Fine art is part passion and part investment. Most fine art has been a lucrative investment for collectors in recent years. This is a good time for agents to provide advice to those who may be new to collecting.
Those who are new to collecting art have greater exposures or lack appropriate insurance coverage that more seasoned art collectors have. Often, this is because they haven't been educated about how to properly care for and protect valuable works.
If you have clients who are new to the art scene, protect their collections with these four tips:
- Art Storage and Display
When it comes to insurance, the reasons behind the acquisition of art do not matter as much as where and how the art is displayed, said Melissa Lalka, worldwide fine arts manager at Chubb Personal Insurance.
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