The impact an outstanding art collection can have
Investment in art has been a popular form of deposit investment for several decades, and the art world economy is a relatively unexplored area of financial exchange. In an increasingly booming art market, it is worth considering ways of further increasing your art’s worth.
The best way to increase monetary value lies in the collection of artworks. An art collection does not consist of a random array of art pieces. Even with a selection of individually valuable artworks it still does not mean that you have a collection on your hands. Art collections are well planned projects established by years of investment and a deep interest in a subject. All the constituting artworks must as a collection express a narrative.
Here are the basic first steps towards creating an invaluable art collection:
1) Select a central theme
Define the common thread that will bring the artworks together and create a holistic whole, i.e. a small segment of a genre, such as 1910’s French Cubism.
Every good collection has a beginning, a middle, and an end. This can be chronologically, dimensionally, or in a way that tells a personal story. The assembly of a collection should come together to speak more about its owner than anything else.
Nothing is random or chaotic, everything is arranged in a way dictated by the owner.
3) Make your collection known
A private collection of art is of great interest to museums and art institutions. By projecting a desirable collection, you will be increasing the worth of your art.
Examples of outstanding art collections:
The Francois Pinault Collection – worth approximately $1.2 Billion. In 2016, the Mayor of Paris created a deal with Pinault to house his immense collection in The Bourse de Commerce – the old corn exchange, with a 50-year lease. The collection is highly desirable due to Pinault’s investment in contemporary art, ranging from Rothko to Hirst.
The David Geffen Collection – this collection is valued at approximately $2.3 Billion, with a heavy lean towards mid-century American artists. He is widely considered to have one of the most impressive collections of this school in the world, so impressive that even when he sold Jackson Pollock’s No.5, 1948 and Willem de Kooning’s Woman III, there was no impact on his overall collection worth.
The Wallace Collection – worth unknown, consists of approximately 5,500 objects. In 1870, Richard Wallace inherited his father’s collection and estates, including Hertford House. Wallace gathered his father’s International collection and renovated the house to accommodate it. Richard Wallace is thought of as one of the greatest collectors of the nineteenth century art and he curated The Wallace Collection as we know it today. The collection has been a national museum since 1900, but its estimated value cannot be accurately known.
Rigby & Rigby take great pride in designing spaces to house our clients’ impressive art collections. It is important to discuss art at the very beginning of a project for our design team to consider lighting and placement of the artworks. We ensure that art is seamlessly integrated into the overall design scheme and work collaboratively with art curators and specialists worldwide to select artwork for clients.
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