[CPProt.net] European Fine Art Collector, Insurer Discusses His Trials, Tribulations at Art Basil, Miami Beach

[MSN CPPnet (Ton Cremers)]

European Fine Art Collector, Insurer Discusses His Trials, Tribulations at
Art Basil, Miami Beach
By Dave Kaiser
November 30, 2005 

The trials and tribulations of maintaining and insuring a well-known
corporate art collection, from bombings by the IRA, to being stolen by
builders and damaged when cleaners sprayed paintings with window cleaner,
were described by Charles Dupplin, head of Hiscox PLC's Fine Art and Private
Client Division at the Nov. 30 Fine Arts Committee Fund breakfast, one of
the many events in advance of the kicking off the week-long Art Basil, Miami
Beach, Fla. Art Basil, one of America's leading art shows.

Hiscox PLC is one of Europe's leading fine-arts insurers. Dupplin told
Insurance Journal each of the company's European offices has on display
entire collections of wonderful paintings and fine art representative of
each region. After joining the company in 1990, Dupplin ran Hiscox's network
of Continental European offices from 1995 to 2000 and started its offshore
insurance company in 1998.

"We know about fine art from the viewpoint of the consumer and as an
insurer," Dupplin explained. "Sometimes it's the old question of which came
first, the chicken or the egg."

Dupplin gave the board room full of collectors and industry experts, a slide
presentation showing some of the best paintings, sculptures and pieces of
furniture in Hiscox's collection. He described how Robert Hiscox became a
world-renowned collector of fine art and became well-known as a member of
the Tate Gallery in London and at the same time combed Europe for examples
of its finest artworks.

"The issue here isn't to buy art to make money," Dupplin said. "Hiscox has
bought and sold fine art and often thinks of it as a living thing, it
illuminates our offices and when our employees get bored with it, we sell it
and replace it with something even better.

"We can say from experience what collecting involves," he continued. "Art is
interesting, it attracts money and can make more money?but our main
motivation is art for art'sake."

Dupplin said that right now the Contemporary Art market is terribly hot. He
said thousands of art dealers, collectors and aficionados are now in Miami
Beach for the world's most exciting Contemporary Art gathering.

In his presentation to the fine arts committee, Dupplin explained that
first, Hiscox is enthusiastic and has no hesitations or reservations about
buying fine art.

"Second, we only buy what we like, we have a common theme and try to
maintain a very good eye in choosing fine art for our collection."

Dupplin was accompanied at the event by Elliott McDonald, Hiscox's expert
curator, who has been with the company for more than three years.

"It's important to be passionate about art, and to know something about it
as well," Dupplin said. "Everyone will make a few mistakes, but in our time
our fine art collection has been through a number of threats and come
through unscathed."

Dupplin said fine art is sometimes hard to insure because it is improperly
displayed, or even in some cases created on very delicate materials which
are not meant to last a long time.

"We also know that certain types of art are transient," he concluded, "but
you buy them with full knowledge that they will degrade over time.

Find this article at:
http://www.insurancejournal.com/