What is Art Banking? - Expert Views
Art Banking: insights
"Art Banking" is a term that you may not be familiar with, and for good reasons: we have coined it to refer to a unique series of services orchestrated by Societe Generale Private Banking and, mostly provided by professionals from the art world. These services cover a wide range of subjects, from the appraisal, authentication, purchase or sale of art objects and collections, to assistance in setting up inventories, to thinking about how to hold or pass on assets to the next generation, insurance solutions, and even the exciting subject of philanthropy and the arts.
For which client profiles?
Our clients have extremely diverse profiles. Some people are not interested in the arts at all, but have inherited a work of art and need an estimate of its value and perhaps later assistance in selling it. Others are seasoned collectors, interested in auditing their insurance policy, or wishing to address specific legal or tax issues related to a donation, for example. And our clients can also be first-time buyers, who are making their first significant purchase or starting a real collection, or who are interested in philanthropy, or who simply wish to attend some of the major events and meetings we organize.
Artistic heritage: what is at stake?
Beware, we never present art as a classic "investment", from which a financial return, a financial gain, should be expected. The vocation of a work of art is first of all to provide intellectual and aesthetic pleasure, or the pleasure of owning a beautiful object or even collecting, and all this, obviously, cannot be measured in euros or dollars. This justifies - or even imposes - being accompanied by experts in their respective fields, selected from the worlds of auction houses, art consulting, insurance, law or taxation of artistic heritage. An accompaniment that allows you to navigate the world of art with more information and guidance.
Societe Generale and the Arts
Very often, our conversations begin with a visit to the Societe Generale contemporary art collection. This is another important point that deserves to be highlighted: for several decades, Societe Generale has been involved in the art world, and in particular, in contemporary art, which we collect. We are very proud of our house's passion for art, which we like to share with our Private Banking clients.
So do not hesitate to contact your private banker. We will be very happy to start a conversation and help you realise your projects regarding work of arts or art collection. In the meantimeI thank you for your attention and say see you soon maybe!
Find out more about our Art Banking expertise by consulting our dedicated page.
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