Former CEO of Deutsche Bank, Josef Ackermann, said, “A company without a collection is like a person without a memory.”
Since the 1970s, DB has grown and maintained one of the largest art collections of any financial institution on Earth, among stiff competition.
Art not only diversifies a bank’s portfolio, but it also builds their brand as tastemakers, as these collections can often be showcased in exhibitions, cultural events, and museums.
Let’s explore 5 banks with notable blue-chip art collections.
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1. Deutsche Bank
Est. Value: $65 Million
57,000+ Works
Deutsche Bank – with one of the largest corporate art collections in the world, this bank owns over 57,000 pieces including works by artists like Richter and Giacometti which have sold for millions.
Think you can’t afford to invest in art? Think again. Learn more at Masterworks.
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2. UBS
Est. Value $100 Million +
30,000+ Works
UBS – acquiring art since the late 1960s, this Swiss multinational investment bank has one of the most impressive and valuable art collections in the world. While not disclosed, the collection’s value is estimated in the 100s of millions of dollars.
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3. Bank of America
Est. Value Unknown
30,000+ Works
Bank of America – this bank’s collection includes more than 30,000 works of art, with pieces dating back to the 18th century. They are notorious for making their collection available to the public through various exhibitions and events.
Image Credit: Masterworks.com.
4. JP Morgan
Est. Value: Billions of dollars
30,000 + Works
JPMorgan Chase – this collection might be one of the most valuable, estimated to be worth billions, with some individual works fetching tens of millions of dollars at auction.
Image Credit: Masterworks.com.
5. Société Générale
Est. Value: Unknown
1,800+ Works
Société Générale – a younger but still mighty collection, this French bank’s collection was created in 1995 and combines painting, graphic arts, photography and sculpture from top artists worth millions.
Think you can’t afford to invest in art? Think again. Learn more at Masterworks.
Image Credit: Masterworks.com.
Why do banks collect art?
So why do these banks have such large collections? Aside from the obvious beauty and cultural significance, the finance geniuses running these organizations know a secret about fine art that the average person does not…
Historically, fine art has served as an excellent storehold of value, allowing its collectors and investors to consistently grow their wealth at a high-rate of return. Its all-weather nature comes with a history of outperformance vs. mainstream assets, and even increasing in value when inflation is high, or the stock market is sinking.
This article originally appeared on MasterWorks.com and was syndicated by MediaFeed.org.
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