In many neighborhoods and cities art galleries proudly line the streets, allowing one to purchase art pieces either for investments or because the work simply moves them. Many well-known and affluent individuals have a passion for art collecting however it is also a wonderful way to increase wealth.
One famous art collector is Steve Wynn, the Chairman and CEO of Wynn Resorts. In the 1990’s while transforming the Las Vegas Strip with his unique and elegant hotels such as one that nightly provides a volcano at his Mirage Hotel Wynn was beginning his remarkable art collection. Some of his collection includes Rembrandt’s Portrait of a Man, with its intricate texture and light qualities and another by this Dutch painter titled Portrait of a Man with Arms Akimbo, created in 1658. Wynn also owns the 1890 Vincent van Gogh creation Peasant Woman Against a Background of Wheat (Van Gogh created a few versions of this) and a piece that features a prima ballerina posing on a stage titled Dancer Taking a Bow by Edgar Degas.
Finding success in the music business, David Geffen was responsible for Asylum and DGC Records, later co-creating the animation empire of Dream Works in 1994. Geffen also collects American artwork stemming from the post-war era which includes several works by abstract expressionist Willem de Kooning such as his Police Gazette and Woman III and creations by American painter Jackson Pollocks such as his innovative No. 5.
An art collector to arrive from the hedge fund industry is Adam Sender who has combined a huge collection of art by many new artists. This art collector once was a thriving hedge fund manager for SAC Capital, later he established his own company called Exis Capital Management Inc., but he also has a passion to pursue contemporary art. Like his smart moves in the investment world, Sender has a natural ability to select great pieces that are personal and rich.
Sender actually put about 70 of his pieces on display in 2011 and he titled the event “Home Alone.” Sender’s large and luxurious home in Miami housed this event. A few years later, he decided to sell some of these works at Sothebys in New York, creations by about 139 various artists such as Cindy Sherman who is appreciated for her conceptual portraits, Dan Flavin and Richard Prince. Check out this article by ArtNews on Adam Sender.
The reasons why any individual collects art are various. Of course owning works by a famous artist is profitable and makes a great investment. It also offers wonderful feelings that one cannot obtain by anything else, the emotional satisfaction that is gained simply by looking at a particular piece in your office or home. You receive continual pleasure!