By Sonia Stubblebine
Due to the crisis and uncertainty that British Airways faces because of the coronavirus pandemic, the company puts its renowned art collection for saleThe British Airways collection include works of prominent artists such as Anish Kapoor, Tracey Emin and Chris Ofili, with some of the works being valued for more than £1m.
The British Airways collection presents works of mostly British artists and focused initially on artists early in their careers. The collection significantly increased in its value over the last decades. It was created thanks to the help of London-based curators Artwise, who worked with British Airways for 17 years until 2012. During this time period over 1,500 works were purchased for the airline company. These artworks were displayed in firm’s Waterside headquarters near Heathrow and walls of its executive lounges. The most valuable piece of the collection is believed to be by artist Bridget Riley – it is expected to raise millions for the airline.
The sales are going to be organized with the help of Sotheby’s Auction House. The main objective that British Airways is holding for the current sales is to save as many work places as possible and to keep their stuff.
Due to the lockdown and cancelation of all the flights, the airline sector has major changes and faces one of the largest crisis in its entire history, calling for brave ways to solve present and upcoming issues. Today, due to the black swan event, majority of companies are facing radical changes and losses, needing to monetize all their assets in the most effective and quick way. FIMART by Look Lateral is a perfect solution for monetizing corporate art collections, providing companies with liquidity and allowing most of the companies to survive and live till the better times.