subscribe
back issues
reprints
contact us
Wealth in Perspective
Wealth Management
Thought Leaders
Money and Meaning
Passion Investments
Wealth Management Sourcebook
Multifamily Office 2008
Previous Issues Index
/ Home / Editorial / Passion Investments / Art /
Passion Investments: Art
Native Sons
Elizabeth Harris
11/01/2006

Scholars and Schools
Greater scholarly and institutional interest may lead to continued strong appreciation. Last spring, the National Academy launched two exhibitions featuring Hudson River school artists. The Wadsworth Atheneum mounted an important exhibition of its large collection last summer; "American Splendor" will run through 2006. The New York Historical Society’s "Nature and the American Vision" will remain on view through March 2007.

FIRE ISLAND Beach by Sanford Robinson Gifford went for $2.14 million.

Moreover, new scholarship is lending greater attention to the stylistic differences within the Hudson River School. Cole, who was English and exposed to the horrors of industrialization as a young man, revered the American wilderness in a spiritual way, says Betsy Kornhauser, the Krieble curator of American painting and sculpture at the Wadsworth Atheneum. Artists in the latter half of the Hudson River School, or the second generation, who matured after the midcentury, traveled more extensively and reflected the nation’s tension during the Civil War era through moody and dramatic skies in their art. Gifford served in the Civil War.

Hank Martin reached a personal milestone when he lent to the National Academy the 18 Hudson River School paintings that he and his wife, Sharon, gathered over the years. He was first attracted to the natural beauty of paintings by Gifford, Cole, Durand, Church and Cropsey, whose works normally hang in the couple’s Litchfield County, Conn., home. As his interest and collection grew, Martin decided to contribute to Hudson River scholarship by lending the works. He also has discovered new facts about the artwork. When Martin carefully examined the canvas of a Martin Johnson Heade marsh scene he purchased, he found that Heade had inscribed "Lynn Meadows, Mass." on the back. Martin’s discovery added to his enjoyment of the painting, but also added to Hudson River School scholars’ understanding of Heade’s whereabouts.

VALUE JUDGEMENT
Artists of the Hudson River School represent the United States’ first native style and subject. Men such as Asher B. Durand, Thomas Cole and Frederic Church painted luminous landscapes of not only the great river, but also of vistas across the U.S. and on several continents during the 19th century. Today, interest in their work is booming, fueled by a nativist fervor and a deepening scholarship into their art. 

David Kabiller, a founding principal with the hedge fund AQR Capital Management in Greenwich, Conn., purchased the 10 Hudson River School paintings in his collection over the past few years. While many of his peers are drawn tocontemporary art, he responds to the beauty, light and hopeful vision of America represented in Hudson River School landscapes. "I still do not understand sharks in formaldehyde," he says.

Some collectors focus on art representing specific geographies—Lake George vistas such as those by Kensett, for example. Others may prefer works from a certain period, such as those painted just before and during the Civil War. Collectors can find fine examples of these pieces in the $200,000 to $500,000 range. Shaping a collection around a theme can help create a coherent group of paintings and enhance the value when taken as a whole. This also helps art advisors and dealers scout more selectively on a collector’s behalf.

A strategy may also boost a museum’s interest in a collection, such as the National Academy’s enthusiasm for the Martins’ paintings. The couple focused their efforts on small easel paintings created en plein air. These differ from some of the grand examples painted for exhibitions, such as Cole’s The Course of Empire, a five-piece allegory chronicling the rise and fall of civilization, now in the New York Historical Society’s permanent collection. "I tend to be more attracted to a spontaneous, fresh picture where the artist was painting for himself," Martin says.

Fashion Victims
Interest in these pastoral scenes has waxed and waned over time. From the 1820s through the 1880s, cultural Brahmins celebrated artists such as Cole, Church, Durand and Albert Bierstadt, making them enormously popular within their lifetimes. The painters, in turn, spread their wings, exploring New England, the American West, Europe and South America. Church’s The Heart of the Andes attracted 12,000 spectators during its opening three weeks in 1859. Impressionism brought an end to the Hudson River School’s dominance, as the public welcomed paintings beyond idealistic landscapes.

1 | 2 | 3 | >>
Printer Friendly Version  Email a Friend
 
Get a FREE ISSUE and a FREE GIFT

Simply fill out this form to receive a complimentary issue of Worth and a FREE gift ("The top 25 Questions for Your Private Banker"). If you like the magazine, you’ll pay just $36 for 5 more issues (6 in all). If it’s not for you, you can return your invoice marked "cancel", and owe nothing. The FREE issue and FREE gift are yours to keep.
Name
Address
Canadian orders click here
International orders click here

Unsubscribe from subscription emails click here
 



Family Office Wealth Conference