Discerning Eye: Richard Wright
April 2007
CHICAGO—Seven years ago, Richard Wright and his wife, Julie, opened an auction house
emphasizing 20th-century design by Charles and Ray Eames and George Nelson. That first year, they recorded a modest $400,000 in sales. In 2006, the trailblazing Wright hammered down a staggering $24,845,707. Now he regularly scores world-record prices such as $192,000 for a Harry Bertoia untitled (“Tree Form”) sculpture this past December. And design enthusiasts still are talking about the $630,000 price at Wright for a marble-topped Isamu Noguchi table in December 2005, a world record for any work of mid-century American design. Now Wright is exploring new sales categories, such as architecture: In December 2006, he sold Pierre Koenig’s 1958 steel-and-glass “Study House #21,” situated in the Hollywood Hills, for $3.2 million. At that same sale, a 1958 Porsche 356 Speedster went for $132,000. Small wonder then that Wright’s new location on the West Loop is 60,000 square feet—triple the size of his prior premises.
In less than a decade, he has boosted his client roster with collectors in Hong Kong, Tokyo, Sydney and London, proving how this Chicagoan has achieved a pivotal position on the global radar screen.MOST IMPORTANT FIND
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Pierre Koenig, “Study House #21,” 1958, |
Probably our most important item was the Isamu Noguchi marble coffee table from 1948. This piece was sold to an important private collector, outbidding several institutions. Museums are an important factor in the market, but they are not the ones driving the prices to the highest levels. Passionate and deep-pocketed collectors are the real force of the market.
MOST PROMISING DESIGNER WORKING TODAY?
I like the designs of Marten Baas. He is young and his work is still accessible. So far he has created two major lines: his burnt furniture of iconic 20th-century design and his clay furniture series. He is one to watch. Marcel Wanders and the
Campana Brothers [see “Out of the Woods,” Art & Antiques, Feb. 2007] are at the top of their games and their work is not over-priced.
YOUR FAVORITE DESIGNER?
As out-of-fashion as it is to say, Charles and Ray Eames will always be among my true design heroes. Every interior should have a piece; it always works and is true design. I just bought a chair by Michele Oka Doner. She is at the other extreme—a real artist. The seat and back are cast coral forms in silvered bronze. It is very sexy and magical. Her work is a smart buy if you can find it. We bought a pair of clay side chairs by Baas from Moss in SoHo. We love them—and you cannot go wrong following Murray Moss.
WHAT MUSEUM EXHIBITION RESONATED WITH YOU?
The Los Angeles County Museum of Art’s exhibition “Magritte and Contemporary Art: The Treachery of Images.” I thought I knew Magritte’s work—which to me is filled with visual puns—but the show allowed me to see it afresh and to appreciate the huge influence his work has had on both contemporary and conceptual artists such as Johns, Gober and Koons. They all owe a debt to the modest Magritte.
BIGGEST IMPACT ON THE COLLECTING OF 20TH-CENTURY DESIGN
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Harry Bertoia, untitled (“Tree Form”), c. 1965, copper with applied patina, sold for $192,000 this past December. |
The mixing of contemporary design with the classics is the biggest story unfolding now. Contemporary design is being marketed like contemporary art and that includes auctions selling the hot designers for high prices. The price points for new design, such as works by Marc Newson, are having an effect on the 20th-century market. Look at the Design Miami fair where so much limited-edition contemporary furniture was sold. So now you can see all the traditional 20th-century dealers going after the new paradigm—limited-edition contemporary art furniture at serious price points like $50,000. This is a whole different world from three years ago.
YOUR NEXT PURCHASE?
Remains to be seen—although we are looking for just the right dining table.
FUTURE PLANS FOR YOUR COLLECTION?
We don’t have an agenda, but are always looking.
YOUR FAVORITE ACCOMPANIMENT TO 20TH-CENTURY DESIGN?
Great art from any time. I don’t like matching the art to the furniture in terms of particular periods. There is almost always a dialogue to be found in high-quality pieces from nearly any style.
MOST VALUABLE ADVICE
Information is the most valuable commodity to a collector. Buy want you love and learn about what you buy. Learning and understanding about the designer, his body of work and the period adds so much to the experience.