Art & Collectibles: Value in ‘Passion Assets’ is Often Overlooked

Scotiabank
November 25th, 2025

‘Passion assets’: How art and collectibles can play a key role in financial and wealth planning

People often buy art or collect other objects because they are pleasing to the eye, or they enjoy the process of seeking out a rare piece or discovering an emerging artist early. But a benefit that is often overlooked is that these items — whether it’s artwork by one of the greats or a collection of vintage cars — can be valuable financial assets and play a key role in wealth planning, philanthropy, or succession strategies.

These items have deep value, and not just financial value — cultural value, emotional value, they’re often tied to identity, memory, and legacy.

Robyn McCallum, Director, Fine Art and Collectibles, Scotia Wealth Management

Collectors can spend a significant amount of time building a collection that reflects what matters to them and it’s important that they are accounted for responsibly.

These assets should be considered in estate planning to ensure they will be properly cared for, transferred, or donated in alignment with the collector’s wishes…