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Past Exhibitions

Recent Acquisitions

(And Some Thoughts on the Current Art Market)

July 11, 2017 - October 13, 2017


The Woman Question

Gustav Klimt, Egon Schiele and Oskar Kokoschka

March 14, 2017 - June 30, 2017


You Say You Want a Revolution

American Artists and the Communist Party

October 18, 2016 - March 4, 2017


Recent Acquisitions

July 12, 2016 - October 7, 2016


Ernst Ludwig Kirchner

Featuring Watercolors and Drawings from the Robert Lehman Collection

March 29, 2016 - July 1, 2016


Paula Modersohn-Becker

Art and Life

November 3, 2015 - March 19, 2016


Recent Acquisitions

(And Some Thoughts on the Current Art Market)

July 21, 2015 - October 16, 2015


Leonard Baskin

Wunderkammer

April 23, 2015 - July 2, 2015


Alternate Histories

Celebrating the 75th Anniversary of the Galerie St. Etienne

January 15, 2015 - April 11, 2015


Marie-Louise Motesiczky

The Mother Paintings

October 7, 2014 - December 24, 2014


Recent Acquisitions

(And Some Thoughts on the Current Art Market)

July 15, 2014 - September 26, 2014


Ilija/Mangelos

Father & Son, Inside & Out

April 24, 2014 - July 3, 2014


Modern Furies

The Lessons and Legacy of World War I

January 21, 2014 - April 12, 2014


Käthe Kollwitz

The Complete Print Cycles

October 8, 2013 - December 28, 2013


Recent Acquisitions

And Some Thoughts on the Current Art Market

July 9, 2013 - September 27, 2013


Face Time

Self and Identity in Expressionist Portraiture

April 9, 2013 - June 28, 2013


Story Lines

Tracing the Narrative of "Outsider" Art

January 15, 2013 - March 30, 2013


Egon Schiele's Women

October 23, 2012 - December 28, 2012


Recent Acquisitions

(And Some Thoughts on the Current Art Market)

July 17, 2012 - October 13, 2012


Mad As Hell!

New Work (and Some Classics) by Sue Coe

April 17, 2012 - July 3, 2012


The Ins and Outs of Self-Taught Art

Reflections on a Shifting Field

January 10, 2012 - April 7, 2012


The Lady and the Tramp

Images of Women in Austrian and German Art

October 11, 2011 - December 30, 2011


Recent Acquisitions

(And Some Thoughts on the Current Art Market)

July 5, 2011 - September 30, 2011


Decadence & Decay

Max Beckmann, Otto Dix, George Grosz

April 12, 2011 - June 24, 2011


Self-Taught Painters in American 1800-1950

Revisiting the Tradition

January 11, 2011 - April 2, 2011


Marie-Louise Motesiczky

Paradise Lost & Found

October 12, 2010 - December 30, 2010


Recent Acquisitions

(And Some Thoughts on the Current Art Market)

July 13, 2010 - October 1, 2010


Käthe Kollwitz

A Portrait of the Artist

April 13, 2010 - June 25, 2010


Seventy Years Grandma Moses

A Loan Exhibition Celebrating the 70th Anniversary of the Artist's "Discovery"

February 3, 2010 - April 3, 2010


Egon Schiele as Printmaker

A Loan Exhibition Celebrating the 70th Anniversary of the Galerie St. Etienne

November 3, 2009 - January 23, 2010


From Brücke To Bauhaus

The Meanings of Modernity in Germany, 1905-1933

March 31, 2009 - June 26, 2009


They Taught Themselves

American Self-Taught Painters Between the World Wars

January 9, 2009 - March 14, 2009


Elephants We Must Never Forget

New Paintings Drawings and Prints by Sue Coe

October 14, 2008 - December 20, 2008


Recent Acquisitions

(And Some Thoughts on the Current Art Market)

June 24, 2008 - September 26, 2008


Hope or Menace?

Communism in Germany Between the World Wars

March 25, 2008 - June 13, 2008


Transforming Reality

Pattern and Design in Modern and Self-Taught Art

January 15, 2008 - March 8, 2008


Leonard Baskin

Proofs and Process

October 9, 2007 - January 5, 2008


Recent Acquisitions

(And Some Thoughts on the Current Art Market)

June 5, 2007 - September 28, 2007


Who Paid the Piper?

The Art of Patronage in Fin-de-Siècle Vienna

March 8, 2007 - May 26, 2007


Fairy Tale, Myth and Fantasy

Approaches to Spirituality in Art

December 7, 2006 - February 3, 2007


More Than Coffee was Served

Café Culture in Fin-de-Siècle Vienna and Weimar Germany

September 19, 2006 - November 25, 2006


Recent Acquisitions

(And Some Thoughts on the Current Art Market)

June 6, 2006 - September 8, 2006


Parallel Visions II

"Outsider" and "Insider" Art Today

April 5, 2006 - May 26, 2006


Ilija!

