The art buyer’s dilemma: How to pass on your collection

Art collectors face a dilemma as they update their estate plans: What to do with a collection that is potentially worth hundreds of thousands or even millions of dollars?

Whether they’ve bought the pieces as an investment or to fuel a passion, collectors heading into their retirement years are trying to figure out whether to sell the works they’ve accumulated for a potential profit, pass them down to the next generation or donate them to charity.

It’s a financial decision as well as an emotional one, says Gary Brent, chairman and co-founder of Toronto-based HighView Financial Group, which works with high-net-worth (HNW) investors, some with art as part of their asset mix.

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