Museums can’t compete, but can they collaborate?
The Los Angeles Times notices that it has always been hard for museums to compete with private collectors, but driven by the scarcity of great old works and an expanding class of wealthy buyers, the recent stratospheric rise of art prices has utterly outstripped most acquisitions budgets. Sadly, when museums are connected with top-quality objects in today’s art market, it’s often as sellers, not buyers. They’re increasingly losing out to wealthy private collectors who can afford to acquire expensive works.
The Guardian also signals that public museums are competing with private collectors, but warns the reader that we’re all worse off as a result. Private collectors are of crucial importance if the public museum is not to become moribund. Developing and sustaining links with collectors requires tact, energy and patience, but the rewards have the potential to change the institution beyond recognition.
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