The Metropolitan Museum of Art is set to launch its exhibition, "Krasner and Pollock: Past Continuous," in October, celebrating the artistic journey of both Lee Krasner and Jackson Pollock. This exhibition will showcase 120 works from over 80 lenders, aiming to present both artists "on their own terms" and highlight their interconnectedness.
Despite the museum's efforts, the art market has traditionally favored Pollock, whose auction record stands at an impressive $61.2 million. In stark contrast, Krasner's highest recorded sale is just $11.7 million, a mere fraction of Pollock's achievements. This discrepancy raises questions about the lingering biases in the valuation of their works, even in light of recent scholarship that has sought to elevate Krasner's status beyond merely being "Pollock's wife."
Krasner, a pivotal figure in the Abstract Expressionist movement, often faced challenges due to the cultural narrative that idolized male artists like Pollock, whose self-destructive genius overshadowed her more diligent and innovative approach. The market for Krasner's art remains limited and selective, with collectors often seeking specific styles that may not reflect the full breadth of her creativity.
As noted by Saara Pritchard, a partner at Fair Warning, potential buyers frequently request "a colorful Krasner under $3 million," a demand that is rarely met. This highlights a broader issue where the market tends to favor more digestible representations of Krasner's work, overlooking her diverse styles, including her collages and lesser-known pieces.
In 2016, the Kasmin gallery made significant strides by securing rights to Krasner's work, leading to notable sales that indicated a viable market. Recent sales of her pieces have taken place largely in private transactions, where some have reached values that challenge public auction benchmarks. This suggests that while public visibility may be low, interest in Krasner's work is growing among private collectors.
With the upcoming Met exhibition, there is potential for a shift in Krasner's market dynamics. Previous retrospectives, such as the one at the Barbican, have laid groundwork, but the Met's presentation may resonate more deeply with American audiences, potentially broadening her appeal.
As a precursor to the exhibition, two of Krasner's works are set to be auctioned at Christie's in May, with estimates ranging from $1 million to $2.5 million. This moment serves as a test for the market's readiness to embrace Krasner as an equal to Pollock, not just in terms of price but in recognizing the full spectrum of her artistic contributions.
The Met's initiative could catalyze a new appreciation for Krasner, challenging the market to evolve and reflect her rightful place in art history.