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.
Art Services for Individuals & Families
Whether you’re an individual or an arts institution, our Art Services group can work with you to deliver solutions to managing your collection
At Bank of America, 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
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
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
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.
We offer a full suite of art services for museums, foundations and institutions, ranging from investment management and lending, to comprehensive consultative services.
- 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
How we can help
Explore what it’s like to work with a Merrill Financial Advisor