Knowledge base
Bequest
A bequest is a transfer of property directed through a will to take effect after death. In collecting, it may direct one artwork, a group, or a collection to a person or institution.
Definition
A bequest is a transfer of property directed through a will to take effect after death. In collecting, it may direct one artwork, a group, or a collection to a person or institution.
Where a collector encounters it
Museum credit lines, provenance records, wills, estate records, and collection announcements may identify a bequest. An institution may also describe promised, pledged, and completed gifts differently, so the exact status and date matter.
What it does not establish
A bequest is not the same as every inheritance or lifetime gift. Whether it is valid, accepted, restricted, or completed depends on governing documents, law, and the receiving institution’s process.
Related reading
Sources
- The Art Basel and UBS Survey of Global Collecting 2025Art Basel and UBS / Arts Economics
- Art collecting: Transferring your collectionUBS