www.privateairny.com Private Air | Winter 2023/2024
57
THE COLLECTION
Words By: PURE Insurance
CURATORIAL
COLLABORATION
Explore the multifaceted reasons why art
collectors choose to lend their pieces to museums,
ranging from enhancing public education and
enriching cultural experiences to fostering artist
visibility and navigating the logistical and tax
considerations involved in art loans.
A
fter attending an art
exhibition, a member,
new to collecting,
asked us about art
loans. While at the exhibition,
he overheard a couple talking
with their advisor about sending
their newly purchased piece to a
museum—raising the question:
Why? We discuss the topic of
museum loans frequently with our
members, often helping facilitate
the loan for our seasoned collectors
and educating newer collectors on
the benefits and best practices for
institutional loans.
Public Education &
Enrichment
Few collectors consider sharing their
works for public consumption early
in their ownership journey; however,
those who do say they lend works to
museums for several reasons, chief
among them being public education
and enrichment.
"If we have something that's
beautiful and other people get
pleasure out of it, that's a wonderful
thing," says Jay Greenspan, PURE
member and private art collector.
"at's the whole point of art."
