'

What Type of Collector am I?

2340003

Anyone who considers themselves to be a collector picks up certain attributes that we, as brokers who advise underwriters of your profile, use to assist in formalizing the right structure of insurance for you. These attributes are not set in stone but are used to support a description of how the collection came about.

A)  The Inheritor:  A Inheritor’s collection is made up of artworks that have been passed down from parents or other family members to the collector to contribute to or create their collection. The value of the works have appreciated since the original family members purchased the art. Normally, appreciation in values continue to be seen throughout the collection. The size of the collection can be large or modest but very often contains more than one significant reputable artists. New purchases can happen but the majority of the collection has already been amassed. Appraisals are an important part of ensuring the increasing total value is properly protected.

B)  The Builder:  A Builder is an active purchaser of artworks. Builders can be either young professionals buying their first pieces or older individuals in the process of buying and selling works regularly. Risks associated with this type of collector include transits, frequent changes to the schedule of items where applicable and purchase price documentation.

C)  The Watcher:  A temporary static collector, a Watcher has either done past buying and selling and/or will do so in the future. This type of collector can be waiting for a particular artist to come onto the auction platform or is no longer wishing to collect and is in the process of planning for the future of the collection. Estate planners and art advisors tend to contribute to the conversation for a Watcher, where decisions of gifting art to an institution or giving art to a family member become conversation points.

Contact us to chat more about your collection, your needs and how we can help.