Art Wealth Management [electronic resource] : Managing Private Art Collections / edited by Alessia Zorloni.

Turning Collections into Philanthropic Opportunities -- Financial and Estate Planning for Art Assets -- Assessing and Improving the Effectiveness of Private Art Museums -- Celebrity Effect in the Contemporary Art Market -- Deepening Business Relationships Through Art -- The Art Collector Between Private Passion and Philanthropy -- Appendix: Private Museums and their Founders. .

This book offers an overview of how to manage private art collections, providing essential insights on art wealth management, art investment, art governance, and succession planning for art assets. It offers practical recommendations on sound art collection governance, but also examines the background of art markets and price building, including the influence of fashion and trends. Throughout history, art patronage has played an important role in the wealth of ultra-high-net-worth families and led to private museums funded by philanthropist collectors in order to celebrate their own tastes and leave a lasting legacy. Today, as a result of the growth of art investing by a new generation of wealthy collectors, not only artists but also wealthy families, sophisticated investors and their close advisors now face a more complex set of financial and managerial needs. As such, the contributions in this book will be of interest to collecting families, family offices, and professional advisors seeking to integrate art into their overall wealth management strategy, and to scholars in the fields of cultural economics, art dealers, curators, and art lovers.