When passion and pricing collide
June 1, 2018
Today’s collectors are passionate about the pieces they buy. It is often as much about the emotional connection they feel to a piece as the potential monetary gain. They are buying works of art that speak to them. They revel in the fact that they will be the custodian of a unique piece until it is passed to a new collector, or that it will be treasured within their family for generations to come. “Many people ﬁnd it more rewarding than investing in the stock market,” says Claire Marmion, founder of The Haven Art Group, a wholly owned subsidiary of Privilege Underwriters, Inc., a member of the PURE Group of Insurance Companies.
Experts like Marmion have seen an uptick in their clientele base as young and emerging collectors look to them for guidance in building and protecting their collections. “Today’s art market is signiﬁcantly more complicated to navigate than years past,” says Marmion. “For example, contemporary artists work in avant-garde mediums, such as dried blood, gum, and even human hair, that can’t be protected and preserved the way a traditional oil on canvas would be.” This is where Marmion and PURE come in. “We work together with independent brokers and wealth managers to expand coverage that will work for the individual’s collection based on its unique needs.”
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