Patronage, business and the value of art: the corporate arts sponsorship of Absa bank and Hollard insurance
ABSTRACT This report is a study into the corporate sponsorship of art as is evident in South Africa today. Starting with a history of patronage in the West, it leads to South Africa and the role currently being played by South African companies in the art world. Through an examination of South African patronage by the government and direct interviews with individuals involved in government and corporate sponsorship of the arts, this report endeavours to show how and why organisations such as Absa Bank and Hollard Insurance have chosen to involve themselves in the art world. I will then follow on to discuss the effect that this corporate sponsorship has on the value of art – financially, socially and culturally. The end result will be study on the relationship that exists between the benefactor and the beneficiary of corporate sponsorship in South Africa and the resulting impact this has on the perceived value of art.
art patronage , value , corporate sponsorship , investment art , corporate collections , Absa , Hollard