Superyachts have always been risky homes for art collections, and not just because of the damp salt air and constant motion.
“Crew ignorance is the biggest danger at sea” for all types of artworks, says art historian Pandora Mather-Lees. “Often they don’t know the cultural value of the work or its emotional value for the owner.”
Consider the contemporary masterpiece in one superyacht salon: Valued at $110 million, it required expert restoration after the crew roughly wiped it down, not realizing that the cereal on it was part of the painting. Or the Bohemian-crystal sculptures placed in a dishwasher, the $120,000 lamp broken by crew members’ wayward pillow toss during housekeeping, and the $3 million Andy Warhol Brillo Box piece mistaken for cleaning supplies and left in the sun.
Understandably, some owners now display copies or rent originals. “You can lease a piece of art for very little,” according to Mather-Lees. “It works in multiple situations—perhaps for a themed event to create a specific atmosphere, or because the owners are in a transitionary situation.”
Rental is also a natural fit for those who like to switch up their collections frequently or spend just a week or two aboard each year. Others keep the actual collection for their eyes only, and swap in alternatives when the yacht is on charter.
When broker Chris Cecil-Wright gained a listing for a 200-foot Feadship with polarizing pieces on board, he turned to art dealer Tom Craig. “People can react to art in different ways, and this particular collection set the mood of the yacht in a way that was putting off buyers,” says Craig. “We took the art off the boat and replaced it with beautifully framed modern photography.”
Select galleries and museums have rental programs (the inventory available is separate from their collections), and several firms in the U.S. and U.K. specialize in the business, which includes coordinating logistics and insurance. “Art rental allows owners to curate collections that align with the style of their space without a long-term financial commitment,” says Patrick McCrae, CEO of London-based Artiq, which has completed residential, corporate, and public-art projects in 24 countries. Some work is historic, he adds, but most pieces come from emerging or mid-career artists from around the world.
There’s also a “try before you buy” scenario, says Craig. “A superyacht owner can enjoy a boatful of art from their dealer for no cost, if they’re the right customer,” he adds. “There’s a level of trust there, and if the dealer knows they’ll eventually buy one, then you can get a lot of leeway.”
Of course for some, like financier Ken Griffin, whose 308-foot superyacht Viva is decked out in Pollocks, Warhols, and Cézannes, the thrill of having priceless works on board clearly outweighs the potential downsides. Says Craig: “People have some very serious art on their yachts because they like to stand in front of it and tell their guests, ‘This is worth more than the boat.’ ”
