The Prince Albert II of Monaco Foundation is supporting an important project to protect Polynesian marine ecosystems and in particular marine turtles.
Like many species, turtles help with the regulation and stability of marine ecosystems. Pollution – especially plastic, fishing, poaching and also climate change are major threats to marine turtles.
One of the many projects that the Prince Albert II of Monaco Foundation supports is currently being undertaken by Te Mana o te Moana. Founded in 2004, the association carries out public awareness missions, conservation and research, and works for the protection of the marine environment in French Polynesia. Its main fields of action are the conservation of marine turtles, education, as well as the environment and the fight against plastic pollution.
The projects currently being support by the Prince’s Foundation are threefold. Firstly, the association is monitoring marine turtle nesting sites in Tetiaroa atoll in correlation with changes in water levels and erosion of the atoll’s beaches.
It is also studying the evolution of water and beach temperatures in order to establish a link between the seasonal presence of adult turtles and sea temperatures.
Finally, it is setting up a database dedicated to the Tetiaroa atoll to provide the observatory with a sustainable reference tool.
Over the past of 16 years, more than 500 marine turtles have been cared for in the Te Mana o te Moana care centre. Meanwhile, awareness has been raised among 95,000 children and six coral paths and gardens have been created.
“Authenticity is invaluable; originality is non-existent.” While the very talented Jim Jarmusch may not be talking about art prints, this well observed statement rather beautifully captures a point often overlooked by art collectors.
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Significant value, both aesthetic and financial, is regularly missed by the mistaken beliefs that a) prints are just cheaper copies of real art, and b) prints have no investment benefit to art collections.
When acquired carefully they can be an excellent addition to a portfolio whether you are buying for purely decorative reasons or as part of a wider investment strategy. In this article I shall try to clarify an underappreciated part of the market, and to cut through the horribly confusing mess of technical terms and art jargon.
Unfairly written off as mass-produced and therefore lacking in value, printed works can give you the ability to own a broad selection from your favourite artists that may otherwise be impossible to acquire.
To buy Koons or Chagal for four figure sums represents fantastic value, and when bought sensibly these pieces tend to hold their value. They can also sell for very significant sums. Earlier this year I attended a Christies auction offering an exceptional Picasso aquatint print at a guide price £30,000 to £50,000, a Toulouse-Lautrec lithograph sold through Sotheby’s in 2015 for just shy of £11 million.
Prints are also excellent introductory purchases for new collectors, a chance to dip toes into the art market without much risk. However, for both new and experienced collectors alike there are a range of confusing terms and options that can deter purchase. Understanding these is vital for making a considered decision. Our clients have generally found a decent explanation of the lingo to be useful, where many art dealers love the confusion (often intentionally obfuscating to remain as “vital” as possible). Beethoven, Andy Warhol. 102x102cm, screen print on paper, ed. of 60 + 12Aps (part of a March 2020 Bonhams auction)
So, what to consider when assessing the value of a print?
Open vs. Limited editions
The first thing to consider is supply: How many are available? Market forces apply in art as you would expect – scarcity creates value. Openeditions have no cap and are a way to sell at high volume and low value. Appreciation is unlikely however they can be a fun way to buy low-cost art to decorate your home. Limited editions are set to a certain number, though bear in mind that these limits can run to the thousands. To have a chance to at lease hold value you really want to be looking at sizes of 200 to 400. This should cover all size options of the same image. Note that:
Sizes may vary within an edition; usually the larger options will have less availability than the smaller ones.
Prices can rise within the edition; if an artist sells quickly no.1-30 of an edition of 100 they have the ability to change prices.
The first in the edition is usually the most valuable, while an artist/dealer may choose to charge a small premium for no.1 (around 10%) this has the greatest potential for price rises.
Original print vs Reproductions
A print will be one of two things – a reproduction of another work (e.g. an oil painting/watercolour) or an original which only exists as a print. The latter carries greater value as it is the medium chosen by the artist and is often created by their own hand or, if not, under their strict instruction. Advance Town, John Hoyland. 620 x 570mm, Giclée print on paper, ed. of 250
John Hoyland, for example, created a selection of exceptional original prints using a wide range of techniques that creates colours and textures that feel notably distinct from his paintings. We are fortunate enough to have access to some wonderful examples directly from the Hoyland Estate.
Signature and print run number
Limited editions will always be numbered, generally in pencil at the bottom of the print. This shows how many prints are in the run and in what order this one was printed. Generally speaking the larger the number the smaller the value.
Most artists will sign their prints, and some printers will too. Look for this as it has a large impact on price – signed prints are roughly three times more valuable than unsigned versions. The greater proof of authenticity, as is true throughout the art market, the greater the value.
