Garfield Weston Foundation’s Post

The recent surge in discussions about estate planning in the art world underscores its significant financial implications, with millions of pounds worth of art and collectibles held in private collections globally. The need for orderly wealth transfer and a transparent art market emphasises the importance of responsible planning for artists, collectors, and their advisors. Read the full article written by Maria Z. on Preserving the Artistic Legacy: Insights from Picasso and Beyond in Estate Planning - https://lnkd.in/dYBk4cMi #ArtLegacy #EstatePlanning #CulturalHeritage

Democrazing art in a political sense means that more people will be able to see art and to get a little bit more culture. Democrazing art means have art in the streets. Actually everything goes into museums, foundations and private collectors Democrazing art is open-air art. More culture for everyone. Cities will improve in the sense that this déshumanisation of the cities will stop. And could continue adding more reasons why the phrase democrazing art has a reason to exist without being negative My prototypes ready to be develop it in the appropriate place. Need to find people interest en financing the Urban Sculpture Project

📌 WHY DO CELEBRITIES AND INDUSTRY TYCOONS SURROUND THEMSELVES WITH WORKS OF ART?  Here are some reasons that might surprise you! 🌟🎨 - Heritage: Art is an investment that transcends time. Works of art by established artists often increase in value, making them a safe and lasting investment. 💎📈 -Prestige: Owning works of art by famous artists is a sign of refinement and distinction. It is a way to express one's sophisticated taste and erudition. 🏛️🌟 -Passion : Many prominent personalities are true art lovers. Buying works of art is a way to support the artists they admire and to enrich their lives with beauty and inspiration. 🎨❤️ -Giving: Many art collectors donate their valuable collections to museums and galleries, contributing to the preservation of art and its accessibility for all. 🏛️💝 What about you? Do you surround yourself with works of art? 🎨🌈 #Art #Investment #Artmarket 

Here’s a summary of the article “In New Book, Art Economist Contends Gallery World Suffers Scarcity of New Collectors”: Central Idea: The art market, and the galleries that drive it, are facing a significant challenge – a lack of new collectors to support the system. While the number of wealthy individuals has grown, there hasn’t been a corresponding increase in art collectors. Key Points: Financial Strain on Galleries: Many galleries, especially smaller ones, struggle financially with a large number operating unprofitably. These galleries rely heavily on a small pool of dedicated collectors. The Importance of Art Patrons: Art economist Magnus Resch emphasizes the need for new collectors to support the art world’s infrastructure. Buying art can be seen as a philanthropic act that supports artists and galleries. Advice from Art World Figures: The article includes insights from collectors like Pamela Joyner and gallerists like Jeffrey Deitch on how to become a serious collector, emphasizing the value of building networks and relationships. Ethical Collecting: There’s an increasing focus on “responsible buying” where the purchase of art is viewed not only as a potential investment but also a way to support the arts ecosystem. Impact on Emerging Artists: A lack of new collectors strains smaller galleries, which often champion emerging artists. This imbalance can hinder the careers of new artistic talent. Overall: The article highlights the interconnectedness of the art world. Collectors play a crucial role in not just acquiring art but sustaining the system that nurtures and promotes artists. #artmarket #artcollecting #artcollector #artinvestment #artsupport #artexonomics #gallerybusiness #emergingartists #philanthropyandart #responsiblebuying

A recent report by Art Fund finds that #museum directors in the United Kingdom are concerned about funding shortfalls despite a rise in #visitor numbers following the #Covid pandemic. The research also shows that organisations need a 10-20% increase in #funding just to stabilise. Looking forward to next year, Art Fund identified a number of key challenges including: 🔹 The cost-of-living crisis, which is particularly impacting independent museums and others that charge for entry or rely on secondary spend. 🔹Continuing local authority spending cuts leading to the closure of services. 🔹Building maintenance and building operating costs.

