Page 105 - Studio International - July August 1975

reality, rather than just a Green works of art would transfer from This problem arises because a formal value might be given a
Paper proposal.) exclusively private to public work of art (particularly, a greater importance. To put this
(iii) Those owners having no venues. painting or a sculpture) creates another way, the tax will not be
existing facilities for public The argument about access is, two kinds of value. On the one in the interest of those who trade
exhibitions, and no possibility of of course, largely dependent on hand, it makes (or perhaps fails to in works of art, who buy, sell, or
creating them within their existing the Government adhering to its make) anaesthetic contribution: privately amass them in great
premises, might, in certain cases, proposal to provide some form of that is, it has a meaning which quantity. It will, however, be in
seek in collaboration with others cushioning, through deferment of may be realized in the context of the interests of those who wish
to establish new venues for the the tax (with or without visual perception. On the other freely to enjoy them. By reducing
purposes of public exhibition. exemption from the interest hand, the majority of works of the association between the visual
Once again, there are already accruing on deferment) during art are also marketable arts and great wealth, the tax
indications of developments of such time as the work is on public commodities. These two kinds of would also give further impetus
this kind taking place solely as a display. Some such cushioning value may be described, to the tendency for the visual arts
result of the discussion about the therefore seems desirable. respectively, as formal value and to appeal to a constituency
possibility of the introduction of However, it would also appear to exchange value. The exchange beyond that of their traditional
the tax. be necessary to define rigorously value of a work of art differs boundaries. Those who are
(iv) Other owners will offer what constituted public display. radically from, for example, the interested in art, or who are
works on loan to national and If too flexible a definition of this price of a book of poems, a potentially interested in it, would
provincial museums, and to was accepted, many of the cultural novel, a record or a theatre benefit considerably from the
other collections to which the and social benefits which the ticket. Art objects — such as application of the Wealth Tax to
public has access. Wealth Tax could create might be paintings or sculptures — tend to works of art: the tiny minority
The Green Paper proposes that lost. be unique. Their exchange value who have an interest in treating
the Wealth Tax should be applied (B) Weakening of the excessively bears no relationship to the cost works of art as a means of
only to those assets held by strong relationship between art of their production, and does not acquiring capital assets would
individuals whose total wealth is and private wealth necessarily bear much not.
£100,000 or more. According to Historically, there has been a relationship to their formal value
the Government's figures, such a close association between either. In so far as it is an (C) Dangers of exemption
measure would affect rather less privately owned wealth and the exchange value (rather than the Assuming that the Government
than 1 % of the adult population. visual arts. One of the results of embodiment of a formal value) introduces a Wealth Tax in respect
Of this tiny minority, some are the old system of private the work of art is a portable of these individuals whose other
owners of important works of art patronage and private collecting capital asset. The exchange value assets exceed £100,000, it is
which cannot, at the moment, be which dominated from the of an art object depends largely on undesirable that an unconditional
seen by the public. If the Wealth sixteenth to the early twentieth contingent factors such as exception should be made in the
Tax proposals were implemented, centuries was that painting and fashion, publicity, and rarity case of works of art. The
this very small number of sculpture tended to be relatively relative to other comparable resulting shift of capital into the
privileged collectors would be exclusive and élitist activities objects. art sector would not only
given reasonable fiscal appealing to a very small Manifestly, it is in the material disfavour other potentially more
encouragement to share the constituency indeed. This interest of those who buy, sell, and productive forms of investment,
enjoyment of them. The Wealth naturally tended to inhibit the extensively collect works of art to but would lead to wholly
Tax would thus play an potential popular interest in the try to increase the exchange value disadvantageous distortions
important part in creating a visual arts. They were looked of those objects in which they within the visual arts themselves.
