If You Love It, Protect It

Art investment continues to grow, and with it the need for specialist insurance that gives collectors peace of mind. Here’s what you need to know

With most major asset classes still flatlining after years of pandemic-induced shocks, the art market continues to stand out as the brightest in the investment landscape. Global art sales stood at US$65.1 billion in 2022, up 29 per cent year on year, with US$13.4 billion of that taking place in Greater China. The ultra-rich, moreover, have seen the way the wind is blowing: the median expenditure on art among high-net-worth collectors rose to US$274,000 in 2021, more than doubling the spending of the year before. As the value of collections increases, so does the need to protect those valuable items, which, unlike most physical assets, are more likely to be displayed in the family home than kept in storage. As a result, there has been a corresponding increase in art…

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Tatler Hong Kong (Digital) - 1 Issue, June 2023

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