An Uptick in Art Rental Appraisal Requests

The final months of 2020 saw a significant uptick in art rental appraisals. While perhaps an unusual trend in the art market, this uptick didn’t much surprise estate planners. As Joe Biden emerged as the front-running presidential candidate by late summer, his proposals for tax reform elicited an increasing number of questions from high-net-worth individuals, including those with significant art collections, regarding the implications for their tax planning.