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Freakonomics Radio

486. “The Art Market Is in Massive Disruption.”

Freakonomics Radio

Freakonomics Radio + Stitcher

Documentary, Society & Culture

4.632K Ratings

🗓️ 16 December 2021

⏱️ 42 minutes

🧾️ Download transcript

Summary

Is art really meant to be an “asset class”? Will the digital revolution finally democratize a market that just keeps getting more elitist? And what will happen to the last painting Alice Neel ever made? (Part 3 of “The Hidden Side of the Art Market.”)

Transcript

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0:00.0

I'm Dr. James Denean and I'm a primary care internist at the National Hospital in Boston

0:13.1

where I practice for 45 years and retired from patient care in 2008.

0:18.8

James Denean is looking through some photographs from a long time ago.

0:22.6

This is my sitting Alice Neal's backyard.

0:26.2

This is Alice beginning the portrait.

0:28.5

Alice Neal was a painter born in 1900.

0:31.6

Her specialty was painting people, what you and I might call portraits, but she didn't

0:36.0

care for that word.

0:37.4

Neal was resistant to the genre of portraiture, which she associated with status and wealth.

0:44.8

That's Kelly Baum.

0:45.9

She's a curator at the Metropolitan Museum of Art.

0:48.8

Stuffy, stiff, uninspired, overly romanticized without a critical or radical spirit.

0:57.4

Neal preferred to call her paintings pictures of people that are also history.

1:01.8

Neal's pictures are always more than just the person they represent.

1:07.6

Baum recently co-curated a massive Alice Neal retrospective at the Metropolitan Museum.

1:12.8

It was called People Come First.

1:15.6

The vast majority of the people Neal painted were not well known.

1:20.0

Dr. James Denean fits that description well.

1:23.1

One day on the opposite side I'd like to paint you.

1:26.6

So this is in early 1984.

1:29.5

And my son and I drove down to spring-white New Jersey.

1:34.8

And she painted me in her backyard.

...

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