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What is a Private Art Collection?
A Private Art Collection is a privately owned collection of artworks assembled by a private person (sometimes an institution, although in such case the notion of ‘corporate art collections’ is usually more appropriate). The term ‘Private Collection’ may also indicate that the owner of an artwork is different from the owner of the entire exhibition (example: artworks on loan from individuals or organisations granted to an art gallery or a museum). Private Art Collections may be showcased in private museums which, contrary to the public museums, do not have to follow legal standards for museums present in the given area.
A Brief History of Art Collecting
The history of art collecting dates back as far as to the ancient times when the affluent in the society started gathering valuable artworks (jewellery, paintings, vases and various decors) and displaying them in their residences to impress their guests. Having lost its significance in Middle Ages, Art Collecting flourished in the Renaissance period. Thriving Italian Artists’ works became valuable assets for royal and aristocratic families all over Europe, giving birth to today’s impressive collections available to admire in the biggest museums in the world. Another turn in the history of Art Collecting took place during the Industrial Revolution, when the middle class enjoyed a higher disposable income and American industrialists felt an urge to position themselves as equal to the Old Continent’s elites, using the art collecting as one of the means to do so.
Why do Private Art Collections exist?
Private Art Collections have numerous reasons for existence. There is a significant group of Art Collectors who are sincerely passionate about art and collect it for their own pleasure of owning artworks they like or as a part of their residence’s decoration. Certain Collectors buy art as a safe investment and see it as an invaluable way of allocating their financial assets. Artworks tend to increase in value with time and their worth isn’t as volatile as this of stocks. For others, Art Collecting is a part of their philanthropic activity (read more here). By buying artworks created by less renown artists, collectors feel (and they do!) contribute to the artist’s development. They provide them with both financial and visibility related support.
The World’s Most Valuable Private Art Collections
Private Art Collections highly vary in size and value depending on the Collector’s objectives, preferences and budget. Some of them have mainly sentimental value, whilst others are worth millions of dollars. Several lists and rankings can be found on the web listing the most valuable (in financial terms) collections in the world. Widewalls’ and Highsnobiety’s lists are only a few examples. It is said that only 5 top world art collectors own assets of over 11 dollars billion.
Uart.com for Private Art Collectors
Even though some Private Art Collectors start moving online and sharing their collections (a list of top 5 Internet Presences of Private Art Collections can be found here), the problem of their visibility and availability is present and urgent. Uart.com is a place to be for Private Art Collectors. It gives them multiple opportunities starting from increasing the visibility of the collection and creating a positive image of the personal brand of the collector, to allowing them for fruitful networking. Find out more about how Uart.com works for Private Art Collectors here.