Auction Houses, A Look Behind The Curtain: Unique Risks And Underwriting Concerns-Auction Houses, A Look Behind The Curtain: Unique Risks And Underwriting Concerns

Auction Houses, A Look Behind The Curtain: Unique Risks And Underwriting Concerns

Video Transcription

Video Summary

In the webinar, Brooke Mellon, an expert in the fine art and jewelry industry, discussed the inner workings of auction houses. She highlighted the key players in the auction world, such as Sotheby's and Christie's, and discussed their histories and differences. Brooke also touched on the risks associated with auction houses, including fine art handling, exhibition hazards, and security concerns. She provided insights into underwriting considerations for physical and online auction houses, emphasizing the importance of understanding the art market and evaluating appraisals accurately. Additionally, she addressed the outsourcing of packaging for fine arts shipments and the contractual acceptance of exposure by online auction houses. Overall, the webinar aimed to help insurance professionals better underwrite and protect auction houses from potential risks.

Asset Caption

Date of Publication: October 28, 2015
Duration: 56-minutes

The art market is red hot and auction houses are where the action is. Auction house operations present unique risks for the fine art underwriter.

Meta Tag

Module Fine Art

Keywords

Brooke Mellon

fine art industry

jewelry industry

auction houses

Sotheby's

Christie's

risks

underwriting considerations

art market