Why do we collect?
As collectors, we amass a trove of possessions throughout our lives, each serving as a tangible fragment of our identity. The bond we forge with these belongings can be profound, and as if such belongings had spirits, is akin to severing a piece of ourselves when we part with them. This sentiment is starkly evident in moments of emotional turmoil, such as divorce, where even the division of material possessions becomes charged with emotion, mirroring the struggle over the custody of children.
The power of ownership is undeniable; its absence can leave us adrift, while acquisition may offer solace to our restless souls. This phenomenon finds resonance in the life of William Randolph Hearst, whose mother observed his penchant for seeking comfort in shopping during times of distress, ultimately leading him to become an avid art collector.
What drives individuals to collect art?
Unlike music or installations defying physical accumulation, art that adorns walls presents a different allure. While the definition of art remains subjective, there exists a discernible distinction between works crafted by esteemed artists and those created by children or even primates. Factors such as structure, intention, and aesthetic attitude, as suggested by Project Zero, distinguish artistic expression from mere dabbling. Although advancements in Artificial Intelligence may blur this line soon, for now, the distinction remains clear.
Who collects art?
Many affluent art collectors prefer to operate discreetly, avoiding the limelight. This inclination limits their visibility in platforms like Larry’s List. Nonetheless, wealth undoubtedly plays a significant role due to the high costs associated with art acquisition; to the extent that GDP per capita explains the number of private art collections per country. However, wealth is not the sole determining factor.
The focus of collections
Personal taste and cultural affinity also shape collection preferences. Surprisingly, geographical proximity often dictates the focus of collections, with a notable bias towards artists from the same region. Except in Europe, this parochial tendency reflects both a sense of familiarity and the practical challenges of transporting artworks across borders, which limit the diversity of collections.
Which artists get collected?
Unsurprisingly, figures like Andy Warhol, Pablo Picasso, and Damien Hirst feature prominently. Their works hold a coveted place in numerous collections worldwide, with Warhol's influence particularly pronounced. Figures 1 and 2 provide visual representations of these artists' most renowned works and their prevalence across collections worldwide.
Interestingly, artists like Richard Prince, are at the lower end of the list of the ten most collected, among those who tend to appropriate and remix other’s work. For instance, Richard Prince’s Untitled (Cowboy), 1989, is a photographic reproduction of Sam Abel’s photograph for a cigarette advertisement. Prince's message, as per his picture, is a manipulated copy (a photograph) of a copy (an ad) of a myth (the cowboy). This style brings us closer to what we may soon see done through Artificial Intelligence.
Though Prince’s Untitled (Cowboy) may sound like a playful innovation, Marcel Duchamp’s Fountain (1917) had done it earlier, see Figure 3, where, whatever double meaning, was more cerebral in Duchamp’s Fountain. His Fountain which was not a decorative reservoir used for discharging water, but a urinal, signed and dated in black on the left-hand side of the outer rim as “R. Mutt 1917'. Mutt alluded to incompetence, as that of the academic establishment, the enigmatic 'R' could be seen as a nod to Richard, a French colloquialism synonymous with 'moneybags': Duchamp's masterpiece served as a scathing critique aimed at the avaricious, speculative collectors and self-important museum directors of its era.
If you wish to read further on issues raised above:
Duron, Maximiliano. (2023). What Defines an Art Collector in 2023?: The ARTnews Top 200 Collectors Respond. https://www.artnews.com/list/art-news/news/artnews-top-200-respond-what-defines-art-collector-1234682814/anita-blanchard-and-martin-nesbitt-2/
Frank, Stephanie. (2016). The “force in the thing”: Mauss’ nonauthoritarian sociality in The Gift HAU: Journal of Ethnographic Theory 20166:2,255-277
Larry’s List. https://www.larryslist.com/
Project Zero. https://pz.harvard.edu/
Reyburn, Scott. (2015). New Report Builds a Profile of the Elusive Art Collector. The New York Times, January 16. https://www.nytimes.com/2015/01/19/arts/international/new-report-builds-a-profile-of-the-elusive-art-collector.html?utm_source=pocket_saves
Steiner, Lasse, Frey, Bruno S., Resch, Magnus, (2014). Who Collects Art? An International Empirical Assessment. http://hdl.handle.net/10419/214549
Walsh, Coleen, (2019). The aesthetic attitude to art. The Harvard Gazette, https://news.harvard.edu/gazette/story/2019/04/harvard-researcher-on-psychology-of-art/