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Artwork insured for £100 million departs East End for new home

PUBLISHED: 19:00 26 October 2016 | UPDATED: 11:29 27 October 2016

The London Picture Centre owner Marek Gajbutowicz with artwork by the artist known as X which has been insured for £100 million

The London Picture Centre owner Marek Gajbutowicz with artwork by the artist known as X which has been insured for £100 million

Archant

An artwork which has been sitting with an East End proprietor for the last few weeks has moved to its new home after it was insured for a whopping £100 million.

The London Picture Centre owner Marek Gajbutowicz with artwork by the artist known as X which has been insured for £100 millionThe London Picture Centre owner Marek Gajbutowicz with artwork by the artist known as X which has been insured for £100 million

The piece, known as Dark Matter, was created by a conceptual artist, who goes by the alias X, and moved from the London Picture Centre, in Bethnal Green, to its new owner, whose identity is confidential, on Monday.

From the naked eye the artwork seems like no more than a black square but in reality it consists of one trillion squares.

The idea for the artwork came when X visited a family friend who works as a scientist.

“We had a discussion about whether science is art or art is science, and that’s where we got the idea to use computer technology to create an artwork.

The London Picture Centre owner Marek Gajbutowicz with artwork by the artist known as X which has been insured for £100 millionThe London Picture Centre owner Marek Gajbutowicz with artwork by the artist known as X which has been insured for £100 million

“We started with a one metre square board and it was attached with a trillion squares. Basically we burn the squares with a laser which turns what was board into black and darker matter.

“To you and I, and the human eye, it looks like a black board. If one gets a microscope you can see a trillion squares.

“This is something that is utterly complex but appears to be something very simplistic.

However despite the complexity of the artwork X is under no illusion that some people will raise an eyebrow at how much it was insured for, and what makes a piece of art more valuable than the next.

“I was looking at it in terms of one has a £100 million artwork, one can buy mansions or a fleet Bentleys but what we have is effectively is a blank piece of art.”

X also had high praise for the London Picture Centre, which is owned by Marek Gajbutowicz, for their excellent service.

“It’s a local business and they are the best I’ve ever found at any place,” said X. “They are reliable, competitive and they make my art look a million dollars.”

Make that a £100 million X.

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