The George Lindemann Journal by George Lindemann

By JOANNE LEE-YOUNG

Photographs by Philipp Englehorn for The Wall Street Journal

The living area

Hong Kong

After graduating from Cornell University's architecture school, friends Kevin Chin-Kwok Lim and Edward Yujoong Kim moved to Hong Kong, one of the priciest real estate markets on earth. Mr. Lim, 26, who grew up in the city, moved back in with his parents and grandmother. Mr. Kim, 27, stuffed himself and his girlfriend into a 180-square-foot apartment.

Fortunately the duo also hold the keys to a 3,900-square-foot warehouse loft that has evolved into an office, exhibition space and place to stretch out, entertain and relax.

This is not a fancy condo conversion. The loft is on the 19th floor of a working warehouse in an industrial part of Hong Kong. Visitors have to steer around stacked cartons and workers pushing bags of chemical powders into service elevators. It's dank and charmless until an aluminum door slides open to reveal a huge open space with white ceilings, walls and light tiled floors.

Mr. Lim's father, William Lim, 54, a Hong Kong-based architect, artist and art collector, bought the loft in November 2010 for $1 million. He used to rent three separate spaces: an art studio, an apartment for storing his collection and another to show it off. When he saw this place, it was a chance to consolidate. He estimated spending about $142,000 to renovate.

There are few walls. A modern kitchen is at the left; a beige sofa and coffee table made from flatbed trolleys topped with acrylic carves out a living area. A large table, a few chairs and a giant, orange floor lamp in one corner marks the office. A long, glass-enclosed balcony seals out much of the noise from a massive pit below filled with cranes, dump trucks, cement mixers and bulldozers, constructing a new subway station.

Photos: Industrial Living in Hong Kong

On the 19th floor of a working warehouse, a vast loft serves as a multi-purpose hangout.

Philipp Engelhorn for The Wall Street Journal

After graduating from Cornell University's architecture school, friends Kevin Chin-Kwok Lim and Edward Yujoong Kim moved to Hong Kong, one of the priciest real estate markets on earth.

The loft's centerpiece and main sleeping area is a striking 20-by-13-foot rectangular structure. It's made up of 163 pieces of plywood fit together with tongue-and-groove notches and painted black. The result a grid of cubbyholes filled with art books and collectibles, like a polka dot paperweight by Japanese artist Yayoi Kusama. The books are laid flat, allowing light to flow through the structure. "The idea was to create a space without using walls," said the younger Mr. Lim, who designed the piece with Mr. Kim and Eddy Man Kim, their third partner who is planning to move to Hong Kong soon.

Within the structure is about 290 square feet of den-like space holding a sofa, small rugs and stacks of DVDs and books. Further into this space, wide, bleached-wood steps lead to a flat platform level that can be topped with cushions and used as beds.

If they are working late into the night, the young architects might toss a tatami mat or thick piece of foam on top of the structure and crash. There is another snoozing spot on the outside edge of the structure, and the men recently placed a thick piece of plywood in a top corner, giving the option of making a loft bed there too.

"When you wake up, it feels like you are on the sea," said Zhang Wei, a Guangzhou-based curator who was an overnight guest on a recent trip. She and her husband piled blankets and pillows onto the structure for a bed. "It's like being on an island because the space around is so huge."

On the far other side of the loft, the space turns into an art gallery. There is a sculpture in the shape of a plate folded in half, by mainland Chinese dissident artist Ai Weiwei. An angular, metallic satellite-like mobile by Korean artist Lee Bul floats in the air. A portrait by U.K. artist Julian Opie hangs on one wall next to an oversized Chinese lantern. There is a gray concrete bathroom with rough bits of exposed brick. It has a communal sink, a shower unit and three toilet stalls.

