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 Investing in Music  HISTORICAL BACKGROUND  Is there any creative eld where one can unequivocally state the name of its greatest proponent without sparking a discu ssion or argument? Unlike painting, scu lpting, writing or music composition the violin making world has two names that surpass all others.  The very greatest violins ever made all came from one small city in northern Italy, Cremona; all were made between 1685 and 1745 by the members of two families, Guarn eri and Stradivari. Their work stands alone, far above that of their predecessors and indeed any maker since. Stradivar i did not make his instruments for the average musician. His commissions came primarily from the nobility throughout Europe. When we consider that the most important violinists at that time, the Baroque era, were Corelli (1653-1713), Vivaldi (1678-1741) and Tartini (1692-1770) it is staggering to imagine these makers’ constant striving to produce ever greater violins. Their beauty notwithstanding, it would be many generations before the richness, complexity and shear strength of sound would be fully appreciated. It was not until the Romantic era, almost three quarters of a century later, that the unquestionable superiorit y of these instruments to players and listeners was universally acknowledged. Their ability to deliver demanding solo violin music with clarity and great presence in the new concert halls rather than salons made them essential companions to soloists. Niccolo Paganini (1782-1840) was the most celebrated virtuoso of his day. His performances, especially of his own compositions, were legendary and sensationalized by stories of his gambling and extravagant lifestyle. His fame ignited Europe. The violin that accompanied him throughout his life was made by Guarneri del Gesu in 1743. It had been given to Paganini when he was 15 years old and left to the city of Genoa on his death. His violin, known as the “Paganini - Canon”, is housed today in the Palazzo Doria Tursi in Genoa and is rarely heard in concert.  Niccolo Paganini (1782-1840)  PATRONAGE  Paganini was not the rst soloist to be sponsored or to receive patronage, but the impact of his perform ances and those of virtuosos who followed inspired the purchase of many great instruments. Instruments have been loaned to top players and occasionally, as in the cases of Yehudi Menuhin, Jacqueline Du Pre and o thers, even given to th em. Like the “Paganini-Canon”, top instruments are now known by the names of their famous players and owners, including those of various Kings, Princes, Barons, Lords, Dukes, Counts and Earls. When we consider names such as Medici, Napoleon, Rothschild, Wanamaker, Henry Ford and even Louis Vuitton, the idea that these families bought instruments solely as investments is quite unreasonable.

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The patronage of artists has always appealed to Society. Apainter or sculptor might produce an inspiring work that wouldimpress the patron’s friends and colleagues. Likewise, musiccan entrance and seduce huge audiences, keeping them spell-bound with very personal experiences. A solo violin, being soclose to the human voice, can touch the listener on everyemotional level. It is this individual intensity and impact thatmakes the sponsorship and patronage of violinists such aunique endeavor.

VALUE AND APPRECIATION

There are approximately 600 violins by Stradivari and 140 byGuarneri del Gesu still in existence. Of these almost a third arein collections or museums and no longer heard in the concerthall. Many have not survived the ravages of time. Wars,natural disasters and accidents have prompted foundations andmuseums to collect and preserve the better examples. Withfewer instruments available to the ever increasing number oftalented string players, prices have escalated dramatically. Fine examples of violins by Stradivari and Guarneri del Gesurange in price from $3,000,000 to $15,000,000. As their valueshave escalated, so have those of the second and third tiermakers. Musicians’ salaries are no longer in line with

instrument prices, so a young professional cannot even dreamof purchasing one without assistance.

As a new member of the Cleveland Orchestra in the early1960s, Philipp Naegele was told by George Szell that heneeded a better violin. He was newly married, starting a familyand had a mortgage. It was a huge struggle for him to buy theGuadagnini violin that was offered to him – it took him 5 years

to pay for this violin. Rare Violins of New York recently sold this violin for over $750,000 to aFoundation that is loaning it to a concert artist. The thought of an orchestral musician today beingable to purchase such an instrument on only his salary is inconceivable.

