Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Insurance Losses for Hurricane Sandy May Include Max-ed Out Claims

December 30, 2012 by Marion Maneker

The Times puts some texture on the reports that art insurance claims from Hurricane Sandy could top $500m. It turns out the number is not confined to works of art. Also included in the stunning total are the damages to the galleries and storage facilities themselves. And then there’s the artists hit badly who might be claiming everything they possibly can:

Included in this half-billion-dollar total, Reuters reported, is a claim for losses sustained on work by the pop artist Peter Max, whose works on paper are said to have been stored in a warehouse that was flooded. Reuters, quoting unnamed sources, put the claim on Mr. Max’s work at $300 million (although Mr. Max’s Web site, unlike those of many other artists affected by Sandy, made no mention of storm-related losses as of Friday). A message left for the representative listed on Mr. Max’s Web site was not returned on Friday.

Art Insurance Losses from Hurricane Sandy May Reach $500m (Arts Beat/New York Times)

More from Art Market Monitor

  • Bank of Ireland's Art Sale Makes It Through HurdlesBank of Ireland's Art Sale Makes It Through Hurdles
  • Phillips Meets Target For Two Themed Online Sales, Eddie Martinez Leads the PackPhillips Meets Target For Two Themed Online Sales, Eddie Martinez Leads the Pack
  • Keith Haring Mystery Container in BelgiumKeith Haring Mystery Container in Belgium
  • Plinth OffPlinth Off
  • DZ Private Bank Steps Back from Artmentum in Edelman’s CrusadeDZ Private Bank Steps Back from Artmentum in Edelman’s Crusade
  • The Scream Has No Echo for Munch OwnersThe Scream Has No Echo for Munch Owners

Filed Under: General

About Marion Maneker

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

Top Posts

  • Keith Haring’s 1989 Retrospect Comes to Sotheby’s London Prints Sale
  • Roy Lichtenstein’s Top Ten Auction Prices
  • Tony Podesta's Secret Art Buying
  • David Hockney's $20m Pacific Coast Highway & Santa Monica
  • Four of Picasso's Women Valued at $28m Come to Christie's from Rose-Walters Collection
  • Norman Rockwell's Not Gay. But Is He a Great Artist?
  • How to Chant Like an Auctioneer
  • Behind the Fireworks at Sotheby's $363 M. Sale, More than a 'Game Show'
  • About Us/ Contact
  • Jho Low Sells Dustheads for Another Loss
  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor