Zilkens' News Blog

Zilkens‘ News Blog 44 2023

In just 9 weeks, this for many very difficult year 2023 is already over and peace in the world seems more distant than ever, although the feast of peace - Christmas Eve - is in two months. Bloc formation is increasing and so is uncertainty about the world situation.

100 years ago the first radio broadcast went on the air in Germany, in Switzerland even a year earlier. Then, in 1928, the first television attempt. In 1926, the radio was still trusted to convey culture and knowledge to a broad population in order to make the world a little better overall. From 1933 on, it became an instrument to direct masses and to justify mass murders with the use of misinformation. In between was a Black Friday in 1929, when the stock markets went into a tailspin. High innovation and ambition lay close beside massive abuse. It reminds one a bit of supposed social media and Bitcoin. Both are changing the world - but not necessarily for the better. Control is becoming more complex as today's networks are located somewhere in the world and also in lawless spaces. In some countries, access is radically restricted and freedom is taken away. They are mostly not democracies ...

For the insurance industry, it is difficult to assess the direct and indirect risks from the network and the media. The loss of value of NFTs is an economic but not an insurable risk. There remain the classic risks stationary and in transit. And with the latter, you get what you pay for. If you think you have to transport a painting that you just bought for 1 million EUR from Berlin to London for 100.00 EUR in order to save money, you shouldn't be surprised if the insurer doesn't pay out afterwards because the packaging or the conveyance wasn't adequate.

This week, as always, Reformation Day, All Saints' Day and All Souls' Day lie directly behind each other. Many use this for a bridge, FINMA for broker training and we are available for you.

Have a week with more reassuring signals than we were allowed to receive in the last months and enjoy Kobel's 516th issue in which even Oliver Class has his turn to speak.

Stephan Zilkens and the team of Zilkens Fine Art Insurance Brokers in Cologne and Solothurn

PS - in an attempt to use AI I gave the order: Write a blog topics art,crisis, world economy, political situation, A,CH,D total 650 words. The result was amazing but boring. After that I changed the order: more in the style of Zilkens Newsblog, cheekier and shorter 400 words - The result created with Chat AI 3.5 follows here:

Title: Art, Crisis and Cha-Ching! - A critical look at DACH's art scene

If you are interested in political turmoil, economic rollercoasters and scaremongering, then congratulations, you are in the right place! Let's get back to reality - the world of art, in this case especially in Germany, Austria and Switzerland - our beloved DACH region.

Crisis? What kind of crisis?

Instead of dissolving into tears, the art scene has found some fabulously creative workarounds to overcome the current challenges. Yes, we've had to say goodbye to vernissage-free weekends, but in return we've gotten used to an online vernissage on the sofa in our pyjamas. Winner? We choose the pyjamas!

**Money, Money, Money!

Is the art market like a senior citizen's fishing chair slowly sinking into the economic swamp? Not exactly. While some parts of the world watch their fango chair sink lower and lower, the DACH countries sit back, relax, and enjoy their mineral-rich bath. Undeterred by economic setbacks, they have demonstrated their ability not only to protect but also to promote cultural heritage.

Politics and art - a romance or a war of the roses?

Recent political waves have led governments to recognize the importance of culture and the arts. Although, in truth, who needs an acknowledgement from politics when the art scene is building its own micro-world? Still, the state aid was welcome.

And now, DACH?

Despite their different political and economic rules of the game, Germany, Austria and Switzerland have one thing in common - an art scene that is more crisis-resistant than a cockroach clondyke in a nuclear power plant. They assert their position as innovators and show the rest of the world how to do art right.

So why worry about crises and the global economy when you can just sit back and enjoy some art - whether online or at a real art opening (someday). So buckle up DACH, the journey through art, crisis and cha-ching has just begun!