At Bank of America, we understand the significant role that art plays in both our clients’ lives and within our communities. We offer a range of solutions to address the needs of art collectors, families, artists, foundations, museums, and art businesses throughout the collecting life cycle.
Our approach
Our clients collect art because it’s a reflection of life experiences, values and interests, but art can also be a significant asset that should be considered in the context of a broader wealth plan.
We help individuals and families borrow against their art collection, design wealth and legacy plans fully integrating their art, and prepare for a sale of art or collectibles at auction or via private sale. For institutions, we provide nonprofit advisory services, Consignment Services, and offer institutional investment management by a fully outsourced Chief Investment Office.
Liquidity
Unlock the value of your collection through an art loan to generate liquidity for:
- Financing a business objective
- Acquiring additional artwork
- Raising funds for a philanthropic goal
Advisory
Optimize the sale of your collection through our insights, experience, and guidance
- Structure preferred terms on the sale of art and collectibles through our global auction house partners
- Receive end-to-end management of the sale process from your dedicated Art Services Specialist
- Get access to our trusted network of art advisors, appraisers, and logistics professionals
Planning
Incorporate art and collectibles into your overall legacy and financial strategy
- Consider the tax implications of owning, selling, and passing your collection to the next generation
- Establish your legacy through trust, estate and philanthropic planning
- Prepare for the transfer and disposition of your collection with our team of dedicated Wealth Strategists
Philanthropy
Leverage our private philanthropy services, as well as consulting and investment management services for museums, foundations and nonprofits through our specialized Philanthropic Solutions group
- Maximize your charitable impact through our dedicated Philanthropic Solutions team
- Receive tailored consulting on nonprofit governance and development, as well as thoughtful deaccession strategies
- Utilize bespoke investment and endowment management solutions.
Insights
Obtain comprehensive thought-leadership on the art market, industry trends, tax considerations and more
- Receive one-on-one consultations with our Art Services Specialists
- Understand the evolving art market through our bi-annual Art Market Update
- Access topical reports on tax and philanthropic trends shaping the art world
Access
Bank of America Corporation is one of the largest corporate sponsors of arts and culture, giving our clients access to major events throughout the art world calendar.
- Join us for bespoke museum tours, programming, and speakerships
- Celebrate our commitment to preserving art and objects of cultural heritage through select conservation lab tours
- Experience exclusive events surrounding major art fairs like TEFAF New York
Connect with a Merrill Private Wealth Advisor.
Frequently asked questions
Nonfinancial assets, such as closely-held businesses, real estate, fine art, oil, gas and mineral properties, and timber, farm and ranch land, are complex in nature and involve risks including total loss of value. Special risk considerations include natural events (for example, earthquakes or fires), complex tax considerations, and lack of liquidity. Nonfinancial assets are not suitable for all investors. Always consult with your independent attorney, tax advisor, investment manager, and insurance agent for final recommendations and before changing or implementing any financial, tax, or estate planning strategy.
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