With corporations pinching their pockets in the wake of the economic recession of 2009, it stands to reason that commissioning expensive works of art would be the furthest thing from corporate minds. But the demand for highly specialized, one-of-a-kind commissioned artwork has actually increased, and experts think they know why.
According to an article by Christopher Michaud, a unique work of art can serve as a brand-building technique for an organization, used to set itself apart from competitors. Previously seen as a charitable act and a civic duty, the commissioning of unique artwork is now seen as a marketing strategy and a way for a corporation to build its public image.
According to Amy Cappellazzo, Christie's' international co-head of post-war and contemporary art, businesses like hotels and restaurants are particularly interested in the commercial gain associated with commissioned art. For example, the hotel chain Sage Hospitality is filling its guest rooms with the work of local artists in an effort to “tie [art] into their style and interior designs.”
Corporations are also starting to pay closer attention to the payoff of commissioned works, which can be significant. Two years ago, the New York Public Art fund commissioned a project called “Waterfalls,” a $15 million project in which man-made waterfalls were installed in the East River for four months. At the conclusion of the project, experts estimated that it had brought $70 million to the local economy— more than four times its original cost.
However, despite the new interest from corporations in highly specialized works, there may be hard times to come for artists who rely on these commissions.
As Michaud writes, “A more far-reaching impact of the recession is likely to be felt on U.S. art commissions in the years ahead, experts note, because a commissioned piece can take years to complete after money is allocated. A lack of funding now may mean less art later.”
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