Photographs by Philipp Englehorn for The Wall Street Journal

A mobile by Lee Bul and recliner by William Lim

Technically, lofts like this are zoned for commercial use. But real estate agents say more entrepreneurs, including artists, retailers and design companies, are combining work and living spaces into them. There is actually a loophole regulation that permits warehouse spaces to have one or two watch guards who may stay overnight. Nothing forbids them from dozing off, said the elder Mr. Lim.

Recently, the government said it can't regularly inspect all warehouses and will only act to enforce zoning regulations if there are complaints. Currently, a 6,700-square-foot warehouse loft in the same area, which comes renovated and with a rooftop terrace, is listed for $5.1 million.

The elder Mr. Lim sits on the board of the Asia Art Archive, which documents the history of contemporary art in Asia, and he is co-chair of Para/Site, a non-profit art space in Hong Kong. When he hosts presentations at the loft, attendees gather on wooden bleacher-like seating that spills off one side of the structure. This week, to coincide with the Hong Kong International Art Fair, he will preside over an open house at the loft to exhibit his art collection.

Right now, the young architects are keeping busy with their new design firm, called openUU. They are working on a penthouse, an art gallery and a private school cafeteria in Hong Kong. In Shanghai, they are designing a seafood retail shop. The loft will continue to serve the elder Mr. Lim's art interests, but, for now, it's also a home base for the younger architects to start their careers.

Says Mr. Kim: "The idea is to see how many different activities we can pack in here."

A version of this article appeared May 18, 2012, on page D6 in the U.S. edition of The Wall Street Journal, with the headline: To Doze, Design in Hong Kong.

Vinyl records are a totem of the past, a nostalgic symbol of a time when Americans seemed to share more — at least in the way of music: People of a certain age can still remember when, say, Carole King’s 1971 Tapestry sold 25 million copies and engulfed the nation.

Simultaneously, vinyl records are up to the moment. Young hipster collectors now snatch them up both for the sheer physicality of playing a vinyl record and the artistry involved in record covers. DJs like the sound of vinyl: as local legend DJ Le Spam (Andrew Yeomanson) says, an MP3 download is like “a fax of a song.”

Visual artists have long put vinyl to their own uses, and the exhibition at the Miami Art Museum, The Record: Contemporary Art and Vinyl has a bit of everything: outsider artists, emerging artists and established icons like Ed Ruscha. Within the show, vinyl records are photographed, melted and deconstructed for other ends: most of the work has little to do with music directly, and remain conceptual works of art.

The Record — encompassing 99 pieces by 41 artists — originated at the Nasher Museum of Art at Duke University in Durham, N.C. According to Nasher curator Trevor Schoonmaker, the show’s strength lies in its adherence to a mission of remaining serious contemporary art. “Some of the work refers to pop culture, but we don’t have any music ephemera, posters or whatever.”The intersection of pop culture and high art is tricky terrain, but it can be done right. In 2008, MOCA’s Sympathy For The Devil: Art and Rock & Roll Since 1967 revealed the not-so-quiet artistry of rock. Last year, at the Art and Culture Center of Hollywood, the show Artist Unknown/The Free World created a compelling portrait of contemporary life using countless Facebook images of ordinary people.

At MAM, the first exhibition room of The Record strikes just the right note. In the middle of the room is a thoughtful sculptural installation by William Cordova, a Peru-born Miami artist who was exhibited – along with locals Adler Guerrier and Bert Rodriguez — in the 2008 Whitney Biennial. The piece, Greatest Hits (para Micaela Bastidas, Tom Wilson, y Anna Mae Aquash) 2008 consists of a stack of 3,000 vinyl records, Peruvian gourds, a VHS tape and candles. Focusing on the ideas of transition and displacement, the monolithic work refers to three icons: Bastidas, a 18th century Peruvian independence martyr; Aquash, a 1970s leader in the American Indian movement; Wilson, a 1960s record producer known for his work with Bob Dylan.

The first exhibition room also has Laurie Anderson’s 1977 Viophonograph — a hybrid-creation between a record player and violin that Anderson played in concert — and David Bryne’s 1978 photo-montage for the album cover of Talking Heads’ More Songs About Buildings and Food. Created with a Polaroid Big Shot camera, the 90-inch-by-90 inch piece is a life-size rendering of the band, pieced together with countless close-up photos.