P/Ps, A/Ps, H/Cs, BATs
Other than print run numbers you may run in to the above notations, which has understandably confused our clients. Does this mean these prints are somehow dodgy? Far from. Generally, these terms add significantly to the value of a work. Here’s why. A/P = Artist’s Proof
These are versions unintended to be sold, and are meant to be kept by the artist for their own pleasure. They do often find their way to market and usually sell for higher prices given their rarity. P/P = Printer’s Proof
Similar to Artist’s Proof, there may be one or two copies that the printer may have the right to retain based on an agreement with the artist. H/C = Hors de Commerce
Translated from the French for Do not sell, they can be treated as per A/Ps, and are usually made for galleries or dealers to show. Older works from famous galleries, dealers or artists can be made significantly more valuable with and H/C and solid provenance. B.A.T = Bon A Tirer
Ready for printing pieces are tests made by the printers for the artist’s approval prior to a final set up. They are very rare and can often give insight into the artist’s mind, especially if there are subtle changes made prior to the final edition.
Printing techniques
Printing techniques are broad, from lithography to woodcutting, aquatint to etching, and result in hugely distinct finishes. I could write several articles about each, so rather than go into lots of detail I would encourage you to find prints that you like and then note what technique was used. Over time you will naturally find personal preferences.
Some artists stuck with one technique and one printing studio, others changed throughout their career. Lucien Freud would produce vast numbers of black and white etchings in the days that followed his studio work, Jasper Johns created prints throughout his career where others fell in and out of love with it across their careers. An etching by Lucien Freud, marked as A/P
Whether you are a first-time collector who wants something beautiful for your home, or a collector looking to find value in a congested market, we would advise that you find an advisor you trust and take your time. The process of learning what you want to buy is a fascinating one and the best decisions are usually the slowest ones. Go to some shows, find artists you love who created editions, and continually ask yourself why you love what you love and, perhaps more importantly, why you hate what you hate.
ABOUT THE AUTHOR Oliver Hawkins is a Director at Marshall Murray, an art advisory with years of experience in the curation of artwork for private collections, corporate collectors and design professionals. For further information he can be contacted viaenquiries@marshallmurray.co.uk
Training for AS Monaco football team was formally suspended last week, so the players are now on individual training schedules to ensure they are fighting fit when play resumes.
The La Turbie training centre is shut until the coronavirus threat passes, but players for the Red and Whites are still working hard. Last week, each player came to the centre to collect their personalised training regimen along with a plethora of equipment to take home with them.
The team’s technical and medical staff put together programmes to fit the requirements of every player, and in lieu of collective training have created a next-best-thing scenario to keep the team ready for action when the time comes.
The players were able to borrow bikes, kettle balls, mats and even heart rate monitors. There is also an app that tracks the content of the sessions.
“We have provided all of the players with equipment to meet their needs. Many players have taken bikes and machines from the Training Centre to be able to work at home,” explained physical trainer Juanjo Del Ojo.
♦️ Du #StayAtHomeChallenge ?
♦️ Du travail ?️♂️
♦️ Un anniversaire ???
♦️ Un coup de foudre ⚡️ entre voisins ?
Tout ça dans notre Pause ⏸️ ????????? ?⚪️ du jour ? pic.twitter.com/seQ7kdBCKt
The objective is to keep the players at peak physical fitness whilst upholding a level of uniformity, which is essential for a team. The training sessions are split into three main arenas: cardio, strength training and preventative work.
“We worked on the form of challenges,” Del Ojo said. “Each day, work is associated with a goal and each goal achieved earns points. The players are motivated because they want to win, it’s a good formula to maintain their conditioning. The players have reacted very well.”
The measures were taken to adapt to the current situation, and the team’s doctor and trainer have been in constant contact with players to answer questions and assist in training.
“For me, the most important thing is to have the players active, respecting the constraints imposed by the government of course,” said Del Ojo. “The players are very professional and have quickly understood the requirements. We are also vigilant about how they are managing the situation. It is for this reason that Marc, our psychologist, is in contact with the players to meet their needs. It’s a unique moment. Obviously, we would prefer to be all together at La Turbie, in our facilities. It’s a challenge that we will have to adapt to, but I’m happy with the momentum that we have created and the involvement of all the players and club staff. Everyone is helping to minimise the effects of this situation.”
Chloroquine approved at CHPG, banned in pharmacies
Chloroquine is being used “under very close medical supervision” in Monaco, the Prince’s government has revealed. Meanwhile, pharmacies have been banned from selling the anti-malarial drug as concern rises over self-medication.
