Private art collections are groups of artworks owned by individuals or families rather than institutions like museums. These collections can include paintings, sculptures, photographs, and other forms of art. Collectors often acquire pieces based on personal taste, investment potential, or historical significance. Many private collectors take pride in showcasing their collections, sometimes opening their homes for public viewings or donating pieces to museums. Notable collectors, such as David Geffen and Eli Broad, have significantly influenced the art market and culture through their acquisitions and philanthropic efforts.