His First American Exhibtion

January 17, 2006 - March 18, 2006


Coming of Age

Egon Schiele and the Modernist Culture of Youth

November 15, 2005 - January 7, 2006


Sue Coe:

Sheep of Fools

September 20, 2005 - November 5, 2005


Recent Acquisitions

And Some Thoughts on the Current Art Market

June 7, 2005 - September 9, 2005


Every Picture Tells a Story

The Narrative Impulse in Modern and Contemporary Art

April 5, 2005 - May 27, 2005


65th Anniversary Exhibition, Part II

Self-Taught Artists

January 18, 2005 - March 26, 2005


65th Anniversary Exhibition, Part I

Austrian and German Expressionism

October 28, 2004 - January 8, 2005


Sue Coe: Bully: Master of the Global Merry-Go-Round and Recent Acquisitions

(And Some Thoughts on the Current Art Market)

June 8, 2004 - October 16, 2004


Animals & Us

The Animal in Contemporary Art

April 1, 2004 - May 22, 2004


Henry Darger

Art and Myth

January 15, 2004 - March 20, 2004


Body and Soul

Expressionism and the Human Figure

October 7, 2003 - January 3, 2004


Recent Acquisitions

(And Some Thoughts on the Current Art Market)

June 24, 2003 - September 12, 2003


In Search of the "Total Artwork"

Viennese Art and Design 1897–1932

April 8, 2003 - June 14, 2003


Russia's Self-Taught Artists

A New Perspective on the "Outsider"

January 14, 2003 - March 29, 2003


Käthe Kollwitz:

Master Printmaker

October 1, 2002 - January 4, 2003


Recent Acquisitions

(And Some Thoughts on the Current Art Market)

June 25, 2002 - September 20, 2002


Workers of the World

Modern Images of Labor

April 2, 2002 - June 15, 2002


Grandma Moses

Reflections of America

January 15, 2002 - March 16, 2002


Gustav Klimt/Egon Schiele/Oskar Kokoscha

From Art Nouveau to Expressionism

November 23, 2001 - January 5, 2002


The "Black-and-White" Show

Expressionist Graphics in Austria & Germany

September 20, 2001 - November 10, 2001


Recent Acquisitions (And Some Thoughts on the Current Art Market)

June 26, 2001 - September 7, 2001


Art with an Agenda

Politics, Persuasion, Illustration and Decoration

April 10, 2001 - June 16, 2001


"Our Beautiful and Tormented Austria!": Art Brut in the Land of Freud

January 18, 2001 - March 17, 2001


The Tragedy of War

November 16, 2000 - January 6, 2001


The Expressionist City

September 19, 2000 - November 4, 2000


Recent Acquisitions (And Some Thoughts on the Current Art Market)

June 20, 2000 - September 8, 2000


From Façade to Psyche

Turn-of-the-Century Portraiture in Austria & Germany

March 28, 2000 - June 10, 2000


European Self-Taught Art

Brut or Naive?

January 18, 2000 - March 11, 2000


Saved From Europe

In Commemoration of the 60th Anniversary of the Galerie St. Etienne

November 6, 1999 - January 8, 2000


The Modern Child

(Images of Children in Twentieth-Century Art)

September 14, 1999 - November 6, 1999


Recent Acquisitions

(And a Look at Sixty Years of Art Dealing)

June 15, 1999 - September 3, 1999


Sue Coe: The Pit

The Tragical Tale of the Rise and Fall of a Vivisector

March 30, 1999 - June 5, 1999


Henry Darger and His Realms

January 14, 1999 - March 13, 1999


Becoming Käthe Kollwitz

An Artist and Her Influences

November 17, 1998 - December 31, 1998


George Grosz - Elfriede Lohse-Wächtler

Art & Gender in Weimar Germany

September 23, 1998 - November 11, 1998


Recent Acquisitions

(And Some Thoughts About Looted Art)

June 9, 1998 - September 11, 1998


Taboo

Repression and Revolt in Modern Art

March 26, 1998 - May 30, 1998


Sacred & Profane

Michel Nedjar and Expressionist Primitivism

January 13, 1998 - March 14, 1998


Egon Schiele (1890-1918)

