Zorloni Art Wealth Management

Managing Private Art Collections
1. Auflage 2016
ISBN: 978-3-319-24241-5
Verlag: Springer Nature Switzerland
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 162 Seiten

Reihe: Management for Professionals

This book offers an overview of how to manage private art collections, providing essential insights on art wealth management, art investment, art governance, and succession planning for art assets. It offers practical recommendations on sound art collection governance, but also examines the background of art markets and price building, including the influence of fashion and trends. Throughout history, art patronage has played an important role in the wealth of ultra-high-net-worth families and led to private museums funded by philanthropist collectors in order to celebrate their own tastes and leave a lasting legacy. Today, as a result of the growth of art investing by a new generation of wealthy collectors, not only artists but also wealthy families, sophisticated investors and their close advisors now face a more complex set of financial and managerial needs. As such, the contributions in this book will be of interest to collecting families, family offices, and professional advisorsseeking to integrate art into their overall wealth management strategy, and to scholars in the fields of cultural economics, art dealers, curators, and art lovers.

Autoren/Hrsg.

Zorloni, Alessia

Inhaltsverzeichnis

1;Foreword;6
2;About the Book: Introduction;10
3;Contents;14
4;Turning Collections into Philanthropic Opportunities;15
4.1;1 Introduction;15
4.2;2 The Global Art Collector Scene;16
4.2.1;2.1 Geographical Allocation and Demographics;17
4.2.2;2.2 Understanding Motivations;18
4.3;3 The Global Rise of Art Philanthropy;20
4.3.1;3.1 United States;22
4.3.2;3.2 Europe;24
4.3.3;3.3 Asia;26
4.3.4;3.4 Korea;28
4.3.5;3.5 South Africa and Middle East;28
4.3.6;3.6 Australia;29
4.4;4 Conclusion;30
4.5;References;31
5;Financial and Estate Planning for Art Assets;33
5.1;1 Introduction;33
5.2;2 Exploring the Motivations Behind Investing in Art;34
5.3;3 Preserving and Protecting a Family Art Collection;37
5.4;4 Use of Art Financing to Unlock Equity in Art;38
5.4.1;4.1 Term Loans;40
5.4.2;4.2 Bridge Loans;40
5.4.3;4.3 Lines of Credit;40
5.5;5 Creating an Art Governance System for a Family Collection;41
5.5.1;5.1 Creation of a Framework for Decision-Making;41
5.5.2;5.2 Identification of the Governance Model;42
5.5.3;5.3 Agreement on Shared Values;43
5.6;6 Art Succession Planning;44
5.6.1;6.1 Selling the Collection;46
5.6.2;6.2 Donations to Charitable Organizations;47
5.6.3;6.3 Creating a Lending Library;47
5.6.4;6.4 Establishing a Private Museum;47
5.6.5;6.5 Gifts to Non-Charitable Beneficiaries;48
5.7;7 Conclusion;48
5.8;References;49
6;Assessing and Improving the Effectiveness of Private Art Museums;51
6.1;1 Introduction;51
6.2;2 Performance Measurement in the Museum Sector;52
6.2.1;2.1 The Use of the Balanced Scorecard in Nonprofit Organizations;55
6.3;3 Empirical Examination;57
6.3.1;3.1 Research Results;58
6.3.1.1;Artistic Quality;58
6.3.1.2;Reputation;59
6.3.1.3;International Engagement;59
6.3.1.4;Sharing Knowledge;60
6.3.1.5;Effective Management;61
6.4;4 Defining a Performance Framework for Museums Based on the Balanced Scorecard;62
