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| Shared Passions |
Aesthetic Aspirations
Josh Baer
08/02/2004
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Collecting art has never been more enjoyable–or more competitive. The volumes,
prices and publicity in the fine art market have burgeoned in the past decade,
attracting crowds of educated, well-informed aficionados. Meanwhile, a new
seriousness about the investment aspects of collecting has partially supplanted
the formerly more genteel approach, particularly among those interested in
contemporary art. Perhaps this is due to the sums involved: Ten years ago, a
celebrated midcareer artist might have commanded $25,000 to $50,000 for a piece.
Today, similar works sell for up to $1 million.
 While collectors in past ages
typically kept their portfolios out of the public eye, often only allowing
carefully chosen guests to view their treasures, savvy enthusiasts today tend to
publicize their acumen by creating private museums, well-documented catalogs or
professionally managed collections. Some manage their holdings like stock
portfolios, striving to upgrade the quality at every opportunity—even if
they prefer to think of these activities as pursuing refinement rather than
chasing investment returns. In any case, putting our collections on pedestals
for all to view not only serves the public good, but may significantly increase
interest in the artists we support, and thereby boost their works’ investment
value.
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