Master Draughtsman

November 18, 1997 - January 3, 1998


The New Objectivity

Realism in Weimar-Era Germany

September 16, 1997 - November 8, 1997


Recent Acquisitions

A Question of Quality

June 10, 1997 - September 5, 1997


Käthe Kollwitz - Lea Grundig

Two German Women & The Art of Protest

March 25, 1997 - May 31, 1997


That Way Madness Lies

Expressionism and the Art of Gugging

January 14, 1997 - March 15, 1997


The Viennese Line

Art and Design Circa 1900

November 18, 1996 - January 4, 1997


Emil Nolde - Christian Rohlfs

Two German Expressionist Masters

September 24, 1996 - November 9, 1996


Breaking All The Rules

Art in Transition

June 11, 1996 - September 6, 1996


Sue Coe's Ship of Fools

March 26, 1996 - May 24, 1996


New York Folk

Lawrence Lebduska, Abraham Levin, Isreal Litwak

January 16, 1996 - March 16, 1996


The Fractured Form

Expressionism and the Human Body

November 15, 1995 - January 6, 1996


From Left to Right

Social Realism in Germany and Russia, Circa 1919-1933

September 19, 1995 - November 4, 1995


Recent Acquisitions

June 20, 1995 - September 8, 1995


On the Brink 1900-2000

The Turning of Two Centuries

March 28, 1995 - May 26, 1995


Earl Cummingham - Grandma Moses

Visions of America

January 17, 1995 - March 18, 1995


Drawn to Text: Comix Artists as Book Illustrators

November 15, 1994 - January 7, 1995


Three Berlin Artists of the Weimar Era: Hannah Höch, Käthe Kollwitz, Jeanne Mam

September 13, 1994 - November 5, 1994


55th Anniversary Exhibition in Memory of Otto Kallir

June 7, 1994 - September 2, 1994


Sue Coe: We All Fall Down

March 29, 1994 - May 27, 1994


The Forgotten Folk Art of the 1940's

January 18, 1994 - March 19, 1994


Symbolism and the Austrian Avant Garde

Klimt, Schiele and their Contemporaries

November 16, 1993 - January 8, 1994


Art and Politics in Weimar Germany

September 14, 1993 - November 6, 1993


Recent Acquisitions

June 8, 1993 - September 3, 1993


The "Outsider" Question

Non-Academic Art from 1900 to the Present

March 23, 1993 - May 28, 1993


The Dance of Death

Images of Mortality in German Art

January 19, 1993 - March 13, 1993


Art Spiegelman

The Road to Maus

November 17, 1992 - January 9, 1993


Käthe Kollwitz

In Celebration of the 125th Anniversary of the Artist's Birth

September 15, 1992 - November 7, 1992


Naive Visions/Art Nouveau and Expressionism/Sue Coe: The Road to the White House

May 19, 1992 - September 4, 1992


Richard Gerstl/Oskar Kokoschka

March 17, 1992 - May 9, 1992


Scandal, Outrage, Censorship

Controversy in Modern Art

January 21, 1992 - March 7, 1992


Viennese Graphic Design

From Secession to Expressionism

November 19, 1991 - January 11, 1992


The Expressionist Figure

September 10, 1991 - November 9, 1991


Recent Acquisitions

Themes and Variations

May 14, 1991 - August 16, 1991


Sue Coe Retrospective

Political Document of a Decade

March 12, 1991 - May 5, 1991


Gustav Klimt, Egon Schiele, Oskar Kokoschka

Watercolors, drawings and prints

January 22, 1991 - March 2, 1991


Egon Schiele

November 13, 1990 - January 12, 1991


Lovis Corinth

A Retrospective

September 11, 1990 - November 3, 1990


Recent Acquisitions

June 12, 1990 - August 31, 1990


Max Klinger, Käthe Kollwitz, Alfred Kubin

A Study in Influences

March 27, 1990 - June 2, 1990


The Narrative in Art

January 23, 1990 - March 17, 1990


Grandma Moses

November 14, 1989 - January 13, 1990


Sue Coe

Porkopolis--Animals and Industry

September 19, 1989 - November 4, 1989


The Galerie St. Etienne

A History in Documents and Pictures

June 20, 1989 - September 8, 1989


Gustav Klimt

Paintings and Drawings

April 11, 1989 - June 10, 1989


Fifty Years Galerie St. Etienne: An Overview

February 14, 1989 - April 1, 1989


Folk Artists at Work

Morris Hirshfield, John Kane and Grandma Moses

November 15, 1988 - January 14, 1989


Recent Acquisitions and Works From the Collection

June 14, 1988 - September 16, 1988


From Art Nouveau to Expressionism

April 12, 1988 - May 27, 1988


Three Pre-Expressionists

Lovis Corinth Käthe Kollwitz Paula Modersohn-Becker

January 26, 1988 - March 12, 1988


Käthe Kollwitz

The Power of the Print

November 17, 1987 - January 16, 1988


Recent Acquisitions and Works From the Collection

April 7, 1987 - October 31, 1987


Folk Art of This Century

February 10, 1987 - March 28, 1987


Oskar Kokoschka and His Time

November 25, 1986 - January 31, 1987


Viennese Design and Wiener Werkstätte

September 23, 1986 - November 8, 1986


Gustav Klimt/Egon Schiele/Oskar Kokoschka

Watercolors, Drawings and Prints

May 27, 1986 - September 13, 1986


Expressionist Painters

March 25, 1986 - May 10, 1986


Käthe Kollwitz/Paula Modersohn-Becker

