The Economic Times

Bank of America offers art consulting to wealthy clients as collectors increase loans demand

Consulting firm Deloitte estimated in its latest annual report on the art market that ultra-high net worth clients held around US$2.56 trillion in art in 2024, and that figure could reach $3.5 trillion by 2030. Banks and family offices expect that around one third of those art works may be transferred to younger generations over the next decade.