It’s a trend that’s reflective of our times, with the record-setting box office of Avengers: Infinity War at a total of $1,813,732,959 in only 4 weeks! Comics as an art form is hugely popular, and we want to help protect those collections.
Most people debate whether to go with a painting or a photograph when filling an empty wall space. But lately, people are turning to something that reflects their pop culture interests, opting for art that depicts superheroes both well-known and obscure.
The appeal of these characters has gone mainstream in a big way, ensuring that vintage comic collections will continue to increase in value. With this increased popularity, there has also been more interest in collecting original comic book art. A popular cover of “Amazing Spider-Man” #328 pitting the title character against the Hulk by Todd McFarlane fetched $657,250 at auction in 2012, and a Sotheby’s Comic Art auction fetched $4.1 Million in 2015.
With the increasing values of this American Art Form comes the increasing exposure to theft and loss due to fire, floods, and damaging weather. We at Bernard Fleischer & Sons Inc. / ArtInsuranceNow.com provide Fine Art & Collectibles Insurance to give peace of mind to the avid collector and with over 60 years of experience under our belt, we can Insure your collection properly to fit your particular situation.
For one investor that dream came true. The painting ‘Salvator Mundi’ believed to be painted by Leonardo da Vinci purchased for £45 just sold for $450 million. So, is investing in art a good way to get rich quick? And how should you proceed? “with extreme caution” say financial advisors.
While stories like the recent Leonardo da Vinci sale and endless Antiques Roadshow episodes make it seem very attractive to invest in paintings and objets d’art, such cases are relatively rare. What you get back is based on supply and demand and there are big movements upwards or downwards if particular works or artists come in or out of fashion.
Attending a neighborhood garage sale or popping into a local thrift store can leave a lot to be desired. After sifting through dented furniture, chipped ceramics, and strange art, one is often left feeling that the presented merchandise is worthless. But if you are lucky enough, you may just find a diamond in the rough.
Some Top Garage Sale Finds:
$3 for a Ceramic Bowl, Sold at Auction for $2.2 million
Andy Warhol Sketch Purchased for $5, Valued at $2 Million
50 Cents for a Painting worth $10,000
Tiffany Mirror Purchased for $2, Valued at $25,000
The high sale price of the Leonardo painting was not typical, a recent academic study, based on examining data from 1.2 million auction house sales of paintings, drawings and prints, concluded that art appreciated in value by a modest 3.97% per year, in real US dollar terms, between 1957 and 2007.
Given the current environment of low interest rates, that’s still a better return than many savings accounts will give you. Paintings are seen as attractive investments because it’s very clear what you’re buying. Part of this is driven by investors’ desire for “real assets”.
Many investors lost money in the financial crisis by investing in products they did not understand, they are turning back to things such as art. Wealthy clients spend an increasing part of their wealth on art and collectibles.
You don’t necessarily have to be super-wealthy to invest in art.
The ArtInsuranceNow.com sponsored 2017 Spring Affordable Art Fair was an excellent example of great works of art that are accessible. There are a growing number of art fairs and online marketplaces such as Artfinder aimed at buyers with a more modest budget.
The Affordable Art Fair (AAF), which started out in London’s Battersea Park in 1999, now holds fairs in more than 10 cities around the world. But while it may be becoming more affordable, just don’t bet on becoming a millionaire yourself.
With a keen eye and a lot of luck you may come across a valuable find but most art industry experts suggest that you buy a piece of art because you like it, not because you want to get rich. “If it goes up in value that should be just an added bonus.”
Protect your valued finds by visiting us at ArtInsuranceNow.com, voted a 2017 Top Broker and listed as the “Cream of the crop” in our respective area of Art Insurance by Insurance Business Magazine. We can help with all Art related insurance requirements. Apply here or Contact William Fleischer CIC at 800.921.1008 to discuss your unique situation.
A contractor was hired to repair water damage at a Sparta N.J. Township home, he was just arrested charged with theft and burglary of a $240,000 collection.
The contractor snatched art and Rare Comic Books, valued at more than $239,000, from Joseph Quesada, Marvel Comics’ chief creative officer and former editor-in-chief.
Authorities said Quesada hired a contractor as a handyman earlier this year, and asked him to repair damage caused by a burst water pipe. But the handyman had other ideas, he covered the property’s security cameras with towels, then he moved himself and his girlfriend into Quesada’s house.
Soon after, a friend called Quesada to ask why he was selling a portrait of his wife. Quesada didn’t know what his friend was talking about, but he did recall he kept that specific portrait in Sparta.
Fearing the home had been burglarized; Quesada and his wife went to the house and found their art collection missing, including original comic book art. This is where a separate Fine Art Collectible Policy makes the difference.
Theft by a person you entrust with your property is covered by the AXA Fine Art Collectible Policy, Are you covered for any fraudulent, dishonest, or criminal act or acts by employees, dog walkers, home attendants, contractors, or trusted individuals?
Contact us today to help insure your Valuable Fine Art and Collectibles.
