(UBS)
Collecting allows individuals to pursue passions and interests that reflect who they are and what they value.
In economics, each consumer has a different “willingness to pay” based on the unique utility that a purchase gives them. The word utility implies usefulness, which is ironic in the discussion of collecting , where most collectables have no practical use. Why is it important for people to build collections? At what level of wealth should you start to consider collecting? How can you start to allocate funds toward collecting in a way that fits in with your financial goals?
According to the UBS Global Collecting Survey, as wealth increases, high net worth individuals allocate a greater proportion of their wealth to their collections. The positive relationship between wealth and collecting suggests that rational economic decision -making helps drive these niche collectable markets.
In economic terms, the opportunity cost of collecting is the potential return—or loss—you might experience if the money spent on a collectible were invested in a traditional financial asset. To justify that trade-off, collecting must provide utility that outweighs the potential upside of not buying the collectible. In volatile markets, however, the personal value of a tangible object can feel more certain than market returns.
“Collecting is inherently about storytelling,” says Madelyn Sheridan, UBS Art Advisory Associate, and for many collectors, collecting fine objects that reflect their passions is a rational decision.
Like any other store of wealth, collections involve risks that require careful consideration for the building, managing, and planning of collections with a long-term view. To balance the risks of damage, authenticity, and provenance, it is important to have expert guidance for acquisition. Just like you would involve a financial advisor in important conversations around finances, it is important to involve experts who can support your collection decision-making.
“Like any significant transaction, due diligence is an important part of collecting. You need to understand what you’re buying into—the artist you’re supporting, their purpose, their representation, and so much more,” says Sheridan.
As markets become more global, there are increased risks related to tariffs and provenance due diligence. According to the UBS Global Art Market Report, imports of art and antiques to the US rose by 13% in value in 2025 to USD9.9bn. This reflects the sensitivity of collectors to global trade policy and their anticipatory moves to stockpile imports ahead result of tariffs. Navigating these markets requires rational decision-making that considers factors beyond how much implicit value an object brings you.
Collections are often held for life, and, like wealth, are often passed to the next generation. Collecting with the same perspective as wealth planning—with Liquidity. Longevity. Legacy* at the center of decision-making—is important for ensuring a collection’s durability.
"As collections become more significant, both financially and personally, they deserve the same thoughtful planning as other important assets on the balance sheet," according to UBS Wealth Way Strategist Ainsley Carbone. "Taking a long-term perspective can help ensure they’re preserved and passed on in a way that reflects a family’s goals and legacy," Carbone notes.
To build collections, it is important to collect with the intent of maintaining long-term ownership. Exploring customized financial solutions with a financial advisor could be a valuable way to align your collecting plans with your financial plans.
“To start, it’s important to establish baseline organization for a collection,” says Sheridan. As collections grow, it is important to establish an organizational structure just as you would for your finances. With this organization, financial advisors can work with you to establish a plan for how to manage your collection alongside your wealth. When collectors decide it is time to gift a collection—either to the next generation or for charitable causes close to them—it is important to consider tax strategy and goals as a collection changes hands.
Given the complexities of collecting, it is important to involve experts whose craft is to guide you through the entire collecting cycle—from acquisition to deaccession to gifting. In times of volatility, connect with a UBS advisor to make informed, holistic decisions about your wealth—in all its forms.
For guidance on incorporating passions into your portfolio, get in touch with a UBS financial advisor.
Main contributor: Mary Emma White, UBS Chief Investment Office summer intern
- UBS Wealth Way is an approach incorporating Liquidity. Longevity. Legacy. strategies that UBS Financial Services Inc. and our Financial Advisors can use to assist clients in exploring and pursuing their wealth management needs and goals over different time frames. This approach is not a promise or guarantee that wealth, or any financial results, can or will be achieved. All investments involve the risk of loss, including the risk of loss of the entire investment.
