Deloitte Luxembourg and ArtTactic conducted the research for this report between July and October 2011. We surveyed 19 large private banks predominantly in Luxembourg, employing more than 900 private wealth managers. Our aim was to establish the perception, motivation, as well as the current and future involvement with art as an asset class. At the same time, we conducted a similar survey among 140 international art professionals (galleries, auction houses and art advisors) and 48 top international collectors to establish whether the issues and concerns in the art market were of a similar nature as those experienced in the wealth management community. We have also been in contact with 34 art investment funds during this research process.