Protecting your artwork begins the moment you buy it, says one art expert MICHAEL PARKIN By Robyn A. Friedman Updated Jan. 11, 2021 12:10 pm ET
Finding a perfect piece of art to fill that blank space in your home can be like the proverbial needle in a haystack. But once you own it, how do you protect that painting or sculpture? Protection includes insurance, for sure, but it means more than just securing a policy.
“Collectors should know that risk management starts from the point of financial acquisition, even before they take physical possession of the piece,” said Laura Doyle, vice president, jewelry and valuable collections manager for Chubb Personal Risk Services in New York. “Do your due diligence, including inquiring about provenance and condition, and buy from reputable sources. And it’s critical to keep protection top of mind when displaying your artwork.”