It was announced on Monday 23rd March that chloroquine can be administered in France to patients suffering from the severest forms of the coronavirus but only under strict supervision, France’s Health Minister Olivier Veran said.
Less than 24 hours later, Monaco’s Minister of Social Affairs and Health Didier Gamerdinger gave a public address, saying that the Princess Grace Hospital is administering chloroquine “under very close medical supervision while being attentive to its undesirable side effects”.
“Because this molecule presents risks of improper use and overdose causing cardiac and renal problems, it will only be delivered or used after close control and under medical supervision,” said the minister.
Mr Gamerdinger revealed that Monaco is preserving its stocks of chloroquine and “preventing dangerous self-medication”.
Patients already on chloroquine treatment will still be able to obtain the drug from a designated pharmacy in the Principality.
Meanwhile, the minister revealed that four new cases of Covid-19 had been confirmed in the Principality since Sunday, bringing the total to 27. “Ten of these are hospitalised, the others are being monitored at home, but not all of them are Monegasque residents,” said Mr Gamerdinger, acknowledging that the CHPG has a responsibility to take care of people from neighbouring municipalities. “The health situation remains manageable given this development. We are not yet on a very rapid increase in the epidemic,” he added.
The minister said that a new large delivery of hydro-alcoholic gel has been made to health professionals while a large number of masks is expected to arrive in the coming days.
After testing positive for Covid-19 last week, Prince Albert has gone on the record to speak about the state of his health, the measures being taken in Monaco to combat the virus and his doubts over whether the Olympic Games would go ahead this summer.
In an interview with RTL on Monday 23rd March, the Sovereign Prince said that all “is fine” at the Palace despite returning a positive test for the novel coronavirus.
“The first symptoms appeared on Sunday night into Monday 15th March,” said Prince Albert, “so it’s been a good week. I did not have the result of my test until Wednesday, but I suspected it as there were symptoms that were beginning to speak.”
He went on to say that he “had no loss of taste or smell. At first it was like a cold coming, the cough did not come right away. Afterwards, we saw that I had a bit of a fever, but these are fairly minor symptoms.”
Given the mildness of his case, the Prince of Monaco opted for home confinement rather than hospital treatment. So far, he has also been kept off chloroquine, the current treatment given to patients with more severe forms of the disease.
The Prince went on to talk about the measures being taken to stop the spread of Covid-19 and how the Principality has followed France in establishing home confinement protocols as well as nightly curfews to ensure people stay indoors and do not try to flout the system, thus becoming dangers to others as well as themselves.
As a member of the International Olympic Committee, HSH Prince Albert II said that a postponement of two or three months would be a reasonable solution for the upcoming Tokyo 2020 Olympic Games, and would allow all countries to participate safely.
By Tuesday, the International Olympic Committee had confirmed that the event, due to begin on 24th July, would be postponed until the summer of 2021.
Meanwhile, on Friday 20th March, the Palace released a statement saying that the Prince was “touched by the many expressions of sympathy that came to him from all over the world,” adding, “His Serene Highness wishes to thank all those who have shown their support for Him. The Sovereign Prince remains confined in His apartments in the Palace. He continues to work with his closest collaborators in compliance with health precaution rules. His health, monitored several times a day by his doctors, does not cause any concern.”
“Patience, confidence, courage and solidarity,” signed the Prince.
Prince Albert has established a monitoring committee to manage the Covid-19 crisis in Monaco after a call by the National Council for a collaborative approach.
HSH Prince Albert II issued a press release on Monday 23rd March responding to an open letter sent by the National Council requesting the formation of a Covid-19 task force to manage the most serious crisis seen in the Principality since World War II.
The Covid monitoring committee will be headed up by the Minister of State, Serge Telle. Representatives of the Assembly will be informed of all decisions, both pending or already made, by the Prince’s government while the National Council will be able to make proposals to the government through the committee.
This unprecedented peacetime committee is authorised to put systems in place via Sovereign Ordinance, which shall be signed in the coming days.
The Prince’s government says the committee will follow protocol within the strict framework of its constitutional powers in order to keep Monaco institutions functioning during the crisis period and is calling for national unity and support to help make this happen.
Aware of the consequences this health crisis is having on everyone’s lives, the Prince is reminding the citizens of Monaco of his “total commitment to the implementation of necessary measures” to ensure the safety of all and the quick return to normalcy.
Prince Albert has also expressed his thanks to those who have mobilised to help during these challenging times, notably the staff from the State and Commune Services, from health, rescue and security departments, as well as volunteers.
Top photo: Stéphane Valeri during a recent Assembly meeting, courtesy Conseil National de Monaco
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