I was amused by a recent blogpost about the ING Art Collection. Somehow I did not get no further clue what the connection between banks and artists is other than what I knew already but wasn’t said in the post : The artists want the money and the banks want public relation.
What I understood was that the blogpost functions as public relation for the bank and that for some reason the parallels between banking and art or art market were not touched at all: for example highly speculative profits, non transparent price and profit manipulation.
Today I found another piece of evidence why artists should not stay away from banks and their lucrative sphere of influence. Perhaps I should burn a drawing of Deutsche Bank and auction it on Ebay? I certainly could ship that domestic!
If that is not enough you can read what the NYT says about the correlation between art and banking