
Clips from an excellent article over at (first click for free, don't worry!)
FT.com: "Much derision has been sparked by Damien Hirst’s exhibition No Love Lost – Blue Paintings at the Wallace Collection in London, with critics branding it “dreadful” and “a stupefying admission of defeat”.
And some of the censure has been reserved for the Wallace, one of London’s best-loved museums, for putting on the show at all, because of the commercial nature of the deal. Hirst contributed £250,000 ($417,000) to the Wallace, and this led to accusations that the Wallace chose to show Hirst for financial reasons and not for curatorial ones. “Damien Hirst paid for the costs of the exhibition to ensure that entrance to the exhibition remained free without the Wallace Collection needing to find a corporate sponsor in these difficult economic times. He covered the costs of the installation of the exhibition and the refurbishment of the galleries as well as the majority of the marketing and advertising,” said director Dame Rosalind Savill in a statement.
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Publicly funded museums and galleries have a mission to display and conserve works of art for aesthetic, art historical and educational reasons. The market, on the other hand, seeks to maximise commercial value, and is only too aware that exhibition in a well-known institution brings recognition, validation and a potential boost in prices for the artist’s work.
But faced with rising costs and diminishing resources, museums have no recourse but to turn to dealers and collectors for loans and sometimes funding for their exhibitions. “Today, no curator can afford to be ignorant of the market. If you are, you will soon learn a hard lesson when you try to mount an exhibition by a ‘hot’ artist,” says Sandy Nairne, director of London’s National Portrait Gallery. “Either you will find it very difficult to secure loans, or you may come under pressure from collectors or dealers to include particular works.”
This means that galleries help fund exhibitions in public institutions of their artists, picking up the bills for insurance, shipping, catalogues and so on. “No public gallery is obliged to accept financial support from commercial galleries,” says Julia Peyton-Jones, director of the Serpentine Gallery. “However, support for specific expenses such as transportation does form a legitimate part of some galleries’ fundraising income.”"