Deloitte ArtTactic 2013 Art and Finance Report

Deloitte Luxembourg and ArtTactic have recently released the 2nd annual edition of their Art and Finance Report for 2013. The report is interesting in its findings and conclusions and important to appraisers as it stresses the importance of combining art and finance.  With art being seen more and more as an alternative asset as well as a passion investment, it is logical to connect the two.

The report covers much of what has been covered in the press and here on the AW Blog, with topics such as art playing are larger role in investment choices and with wealth mangers, economic concerns are a driving force behind passion investments, increased transparency as the art market evolves, and the growing importance of online education.

The main sections of the report include a review of the art market from an auction house perspective, an art and wealth management survey, art as an investment, the growth of the online art industry, analytical tools and online education.

To download a copy of the full report, click HERE.  The report is rather in-depth and is nearly 80 pages long, but has much important information about the art market and investing in art.

ArtTactic on the release of the Art and Finance Report

Deloitte Luxembourg and ArtTactic is delighted to present the 2nd edition of the Art & Finance Report 2013. A joint effort, in which Deloitte and ArtTactic analyzed the industry’s development over the last 14 months.

This year’s report confirms  that the global art market is on the rise and the increasing attention being paid to the concept of art as an asset class, are fostering the development of a new type of professional services in the art and finance industry.

The highlights of the report include:

• Increase in confidence among wealth managers in the development of the  Art & Finance industry
• Economic uncertainty is increasing client demand for alternative investments: portfolio diversification is more important than investment returns for wealth managers collectors and art professionals surveyed
• The role of art in wealth management is changing from client entertainment to art wealth management services. The increasing value of art is creating a need for banking services to protect, enhance or monetise this value
• The global art investment fund market increased by 69% to US$ 1.62 billion in 2012 driven by Chinese demand for art investments, but it remains a nascent market
• A new Freeport in Luxembourg scheduled to open in 2014 is likely to be a major attraction for the wealth management and art investment fund industry. and is likely to become a major draw for bringing art and collectible assets to Luxembourg
• The Art & Finance industry is set to benefit from greater transparency and more liquidity: new online transaction platforms add liquidity to the lower end of the art market, and will broaden the scope and depth of art market data available, which in turn will improve the valuation of art
• Online education is set to play an increasingly important role in building confidence in the art market.

Source: ArtTactic

---

---