Earlier quoted context omitted.
Can you provide documentation for these supposed tax benefits? (I'm genuinely curious) AFAIK there are no tax benefits at the point of buying the art, and cap gains benefits are no different than stocks, real estate, etc.
If I remember right, in France arts pieces are not taxed as other assets (like flats) are. edit: https://en.wikipedia.org/wiki/Solidarity_tax_on_wealth#Basis The English version is lacking some exempted elements compared to the French version, where works of arts are explicitly cited.
* objets d'antiquité, d'art ou tout simplement de collection, parts de sociétés civiles propriétaires de tels objets (antiques, art, collections, and shares in what I think are trusts of various kinds)
* biens ruraux loués à long terme et participation dans des groupements fonciers agricoles (which appears to have been translated as "anonymous bonds"--a better translation is long-term rural bonds and agricultural cooperatives).
The French Wikipedia also states that this was replaced in 2018 with a new tax that's on property. My grasp on the French legal terminology here is weak, but I think it refers to real estate property only and does not include personal property, which would include things like artwork.