January 28, 1986 - March 15, 1986


The Art of Giving

December 3, 1985 - January 18, 1986


Expressionists on Paper

October 8, 1985 - November 23, 1985


European and American Landscapes

June 4, 1985 - September 13, 1985


Expressionist Printmaking

Aspects of its Genesis and Development

April 1, 1985 - May 24, 1985


Expressionist Masters

January 18, 1985 - March 23, 1985


Arnold Schoenberg's Vienna

November 13, 1984 - January 5, 1985


Grandma Moses and Selected Folk Paintings

September 25, 1984 - November 3, 1984


American Folk Art

People, Places and Things

June 12, 1984 - September 14, 1984


John Kane

Modern America's First Folk Painter

April 17, 1984 - May 25, 1984


Eugène Mihaesco

The Illustrator as Artist

February 28, 1984 - April 7, 1984


Early Expressionist Masters

January 17, 1984 - February 18, 1984


Paula Modersohn-Becker

Germany's Pioneer Modernist

November 15, 1983 - January 7, 1984


Gustav Klimt

Drawings and Selected Paintings

September 20, 1983 - November 5, 1983


Early and Late

Drawings, Paintings & Prints from Academicism to Expressionism

June 1, 1983 - September 2, 1983


Alfred Kubin

Visions From The Other Side

March 22, 1983 - May 7, 1983


20th Century Folk

The First Generation

January 18, 1983 - March 12, 1983


Grandma Moses

The Artist Behind the Myth

November 15, 1982 - January 8, 1983


Käthe Kollwitz

The Artist as Printmaker

September 28, 1982 - November 6, 1982


Aspects of Modernism

June 1, 1982 - September 3, 1982


The Human Perspective

Recent Acquisitions

March 16, 1982 - May 15, 1982


19th and 20th Century European and American Folk Art

January 19, 1982 - March 6, 1982


The Folk Art Tradition

Naïve Painting in Europe and the United States

November 17, 1981 - January 9, 1982


Austria's Expressionism

April 21, 1981 - May 30, 1981


Eugène Mihaesco

His First American One-Man Show

March 3, 1981 - April 11, 1981


Gustav Klimt, Egon Schiele

November 12, 1980 - December 27, 1980


Summer Exhibition

June 17, 1980 - October 31, 1980


Kollwitz: The Drawing and The Print

May 1, 1980 - June 10, 1980


40th Anniversary Exhibition

November 13, 1979 - December 28, 1979


American Primitive Art

November 22, 1977


Käthe Kollwitz

December 1, 1976


Neue Galerie-Galerie St. Etienne

A Documentary Exhibition

May 1, 1976


Martin Pajeck

January 27, 1976


Georges Rouault and Frans Masereel

April 29, 1972


Branko Paradis

December 1, 1971


Käthe Kollwitz

February 3, 1971


Egon Schiele

The Graphic Work

October 19, 1970


Gustav Klimt

March 20, 1970


Friedrich Hundertwasser

May 6, 1969


Austrian Art of the 20th Century

March 21, 1969


Egon Schiele

Memorial Exhibition

October 31, 1968


Yugoslav Primitive Art

April 30, 1968


Alfred Kubin

January 30, 1968


Käthe Kollwitz

In the Cause of Humanity

October 23, 1967


Abraham Levin

September 26, 1967


Karl Stark

April 5, 1967


Gustav Klimt

February 4, 1967


The Wiener Werkstätte

November 16, 1966


Oskar Laske

October 25, 1965


Käthe Kollwitz

May 1, 1965


Egon Schiele

Watercolors and Drawings from American Collections

March 1, 1965


25th Anniversary Exhibition

Part II

November 21, 1964


25th Anniversary Exhibition

Part I

October 17, 1964


Mary Urban

June 9, 1964


Werner Berg, Jane Muus and Mura Dehn

May 5, 1964


Eugen Spiro

April 4, 1964


B. F. Dolbin

Drawings of an Epoch

March 3, 1964


Austrian Expressionists

January 6, 1964


Joseph Rifesser

December 3, 1963


Panorama of Yugoslav Primitive Art

October 21, 1963


Joe Henry

Watercolors of Vermont

May 1, 1963


French Impressionists

March 8, 1963


Grandma Moses

Memorial Exhibition

November 26, 1962


Group Show

October 15, 1962


Ernst Barlach

March 23, 1962


Martin Pajeck

February 24, 1962


Paintings by Expressionists

January 27, 1962


Käthe Kollwitz

November 11, 1961


Grandma Moses

September 7, 1961


My Friends

Fourth Biennial of Pictures by American School Children

May 27, 1961


Raimonds Staprans

April 17, 1961


Gustav Klimt, Egon Schiele, Oskar Kokoschka and Alfred Kubin

March 14, 1961


Marvin Meisels

January 23, 1961


Egon Schiele

November 15, 1960


My Life's History

Paintings by Grandma Moses

September 12, 1960


Watercolors and Drawings by Austrian Artists from the Dial Collection

May 2, 1960


Martin Pajeck

February 29, 1960


Eugen Spiro

February 6, 1960


Käthe Kollwitz

December 14, 1959


Josef Scharl

Last Paintings and Drawings

November 11, 1959


European and American Expressionists

September 22, 1959


Our Town

One Hundred Paintings by American School Children

May 23, 1959


Marvin Meisels and Martin Pajeck

May 1, 1959


Gustav Klimt

April 1, 1959


Käthe Kollwitz

January 12, 1959


Oskar Kokoschka

October 28, 1958


Village Life in Guatemala

Paintings by Andres Curuchich

June 3, 1958


Two Unknown American Expressionists

Paintings by Marvin Meisels and Martin Pajeck

April 28, 1958


Paula Modersohn-Becker

March 15, 1958


The Great Tradition in American Painting

American Primitive Art

January 20, 1958


Jules Lefranc and Dominique Lagru

Two French Primitives

November 18, 1957


Margret Bilger

October 22, 1957


The Four Seasons

One Hundred Paintings by American School Children

June 11, 1957


Grandma Moses

May 6, 1957


Alfred Kubin

April 3, 1957


Franz Lerch

March 2, 1957


Egon Schiele

January 21, 1957


Josef Scharl

Memorial Exhibition

November 17, 1956


Irma Rothstein

May 19, 1956


Käthe Kollwitz

April 16, 1956


A Tribute to Grandma Moses

November 28, 1955


As I See Myself

One Hundred Paintings by American School Children

May 20, 1955


Juan De'Prey

April 19, 1955


Erich Heckel

March 29, 1955


Freddy Homburger

March 2, 1955


Masters of the 19th Century

January 18, 1955


Oskar Kokoschka

November 29, 1954


Isabel Case Borgatta and Josef Scharl

October 12, 1954


James N. Rosenberg and Eugen Spiro

April 30, 1954


Per Krogh

April 2, 1954


Cuno Amiet

February 16, 1954


Eniar Jolin

January 14, 1954


Irma Rothstein

December 8, 1953


Josef Scharl

November 11, 1953


Grandma Moses

October 21, 1953 - October 24, 1953


Wilhelm Kaufmann

September 30, 1953


Lovis Corinth, Oskar Kokoschka and Egon Schiele

May 27, 1953


A Grandma Moses Album

Recent Paintings, 1950-1953

April 15, 1953


Streeter Blair

American Primitive

February 26, 1953


Paintings on Glass

Austrian Religious Folk Art of the 17th to 19th Centuries

December 4, 1952


Hasan Kaptan

Paintings of a Ten-Year-Old Turkish Painter

October 29, 1952


Margret Bilger

May 10, 1952


American Natural Painters

March 31, 1952


Ten Years of New York Concert Impressions by Eugen Spiro; Four New Paintings by

January 26, 1952


I-Fa-Wei

Watercolors of New York by a Chinese Artist

December 1, 1951


Käthe Kollwitz

October 25, 1951


Drawings and Watercolors by Austrian Children

May 21, 1951


Grandma Moses

Twenty-Five Masterpieces of Primitive Art

March 17, 1951


Roswitha Bitterlich

January 18, 1951


Oskar Laske

Watercolors of Vienna and the Salzkammergut

October 14, 1950


Tenth Anniversary Exhibition

Part II

May 11, 1950


Austrian Art of the 19th Century

From Wadlmüller to Klimt

April 1, 1950


Chiao Ssu-Tu

February 18, 1950


Anton Faistauer

January 1, 1950


Tenth Anniversary Exhibition

Part I

November 30, 1949


Autograph Exhibition

October 26, 1949


Gladys Wertheim Bachrach

May 24, 1949


Oskar Kokoschka

March 30, 1949


Eugen Spiro

February 19, 1949


Frans Masereel

January 13, 1949


Ten Years Grandma Moses

November 22, 1948


Käthe Kollwitz

Masterworks

October 18, 1948


American Primitives

June 3, 1948


Egon Schiele

Memorial Exhibition

April 5, 1948


Miriam Richman

February 7, 1948


Vally Wieselthier

Memorial Exhibition

January 10, 1948


Christmas Exhibition

December 4, 1947


Fritz von Unruh

November 10, 1947


Käthe Kollwitz

October 4, 1947


Grandma Moses

May 17, 1947


Lovis Corinth

April 16, 1947


Hugo Steiner-Prag

March 15, 1947


Mark Baum

January 11, 1947


Eugen Spiro

November 25, 1946


Henri de Toulouse-Lautrec

May 17, 1946


Ladis W. Sabo

Paintings by a New Primitive Artist

April 8, 1946


Georges Rouault

The Graphic Work

February 26, 1946


Käthe Kollwitz

Memorial Exhibition

November 21, 1945


Fred E. Robertson

Paintings by an American Primitive

June 13, 1945


Max Liebermann

The Graphic Work

April 18, 1945


Vienna through Four Centuries

March 1, 1945


Eugen Spiro

January 20, 1945


Grandma Moses

New Paintings

December 5, 1944


Käthe Kollwitz

Part II

October 26, 1944


A Century of French Graphic Art

From Géricault to Picasso

September 28, 1944


Max Liebermann

Memorial Exhibition

June 9, 1944


Juan De'Prey

Paintings by a Self-Taught Artist from Puerto Rico

May 6, 1944


Abraham Levin

April 15, 1944


Lesser Ury

Memorial Exhibition

March 21, 1944


Grandma Moses

Paintings by the Senior of the American Primitives

February 9, 1944


Betty Lane

January 11, 1944


WaIt Disney Cavalcade

December 9, 1943


Käthe Kollwitz

Part I

November 3, 1943


Will Barnet

September 29, 1943


Lovis Corinth

May 26, 1943


Josephine Joy

Paintings by an American Primitive

May 3, 1943


Oskar Kokoschka

Aspects of His Art

March 31, 1943


Eugen Spiro

February 13, 1943


Seymour Lipton

January 18, 1943


Illuminated Gothic Woodcuts

Printed and Painted, 1477-1493

December 5, 1942


Abraham Levin

November 4, 1942


