The Art Collection of King George IV

King George IV’s excessive consumption was completely out of synchronization with his income with George IV needing to rely upon the British parliament multiple times to bail him out of financial ruin. George IV’s over spending was so bad that parliament actually forced him to marry in exchange for hundreds of thousands of pounds worth of debts to be forgiven. Although George IV is thought of as extravagant and profligatory, the truth is that the combined value of his collection equates to an average modern day value of £10,000,000 (£10 million) for every £1000.00 George IV spent during the 19th century. It should be noted that this large gain is due primarily to the intrinsic and irreplaceable value of the items as £1000.00 in 1800 would only be worth £83,000 as of 2019 when accounting for inflation

Societal Changes Within the United Kingdom Which Occurred​ After World War I

Post World War I in the United Kingdom, many battle hardened veterans no longer viewed themselves as servants to the wealthier classes of society and demanded social equality, suddenly realizing that work in factories and within dense city populations could provide a better standard of living than within small economically cut off villages. Suddenly, without warning, aristocratic estate owners went from paying 6% on their income tax, to a much higher rate in line with what a common person would pay. Due to this massive increase in the amount of income now required to continue the running of an estate, many were demolished during the 1950’s and 1960’s and much of the artwork within these homes which initially would have been passed down throughout subsequent generations as family heirlooms, were sold to the U.S. as the U.S. was the wealthiest nation in the world during the era and had the ability to help once wealthy families avoid complete financial ruin. Most aristocratic dynasties simply gave up with the introduction of these new income tax policies as the cost of maintenance was simply too great for what an estate could reasonably generate