Building a Lasting Legacy: Art Collecting Across Generations

My own experience in art collecting has been deeply influenced by my family's rich history in the art world. Growing up, I was fascinated by my grandfather's stories of searching for rare African art with his friend and art dealer, Gaston de Havenon. He instilled in me the importance of art collecting as a way to build a lasting legacy, not just a valuable investment.

When my grandfather passed away, he left behind a collection of art pieces and a list of their estimated values. My mother and I inherited not only the art but also the responsibility of managing and deaccessioning the collection. This experience taught me the importance of negotiation and the art market, skills that I still use today.

Over the years, I've worked with many families, including TIGER 21 families, to develop strategies for building an art collection that brings families closer together and creates a lasting legacy. I've identified three approaches to art collecting across generations: exposure, inclusion, and immersion.

The Exposure Approach focuses on building an art collection around the family home, introducing children to the world of art through decorative pieces, furniture, and portraits. This approach is ideal for families with young children.

The Inclusion Approach involves including children in the process of acquiring art, introducing them to "blue-chip" artists and creating an art guide for the collection. This approach works well for families with older children.

The Immersion Approach brings all generations of a family into the process of collecting, focusing on education, due diligence, and financials. This approach is best suited for families with adult members.

A recent case study with TIGER 21 members Kelly Rhea and Ryan Broyles demonstrates the power of art collecting in building family unity. Through a full immersion approach, we taught the fundamentals of art history, art valuation, and the auction process. The family was able to acquire pieces for their investment portfolio, and the experience brought them closer together.

"We felt like veteran collectors," Rhea said. "The Fine Art Group took us behind the scenes and escorted us through museums and auction houses to see the most incredible pieces of art."

The family's experience highlights the importance of education, communication, and collaboration in building a successful art collection. By working together, families can create a lasting legacy that brings them closer together and provides a valuable investment for generations to come.