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Has Conceptual Art Reached Its Peak?Mouli Cohen, experienced art collector,discusses the future of the art business andthe recessions effect on the conceptual artmarket.

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With the art market being affected dramatically by theoverall global financial recession the world is starting to

question the validity and value of some “conceptual” art byliving artists*. The skill of playing inventively with ideas hastaken precedence over the technical skill of years past.With this new recession some argue that this is trend is

reversing. We sat with art collector Mouli Cohen to discusshis take on the matter.

*http://www.nytimes.com/2009/10/16/opinion/16dutton.html?emc=eta1

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Question:What does “art” mean to you?

Mouli Cohen: Art is creative expression. Itʼs taking a look

deep inside you and translating that feeling into materialform. Itʼs not always emotional of course. Smart art exists,especially today, and some of that is the best art. You mightin fact say conceptual art is the purest form of art. In some

ways it is most like the first forms of art, cave paintings, inthat conceptual art strives to break down our idea of howsomething can be represented.

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Question:Philosophy of Art professor Dennis Duttonrecently published an Op-Ed in the New York Times

suggesting conceptual art has “jumped the shark” Do youthink thereʼs any truth to that?

Mouli Cohen: Well, in a word, no. I understand that thereis concern that a Damien Hirst shark tank or medicine

cabinet wonʼt hold the same value in the future as a workthat demonstrates obvious skill or craft. But art is valuablenot just for its overt appearance, but for its history, itscontext, the questions that it asks. Go to any auction andyouʼll quickly realize thereʼs no correlation between whatʼsselling and itʼs obvious aesthetics. Art is not merelyaesthetics.

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Question:You

ʼve been collecting art for a number of yearsnow. Is investment your primary concern when deciding

what to purchase?

Mouli Cohen: Iʼd be lying if I said I donʼt think about art asan investment. My modest collection has beat the S&P bysomething like 5% for the past 30 years. But buying art isnʼt

all about money. If I didnʼt buy what I like, what I like seeing

on my wall, then Iʼm pretty sure my collection wouldnʼt putup the returns it does. Youʼve got to appreciate art to haveany chance of picking a piece that will appreciate in value. Ipick what I like first. Everything else comes after that.

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Question:How do you feel about the current state ofmodern art?

Mouli Cohen: [Laughs] Well, I can tell you now I have noidea whatʼs being created in the studioʼs of the world rightthis second. We wonʼt have a clear understanding of thecurrent state of the arts until a few years from now. I can

tell you Iʼm very interested in the burgeoning art scene in

the Middle East and the Far East. Thereʼs an incredibleamount of creative innovation happening over there as theresult of globalization and, well, conflict. The mostfascinating things bubble up from the chasm of crisis.

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Question:Are there any particular Eastern artists youadmire?

Mouli Cohen: There are many. Iʼve recently looked at anumber of pieces by the Iranian calligrapher MohamedEhsai. His work turns words into art, and begs the viewer toappreciate more than the significance of the phrase. Some

of his pieces are now selling for more than a million dollars.

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Question:The first Da Vinci painting to be discovered inover 100 years was unveiled last week. Do you think more

of his paintings will surface in the future?

Mouli Cohen: I would expect more to surface over time.Though there will probably be a lot more imposters thanauthentic works. The science that goes into confirming the

authorship of one of these multi-million dollar pieces ismore complex than I can tell you. Apparently forensicscientists found a partial finger print on the new piece thatmatched one found on an unfinished painting at theVatican. Thatʼs just one of a dozen clues which led toexperts confirming the new piece as a Da Vinci.

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Question: Where do you see the direction of art going in

the next decade?

Mouli Cohen: The influence of the East will continue togrow at the auction house – both in terms of the art beingsold and those buying it. Thereʼs too much interesting stuffgoing on in the Eastern Hemisphere for Americans to stay

in the dark. Beyond that, there will continue to be more andmore of a digital influence in whatʼs really cutting edge.Buyers are always hesitant to put their money into videoand other digital media, for obvious reasons most of whichhave to do with authenticity concerns, but digital will onlyget bigger in art, as it will in every other facet of life.Multiculturalism will also be big. Cultures will be mixed, and

traditions will get tossed together in unpredictable ways in

the future. Iʼm very much looking forward to it.

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 About Mouli Cohen

Mouil Cohen, founder of Voltage Capital,

has been a leading businessman for over30 years. Mouli is a life long art collector

and owner of many master works by artistssuch as Picasso and Matisse.

Mouli Cohenʼs philanthropic work ofteninvolves art education and historically hehas been a generous supporter of

museums in his local community.

Mouli Cohen was most recently a co-chairof the Mount Sinai Breakfast of Legends,hosted by Katie Couric. Learn more ofMouli Cohenʼs thoughts on business and

philanthropy at his website moulicohen.com