The Many Faces of Contemporary Art Collecting
A 2017 Artribune article explores the diverse landscape of contemporary art collecting, challenging the stereotype of collectors as solely wealthy insiders. It identifies several categories: famous collectors like Jacques-Antoine Granjon, Elton John, and George Michael; anonymous collectors who buy art privately without seeking publicity; and a newer group of financial investors using art funds. The article notes that Italy is the second European country for number of private museums, yet most Italian collectors remain anonymous—entrepreneurs and finance professionals who purchase directly from artists or through trusted galleries. The piece also critiques the art market's lack of entrepreneurial foresight, comparing it to Target's use of consumer data to predict customer needs, and suggests that the art world should invest in identifying future collectors through predictive analysis.
Key facts
- Collectors are not only wealthy insiders; there are many outsiders.
- Famous collectors include Jacques-Antoine Granjon, Elton John, and George Michael.
- Anonymous collectors buy art without seeking publicity.
- Italy is the second European country for number of private museums.
- Italian collectors often buy directly from artists or through trusted galleries.
- Art funds have emerged as a way for financial investors to enter the art market.
- The article criticizes the art market for lacking entrepreneurial strategies to cultivate future collectors.
- Target used consumer data to identify pregnant women for targeted marketing.
Entities
Institutions
- Target
- Artribune
Locations
- Italy
- United States