As a leading Art Insurance Broker, I have seen a rise in 3 types of policies focusing on the Art Corporation are showing in their businesses.
The rise of using Art leasing/ renting companies for a short time, rotating exhibition space. These new type of lending services, fill a niche by adding style to an office by using a wide range of art, Prints, Sculptures, Paintings, Glass and tapestry. I have insured the works in Doctors’ offices, hospitals, corporate offices and temporary spaces, not to mention in all types of residences.
Pure old fashion Corporate Art insurance. Art can make a space interesting and appealing to visitors or staff. Manny CEO Private Collections are starting to show off their collection. I design policies to insure the art while in the office, in storage or enjoyed at home.
Exhibition Insurance. Many curators are able to assemble a strong show, using a common theme or thread to enhance the corporate culture creativity. They invite Artist or ask Collectors to loan works fulfilling the vision of the project.
Collecting Art is fun, but maintaining values fluctuate a lot on an insurance policy. All homeowners policies where fine art is a part of the policy are written on a scheduled basis.
To add these artworks to your schedule, the company requires a current bill of sale or a current appraisal. The value is locked based on the schedule, good if the value goes down, bad if the values goes up.
Here is an endorsement which I feel the collector should consider when they are insuring an art collection.
It’s the Current Market Value 150. With this endorsement, the company will pay the amount shown on the Schedule for which the item is insured. However, if the market value of the itemized article immediately before the loss or damage exceeds the amount of itemized coverage for that article, we will pay its “current market value” immediately before the loss or damage up to 150% of the amount of the itemized coverage for that article. Of course, if the item market value decrease you will get less.
American Collectors Insurance is the nation’s leading provider of specialty insurance for collectors. We offer affordable, agreed value coverage for all years, makes, and models of collector vehicles as well as a variety of valued collectibles.
A wide range of collector vehicles qualify for American Collectors’ program, from “brass and wood” antiques to street rods, exotics, modern classics and more. American Collectors also offers all-risk coverage for a wide range of collections from stamps, coins and comic books to vintage wine, sports memorabilia and beyond.
Since our inception in 1976, we have catered to what is most important to our collecting clients – superior service and broad, flexible coverage. As time has passed we have continued to evolve our programs to match the unique needs of enthusiasts.
American Collectors is as passionate about insurance as our clients are about their collections. Between our quick and pain-free quoting and application process to our “Real Person” Guarantee every time you call, we make it easy to obtain collector coverage. Let our reputation speak for itself: last year, 99% of our customer feedback rated our claims process from very good to excellent.
Thank you for making American Collectors your go-to provider for all of your collector insurance needs.
Collector Vehicle Insurance, Collectibles Insurance, Agreed Value Insurance
Prehistoric Art is Art from Ancient Near East, Ancient Egyptian, Greek, Roman, Islamic Art, etc was created on many different types of Median, Ceramic, Gold, Silver, Tapestry, Bronze, wood, stone. etc. over the years these work of art have become scarce, fragile and valuable.
I am insuring a dealer in Indian Art who specializes in Prehistoric Art. He reminded me that Long Island in NY had one of the largest concentrations of Arrowheads.
Addressing the Insurance coverage for those Art items which you care for, I have a very special understanding of the risk of damage, theft while in the home or in a Exhibitions.
Art Insurance policies are not all the same. Some are written through LLOYD S of London, AXA Art, Travelers Insurance Company to name a few players. The Art Insurance company will include Transit by Sea, Air & Land. Coverage is usually extended to a Storage facility or the final destination.
To have these items insured, the underwriters in most cases will require a condition report if in long-term storage or if newly purchased, a bill of sale or appraisal.
Visit ArtinsuranceNow.com to complete the Collectors application to cover your prehistoric, Modern and contemporary art.
A collector or Museum consigns a work to a dealer to sell. The dealer does his job and sells the work, but does not pay the Collector or Museum. This is now considered a loss of property and if your current policy does not address this type of loss you may not have coverage.
Now if the consignment date has expired and the dealer is not willing to return the work, in many incidences this would be classified as theft and be covered by your fine arts policy.
For more information on Conversion Exclusion call us at 1.800.921.1008, visit our website at www.ArtInsuranceNow.com or fill out one of the applications below for a fast and easy quote.
We represent Insurance Companies to make it easy for you to protect the things you collect.
Homeowners insurance alone does not provide enough coverage for your clients’ treasured items. That’s why our collectibles program is the perfect complement to your standard personal lines products. It enables you to protect the full collector value of your collections in the event of a total loss.
Designed specifically for collectors, our all-risk policy not only protects against accidental breakage, hurricane, flood, earthquake, fire, and theft – it also protects the packaging and accessories of collectibles. Plus, our optional Collectors’ Choice coverage provides your clients who are actively growing, displaying, or occasionally using their collection with the added level of protection they need to fully enjoy their hobby.
We offer deductible options (including zero deductible), rate options and discounts, and multiple collections in the household can all be covered by the same policy. Appraisals are not required to obtain this valuable, stand-alone coverage.
We’ll consider all types of collections including*: