{"id":72276,"date":"2015-02-06T00:01:00","date_gmt":"2015-02-05T21:01:00","guid":{"rendered":"https:\/\/art50.net\/on-collecting-and-legal-aspects-of-art-market-in-turkey-with-mehmet-ali-bakanay-2\/"},"modified":"2025-11-08T15:16:31","modified_gmt":"2025-11-08T12:16:31","slug":"on-collecting-and-legal-aspects-of-art-market-in-turkey-with-mehmet-ali-bakanay","status":"publish","type":"post","link":"https:\/\/art50.net\/en\/on-collecting-and-legal-aspects-of-art-market-in-turkey-with-mehmet-ali-bakanay\/","title":{"rendered":"On Collecting and Legal Aspects of Art Market in Turkey with Mehmet Ali Bakanay"},"content":{"rendered":"\n
<\/div>\n\n

Mehmet Ali Bakanay is a law practitioner, collector and one of the consultants of Art International. In addition to being active in the artworld as an artlover and collector, he has the opportunity to closely watch legal aspects of the art market. We had a fun conversation with Bakanay on topics ranging from his art collection to the artists he follows, from existing cultural laws in Turkey to the art world ecosystem. Bakanay\u2019s point of views on art and the legal aspects of the art world will be intrigue the art lovers. Happy reading!<\/p>\n\n

<\/div>\n\n

You lead a wide-ranging lifestyle that includes both art and law. Could you briefly tell us about yourself? How did your interest in art came about? \n<\/strong><\/p>\n\n

<\/div>\n\n

After completing my masters degree in New York University (NYU) law school, I completed my Ph.D. in Law Faculty of Amsterdam in the subject of copyrights and brand patent law. Currently, I am one of the partners of an international law firm. Moreover, I am on the board of directors of a group of communication companies called Rekigroup. I am also a member of art jurisprudence Platform in International Bar Association. For two years now, I am on the board of directors of Art International Fair. (AI)<\/p>\n\n

<\/div>\n\n

I have been buying pictures, drawings and prints of my favorite artists starting from an early age. Or I would ask my family to give these to me as present. Eventually, as I got older, this started to transform into a more conscious collecting. Starting on 2005, I started buying in a more serious way.<\/p>\n\n

<\/div>\n\n

What does your art collection signify for you?\u00a0What are some of the artists you would like to add to your collection? \n<\/strong><\/p>\n\n

<\/div>\n\n
\"Mehmet<\/a>
Mehmet Ali Bakanay<\/figcaption><\/figure>\n\n
<\/div>\n\n

My collection expresses me in fact\u2026In consists of certain excerpts from my life\u2026 That is why it is unique to me. It changes, develops\u2026takes risks\u2026it is highly dynamic.<\/p>\n\n

<\/div>\n\n
\n

I am rather interested in conceptual works. Generally I try to collect diptych works. Therefore, I follow conceptual artists. I can give you many names that I would like to add to my collection, but examples from the most recent artists I follow would be Meiro Koizumi and Yang Ah Ham. In particular, their video works interest me.<\/p>\n<\/div>\n\n

<\/div>\n\n

In your busy schedule how much time are you able to set aside for art? Are there any art events that you do not miss? What are some of the publications you follow? \n<\/strong><\/p>\n\n

<\/div>\n\n

I set aside quite some time for art\u2026but this happens organically, on its own. I read, research and see, of course.<\/p>\n\n

<\/div>\n\n

In general, I do not miss the exhibitions of the galleries I follow, be it in Turkey or abroad\u2026 Every year I get invited to Rijks Academy Open Studio\u2026 I try to visit Amsterdam especially for this. I follow the scene in Far East\u2026Korea and Taiwan in particular. I attend fairs only if the artists I follow are participating in them\u2026 Otherwise, I do not visit fairs since they have a shopping mall-effect on me.<\/p>\n\n

<\/div>\n\n

In Turkey, I definitely follow Depo, SALT, Arter and Rampa Gallery. In addition, I follow publications such as Yap\u0131 Kredi Publishing Sanat D\u00fcnyam\u0131z, Art Asia Pacific, Canvas, Art in America and various online media.<\/p>\n\n

