Art Market Monitor

Global Coverage ~ Unique Analysis

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

Art Commissioning Investment Fund Claims Victory

November 29, 2010 by Marion Maneker

All Visual Arts, the unique art fund that commissions multiple works and sells a few to establish the value while keeping some to reap the benefits is making a case for itself in this Observer piece which cites an artist whose career was transformed:

Jonathan Wateridge, who paints realistic genre subjects on a large scale, is among six artists – all British – now working with AVA, funded with £5m. He told the Observer: “I’m 38 and [I’ve been in] in poverty for most of my career. Making a living as an artist is difficult and insecure. To have someone willing to give you moral support and back it up financially is fantastic.” He added: “This level of trust seems pretty rare. Most collectors are interested in specific work, but only that work, not an ongoing thing. The notion of patronage doesn’t exist in contemporary collectors.”

While that is not strictly true of every artist – Francis Bacon, for instance, received support from his gallery, the Marlborough – it is the situation faced by most rising figures like Wateridge. But since the beginning of their collaboration, AVA has sold seven Wateridge paintings to François Pinault, a major collector who owns Christie’s. Two of his paintings, each with price tags of £150,000 – 10 times their price before the company’s involvement – are hanging in AVA’s cavernous new exhibition space, a former bus depot, which opened last week in King’s Cross, London.

Hedge fund billionaire helps bring back grand old days of art patronage (Observer)

More from Art Market Monitor

  • How Will Museums Be Able to Collect?How Will Museums Be Able to Collect?
  • Zwirner @ ArtBasel MiamiZwirner @ ArtBasel Miami
  • The Naked Is Not DeadThe Naked Is Not Dead
  • Chinese Art Confronts CapitalismChinese Art Confronts Capitalism
  • A Clutch of Long-Time Christie’s Staffers LeaveA Clutch of Long-Time Christie’s Staffers Leave
  • Christie's London PWC Day Sale = £13.2mChristie's London PWC Day Sale = £13.2m

Filed Under: Art Funds

About Marion Maneker

LiveArt

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

  • 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