That the art market is evolving towards the route of the new rich is now a fact. And that this new wealth is in the hands of younger collectors is emphasized by the new ranking just released by Modern Painter, with the 50 most exciting art collectors under 50. Dominates all by New York, a good slice of the pie has also Germany, with 12% of collectors under 50 in the standings, but 10% of the ranking is made up of collectors from Latin America, especially Mexico City and Sao Paulo, and 10% from eastern countries like India, Middle East, Japan.
What do collect those under 50? The composition is very diverse, although a nationalistic spirit seems to prevail in these collections. For example, Alfonso Garcia Castillo, a financial advisor of Monterrey, has been collecting since young emerging Latin American artists. Among his latest acquisitions Jose Davila, Marcela Gutierrez and Cynthia Armas. Same goes for Cesar Cervantes, restorer of Mexico City, who collects the works of Abraham and Gabriel Orozco Cruzvillegas among others. Also from Mexico City, Moises Cosio, film producer, has started to support cultural public projects since the age of 28 years, and is a big fan of Mexican artists including Dr Lakra and Pedro Reyes. Latin American oriented is also the collection of Celso Fioravante, founder of Brazilian art guides Mapa das Artes, with works by Sergio Camargo, Eliseu Visconti, Amilcar Castro. The collection of the designer Jose Antonio Marton of Sao Paolo is entirely Brazilian, who started collecting in 1990 and now has over 400 works including Vik Muniz, Ernesto Neto, Marcelo Cidade, Ana Tavares.
New York based but originally from Beirut is Taymour Grahne, with a collection focusing on contemporary Middle Eastern art. Among recent acquisitions Derakshani Reza (Iran), Mohannad Orabi (Syrian), Mouna Bassili Senhaoui (Lebanon). Fawaz Kanoo come from Bahrain, manager of Kanoo Vehicle Leasing, very close to the art of his country, with artists like Adam Sabhan, Fadi Yazigi and Lalla Esaydi. Even Afkani Mohammed, Dubai, prefers contemporary Middle Eastern art, as well as being a founding member of the Acquisitions Committee Fund Middle East and North Africa in the British Museum. These are just some examples that have led the major auction houses to open branches and offices in outlying areas such as Christie’s in Dubai in 2008, and Brazil and Mexico, are already planned for next year also for Sotheby’s.
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