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.