As Italy’s new government struggles, one hundred financiers, entrepreneurs, collectors, curators, dealers and academics met in Florence for a private talk regarding the future of art and finance.
Usually the equation Arts, Bankers & Curators works well. It is almost impossible to have an exhibition without these 3 factors.
Galleries are becoming similar to financial businesses. It is about buying and selling, dealing and negotiating.
Art goes all around the world from New York to Abu Dhabi Art Fair.
Banks were interested as well when some auctions took place and prices were almost out of control.
Artists were the celebrities of the moment. Allowed to do whatever they wanted and enjoying their status without any shame. There was of course the famous outburst of Tracey Emin Live on Television.
Since then things have slightly changed. Some art galleries had to close down because the economic downturn didn't help.
Banks are still open and surviving. Some are better than others, it is all about the strategy, the customer service and the involvement in various sectors.
Art is still selling but slower than before. However, there are still incredible record such as Henri Cartier-Bresson's photograph which sold for €433.000.
People started to put their money towards wine investments...apparently safer than art. Big investors are keeping a close eye on the bottles, considered as the new gold.
Arts, bankers and curators will always be necessary when it comes to setup a show simply to find the right balance between the colours, the finance and the supervision of the space.
You should never change a winning team.
And for the art lovers: the meeting is next year at the Tate Modern for an extraodinary exhibition concerning Damien Hirst's works, including "For the Love of God" (the famous skull covered in 8,601 diamonds).