Investigating preferences in art collecting: the case of the François Pinault Collection

This article focuses on private art collections that play a relevant role on the art market while reducing its information asymmetry. Knowledge of how art consumers such as private art collectors show preferences for specific artworks may allow to identify collecting patterns based on the preference of some artworks’ signs. Understanding these patterns is essential for evaluating the impact of art collectors on the art market. The evolution of the art market shows complex consumption systems that shape the cognition and behavior of actors such as private art collectors. Consequently, to be a key art collector and to progress as such in today’s art world implies a constant reinterpretation about what it means to consume and to collect art. This paper explores the collection of one of the most important art collectors in the world, the French tycoon François Pinault. More precisely, his background as a key collector was examined, and a number of preferences toward particular signs which connote his collected artworks were identified. All the collected artworks were observed through a descriptive data analysis of the Pinault Collection’s exhibition catalogues, published from 2006 to 2015, enforced by the statistical decision tree classifier. Results show how the Pinault Collection is shaped by collecting preferences that can be described as collecting patterns. As a preeminent collector and owner of one of the two major auction houses in the world, Pinault’s consumption preferences and decisions may impact the art market, for instance through signals and by influencing other art market players or the artists’ careers.

Clarity on Cannabinoid-Based Products in Medicine

The perception of cannabis in society has changed over the last decades, leading to an increasing permissiveness about its use mainly across Western countries. This has happened in parallel to the growing study of the possible role of cannabinoid-based products in medicine. The cannabis plant contents comprise more than one hundred different cannabinoids, each binding differently to numerous human body targets. This cannabinoids administration, either isolated, combining some of them, or as a full plant extract can produce many different risk–benefit effects in humans depending on the product composition. Moreover, we have seen the appearance of synthetic cannabinoids. As expected, doses and different routes of administration introduce further variability. Cannabinoid-based pharmaceutical products authorised for medicinal use after comprehensive research and with approval by regulatory medicines agencies, such as the European Medicines Agency (EMA) and U.S. Food and Drug Administration (FDA), should be distinguished from cannabinoid-based products (whether standardised or not) that aimed for medicinal use but lack submitted efficacy, tolerability, and safety scientific evidence for regulatory approval. Distribution of some of the latter products are still allowed in certain geographical areas. There are also cannabinoid products used mainly recreationally or as food supplements and ruled separately. In a detailed white paper, this review describes the present situation, depicting the societal and medical state of the art, collecting the facts-based risk–benefit features of already available cannabinoid-based products, and also the future possibilities in medicine, which can be vast if proper research is developed

Development of Art Collecting in Ukraine: Historical, Cultural, and Social Background During Late 17th–18th Centuries

The article studies the origins and features of the art collecting at the territory of modern Ukraine. Socio-cultural, geo-political and historical backsground of the 17th–18th centuries became subject for consideration while making conclusions regarding the reasons and period when art collecting became widespread among the ruling elites and noble families of the region. The history of such collections is examined, their main characteristics and components at the time when Ukraine was divided into Left-bank and Right-bank Ukraine were observed.The research identifies main types of artistic practices widespread at that time in Ukraine, which served as the source of collectibles for private and primary institutional collections. The article considers differences of art collecting phenomenon caused by geographical context (Right-bank, Left-bank Ukraine) and by the changes in political and religious factors that all had impacted behavior and preferences of collectors. The research covers main well-known art collectors and demonstrates examples of collections, which laid the foundation for the transformation of collecting from the individual accumulation and preservation of cultural values to the formation of museum-level collections of national and worldwide importance.

DEVELOPMENT OF ART COLLECTING IN UKRAINE: HISTORICAL, CULTURAL AND SOCIAL PRECONDITIONS DURING XVII–XVIII CENTURIES

The scientific article is dedicated to the study of the origins and features of the art collecting at the territory of modern Ukraine. Socio-cultural, geo-political and historical preconditions of the XVII–XVIII centuries became subject for consideration while making conclusions as to why and when art collecting became widespread among the ruling elites and noble families of the region.The article examines the history of such collections, their main characteristics and components at the time when Ukraine was divided into Left-bank and Right-bank.The research identifies main types of artistic practices widespread at that time in Ukraine, which served as the source of collectibles for private and primary institutional collections. The article considers differences of art collecting phenomenon caused by geographical context (Right-bank, Left-bank Ukraine) and by changes in political and religious factors, all having impact on the behaviour and preferences of collectors. The research covers names of well-known art collectors and demonstrates examples of collections, which laid the foundation for the transformation of collecting from the individual accumulation and preservation of cultural values to the formation of museum-level collections of national and worldwide importance.Keywords: collecting, art collecting, collectors, the phenomenon of art collecting, the history of art collecting.

