The 2023 edition of the biennial Art & Finance report comes at a time of economic and geopolitical uncertainty. This report highlights the ongoing evolution of the arts and finance industry during both prosperous and challenging periods. Additionally, we observe that technological developments are making art a less atypical asset, enabling it to be managed similarly to other asset classes. For more information, refer to the contribution "The art of creating a legacy - How technology takes family art collections to the next level," which can be read on pages 358-359 of the report.

The Deloitte Art & Finance initiative aims to promote collaboration between stakeholder groups at the intersection of art, culture, and finance. We believe that by providing greater transparency and awareness about the motivations, obstacles, needs, and drivers in the arts and finance industries, we can catalyse and improve dialogue between these stakeholders, inspire new models and solutions, and increase the role and importance of culture in improving our lives and society.

The 8th edition of the Deloitte Private & ArtTactic Art & Finance report looks back at 12 years of this evolving industry. This report, published by our colleagues at Deloitte Luxembourg and unveiled at the 15th Deloitte Private Art & Finance Conference, includes survey results from 435 arts and finance stakeholders and contributions from 54 leading experts across 31 articles.

This year's report predicts that global wealth in art and collectibles could grow to an estimated USD 2.861 trillion by 2026. This is due to both an increasing number of ultra-high-net-worth individuals around the world, as well as a greater proportion of their wealth that they invest in art and collectibles. In addition, 89% of our stakeholders surveyed (private banks, family offices, independent asset managers, collectors and art professionals) believe that art and collectible wealth should be part of a wealth management offering, compared to 65% who said the same in our first survey in 2011. This is the highest percentage in the report's history - a clear indicator that interest in the combination of art and finance is here to stay.

Yet, only 24% of collectors surveyed have a long-term plan for their collections, indicating an urgent need to start conversations around art and estate planning.

Take a closer look at the report's findings to uncover emerging opportunities in impact investing and technology, and to fully grasp the trends in wealth management, regulation, and art-backed loans.