<\/div>\n\n

Your support of the young artists is widely known. In your collection, you have a large number of works from young artists. In your opinion, why are young artists important? What can be done to support them? \n<\/strong><\/p>\n\n

<\/div>\n\n
\"From<\/a>
From Bakanay Collection: Sibel Kocakaya (photography)<\/figcaption><\/figure>\n\n
<\/div>\n\n

I believe supporting young artists starts with buying their works. Buy the works you believe, trust, understand\u2026that is the way that the market grows\u2026There is no investing in art without buying.<\/p>\n\n

<\/div>\n\n

Of course, being able to discover new talents gives a collector a great pleasure. <\/p>\n\n

<\/div>\n\n

Next to renown artists, I also buy the works of artists whose works I believe in, but have not yet enter the market. For me, what matters is the unity of the whole collection. Therefore I consider each work before buying. A good work becomes important for me. Especially, with young artists, I am able to follow the production process more closely and I can easily dive in to the process, so I enjoy it more. Mine maybe a selfish feeling.<\/p>\n\n

<\/div>\n\n

What initiated you interest in the legal aspects of art? Has it always been an area you were interested in, or did it come about as an extension of your interest in art? \n<\/strong><\/p>\n\n

<\/div>\n\n

In fact, we can say that it was the absence of the execution of legal aspects of art. No, it was not something I have always been interested in\u2026I guess it grew as an extension of my interest in art.<\/p>\n\n

<\/div>\n\n

If we were to talk about the Turkish art market, what are some of the social, political and legal factors that prevent the market from growing? Are you taking an active role in the legal arrangements prepared for the growth of the market? \n<\/strong><\/p>\n\n

<\/div>\n\n

I believe that a consciousness of art is not yet fully established. The number of collectors in Turkey is increasing daily. Naturally, it is debatable what percent of this number is visionary and what percent is buying for investment purposes. The fact that the number is increasing is adding a value to Turkish Art in international platforms. Because the increasing number of collectors is helping the art market grow, which is a positive thing. I can give Charles Saatchi\u2019s worldwide publicity about \u201cYoung British Artist\u201d, or Peggy Guggenheim\u2019s role in American Abstract Expressionism as examples in this case. I really hope that we can have such important and visionary collectors in Turkey as well.<\/p>\n\n

<\/div>\n\n

It is a proven fact that art is an investment method, and a good investment method indeed. Therefore, it would be \u201cna\u00efve\u201d for a collector to claim that s\/he is not regarding collecting as an investment method. That is why, the subject that should be discussed is \u201cwhat kind of an art\u201d we are investing in. This is what determines the expertise and vision of a collector. Because the artists direct the history of art, the artists who create with faith despite everything and everyone. And it is the protectors of art, patrons or collectors who carry them to this day by \u201ctaking the risk\u201d of believing in them. That is the reason why it is imperative for a collector to create his\/her own vision when collecting. One should follow new art institutions. Because to understand the changes in art and be able to follow it and to have a vision that is always up to date is only possible through these. Without attaining such a vision, I do not think it is possible to catch the future. The corporate collections in Turkey have taken very important and pioneering steps in this context. I hope we see such developments in private collections as well and that it would be possible to prevent similar collections form forming.<\/p>\n\n

<\/div>\n\n
\"From<\/a>
From Bakanay Collection: Necla R\u00fczgar (oil work)<\/figcaption><\/figure>\n\n
<\/div>\n\n

Of course, one of the most significant legal problems in the sector is the high VAT rate and withholding tax. The main issue within the system is that costs cannot be properly invoiced. It is a market that operates largely outside the supervision of the Ministry of Finance. Although it is said that the art market is growing, some believe that it is overlooked by the Ministry because it is not considered financially significant enough to be taxed. Unfortunately, if these figures are circulating in the market but cannot be recorded, it is a serious issue. There is a constitutional gap regarding this matter. In the new constitution, it is crucial to regulate the relationship between art and the economy in conjunction with cultural policies.<\/p>\n\n

