There is a lot of talk online about art collecting as a financial strategy. Just follow me here for a minute. Or two.
Do you remember that artist who duct taped a banana to a wall?
Yeah, you do.
What about the art auction where the artist waited till the gavel fell before shredding the utter daylights out of the artwork?
You might even have seen that last one on the news. Probably because the artwork had just sold for $1.4 million when the shreddy deed went down.
The banana ('Comedian') went for $120,000 and was later anonymously donated to the Guggenheim’s collection where, one assumes, someone fetched the fruit from their lunch pail, asked facilities for a length of our lord and adhesive savior, duct tape, and put it all together on a wall with their full chest.
Likewise, no one knew that when street artist Banksy's art showed up at Sotheby's, its frame had a hidden shredder inside, which -- oh boy, let me tell you -- led to some amazing reactions from generally unshakable collectors, as well as some top-notch media headlines like this gem: Watch This $1.4 Million Banksy Painting Shred Itself as Soon as It’s Sold (Smithsonian Magazine) -- that's a mic drop in print.
In fact, one of the latest news items I've had on either of these pieces was about Maurizio Cattelan’s 'Comedian', a headline that read:
Performance artist eats banana duct-taped to wall that sold for $120,000
(Natacha Larnaud, CBS News).
As for the 'Comedian', that wasn't even the last time. This artwork keeps on giving.
I know that these artworks are rather controversial.
Some of you may be rolling your eyes at the fact there were instructions for 'Comedian' that described how and how often to swap out both the banana and the duct tape. Certain among you may be shaking out some Anacin over the fact that the Banksy 'Girl with Balloon' resold at Sotheby's for $25.4 million in 2021, shredded. Yes. Sometimes, when I read articles like these, I feel the urge to hyperventilate into a brown paper bag a little bit.
But here's the thing we should be asking about this.
Why did any of this work?
Because Art is More Than Investment
Even though you might not know Banksy or the name of the banana on the wall piece, they make it clear art is a lot more than a figure on a spreadsheet.
Some of what you read above is undeniably about status. However, Banksy or Brückner -- whatever the artist -- there's the piece, and the experience of the piece. The art, and the public's encounters with it.
Both of these are part of the artwork, and both can contribute to an artwork's valuation. However, the monetary value of 'Comedian' doesn't really have anything to do with its material reality, people's experience of the art.
That may be why folks keep eating the banana. That's one way of collecting, I guess.
Art is an adventure that never seems to end. It is not merely for one’s own enjoyment but something to share with the wider world.
David Rockefeller
Part of the goal at Studio Eclipse is that we don’t simply curate works to buy and sell, all of which have investment value, but that with each piece we set out to curate something of meaning, expression, and legacy. Something viewers can connect with.
The collection of art is a way of connecting -- with a moment, for example. This is also part of why the events around 'Girl with Balloon' and 'Comedian' are so precious. It's not as much about buying into the next trend as it is deepening your connection with ideas, values, and stories that matter to you. They may be stories that entertain you, or stories that move you deep inside.
Deciding that is up to you and your past. Your heart.
But... I would venture that connection defines some of Banksy's street art, in truth. Maybe that is the seat of its true value.
Let’s unpack this a little.
The Value of Art in Your Life
Some people like to say that art makes a house a home, a good sentiment, indeed, but I think it's a smidge off the mark. Art turns walls into conversation partners. It fills a room with stories—stories that matter because they resonate with who you are or who you want to be.
When people collect art, they usually aren't doing it simply to add colour to a blank space, though the quest to make spaces extraordinary to live in is just as laudable. Collectors often buy a narrative, which is -- trust me, a writer can tell you this without reservation -- a piece of someone’s soul that says, 'This is important.'
Once you choose to hang a specific piece on your wall, or you collect an artist, you connect. You become part of that story. In a technical sense this is known by the fancy art term 'provenance' -- where the collector and the artwork merge together into a single storied history. That is artistic legacy.
But in the sense of meaning and expression, the art you hang is talking to you about what you believe in, or what you love. And every time you glance at it, you’re reminded of that connection, that shift in perspective. Over time, that story, and a bit of the artist's story too, becomes a part of who you are.
That’s not something you can balance in a cheque book, but it turns out most things of value in a lifetime can't be measured in dollars and cents.
The art you love, that impacts your life, is one of those things.
Collectors can Spot the True Value of Art... and Artists
While sitting at a coffee shop, across from a collector perusing my artworks, I watched her pause on an abstract of mine till she looked up at me and said, "I see things in here. That's a deer. See? That's what I do."
Being an artist means glimpsing your work's true value reflected in the eyes of others. Often, and especially when I paint abstracts, people stand and stare at them and tell me what they're about. I'm in rapt fascination when this happens. Because it's a revelation.
A collector's connection with a piece is one of those priceless things. Many artists believe that collectors connect to pieces because they are meant to. And, yes, I believe a piece can be meant for you. I've run into that before. Art sitting on a wall, singing your song. And that's a welcome change in an artist's life.
Every emerging artist, every established name started somewhere—usually in the quiet corners of a studio, alone. It was the same way for Georgia O'Keeffe, born in a small Wisconsin town and raised on a farm, as it was for Van Gogh.
For every O'Keeffe there is a Stieglitz, a first collector who supports their vision and changes their life. In Georgia's case, photographer Alfred Stieglitz was so impressed by her work he exhibited it in his own prominent gallery without her knowledge. A bit suss, but this began her march toward wider public recognition, and the title 'the Mother of American Modernism'.
The key to an artist's transformation isn't just their experience and skill. It's also the enthusiasm of their collectors.
Begin Your Legacy
When you choose to bring a work of art into your life, you give it additional meaning. You give it a voice. (And you also give it its baby steps in provenance.) By doing so, you also give yourself a gift -- an ongoing conversation with an artist, a time, and an idea captured in oil or watercolour.
Our awareness of this is why we at Studio Eclipse know art is more than a banana on a wall, more than a cool commodity. It’s got a kaleidoscope of meanings, some of which we learn from the people collecting it. Art is a shared experiment, and it has a story designed to step off of our path and onto yours. Not a lot of purchases do that -- so, yes, I see the investment angle and take no umbrage with it -- but the enduring value of art is told in a chain of human stories. The artist's tale comes first, but then tag -- you're it.
We believe the wise invest in knowing themselves and building spaces that tell their stories to the people in their lives. Art makes a statement in more than the media. It talks to people about their souls. That's why it makes such an impact in people's lives -- why they need it.
There's no investment quite like that.
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