situation in which the visual arts upon (with good reason) as a have an interest. In a situation in The 'special relationship' between
could be more widely seen and pleasure available only to the which the association between art art and private wealth discussed
appreciated than ever before. This wealthy. However, during the last and private wealth is excessively in (B) would be strengthened at a
would not only be socially and fifty years, this state of affairs has strong, the tendency therefore time when it is socially and
culturally beneficial, but would be changed considerably. The arises to confuse formal value and culturally desirable that it should
in line with the policies of national and provincial museums exchange value. That which a be further weakened in the
successive governments in respect have made original works of art work means, or 'says', is interests of democratizing the
of the arts. Such policies have available to a far wider section of underestimated : that which it is, visual arts.
been designed to encourage the the community. Through the eg 'a priceless original', is This view is even shared by a
relative diminution of exclusive medium of the Arts Council, the over-emphasized. In its most number of highly successful
private ownership in favour of State has emerged as a significant extreme manifestations, this dealers in art. In The Times
public display. patron and promoter of the visual distortion leads to the attribution recently, John Kasmin, a member
It also seems reasonable to arts. Advances in the mechanical of greater importance to the fact of the Society of London Art
suppose that the application of means of reproduction — of possession, rather than to the Dealers, was quoted as saying: 'I
the Wealth Tax to works of art specifically in printing, capacity of an image to function know that several dealers,
would substantially increase the photography, and television — within the context of the including myself, do not consider
number of objects sent for sale in have further extended the perception of those who view it. a Wealth Tax an unjust
the auction houses and interest in, and appreciation of, The effects of this distortion proposition ... If there is a Wealth
commercial galleries. At the the visual arts far outside their extend far beyond the immediate Tax, it must obviously apply to
moment, prices in most sectors of traditional boundaries. confines of the art market. For works of art. If it did not, how
the art market are relatively However, despite this progress, example, art scholarship and should anyone choose to invest in
depressed. There are indications the continuing 'special museum catalogues often give far the stock market? ... Since the
of a marked reaction to the relationship' between art and greater importance to provenance aim of the Wealth Tax is to
excessively inflated price levels private wealth is still a matter of and identification — factors which distribute the nation's wealth
of the last 20 years. This grave concern among art determine exchange value — than more fairly, we should read its
phenomenon appears to be historians, critics, and producing to. the meaning of the image in application to the art work as a
global and cannot therefore artists themselves. Many are question. A record price fetched means of distributing the
solely be attributed to reticence convinced that the influence of by a particular painting in the enjoyment of works of art more
until the Government's Rrivate wealth over the auction rooms will appear on the fairly.'
intentions in respect of the exhibition and production of front page of the national press, In public statements made in an
Wealth Tax become finalized works of art ought to be further whereas the opening of a major attempt to refute the idea that an
Among the factors influencing the diminished if art is to play its exhibition of the same artist's undue proportion of investment
situation are the overall economic fullest possible role within society. work in a national museum would capital would shift into the tax-
climate, and the erosion of the For example, the strength of the not. free haven of art, should it be
belief that art necessarily existing association between art Of course, whether or not a exempted from an otherwise
constitutes a 'gilt-edged hedge and private wealth continues to Wealth Tax is introduced, works universal Wealth Tax,
against inflation.' The arrival of inhibit the achievement of the of art will continue to have an considerable reference has been
an unusually large number of fullest possible interest in the exchange value. But, since the tax made to the experience of other
objects on to such a market would arts, and the democratization of would diminish their investment countries. But such arguments
almost inevitably cause prices to the means of access to the works potential, it could lead to a ignore the fact that the
drift downwards still.further. As a of art in this country has failed to desirable adjustment in the Government is proposing that
result, the museums and other keep up with such extension and `special relationship' between art special arrangements should be
public collections, which work on growth of interest in the visual and private wealth. The present made in the case of works of art
heavily restricted purchasing arts as has already occurred. The excessive emphasis on factors on public display; the distinct
budgets, would find that their implementation of the Wealth Tax determining, or determined by, economic situation in Britain; and
allocations went further than would lead to beneficial exchange value would be likely the widely acknowledged
before. In this way, too, more adjustments in this situation. to be reduced. Consequently, reticence of those owning capital
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