Walt Disney Originals

September 23, 1942


Documents which Relate History

Documents of Historical Importance and Landmarks of Human Development

June 10, 1942


Honoré Daumier

April 29, 1942


Bertha Trabich

Memorial Exhibition of a Russian-American Primitive

March 25, 1942


Alfred Kubin

Master of Drawing

December 4, 1941


Egon Schiele

November 7, 1941


Betty Lane

June 3, 1941


Flowers from Old Vienna

18th and Early 19th Century Flower Painting

May 7, 1941


Weavings by Navaho and Hopi Indians and Photos of Indians by Helen M. Post

January 29, 1941


Georg Merkel

November 7, 1940


What a Farm Wife Painted

Works by Mrs. Anna Mary Moses

October 9, 1940


Saved from Europe

Masterpieces of European Art

July 1, 1940


American Abstract Art

May 22, 1940


Franz Lerch

May 1, 1940


Wilhelm Thöny

April 3, 1940


French Masters of the 19th and 20th Centuries

February 29, 1940


H. W. Hannau

Metropolis, Photographic Studies of New York

February 2, 1940


Oskar Kokoschka

January 9, 1940


Austrian Masters

November 13, 1939


RECENT ACQUISITIONS

(And Some Thoughts on the Current Art Market)

July 5, 2011 - September 30, 2011

ARTISTS

Baskin, Leonard

Beckmann, Max

Corinth, Lovis

Dix, Otto

Feininger, Lyonel

Grosz, George

Hirshfield, Morris

Kirchner, Ernst Ludwig

Klimt, Gustav

Kollwitz, Käthe

Moses, Anna Mary Robertson ("Grandma")

Motesiczky, Marie-Louise

Nolde, Emil

Pechstein, Hermann Max

Schiele, Egon

ESSAY

In the movie The Social Network, Facebook founder Mark Zuckerberg must choose between building a steady revenue stream via ad sales or going for a potentially much larger payoff by using venture capital to boost his startup’s reach and thereby its valuation. He selects the latter option. In real life, Facebook recently raised $500 million from Goldman Sachs and a Russian investor, based on a total company valuation of $50 billion: an astonishing 140-times the company’s estimated 2010 earnings. Zuckerberg and Facebook’s initial investors will probably reap their big reward through a future IPO, if they haven’t already done so through the burgeoning secondary market for shares in privately held companies. Whether Facebook or any of the other hot Internet startups, like Twitter, Groupon and Zynga, show a profit over the long term is momentarily irrelevant.

 

During the past decade, the art world has been influenced by a similar hunger for audacious returns. Small galleries act as unwitting incubators for mega-dealers such as Larry Gagosian, who poach promising artists and then raise their prices exponentially almost overnight. Like Facebook, Gagosian’s empire, and the implicit worth of his “stock,” have been enhanced by rapid global expansion: eleven galleries worldwide, churning out some sixty exhibitions per year. The glamorous veneer of all this, according to a dealer quoted in a Wall Street Journal profile of Gagosian, makes buying from him seem a privilege worth any price. Gagosian’s annual revenues are said to exceed $1 billion; the galleries’ net earnings, of course, have never been publicly disclosed.

 

The commodity value of “blue-chip” art is ostensibly affirmed by a certain number of high-profile collectors buying or selling a certain number of high-priced artworks, either through dealers such as Gagosian or at auction. However, it is sometimes debatable whether these collectors, and these sales, actually constitute a full-fledged market for the artists in question. In 2004, hedge-fund mogul Steven Cohen paid a well-publicized $8 million for Damien Hirst’s pickled (and, as it turned out, rotting) shark. In 2007, Hirst upped the ante considerably by offering his diamond-encrusted skull, ironically titled For the Love of God, for $50 million and then, in the space of a few months, capriciously raising the price to $100 million. The skull was subsequently “sold” to a group of investors who included Hirst’s London dealer, Jay Jopling, his business manager, Frank Dunphy, and the artist himself. In 2008, The Art Newspaper revealed that Jopling was warehousing over 200 unsold Hirst objects, including dozens of paintings, six “classic” medicine cabinets and a pickled cow. Shortly thereafter, on September 15 and 16, 2008, Sotheby’s hosted a sale of 223 Hirsts created specifically for that auction. The sale was at the time deemed a major triumph, not only because 218 of the lots sold (many of them to new buyers), but because it seemed to confirm the vitality of the art market in the face of Lehman Brothers’ coincidental declaration of bankruptcy. Subsequently, however, Hirst’s market has become considerably more subdued, and some have questioned whether all the Sotheby’s transactions were actually concluded.

