Collecting art has been a passion among individuals and families across the globe for centuries. Yet the path to building a timeless collection is seldom clear. Great collections stand out because so few successfully navigate the challenges that can arise.
UBS Art Advisory guides you in the principles and best practices of building, managing and planning for a collection of lasting value.
Who we work with
Advisory services
Developing a collection
- Advice on establishing a vision, strategy and budget
- Bespoke guidance when buying and selling significant artworks
- Education on due diligence to make informed decisions during art market transactions
- Insight into market dynamics and internal workings of art market participants to help expose pitfalls and minimize risks
- Connection to opportunities aligned with each collector's goals
Caring for a collection
- Advice and best practices for the safekeeping and long-term care of a collection
- Guidance and connectivity to industry-leading third-party providers necessary to manage a collection, including:
- Appraisal and valuation services
- Fine art and collectible insurance specialists
- Shipping, storage and logistics services
- Collection management systems
- Art law and structuring professionals
Planning the legacy for a collection
- Strategic ideas to create the most impact
- Guidance on structuring philanthropic gifts
- Advice on appropriate sales channels
- Collection distribution advice in the context of family interests and estate planning
- Guidance on defining multigenerational collecting objectives
Client stories
A young family starts out in the art world
Profile
The owners of a chain of retail stores engaged UBS to manage the proceeds from the sale of their business.
Through our discussions, the couple shared their desire to use some of the liquidity to purchase art but did not know where to begin.
Solution
We connected the couple with the UBS Art Advisory team who helped them develop a strategic plan to enter the art market that included:
- Conducting discovery consultations to identify and establish their collecting vision and areas of interest.
- Educating the couple on due diligence practices so they could make informed decisions, including:
- Guidance on an artwork’s provenance
- Analysis of its condition
- Negotiating the purchase price and other practical details around the transaction - Creating a long-term term collecting plan to accommodate the couple’s developing interests.
As their collection continues to grow, UBS Art Advisory is providing ongoing independent guidance while connecting the family with helpful art world participants and other collectors.
A family office organizes and strengthens a collection
Profile
The executive of a large family office was asked by its principals to evaluate, track and develop a plan for a sprawling and unorganized art collection held across multiple properties and storage facilities.
Solution
Lacking experience with collectibles, the executive connected with UBS Art Advisory for guidance. The Art Advisory assisted the executive by:
- Evaluating the scope and prioritizing tasks, including helping the executive understand the basic process and information needed to properly document and track the collection.
- Making introductions to relevant service providers, including registrars, collection management systems, appraisers and fine art insurance specialists.
- Consulting with the executive on which tasks to outsource and when it would be appropriate to hire dedicated staff to manage the collection.
Through this process, the Family Office executive acquired an important knowledge base that is helping to facilitate meaningful conversations with family collectors.
Art Advisory continues to guide the family on future acquisitions and ideas for possible philanthropic activations of the collection.
Established collectors pivot for the next generation
Profile
A family with a robust collection of modern American masterpieces whose value had plateaued wanted to take the collection in a new direction toward less established artists with greater growth potential.
They saw this as an opportunity to involve their adult children in making acquisition decisions and shaping the collection’s public-facing legacy.
Solution
The family was introduced to the UBS Art Advisory team who supported them by:
- Identifying which of their artworks may be appropriate to sell in the current market as part of the family’s overall wealth planning.
- Reviewing available sales channels and providing guidance on which may best align with their sales strategy timing and relationships within the art world.
- Facilitating conversations to identify the next generation’s collecting interests and artists whose work complements the existing collection.
With growing collaboration across the two generations, the family is now considering a foundation to execute philanthropic activities related to the collection and identifying a public exhibition space for a portion of the collection.
Insights
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