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ART COLLECTION PROJECT

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budget?15 thousand
MASC01 NAVIGATING THE ART WORLD UNIT ASSIGNMENT: ART COLLECTION PROJECT (85% of the total project mark)
4,000 words (maximum) plus catalogue entries.
The assignment must be submitted electronically to Canvas by The assignment must be submitted electronically to Canvas by 23:59pm on Wednesday 13th December.
All information relating to this assignment is posted under the MAAB Programme Unit on Canvas.
COLLECTION CONCEPT
Every good art collection has a mission, theme, idea or aesthetic that holds all of its component art objects together. Your collection can be based on any theme which interests you (and your benefactor). It can consist of any type of fine or decorative/design art objects. These can be narrowly grouped into a single homogeneous collection, or the collection can be mixed in terms of both period and media. It can be an indoor/outdoor collection. Possible themes include:
Genre – e.g. still life, landscape, portraiture, history, the nude…
Medium – e.g. the recent Bronze exhibition at the RA in London, ceramics, contemporary time?based media…
Period – e.g. ancient, medieval, renaissance, or perhaps one of the ‘?isms’, such as Neo?Classicism, Realism, Impressionism, Minimalism…
You will be asked to include a narrative describing the mission, purpose and design of your collection. You will explain the curatorial drive and rationale behind the collection – is it a corporate collection, a foundation, a memorial to a deceased famous collector or collecting family, or an educational collection?
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BRIEF
A benefactor has asked you to create and curate a private collection of twelve art objects to be based within a fictional space in London. Although the collection itself is virtual, its art objects are actual and are to be sourced in real time from galleries (both virtual and online), art fairs, or auctions (both live and online). All contextual aspects affecting the collection, such as budgetary, display, conservation and transport and insurance issues are also actual. All art objects purchased must have been publically available on the market between March 1st, 2017 and December 6th, 2017, one week prior to the assignment submission date of December 13th, 2017. You may only purchase a maximum of 6 works from the period March 1st, 2017 to September 20th, 2017. This is to encourage you to purchase ‘live’ in auctions, commercial galleries, art fairs and online.
BUDGET
Your benefactor has limited you to the budget band as given in COLLECTION PROJECT BUDGETS ON CANVAS: https://online.sothebysinstitute.com/courses/1124/groups#tab?393
Each band assumes an average of 1 unit for purchase of each art object, plus an extra 3 units for overall associated costs necessary to maintain the collection for three years. However, it is your decision how you allocate these funds, so long as you rationalise your budgetary decisions. NB For confidential reasons, your benefactor requires that you spend all available monies in your budget, within parameters of +/? 10%.
As you “acquire,” you should assess typical price bands for each art object by using market databases, and ensure that the prices you are paying fall within these bands so that you are not being overcharged. If a work is purchased for an atypical price, this must be explained in your budgetary account. You should source related materials including JPEGs, and artist’s biographies, etc. Like any collector or collector’s agent, you will want to obtain as much information about the individual pieces as possible, including provenance, exhibition and conservation history, medium, editions, related literature and correspondence, etc. Also take note of incidental expenses that you might incur such as buyer’s commission, taxes, import and export duties, shipping, conservation/restoration costs, framing, installation and insurance. All related research should be noted within the project.
Take this opportunity to explore in depth areas of the art market that interest you.
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PURCHASE STRATEGY
If possible, avoid buying your 12 works from one single type of source. Prefer a range of sales locations including auctions, galleries and online. If you must buy from one type of source this must be rationalised.
PURCHASE ETHICS
Remember that this is a fictional academic exercise. You must not mislead a dealer into believing that you are a real?life buyer. Be open from the start that this is an academic project, and that you would like an approximate price quoted for the work if it is not openly available, for example on the label, or on a price list provided by the gallery upon request. You must not approach any art market player with questions by e?mail. Remember that they are businesses and it is unethical to waste their time with academic questions. You will not receive any grading credit for this kind of information. Likewise, your grade will be penalised if it is discovered that you have approached dealers or other art market professionals in an unethical manner.
SUBMISSION AND FORMAT
Your Art Collection Project should be submitted on Wednesday 13th December by 2359. It must be uploaded onto Canvas electronically as a single document. Text should be double?spaced. The text is to be broken down into four sections. Each section and sub?section should be clearly titled. Your project will include the following:
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PART I – COLLECTION CONCEPT
Every good collection has a mission, theme, idea or aesthetic that holds the collection together. Is your collection focused on a particular region? Genre? Mission? Period? Medium? Some combination thereof? How do the parts relate to – and create – the whole? In no more than 1500 words write a narrative that describes the purpose and design of your collection. Be sure to explain the nature of your benefactor: is this a corporate collection, foundation, museum, etc.? You should give the collection a name, which may reflect the nature of the collection, its benefactor etc.
PART II – COLLECTION CATALOGUE
Your collection includes an illustrated catalogue. Once you have completed your catalogue, you will need to produce the following for submission:
Individual Object Reports – For each individual object in your collection, include a detailed catalogue entry which includes all information relating to each piece, including a catalogue note which relates each object to the main theme as well as cross?refers to other objects in the collection. The catalogue words are not counted in the 4,000 limit, but please do not write too little or too much for each object – one page per object is usually sufficient: you should bear in mind that the catalogue note directs the visitor to ways of interpreting the object and the theme. It should not be purely descriptive. Factual details (title, dimensions, provenance etc.) can be copied from e.g. a published auction catalogue, but the more subjective and ‘creative’ catalogue note should be your own work ? if you copy material from another catalogue, it should be referenced. NB Artists’ biographies should only be included if relevant to your collection theme.
You may use JPEGS obtained from vendors or your own digital photographs for your catalogue. Include detail shots of damage, signature, exhibition labels, inventory stickers, etc. where relevant. You may also want to investigate using collections management software, some of which is available as a free download.
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PART III – COLLECTION DISPLAY AND EXPLANATORY TEXT
Using either grid paper or the more three?dimensional google sketchup (or other architectural software), create a display plan: you may use a combination of these if you prefer, and will be marked according to the clarity of your plan, not whether you use the traditional grid plan or the more modern software. You have been provided, free of charge, with a single floor of 375 square metres of floor space (e.g. 25 x 15 metres, or whichever configuration you prefer). The walls are a maximum of 4 metres in height. You might prefer to use open space, or a mixture of closed and open, if your objects warrant this. In no more than 1000 words, you should explain the rationale of your display.
PART IV – COLLECTION EXPENSES/BUDGET WITH EXPLANATORY TEXT
Your own personal fee and expenses are provided by your client for the duration of the period it takes to create the collection, followed by the first three years of the collection’s active life. The budget (capital provided by your benefactor) must cover the following costs, which should be computed and reported using Excel:
? Total market value of works of art;
? Associated expenses (e.g., insurance, shipping, framing, installation,
taxes, customs, repairs, art consultant fees);
? For transportation costs, use Fedex online (Sotheby’s preferred carrier)
? Insurance costs should be based on the following premium scales as
recommended by Andy Mitchell of Hiscox art insurance:
‘As a very rough ballpark:
0.25% of total value for a collection up to GBP 5,000,000; 0.15% from GBP 5m to GBP 10m;
0.1% or slightly lower in excess of this amount.’
This is assuming 2 dimensional art of conventional size.’
‘Therefore, assuming 2D works:
GBP 12k ? premium GBP 250 (effectively a minimum premium) GBP 120k ? premium GBP 750
GBP 1.2m ? premium GBP 2,250
GBP 1.5m ? premium GBP 2,500
Those figures assume static only cover (ie no transits) and are exclusive of insurance premium tax at 6%.’
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‘3?D works: This will depend on medium and location.
Indoor bronze ? 0.25% of value Outdoor bronze ? 0.5% of value Indoor fragile ? 0.35% of value Outdoor fragile ? not really applicable’
? Import/export duties. Percentage costs can be found in the smallprint at the back of any recent Sotheby’s auction catalogue, along with other duties such as resale royalty rights for work by modern/contemporary artists from certain countries.
? Annual Maintenance Budget (including insurance, climate control, conservation, etc.) for the duration of three years.
EXPLANATORY TEXT
Your budget section should also include a text (1500 words max) explaining the rationale of your expenses. It is also important to note the sources of any rates quoted and explain why they were chosen.
GRADING CRITERIA
Grades will be based on a combination of the following factors:
• strength of collection concept and rationale;
• depth of research and collecting efforts;
• thoroughness, detail and objectivity of cataloguing (unacknowledged
copying of earlier catalogues will be penalised);
? rationale of display and use of gallery space;
• accuracy and logic of budgeting;
• overall written presentation (neatness, organization, spelling and
grammar).
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GROUP PRESENTATION
The presentations are scheduled for Thursday 14th and Friday 15th December. (15% of the total project mark)
Groups will be selected according to the assigned budget sectors.
The group list and presentation times will be published during the week commencing 16 October).
FIRST TEAM MEETING
It is the responsibility of each group to organise its first meeting. You will not be able to discuss your analysis areas at the early meetings, because these rely on data gathered by each of you on your individual projects. However, you may find it interesting and valuable to discuss budget issues at an early stage.
At the first group meeting, students should: decide on a team leader; and allocate one of the 4 analysis areas (see below) to each student.
Each student should make their data available to others in the group in order that they can make a comparative analysis of strategies and results for the while group. This should especially analyse variations created by differing budget levels.
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THE PRESENTATION
Each group will have 15 minutes for their presentation, and each student should aim to present their own analysis within 3 minutes, followed by 5 minutes Q&A.
Students must be present at the other group presentations within their own half?day session. Failure to attend the entire session will be penalised.
EACH TEAM MEMBER TO BE ALLOCATED ONE OF THE FOLLOWING ANALYSES (allocation agreed at the first team meeting):
1. Howdidthevariousbudgetsaffectthechoiceofsubjectandobjects (were subject choices driven by budget or did the subject always take priority?).
2. Comparativeanalysisofpurchasecontexts(howmanyfromgalleries, fairs and auctions; how many from abroad?).
3. Comparativeanalysisofdisplayrationales(e.g.arrangement,lighting, wall colours….)
4. Comparativeanalysisofbudgets;(e.g.amountsspentofoverheadsand 3?year projections).
GRADING CRITERIA
? Clarity and conciseness of oral presentations
? Clarity and relevance of visuals
? Cross?referencing to team?members
? Evidence of teamwork
? Attendance/contributions at other team presentations
? Peer review of the team (pro forma to be provided)

 

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