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New Report Builds a Profile of the Elusive Art Collector
Summary
A new report from the website Larry's List provides insights into the elusive world of contemporary art collectors. The report estimates there are 8,000-10,000 collectors worldwide who buy works from galleries and art fairs, with the majority of these being male and over the age of 59. The report also reveals that the US has 25% of the world's collectors, followed by Germany, Britain, and China with 8%, 7%, and 7% respectively. Additionally, the report mentions the increasing number of private contemporary art museums, and the role of collectors in influencing the direction of museums. The report concludes that the boom in the market for contemporary art is being driven by the spending habits of a relatively small number of people.
Q&As
How many international contemporary art collectors are estimated to be active in the market?
8,000 to 10,000
What is the average age of a collector?
59
What countries are the top collectors of contemporary art?
The United States, Germany, Britain, and China
How many private contemporary art museums exist worldwide?
350 in 46 countries
What is the impact of a collector's purchase on an artist's credibility?
It gives the artist credibility.
AI Comments
👍 This new report is very insightful and provides valuable information about the elusive art collector. It is encouraging to see that the number of private contemporary art museums is increasing and that wealthy individuals are taking a leading role in museum direction.
👎 This report does not provide much information about the Russian or Swiss art collector, and the data is based on publicly available sources. It is also concerning that a small number of individuals have a disproportionate amount of power in the contemporary art market.
AI Discussion
Me: It's about a new report that builds a profile of elusive art collectors. It talks about how there are 8,000 to 10,000 collectors around the world who regularly buy contemporary art from galleries and fairs. It also talks about how these collectors are becoming more influential, how they're opening their own museums and pushing up auction prices.
Friend: Wow, that's really interesting. It sounds like these collectors have a lot of power in the art world.
Me: Absolutely. It's fascinating to see how their buying habits and decisions shape the market. It's also interesting to see that tax breaks and other incentives have encouraged collectors to open their own museums to the public. It's clear that these collectors are having a major impact on the art world.
Action items
- Research the top 10 artists in collections in China to gain a better understanding of the Chinese art market.
- Reach out to collectors in Switzerland to learn more about their collecting habits and preferences.
- Analyze the data from the Larry’s List report to identify trends in the contemporary art market.
Technical terms
- Migratory species
- A species of animal that moves from one place to another at different times of the year.
- High-net-worth individuals
- Individuals who have a minimum of $1 million in cash at their disposal.
- Ultrahigh-net-worth individuals
- Individuals who have a minimum of $30 million in cash at their disposal.
- Connoisseurial
- Relating to the appreciation of fine objects.
- Megadealer
- A large-scale dealer in a particular commodity.
- Tax breaks
- A reduction in taxes that is granted by a government.
- Preferential status
- A special status or privilege given to a particular group or individual.
- Billboard still lifes
- A type of painting that depicts everyday objects arranged in a way that resembles a billboard.
- Landscape pot paintings
- A type of painting that depicts landscapes in a pot-like shape.