Annie Leibovitz's troubles continue growing

Leibovitz is $30 Million in debt and losing sales. Interesting article about her and the photography art world in Financial Times.

http://www.ft.com …df-af09-00144feabdc0.html

Comments?

The thing that I found interesting in the article was the paragraph where they said that she started to spend like the people that she was photographing. Her need to have a "rich and famous" lifestyle has put her in this situation and I don't have any empathy for those that spend money they don't have. Her images at art auctions are getting a fraction of what she had aspired to, some getting only in the hundreds of dollars. If history is to be repeated at all her prints will probably reach the levels she wants once she has left this earth. Dead photographers seem to do better than those of us still walking around.

I have followed this story for awhile now and she seems to have burnt many bridges along the way. I don't see her getting out from underneath this kind of debt without some level of bankruptcy.

It's a common trait, and one that seems to come up in threads here, that professional photography is business first, photography second. Leibovitz has been such a commodity over the years that her financial power had been abused by managers and agents - the worst way being the fact that nobody told her her lifestyle was unsustainable.

On a side note her photos from the Bosnian conflict are as good as any war photographer. She's an easy target for a lot of people, but underneath the facade of her celebrity standing is a incredible photographer.

When people have tragedies and misfortune befall them that is not of their own doing, they deserve our sympathy and our help.

Annie is not one of them.

As Sheldon points out, Annie's problems can be summarized easily: she mismanaged her money and her life.

Although I do not take joy in her problems, I find it very hard to gather sympathy for the movie star, the sports star - and the photographer - who was given a chance at greatness but then just pisses it away.

The article was more about photography in the art market than it was about Leibovitz. Any photographer involved in the art market is being affected by the same issues.

Of particular note, as you get to the bottom of the article, is the debilitating effect on photographic art that the rarity of any particular photograph or of the body of work of any particular photographer is ambiguous...and the fact that rarity is a major factor in determining the the value of most art. (Photographic art is not all alone in this--it's the same factor that depresses the prices of screened art as well.)

This has only gotten worse for photographic art in the digital realm. A film photographer could, at least, destroy the negative.

Yep, she brought the troubles on herself...lets see 3 houses in NY's Greenwich Village etc...she failed basic business 101...and it caught up to her..I agree though she is very talented, but we all know talent alone wont carry you but so far...

Wasn't Trump in the same situation several years ago? She could do a tv show for photographers.

Trump filed bankruptcy three times. IIRC, at one point I think his personal debt was $900 million. Leibovitz has some catching up to do before starving enough to get her TV show. Or maybe she should try a starving artists show at the Holiday Inn if she's having trouble attracting buyers at Christie's or Sotheby's.

The difference though is Trump has business contacts (and a small amount of business sense)..how else do you bankrupt 3 times and still be able to come back and go again..and besides those who try & fail & try again, tend to make better business people overall than those who never try in the first place...Anne wanted to do things her way, or the highway..not usually a good attitude if you need peoples help down the road

Annie spent money like it grew on the trees in Central Park. In the years leading up to the recession, her longtime relationship fell ill and passed away leaving her property and huge inheritance tax bills, she didn't pay freelance talent, rental house bills and her revenue went down. How can one feel sorry for someone that conducts their business like that? How about taking a loss on the properties and simply move on with life?

ssim wrote in post #11179443
Her images at art auctions are getting a fraction of what she had aspired to, some getting only in the hundreds of dollars. If history is to be repeated at all her prints will probably reach the levels she wants once she has left this earth. Dead photographers seem to do better than those of us still walking around.

Yeppers, now's the time to invest in the Leibovitz fire sale. Will definitely pay off in the future.

jblaschke wrote in post #11182941
Yeppers, now's the time to invest in the Leibovitz fire sale. Will definitely pay off in the future.

They'd probably only be valuable if she actually signs her prints, which seems to be the current problem since other buyers are waiting 6 months to get a print signed.

I can't fathom being $30 million in debt for any reason. Damn, I freak about owing $200 for an electric bill.

Edit: Interesting article too.

Jon.