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Perspectives

The Global Art Market: Drivers of Evolution

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By Citi GPS: Global Perspectives & Solutions,

December 2, 2019Posted InWealth Advisory and Citi

For generations, many of the world’s wealthiest individuals and families have collected art. These personal collections have brought them enjoyment as well as created social networks and special bonds with family, friends, scholars, and fellow collectors. Many collectors lend artworks from their collections to museum exhibitions for others to study and enjoy while adding to the prestige of the collection. Additionally, over recent decades, high quality works of art have increasingly gained recognition for their investment potential.

Citi Private Bank’s Art Advisory & Finance team guides clients through the art market, helping to create important private art collections that reflect each collector’s vision.

Our art advisors seek to help clients buy wisely and build collections into valuable assets. We have longstanding expertise in numerous areas, including modern and contemporary art, Chinese antiquities, and impressionist paintings. We can source acquisition and disposal opportunities, research provenance and authenticity, and give insights into the significance of potential additions in context of overall collections. Besides impartial art advisory expertise, we bring financial perspective to the collecting process, including intelligence about market trends, cycles, and timing.

With the potential for technology to enhance the world of art over the coming years, we believe that art’s existing appeal to collectors and investors could increase further. We stand ready to help clients grow and realize value from their collections.

In the Citi GPS report: The Global Art Market, we look to a variety of experts who talk about changes in the art market, including Nanne Dekking from Artory Inc. on the use of technology such as blockchain and Anders Petterson from ArtTactic on how changing demographics are triggering different behaviors and motivations around philanthropy. We also hear from Michael Moses and Jianping Mei from artasaninvestment.com on the financial characteristics of individual artists and groups of artists based on their relative liquidity level, Steven Wieting, Global Chief Investment Strategist from Citi Private Bank on the performance of art and its characteristics in an investment portfolio, and Betsy Bickar from Citi Private Bank Art Advisory & Finance on the evolution of the art market over the past 40 years.

Read the full report.