The Institute of Contemporary Art and the Wharton School Announce New Collaborative Series on The Business of Art

Philadelphia, PA, Sept. 18, 2006 -– The Institute of Contemporary Art (ICA) in collaboration with the Wharton School of the University of Pennsylvania is pleased to present The Business of Art, a series of ongoing collaborations commencing in 2006. This series marks the synthesis of two prestigious institutions and opens with its inaugural event Dealers and Collectors on the evening of Oct. 4 at 5:00 p.m. in Jon M. Huntsman M. Hall. The series begins with ICA overseer and art collector Glenn Fuhrman, W’87, WG’88, who will conduct a conversation with dealer Larry Gagosian who Art Review magazine called “the world’s greatest art businessman.”

Claudia Gould, director of ICA, says of the partnership “We believe that this initiative between two world-class institutions allows both organizations to leverage their combined strengths by addressing overlapping topics in both of our fields. This type of collaboration can only happen between a contemporary institution such as the ICA and the Wharton School, one of the most prestigious business schools in the world, both of which are located on the Penn campus. It’s a natural.”

"Wharton is very pleased to be a part of the Business of Art initiative, and we're looking forward to a very successful series," said Patrick T. Harker, dean of the Wharton School. "It's yet another example of the richness of opportunities for collaboration across the various world-class groups within the Penn community."

Established as part of an effort to create innovative programming and an interdisciplinary approach to education, The Business of Art will enable students, faculty and the general public to take part in the conversion about business and art coming together by providing access to leaders in both fields. Other topics being considered in the coming year are The New Philanthropy and The Art World and the Media. A confirmed schedule will be announced soon.

Larry Gagosian is perhaps New York’s most exotic and most talked about art dealer. He was born in Los Angeles in 1945 and started by selling posters in Santa Monica in the 1970s. Today he has galleries around the world including two galleries in New York, two galleries in London, a gallery in Beverly Hills, and a gallery in Rome. Art Review has said “If artists today are defined less by their styles than by the prices they command, then no individual has done more to change that market than the dealer called GoGo." Larry Gagosian is one of the most prominent art dealers in the world, showing artists such as Cy Twombly, Damien Hirst, Richard Serra, Joseph Beuys, Jeff Koons, Ed Ruscha and Rachel Whiteread. Mr. Gagosian also represents the estates of Arshile Gorky, Roy Lichtenstein, Willem de Kooning, David Smith, and Andy Warhol.

This year also marks the 125th anniversary of the Wharton School’s contributions to global business practice, achievements of their alumni and the many new programs, ideas and tools, being developed and delivered to students, business leaders and policy makers. In celebration of this anniversary, events featuring world-class faculty, distinguished alumni and other key business and policy leaders in cities throughout the world will take place through June 2007.

The Spiegel Fund
The Emily and Jerry Spiegel Fund to Support Contemporary Culture and Visual Arts has been created to support an innovative, interdisciplinary approach to education that will enhance collaboration at the University of Pennsylvania among its academic departments and cultural institutions. Spiegel Fund events are designed to raise the level of conversation among Penn’s students and faculty about art, particularly art that crosses disciplinary and cultural boundaries. The Spiegel Fund is administered by the University’s Provost Office.

All programs subject to change. Please visit the ICA website, for more information on programs in conjunction with The Business of Art.

Institute of Contemporary Art
Founded in 1963, the Institute of Contemporary Art at the University of Pennsylvania is a leader in the presentation and documentation of contemporary art. Through exhibitions, commissions, educational programs, and publications, ICA invites the public to share in the experience, interpretation and understanding of the work of established and emerging artists.