The late Silvio Berlusconi, former Italian Prime Minister, media mogul, and billionaire, has left behind an extensive art collection that is now causing headaches for his heirs. Silvio Berlusconi, who passed away in June, amassed a staggering 25,000 artworks during his lifetime, but one of Italy’s prominent art critics, Vittorio Sgarbi, has publicly ridiculed the collection as “largely croste, poor quality works of little to no value.”
Many of these paintings and sculptures were acquired through late-night telesales programs, a far cry from the elite galleries and dealers where he once made higher-quality acquisitions.
Berlusconi’s eclectic collection, which is estimated to be worth around €20 million (£17.4 million), is housed in a massive 3,200 square meter (34,400 square foot) warehouse near his mansion in Milan. According to reports by La Repubblica, the collection encompasses a diverse array of themes, from Madonnas to vivid images of naked women and cityscapes of Paris, Naples, and Venice.
Despite its vastness, the collection has failed to impress Sgarbi, who went as far as to suggest that only “people who know little about art” might find any pleasure in viewing the works. Sgarbi believes that out of the 25,000 pieces, only a meager six or seven have any artistic value.
The monetary value of the entire collection averages out to approximately €800 per painting, a stark contrast to Berlusconi’s estimated net worth of €6 billion at the time of his death. His main residence featured higher quality works by renowned artists such as Titian and Rembrandt.
Cesare Lampronti, a London-based art dealer who had a close association with Berlusconi for three decades, shed light on the former Prime Minister’s art-buying habits. “He liked to buy portraits of women he gave as gifts to friends. When he was younger, he bought at galleries and from dealers, but later in life he bought from TV auctions. He knew what he was buying was worthless,” Lampronti disclosed.
However, the real challenge now lies with Berlusconi’s heirs, who are burdened with managing the extensive and less-than-illustrious art collection. The warehouse alone costs approximately €800,000 a year to maintain, a significant financial commitment. Additionally, woodworms have infested parts of the collection, causing significant damage. In some instances, the cost of eradicating these pests exceeds the value of the paintings themselves, adding further stress to the management of the inherited collection.
As Berlusconi’s heirs grapple with the dilemma of handling his colossal and criticized art collection, the legacy of a larger-than-life figure takes on an unexpected twist, with the value of his art being questioned long after his passing.