James Tomlinson Hill is One Billionaire who Knows His Art

A person, who buys things but does not intend using them, can be referred to as a collector, but it is unusual for some if people say that they bought it because they enjoyed looking at it. That’s because one of the main purposes of people buying things is to find a way to use them. There are a lot of people who do not see the significance of art collecting.

Creator: Roberto Serra – Iguana Press | Copyright: 2020 Roberto Serra – Iguana Press

For some, it is an investment while for others, it conveys sentimental values to them or to the artist. It is never easy to become an art collector, as most people view it as a hobby for those with abundant money in bank accounts. This leads to the question, “Why is art so expensive?”

A Costly Hobby

Art collectors believe that a major reason for art pieces being really pricey is because of the artist. For instance, if you plan to possess an original art piece by Leonardo Da Vinci, you must have millions of dollars to afford it. This is because Da Vinci is a celebrated painter, scientist and genius in the history of the world. As he died in the fifteenth century, his works are still considered as the most unique art pieces. But there remain millions of artists all over the world waiting to be discovered. This reveals that not every piece of art is expensive, so you need not be intimidated if you wish to start your very own collection.

Passion for Art Collecting

Credit: New York Times

James Tomlinson Hill, the CEO of Blackstone Alternative Asset Management is not only a philanthropic billionaire, but is also a great fan of art with his own art collection that is one of the biggest in the world. As a billionaire, he can easily buy very famous paintings of celebrated artists in history. But he never buys a painting because of the price or the artist. He revealed that he gets goosebumps every single time he looks at a piece of art he likes. The next step is to consider if it is worth looking at, on a daily basis and if it would still give him goosebumps just like when he first saw it. Most art collectors however say that the main reason for their art purchases is that art pieces can be an ideal investment. Their price increases over the years so if selling in auction years from now on, it could be sold for many millions more. However, Hill confirms that a genuine art collector does not see these pieces as an investment. It is something that is considered as a treasure. Short-term traders are rarely true art collectors.

The Art of Art Collecting

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The Blackstone CEO likes to share his collection by letting people see it for free. The public will have the chance to view the greatest works of Francis Bacon, Cy Tombly, Christopher Wool, and William de Kooning at the Hill Art Foundation. Anyone can collect art, as it involves having a vision. According to art experts, start buying a piece of art that is interesting and something that astounds you, whether it’s because of the actual artistry involved or even if you simply love the colors used. There must be that elusive something that makes you want to possess it for yourself.