Allow me to begin by saying…
I believe we are witnessing important transitions in money and culture. The most immediately observable change happening in culture is unsurprisingly in art. Maybe I am crazy and we are in fact just collecting meaningless internet beanie babies. Or maybe the patterns we recognize throughout history aren’t coincidences at all and we should pay more attention when things start to get all deja vu(y).
Below I will quickly explore the contributions of one man and how we may learn from him as collectors and radicals.
The man who saved Impressionism
I don’t even have to know you to know that you are probably familiar with at least one name on the list below:
Some of you may even be able to tell me why these people are important and what “group” they belong to (despite my hints). But to make sure we are all on the same page allow me to add some color.
The seven names above belong to some of the members of the “Impressionists”, a group of artists in late 19th century France who became famous for their style of painting. Nowadays the names on this list and their respective creations are universally regarded as some of the most important to ever exist, but this was not always the case. In the late 1800s, the French art establishment was not keen on the impressionist style as it violated the rules of academic painting. This rejection forced the group to look inward for the support needed to debut their work. Luckily, the impressionists had a well-financialized and staunch believer amongst their ranks.
Enter in - Gustave Caillebotte.
Caillebotte was an upper-middle-class Parisian who has been classified as a polymath due to his noted interests and works in art, engineering, law, and botany. Loaded with his family’s wealth, Caillebotte was free to focus on his art and supporting the impressionist movement that he strongly believed in. There are some iconic pieces that Caillebotte contributed to the time period but he is mostly known for his financial role. Left without support from the art establishment in France, the impressionists relied on individuals like Caillebotte to fund and organize their exhibitions. In addition to the funds provided for the group, Caillebotte was an early collector and even covered some studio expenses for his close friend Monet. We could stop here and there would be no question as to how Caillbotte contributed to the success of Impressionism but simply collecting and paying for things was not his only contribution to culture. Gustave Caillebotte was a true patron of the arts.
Provoked by the premature death of his older brother, Caillebotte took it upon himself to draft his will at an early age (mid-twenties). In his will, he donated all of his collected works (68) to the State of France, and the donation, which would come to be known as the Caillebotte Bequest, had a couple of conditions. First, was that all of the paintings be accepted together. And the second was that all of the paintings must be hung in French State Museums, with the Louvre being specified. At this point in time, the French government was used to selecting their own pieces for their collection and did so without collecting more than one painting from each artist. Caillebotte’s Bequest both included multiple paintings from each artist and would strip the French Government of their autonomy when selecting art for their collection, these conditions combined with their distaste of the style led the State to reject the Bequest for many years. After much negotiation, the executors of Caillbotte’s estate (his younger brother and Perre-Augste Renior) reached a deal with the French state to accept 38 of Caillebotte’s paintings. All of these belong to the seven artists that have been listed throughout this article and all are still the centerpiece today for the Musée D’Orsay in France.
Lessons Learned
I can’t help but notice the similarities between the Impressionist movement of the late 19th century and what’s happening in art and culture today. Those of us in the space are all a bit like Caillebotte in that we feverishly collect pieces during a time that we think is important, all in the face of the establishment condemning our actions. Lucky for us the key difference here is that it’s not just the style of the times that are changing but also the medium of how it’s shared, created, stored, and financialized. This confluence of innovation logically creates a much larger and more liquid opportunity for any well-situated investor/collector. Hence my overt bullishness.
The thing I find the most fascinating about Caillebotte, was his ability to recognize the culturally significant people and works around him in real-time. Most of us think about art and culture in a historical fashion, as in, its a flash in the pan and then we laugh about and enjoy it later. But every so often someone with an eye for culture comes along and helps steer us in the right direction. Caillebotte’s story should inspire any serious collector to have a shameless and undying belief in what they’re collecting. I emplore you to undertake this activity with caution and responsibilty but never forget that those stewards of culture were always characterized as fools before their rise. Jpegs might be silly (in some ways I think this is the point) but our world is becoming increasingly digital and our culture will follow suit - this I am certain of.
Maybe it was hubris and not some divine understanding of art that drove Caillebotte to curate some of the finest art in the world. Either way, keep collecting. Who knows - your MetaMask may be the future’s equivalent of Caillbotte’s attic.
Note to readers: I have a couple more memer research pieces coming up as well as some dives into more investor/collector topics on deck. Stay tuned!
P.s. Please excuse typos I am my own inter.
P.P.S. If you enjoyed this please share and subscribe! Thanks for the support mfer!
Gustave Caillbotte Paintings
Sources:
https://www.britannica.com/biography/Gustave-Caillebotte
https://www.christies.com/features/10-things-to-know-about-gustave-caillebotte-11849-3.aspx
https://www.brooklynmuseum.org/exhibitions/caillebotte
https://johnpwalshblog.com/2013/04/12/the-tricky-business-of-the-caillebotte-bequest/
https://frenchquest.com/2012/09/07/impressionism-gustave-caillebotte/