The top story on ArtBusinessNews.com this morning is that Huntington T. Block Insurance, specializing in Fine Art, projects that the way art is bought, sold, and protected will change in the coming year.
The trade wars, hurricanes and wildfires and the demand for historic artworks by an increasing number of billionaires worldwide are affecting valuation and cost of insurance. A report by the founder of Art Economics in 2019 valued the 2018 global art market at 67.4 billion with a sharp upward trajectory.
Joe Dunn, CEO of Huntington T. Block, says that, like other areas of business, the art world will need to prepare for and adapt to challenges presented by societal, economic, and environmental concerns.
Andi Schoenbaum, Visual Artist.
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