Georgina Adam

This book scrutinizes the excesses and extravagances that the 21st-century explosion of the contemporary art market brought in its wake. The buying of art as an investment, temptations to forgery and fraud, tax evasion, money laundering and pressure to produce more and more art all form part of this story, as do the upheavals in auction houses and the impact of the enhanced use of financial instruments on art transactions. Drawing on a series of tenaciously wrought interviews with artists, collectors, lawyers, bankers and convicted artist forgers, the author charts the voracious commodification of artists and art objects, and art's position in the clandestine puzzle of the highest echelons of global capital. Adam's revelations appear even more timely in the wake of the Panama Papers revelations, for example incorporating examples of the way tax havens have been used to stash art transactions - and ownership - away from public scrutiny. With the same captivating style of her bestselling Big Bucks: The Explosion of the Art Market in the 21st Century, Georgina Adam casts her judicious glance over a section of the art market whose controversies and intrigues will be of eye-opening interest to both art-world players and observers.

The Excesses of the Art Market in the 21st Century

Dark Side of the Boom

The private collector's museum has become a phenomenon of the 21st century. There are some 400 of them around the world, and an astonishing 70% of those devoted to contemporary art were founded in the past 20 years. Although private museums have been accused of being tax-evading vanity projects or 'tombs for trophies', the picture is far more complex and nuanced, as art-market journalist Georgina Adam (author of best-selling Big Bucks and Dark Side of the Boom) shows in her compelling new book.0Georgina Adam's investigation into this extraordinary proliferation, based on her recent visits to over 50 private spaces across the US, Europe, China and elsewhere, delves into the reasons behind this boom, the different motivations of collectors to display their art in public, and the various ways in which the institutions are financed. Private museums can add greatly to the cultural life of a community, giving a platform to emerging artists, supplying educational programmes and revitalising declining or neglected regions. But their relationship with public institutions can also be problematic. Should private museums step in to fill a gap left by declining public investment in culture, and what are the implications for society and the arts? At a time of crisis in the museums sector, this book is an essential and thought-provoking read.

The Rise and Rise of the Private Art Museum

Quello del museo privato è un fenomeno culturale, sociale ed economico che nel XXI secolo si è imposto su scala globale. Negli ultimi vent’anni si è costituito un fitto Paesaggio di istituzioni di successo dedicate all’arte contemporanea messe in piedi da collezionisti o persino aziende, basti pensare ai musei di François Pinault o alle fondazioni legate ai marchi di moda più prestigiosi. Intimamente legati al gusto e alla visione del proprio fondatore, i musei privati sono spesso bollati come “sepolcri per trofei” o come espedienti per sottrarsi al fisco, ma il quadro è ben più articolato e complesso di come appare. Questa indagine – che ha portato Georgina Adam a esplorare oltre cinquanta realtà museali private negli Stati Uniti, in Europa, in Cina e non solo – intreccia i dati e le dichiarazioni dei diretti interessati per ricostruire le ragioni dietro a questo boom e le sue implicazioni. Perché i collezionisti scelgono di avere spazi propri invece di donare opere alle istituzioni locali? Come li finanziano? Sono solo sfoggi di vanità o progetti genuinamente filantropici? Con grande sagacia l’autrice si muove sul filo di una corda tesa tra ambizioni personali e utilità pubblica, tratteggiando personaggi e scenari tanto controversi quanto intriganti.

Georgina Adam

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