The article examines the megayachts docked outside the Venice Biennale, focusing on the 170-foot vessel 'Private GG' owned by Giancarlo Giammetti, cofounder of the Valentino fashion house. Giammetti, a serious art collector, was in Venice for the Biennale opening, posting photos of artworks and a dinner with actress Salma Hayek and her husband François-Henri Pinault, a major art collector. The yacht, built in 2022 by CRN, features luxury amenities including a jacuzzi, cinema saloon, and beach club.
This matters because it highlights the intersection of extreme wealth, fashion, and the art world at one of the most prestigious art events globally. Giammetti and his late partner Valentino Garavani are significant art collectors, with Garavani selling a Basquiat for $67 million in 2023 and Giammetti selling another Basquiat for $93 million in 2021. Their recent opening of an exhibition space in Rome, PM23, underscores how fashion magnates increasingly shape the art landscape through collecting, philanthropy, and institutional ventures.