Conflicting Beneficiary Demands Risk Liquidity Blockages in Art Estate Settlements

For many affluent families, a family office has become an indispensable ally in preserving and growing wealth and managing financial complexities. More than 4,500 family offices (triple the number in 2019) together manage some $6 trillion in assets.1 Yet even as they advise on investments ranging from private equity to real estate and mineral rights, family offices may not fully account for the implications of another kind of asset: art collections. “A significant collection may affect a family’s larger financial picture, from liquidity and credit to risk management and wealth transfer,” says Elizabeth Thiessen, head of Family Office Solutions at Bank of America Private Bank. “It’s vital to bring a similar level of planning and strategy to art and collectibles as you do for other asset classes.” > It’s vital to bring a similar level of planning and strategy to art and collectibles as you do for other asset classes. > > — Elizabeth Thiessen, Head of Family Office Solutions, Bank of America Private Bank Of course, a painting is not a share of stock. “Most collectors invest for personal pleasure and buy what they love,” says Rosemary Ringwald, Head of Art Planning, Planning Center of Excellence, Bank of America Private Bank. The emotional component makes a potential acquisition more nuanced and subjective than, say, buying into a hedge fund. Moreover, the art market can be complex

If we have selected the wrong experience for you, please change it above. This publication is a barometer for emerging trends and sentiment in the art and finance industry and highlights developments in the art and wealth management space. The 2025 edition of the biennial Deloitte Private and ArtTactic Art & Finance Report arrives amid market stagnation, shifting collector values, and an unprecedented global wealth transfer, with an estimated $992 billion in art and collectibles expected to change hands over the next decade. As the art and finance ecosystem adapts to demands for transparency, inclusivity, and purpose, innovation and strategic engagement are more critical than ever. Since 2011, the report has tracked the integration of art into wealth management . Over the last 14 years, what began as a question of relevance has become a matter of execution: in 2011, only a quarter of wealth managers offered art-related services; today, 51% do, reflecting a gradual shift in perception and practice. This edition draws on insights from 57 experts and nearly 500 survey responses , featuring stakeholders across the art and finance industry, including private banks, family offices, collectors, and art professionals. It features 30 articles from leading industry professionals , including contributions from eight Deloitte offices across the world. It explores how next-generation collec

The Art Basel and UBS Global Art Market Report 2026 , authored by Dr. Clare McAndrew of Arts Economics has just been released and it is signalling a cautiously optimistic turn for the art trade. The global art market grew by 4% year-on-year to an estimated USD 59.6 billion, after two challenging years. Whereas weakness at the top end had dragged global values down in 2024, the 2025 uptick was led by renewed activity at the high end and a rebound in public auction sales. The report also noted strong auction results, an increase in art fair sales, and greater gender parity in gallery representation. However, performance across regions and segments was uneven, as the art market navigated trade policy unpredictability associated with US tariffs and global inflation. Online sales, a promising new channel in recent times for dealers and auction houses alike, were also found to be losing momentum as transactions migrated back to in-person channels. Here are seven takeaways. The Art Basel and UBS Global Art Market Report 2026 can be downloaded for free here . 1. The global art market returned to growth amid ongoing recalibration Sales in the global art market increased by 4% year-on-year to an estimated USD 59.6 billion. While this marked a welcome shift in the direction of the market following two consecutive years of declining values, the recovery was moderate, leaving the market bel

An art collection often starts as a passion. As such, it is not often looked at as an asset class that needs thoughtful organization, structuring and, most important, succession planning. What are the different alternatives to transfer the ownership of art assets? What will your intended beneficiaries need to manage and steward your artwork? An art collection can mean a lot for a family. In this episode of Life & Legacy , Agnes Le Ster and Felicia Law, from the Wealth Advisory Practice at J.P. Morgan Private Bank, discuss how families can approach estate planning of art pieces and ensure that the financial and emotional value of every particular piece is adequately taken care of. See our full list of Life & Legacy episodes here. This podcast is intended for informational purposes only, and is a communication on behalf of J.P. Morgan Securities LLC, a member of FINRA and SIPC. J.P. Morgan and its affiliates and employees do not provide tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any financial transactions. Views may not be suitable for all investors, and are not intended as personal investment advice or as a solicitation or recommendation. Outlooks and Past Performance are never guarantees of future results. This is not investment research. Please read the important information section. Felicia : Hello everyo