PANEL SUMMARY
Once perceived essentially as a “hobby,” collectibles have evolved into a bona fide asset class. The panel explored implications of this shift, with a focus on common pitfalls affecting collectors whose purchases derive from a passion for the category. Panelists emphasized the importance of a disciplined and structured approach to investing in this space. Collectors must conduct genuine due diligence to avoid fakes and must ensure a properly documented sale to guard against future uncertainty around title. They must engage highly qualified advisors to maintain an ongoing understanding of the value of their holdings and secure appropriate insurance coverage. And it is essential for collectors to plan for the future, mindful of how their heirs will be positioned relative to the collection and preserving its legacy.
ATTENDEE POLLING DATA
Which of the following types of luxury collectible are you or the clients you advise most passionate about right now? Please select one:
(A) Fine art and antiques
64%
(B) Vintage automobiles
27%
(C) Rare wines and spirits
0%
(D) Jewelry and watches
0%
(E) Sports memorabilia
9%
Which of the following approaches do you feel is most important for balancing personal enjoyment with financial considerations when acquiring or managing luxury collectibles? Please select one:
(A) Setting strict investment criteria
0%
(B) Investing in items with dual aesthetic and investment value
63%
(C) Regularly reassessing portfolio composition
13%
(D) Seeking expert advice from appraisers and dealers
25%
PALM BEACH FAMILY OFFICE FORUM | 17
Made with FlippingBook Annual report maker