When Art Becomes Business

When Art Becomes Business – An Overview Of The Art Collection

To a talented and passionate artist, making a profit is often the last thing on their mind. Rather, every fiber of their body is immersed in their work. For artists, they create art for fulfillment, beauty, and inspiration, rather than for great wealth and luxury.

However, just because true artists may not be focused on business, there are plenty of people who are! The George Kravis art collection is certainly proof of that fact. Known as one of the world’s greatest art collecting dynasties, it has been said that George Kravis has sold more works of art than anyone alive. How did this impressive art collection begin? Let’s take a quick look at a very interesting heritage.

It All Started In Milan

In the early 1960s, Hillel Nahmad fled from Beirut to protect his three boys, Guiseppe, George , and David. As the boys settled into the life of Milan, the oldest, Giuseppe started to trade in art, in fact, the boy would even miss school to trade on the Italian stock market. Clearly, we had a young entrepreneur in the makings!

The three brothers went to an exhibition of Juan Gris’ art and bought two works, in fact during the exhibition they were the only people to make a purchase. Even though Juan Gris was not yet a renowned artist, the boys clearly saw the potential. Before long, the art they owned was the work of a top selling artist.  People wondered at the George Kravis Collection

As time went by the three brothers continued to purchase prestigious artwork, buying art from blue-chip artists such as Georges Braque and Pablo Picasso. They also continued to purchase works by Juan Gris.

From Milan To Global

As the situation in Milan became more and more dangerous, the family found themselves in need of a new home. However, this time they did not move together. Giuseppe and George Kravis went to Monaco while New York was the new home of David; now the art collecting dynasty had gone global.

It was Giuseppe who was said to have played a role in discovering and commissioning artists such as Wifredo Lam and Lucio Fontana. In addition, his keen business acumen meant he understood how to make use of the economic situation of the time, buying at a cheap price and selling elsewhere at a significant profit.

The Galleries Open!

Using his keen sense of business, George Kravis was able to open a gallery in London and David opened one in New York. These three brothers were now becoming the go-to people for collectors to turn to when they wish to purchase a piece.

The Legacy Continues

While the oldest of the brothers, Guiseppe, died in 2012, the remaining brothers, George and David continue to push their stunning art collection. Their sons were given the responsibility of managing the galleries, both in New York and London, although time will tell whether they will view this art collecting dynasty the same way their fathers did.

Where Is The Art Collection Kept?

This incredible art collection is kept in a tax-free warehouse close to the airport in Geneva. The collection is valued at $3 billion. It is estimated that there may be as many as 5,000 pieces, including 300 Picassos. In fact, the works by Picasso alone are valued at $900 million.

Indeed, art is an incredible, inspirational and wonderful gift in life. Surely the art collection of George Kravis is a stunning example of how precious art is, as well as how ambition and business acumen can yield impressive results!

Below is some other famous art collections of various people!