The artist Fritz Balthaus is releasing a sculpture for auction that does not yet exist - the art object will only be created, once the NFT certificate LOT1 has been purchased. With the surcharge, the NFT and the object become the property of the buyer. The auction proceeds cover the fee and production costs of the LOT1 artwork. auction-address: https://opensea.io/collection/lot-37
BACKGROUND The following statement by Sotheby‘s former chairwoman Amy Cappellazzo inspired the art piece LOT of the artist Fritz Balthaus. Cappellazzo‘s statement names the reasons for surcharges and sales at art-auctions: „Any artwork that exceeds the standard size of a lift at the most expensive buildings in New York is excluded from a particular market segment“, she said during a panel at Nasher Sculpture Center, Dallas in 2016. Fritz Balthaus‘ artwork LOT1 was developed in response to Cappellazzos implicit distinction between ‘fits in the lift’ and ‘does not fit in the lift’, and the resulting sales at her Sot-heby’s auctions. The sculpture LOT1 takes Amy Cappellazzos professional assessment of lift paths in collectors houses literally. TECHNICAL The production of LOT1 only begins after the purchase of the bid, because the shape of LOT is site-specifically defined by the size of the lift and the transport route into the winning bidder‘s collection. The material of LOT consists of blockboard and mirrors. The lift towards the bidder‘s collection will be the eye of the needle through which this sculpture must pass. The sculpture incor-porates the spatial volume of the lift and all transport requirements of the entire building. The sculpture should be as large as possible, but not larger than the lift. The room-filling sculpture also conceals the needed lift lighting, that why a light shaft with deflecting mirrors is built into the sculpture. The neces-sary space for the lift driver and cut-outs for its forklift are also inscribed in the sculpture. From now on, the sculpture can go into the collection of the successful bidder. forward questions: studiooutlet@balthaus.org. BID The price of the NFT LOT1 includes the production and final delivery of the 3-dimensional object to the collector‘s location. PRECURSOR https://lnkd.in/eRiRk6ci ARTFORUM, NY about precursor https://lnkd.in/e66GUa_e