Why Fund Raisers Should Pay Attention to a Donor’s Art Collection

The philanthropist Ronald Lauder once said there are three categories of art: “Oh,” “Oh my,” and “Oh my God.” He only collects the latter.

And that’s the “OMG” prospect researchers should pay attention to, says Linlin Chen, a research analyst at the University of Chicago, in a presentation at the annual meeting of the Association of Prospect Researchers for Advancement, which is under way in Anaheim, Calif.

When trying to identify potential donors, it couldn’t hurt to do a bit of digging about what art they’re collecting. It’s an important indication of wealth and provides insight to a prospective donor’s interest, useful when starting a conversation and engaging donors at the cultivation stage. Such prospects tend to give to research programs, exhibitions, lectures, or institutions that house or show their art collections.

While there aren’t easy ways to track and determine the value of art collections, researchers can glean an estimate of say, a painting, through auction databases, art catalogs, news coverage, anecdotal evidence—even court documents. The Bernard Madoff scandal alerted the public about the $37.5 million in fees art dealers received on 10 Mark Rothko paintings that were sold, Ms. Chen said.

Sales-price databases such as Sotheby’s online, Christie’s online, ArtNet, ArtPrice, Findartinfo, and ArtValue can help, as well as the Mei Moses Fine Art Index.

Ms. Chen says she noticed a prospective donor lending a piece of his Asian art collection to a small exhibit in a South Carolina museum. The University of Chicago had tried to interest him to be a donor previously but was unsuccessful. But once she informed fund raisers of his interest in ancient Chinese art, the donor was informed of a potential exhibit that would feature his collection. His interest was piqued.