Eli Broad Keep 2,000 Art Pieces in His Private Foundation

background: Regia Marinho 36 x 48 in. painting.

An evidence of that shift in power in the art world?
Billionaire Eli Broad, one of the world's top 10 art buyers, said he won't give any of his 2,000 works to museums as he once intended.

“We don’t want it to end up in storage, in either our basement or somebody else’s basement,” Mr. Broad said. “So I, as the collector, am saying, ‘If you’re not willing to commit to show it, why don’t we just make it available to you when you want it, as opposed to giving it to you, and then our being unhappy that it’s only up 10 percent or 20 percent of the time or not being shown at all?’” [New York Times]

What does this mean for artists? Well, essentially it means that the ultimate prize may no longer be getting your work into a museum, but rather into a high-profile collection (i.e., so that it will be exhibited more frequently). [from edwardwinkleman]
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