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You love the piece. Now what?
Valuing, Insuring, and Passing It On By Akshay Sardana
A painting might sit quietly on a wall for years, but behind it, there’s often a story that’s anything but still. Sometimes it’s about taste. Sometimes it’s timing. Sometimes it’s a little bit of both.
But as your collection grows—whether it’s a few pieces over the sofa or a storage unit packed like a Tetris board—practical questions start to appear:
What’s it worth? Who’s it going to? Is it properly insured?
This isn’t about turning passion into portfolio performance. It’s about treating what you’ve built with the same clarity and care you’d apply to any meaningful asset—because one day, someone else will need to understand it, value it, and take responsibility for it.
That’s where planning comes in. Not the joyless kind. Just the kind that keeps the beauty intact—and the paperwork in order.
Most Collections Don’t Start with a Plan, But They End Up Needing One
Art collecting usually begins with instinct. A piece speaks to you. A style grows on you. Then, almost without realising it, you’re a collector.
What follows is rarely structured. Pieces are bought at different times, from various places, with different levels of documentation. Some are insured, some aren’t. Some have clear provenance; others don’t. And yet, they’re all valuable—financially, culturally, and personally.
Eventually, someone in the family or at the advisory table asks: “Should we organise this?”
The answer is almost always yes. Not to turn it into a transaction—but to give the collection the kind of care it deserves.
That starts with clarity:
What’s in the collection?
Where did it come from?
What condition is it in?
What’s it roughly worth?
And what do you want to happen to it?
Once that’s in place, everything else becomes easier—from estate planning to insurance, and even potential sales or donations.
Most Collections Don’t Start with a Plan, But They End Up Needing One
Unlike a stock or a property, art doesn’t come with a price tag. Its value is shaped by the artist’s reputation, market trends, rarity, and—sometimes—pure sentiment.
Collectors often overestimate value because they’re emotionally invested. That’s not a flaw; it’s human. But it’s also why outside appraisals matter.
There’s no single ‘right’ number when it comes to art. Market value, fair market value, and insurance value each serve different purposes—whether you’re looking to sell, donate, or simply protect what you own.
And if you haven’t had your pieces revalued in a while, chances are the numbers are out of date. In a market where tastes shift and prices move quickly, staying current is part of staying prepared.
Let’s proactively take advantage of this opportunity and commit to providing our older-age clients with the best possible decisions.
Insuring What You Can't Easily Replace
A lot of collectors assume they’re covered until something happens.
Standard home insurance doesn’t always account for what art is actually worth or how it moves through the world. Pieces can be damaged in transit, caught in a storage mishap, or even tied up in ownership disputes. And when they are, it’s usually too late to revisit the policy.
Specialist art insurance is built around the realities of collecting. It factors in up-to-date valuations, title protection, storage conditions, and the potential risks of moving or loaning a piece.
It doesn’t have to be complicated—but it does need to be current. And for most collectors, that means revisiting it more often than they think.
Fractional Ownership: A New Way In
Not everyone starts by buying a painting outright anymore. Platforms offering fractional ownership, essentially a way to invest in a share of a high-value piece, are attracting a wider group of investors to the art world.
This model isn’t for everyone, but it has changed the landscape. You can now participate in the appreciation of a Basquiat or a Kusama without needing to own the entire work.
For traditional collectors, it’s not a replacement for full ownership. But for those curious about art as an asset or for families introducing younger generations to collecting, it offers a lower-barrier, lower-risk way to engage.
It’s also something to consider in estate planning. Passing on a stake in an artwork, rather than the artwork itself, brings different legal and valuation considerations. And those are best thought through in advance.
Succession: The Most Challenging and Most Important Part
No one wants to think too far ahead. But art, like everything else, eventually becomes part of the inheritance conversation.
And it’s rarely simple.
Some pieces are tied to memories. Others were collected with future donations in mind. Some heirs care deeply. Others don’t.
Without structure, these differences can lead to disputes, rushed sales, or lost value.
That’s why documenting your intentions matters just as much as cataloguing your collection. It helps to make that clear early on whether you plan to pass pieces down, sell them, or donate them.
Some families create art trusts or foundations. Others appoint a specific trustee or advisory council to manage the transition. There’s no single model, but doing nothing is usuallyn’t the best one.
A conversation today can spare confusion later.
Final Thought: You Don't Need to Treat Art Like an Investment
No one wants to think too far ahead. But art, like everything else, eventually becomes part of the inheritance conversation.
And it’s rarely simple.
Some pieces are tied to memories. Others were collected with future donations in mind. Some heirs care deeply. Others don’t.
Without structure, these differences can lead to disputes, rushed sales, or lost value.
That’s why documenting your intentions matters just as much as cataloguing your collection. It helps to make that clear early on whether you plan to pass pieces down, sell them, or donate them.
Some families create art trusts or foundations. Others appoint a specific trustee or advisory council to manage the transition. There’s no single model, but doing nothing is usuallyn’t the best one.
A conversation today can spare confusion later.