Citi Private Bank is a business of Citigroup Inc. (“Citigroup”), which provides its clients access to a broad array of products and services available through bank and non–bank affiliates of Citigroup. Not all products and services are provided by all affiliates or are available at all locations.
Citi Private Bank Art Advisory & Finance is a comprehensive fine art consulting service that provides collection administration, estate consultation, philanthropic planning, and art financing. The Art Advisory Service charges an annual retainer that varies depending on the scope of the project and the size and locations of the collection, as well as transaction fees for buying and selling works of art. Clients must sign an Art Advisory Service Agreement. Those who are not clients of Citi Private Bank must meet certain thresholds and open an account. Prospective clients will be referred to a Private Banker for guidance through the process of opening an account. Citi Private Bank clients must sign an Art Advisory Service Agreement. Alternative assets such as art are speculative, may not be suitable for all clients, and are intended for those who are willing to bear high economic risks. Citi Private Bank Art Advisory & Finance does not advise clients how to profit from the purchase of art or guarantee that a particular piece can be sold or otherwise used for a financial transaction for any amount including an amount equal to the purchase price.
Art loans are extended to qualified borrowers on a secured basis. All loans and lines are made by Citibank, N.A. or an affiliate, equal opportunity lenders, and are subject to Citibank’s or such affiliate’s qualifications, underwriting guidelines and credit approval.
This document is for informational purposes only. All opinions are subject to change without notice. Opinions expressed herein may differ from the opinions expressed by other businesses of Citigroup Inc., are not intended to be a forecast of future events or a guarantee of future results. Although information in this document has been obtained from sources believed to be reliable, Citigroup Inc. and its affiliates do not guarantee its accuracy or completeness and accept no liability for any direct or consequential losses arising from its use.
Citigroup Inc. and its affiliates do not provide tax or legal advice. To the extent that this material or any attachment concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Any such taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor.
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