It is now six years since the first issue of the report was published and it has been exciting to follow and monitor how the Art & Finance industry has evolved over the years. In this anniversary report they have brought together and compared the findings and developments from the previous four editions with this year’s findings.
Increasing competition in the wealth management industry has put emphasis on a more holistic wealth management model, which has become a key driver and motivation for incorporating art-related wealth into the service offering.
A lot has happened since Deloitte launched the inaugural issue in 2011. One major change over these years has been a shift in the primary focus on art investment toward issues around the management of art-related wealth, including art-secured lending, estate planning, art advisory, and risk management. What is particularly encouraging this year is that we are seeing both a confirmation of the increasing convergence between collectors, art professionals, and wealth managers on the role of art in a wealth management service offering, as well as a convergence of different stakeholder initiatives when it comes to improving art market transparency and the infrastructure around the management of art and collectible wealth. Many of these tools and services are mentioned in this report.
Wealth and the global art market
Art & Wealth Management
Collectors increasingly see their art as an integral part of their total wealth.