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ARTnews Market Brief: Blum & Poe Represents Umar Rashid, Record Set for Tseng Kwong Chi, and More

ARTnews Market Brief: Blum & Poe Represents Umar Rashid, Record Set for Tseng Kwong Chi, and More
Blum & Poe to Represent Umar Rashid, Thornton Dial Estate
Blum & Poe now represents Los Angeles–based artist Umar Rashid and the estate of Thornton Dial . Rashid’s first solo exhibition at the gallery is currently on view at its Los Angeles location. In his new paintings, drawings, and sculptural work, Rashid continues his project centered around a fictitious 16th-century regime that he dubs the Frenglish Empire. The project examines the aftermath of colonial empires. The Alabama-born artist Dial, who died in 2016, rose to prominence in the 1980s by making monumental assemblages of found materials.
Anthony Meier Fine Arts Adds Saif Azzuz to Roster
Anthony Meier Fine Arts has added Libyan-Yurok artist Saif Assuz to its roster. Assuz’s paintings explore the practices of Indigenous land use and the effects of climate change in California. The gallery will debut his work at Art Basel Miami Beach this December ahead of a solo exhibition at the gallery in March 2022.
Tseng Kwong Chi , Jean-Michel Basquiat, New York , 1987.
Record Set for Tseng Kwong Chi in Christie’s $94 M. Day Sale
Last week, a new record was set for photographer Tseng Kwong Chi, a fixture of the 1980s East Village art scene, during a Christie’s postwar and contemporary art day sale in New York. His 1987 photograph of Jean-Michel Basquiat posed in front of an oxidized silkscreened portrait of him by Andy Warhol  sold for $125,000. The result was 8 times the $15,000 estimate. The day sale generated $94 million and set 10 new artists records, including ones for Amy Sillman and Jennifer Guidi.
Yieldstreet Launches Art Equity Fund Aimed at Small Investors
The New York–based financial services firm Yieldstreet has launched a new art equity fund aimed at capitalizing on fractional investments in art. The Art Equity Platform is a portfolio of funds that holds works by postwar and contemporary artists.
David Hammons Limited-Edition Bible Sells for $17,500 at Swann
A limited-edition artist book by David Hammons produced as part of the 2002 project Holy Bible: Old Testament sold for $17,500 at the New York auction house Swann Galleries last week. The work, which features a copy of The Complete Works of Marcel Duchamp by Arturo Schwartz rebound to resemble a Bible, was sold from a private Texas collection. The result was three times the $4,000 estimate—and was far bigger than the sums works from the edition have previously commanded. In 2018, for example, a copy of the book sold for $7,500 at auction.
The Approach Now Represents Kira Freije
The Approach , a gallery in the British capital, now represents the London-based sculptor Kira Freije. Her assemblages relating to the body make use of metalworking, welding, cold forming and glassblowing. Freije’s art is informed by her previous stints working with blacksmiths in Sussex, which she pursued after completing arts degrees at the University of Oxford and the Royal Academy Schools.
Maxfield Parrish Work from Warhol Collection Sells for $3.3 M.
Formerly in Andy Warhol ‘s collection in the 1970s up until the artist’s death in 1987, the American illustrator Maxfield Parrish ‘s landscape The Glen (1936)   sold during a Sotheby’s sale of American art for $3.3 million, twice its $1.5 million estimate. The painting was used as an illustration for a calendar printed in 1938 by the Midwestern publishing company Brown & Bigelow .

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