Originally posted by The Old Man:
Eli Broad, "Contemporary art is the art of our time."
Isn't this from the Department of Redundancy Department?
Old Man, my guess as Broad rarely if ever misspeaks about art.
I also would say contemporary art is the art of today. I don't think that has been the case until the last 10-15 years, maybe 20 at the most. (?) While there has/will be always been contemporary
art, I would suggest it has only recently become the darling of the art collecting community recently in general. ( look at Art News
top collectors edition) I think there are reasons for this.
When D and I started collecting art seriously about 25-30 years ago we focused on Modern art, ( 1906-1956) AE, NY School, expressionist and some Pop. As baby boomers started aging and acquiring more art, the world became flat (BRIC) and the internet changed art collecting like nothing before the market for many genres just dried up and what was available became too expensive for the vast majority. Steve Martin's book An Object of Beauty
makes this case in spades. As you know, Martin is a very serious collector and even at his level it has changed what he collects. When Marc Chagall died in 1985 one could still buy a nice while not museum quality work of his for under $7500 as we did. This for many reasons is just not the case anymore.
Our very modest collection of 150+ works is now over 70% contemporary I would guess, maybe more. I will share a story from Martin's book and as you may know, Martin refers to actual art collectors in his book. While an art enthusiast is viewing a massive collection of modern and contemporary art in a mansion on Long Island he is asked why this genre is his favorite? The man replies his favorite is not modern or contemporary but High Renaissance. When asked then why do you collect modern and contemporary he replies because he can fill his home with art that he enjoys buying the finest modern and contemporary art, but if he collected art from the High Renaissance he would only have one or two works of art to enjoy. While everyone has different amounts they spend on art, I think this is the case for all of us that art is their passion.
Thus, I also think contemporary art is the art of today, and now even museums are focusing on it thanks to people like Broad and others.