A smaller project space, covered in plywood and photos contains an installation by the New York-based artist Xaviera Simmons, Thundersnow Road, North Carolina, 2010. Simmons, also a DJ, created a character of a folk rock singer posing for moody circa 1973 album liner photos in rural North Carolina. She then asked friends in music groups — Rain Machine, Midnight Masses, etc. — to compose songs based on the photos, ultimately making an entire vinyl album. This is perfectly-realized conceptual art, a world onto itself, filled with humor and loss, “Once we all listen to music with chips planted in our brains,” Simmons says, “maybe the first quaint iPods will inspire art shows.”

 

By CAROL VOGEL

Published: March 18, 2012

MAASTRICHT, the Netherlands — There’s nothing unusual about hearing French, Italian, German or even Russian spoken at the European Fine Art Fair. But this year, as the doors to the cavernous convention center here opened for the invitation-only preview on Thursday, Chinese was also a noticeable part of the mix.

Keenly aware that Asia is the fastest-growing segment of the art market right now, a group of the fair’s dealers and organizers made a visit to Beijing and Shanghai in September to meet with collectors’ clubs and private museums and to talk up the fair. As a result of that trip alone, officials here said, about 100 visas were issued to Chinese collectors for visits to the Netherlands. And by the time the 10-day fair ends, on Sunday, they expect that 250 to 500 collectors, dealers and other art world figures will have made a trip here from China.

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• By KELLY CROW

In the early 1980s, German artist Gerhard Richter painted 24 views of flickering white candles, and not a single one sold. When one of those "Candle" canvases came up at Christie's in London this past fall, it sold for $16.5 million.

Agence France-Presse/Getty Images

A visitor at the blockbuster retrospective 'Gerhard Richter: Panorama' at Berlin's Neue Nationalgalerie; it will travel to Paris in June.

Few people can pinpoint the moment when an artist becomes iconic in the way of Pablo Picasso or Andy Warhol, but right now the art world is trying to anoint Mr. Richter. Last year, his works sold at auction for a total of $200 million, according to auction tracker Artnet—more than any other living artist and topping last year's auction totals for Claude Monet, Alberto Giacometti and Mark Rothko combined. At Mr. Richter's gallery in New York, the waiting list for one of his new works, which can sell for $3 million apiece, is several dozen names long.

In November at Sotheby's, London collector Lily Safra paid $20.8 million for Mr. Richter's 1997 eggplant-colored "Abstract Painting," an auction record for the artist. Other artists have sold individual works at higher prices—Jeff Koons, for example—but in terms of volume at auction, Mr. Richter currently tops the market.

The artist's ascent is being driven by market demands as much as curatorial merit: Auction houses and museums, eager for new masters to canonize, are showcasing Mr. Richter's works around the world at an ever-increasing clip. An influx of international collectors and dealers are also seizing the moment to buy or sell his pieces at a profit—including art-world tastemakers such as Russian industrialist Roman Abramovich, French luxury-goods executive Bernard Arnault, dealer Larry Gagosian, Taiwanese electronics mogul Pierre Chen and New York hedge-fund manager Steven Cohen.

   

 

Germany's Gerhard Richter's artworks sold at auction last year for a total of $176 million, more than any other living artist. Kelly Crow has a profile of Richter and his work on Lunch Break. Photo: Sotheby's

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German artist Gerhard Richter.

Mr. Richter's work is uniquely suited to the tastes of the current art market. Like Picasso, he paints in a number of different styles—from rainbow-hued abstracts to poignant family portraits—giving collectors plenty of choice. Like Warhol, he is prolific, which ensures a steady volume of his works in the marketplace—yet enough of his works are in museum collections that he has avoided a glut. And ever since the deaths last year of painters Cy Twombly and Lucian Freud, collectors searching for another senior statesman have started giving his work a closer look.

