LTHE NEW GENERATION OF COLLECTORS ACCORDING TO LARRY’S LIST
Larry’s List’s latest report confirms what we had already predicted in a previous article on the new generation of collectors: the Millennials represent the collectors of the future, smart, social and increasingly digital.
New York, London, Seoul, Beijing, Shanghai and Hong Kong are confirmed as the art centers for the new generation of collectors, who prefer painting and sculpture as the preferred media to collect.
Who is the next generation collector?
Most 3.0 collectors are also art professionals, active in its protection, valorization and promotion through curatorship, museum or foundation management, artist residencies or training programs.
New features compared to previous generations are:
- Their activities today are more transparent than before
- They buy more online through digital platforms
- They are more committed to making art accessible through a strong presence on social (Instagram especially) and in the digital world, but also through opening spaces or museums, particularly in Asia.
New artists for new collectors
The report shows that along with the new generation of collectors is emerging a new generation of artists whose work is highly valued and purchased. In fact, a significant number of these collectors are using their power in the art scene to promote emerging local artists and to push for greater inclusion and representation within the industry.
Why do they collect art?
Passion and investment are definitely the motivations that drive the aspiration of the young collector. However, collecting art profoundly affects the social status and lifestyle of the young collector by increasing their social and cultural values.
Who are the selected collectors on Larry’s List?
In its list, the magazine examines more than 150 international collectors under the age of 40 by exploring their personalities and interests. While some of these young collectors continue a generational collecting tradition, many have taken up the practice with no family history.
Some of the biggest names include Karen Levy (DSL Collection), Rasika Kajaria (Tribal Foundation), Sarah Arison (Arison Arts Foundation), Jongsuwat Aungsuvarnsiri (S.A.C. Subhashok The Arts Centre), Lu Xun (Sifang Art Museum), Nadia Samdani (Samdani Art Foundation), David Chau (Ce Foundation).
The report also features a large number of Italians such as Matteo Novarese (Sof:Art), Edoardo Monti (Palazzo Monti), Bruno Bolfo (ICA Milan), Eugenio Re Rebaudengo (Fondazione Sandretto Re Rebaudengo), Sveva D’Antonio and Francesco Taurisano (Collezione Taurisano) and Lorenzo Perini Natali.
What about you, do you want to be a collector?
Photo Credits: Melissa Neumann Home by Scott Frances