Event | Singapore | Building a lasting family legacy through art

Art enables us to find ourselves and lose ourselves at the same time.

According to the Art Basel and UBS Survey of Global Collecting 2025, high-net-worth individuals (HNWIs) now allocate an average of 20% of their wealth portfolio to art, up from 15% in 2024. Notably, 89% of HNWIs have works in their collections that were inherited or gifted, with 74% choosing to keep at least some of these pieces. Additionally, 67% of HNWIs plan to bequeath works to their partner or spouse, while 45% have similar plans for their children.

Art has always been more than just an asset class; it reflects values, history, and vision. For many families, art collecting goes beyond financial investment – it is a way to create a lasting family legacy that tells a story and inspires future generations.

Art collecting is also a way to preserve family cultural identity, document social issues that matter to them, and support emerging artists or champion specific art movements.

At our upcoming event, we are privileged to have specialist family office advisor to art collectors, Ning Chong, to share with you her thought process and philosophy of collecting art and what it means for family legacy. We are also delighted to welcome Aun Koh, assistant chief executive from the National Gallery Singapore, who will offer his perspectives on the evolving art landscape and the role of institutions in shaping cultural narratives.

We will also hear from Sarah Barker, partner and global co-head of art law at Withers, who advises some of the world’s leading collectors, artists, and philanthropists.

We will also discuss:

• Balancing passion and investment: Exploring the emotional and financial aspects of art collecting.
• Inheritance and stewardship: Insights into how families ensure the seamless transfer of collections tax efficiently, while preserving their meaning and significance.
• Creating a legacy: Real-life stories from families using art to document their identity, values, and history.
• Managing future risks: What if my children have no interest in art? Do we have sufficient liquidity to meet potential tax liabilities?