“european Art Market And Insurance: Protecting Valuable Collections”

“european Art Market And Insurance: Protecting Valuable Collections” – This art and finance report aims to serve as a barometer for the evolving art and finance industry, focusing on key trends and developments in the art market.

In accordance with a press release published on March 7, 2022, we would like to inform you of the fact that Deloitte has announced a review of its operations in Russia. We separate our operations in Russia and Belarus from our global network of member companies. Deloitte will exit operations in Russia and Belarus.

“european Art Market And Insurance: Protecting Valuable Collections”

The release of our 2021 Arts and Finance report comes at a time of uncertainty and turmoil in our recent history. The world continues to be impacted by the COVID-19 pandemic, as well as climate change, social injustice and gender inequality, to name just a few global challenges.

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The question is what role art and culture can play in solving many of these challenges. On 30 July 2021, for the first time in history, G20 Culture Ministers agreed to a “G20 Culture Declaration” firmly positioning culture as a key driver of sustainable socio-economic recovery after the COVID-19 pandemic.

The Deloitte Art & Finance initiative, in its humblest form, aims to be part of this change and transformation. Located at the intersection of art business, culture and finance, it aims to foster dialogue between these stakeholders. Promote new funding models and sustainable investments in arts and culture. Elevate the role and importance of culture in improving our lives and societies.

Since founding the Deloitte Art & Finance initiative in 2008, we have enjoyed a learning journey with many key moments and encounters. In 2011, he presented his first report on art and finance at the 4th Annual Deloitte Conference on Art and Finance in Miami, Florida.

After working with ArtTactic to publish his seven-issue report, our understanding of the art and finance ecosystem and its evolution has changed dramatically.

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We would like to thank all the professionals who have made valuable contributions over the years, and all our research participants and art market participants (asset managers, collectors) who have continued to share their views and opinions on the art industry and finance. , art experts). What began ten years ago as an initial exploration of the role of art in wealth management has gained tremendous momentum over the years.

We are now at a stage where most asset managers are embracing and understanding the importance of art and collectibles as a strategic component of their overall wealth management service. The emotional and financial value of art helps wealth managers develop deeper and more human relationships with their clients, enabling them to address the personal, emotional and financial challenges associated with art and collectibles. Masu.

Since the launch of this initiative in 2011, we have witnessed the rise and fall of the global art market, from the aftermath of the financial crisis to his 2016 market peak. In parallel, we have also been keeping an eye on developments in the wealth management sector. is increasingly responding to competitive pressures in its own industry, with art and collectibles playing a role in the move to a more inclusive asset management model.

Since our last report in 2017, external factors such as growing political and economic uncertainty, rapid technological progress, climate change and social inequality have dominated the daily headlines. We live in a changing world filled with uncertainty. This is the context in which we must look at the global arts and financial industry, a key crossroads between culture and wealth.

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We hope this report helps raise awareness of the events and initiatives that have occurred in the arts and finance industry over the past few years. Transparency, regulation and technology trends will play an important role in the future of the arts and finance industries. However, to address the immediate problems and challenges we face, it is essential that all stakeholders – art professionals, collectors – young and old – are involved, especially in terms of increasing confidence in the art market today and in the years to come. , asset managers) is essential. please come, who is coming

It’s been six years since the first edition of this report was published, and it’s been interesting to see how the art and financial industries have evolved over the years. This annual report compares the results and developments of the last four editions combined with this year’s results.

Increased competition in the wealth management industry has placed an emphasis on more comprehensive wealth management models, which has become a major driver and motivation for incorporating arts-related assets into service offerings.

A lot has happened since we published our first issue in 2011. One of the major changes over the last few years has been the shift in focus from art investment to art asset management issues such as art financing, estate planning, art consulting and risk management. Particularly encouraging this year is the confirmed convergence between collectors, artists and wealth managers regarding the role of art in the provision of wealth management services, as well as improvements by various stakeholders. We are witnessing both a convergence of efforts towards transparency. Art market and infrastructure management of rich art and collections. This report references many of these tools and services.

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The 2016 Art and Finance Report comes out at a difficult time for both the art market and the wealth management industry. Slower art market growth in late 2015 and early 2016, combined with slowing economic growth, increased financial market volatility and geopolitical uncertainty, made the situation more complex and unpredictable. .

Based on the findings of this report, the wealth management industry is clearly more aware of how the arts can be used as an asset class and as a tool to build stronger and deeper customer relationships in an increasingly competitive market. I take it strategically.

Since our first report, we have seen a great shift in perceptions not only of the role of finance in art, but of art in finance. What emerges from the 2013 report is a gradual convergence of motivations and concerns among key players in the art market and wealth management community regarding art as an asset class, a client-driven trend. about it.

This first report focused on better understanding the boundaries between emerging arts and the financial industry, the concerns and motivations of its stakeholders, and the potential of arts as an asset class in the wealth management community.

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Adriano is the Artistic and Financial Coordinator for the Deloitte Group of Companies and has over 20 years of professional experience. He is Head of Art and Finance at Deloitte Luxembourg. With the globalization of the art market, the number of art he fairs has exploded, and now every city wants to participate.Is this a positive for the industry? It’s revolutionizing the way we buy. In just 10 years, the number of international fairs has grown from 10 to 60. This means that the classical model of the art market based on gallery trade is increasingly being driven by the art fair economic model. International fairs are important platforms for galleries and artists to present themselves, market their work, and make connections with key players in the art industry that they might otherwise not be able to work with. It also offers art critics, collectors, curators, museum directors and aficionados a practical way to directly contact and access a wide range of works from all over the world under one roof in her one frame. also provides a method. This is especially useful in markets such as: Now that globalization is on the rise, people are more and more in a hurry and want to see as many works as possible in a short time. In addition, this new model will encourage like-minded communities to exchange ideas more freely, helping transform the host city into a global city of the arts.

[+] Ben Brown Fine Arts booth showing works by Vic Muniz and Claude Lalanne at The Armory Show 2016 (BFA photo credit: The Armory Show 2016)

According to the TEFAF (European Art Foundation) macroeconomic report released last March, the art market hit a record 51 billion euros in 2014, with people buying mostly at trade fairs and online. Gallery sales at the fair have increased from about 30 percent in 2010 to about 40 percent in 2014. Abby Banther, Artistic Director of Freeze Americas and Asia, said: new client. The growing number of galleries signing up for Frieze shows that participating in fairs is an important part of their business. Art fairs are good for collectors who can see a huge amount of art

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