Transactionism: State of the Art Transaction

 

Concept

            Transactionism: State of the Art Transaction is an “economically-limited edition” photographically based work documenting and exploiting the commodity relationship between artist and collector by exploring patronage, valuation, and validation.  The work consists of a procedure in which the collector/patron first contractually agrees to purchase a Transactionism photograph for a specified value.  Then, an appointment is made for payment to be exchanged and for a studio photograph to be taken of the patron presenting a novelty oversized check [which the patron writes out] to the artist in a neutral, white space along with a balloon or balloons and possibly confetti – whichever is to the patron’s liking.  This photograph, which documents the “ecstatic moment” of the transaction, is later presented to the patron as the product that they have purchased.  Each consecutive transaction increases in price according to a pre-established system of incrementation, thereby causing the edition of the piece to be “economically-limited.”  In other words, the edition will remain open throughout the life of the artist, though the photographs will only continue to be produced so long as patrons feel that the going market price of the photograph is reasonably consistent with the perceived value of the artist’s work.  The implications of this self-capping economic system are further amplified by the rule that all Transactionism photographs ever produced will be printed at the same size: 16 x 20 inches.  There will be no physical difference between a photograph of a $100 transaction and that of a $5,000 transaction other than the appearance on the checks of the differing prices.  Additionally, each individual photograph will be limited to an edition of one – no other copies, not even an artist’s proof, will be printed.

 

Overhead Diagram of Action

 

Examples of the Finished Product

            Note – These are not actual Transactionisms – they were staged for illustrative purposes, only, and do not document the actual exchange of money of any kind, nor were copies given to the participants

Guideline for Price Incrementation
The going market price is determined by the following mathematical formula:

market price = 180.6462857965*(1.0185102927725^t) - 50

where t = patron number

Please contact the artist to find out the going price at any time.

 

Derivative Transactionism

            Patrons are advised to retain the artist’s contact information.  If at any time a patron wishes to sell their Transactionism to another collector (which they may do at any price they negotiate), they have an option to partake in Derivative Transactionism.  In this recursive stage of Transactionism, the patron is photographed selling their original photograph to the new buyer while also presenting a check for Derivative Transactionism to the artist.  This new photograph is then presented to the original patron.  The new buyer may also have the option of purchasing one such photograph, in which case another check will appear within the new photograph.  All Derivative Transactionisms shall occur at the going market price for a regular Transactionism and shall influence the incrementation of the market as per the guidelines established above.  An example is shown here (Again, this is not an actual Derivative Transactionism – it was staged for illustrative purposes, only, and does not document the exchange of money of any kind, nor were copies given to the participants):

Appointments

            Transactionism is conducted on an appointment basis.  For further information and bookings, please contact the artist:

PostMichael McKeeism
345 Eldert Street #7
Brooklyn, NY 11237

646.285.7965 (cell)

postartist@postmichaelmckeeism.com