Castillo de Chapultepec's 2024 auction

Castillo de Chapultepec auction¹ is a periodic auction of contemporary art intended as a collective financial model of a local artistic community. This pilot scheme seeks to respond to a fair distribution² of resources related to each person's contribution and to explore other collaboration mechanisms.³

○ Artist: 45%

○ It is distributed equally among all participating artists: 10%

○ Event expenses: 10%

○ Continue with the development of Castillo de Chapultepec: 35% In this first edition, 125 artists participate, each with a unique and relevant work within their body of work.

General information:

● Date: February 6 - 10, 2024 (during Mexico City art week)

○ Tuesday 6 | 4-10 pm (inauguration and auction opening)

○ Wednesday 7 | 4-10 pm

○ Thursday 8 | 4-10 pm

○ Friday 9 | 4-10 pm

○ Saturday 10 | 4-10 pm (closing and closure of auctions)

● Access: $200 plus service charge⁴

● Registration to bid: All bids will be received through the online platform on the official Castillo de Chapultepec WebSite

Participating artists

Abraham González Pacheco, Adriana Lara, Alberto Acinas, Alberto Perera, Alejandro Ceballos (†), Aleph Escobedo, Alicia Valladares / Fernando Gress Muñoz, Anahí Juárez, Andi García, Andrea Ferreyra, Andrew Birk, Andrés Orozco Cabrera, Andy Medina, Artemio, ASH, Aureliano Alvarado Faesler ModoChiki], Avantgardo, BARRAGÁN, Beth Frey, Betty Arbol, Biquini Wax, bruno darío (†), Bruno Ruiz + RRD, Carolina Fusilier, Chavis Mármol, Chelsea Culprit, Chintete, Cristobal Gracia, Inverted Crater,, Daniel Aguilar Ruvalcaba, David Vera, David Zafra, Diana Cantarey, Diego Berruecos, Diego Gamaliel, Diego Teo, Débora Delmar, Ektor Garcia, Elsa-Louise Manceaux, Eunice Adorno, Fabien Cappello, Fernanda Barreto, Georgia Horgan, Gerardo Contreras, Gibrán Mendoza , Gibrán Turón, Guillermo Rosas, Guillermo Santamarina, Gustavo Díaz, Hiroshi Okuno, Hugo Montoya, Ileana Moreno, Iraq Morales, Isaac Olvera, Iñaki Bonillas, Íñigo Malvido, Javier Fresneda, Jerónimo Rüedi, Jesh Martin, Jofff@, Jonathan Hernández, Jonathan Miralda Fuksman, Jorge Bobadilla Vargas, Jorge Satorre, Josué Mejía, José G.) Rivera, José Eduardo Barajas, Jou Morales, Juan Diego, Juan José Gurrola (†), Juan Pablo Villegas, Julio García Aguilar, Julián Madero, Karla Kaplun, Kasser Sánchez, Katia Tirado, Kristin Reger, Leah Dixon, Leonardo Ascencio, Lucas Lugarinho, Luis F. Muñoz, Manuel Solano, Manuel Uhthoff Rodriguez (Xau), Manuela García, Marcos Kurtycz (†), Marek Wolfryd, Mario Rangel Faz († ), Mauricio Marcín Álvarez, Miguel Cinta Robles, Mili Herrera, Mono Rojo Salvador Núñez), Naoya Sakaguchi, Newton, Pachiclón, Paloma Contreras Lomas, Pamela del Moral, Pedro Diego Alvarado Rivera, Pepx Romero, Pía Camil, Rachel Levit Ruiz, Ramiro Chaves, Ramón Saturnino, Rocío Boliver aka La Congelada de Uva, Romeo Gómez López, Samuel Guerrero, Samuel Nicolle, SANGREE, Santi Marín, Sector Reforma / Antonio Caro, Selfis, Sonia Bandura, Theo Michael, Tomás Díaz Cedeño, Urbano Mata, Urmeer , Vidal Martínez, Víctor del Oral, Waysatta, Wendy Cabrera Rubio / Mauricio Guillén, Willie Gurner, Winnie Cooper Diego Teo, Jazael Olguin Zapata, Waysatta), Yann Gerstberger, Yope Project Space, Yvonne Venegas and ZOMBRA.

● Auctioneer: Katia Tirado

● Host: Don Charles

● Galleries that work with some of the participating artists: AGO Projects, Anonymous+RP, Campeche, compás 88, Gaga, Galería Agustina Ferreyra, Galería Karen Huber, Galerie Nordenhake, General Expenses, guadalajara90210, kurimanzutto, La Chispita, Labor, Le Laboratoire , LLANO, Lodos, OMR, Pamela Weissenberg, Parallel Oaxaca, PEANA, Pequod Co., PARALLEL PROJECT, Multipurpose Projects, Saenger Gallery and Salón Silicón.

● Allies: Ritch Mueller (since 2012, Greenberg Traurig (since 2012, Bose (since 2021), Mezcal San Cosme (since 2021, JCS Asesoría Contable Administrativa (since 2023), Grupo Habita (since 2024, Local.mx (since 2024, Morillo Shk (since 2024, Onda MX (since 2024), Passline (since 2024, Radio Nopal (since 2024), Unión Veri Bari (since 2024) and Working Vacations (since 2024)

● Dynamics: All auctions will begin simultaneously on Tuesday, February 6 at 4 pm and will remain open until Saturday, February 10, when they will close staggered between 4 and 10 pm.

