Many connoisseurs share the following complaint: art is purchased at auction, shipped to Switzerland, and stored in a private Swissport, only to never be seen again.
Why does this matter?
Because it defies the conventional wisdom of ownership. We buy things to experience them—to see them, use them, or show them off. Art, in particular, is supposed to be looked at. So why do some of the world’s most valuable paintings spend lifetimes in tax-free storage, untouched and unseen?
You could argue it is for investment purposes, and you would be right, at least partially. Art tends to appreciate in value, and the freeports of Geneva offer a loophole—no taxes, no duties, no prying eyes. But let’s abstract from that for the moment. Let’s see art not as an asset that is not merely financial but also psychological.
There is a benefit to owning things no one else sees or knows about. And the benefit is that we know about their existence in our possession, and that shapes who we are and how we think about ourselves.
Imagine wearing Ferrari-branded underwear. Or even Agent Provocateur. No one sees it. No one knows. But you do. The logo, the materials, the craftsmanship, and the sensations it arouses exist solely for you. It’s a secret indulgence.
Now imagine a slightly different scenario. Say, for example, that you have a Picasso locked in a crate and buried in a Swiss warehouse. You also have a few drawings by Parmigianino and a sculpture by Giambologna. These are not shown or enjoyed, as most purchases would be. But they are in your possession, and they nonetheless reflect who you are.
That’s a fascinating part of our psychology. The idea that existence/ownership, in itself, is enough. That mere possession carries meaning and reflects the self, even if the thing possessed is hidden from the world.
Where is the utility in that, you might ask?
It lies in the satisfaction of owning something valuable entirely for the sake of personal fulfillment, without the need for external validation or visibility. We don’t recognize this enough, and maybe we should do more of it. Maybe.
If you were going to own something for the sake of ownership, what would it be?
Irrationally yours,
Dan Ariely
