Art Investment

A brief history of collecting. The twentieth century: the great migration of collectors

At the end of the historical material under heading "Tips for beginning collectors" — on how new-Йорк ousted Paris from the pedestal art-рынка and approved collecting in its present form

the Second part of the story about the history of collecting (see AI: part 1 and part 2), we ended up on the threshold of the twentieth century. What Luggage stepped art market in the new century? Paris remained the center of dealer sales in London Sotheby's and Christie's sold art, books and furniture in equal proportion, while China and Japan were sent to Europe first scouts-торговцев to learn from these schools and trends of Western painting. At the same time on the American continent as a result of the technological revolution is rapidly growing new class of wealthy people. The lack of pages of his own history as an independent state business-элита the United States undertook to compensate through art.

In the first decade of the twentieth century from Europe to America, rushed a stream of paintings — in the first place the demand for old masters. Decorating the walls of newly constructed houses works by Titian and Caravaggio, the Americans felt older as a nation. Thus, the United States was formed the first substantial collection in private hands: the financier Morgan (later became the basis for the Metropolitan-музея), aluminum magnate Mellon (joined the collection of the National gallery in Washington), iron founder of the Frick (the Frick Collection in new-Йорке), the owner of a pharmaceutical company Barnes (Barnes Foundation in Philadelphia). Tellingly, the meeting or transferred to the museums during the life of the owners, or became private foundations with public access, according to the will. In short, none of the assets are not sold.

However, there were two American families, whose approach to collecting differed significantly. Realizing that the proposals from Europe on the part of the masterpieces are not infinite, they have relied on contemporary artists — and invested in their education and promotion. We are talking about the Rockefellers and Guggenheimo. In 1929, Rockefeller founded the Museum of modern art, known today as MoMA. Initially, the reaction of the audience, the Museum has checked in imported exhibitions of European modernists, and then began to buy the best works in his collection. For search and selection of new names were introduced by the curator, who now expanded the powers of the curator to the culture - — determinant of tastes and trends. Guggenheim was not behind the Rockefellers: until 1937 their collection of European avant-garde was exhibited in the Plaza hotel, and then was founded the eponymous Foundation and began the construction of the Museum.

the Second world war finally moved the centre of gravity of the art market from Europe to the United States. Fleeing the Nazis, to the American continent emigrated tens of thousands of art-дилеров, collectors and artists. Most of the art assets — about 250 thousand works — was requisitioned by the Germans in Europe, but many were lucky to save their own collections, bringing them to the United States. The Solomon R. Guggenheim Museum opened for fleeing artists like art-резиденции, there lived and worked, Willem de Kooning, Fernand léger, Max Ernst and Piet Mondrian. Closer to the end of the war to joint projects with the masters began to allow local young people: Jackson Pollock and CliffordStilla. In short, by the early 1950-х years in the hands of the two wealthiest families were concentrated pool of unique artists and actual monopoly on the new course — abstract expressionism. And with this capital it was necessary that-то to do.

After the war, the U.S. increased the number of millionaires grew an interest in art (as often happens with the victorious countries, especially if their main site, as in the US, was not affected by war). Abstract expressionism became the basis for the Assembly of a new class of contemporary art collectors, in museums actively helped the cooperation with private dealers — say, Leo Castelli, also emigrated to new-Йорк from Paris (later Castelli trust to oversee the sale of pop-арта — Robert Rauschenberg, Jasper Johns and Andy Warhol. And by 1980-м years of seller's books and he will bring up Larry Gagosian, handing him the powers of the "art-дилера No. 1" and its customer base). Parallel to the flourishing of the stock market and the "Golden age" of Hollywood distributed educated wealthy people between the two coasts of the country — following the centers of capital and business in new-Йорке and California opened and a large gallery. In 1955 their first American auction was held at Sotheby's, bringing to the continent, several novelties: pre-auction exhibition and catalog. In short, the art lovers in the USA have surrounded with attention so tightly that the output they have remained the same: to become collectors.

It was 1950-е years, by analogy with Hollywood, called "the Golden age of collecting." The efforts of the art market was formed the approach to the purchase, sale and service of art objects: there were private curators and managers of collections, developing publications on the art and Institute of art-критиков, the gallery became a place open for new business contacts to a select few customers, and new-Йорк became a full known as a world center for art-рынка. It seemed that the American collectors has everything that contemporary artists in their collections were considered great during his lifetime, and the collections — best in the world. However, they soon realized that for complete happiness they do not have the international recognition. And then the market decided to make a bet at the Venice Biennale.

the Venice Biennale at the time was considered a retrospective exhibition that reflected the latest trends in modern art after two years of selection by a special Commission. For the benefit of the art market, this approach had to change. In 1951 to Venice moved to the Peggy Guggenheim — art-дилер and a follower of the great family Guggenheimo. The results of the interaction of Peggy and the Biennale say the facts: Robert Rauschenberg won the title of best artist, U.S. pavilion became the most celebrated critics, pop-арт established in the status of the leading trends in art, the notion of "curator of the main project" (the first of such curators paid... the Solomon R. Guggenheim Foundation) and the Venice Biennale, a retrospective exhibition is the legislator of the new currents in contemporary art for the next two years. So, as a result of marketing efforts in Europe overseas increased in value American collections.

By the end of 1960-х years art-рынок saw that the interest incontemporary art is present in continental Europe — in the first place, in Switzerland, preserved during the war, neutrality, equity and private collections. The Venice Biennale has closed the sales office, switch to a non-commercial exhibition — and in return to a European collector in the same year was offered the Art Basel fair. Miraculously, not saying a word, both structures with a difference in a month began to show a very similar set of artists: Biennale — with the aesthetic goal, fair — with option to purchase. Since then, among collectors of art there is a saying: "I Saw in Venice — bought in Basel."

the Next stage in the development of collecting accounts for 1980. It began with the eccentric purchases by the Japanese collectors of Western art at record prices, some researchers believe the result of the rising price of oil, other — desire to promote the American market Japanese brands electronics and cars, showing that the Country of the rising sun have money. 1984 made significant changes in the principles and collectibles among Americans: changes in the tax code allow the United States to write off up to 38 % of annual income to costs in case of donation of the public art Museum (or other act of philanthropy in the cultural sector). The creation of collections for many Americans has become part of business-плана: works purchased were valued at acquisition cost, and after a few years of capitalization — revalued and then were given (at a higher cost). Finally released to the public market in 1989, Sotheby's has allowed many collectors along with art pieces to purchase shares of most auction sites.

Since the late 1980-х the art market began to resemble a typical ecosystem: the same key players and sales channels, the distinction between the public and private markets, opening up new regions of export art and of the branches selling it. However, changed themselves collectors to replace the "Golden generation" that formed the Assembly in 1950-60-х years, in recent years, comes a new wave. Young, confident, with own taste and decisions, buying art via Instagram and reconcile the indexes of sales database at Artnet, who prefer the functionality of the emotional side of acquisitions. In fact, for this generation, this material was created: it was for him to decide what will be collecting in the twenty-first century. But in order to confidently build the future, — must start with knowledge of its history.

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