According to the 2019 Art and Finance report, produced by Deloitte and in partnership with ArtTactic, UHNWI wealth associated with art and collectibles was worth an estimated $1.74 trillion in 2018.
The findings also highlight 86% of wealth managers reporting how they “thought there was a convincing argument for including art in their wealth management service offering”. This is the highest since the launch of the report in 2011.
There are many noteworthy points in the report for art collectors and those considering investment. It shows a change towards more financially-motivated art ownership, changing the perception of owning art to one where it is an integral part of their total wealth.
Secured lending against art is reported to be increasing too, seeing a growth of 10% in the last three years. It is estimated that $21-24 billion loans are outstanding against art in 2019; however, the USA makes up 90% of this market, with the majority being private individuals.
A reported 88% of contemporary works of art and 80% of impressionist and modern works of art held for ten years or more have a resale price higher than their purchase price.
Additionally, art as an asset class is reporting to have a stronger positive correlation with the price of gold than with other asset classes.
The survey features input from private banks, family officers, art collectors and art professionals from around the world.
You can download the report as well as earlier editions at:
https://www2.deloitte.com/lu/en/pages/art-finance/articles/art-finance-report.html
