Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

How the Louvre Survives

June 13, 2009 by Marion Maneker

Souren Melikian continues his detailed exploration of the Louvre’s finances and the measures it is taking to survive and thrive in the new world economy:

In January and February, museum attendance sagged by 11 percent. Later, the number of visitors rose by 1 percent in April, and by 2 percent in May over the corresponding months of 2008 — a record year. If this goes on, 2009 might turn out to be quite good. But a more worrying uncertainty hangs over future donations and maecenas operations (art acquisitions made by corporations, which knock off 90 percent of the expenditure from their yearly taxation). Yet, even that is a comparatively small problem, for art acquisitions represent a mere fraction of the Louvre outlay.

Greater difficulties loom. Since 2001, the museum has achieved a measure of financial independence. In 2008, only 47 percent of its expenditure was covered by government grants. The balance came from the museum’s income generated by ticketing, partnerships with foreign museums, space rentals for corporate events, and other sources, all of which could be threatened by deteriorating economic conditions. And any decrease in the government grant would spell out big trouble.

Transforming the Louvre in Uncertain Times (New York Times)

More from Art Market Monitor

  • Georges Mathieu Returns to America After 30 Years at Nahmad ContemporaryGeorges Mathieu Returns to America After 30 Years at Nahmad Contemporary
  • ‘Gram Your Art Collection, Marc Jacobs Edition‘Gram Your Art Collection, Marc Jacobs Edition
  • The Illustration Market Is Red Hot. Wonder Why?The Illustration Market Is Red Hot. Wonder Why?
  • Paris Photo Goes to LA in AprilParis Photo Goes to LA in April
  • Ai SpeaksAi Speaks
  • Deitch in the DetailsDeitch in the Details

Filed Under: Museums

About Marion Maneker

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

Top Posts

  • $10 M. Picasso Portrait Unseen for Decades to Sell at Bonhams
  • Vienna Secession Painting, Long Thought to Be Lost, Sets a Record at Auction
  • Keith Haring’s 1989 Retrospect Comes to Sotheby’s London Prints Sale
  • Restituted Van Gogh Portrait from London Collection to Sell at Christie’s
  • Tony Podesta's Secret Art Buying
  • Collection of Texas Heiress Anne Marion Expected to Fetch $150 M. at Sotheby’s
  • Four of Picasso's Women Valued at $28m Come to Christie's from Rose-Walters Collection
  • Roy Lichtenstein’s Top Ten Auction Prices
  • Norman Rockwell's Not Gay. But Is He a Great Artist?
  • Sotheby's Pulls in a $9m David Hockney for November
  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor