Since launching the initiative in 2011, we have seen the global art market ebb and flow: from the aftermath of the financial crisis to the peak of the market in 2016. In parallel, we have also monitored how the wealth management sector is increasingly responding to competitive pressures in its own industry, and the role art and collectible wealth are playing in the transition to a more holistic wealth management model.
Since our last report in 2017, external factors such as increasing political and economic uncertainty, rapid technological progress, climate change, and social inequality have dominated the headlines on a daily basis. We live in a changing world, fraught with uncertainty. This is the context in which we should view the global art and finance industry—the crucial intersection between culture and wealth.
We hope that this report will help to raise awareness of the developments and initiatives that have emerged within the art and finance industry over the past couple of years. Transparency, regulation, and technology trends will play an important role in the future of the art and finance industry. However, a collaborative approach between all stakeholders (art professionals, collectors (young and old), and wealth managers) is essential if we are to address the pressing issues and challenges we face, particularly as regards increasing trust in the art market today and in the years to come.
To access the report, please visit Deloitte’s website.
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