Art is now firmly established as an asset class, albeit a non-traditional one. High-net-worth (HNW) collectors buy art and collectibles (antiques, jewelry, classic cars) for enjoyment but with a strong secondary motive: They hope that their collection will prove to be a store of value and ideally even appreciate over time. Additionally, collectors increasingly use their art as a financial tool, for example as collateral for a loan. As a result, most private banks now offer art loans, either
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