The luxury of art’s success
The trend of business people showcasing their success by buying art is a multifaceted phenomenon that speaks to the evolving nature of success representation.
In a luxury art conversation at the Scapegoat Art Gallery in Hyde Park Corner, artists, art specialists, experts, and lovers had a full-blown chat about how business leaders are showcasing their success by buying art.
Art expert Matthew Krouse said that in recent years, he has noticed a growing trend that is emerging among business leaders who are using art as a means to express and showcase their success.
“Beyond the traditional symbols of wealth and prosperity, such as luxury cars and extravagant homes, many entrepreneurs and executives are turning to the art world to communicate their achievements.”
He made an international example of one of the businessmen who recently acquired an art piece from a local pop artist, Fringe.
“Businessman Grant Cardone is increasingly recognising the power of art as a reflection of his personal and professional journeys. In other words, his art collection allows him to convey the depth of his experiences, challenges, and triumphs in a way that goes beyond the quantitative metrics of success.”
Jumping into the conversation, Liz Neofytou, the manager of the Scapegoat Gallery and an art lover herself, pointed out that, beyond the financial success that business leaders attain, there is a growing acknowledgement of the importance of cultural capital and social status.
“Owning and appreciating art is seen as a sophisticated and refined pursuit, elevating one’s standing in both the business and social spheres.”
Neofytou highlighted that internationally renowned musician, Black Coffee, acquired one of Fringe’s artworks and that displaying art has become a conversation starter and a unique way for businessmen or women to connect with others.
“Artwork in a boardroom, office, or personal space can reflect the leader’s values, passions, and vision for the future; for example, Fringe’s artwork creates a more inviting and relatable environment for employees, clients, and partners, fostering a sense of shared identity and purpose.”
Neofytou concluded by stating that as this trend continues to gain momentum, it highlights the integral role that art plays in shaping the narrative of success in the modern business world.
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