Selected Works of International Artist Donray Purchased by New York Financial Services Company, Prestige Financial Center
* Reuters is not responsible for the content in this press release.
DALLAS--(Business Wire)-- Selected acrylic paintings by American Expressionist Donray have been acquired by Manhattan-based Prestige Financial Center, which provides high quality financial services to institutional, individuals and corporations. Included in the purchase were three of the artist`s noted paintings, including the color emblazoned self-portrait, CrazyDuke. This represents the second time in as many months that a corporation has purchased major works from the artist. Prestige Financial Center plans to display the Donray works in its Manhattan headquarters. In late February 2009, Allegiance Capital Corporation, a full-service investment banking firm servicing middle market companies worldwide, announced its purchase of a large number of works from Donray. While terms of the Allegiance sale were undisclosed, it included one of the artist's smaller acrylic works, Blue Laced Red Wyandotte, part of his recently completed Roosters collection. The painting is valued at $15,000. During the last two decades, corporate purchases have comprised a quarter of the art market in New York City and half the market for art outside of New York City. "While we think this is a good investment for our company, many of our high-net worth clients who visit our office understand and appreciate fine art," said Lawrence Foont, Senior Options Principal of Prestige Financial Center. "For the most part, we did this for them as a way to show the commonality between us and demonstrate how much we appreciate their business." Donray is a painter with an increasingly strong reputation for his dynamic and compelling post-modern works. "We are very excited about this acquisition and the opportunity to offer it for public enjoyment. The depth of Donray`s work is quite unique," said Foont. "You really have to define each piece, to do your own personal search for what it means. Donray doesn`t spell it out for you - he wants you to be inspired." Winter Kill, (a snow leopard hunting for survival in a harsh climate) one of the paintings purchased by Friedman Schnaier, reveals what brokers must do for their clients and the bond shared between brokers and clients, according to Foont. "This particular painting will be placed in our company`s lobby area where clients first arrive. It offers us a truly unusual way to break the ice," said Foont. Winter Kill was specifically mentioned in an essay by famed critic, Donald Kuspit, where he remarked that the painting made an immediate impact on his psyche and that it remained vividly in his memory. "Yet our favorite is Donray`s self-portrait, Crazy Duke," said Foont. "The use of red is magnificent, exuding power and superiority. The artist`s mind appears to be on fire. There`s not a better message to send to our clients." In many of his acrylic paintings, Donray continues to use an innovative technique that he pioneered involving an acrylic-on-acrylic collage created by the artist. The collage material is the same as what is being used to paint with, and developed through a tedious process of mixing, pouring, manipulation and cutting. The result is a dramatic display of intermingling color, texture, reflecting light and exciting energy. About the Artist Often called an American Expressionist, Donray`s works have been lauded on both sides of the Atlantic.Powerful, energetic, pulsating and sometimes dreamlike, his use of color, movement and imagery is emotional, visceral and thought-provoking.Many of his works use human and animal imagery to create moments of breathtaking lightness and transcendency and provide other moments of profound gravity and intensity.In particular, his unique technique involving acrylic on acrylic collage provides many of his canvas works a depth not commonly found in the art world. You may learn more about Donray at Wikipedia, or via a Web site set up by his supporters at http://www.donrayartist.com/. Allegiance Capital Corporation Dar Hackbarth, 214-217-7737 Vice President of Marketing firstname.lastname@example.org or Michael A. Burns & Associates, PR Susan Lomelino, 214-521-8596 Senior VP/Director email@example.com Copyright Business Wire 2009