Thursday, August 26, 2010

Will tough times trigger corporate art selloff?

Will tough times trigger corporate art selloff?: "Corporations collect art for a variety of reasons, of which turning a profit is often the least important. Some companies like to see supporting emerging artists as a form of corporate social responsibility, or philanthropy - works can be lent to museums and galleries for shows.

Others use art to flaunt their corporate wealth. Fred Goodwin, former chief executive of the once high-flying but now state-owned Royal Bank of Scotland used to boast about the David Hockney in his office."

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