 

Auctions have long been a popular way to pump up the market, because they are public and because most of the key players—the auctioneers, the press and a significant number of dealers—share a vested interest in touting record results and ignoring everything else. The vaunted transparency of auctions is often a fiction. Bidders can easily collude to either depress or raise prices, and secret reserves turn a portion of the bidding process into a theatrical performance. None of this is new, but the amount of money now at stake and the concomitant development of arcane financing arrangements increase the potential for abuse. Guarantees, when funded by the auction house, give the auctioneer an incentive to favor the guaranteed works over others in which the house does not have an interest. Third-party guarantees—in which a collector/investor funds a guarantee in exchange for a share of the profit above the guaranteed amount—offer the guarantor (who is usually allowed to bid) an inside track on the lot in question and a de facto (and undisclosed) discount on the gross selling price if he or she ends up buying the work at the sale. The big-ticket evening auctions are frequently dominated by the same few individuals, acting interchangeably as buyers and sellers. Synergy between a closely-knit group of consignors and bidders is thought to have been responsible for the success of the sale-within-a-sale “curated” by dealer Philippe Ségalot for the auction house Phillips de Pury in November 2010. While the 33 lots in Ségalot’s sale commanded an impressive $117 million, the 26 lots in the remainder of the auction brought only $19.9 million, less than the low estimate.

 

Today’s mega-dealers and their mega-clients reflect the ethos of a new global economy in which a relatively small elite has accumulated vast wealth and sees art as just another asset class, to be traded much like any other investment. The problem is, art does not behave like any other investment. Economists may generate fancy charts to show, say, that the market for Chinese art is rising or declining, but these charts have little bearing on how a specific item will perform. Every art object is unique. For example, in February 2010 an Alberto Giacometti sculpture brought $103.4 million at Sotheby’s, and in May of the same year another sculpture by the artist fetched $53.5 million at Christie’s. However, in February 2011 all the Giacomettis (of lesser quality and with lower estimates than their two predecessors) in the evening sales at Sotheby’s and Christie’s failed to sell. Because the value of a given work is often determined by the subjective judgments and desires of a handful of collectors, art is notoriously illiquid. Art funds have repeatedly tried to solve this problem, but the unpredictable nature of the market makes it hard for any such fund to generate consistent returns. Buying shares in a portfolio of artworks is not necessarily more secure than buying a single work of art, and it is a lot less enjoyable.

 

While art may indeed be a good investment over time, the question is: which art, and how much time? In order to assess an artist’s investment potential, one needs to know not only whether the work has appreciated in the past, but whether there is a collector base large enough to absorb the number of works likely to come to market in the future. This last is a tricky point, because if prices rise too rapidly, the collectors who supported the artist at price “a” may be unwilling to step in at price “b.” That is why dealers, as a rule, like to feed works into the marketplace slowly, and to increase prices gradually, judiciously balancing supply and demand. Simultaneously, dealers try to enhance the artist’s reputation by encouraging scholarship and placing works in major museum and private collections. Ideally, an artist’s market value should reflect his or her art-historical stature. Since it takes time to build a lasting critical consensus and a solid market, art has tended to appreciate (if at all) relatively slowly. Crucially, however, the collections that have in the past appreciated most were not formed with investment in mind. Passionate engagement with the art would seem to be a more significant prerequisite for cultivating the aesthetic discernment and knowledge necessary to make wise choices.

 

A great many dealers and collectors still operate according to the preceding, tried-and-true principles. This contingent is, in fact, the core of the art market, more numerous and cumulatively better funded than the high-profile players who bat expensive artworks back and forth among themselves like so many ping-pong balls. During the recent boom, the latter group pushed prices up for everyone, but now that casual speculators have been driven from the field, the machinations of would-be market manipulators stand out in harsh relief. While auctions generate a handful of stellar results, the once glamorous evening sales have become comparatively lackluster. The shrunken market makes it difficult for auctioneers to sustain a continuous stream of multimillion-dollar bids. This sets up a vicious cycle, wherein consignors become reluctant to sell at auction, prompting the houses to offer unrealistic estimates, which increase the buy-in rate and hence the reluctance to consign. Yet the core of the market remains solid—perhaps more solid than it has been in years. Dominated by buyers who understand both quality and value, present circumstances encourage, indeed require, sellers to price works appropriately.