Collectors are paying a particular premium for Mr. Richter's larger abstracts from the late 1980s, which have all the visual impact of a work by Francis Bacon or Mr. Rothko, artists whose prices spiked before the recession. These abstracts are also immediately identifiable as being Mr. Richter's creations, making them easy status symbols. San Francisco dealer Anthony Meier says, "Collectors want an iconic work in a format that everyone recognizes. Monkey see, monkey do."

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Mr. Richter, 80 years old, isn't a household name in the U.S. yet, but he's revered in Europe. Born in Dresden, he fled the former East Germany months before the Berlin Wall went up. He has spent the past six decades experimenting with ways to refresh traditional painting categories like the still life. He's best known for haunting family portraits that evoke smudged newspaper clippings—a wry response to Pop that won him a pre-eminent spot among Europe's postwar painters. He also uses an oversized squeegee the size of a car bumper to create layered abstracts. That he flits between several painting styles, rather than sticking to one signature look, has always confounded some audiences, yet the toggling is actually his calling card, the painter as polymath.

A blockbuster retrospective, "Gerhard Richter: Panorama," has been crisscrossing the art capitals of Europe, having just traveled from London's Tate Modern to Berlin's Neue Nationalgalerie, where it will show through May 13. So far, the show has drawn large crowds; it heads to Paris's Centre Pompidou in June.

For his part, Mr. Richter seems a reluctant commodity. At a time when superstar artists typically have a different dealer for every continent, he funnels nearly all his new works through New York dealer Marian Goodman. Both are soft-spoken and rarely attend high-profile auctions. The pair has declined lucrative licensing deals and private commissions. For years, their combined efforts have helped his price levels retain an air of integrity. Ms. Goodman, speaking on behalf of the artist, who declined to be interviewed himself, said, "He has an honest market."

Ol auf Holz Museum Ludwig, Koln;ln/Privatsammlung © Gerhard Richter 2012

Mr. Richter has created more than 3,000 paintings, but nearly 40% of them (including 'Betty,' pictured here) are in museum collections, which has prevented a market glut.

Not everyone is ready to bet on Mr. Richter. Jose Mugrabi and David Nahmad, major dealers in Warhol and Picasso, respectively, said they don't think Mr. Richter has enough heft to compete with the market presence of those modern masters. Mr. Mugrabi said Mr. Richter's art is more fashionable now than it used to be, but not more important.

Trends in contemporary art, as in fashion, can also change quickly, so it's unclear whether Mr. Richter's prices will keep climbing or drop again over the long run. In the late 1980s, prices for Frank Stella's geometric paintings rose quickly to nearly $4 million before reaching a plateau in 1989 that he hasn't matched at auction since. Mr. Rothko's abstract paintings also soared to $72.8 million during the market's last peak in 2007, but nothing by him has sold for half as much in the past couple of years. Art adviser Nicolai Frahm says he's counseling his collector clients to hold off seeking Mr. Richter's works "until his prices equalize."

Sotheby's

Russian industrialist Roman Abramovich is among the influential collectors who have helped to make Mr. Richter's market. Mr. Abramovich paid $15.1 million for Mr. Richter's 1990 'Abstract Painting' at Sotheby's.

Robert Storr, dean of the Yale School of Art, said he thinks such lofty comparisons to Picasso and Warhol will hold up, though. "Richter doesn't want to be the next king, but he has taken painting farther than just about anyone else," he said.

Richter's Rise

Mr. Richter works out of a pair of pristine studios in Cologne, including one attached by a garden path to the home he shares with his third wife, Sabine, and their young son, Moritz. Mr. Richter suffered a stroke a few years ago, but he remains fit and moves easily, his face framed by a jaunty pair of translucent eyeglasses.