SPONSORSHIP

Reasons for sponsoring a musician with the purchase of an instrument can vary. Whether it is for theglamor and satisfaction of helping an individual or simply a means to attract publicity, the motive isusually personal.Sponsoring an individual soloist or concertmaster can be the most gratifying. In 1989 the gentlemanwho was persuaded to purchase the Stradivari for Gil Shaham, instead of another piece of artwork,was told that it would be a great nancial investment. Within the year Gil’s career sky-rocketed andhe was playing to packed halls all around the world. For those who knew this gentleman and sawhim at many of those concerts, it was evident that this investment brought him unexpected pleasureand an experience of unimaginable magnitude. In 1998 a young couple came to New York looking tobuy a Stradivari violin for the concertmaster of theNashville Symphony. The orchestra was celebrating its50 th anniversary and had an upcoming East Coast tourthat included a concert at Carnegie Hall. The couple,who knew nothing about violins, had one objective,namely to create publicity for the orchestra and cultivatesupport for classical music in the city of Nashville.Indeed, their acquisition prompted the purchase of othergreat instruments for the orchestra and eventually thebuilding of its new concert hall. Many orchestras in the US own instrument collections or have the use of great instruments. TheChicago Symphony owns 2 Stradivari violins in their collection, the Los Angeles Philharmonic has 1Stradivari violin and 1 Stradivari cello, and the New York Philharmonic owns 1 Stradivari violin and aGuarneri among their 15 or so instruments. In 2003 the New Jersey Symphony acquired a collectionof 30 instruments in the hope that the enhanced prestige and media attention would build greatersupport in the community and attract new benefactors. However, the timing was wrong and fouryears later, faced with nancial issues, the orchestra was forced to place the instruments for sale.The collection was purchased by two investment bankers who agreed to allow the orchestra tocontinue using the instruments for a minimum of ve years. The most active orchestra purchasing instruments in the last few years is the Mariinsky Theatre

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Orchestra. The conductor and director, Valery Gergievrecognized the urgent need to develop the sound of theorchestra and inspire its players. The initial proposal toone of the Theatre’s wealthy sponsors was simple.Rather than nancing a single ballet or operaproduction for which there would be the eeting acclaimof one evening, he should purchase a great instrumentand establish a permanent endowment. It was a hugesuccess for the orchestra, and inspired a ood of on-going purchases that have amounted to many tens ofmillions of dollars. As the world’s greatest instrumentscontinue to leave the US at an alarming rate, the needto educate and cultivate new sponsors and collectorswithin the US has become critical. The alternative is toface a future that is musically and culturally deprived. In November 2010 the Dallas Symphony Orchestralaunched the Great Orchestra Campaign to raise $50million “to enhance the artistic growth of the DSO and tohelp solidify nancial stability.” Spearheaded by theirMusic Director Jaap van Zweden who personallypledged a substantial amount, the orchestra was wellon the way to achieving their goal within the rst monthof the campaign announcement. The publicized “artisticenhancements” included the hiring of new musiciansand funding for national and international tours. What

has not been publicized is that one of the rst objectivesof van Zweden was to acquire high quality instruments.As a string player himself he is acutely aware of thehuge impact great instruments make on the orchestra,and his enthusiasm with local patrons has inspiredseveral purchases for the Dallas SymphonyFoundation. The Dallas patrons who purchase an instrumentexperience the ideal sponsorship. Supporting anindividual who performs in the orchestra and gives soloand chamber concerts is an immense inspiration notonly for the sponsor and musician, but to fellow

musicians and the community as a whole. Shouldcircumstances change and the instrument needed to besold, the patron would nd that the musical investment was nancially benecial as well.

G.B. Guadagnini, Milan c1750

INVESTMENT

There have been several independent studies on the increasing values of ne stringed instrumentsand all show with great enthusiasm what impressive nancial vehicles these investments can be.

This may be true but there is an equally good reason to purchase…

Bruno PriceRARE VIOLINS of NEW YORK

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