6.4.1;4.1 How the Model Could Be Implemented;65
6.4.2;4.2 Application of the Balanced Scorecard to a Private Museum;66
6.4.3;4.3 Implications in Using the Balanced Scorecard;67
6.5;5 Conclusion;68
6.6;Appendix;69
6.6.1;Lars Nittve;69
6.6.2;Elizabeth Ann Macgregor OBE;71
6.6.3;Julia Peyton-Jones;75
6.6.4;James Bradburne;77
6.7;References;79
7;Celebrity Effect in the Contemporary Art Market;81
7.1;1 Introduction;81
7.2;2 How Collectors Influence the Global Art Market;83
7.3;3 Research Methodology;85
7.3.1;3.1 Data Collection;86
7.3.2;3.2 Results;87
7.4;4 Conclusion;91
7.5;References;92
8;Deepening Business Relationships Through Art;94
8.1;1 Introduction;94
8.2;2 Literature Review on Arts-Corporate Collaborations;95
8.3;3 Integrating Art into Branding and Marketing Activities;97
8.4;4 Arts-Fashion Brands Collaborations;99
8.4.1;4.1 Art Intervention;100
8.4.2;4.2 Art Project;100
8.4.3;4.3 Art Programme;101
8.4.4;4.4 Art as a Cause;102
8.4.5;4.5 Art as a Marketing Tool;102
8.5;5 Conclusion;104
8.6;References;105
9;The Art Collector Between Private Passion and Philanthropy;107
9.1;1 Introduction;107
9.2;2 Enea Righi Collection;113
9.3;3 Sigg Collection;115
9.4;4 La Gaia Collection;117
9.5;5 Salsali Private Museum;121
9.6;6 Collezione Maramotti;124
9.7;7 Falckenberg Collection;129
9.8;8 Rubell Family Collection;130
9.9;9 The Aïshti Foundation;132
9.10;10 Daimler Art Collection;135
9.11;11 Fondazione per l´Arte Moderna e Contemporanea-CRT;138
10;Appendix: Private Museums and Their Founders;142
10.1;Saatchi Gallery;142
10.2;Charles Saatchi;142
10.3;Lyon Housemuseum;143
10.4;Corbett Lyon;144
10.5;de la Cruz Collection;144
10.6;Rosa and Carlos de la Cruz;145
10.7;Glenstone Museum;145
10.8;Mitchell Rales;146
10.9;Fondation Louis Vuitton;146
10.10;Bernard Arnault;147
10.11;Garage Museum of Contemporary Art;147
10.12;Roman Abramovich and Dasha Zhukova;148
10.13;Fondazione Prada;148
10.14;Miuccia Prada and Patrizio Bertelli;149
10.15;Rachofsky House;149
10.16;Cindy and Howard Rachofsky;150
10.17;Boros Collection;150
10.18;Christian and Karen Boros;151
10.19;Berardo Collection Museum;151
10.20;José Berardo;152
10.21;Sammlung Goetz;152
10.22;Ingvild Goetz;153
10.23;Punta della Dogana;153
10.24;François Pinault;154
10.25;Crystal Bridges Museum;154
10.26;Alice Walton;155
10.27;Rennie Collection;155
10.28;Bob Rennie;155
10.29;Zabludowicz Collection;156
10.30;Anita and Poju Zabludowicz;156
10.31;Yuz Museum;157
10.32;Budi Tek;157
10.33;Long Museum;158
10.34;Liu Yiqian and Wang Wei;158
10.35;Goss-Michael Foundation;159
10.36;George Michael and Kenny Goss;159
10.37;Sifang Art Museum;160
10.38;Lu Jun and Lu Xun;160
10.39;Hall Art Foundation;161
10.40;Andrew and Christine Hall;161
10.41;Kunsthalle Weishaupt;162
10.42;Siegfried Weishaupt;162
10.43;Museum of Old and New Art;162
10.44;David Walsh;163
10.45;The Broad;163
10.46;Eli and Edythe Broad;164
10.47;Museum Frieder Burda;164
10.48;Frieder Burda;165
10.49;DESTE Foundation;165
10.50;Dakis Joannou;166
10.51;Colección Patricia Phelps de Cineros;166
10.52;Patricia Phelps de Cisneros;167
10.53;White Rabbit Gallery;167
10.54;Kerr and Judith Neilson;168
10.55;NEON Foundation;168
10.56;Dimitris Daskalopoulos;169
10.57;Margulies Collection;169
10.58;Martin Margulies;170
10.59;Museo Jumex;170
10.60;Eugenio López Alonso;171
11;List of Contributors;172