All the works will be exhibited at the event location and there will be a team of people informing about the dynamics, the works and the artists.

You can start bidding from the start time of the event without having to be present.

All bids will be received through the online platform, where the progress of the auctions can be monitored live.

On Saturday the 10th, the auctioneer will be narrating the closing of each auction at the event location and at the end of each auction's time, the registered user with the highest bid will be the winner.

○ Prices:⁵

Estimated value: Range of the estimated value of the work in the market.⁶

Starting price: Price at which the work goes up for auction.⁷

Sale price: Value of the current bid at the time of closing.

○ Registration:

Users interested in bidding must register on the online platform auction.elcastillodechapultepec.com, and make a refundable deposit of $100 USD, which will be returned at the end if the user did not win any auction or after the user has paid all the auctions he won.

○ Bids:

Users who wish to bid in an auction must do so through our system that places automatic bids on their behalf, entering the maximum bid they are willing to pay, which will be accepted if it is greater than or equal to the current bid amount plus the minimum increase established for each work. We recommend that you simply enter the maximum price you are willing to pay for the work and let our system automatically place all resulting bids. Every time a new user submits a bid, the current bid amount will increase by value of the second highest bid plus the minimum increase. Finally, when the auction closes, the work is assigned to the user who has entered the highest bid into the system and that user pays the current bid price.

Example: Let's consider an auction for a work of art with a starting price of $200 and with a minimum increase to be able to place a bid of $25. After the auction begins, a first user arrives who values the work at $600 and therefore enters that amount into the system as his bid. In response, the system automatically submits a bid on your behalf for $200 (the starting price) and the current bid is updated to that amount.

Shortly after, another user becomes interested in the work and values it at $340 and therefore enters that amount into the system as his bid. Note that this bid is valid because it is greater than the current bid plus the minimum increase $340 > $200 + $25. Now, since the first user has entered a higher bid, the system sends an automatic bid on behalf of the second user for $340 and another automatic bid on behalf of the first user for $365 (that is, $340 + $25. Therefore, the The current bid is updated to $365 in favor of the first user and the second user is immediately informed that they have been outbid.

It should be noted that if the auction closed at this point, the user with the highest bid would win, but would pay less than the value of their bid: they would pay the second highest valuation plus the minimum increase (i.e. $340 + $25 = $365. Now let's imagine that a third user values the work at $800 and therefore enters that amount into the system as his bid. Now, since the first user has entered a lower amount $600, the system sends an automatic bid on behalf of the user. first user for that amount and another in the name of the third user for $625 (that is, $600 + $25. Therefore, the current bid is updated to $625 in favor of the third user. In this case, the first user would no longer be the winner of the auction and a notification would arrive to inform you. Again, if the auction closed at this point, the user with the highest bid would win, but would pay less than the value of their bid $800 would pay the second highest valuation more the minimum increase (i.e., $600 + $25 = $625.)

○ Payment method:

Immediately after an auction ends, the winner will receive by email a receipt in the amount of the sales price plus tax, which must be paid, no later than 24 hours later, online or at the event location with any card, by bank transfer or in cash at the event location.

Payments will be made in Mexican pesos and will be converted from dollars to pesos using the exchange rate established by the Bank of Mexico at the time of purchase on the day of the event.

○ Delivery:

The works, along with the certificates of authenticity, will be delivered to the winning users at the event location starting Monday, February 19, from Monday to Friday from 11 am to 4 pm, once the payment has been made. .

Castillo de Chapultepec can manage the packaging and shipping of the works to the place specified by the buyer and the cost will be borne by the buyer.

The works will be delivered in the physical state in which they are at the time of the auction.

— Castillo de Chapultepec

[1] Castillo de Chapultepec is a developing cultural institution managed by the architecture office APRDELESP: A superlocal site of artistic, political and social experimentation driven by the desire to reconfigure and imagine alternatives built from collective efforts. His character is forged through the accumulation of time and the efforts of many actors. It works with a governance system based on the management of resources – space, time, thoughts, money and memory – and risks. It seeks to cover a need that, more than competing with other existing institutions, adds critical, accessible and quality infrastructure to Mexico City. It will be a place that fosters connections and dialogues to respond to the questions of the present. Castillo de Chapultepec will provide infrastructure to share, produce, exhibit, sell and archive the work of a local artistic community. It is made up of an archive that will house artists' material, a library, an art collection, an information kiosk and souvenir shop, a lobby-bar, residences, event rooms, etc.

[2] After production costs of the work.

[3] Castillo de Chapultepec will be a non-profit institution. However, in the event that the artist is represented by a national gallery that requires a percentage for consignment sales, it is suggested to divide this percentage as follows:

- Artist: 40%

- It is distributed equally among all artists: 10%

- Gallery: 10%

- Event expenses: 10%

- Continue with the development of Castillo de Chapultepec: 30%

[4] The same ticket applies to all days of the event.

[5]All values will be published in dollars.

[6] Each artist defined an estimated market price for their work and from that a range was defined.

[7] Based on the estimated value provided by the artist, El Castillo de Chapultepec proposed a starting price, which the artist approved. All works have a different starting price.