Is your collection properly insured?
Hobby or Lifelong Passion
Some are on the hunt for rare original comic book covers, while others seek 19th-century art with exciting provenance. Collecting can span widely diverse areas, limited to a certain period, theme, or style. Some collections can even become so extensive and unique that they end up in museums.
For many, collecting is a hobby strongly associated with childhood, but for others, it is a lifelong passion. Collecting involves, among other things, searching, acquiring, and preserving. Today, thanks to the internet and the digitalization of the secondary market, anyone can discover, expand, and maintain a collection.
Collectibles
Collectibles can range from stamps and coins to vinyl records and wine, but art and design are the most common. You don’t need millions in your account to start a collection. You don’t necessarily have to own an oil painting by Anders Zorn or a sculpture by Carl Milles. You can just as easily collect lithographs by Jockum Nordström or watercolors by Lena Cronqvist.
But whether you have a Zorn or a Cronqvist hanging on your wall, don’t forget your collection of Stig Lindberg porcelain or the dining table from Ikea’s 18th-century series. Together, your treasures may be worth more than you think. Depending on age, condition, supply, and demand, an item can be sold for more or less than what you paid for it.
Insure Your Collection
Whether you have just started a collection or have been collecting for many years, you will need specialized insurance. This applies to many types of collectors, not just those with the most valuable and significant collections. Together, your design objects and artworks may be worth more than you think.
It is therefore important to preserve the item’s condition, should you one day decide to sell parts of or your entire collection. After all, you have invested money, time, and energy in carefully expanding and preserving it. Take our quiz to find out if your collection is properly insured.