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Collecting works of art has always been an integral part of the art market and it still plays an important role in the 21st century. Buying and selling cultural assets is a two-way transaction, where investment in a work of art equals both support for the artist and the popularization of art. However, it is undeniable that in the patronage relationship, based mainly on financial support, it is the collector who holds the dominant position over the artist. Taking advantage of his privileged status in many aspects, they can easily influence and/or manipulate the decisions of artists, thus achieving a position of power and climbing the social ladder, multiplying their wealth. What, then, is an ethics of art investment that can revolutionize this relationship?

"The Ethics of Collecting" – get to know the Code!

Deontology, or professional ethics, is a concept derived from the philosophy of Immanuel Kant. It has been used in the formulation of professional rules for many public sectors. It is on this concept that the founder of the collective, Piergiorgio Pepe, based the rhetoric of the Code. Pepe invited 7 other collectors to collaborate, also drawing on the guidance of numerous curators, artists and galleries when editing the guide.

The authors of the Code of Ethics for Collecting Contemporary Art have divided the publication into 7 chapters, covering issues such as interaction with artists, participation in the production of work(s), supporting institutions and cooperation with professionals in the art market. The aim of the project is to inspire contemporary art collectors to reflect on their current position and role in the art market and to encourage them to build a fair and socially just community.

An ethical collector, that is, who?

According to the creators of the project, collecting art should be, above all, conscious and honest. In dealing with artists, this is reflected, among other things, in transparency, respect for their independence and appropriate remuneration, adapted to the market situation. In the section that describes the ethical rules of collection building, issues such as the prohibition of market manipulation and enforcement of resale rights are mentioned.

The group responsible for the Code declared that they will update it every year in order to adjust its content to the situation in the art world. Readers are encouraged to send comments and suggestions to improve the publication. The project's website also offers an opportunity to fill out a survey designed to help collectors constructively self-assess their role. 

Find out more about the project: https://ethicsofcollecting.org

 

Added 2022-03-15 in by Julia Wysocka

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