Art Insurance: Understanding the Fundamental Principles
Following the 2009 financial crisis and the subsequent phase of global economic recovery, the art market also experienced a renewed momentum and significant growth. This widespread transformation has intensified the demand for specialized and protective services within the art sector, including art insurance.
Art insurance is a specialized financial coverage designed to support collectors, artists, and galleries. This insurance compensates for damages, loss, or theft of artworks, providing owners with the assurance that their cultural and financial assets are safeguarded against potential risks.
Despite the critical importance of such insurance in global markets, a formal and established system for art insurance has yet to be defined in Iran, leaving collectors and industry professionals facing a shortage of these essential services.
The following text is based on the 2024 report from the website of the Insurance Business Magazine, which discusses the global trends, coverage options, and challenges of art insurance, aiming to provide a clear understanding of how artworks are protected in international markets.
1 July 2025
Art Insurance: Understanding the Fundamental Principles 1 July 2025
Following the 2009 financial crisis and the subsequent phase of global economic recovery, the art market also experienced a renewed momentum and significant growth. This widespread transformation has intensified the demand for specialized and protective services within the art sector, including art insurance.Art insurance is a specialized financial coverage designed to support colle...
Artchart Report on Iranian Art Collectors and Buyers 25 March 2025
Artchart, a data-mining platform for the Iranian art market, has analyzed economic data since 2019. Since 2022, it has published annual reports on Iran’s art market and, in 2024, expanded to regional analyses. In 2025, Artchart further broadened its scope by examining the role and behavior of key players in Iran’s art scene.Its first report on Iranian art collectors and buyers explo...
Artchart in Conversation with Seyed Saleh Beheshti, Director of B Gallery 26 January 2025
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What Collectors Need to Know About VIP Days at Art Fairs 12 January 2025
VIP Days at Art Fairs Have Their Own Rituals and Traditions: VIP guests are invited not only to view artworks but also to attend more exclusive parties and savor a variety of unique culinary experiences. These occasions offer them the chance to examine artworks in a more private setting, socialize with other attendees, and perhaps gain early access to insider information. Additional...
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Art collecting, when examined through the lens of psychology, can be likened to walking a fine line. On one hand, it is viewed as a positive activity dedicated to the preservation and safeguarding of historical, cultural, and artistic artifacts. On the other hand, it is sometimes perceived as a purely economic endeavor aimed at profit-making, or even, in some cases, as an addictive...
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Collecting Art in Contemporary Iran; From Artists to Archivists 29 July 2023
Art collecting in contemporary Iran is more of a patronage that even leads to archival activities. But is it possible to classify Iranian art collectors and talk about their motivations? In this short essay, Savana Boghossian has tried to propose a framework for art collecting in Iran, considering the limited information at hand.