and that’s what it looks like,” said Deitch, walking past the stained glass windows that were built into the house.

“Everyone’s going to come, it’s just going to be a new place on the program – Asian collectors, Latin American collectors,” Deitch said. “People want to be a part of the scene here, they can relax here.”

Los Angeles shares a number of elements that have made Miami such an attractive city for a European-based art fair company. There is a voracious and shameless collector base, young and old, clusters of white-hot galleries, grand mansions with walls to fill, and museums that constantly need to replenish their holdings with fresh material. There is a rich institutional landscape full of planks with deep pockets – the Hammer Museum recently announcement that it has raised $ 133 million of a goal of $ 180 million, LACMA has moved closer to its long-awaited new building with an investment of $ 150 million Don by David Geffen, and the Getty is always attracts new donors although it is the richest artistic institution in the world, with an endowment of nearly $ 7 billion. There are also more recent private museums, such as the Broad (founded by Eli Broad, double the “Lorenzo de ‘Medici de Los Angeles” by the New Yorker) and the Marciano Art Foundation, and George Lucas is building his billion-dollar museum in the city’s exhibition grounds, which is slated to open in 2021.
Frieze may have a better chance of succeeding where others have failed, thanks to an integrated entry into Tinseltown’s Inner Sanctuary: mega-agent Ari Emanuel, whose company Endeavor, a talent and events company. which represents Ben Affleck, Tina Fey and others bought an initially undisclosed slice of Frieze in 2016; Art journal later set participation at 70 percent. Deitch himself is at a degree from Frieze – he is Emanuel’s informal adviser and often curator of exhibitions based on works from Emanuel’s collections. For Emanuel’s famous pre-Oscars party on Saturday night, which Leonardo DiCaprio and Emma Stone attended, Deitch chose works by young artists of color to install at the party, held at a home in Beverly. Hills which once belonged to Paul McCartney. .
In the days leading up to the Oscars, the city’s rapidly intensifying art-social circuit was in full view, with a number of vernissages, dinners, and many works of art sold. The party started on Wednesday, when Guess co-founders Maurice and Paul Marciano hosted a dinner for the opening of ‘s Reality projector (2018) at the private museum they opened last year, located in a former Masonic temple on the outskirts of Koreatown. It was just a preparation for Thursday’s festivities, the opening of the annual Oscar week show at the Gagosian Outpost in Los Angeles.


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