The Next Gen Art Collectors 2021

COLLECTORS 1 THE NEXT COLLECTORS REPORT 2021 3 LARRY’S LIST is pleased to present The Next Gen that have not yet been acknowledged or made visible For us, size wasn’t a main consideration. Indeed, not a blue-chip artist will most likely generate more “likes” FOREWORDArt Collectors Report. Here, we continue our mission on a global scale. We want to share their stories and everyone listed has a large collection; charmingly, the than an unknown artist in an equally brilliant interior of monitoring global happenings, developments and thoughts. Next Gen often have collections in the making. The setting. But we still try to balance it and set aside any trends in the art world—particularly in the contemporary We also consider LARRY’S LIST as a guide and tool process is a development that happens over years care about the algorithm. art collector field—by looking extensively at the next for practitioners. We share and name collectors, those and so a mid-20-year-old collector may not yet be at generation of young art collectors on the scene. Over people who are buying art and contributing to the the same stage in their collection as someone in their Final words the past few months, we have investigated and profiled art scene. The Next Gen Art Collectors Report is a late 30s. I would like to express my gratitude to all the collectors these collectors, answering the questions central to this resource for artists, galleries, dealers, a general art- The end result of our efforts is this report listing over we exchanged with in the preparation of this report topic: Who are these collectors founding the next art interested audience and, of course, peer collectors. 150 persons. For us, it is important to note that this for their inputs of information, for giving access to collections? Who are those preserving and developing Read it now, thank us later! is a listing and not a ranking. Furthermore, the list their networks and for sharing their thoughts with existing (family) collections? Who are the builders of the does not claim to be comprehensive but rather a us. Particularly, I would like to thank Oleg Guerrand, latest museums and art spaces? Who are the opinion How did the listing come about? cross-analysis of art collectors around the globe. Yohana Irawan, Huma Kabakci and Victoria Rogers for makers who will influence the art world over the next Our definition of an art collector has been discussed in the in-depth interviews with them about their collections few years? How can one support artistic creations and our previous reports (Private Collector Report, Private Outlook and collecting approaches. Also, a big thank you to be a patron of the arts beyond the physical collection? Museum Report) and it also forms the basis of our very Often art collecting is considered as something our editorial and research team for making this project own LARRY’S LIST art collector database. For this privileged, with which we do agree. At the same happen, particularly to Jamie Bennett, Ricko Leung Why this report? report, we have applied, in principle, the same criteria time, we see it as a crucial part of preserving art and and Abhinit Khanna; our designer Summer Tsui; as Curiosity drives us! And we know that our collector while also taking into consideration how actively a culture. Our overall credo has not changed: We want well as a number of loyal friends and supporters. community and readers are as equally curious to collector engages with the art scene by different to celebrate the contribution to art and culture by hear who these collectors are and to learn about their means, rather than purely analysing the number of collectors. “Cherish and nourish the creative industry and art approaches, ideas and motivations. The relevance artworks he, she or they may hold. Our methods are As a media we focus on observing happenings rather scene and use the art to embark on an exchange of this topic is immanent, even more so in these based on research, data collection and data mining, than articulating our own opinions. Nonetheless, across regions.” We are living in a decisive period in unprecedented times in which the importance of young but our information and findings are also derived out we would like to share a thought with our collector which the world narrows down in many aspects and collectors in the art ecosystem has never been more of a personal and direct exchange with a growing community: Enjoy the diversity of art creations and physical exchange is limited. With this paper, we hope apparent. As put in the recent Wall Street Journal article, network of collectors around the world. collect accordingly. We see strong overlaps between to inspire people and collectors to further connect “Millennial Buyers Help Global Art Market Survive the Our criteria for eligibility for the list include an age collections. As a collector, you have the opportunity across regions and cultures and to remain respectful Covid Pandemic” and specifically the Asian buyers as parameter. We selected 40 years of age as the to support all kinds of art and artists (and create new and curious about what others have to tell. This is The Art Newspaper describes, “Asian Art Market Flies maximum. However, we have made a few exceptions markets along the way). Enjoy the freedom to make something we would be happy to see further in, but in the Face of Coronavirus.” Their contributions motivate as this is more of an artificial than natural cut-off point, your own choices and collect what is important to also certainly beyond, our art world. us to explore this subject more deeply, break this group and we aware of any arguments against it. you. The market is not the only source of validation down into individual collector names and give credit Also, we realise that some people listed not only collect for a collection. where credit is due. but also practise as professionals in the industry or deal And as much as we enjoy and treasure our social media Moreover, while some of the collectors named in artworks as well. We do not want to artificially exclude for communication and exchange, we also witness our listing have been recognised and quoted as them as the borders are fluid, and we know from the that it narrows down the canon. The same artists are Christoph Noe, collectors on other occasions, and will be familiar past that some of the most recognised collections seen again and again. We know this firsthand from Co-Founder and Director of LARRY’S LIST to our readership, we also seek to portray collectors have been built by art dealers. running our own social media. A beautiful interior with Hong Kong, February 2021 1 Kelly Crow, “Millennial buyers help global art market survive the covid pandemic,” Wall Street Journal, January 4, 2021. 2 Georgina Adams, “Asian art market flies in the face of coronavirus,” The Art Newspaper, December 16, 2020. 5 • In line with previous observations on the overall collector scene, New York, London, Seoul, Beijing, Shanghai and Hong Kong are major art hubs for next generation collectors. KEY OBSERVATIONS • We witnessed a strong force of young collectors from Asia, particularly China, Korea and Indonesia. • We did not identify any young collectors who exclusively focus on digital art or multi- media; painting and sculptures are still the preferred media to collect. • Along with the new generation of collectors, there is a new generation of artists emerging. • The next generation of collectors is much faster to make their preferences, interests and, ultimately, their collections accessible to a wider public, often through digital sharing but also through opening spaces or museums, particularly in Asia. • A significant number of these collectors use their power in the art scene to promote (local) emerging artists and to push for greater inclusion and representation within the industry. • Collecting is perceived as only one method of possible engagement with the art scene. In a number of cases, it goes along with curatorial projects and artist-in-resi- dency programmes. • Instagram continues to be the dominant medium for communication and engagement. Often being digital natives, the online presence of Next Gen collectors does not come as a surprise. • Although social media is being embraced, we did not yet come across any young art collectors present on TikTok. • While a number of these young collectors continue a generational collecting tra- dition, many have taken up the practice without any previous family history of art collecting. • Collectors have always been keeping their collections dynamic through upgrading, rebuilding and refocusing. This is neither new nor unique to the younger generation of collectors. What is new is that their activities today are more transparent than in earlier times. • While there are regional favourites of artists, a number of artists also have a global appeal, especially for millennial collectors. Notably, a number of such artists them- selves are present and active in the digital space and on social media. • Collecting art has a strong lifestyle component. 6 7 FRIEDRICH AND JOHANNA GRÄFLING Frankfurt, Germany sammlung FIEDE, Salon Kennedy @graflings, @salonkennedy and @kunstverein_wiesen Central to Friedrich and Johanna Gräfling’s collection, named sammlung FIEDE, is public access. As such, they collaborate closely with the artists in their collection, providing them with exhibi- tion spaces – Salon Kennedy in Frankfurt and Kunstverein Wiesen just outside the city – and the freedom necessary to achieve new levels of experimentation. The couple identify three main branches in their collection: early or relatively unknown works of established artists, Berlin-based artists and young artists who may still be studying.

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