Philanthropy in the Art Market: Highlights from the PAIAM panel at Boodle Hatfield

On 16 September, we hosted an evening with PAIAM focused on how philanthropy is evolving in the art market - what is changing, why it matters, and the practical steps that help donors and institutions achieve measurable impact.

The panel brought together legal, advisory, and market experts to examine how and why approaches to arts philanthropy are shifting. Donors are now considering not just how much to give, but how to give effectively – balancing ethics, impact, and the challenges of cross-border giving.

The event was organised and introduced by Rosie Larwood, Associate in the Boodle Hatfield’s Litigation team and the chair of PING (the next generation network within PAIAM).

Clare Stirzaker, Private Wealth Partner at Boodle Hatfield, chaired the discussion. The panellists were:

• Anthony Misquitta, General Counsel, Victoria & Albert Museum; Consultant Solicitor (Keystone Law); trustee (Association for Cultural Enterprises; Sir Percival David Foundation of Chinese Art).
• Leslie Ramos, Philanthropy & strategy advisor and Co Founder of The Twentieth; author of Philanthropy in the Arts: A Game of Give and Take (2023).
• Brooke Reece, Associate Director, The Fine Art Group.

What we explored

Panellists discussed how next-generation donors increasingly expect clear evidence of impact. The “philanthropist” label is less important than whether a gift aligns with the donor’s values (such as climate action) and whether there is measurable proof that their support has made a difference. The panel highlighted partnerships like Adobe × V&A’s Creative Residency, which delivers tangible outcomes for young people and schools, as well as new private sector models that combine collecting strategies with charitable goals to maximise results.

Arts institutions face growing ethical responsibilities. The question of “should we take this money?” is more pressing than ever, with ongoing debates around issues like fossil fuel sponsorship. There is increasing pressure to have robust gift acceptance policies and to ensure values alignment. The arts sector is under more scrutiny than many others when it comes to the sources of funding.

International donors remain crucial. The panel discussed structures such as “Friends of” organisations and the V&A Americas Foundation, which make tax-efficient giving possible for supporters based abroad.

Despite the challenges, there are strong signs of confidence in UK arts philanthropy. Earlier this month, the National Gallery announced £375 million already pledged for a major new wing; an unprecedented fundraising achievement. Large-scale donations are important, but smaller contributions also matter. Many people wrongly believe they need to give huge sums to make a difference, but even modest support (such as becoming a museum patron) can have real impact and help people feel part of something meaningful.

The David Bowie Centre at V&A East Storehouse, opening in September 2025, was discussed as a recent example of when philanthropy in the arts works well. It was made possible by a combination of a gift and sale from the Bowie Estate in New York, and a grant from the Blavatnik Family Foundation and Warner Music Group, channelled through the V&A Americas Foundation.

If you would like to discuss your own philanthropic strategy or the themes raised at this event, please contact Clare Stirzaker.