Derivatives are a common instrument in the financial market mainly for the purposes of speculating and hedging, or betting on or insuring against risk. Derivatives have been an entirely unregulated segment of the financial industry and played a significant role in the economic collapse in 2008. In the art world, ‘derivative’ is both a pejorative word used to describe works that are insufficiently original and a common method of determining value by establishing artistic lineage ie; “Urs Fischer is the next Jeff Koons.” Art is also an investment tool involving an unspoken contract between two parties with assumptions about the resulting values of the underlying variables of a particular work or artist. Artist William Powhida wants to turn this notion on it’s ass with his latest body of work.
In his first solo exhibition with Postmasters Gallery, the works in the exhibition are derived from other sources both public and private that explore how value is also derived in different economies from underlying variables including philosophy, belief, ideology, and perception.
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GREATeclectic aka Kendrick Daye is a DJ, artist and the Editor of Art Nouveau Magazine. As a freelance journalist and photographer his work has been featured in the NY Times Magazine, Ebony Magazine, Upscale Magazine, Creative Loafing, Honeymag.com & Yo-Raps.com.