The son of a Dresden schoolteacher, Mr. Richter grew up in communist East Germany, steeped in the academic rigors of Soviet Realism. Some of his first jobs included painting murals of cheery workers for the state. In 1959, he saw Western contemporary art for the first time at an exhibition called Documenta in the German town of Kassel; afterward, he told friends he would have to rethink what he knew about art after seeing Jackson Pollock's drippy splatters and Lucio Fontana's punctured canvases.

Sotheby's

Part of Mr. Richter's appeal to collectors: He paints in a wide range of styles, from colorful abstracts to hazy portraits. His 'Sailors' sold for $13.2 million at Sotheby's.

Two years later, he and his wife, Ema, enlisted a friend to sneak them by car into West Berlin so he could study art without political constraint. The couple moved to Düsseldorf, and by the end of the summer the Berlin Wall had gone up. He never saw his parents again.

Over the next decade, the artist grappled with occasional homesickness—and the legacy of his country's role in the war—by painting portraits of his relatives that looked like black-and-white photographs, only hazy. The subjects included his "Aunt Marianne," who was exterminated by the Nazis because she was mentally ill, and his "Uncle Rudi," a Nazi soldier who died fighting in the war.

Rudolf Zwirner, one of the artist's earliest dealers, was impressed when he saw the work in 1962; few German artists were addressing such disquieting topics. For years after the war, wealthy American collectors who were championing Jasper Johns and Andy Warhol considered German art "taboo," Mr. Zwirner said, so he and other dealers cultivated collectors for Mr. Richter nearby. Their prices rarely topped $1,000. "I sold Richters to my physician, my neighbors, my brother—anybody I could convince," he said. To this day, it's not unusual for bourgeois families in the region to own dozens of works by the artist; one collector in Munich owns 70 works. By the time Mr. Richter was invited to represent Germany in the 1972 Venice Biennale, his pool of countrymen collectors was deep.

Christie's

Mr. Richter's 1982 'Candle' painting sold in October at Christie's for $16.5 million.

In the years that followed, Mr. Richter churned through several different series—like those candles—which didn't sell as well as the angst-ridden paintings of his German contemporaries like Anselm Kiefer and Georg Baselitz. But in the mid-1980s, he began making brightly colored abstracts, and collectors pounced. San Francisco collectors Donald and Doris Fisher, who founded the Gap retail chain, bought several of these works.

The real turning point for Mr. Richter came in 1995 when New York's Museum of Modern Art paid $3 million for a suite of 15 grisaille paintings called "Oct. 18, 1977." The artist painted this cycle in 1988 as a response to the arrest, trial and grisly death in 1977 of a group of young German anarchists-turned-terrorists. Mr. Storr, the Yale dean who then served as the museum's senior curator of painting and sculpture, began planning a major survey of Mr. Richter's work for the museum.

As soon as word leaked about the museum show, Mr. Zwirner said his phone started ringing with American collectors seeking Richters. A year later, in 1996, Sotheby's in London put a Richter on the cover of one of its sale catalogs. Back in Germany, longtime collectors started getting letters from auction houses: Did they care to sell a Richter?

MoMA's long-awaited survey opened six years later, in 2001, and suddenly series that had seemed random when they debuted, like his "Candle" works, seemed relevant, said Sotheby's specialist Cheyenne Westphal. Three months after the exhibit opened, the auction house sold his "Three Candles" for $5.3 million.

Courtesy of the artist and Marian Goodman Gallery, New York/Paris

Mr. Richter with his longtime dealer, Marian Goodman

Two years after that, a lawyer and collector based in Zurich named Joe Hage began gathering auction prices and exhibit details about the works in Mr. Richter's oeuvre. He started a website, gerhard-richter.com, and began posting the results online.

For newer, Internet-savvy collectors, Mr. Hage's site has proved popular because of all that its tallying has revealed. Mr. Richter has created 3,000 paintings—fewer than Warhol's 8,000 silk-screens but considerably more than Salvador Dalí's 1,200 works. He's also heavily traded, with more than 200 of his works turning up at auction every year, which provides buyers with a regular stream of price points to analyze. Museums own roughly 38% of his works, though, including half of his most coveted works, those large squeegee abstracts.

