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Art Services

Art Services for Collectors and Institutions

 

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Whether you’re an individual, a foundation, or an arts institution, our Art Services group can help you unlock opportunity from your art collection

Our approach

At Bank of America Private Bank, we offer extensive art services. We provide solutions for collectors and institutions while helping to navigate the complex art world.

For individual collectors we help:

  • Unlock capital via Bank of America by lending against collections
  • Design estate plan options and philanthropic strategies to address tax and other implications of a collection
  • Prepare for a sale of art or collectibles via consignment services

For institutions we:

  • Provide institutional investment management for endowments
  • Offer consulting services on issues including governance, development and board best practices
  • Help fund acquisitions by extending credit via Bank of America, and assist with deaccessioning though Consignment Services

Whatever your specific goals are for your collection, our range of capabilities, along with our commitment to the arts can help us deliver a broad combination of services while considering the legacy and potential of your collection as part of your overall financial goals.

Services

Art Lending

Bank of America credit specialists work with major auction houses and independent appraisers to provide an objective appraisal. You select the art used as collateral, while keeping your collection on display.

 

You can leverage your art to:

  • Finance business goals
  • Acquire additional artwork
  • Use liquidity to take advantage of other financial opportunities
  • Raise funds for donating and gifting

Consignment Services

With our Consignment Services, an Art Services Specialist can work with you to manage the sale of individual pieces or an entire collection, bringing transparency to the auction process while helping you save time and money. We can consign fine art, including paintings, works on paper, photographs and sculpture, and collectibles, including classic cars, watches, jewelry, fine wine, handbags, and furniture.

 

We can help you:

  • Plan for a thoughtful and competitive sales strategy
  • Negotiate Seller’s Agreement and financial terms
  • Reduce/eliminate seller’s commission and fees
  • Secure robust marketing and PR package

Art Planning

Our solutions carefully balance considerations around taxes, wealth transfer and philanthropic goals as you consider the disposition plan for your collection.

 

We can help with:

  • Determining sales strategies to minimize and defer taxes
  • Gifting to family members
  • Donating to a charitable institution
  • Creating a private museum
  • The sale of art or collectibles through Consignment Services

 

Each of these options has complex implications, which we can help you evaluate well in advance of making decisions.

Philanthropic Solutions

We offer a full suite of art services for museums, foundations and institutions, ranging from investment management and lending, to comprehensive consultative services.

 

We offer:

  • Endowment management services and complete outsourced investment function capabilities
  • Consulting on governance, development strategies, and board relationships
  • Lending solutions working with Bank of America credit specialists
  • Consignment Services to help with deaccessioning 

Connect with a Private Client Advisor

Learn more about the benefits of working with Bank of America Private Bank

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