Because artworks are precious things, ensuring them is vital. Artsper met up with Judith Goldnadel, art insurance broker at Siaci St Honoré, for she can tell us about this rarely talked about yet essential side of the art world.

{Artsper} Can you tell us about your career path and education?
{Judith Goldnadel} After studying law and political sciences, I started my career at Sprinks, a British insurance company. I naturally joined the insurance world walking in my father and grandfather’s footsteps. Quickly I became head of the department that delt with high risk and artwork insurances.

In 1991, I created A.R.T., an insurance agency in partnership with SIACI. In 1997, I became CEO of A.R.T after we bought SIACI’ shares.
In 2008, I started the SANDERS agency specialized in artwork insurance in Genova.

Under my management, A.R.T’s team grew and acquired a double expertise in artwork insurance and the art market.

{Artsper} What does the art sector of SIACI consists of?
{Judith Goldnadel} SIACI is the fourth company of insurance brokerage and counselling in France working with 1,500 partners. Each sector is specialized and A.R.T is the branch that specializes in artwork insurances. A.R.T benefits from a relative independence from SIACI, which allows us to adapt to the needs of our clients from the art world.

A.R.T is the intermediate between specialized insurance companies on one hand and private art collectors, museums, cultural institutions and art professionals on the other hand.

{Artsper} What are the qualities required to be a good artwork insurance broker?
{Judith Goldnadel} First of all, one has to be an expert in insurance, have the discipline required to work in a field which essentially deals with legal and financial matters. Then it is important to listen to the client’s needs and adapt to the specificities of the art market, be flexible, discreet and keep up with the evolution of the art market.
Artworks insurances are tailor-made products, we often have to be creative.

{Artsper} What is the Art Family Office?
{Judith Goldnadel} Art Family Office is a service we offer to art collectors.
We take care of ensuring the entirety of a collection, from value estimate to the insurance itself.

{Artsper} What kind of partnerships do you have with cultural institutions?
{Judith Goldnadel} We have partnerships with the art foundations which artworks we ensure. These foundations promote specific artists and collections, and encourage art patronage. Ensuring their artworks means associating our name to their projects and their institutions to the eyes of the actors of the art market.

{Artsper} What kind of future do you see for A.R.T?
{Judith Goldnadel} We continue to better our expertise and know-how, we remain open and look for new kinds of clients to offer them new types of insurances.
We have opened a “museum” specialty almost a year ago focusing on ensuring major exhibitions specifically.
We have partnerships in France and abroad since we adapt to the globalization of the art market.

{Artsper} Why was the auction of Pierre Bergé and Yves Saint-Laurent’s collection –that you have been ensuring for years- the first of its kind?
{Judith Goldnadel} It was said to be « the auction of the century ». The number of artworks on sale was impressive as well as their quality. The auction hit several record prices and the exhibition organized at the Grand Palais before that met a tremendous success.
Our part as an insurance broker was to anticipate and foresee everything.

{Artsper}: What do you think of the increasing practice of buying art online, and of platforms such as Artsper?
{Judith Goldnadel} Internet is an amazing opportunity for the art market to grow. More and more actors of the art market use this new channel to sell art.
For us, it is the birth of a new kind of art professionals, a new branch of activity, at the crossroad of galleries, experts, auctioneers, for which we might have to create new insurance products in the future.

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