Design – An Unbeatable Investment
20th Century Design – A Safe Bet
Trends come and go, but some seem to endure. One of the strongest trends at auction in recent years is undoubtedly the interest in 20th century design. As interest increases, prices rise, which means that the value of well-known designed objects may very well increase while you have them in your home. In one of Barnebys’ reports, we can confirm that 20th century design has often been an unbeatable investment – economically as well. Between 2009 and 2016, for example, the total value of objects sold at auction by the 15 designers analyzed in the report increased by as much as 330%.
Josef Frank’s Flora cabinet, Alvar Aalto’s Savoy vase, and Axel Einar Hjorth’s sports cottage furniture are some design classics that today achieve remarkable prices on the secondary market. One of the reasons is that global interest in Scandinavian design has increased in general, and for certain designers in particular, but it is not only the most iconic furniture models that fill international interior design magazines that have increased in value in recent years.
When Value Increases
Design has in many cases proven to be a better investment than art. Therefore, it feels natural to protect one’s treasures from the unpredictable – regardless of whether it concerns handmade, rare objects or mass-produced design. Despite this, few consider the importance of insuring their valuable possessions, or perhaps do not even know that one can now obtain specialist insurance for one’s belongings.
But does one really need specialist insurance for valuable movable property? Yes, even though home insurance covers part of the value, the amount is limited and there is a significant risk that it will not suffice if several objects are lost or damaged on the same occasion.
Transport – The Most Common Cause of Damage
One of the most common causes of damage to objects is transport. Every time you move an object, the risk of accidents increases. Transport, installation in the home, and insurance are the three most important things to consider immediately after your art purchase.
The same applies to paintings and sculptures that need to be installed or hung in a strategic location protected from strong sunlight, water, and other factors that risk damaging the work. Every time you move an object, the risk of accidents increases.
Art Insurance
Design, artworks, and collectibles are examples of objects that risk losing value after repair. Our art insurance covers both repair costs and diminution in value.
At Brookfield, we also offer agreed value, which provides significant peace of mind as there will be no discussion about the amount of compensation. Read more about our art insurance.