Patrons and preservers: The important role of business leaders for the arts

Have you ever wondered why almost every film about important investors, stockbrokers or bankers features works of art in their offices that often appear ugly to the layman, but are all the more expensive for it?

Well, that probably has to do with the fact that this is often the case in real life as well. There seems to be a close relationship between money and art. Or how else do you explain the auction of 's "Abstract Painting," Gerhard Richter which ultimately changed hands for the equivalent of 26.4 million euros at the famous auction house Sotheby's in London?

Never before has so much money been paid for a work by a living painter. When it comes to artists who have long since died, even more staggering sums change hands. For example, the most expensive painting in the world, the triptych "Three Studies of Lucian Freud" by the Irish painter Francis Bacon, sold for $142.2 million.

Every businessperson probably needs a certain understanding of art, whether to recognize and acquire good art or to market their own product.

The importance of creativity is increasing significantly in today's business world, which is particularly evident in the field of visual branding and design. This involves marketing and positioning products in a creative and innovative way.

An entire industry and science is behind this development, with the ultimate goal of making the product appealing to the buyer and, above all, selling it.

Sales psychology, like art, deals with the psychological processes of perception, personal attitude, conviction, and motivation. These insights are used to awaken or create deep and fundamental emotions in potential customers or art lovers.

For example, the typical supermarket customer usually chooses the product that appeals to them most. This decision is largely influenced by the illustration on the packaging, which allows the customer to form an idea of ​​the product.

He rarely looks at the back to compare ingredients and nutritional information. He prefers to make spontaneous, gut-feeling decisions rather than basing his choices on the bare facts.

But businesspeople are not only involved in art and design in this sense. They also actively support newcomers in the art scene. The JJ Foundation, founded by Nicole Junkermann (here on Xing), , and focuses on Latin America and its young artists.

It collaborates with numerous other foundations, including arguably the most important in Spain, the Fundación Montenmedio Arte Contemporáneo (NMAC Foundation). This foundation allows young, unknown artists to hold exhibitions in its renowned sculpture park near Vejer de la Frontera in the Spanish province of Cádiz, which usually leads to a significant boost in their careers.

The focus here is by no means on money, but on exhibiting works that aim to promote communication and understanding within society through art.

Thus, not only does business benefit from art, but the advantages also work the other way around. This intertwined connection between these two seemingly disparate fields appears paradoxical yet perfectly fitting. The business world deals with logical and clear numbers and facts, while art, on the other hand, demands creativity and its vibrant expression.

The boundaries between art and business are becoming increasingly blurred, as these two worlds have long since merged more and more into one another.