Wealthy investors are increasingly viewing art less as a passion and more as a serious asset class in its own right, and private banks and advisers are responding by creating funds and offering securitisation, as well as arranging traditional loans.

Demand for good art has been buoyed by interest from buyers from emerging economies, and an increasing number of private banks are teaming up with experts to advise clients. Spanish lender Banco Santander, Dubai-based Emirates NBD, EFG Eurobank Private Banking in Luxembourg and Italian bank Banca della Svizzera Italiana have enlisted the advice of The Fine Art Fund Group, a London-based fund run by former curator Philip Hoffman. As well as finding investment opportunities, Hoffman and his team organise regular seminars, provide research and offer a personal advisory service.