This story in the Financial Times Magazine on Annie L. is fascinating, but not because I want to revel in her financial misfortune or the “disparity between Annie’s importance as a photographer and the price fetched by her work in the art market.”
I recall a very smart quote from one of my commenters admonishing readers to “make no mistake, fine art photography is as commercial as commercial photography.” So, for me the thread in the story on how the photography art market works and how difficult it is for editorial and commercial photographers to play is very fascinating. As Michael Wilson, a producer of Bond films and owner one of the largest private collections of photography in the world puts it: “Art is basically what a bunch of collectors and curators say it is, there is no getting around that.”
The Leibovitz story, however, is more than a tale of a photographer who got absorbed into the high-spending world of the people she portrays. It is a reflection of something unexpected – that, despite all her celebrity and talent, Leibovitz lacks earning power as an artist.
The whole story is (here).