Thursday, August 11, 2011

Know the secrets of Charles Saatchi's success as a collector

Averse to grabbing spotlight, Charles Saatchi seldom attends the openings of exhibits at his own gallery. His practice of acquiring works of emerging artists has proved contagious, arguably the greatest influence on the contemporary market. Several other new investors and even veteran collectors are following his lead. However, the maverick collector does not like to give interviews and, if he does so, he says as little as possible.

What is it that he looks for before buying a work? Is there any logic or pattern to what he buys and sells? Does he hold himself responsible for the speculative touch to today’s art market? If you wish to get an insight into the world’s most influential art expert’s mindset and philosophy, ‘My Name Is Charles Saatchi And I Am An Artoholic’ (164 pages; Publishers: Phaidon Press) is a must read for you. It reveals almost everything you want to know about the maverick collector and the mad ad-man.

What is his secret of collecting, investing and buying art? In one of the rare elaborate interviews, he reveals: “Artists need all kinds of collectors, buying their art. I never think too much about the market. I don't mind paying three or four times the market value of a work that I really want. As far as taste is concerned, I primarily buy art in order to show it off. So it's important for me that the public respond to it in particular and contemporary art in general. There is no logic or pattern I can rely on to decide what to sell and when to sell it.”

Incidentally, the pre-eminent collector of his generation, will be gifting over 200 artworks from his personal collection as well as the world-renowned Saatchi Gallery to the nation. He still possesses hundreds of pieces that will be handed to his family. The works to be donated to MOCA London are valued over £25m at their current market value.

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