What inspires the most successful art collections?
Dec 17, 2012 | Our Perspectives Archive
Unlike investing, where emotion can sometimes lead to imprudent decisions, it is passion that is at the heart of most successful art collections. In her conversations with clients around the world, Lisa K. Erf, Director and Chief Curator of the JPMorgan Chase Art Collection, has found this to be true not only for established collectors but also for those just starting out.
“The people I meet start collecting for a number of reasons. It may be that they have more time or now have the means to pursue an interest in art. They may find that something is missing from their busy lives. But the most compelling reason that people collect art is out of passion, because people are curious, people want life to be more interesting, people want to learn more about the world around them.”
And the art world—especially the world of contemporary art—offers myriad ways to express that passion. “Contemporary art is very global, incredibly social and a lot of fun,” says Ms. Erf, “and it also provides an opportunity to meet artists and gain insight into their creative process.”
Developing connoisseurship
Ms. Erf encourages collectors—established or novice—to develop their connoisseurship by engaging with artists: visiting their studios, attending gallery exhibits, museums and art fairs, and meeting curators and gallerists. “Developing your eye and going to see art in person so that you understand what it actually looks like is very important,” says Ms. Erf. “As you spend time with different artworks, you will then be able to discern whether a particular work of art will really nourish you over a long period.”
“What makes a great collection is acquiring artwork that has a sense of challenge, a sense of risk taking. To know everything about a work of art and how you feel about it, both intellectually and emotionally, can’t be done in a short period of time,” explains Ms. Erf. “What discerning collectors look for is a work that has a strong emotional appeal that unfolds over time, as the viewer comes to it at different times.”
Collecting with conviction
The contemporary art world can also be enigmatic and a bit intimidating. Acquiring a new work of art can leave even an experienced collector feeling insecure when there is no perspective to judge it within the context of history, time and greater expertise. The great movements of the past, such as Impressionism and Cubism, were viewed as radical at the time and were not valued. Yet today, those pieces are considered mainstream.
This is true of the JPMorgan Chase Art Collection that Ms. Erf oversees, which includes works by Alexander Calder, Sam Francis, Josef Albers and Jasper Johns, among others. These artists were little known at the time their work was first acquired but are some of the most renowned names in art today.
While it is important for the potential collector to understand the artists and what inspires them, it is essential, says Ms. Erf, “to step back and think about what is important to your emotional makeup and how a particular work of art may feed that. Having the confidence to admire something and to value it before others around you—that is quite a remarkable accomplishment.”
Connecting with the right specialists
Ms. Erf finds that many clients do not have the time for the research and education that are necessary to make sophisticated decisions. “And that’s where we can help. With our leadership of over 50 years in art collecting, connoisseurship and stewardship, we are able to reach out for our clients and put them in touch with the right experts. We have a great network of conservators, art managers, curatorial assistants, advisors—all sorts of specialists who can help.”
“One of the most rewarding parts of my job,” says Ms. Erf, “is the opportunity I have to meet with so many different people who are curious about art, passionate about creative production, and interested in sharing that across cultures and generations.”
We invite you to contact us and a J.P. Morgan representative will be in touch with you.