Revealing the name that every savvy art collector should remember

 A name for the future, and the present: Theaster Gates.

An artwork by the Chicago resident far exceeded its $20,000 estimate with a $39,000 showing at a fundraising art auction in Colorado on Saturday August 13.

Every art collector dreams of owning the next big thing before prices soar. It appears we could be on the cusp of that moment with Gates.

The 37-year-old's work has been capturing the attention of the nationwide arts scene but on this evidence could be about to go global.

The Anderson Ranch Art Center: Theaster Gates is acquiring a large following

Known for his installation art, Gates's striking piece, which features a fire hose, was the biggest sale at the Anderson Ranch Art Center auction in Aspen, Colorado.

The 260 pieces of art at the 31st Annual Art Auction raised $509,000 to fund the art centre's programmes.

Until last year Gates had gained just a small following in Chicago for his performance art, but it is his installations that are bringing him to the attention of the masses, reports Bloomberg.

Ahead of the auction, art enthusiast Dennis Scholl told the publication: "If you are a contemporary art collector in Aspen this August, it's going to be pretty hard avoiding hearing about Theaster Gates."

"He's on the list of every contemporary collector right now."

Gates's works can be seen at the Brooklyn Museum in New York as well as Minneapolis' Walker Art Center.

His first solo show took place at the Kavi Gupta Gallery in Chicago earlier this year. All the pieces had sold before the doors opened, with some works going for as much as $50,000.


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