Art Patronage: From Objects to “Clout”
Experts see a new form of art patronage emerging that changes from the ownership of objects to funding public facing art projects that generate visibility and deepen social influence (clout). Although the art is public, the patron receives status via exclusive access for their personal circle, such as private viewings or events.
It’s a trend predicted by cultural strategist Marc Spiegler who connects this to broader luxury experiences that are popular among the “new wealthy”. At the same time, he sees this development mainly in the West, whereas in Asia patrons still focus on building physical art collections that are showcased in private museums.