In recent years, however, high prices for sought-after artworks and personal collections whose value forms a significant percentage of an individual's net worth have made the concept of investing in art increasingly accepted. Private equity art funds have sprung up around the world, and art specialists in personal banking departments of financial institutions (such as Bank of America, Citibank, Deutsche Bank, Emigrant, Goldman Sachs, HSBC, J.P. Morgan Chase and U.S. Trust) have attracted the interest of many who see art as a source of long-term profit.
