https://aeon.co/essays/what-drives-art-c...heir-finds
EXCERPT: [...] Debates about why people collect art date back at least to the first century CE. The Roman rhetorician Quintilian claimed that those who professed to admire what he considered to be the primitive works of the painter Polygnotus were motivated by ‘an ostentatious desire to seem persons of superior taste’. Quintilian’s view still finds many supporters.
Another popular explanation for collecting – financial gain – cannot explain why collectors go to such lengths. Of course, many people buy art for financial reasons. You can resell works, sometimes reaping enormous profit. You can get large tax deductions for donating art to museums – so large that the federal government has seized thousands of looted antiquities that were smuggled into the United States just so that they could be donated with inflated valuations to knock money off the donors’ tax bills. Meanwhile, some collectors have figured out how to keep their artworks close at hand while still getting a tax deduction by donating them to private museums that they’ve set up on their own properties. More nefariously, some ‘collectors’ buy art as a form of money laundering, since it is far easier to move art than cash between countries without scrutiny.
But most collectors have little regard for profit. For them, art is important for other reasons....
EXCERPT: [...] Debates about why people collect art date back at least to the first century CE. The Roman rhetorician Quintilian claimed that those who professed to admire what he considered to be the primitive works of the painter Polygnotus were motivated by ‘an ostentatious desire to seem persons of superior taste’. Quintilian’s view still finds many supporters.
Another popular explanation for collecting – financial gain – cannot explain why collectors go to such lengths. Of course, many people buy art for financial reasons. You can resell works, sometimes reaping enormous profit. You can get large tax deductions for donating art to museums – so large that the federal government has seized thousands of looted antiquities that were smuggled into the United States just so that they could be donated with inflated valuations to knock money off the donors’ tax bills. Meanwhile, some collectors have figured out how to keep their artworks close at hand while still getting a tax deduction by donating them to private museums that they’ve set up on their own properties. More nefariously, some ‘collectors’ buy art as a form of money laundering, since it is far easier to move art than cash between countries without scrutiny.
But most collectors have little regard for profit. For them, art is important for other reasons....