The report, “The New Era of Luxury Collecting and Investment,” surveyed 1,000 affluent Americans in their early 20s to mid-40s with annual incomes between $250,000 and more than $1 million who actively collect watches, jewelry, art, antiques, wine and sports memorabilia. Among the 78% who consider an item’s future value a top purchasing factor, 38% have simply not gotten around to buying a policy and 34% underestimate their risk of loss. Theft and accidental damage rank among the top three concerns for 45% and 42% of collectors respectively – a risk awareness that does not translate into coverage action.
Young luxury collectors treat collecting as investment but most remain uninsured: Chubb study
