Art Market Issues 1 – artmarketblog.com

Hi all,

Today marks the start of a new series of posts that will deal with various issues in the art market, however, instead of writing my own views on the subject I am going to ask readers to post their opinions. All opinions can be written in the comments section below the post. If you don’t want to answer the question but have a relevant opinion please feel free to post that too.

Art Market Issue 1:

Question: Should the National Galleries of Scotland spend 100 million pounds (if they can raise that much) to purchase the Bridgewater collection of old masters which is currently on loan to them but is at risk of being removed by the owner for sale, or would the money be better spent on contemporary art (if so, what)?

For more information on the proposed sale see here:

http://entertainment.timesonline.co.uk/tol/arts_and_entertainment/visual_arts/article4622479.ece

**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications

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2 Responses

  1. Nicholas, Thanks for bringing this issue to our attention. I think as the duke himself said (“The duke would very much want these pictures [the Titians] to continue to be accessible to public view, and to achieve this is prepared to dispose of them at a price below market value and on other terms favourable to the nation. He would also wish for the rest of the coll- ection to remain on public display.” ) that world masterpieces should be on public display as much as possible. They belong to the world the way the great masters belong as treasures to the Japanese people –to be honored. Even if you could buy a million pieces of contemporary art for the price of one Titian, it would not be worth it –there is no comparison. And surely if we have enough money to fight this war in Iraq, we have enough to fund both the Scottish Masters collection and contemporary art. peace, e

  2. Hi Elizabeth, thanks for your opinion. I do agree that the great master works should be on display in a public museum but the reality is that money is a factor in deciding what should be displayed and where. In this case I do think that the money should be spent on the great masters especially since they are being offered to the National Galleries of Scotland at a price way below their market value. If anything, they should buy them as an investment for the future.

    Nick

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