A former finance department executive at Tyco International testified yesterday that he had cleared purchases of works of art for the company's chief executive, L. Dennis Kozlowski, because he had thought the company's board had approved such expenditures.
It has, for example, led to a thorough modernization of the wish list that the White House Historical Association and the curator's office keep — along with the Committee for the Preservation of the White House, appointed by the president — to guide their purchases of works by American artists not yet represented in the house's permanent collection.
The day after the auction the press reported that the House of Lords was considering a proposal for more government aid for the purchase of works of art.
Funds for acquisitions are provided by the Ministry of Culture, which also has the power to block the purchase of works by artists who are deemed by the Communist leadership to be troublemakers.
Since the creation of a national lottery in Britain in the mid-1990'someome profits have been used not only to build or renovate museums, opera houses and theaters, but also to help purchase of works of art that would otherwise have gone abroad.
Seeking to directly support the NGV, Gibson financed the purchase of works by and for the Gallery, as well as making his personal collection available for exhibition.
In a market sense, it is the purchase of works, or a recognition of their saleability, that is the primary factor in raising nonfunctional, possibly decorative objects into the realm of art.
Both developed a passionate love of contemporary art, and in 1916 their efforts to identify and purchase modern paintings had become so successful that James requested an annual stipend of $10,000 from their parents for the purchase of works of art for their growing collection.
He sits in an office dominated by a large portrait of George A. Hearn, donor of the Hearn Funds for the purchase of work by living American artists.
The Modern's acquisition of 1,000 Friedlander prints -- spanning his entire career, from 1950's images to work yet to be made -- was the museum photography department's biggest purchase ever of works by a living artist.
While plenty of them have been good buys (works by Howard Hodgkin and Patrick Heron, both former trustees, were notable bargains), it appears that on occasion the artists even stayed in the room while purchases of their work were discussed.
