According to Global Corporate Collections a book published last month by Deutsche Standards there are around 600 groups which have collections and many of the big groups are focused on contemporary art. Just to give you a feel for the amount of art they collect UBS has about 35,000 works Deutsche Bank 60,000 works to smaller collections such as Statoil a Norwegian oil and gas producer who has 1,350 works, Shiseido, the Japanese cosmetics company owns 2,500 modern Japanese paintings, sculptures and installations. Why do they buy specifically contemporary art. First financially Contemporary art has increased 600% in the decade to 2014 and businesses try to align themselves with cutting-edge, innovative and creative work it reflects on their business and also art has finally become more apart of our lives. I think the Pop artists made it comfortable for normal people to live with and buy the work of these artists, it was like taking off a billboard and putting it in your house, it was familiar, a Campbell soup can easy…. The good news for artists is that this group buy direct from the artists and hold their work. over a long period of time they rarely sell at Auctions When they do sometimes it is due to mergers or their public image has changed. Sotheby’s sold $75m of corporate art in 2014 (minus buyers premium). Also Banks art related activities have expanded in recent years, international art fairs have increased dramatically and Banks will put on their own shows. UBS has held shows at MOMA in New York, The Tate Modern and Beijing’s National Art Museum of China.In the end corporate collecting remains what it has always been;good for business .As in the Renaissance the big banking families could show their power through their patronage in Art but here’s the real reason I think by supporting the artists of their time in glorifying the Church they thought that would be a plus for them at the Pearly Gates. Just maybe St Peter would not judge them so strongly for what they did in their business when he saw the beautiful paintings of Michelangelo in Heaven….ok ok but Our companies and Banks are not angels and Art gives a cultured veneer to all….#bankbigartbuyers
BEN VAUTIER , DANNY LANE
I think Danny Lane is the most important glass sculpture artist the western world has. Baroque, massively innovative, what he is doing now in 3 dimensional glass designs, is simply groundbreaking also furniture in glass , a lounge chair in strips of glass sensational…and undervalued …He has done wonderful corporate projects. Look on his web site.
Stacking Chair, Danny Lane, 1999, Edition 1986, Glass, steel, H110 x W62 x D59cm
Photographer: Peter Wood
Just bought a Ben and wanting to buy a Danny Lane glass sculpture both major artists and wondering how by not living in their own countries if this affected their true value price potential. not being promoted that much from their own countries., Ben (Vautier) has been living for years in France but is Swiss and Danny Lane is American and has been living in England for a long time. Maybe it hasn’t made a difference..just thinking…so many platforms..so little time…maybe Instagram wins…Collectors use it to sell…and Auction houses..we will see. Enjoy August
NEED TO READ THE LOST PAINTING
The award winning author Jonathan Harr has written a spellbinding journey on the search for the most sought after painting by Caravaggio”The Taking of Christ”. Set in todays insular world of art historians ,art scholars and restoration masters we fall into the chase. A true story. By the end of this entertaining mix of art history and scholarly sleuthing you will have caught “the Caravaggio disease” I promise you and by the way Caravaggio fell out of fashion in the art world for around 300 years and finally around the 1960s prices on the neglected Italian Baroque had come back into fashion.Thats a long time …