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Case studies: How JTC Helps Private Clients With Art Collections

01/07/2021 / THOUGHT LEADERSHIP

Luxury assets such as artwork can form part of a client’s or a family’s lifestyle and identity.

As people become more sophisticated in their financial and estate planning, they begin to view art as an investment.

At JTC, we have over 33 years of private client services experience. During this time we have developed a deep technical understanding, which means we can help our clients at all stages of purchasing, holding, selling and gifting luxury assets.

Artwork can be held as an investment to enjoy, or as part of a client’s succession planning for future generations. Working in conjunction with specialist art experts, JTC offers a comprehensive collection management service.

Recently we assisted one of our clients to set up a structure to own his art collection.

Client’s background:

> Non-res/non-dom

> Husband/father

> Wife

> Two children

> Artwork owned and located in the UK and elsewhere in Europe

The client wanted to put in place succession planning for his considerable art collection.

How did JTC Private Client Services assist?

We created an offshore structure in Jersey to hold the paintings, which were purchased by the offshore company.

This has given the client flexibility that the individual pieces of art can be sold or remain held in the structure for his lifetime enjoyment and the enjoyment of his children. The paintings are structured efficiently and we can take on the management of the art, which can be time consuming for a client.

The general management includes coordinating appropriate insurance, valuations, buying/selling, condition checking, installation, shipping and any other needs that may arise.

JTC Private Office – creating order

JTC Private Office also helps clients with significant art collections.

Recently we worked with a client’s legal team and art dealer/curator to help consolidate their art catalogues to bring them together in one place, Edge. Edge is a state-of-the-art, highly secure multi award-winning technology platform, which has been purpose-built for HNW clients and single/multi-family offices. Edge gives clients their data at a glance through a secure online platform or app. It brings everything together in one place.

Our client now uses Edge to hold photographs of the artwork, values (cost and market), documents about provenance, insurance details and structures charts detailing legal ownership. This can be viewed by the client at any time, alongside all of their other assets, giving them a clear picture of where everything is and an overall summary of their total assets. This has given the client peace of mind that their artwork and other financial and non-financial assets are now in order.

key contact

Victoria Blackburn

Senior Manager