Art collecting as consumption and entrepreneurial marketing as strategy

PurposeThe authors adopt a biographical methodology to investigate how a privately funded art museum has risen to become a key visitor destination on the island of Tasmania, Australia.Design/methodology/approachThe authors utilise both entrepreneurship and consumption as collecting lenses to gain insight into the success of a new arts venture. In addition to biographical methodology the authors utilise in-depth interviews and participant observation.FindingsThe analysis shows what can be achieved when alternative paths to creativity and innovation are pursued. The creativity inherent in such actions does not necessarily have to be substantial. Sometimes incremental approaches to achieving something different from the norm are sufficient.Research limitations/implicationsImplications include the continued merits of adopting a biographical approach to uncovering longitudinal insight into interlinking entrepreneurship and consumption practices. This approach enables key impacting events over time to be identified as they impact on the direction taken by the art entrepreneur.Practical implicationsThere is growing evidence that administrative approaches to arts governance are limiting in their effectiveness. This paper addresses the call to be more entrepreneurial in arts governance practices.Originality/valueThere are only a limited number of papers on entrepreneurship and consumption in the arts and this research adds to knowledge in the area.

The art of the "naughty" at a turning point (late 1980s — early 1990s)

The article presents a historiography of the non-state sector of culture and the processes that took place in the artistic life of Ukraine at the crucial time of the late 1980s — early 1990s. It shows various aspects: changes in stylistic trends, the rising of creative freedom of the young generation of artists, social changes, the economic situation and the rise of the art market, which had just appeared on the ruins of the former Soviet Union. On the case of Tiberiy Szilvashi, the "Zhyvopysnyi zapovidnyk" ("Picturesque Reserve") group, and members of the Parkomuna (Paris Commune) it is shown how changes took place not only in works of artists, but also in a transition to market relations considering the latest changes. The article describes the formation of the gallery movement in Kyiv, namely the activities of such institutions as Atelier Karas, Triptych Art Gallery, Gallery 36, L-Art Gallery, Irena Gallery, "Blank Art" and others. The problematic moments are identified and described, the analysis of external and internal factors that determined the path of the gallery activities of Kyiv in the first years of Ukraine's independence is carried out. The problem of works of art collecting made by representatives of the "fresh" bourgeoisie is raised. The materials of the article can be used in further scientific research on the history of the art market of Ukraine, in particular, gallery business.

Features of Private Art Collecting in Ukraine in 1990s–2000s

The article analyzes private art collecting in 1990s–2000s in Ukraine. It is important to mention that collecting works of art in Ukraine of the time indicated in the article does not have comprehensive coverage. The complexity of the study of this issue is also due to the closeness and limitation of access to private collections. The collapse of the USSR, the transition from a totalitarian regime to democracy and the establishment of a market economy in Ukraine contributed to the formation and creation of private collections of artistic works. At this time, three main branches of non-state collecting begin to form: private collections, corporate collections of institutions (banks, insurance companies) and foundations. In the early 1990s the practice of collecting works by banks came to Ukraine from the West. Ukrincombank, Southern Bank, Gradobank, etc. were involved in that work. The interest of private individuals in forming their own collections also begins with Ukraine’s acquisition of Independence, but gains momentum in the early 2000s. The art collections were represented by E. Dymshyts, L. Bereznitsky, A. Adamovsky, I. Voronov, V. Pinchuk and others. One of the most important collections began to be initiated by Boris and Tatiana Hrynyov family of in 1996. Their idea of the collection arose from the concept of Kharkiv artists. In the circle of their interests — the art of Soviet nonconformists and Ukrainian contemporary art. Foundations of art appeared in Ukraine after the proclamation of Independence in 1991. These are non-governmental and non-profit organizations, established by private or corporate enti- ties. Important foundations in Ukraine, that have their own collections of art, are Soviart, Alexander Feldman Foundation, Stedley Art Foundation etc. The collections of the 1990s and 2000s are very important for the history of Ukrainian art and collecting. The collectors of this period have played a key role in preserving the artistic heritage of Independent Ukraine.

4. Uses and prices of art

‘Uses and prices of art’ details how, since the early 2000s, strong modernizing forces in the contemporary art market brought money into clear view and unabashed discussion. The prices of art and the forces that threaten art’s autonomy are all part of the story. These include the modernization of the art market, and the competing demands, promulgated by the state and business, that art should be put to use. Corporate art collecting has had a massive impact on the art world and this has been driven by the growing number of the super-rich who buy contemporary art. Ultimately, art has become a standard investment, part of the portfolio of the super-rich, used to spread risk and engage in tax avoidance.