Mouli Cohen, experienced art collector, discusses the future of the art business and the recessions effect on the conceptual art market. With the art market being affected dramatically by the overall global financial recession the world is starting to question the validity and value of some “conceptual” art by living artists*. The skill of playing inventively with ideas has taken precedence over the technical skill of years past. With this new recession some argue that this is trend is reversing. We sat with art collector Mouli Cohen to discuss his take on the matter. *http://www.nytimes.com/2009/10/16/opinion/16dutton.html?emc=eta1 Question: What does “art” mean to you?
Mouli Cohen: Art is creative expression. Itʼs taking a look
deep inside you and translating that feeling into material form. Itʼs not always emotional of course. Smart art exists, especially today, and some of that is the best art. You might in fact say conceptual art is the purest form of art. In some ways it is most like the first forms of art, cave paintings, in that conceptual art strives to break down our idea of how something can be represented. Question: Philosophy of Art professor Dennis Dutton recently published an Op-Ed in the New York Times suggesting conceptual art has “jumped the shark” Do you think thereʼs any truth to that?
Mouli Cohen: Well, in a word, no. I understand that there
is concern that a Damien Hirst shark tank or medicine cabinet wonʼt hold the same value in the future as a work that demonstrates obvious skill or craft. But art is valuable not just for its overt appearance, but for its history, its context, the questions that it asks. Go to any auction and youʼll quickly realize thereʼs no correlation between whatʼs selling and itʼs obvious aesthetics. Art is not merely aesthetics. Question: Youʼve been collecting art for a number of years now. Is investment your primary concern when deciding what to purchase?
Mouli Cohen: Iʼd be lying if I said I donʼt think about art as
an investment. My modest collection has beat the S&P by something like 5% for the past 30 years. But buying art isnʼt all about money. If I didnʼt buy what I like, what I like seeing on my wall, then Iʼm pretty sure my collection wouldnʼt put up the returns it does. Youʼve got to appreciate art to have any chance of picking a piece that will appreciate in value. I pick what I like first. Everything else comes after that. Question: How do you feel about the current state of modern art?
Mouli Cohen: [Laughs] Well, I can tell you now I have no
idea whatʼs being created in the studioʼs of the world right this second. We wonʼt have a clear understanding of the current state of the arts until a few years from now. I can tell you Iʼm very interested in the burgeoning art scene in the Middle East and the Far East. Thereʼs an incredible amount of creative innovation happening over there as the result of globalization and, well, conflict. The most fascinating things bubble up from the chasm of crisis. Question: Are there any particular Eastern artists you admire?
Mouli Cohen: There are many. Iʼve recently looked at a
number of pieces by the Iranian calligrapher Mohamed Ehsai. His work turns words into art, and begs the viewer to appreciate more than the significance of the phrase. Some of his pieces are now selling for more than a million dollars. Question: The first Da Vinci painting to be discovered in over 100 years was unveiled last week. Do you think more of his paintings will surface in the future?
Mouli Cohen: I would expect more to surface over time.
Though there will probably be a lot more imposters than authentic works. The science that goes into confirming the authorship of one of these multi-million dollar pieces is more complex than I can tell you. Apparently forensic scientists found a partial finger print on the new piece that matched one found on an unfinished painting at the Vatican. Thatʼs just one of a dozen clues which led to experts confirming the new piece as a Da Vinci. Question: How do you feel about the Tate Modern being forced to take down a Richard Prince photo depicting a nude 10-year-old Brooke Shields?
Mouli Cohen: I heard about this. Itʼs a touchy situation.
You have to be careful to what extent you censor art. But at the same time, indecency for indecencyʼs sake does not necessarily merit space on the wall of a respected institution, or a wall anywhere. If a piece is controversial, offensive even, itʼs a curatorʼs responsibility to make sure its contribution to productive discourse outweighs its offense. I think in this case the right decision was made. Not to say the piece isnʼt a meaningful contribution to art. But taking it down may have demonstrated something far more important than keeping it up. Question: Where do you see the direction of art going in the next decade?
Mouli Cohen: The influence of the East will continue to
grow at the auction house – both in terms of the art being sold and those buying it. Thereʼs too much interesting stuff going on in the Eastern Hemisphere for Americans to stay in the dark. Beyond that, there will continue to be more and more of a digital influence in whatʼs really cutting edge. Buyers are always hesitant to put their money into video and other digital media, for obvious reasons most of which have to do with authenticity concerns, but digital will only get bigger in art, as it will in every other facet of life. Multiculturalism will also be big. Cultures will be mixed, and traditions will get tossed together in unpredictable ways in the future. Iʼm very much looking forward to it. About Mouli Cohen
Mouil Cohen, founder of Voltage Capital,
has been a leading businessman for over 30 years. Mouli is a life long art collector and owner of many master works by artists such as Picasso and Matisse.
Mouli Cohenʼs philanthropic work often
involves art education and historically he has been a generous supporter of museums in his local community.
Mouli Cohen was most recently a co-chair
of the Mount Sinai Breakfast of Legends, hosted by Katie Couric. Learn more of Mouli Cohenʼs thoughts on business and philanthropy at his website moulicohen.com