Art investors need to combine their passion for collecting with a strategic purpose to ensure their investments can maintain their value over the long term and leave a legacy for their family and society, according to a report from HSBC Private Bank.

The Art of Preservation outlines practical considerations for how high net worth and ultra high net worth individuals can shape and manage their art collections, offering some key considerations for them to manage, protect and grow their investments.

It advises each art collector to ensure they have a clear purpose, so they understand how much emotional value they have in each artwork, and the extent each piece must be evaluated as part of their wider financial assets. Similarly, a collector should decide if the purpose of their art is for private enjoyment, or if they wish for it to be shared with society.

The bank also emphasises the importance of clear communication within a family to ensure a smooth transfer across the generations. Family members should ensure they share the same vision for a collection’s future ownership, control and management, and be comfortable with the many responsibilities and costs associated with maintaining great works, from regular appraisals to paying for storage, insurance and transport.

The report was launched on 7 October at London’s Saatchi Gallery, where HSBC in collaboration with Abu Dhabi Art welcomed an exclusive group of clients and art experts to an event connecting emerging artists with collectors, gallery owners, and other influential figures within the art market. 

The joint exhibition previewed curated works from HSBC’s ‘Different Perspectives’ collection, which features eminent emerging artists from around the world, alongside Abu Dhabi Art’s ‘Beyond Emerging Artists’, a debut collection from three young Middle Eastern artists making their entry to the art world.

Gabriel Castello, CEO of HSBC Private Bank a.i, said: “From national galleries to private patrons, collectors preserve, protect and showcase art to be appreciated by future generations. But building such a legacy requires thought and planning. Collecting and managing art needs a clear purpose, and it is vital to have open conversations with family members. With care and vision, private collections can become legacies that enrich societies for generations to come.”

Mohamed Al Marzooqi, CEO, UAE, HSBC Bank Middle East Limited, said: “Art and culture, like trade and finance, flourish on openness and exchange. By bringing Emirati artists from Hong Kong to London, we are showcasing the UAE’s growing role as a hub that bridges East and West. HSBC’s support for Abu Dhabi Art reflects our belief that cultural dialogue is as vital to long-term prosperity as capital flows – both help shape the relationships and understanding that underpin global growth.”