Zilkens' News Blog

Zilkens' News Blog 4 2024

Paintings don't scream or even need food when they are being transported. For example, a Picasso and a Chagall, which were stolen in Tel Aviv in 2010 together with diamonds worth around EUR 700,000, could not be found until last week, when they were discovered by the police in Antwerp. Diamonds and Antwerp have a common history. This is not quite so pronounced with Chagall and Picasso. Perhaps that is why someone tried to sell the works after 14 years. However, this brought the police onto the scene and led to a successful investigation. In 2010, the paintings are said to have been worth EUR 840,000 - probably more than three times that amount today - and now comes the good news for the art insurers, provided that the works were insured. Many policy conditions regulate the repurchase of lost works. In most cases, the former owner is entitled to a repurchase right based either on the amount paid for the loss or on this amount plus costs and, in rare cases, plus interest. It is therefore quite possible that the original owner is no longer in a position to repurchase the work - and then the insurer has its fun.

This week sees the start of Art Geneve in Geneva. The first event of its kind in Europe - soon to be followed by Art Karlsruhe in February as the first major fair in Germany. From Singapore, where Art Singapore has just ended, we hear that the regional fairs are possibly more interesting than the Art Basel (wherever it takes place) and Frieze's around the world, which always follow the same pattern. You can certainly see different art and above all art from other regions. Art Dubai starts in February in a region where some fears of contact do not exist - but others do.

The trip to Mexico for the creative industries is being organised by the Ministry of Economic Affairs and Climate Protection, and the Federal Association of German Galleries is only providing support. That probably didn't quite come across last week.

Russia has been bombarding Ukraine for almost 700 days, senselessly destroying people, homes, factories, cultural institutions and world heritage sites. The economic forum in Davos has now come to an end. 'Deciding your tomorrow' was the title of Ukraine's pavilion, designed by Bjorn Geldhof and the Pinchuk Art Centre, which was named the best pavilion at the World Forum. Congratulations from our side too.

A good start to the week and all the best for your work

The Zilkens Fine Art Insurance Broker GmbH team in Solothurn and Cologne