The holdings of those individuals and organisations increase through purchases and commissions, whereas the artistic assets in our public institutions are enlarged through gifts, bequests, and purchases from the artists directly, galleries, dealers and auctions. Some artworks might be commissioned, giving a voice to particular communities, in contrast to collecting programmes which can focus on current events to capture our present age such as MeToo, BLM, Extinction Rebellion and the Covid-19 pandemic. Depending on the type of collection, excavations are another method through which objects can enter the museum collection. Furthermore, there is the Acceptance in Lieu scheme, an arrangement only available in the UK to British taxpayers, where individuals who are liable for inheritance tax or estate duty can offer assets in part or whole payment of that liability. Once approved by an expert panel, the Capital Tax Office and Secretary of State, objects of pre-eminent importance on the grounds of their national, scientific, historic or artistic interest are offered to a specific British institution.
Carrying out due diligence to ensure the artworks or artifacts are not contravening any international illicit trade conventions, as well as provenance searches and fulfilling the latest anti-money laundering legislation are of paramount importance.
An ongoing programme of new acquisitions guarantees that collections remain relevant to future generations.
Image: © Renée Pfister Art & Gallery Consultancy 2021.
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