Ambiri Sana
Committed to creating value in the art market. We deepen our market understanding, expand our network, and cultivate a diverse audience. We publish our newsletter targeting intelligent and inquisitive people who are not traditional art world participants. Recognizing a broad demand for insightful critique of art and the art world, plus an under explored dynamic interplay with the growing market for Digital Art, we are developing innovative products to engage and expand our audience and unlock value for our clients.
Guaranteed, irrevocable bid- The seller has been guaranteed a minimum price by the auction for the lot being sold. An interested party has provided the auction an ‘irrevocable bid’ which will be executed during the sale at a value that will ensure the sale of the lot regardless if the party is the successful buyer
Third Party Guarantee- The auction house has provided a minimum price guarantee and has a direct financial interest in the lot. Auction houses often finance this guarantee via a third party. The third party then either buys the piece at the minimum
Atmospheric Perspective- popular amongst the Venetian school. It creates the illusion of depth in a painting, like blurring details far in the background and using colour to create a hue for changes in light. This would not have been applied to important figures in the foreground integral to the scene.
YBA (Young British Artists)- a loose group of British Artists who began to exhibit together in London. The group graduated primarily from Goldsmiths in the 1980's. They are best known for their shock tactics, use of throw-away materials, and an attitude "both oppositional and entrepreneurial." Artists include: Damien Hirst, Tracey Emin, Sam Taylor-Wood, Rachel Whiteread, etc.
Blue-Chip- can refer to an artist or gallery. High value artwork by well-established artists with the reputation of their art increases over time. Typically fetching the highest prices at auction.
Seller’s Reserve/Reserve Price- is the minimum price that the auctioneer is allowed to accept… if no-one bids that amount, then the item is pulled from the auction (i.e. the auctioneer does not just keep lowering the price until a transaction happens).
Buyer’s Premium- is an additional percentage fee paid on top of the final hammer price by the buyer at auction. It is calculated on a sliding scale that reduces from 25-15% depending on the auction house once a certain threshold is passed.
Post-War- commonly used to refer to the art time period following WW2.
UHNWI- Ultra High Net Worth Individuals.
Contemporary Art- loosely refers to art of the present day and of the relatively recent past (the last 10 years), of an innovatory or avant-garde nature.
Humanism- an intellectual movement and viewpoint centered on nature and the importance of humanity that emerged from the study of Classical antiquity. It focused on the individual to break away from the centrality of the Church; It’s from here we get the term humanist to define a teacher or student who studies the Humanities (the same subjects we study and refer to today).
Chiaroscuro- an art technique used to describe the strong contrast between light and dark, usually so bold it affects the whole composition. Chiaro being the Italian word for “light/clear” + Oscuro Italian for “dark/obscure”. Notable artists including Caravaggio and Rembrandt.
Group f/64- believed that photography, as an art form, must develop along lines defined by the actualities and limitations of the photographic medium, and must always remain independent of ideological conventions of art and aesthetics that are reminiscent of a period and culture antedating the growth of the medium itself.
1:1 (read as “one of one”)- think of these like fine art NFTs that are a single, unique edition: Beeple’s The First 5000 Days is a 1:1.
Collectibles- are large NFT collections, typically 10,000, usually run by a team rather than an individual artist (like CryptoPunks and Bored Ape Yacht Club). Each NFT is a unique variation of the single figure (different traits to distinguish itself, with some being more rare than others). They also can double as a membership card allowing the owner access to special websites, drops, etc.
Mint- the process of adding an artwork to the blockchain by which it officially becomes an NFT.
“TradFi”- “Traditional Finance”, as opposed to “DeFi” which is “decentralized finance”, mainly cryptocurrency. Similarly, “TradArt” is “Traditional Art”, as opposed to NFTs, which are mainly JPEGs of monkeys?
The Art + Tech Report- an annual query of collectors active in digital art to explore the intersection of technology and art with the aspiration that these insights not only steer discussions and ignite innovation but also foster a deeper understanding of the impact of web3 on the art market. The 2023 survey had 300 collector respondents.
Dadaism- an art movement that was an immediate reaction to WW1 and the senseless slaughter that ensued. It was a blatant rejection of logic, reason, and the aestheticism of modern capitalism, instead expressing nonsense and irrationality. Notable artists include Hugo Ball, Marcel Duchamp, Man Ray, and Hannah Höch.
Rug-pull- a term used to describe a scam where a developer/creator will promote a project and then disappear with investor money.
Proof-of-Stake- a mechanism used to verify blockchain transactions. It differs from proof-of-work mechanisms in that it incentivises honest behaviour by rewarding those who put their crypto up as collateral for a chance to earn more.
Three-Quarter Profile- a term used to describe the position in which the sitter’s head is depicted:
Chrome Yellow- a popular colour used by artists at the time that came in various shades: lemon, yellow, and orange. They are incredibly light sensitive, and darken/dull quickly- a side effect Van Gogh complains about at length in his letters. He has a spectacular rant about how the paint quality Impressionists used were actually fairly unstable. Yes, that flash on your phone will damage the painting when taking photos.
Hellenistic Baroque- Known for its exaggerated motion, emphasis on details, and the liveliness of the characters; it comprises the interval between the death of Alexander the Great in 323 BC, and the Roman conquest of Egypt in 30 BC. Famous works include Venus de Milo, Winged Victory of Samothrace, and the Pergamon Altar.
Julio-Claudian dynasty- the reigns of Emperors Augustus, Tiberius, Caligula, Claudius, and Nero. 27 BC to 68 AD.
Stuckism- stresses the value of painting as a medium, its use for communication, and the expression of emotion and experience – as opposed to what Stuckists see as the superficial novelty, nihilism and irony of conceptual art and postmodernism. The most contentious statement in the manifesto is: 'Artists who don't paint aren't artists'. In the Remodernism manifesto, the Stuckists declared that they aimed to replace postmodernism with remodernism, a period of renewed spiritual (as opposed to religious) values in art, culture and society. They also define themselves as anti-anti-art which is against anti-art and for what they consider conventional art. By May 2017, the initial group of 13 British artists had expanded to 236 groups in 52 countries.
Conceptual art- art for which the idea (or concept) behind the work is more important than the finished art object. It emerged as an art movement in the 1960s and the term usually refers to art made from the mid-1960s to the mid-1970s. Famous artists include Marcel Duchamp, John Baldessari, Martin Creed, and Simon Starling.
Sell-Through Rate- the percentage of lots from an auction that are sold. If 80 lots from a 100-lot auction are sold, the sell-through rate would be 80%. They can serve as indicators of demand for a specific part of the art market as well as reveal trends, such as fluctuations in buyer interest. However, if an evening sale has a 100% sell-through rate (STR), you would think the sale was a success— when in reality, the works might have all sold for below their low estimates.
Pastiche- an artistic work in a style that imitates that of another work, artist, or period.
Etruscan- The Etruscans were the first highly civilised people of Italy and were the only inhabitants who did not speak an Indo-European language. At its greatest extent they dominated roughly what is now Tuscany, western Umbria, northern Lazio, as well as what is now the Po Valley, Emilia-Romagna, south-eastern Lombardy, southern Veneto, and western Campagnia. Basically from modern Rome to Milan and Venice. They dominated Italy until they fell to the expanding Rome beginning in the late 4th century BC as a result of the Roman–Etruscan Wars.