Carving out a niche.
A difficult industry to pin down, art is largely dependent on fashion for its prices. This makes it a stimulating insurance for those brokers thinking of branching out, says Helen George.
Art insurance differs from the sort of mass-market insurance whereformulaic rates and cover apply. There is no retail price index for Dutch
old master landscapes, no match test for a Rossetti portrait. Art is an
international business and, like the stock exchange, values are subject to
dramatic fluctuations, which are influenced by confidence and fashion.
Fashion is key in determining art prices. The works that decorated the
walls of boardrooms in the 1980s may have suited the money-conscious
atti
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