Glenn Fuhrman, a renowned art collector based in New York City, shares his intriguing journey into the art world. He candidly admits that the term “collector” didn’t resonate with him initially, and even now, it remains somewhat elusive. This narrative unfolds in a YouTube video titled “it was a very long time before I really even thought of myself as a collector,” where Fuhrman provides a glimpse into his passion for art.
From Finance to Fine Art
Fuhrman’s path to becoming an art connoisseur was unconventional. His academic pursuits led him to study finance at the Wharton School of Business at the University of Pennsylvania. However, during his freshman year, he stumbled upon an art history 101 class and discovered a newfound love for the subject. Despite graduating with a finance degree, Fuhrman took a remarkable 11 art history classes, a testament to his burgeoning interest in the art world.
His professional journey began at Goldman Sachs, where he spent a decade before co-founding MSD Capital, a wealth management firm for Michael Dell, the founder of Dell computers. After 23 years at MSD Capital, Fuhrman embarked on a new venture, True Arrow Partners, a wealth management platform catering to families worldwide, specializing in alternative asset classes.
Building a Collection: A Personal Philosophy
Fuhrman’s approach to art collecting is deeply personal and not driven by investment motives. He emphasizes buying pieces that resonate with him on a personal level and that reflect the contemporary world he inhabits. Early in his collecting journey, Fuhrman lived in a one-room studio apartment, amassing a collection of 50 to 75 artworks in that limited space.
He also developed a unique philosophy: buying art from established artists. His reasoning stemmed from the fear of job loss and the potential need to sell his collection. He believed that artworks by established artists would retain more value than those by lesser-known artists.
A Passion for Contemporary Art
Throughout his collecting journey, Fuhrman has primarily focused on contemporary art. He has had the privilege of interacting with many artists whose works he has acquired, adding a personal touch to his collection. He vividly recounts a story about a dealer who offered him a large red Richter painting. Fuhrman, initially hesitant due to the price, was persuaded to live with the painting for a week. The experience solidified his love for the piece, and he eventually purchased it.
Art as an Asset Class: A Data-Driven Approach
While Fuhrman’s art collection has undoubtedly appreciated, he emphasizes that his motivation has never been investment-driven. Nevertheless, he acknowledges the robust demand for art globally and the limited supply, which have contributed to the appreciation of art as an asset class. Fuhrman highlights Masterworks, a platform he has invested in, as an example of a data-driven approach to art investment. He commends their analytical approach to selecting artworks, which has proven successful.
The FLAG Art Foundation: A Platform for Contemporary Art
Fuhrman’s passion for art extends beyond personal collecting. He founded the FLAG Art Foundation 15 years ago as a platform to showcase contemporary art. The foundation, which doesn’t exhibit pieces from Fuhrman’s collection, features curated shows by various curators and artists, offering a diverse range of perspectives. The foundation has hosted exhibitions curated by notable figures like Shaquille O’Neal, Jim Hodges, and Eric Fischl, enriching the art landscape.
Advice for Aspiring Collectors
Fuhrman’s advice for aspiring art collectors is to expose themselves to as much art as possible. Visiting museums, art fairs, and galleries can help individuals develop their tastes and preferences. He emphasizes the importance of seeing art one doesn’t like, as it helps clarify what truly resonates with them.
Conclusion
Glenn Fuhrman’s journey as an art collector is a captivating blend of passion, personal connection, and a deep appreciation for contemporary art. His story underscores the significance of collecting art that speaks to one’s soul and the fulfilling experience of supporting artists and curators through initiatives like the FLAG Art Foundation. Whether you’re an avid collector or simply an art enthusiast, Fuhrman’s insights offer a valuable perspective on navigating the art world.
Source:
- YouTube video: Inside Glenn Fuhrman’s ‘Top 200’ Art Collection
- Masterworks: https://www.masterworks.io/
- The FLAG Art Foundation: https://flagartfoundation.org/