<\/div>\n\n

On the other hand, one of the important topics is the regulation of execution of royalty right for artists. The law of Intellectual and Artistic Property is sadly a very outdated law. The works of art are defined as \u201cFine Arts\u201d. However, in contemporary arts mediums vary so widely that this definition is no longer adequate. So, what is not defined as fine art according to the existing law will not be protected?<\/p>\n\n

<\/div>\n\n

Moreover, there are some problems regarding insurance laws\u2026 It is still problematic to insure an installation in Turkey. For example, will the insurance value of an installation made with chewing gum equal to the cost of the gum?<\/p>\n\n

<\/div>\n\n

In fact, professional groups as well as laws are very important. Making them work legally will be one of the greatest supports for art in Turkey.<\/p>\n\n

<\/div>\n\n

There many political prohibitions, the main one of which is censorship\u2026that is a separate and long discussion topic in itself.<\/p>\n\n

<\/div>\n\n
\"From<\/a>
From Bakanay Collection: Hera B\u00fcy\u00fckta\u015f\u00e7\u0131yan (installation)<\/figcaption><\/figure>\n\n
<\/div>\n\n

\n
\n
\n
\n
\n
\n
\n

Do you have any recommendations for institutions within the art ecosystem to support the growth of Turkey\u2019s art market? Could collaborations or new formations be beneficial?<\/strong><\/p> \n \n<\/div> \n<\/div> \n<\/div> \n<\/div> \n<\/div> \n<\/div> \n<\/article><\/p>\n\n

<\/div>\n\n

For a while now in Turkey, there have been many good collections formed by corporations. Most of them are making useful contributions to art from different perspectives. I think it is vital to increase the number of corporate collections in Turkey. New and right formations about this would always be useful.<\/p>\n\n

<\/div>\n\n

Briefly<\/strong><\/p>\n\n

<\/div>\n\n

First piece you acquired:\u00a0<\/strong>My first work of art was an ink piece from Abidin Dino\u2019s Istanbul series that was given to me as a gift by my grandmother who bought it from an auction house in France. It is fairly na\u00efve work which still remains in my office. It does not have much to do with my current collection, but it matters to me.<\/p>\n\n

<\/div>\n\n

The piece you would like to own the most:\u00a0<\/strong>A work of art that I made for a competition in primary school. I received a degree for it but unfortunately it was lost after the exhibition.<\/p>\n\n

<\/div>\n\n

The type of art that intrigues you:<\/strong>\u00a0Conceptual art.<\/p>\n\n

<\/div>\n\n

\n
\n
\n
\n
\n
\n
The meaning of art for you:<\/strong> Therapy.<\/div> \n<\/div> \n<\/div> \n<\/div> \n<\/div> \n<\/div> \n<\/section><\/p>\n\n
<\/div>\n","protected":false},"excerpt":{"rendered":"

Mehmet Ali Bakanay is a law practitioner, collector and one of the consultants of Art International. In addition to being active in the artworld as an artlover and collector, he has the opportunity to closely watch legal aspects of the art market. We had a fun conversation with Bakanay on topics ranging from his art […]<\/p>\n","protected":false},"author":1456,"featured_media":40347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1835],"tags":[],"class_list":["post-72276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conversations"],"acf":[],"_links":{"self":[{"href":"https:\/\/art50.net\/en\/wp-json\/wp\/v2\/posts\/72276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/art50.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/art50.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/art50.net\/en\/wp-json\/wp\/v2\/users\/1456"}],"replies":[{"embeddable":true,"href":"https:\/\/art50.net\/en\/wp-json\/wp\/v2\/comments?post=72276"}],"version-history":[{"count":3,"href":"https:\/\/art50.net\/en\/wp-json\/wp\/v2\/posts\/72276\/revisions"}],"predecessor-version":[{"id":72281,"href":"https:\/\/art50.net\/en\/wp-json\/wp\/v2\/posts\/72276\/revisions\/72281"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/art50.net\/en\/wp-json\/wp\/v2\/media\/40347"}],"wp:attachment":[{"href":"https:\/\/art50.net\/en\/wp-json\/wp\/v2\/media?parent=72276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/art50.net\/en\/wp-json\/wp\/v2\/categories?post=72276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/art50.net\/en\/wp-json\/wp\/v2\/tags?post=72276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}