Saturday, November 2, 2013

Elton Among Top 25 Entertainment Industry Art Collectors

Global pop superstars makes tons of cash, and since there are only so many mansions and cars you can buy, it’s no wonder that some of them sink their fortunes into art. The Hollywood Reporter has created a list of the entertainment industry’s “Top 25 Art Collectors,” and Elton John and Madonna are both on the list.


According to The Hollywood Reporter, John and his partner, David Furnish, have acquired what’s considered to be one of the world’s most important collections of photography, from legends like Irving Penn, Herb Ritts, Richard Avedon, Man Ray and David LaChappelle — who helped design Elton’s first Vegas show, The Red Piano. One Man Ray image that Elton bought in 1993 for $193,000 is now worth nearly $2 million.

As for Madonna, according to the publication, she got her art start in 1987, when she paid a million bucks for a painting by renowned artist Fernand Leger. Since then, she’s amassed more than 300 works, from big names such as Salvador Dali, Maxfield Parrish, Frida Kahlo, Damien Hirst and Man Ray. In 2000, she paid $4.7 million for a Pablo Picasso work, and her collection was appraised at more than $100 million in 2008. This year, she auctioned off one of her Legers for more than $7 million and donated the profits to support girls’ education in Afghanistan and Pakistan.

Other musicians who are on The Hollywood Reporter’s list include rappers Jay-Z and Sean “Diddy” Combs, as well as songwriter, producer and rapper Pharrell Williams.

- Classic Hits and Oldies

John may be better known for his Grammys than his (Andreas) Gurskys, but the musician, with his husband, David Furnish, has amassed one of the world's most important photography collections, with an emphasis on portraits, celebrity and fashion.

First exposed to Horst P. Horst's erotically charged fashion portraiture, in 1993 John went on to collect Man Ray's Glass Tears, acquired for a record-setting $193,000 (now worth closer to $2 million). Favorites include seminal artists such as early innovators Andre Kertesz and Edward Steichen and portrait masters Irving Penn, Herb Ritts, Richard Avedon and David LaChapelle.
Through Sir Elton's continued involvement in the art world (in particular, his high-profile charity auctions), the singer broadened his interests to include new classicists Tracey Moffatt, Gilbert & George and art-world wunderkind Ryan McGinley.

- Hollywood Reporter

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