Bank of America Private Bank announced the launch of its art consulting service, designed to help private bank and merrill clients navigate the complex and often opaque art market.
This new offering provides collectors with trusted, unbiased guidance to help them curate and manage collections that reflect their vision, values and financial objectives.
The most recent New York Fall Auction season saw $2.2 billion worth of art sold, underscoring the growing role of art as both a cultural asset and a financial one. As collectors increasingly view art as part of their wealth strategy, Bank of America is deepening its commitment to helping clients make informed decisions in this dynamic market.
“Art collection sits at a unique intersection. It’s a profound means of self-expression while also holding significant financial value,” said Drew Watson, head of art services at Bank of America. “Our goal is to bring clarity to the marketplace and help clients make informed decisions, whether they’re acquiring their first piece or refining a multigenerational collection.”
A Comprehensive Approach for Collectors: Art consulting offers a tailored experience for clients at every stage of their collecting journey, providing context on art history, market dynamics and emerging collecting trends. The program is built around a multistep process involving consultation, strategy guidance, execution support and long‑term advice, providing clients with a structured framework for the thoughtful development, management and refinement of their collections.
The service also opens discreet access to the broader art world, helping clients engage with art fairs, galleries, auctions and private dealers. In addition, the team delivers ongoing market updates, research and other resources that provide the client with information to help them make key decisions.
The service will be led by Art Services Specialists Dana Prussian Haney for the private bank clients and Caroline Orr for merrill clients. It complements Bank of America’s broader suite of art services, which includes art lending, consignment, estate planning, philanthropy and access to exclusive art world events.