What is to be a patron today? The evolution of art patronage reflects significant shifts in societal, cultural, and technological dynamics over time. In the 21st century, art patronage exists within a complex landscape heavily influenced by the commercial market and collectors. Traditional institutions like museums face funding challenges and competition from commercial galleries. The advent of digital technology has revolutionized how art is engaged with and funded, introducing new platforms such as online crowdfunding. Corporate sponsorship has also become a significant force in the art world. Modern art patrons must consider the long-term impact of commissioned artworks and engage with a global audience that is diverse and connected. Furthermore, digitalization has significantly impacted traditional patronage models by increasing accessibility and democratizing art engagement. Digital platforms allow patrons to interact directly with artists, participate in the creative process, and support new art forms like AI-generated art.

Calling on our art & culture guardians... "The risk is that if art continues to be treated as nothing more than an asset for amassing wealth, or the art world as a playground for the rich, we will be sleepwalking into a future where the art itself becomes shallow, the sellers and validators are one and the same and collectors continue ‘flipping’ artworks for a quick profit rather than acting as guardians of culture for future generations. The art world should strive to create an ecosystem in which commerce and giving back coexist and support each other, and where collectors, by default, set aside a percentage of their collecting budgets to give back to institutions, large and small." https://lnkd.in/dqKXvsgh

Art is about connection and dialogue. Collecting art also fosters relationships. It bridges the gap between individuals, communities and cultures. Art galleries, exhibitions and museums are meeting points where people engage in dialogue, share perspectives and celebrate creativity. Through art, we create connections that transcend borders and enrich our collective experience and inspire change. Artists notice something that most of the world doesn't, but it exists. Their works challenge norms, provoke thought, and stimulate conversation. Collectors play a vital role in acquiring and preserving artists' work and promoting their visions. In this way, they contribute to the history of contemporary art and shape the cultural landscape. At its core, art is a timeless tradition—a record of civilization and a beacon that guides us into the future. Art is a celebration that unites time, attitudes, history, people and the world, the essence of which is one, the totality of its parts, creating a new quality. ---------------------- #artcollector #collectart #collection #artinvestment #art

When I started studying investing in art, it was crazy to invest in it. Art is now widely recognized as a financial asset, and collectors regularly seek investment advice. Today's art market offers unique opportunities. Post-COVID adjustments have created balanced, sustainable conditions, making it an ideal time for investment. Key investment avenues include art funds and private collections. Art funds have seen annual returns averaging 8-12% over the past decade, providing a lucrative option for investors. Art fairs like Art Basel, featuring over 285 top galleries, offer promising artworks, while private sales provide exclusive access to fresh-to-market pieces often appreciating by 15-20% annually. 𝗪𝗵𝘆 𝗔𝗰𝘁 𝗡𝗼𝘄? Current market conditions present prime opportunities to acquire high-quality art at realistic prices.

Represent. The advantages of lending artworks to exhibitions. 🖼 Getting to see artworks held in private collections on the occasion of museum exhibitions is always a particular treat for the general public, as those works are normally not widely visible.  Although lending works to exhibitions has its risks - mainly transportation and handling, which is when the majority of damage to artworks occur - it also bears at least three important advantages: - the attestation of the presence of a certain work at a precise time and place consolidates its provenance and exhibition history and often confirms its authenticity - which in turn can increase its value ✅ - the visibility of the artist and artwork confirm their relevance in the larger art historical narrative 📙 - the prestige of being included in a respected exhibition (ideally in a reputable institution), will raise the work’s value 📈 Lastly, the pleasure of contributing to scholarship and of sharing treasured art should not be underestimated. Nevertheless, when negotiating loan agreements, vet the institutions and exhibition the loans are requested for and be mindful of aspects such as insurance policies, logistics, handling and conditions of presentation (including but not limited to modes of display, climate and humidity control, lighting, fire safety, theft prevention etc.). 💡 🔥 💦 ☀ 🔐 Last but not least, keep records and documentation of all loans. 📄 For advice and support, do not hesitate to be in touch. 📲