Awesome video outlining the role of the Art patron and the business of funding projects for future profits or humanities. It does a good job at explaining the dynamics of collecting artwork and controlling the market value of the work by privately owning large percentages of the available work.
about out the video:
What motivates patrons to fund artists’ wildest dreams? How has the concept of art patronage changed over time? And what’s behind the dramatic rise of private art museums?
In the third installment of “The Art Market (in Four Parts),” we explore how and why patrons support artists and their careers, from the Medici family’s backing of Michelangelo’s work during the Renaissance to today’s most influential collectors, museum donors, and behind-the-scenes benefactors. Patrons and art-world influencers like Eli Broad, Maja Hoffmann, Josh Baer, and Sarah Thornton provide their insights. Patrons is the third installment of a four-part documentary series, preceded by Auctions and Galleries and followed by Art Fairs, released weekly through mid-June. Together, the four segments tell a comprehensive story about the art market’s history and cultural influence.
This series is directed by Oscar Boyson and produced in collaboration with UBS.
Artsy is a free online platform designed to connect collectors to art. Artsy’s search engine and database draw connections and map relationships among works of art. Led by Carter Cleveland, computer science graduate from Princeton and Sebastian Cwilich, former executive of Christie’s and Haunch of Venison director, Artsy aims “to make all the world’s art accessible to anyone with an internet connection.”
Artsy is backed by a group of investors, including Eric Schmidt, Wendi Murdoch, Dasha Zhukova, Thrive Capital, Jack Dorsey, Bob Pittman, Rich Barton, Jim Breyer, Keith Rabois, David Tisch, Chris Dixon, Peter Thiel, Charlie Cheever, Dave Morin, and David Kidder. John Elderfield, former chief curator at New York’s Museum of Modern Art serves as Artsy’s senior advisor and Larry Gagosian and Marc Glimcher, president of Pace Gallery, are advisors.