By Charlotte Appleyard, James Salzmann
This new quantity within the sequence of Handbooks in foreign artwork enterprise released in organization with Sotheby's Institute of paintings deals a well timed consultant to company amassing, analyzing the heritage, nature and value of company amassing and the various purposes for beginning and holding company collections, together with funding, cultural cache, and asset diversification. Why do associations make the leap into an asset type that's often very faraway from their center companies? The authors categorise glossy company artwork collections into 4 huge different types. First, there's the conventional company assortment, the place works are bought without delay from galleries or artists to reinforce the workplace environments. a few of the collections that fall into this type - mostly banks or financial-service firms - have a number of the best-quality works of any corporately held assortment. the second one class contains these collections that search to assert anything in regards to the company's company id: those collections became very concerned with how the corporate want to venture itself. The 3rd classification is philanthropic collections: those who constitution their assortment technique round a charitable remit. and at last the all-rounders: these businesses whose paintings with the humanities permeates their identification, workplace setting, social outreach and sponsorship. in response to interviews with the curators, experts and traders who run such collections, and extra prolonged case reviews of significant collections all over the world, the booklet concludes with an exam of whilst company gathering turns into a legal responsibility and the market-impact of deaccessioning, expecting the way forward for company accumulating.
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Extra resources for Corporate Art Collections
Sample text
3 million and set 17 new artist records. Of course, the final story of corporate collecting in the modern age is yet to be written. Just as the 1980s boom in corporate collecting might be seen as a direct reflection of a buoyant stock market, the early years of the twenty-first century may yet end on a down note for this industry. It does not seem likely, however, judging by the views we have seen of corporate collecting when researching this book. It should be noted that reporting on corporate collecting culture in such a climate, when we do not know how long the economic downtown will last or what will happen next, has impacted not only on the access we have been granted during the research of this book but also on the methodologies being employed in the formation and care of the very collections we are investigating.
The third category we will broadly refer to as the ‘philanthropists’ or ‘corporate patrons’. Whilst almost all of the collections we examined extend their interests through sponsorship of the arts, a small but growing number have structured their entire collection strategy around a charitable remit through the creation of prizes or direct engagement with the domestic and international artistic community. Finally we will turn to the ‘all-rounders’, companies whose work with the arts permeates their identity, office environment, social outreach and sponsorship.
The Pritzker Prize-winning architect Lord Foster famously said that putting art in public places was like putting lipstick on a gorilla, but several of the office spaces we examined were designed with an art collection in mind. Of these, perhaps the most successful were the London branch of Standard Bank, Monsoon and Ohio’s Progressive Collection, of which author Toni Morrison writes: ‘I entered a building designed specifically for the embrace of work, people and art. ’ 6 Whilst most companies do not have the luxury that Progressive did, of creating their entire building and office space from scratch, the opportunity for new space often seems to offer a fresh source of inspiration, and many collections seek to enhance their employee experience by hanging provocative works (although not necessarily controversial ones) in the office environment.