By 2006, an influx of newly wealthy collectors began competing hard for contemporary art, spiking values for dozens of artists including Mr. Richter. Sotheby's began shipping its top Richters to Hong Kong so potential bidders there could see his works. In May 2006, a bidder at Berlin's Villa Griesbach auction house paid $1 million for Mr. Richter's 1971 portrait of "Mao." The following summer, the same painting came up for bid at Christie's in London and sold for $2.5 million.

Then came the snowball: In February 2008, the artist's eldest daughter, Betty, sold her 1983 "Candle" for $15.8 million, triple the high estimate, at Sotheby's. Three months later, Mr. Abramovich dropped $15.1 million for Mr. Richter's green-gray "Abstract Painting" from 1990. It was only priced to sell for up to $7 million. With that, collectors recalibrated Mr. Richter's high bar to $15 million or more.

© Gerhard Richter, Courtesy The Israel Museum, Jerusalem

Mr. Richter's 1997 'Abstract Painting,' which Lily Safra bought for $20.8 million at Sotheby's.

During the recession that followed, potential sellers of Mr. Richter's masterworks largely sat on the sidelines, but by late 2010, as the market perked up again, a fresh set of collectors began embellishing their collections with Richters. That November, Sotheby's got $13.2 million for his 1966 "Sailors," a work that spent years in the New Museum Weserburg in Bremen. The buyers were Houston hedge-fund manager John Arnold and his wife, Laura.

A pivotal sale four months ago sealed the deal. At Sotheby's in New York, London collectors Marc and Victoria Sursock offered up eight Richter abstracts; all sold for well over their asking prices, including the abstract that went to Ms. Safra for $20.8 million. Last month in London, collectors came back for more: Christie's got $15.5 million for a green Richter abstract, while Sotheby's sold a creamy abstract to a former Zurich nightclub owner, Carl Hirschmann, for $4.8 million.

Mr. Richter has told friends he thinks his recent auction records are "absurd." But for his longtime collectors, they're paying dividends.

A few years ago, as Berlin endocrinologist Thomas Olbricht was constructing a five-story museum to showcase his art collection, he realized he was running low on cash. So he sold a blue-orange Richter abstract. Mr. Olbricht had paid about $287,000 for it in 1996; Christie's sold it for him in 2008 for $14.8 million.

Today, the museum, called the Me Collectors Room, rises from a narrow street in Berlin's bustling Mitte neighborhood. "I still wish I'd been able to keep that painting," Mr. Olbricht said. "Today, it would be worth $20 million."

Write to Kelly Crow at kelly.crow@wsj.com

A version of this article appeared Mar. 9, 2012, on page D1 in some U.S. editions of The Wall Street Journal, with the headline: The Top-Selling Living Artist.

The Tate Modern in London announced on Monday that it had purchased one of Ai Weiwei’s famous installations of life-size, hand-painted porcelain “Sunflower Seeds.” It bought 8 million of the 100 million seeds that were on view in a giant installation at the museum a year and a half ago. The mini-version was bought directly from the artist, officials at the Tate said, and the remaining 92 million seeds have been returned to Mr. Ai.

When “Sunflower Seeds” was originally installed in the Tate Modern’s cavernous Turbine Hall, the museum encouraged visitors to touch and even walk on the piece. But it reversed course days later after officials found that the movement of the crowds released hazardous dust. It was also determined that there were traces of lead in the paint.

The new acquisition may be less than one-tenth the size of the original, but it is still a lot bigger than a sunflower piece by Mr. Ai that Sotheby’s sold in London last year, one of an edition of 10 works each composed of 100,000 seeds. That version was bought by an unidentified telephone bidder for $559,394, or about $5.60 a seed. The Tate would not say what it had paid for its eight million seeds, but did say that it managed the purchase with help from the Tate International Council, the Art Fund and the collectors Stephen and Yana Peel.