The Changing Face of Art and its Collectors

Our present-day world is more international and hosts unbounded connections that were never even thought to be possible before. In addition to creating new cultural phenomenon and an abundance of transatlantic dealings, a new brand of multi-millionaire and billionaire wealth with top dollars to spend have heavily influenced the art collector community. This era of affluent moguls, celebrities and philanthropists are venturing out from their typically expected purchases of real estate and businesses to engage in the arts.

All around the globe, collectors are springing forth and staking claims on a variety of artworks; from Adrian Cheng in China to Germany’s Frieder Burda and Russians Roman Abramovich and Dasha Zhukova, the face of the modern art collector is changing. Another prominent collector, American Adam Sender, amassed an intense assortment of pieces and recently decided to part with about half of his art treasure.

Sender began procuring his collection in the late 1990s. A graduate of the University of Michigan with a History degree, he was previously employed at SAC Capital Advisors LP as a Portfolio Manager, he later left the company and founded Exis Capital Management in 1998. Serving as the CEO of his own hedge fund, Senders used the same passion and discerning eye on his business growth as he did in the acquisition of artists’ works. As Sender himself has noted, “I know that I have a good eye, and I use it to buy what I know.” Prior to launching the sale of parts of his collection, it was estimated that the over 1,000 pieces he owned garnered a value of over $100 million. Adam Sender’s Instagram is linked here.

Although Sender has proven his eye for beautiful and quality art, a vast portion of the pieces he’s purchased were obtained through the assistance of art adviser Todd Levin. The sale of his works began on May 14, 2014 and initiated an 18-month auction; 400 works are being offered and about $70 million is anticipated to be the total value of the cost of the pieces. Featuring 139 artists, the Sender collection hosts a variety of creativity and allure. While an ample selection of art is being sold, Sender donated some of his largest works to museums. Works such as Vito Acconci’s Other Voices for a Second Slight are included in his donation. Sender’s grand exchange of artworks indicates that just like the face of art collectors is constantly changing, so is the art itself. Adam Sender also was discussed by BusinessInsider.

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