 

The question is: will these more sober attitudes hold, or will speculative excess once again permeate the art market as the economy recovers? The financial crisis, which propelled millions to the brink of bankruptcy and beyond, has only served to further concentrate the remaining wealth at the top. Free-marketeers claim that markets are self-correcting, automatically apportioning risk and reward, but during the boom investors figured out ways to off-load the risks while retaining the rewards. Beneficiaries of this rigged game, many financial winners now long for its continuation. Present economic circumstances recall Woody Allen’s joke about the man who thinks he’s a chicken. Otherwise sane people support his delusion, because they want the eggs.

 

 

The Galerie St. Etienne, in business for over 70 years, has always taken the long view, attempting to foster fundamental values and a knowledgeable collector base. Continuing our tradition of scholarship, the gallery’s co-director Jane Kallir this year curated the exhibition "Egon Schiele: Self-Portraits and Portraits" for the Belvedere Museum in Vienna. Simultaneously, at home in New York, we organized the highly acclaimed show, “Decadence and Decay,” featuring the work of Max Beckmann, Otto Dix and George Grosz. As a result, our summer offerings include a spectacular selection of rarely available Dix watercolors and drawings, among them the Cubo-Futuristic Portrait of a Woman in Profile, the harrowing Head I (Mrs. D.) and the comparatively demure Rachel I. These are complemented by Grosz drawings depicting a panoply of Weimar-era characters, from the carousing fat-cats in Skat Sketch, to the dying worker in Let Those Swim Who Can—the Heavy May Sink (a famous, frequently reproduced image).

 

In tandem with the Museum of Modern Art’s outstanding exhibition “German Expressionism: The Graphic Impulse” (on view through July 11), we recently acquired a number of highly sought-after prints. Etchings from Dix’s well-known cycles War and Circus are joined by rare, early images like his Old Woman at the Café and Pregnant Woman. Also on view are several virtually unique woodcut proofs by Lyonel Feininger (the subject of an ongoing retrospective at the Whitney Museum of American Art) and prints by Beckmann, E.L. Kirchner, Käthe Kollwitz, Otto Mueller, Emil Nolde, Hermann Max Pechstein, Egon Schiele and Karl Schmidt-Rottluff. An impressive selection of bronzes by the American sculptor Leonard Baskin demonstrates a kindred sensibility.

 

Another highlight of the Galerie St. Etienne’s summer exhibition is a stellar group of drawings by Gustav Klimt, including many studies for major oils, some of them enhanced with color. Foremost among these is the newly rediscovered large-format ink drawing Fish Blood, which had seemingly vanished after being exhibited at the Vienna Secession in 1903. Klimt’s acolyte Schiele is represented in our show by several important drawings, among them a remarkably humanistic portrait of his lover, Wally Neuzil (made famous by a recently settled restitution dispute over a related oil), and a chilling double portrait, Embrace, depicting the artist with his bride, Edith.

 

In 2010, we were pleased to introduce to the market a "new" Expressionist, Marie-Louise Motesiczky. Motesiczky was a student of Max Beckmann and a lover, for over 50 years, of the Nobel laureate Elias Canetti. Born into a prominent Jewish aristocratic clan that once formed the financial and cultural backbone of the Austro-Hungarian Empire, she was driven into exile by the Nazi Anschluss in 1938. Paintings like Self-Portrait in Straw Hat and Self-Portrait in Black are among the artist’s most iconic works, depicting an elegant woman whose strong sense of identity helped her surmount unimaginable difficulties. Two portraits of Motesizcky’s mother, Henriette Motesizcky I, painted in 1929, and Mother in Green Dressing Gown, done in 1975, document not just the aging process, but the enduring interplay of loss and resilience. Upon her death in 1996, Motesiczky (who during her lifetime refused to part with her art) bequeathed her estate to the Marie-Louise von Motesiczky Charitable Trust, which has to date sponsored a biography, a catalogue raisonné and a European traveling exhibition. As the Trust’s representative, the Galerie St. Etienne mounted Motesiczky's first American exhibition last year and has organized a similar show at the Viennese gallery Wienerroither & Kohlbacher (through July 31). The New York Times called Motesiczky’s New York debut "a shock and a treat," suggesting that it would change our view of modern art history.

 

The Galerie St. Etienne’s other field of specialization, work by self-taught artists, is likewise undergoing a period of reassessment. In our January exhibition, Self-Taught Painters in America, 1800-1950 (organized in cooperation with the Bennington Museum), we examined the various forces that conspired to segregate this branch of art from the mainstream over the course of several centuries. These forces are now waning, making it easier to focus on the quality, development and contexts of the individual creators. While much secondary material may fall by the wayside in the process of reevaluation, it is to be hoped that the best self-taught artists will, at long last, take their place as equals alongside their schooled colleagues. We are delighted in our summer show to offer work by two time-tested self-taught painters, Morris Hirshfield and Grandma Moses. Hirshfield’s American Beauty is one of the artist’s great drawings, a full-scale imagining of the related painting that stands as an independent work in its own right. Our visitors will also have the opportunity to view three classic Grandma Moses snow scenes, We Have a Turkey, Stone Boat and Get Along.