Be it a Tardis, light sabres or original film posters, private art collectors are reaching ever greater weird and wonderful heights with their extravagant purchases.
In the last few weeks a former Doctor Who fanatic has decided to de-clutter his home by selling around 1,000 items from the hit Sci-Fi drama. These include an authentic working Dalek, two life-size Cybermen and a scale model of the Doctor's robot dog – K-9. His garden even houses a full-size Tardis replica.
Meanwhile in the US, a poster for the original King Kong blockbuster was sold at a movie memorabilia auction for £180,000. The 81square inch colour poster was billed as the best example of the last three billboard ads known to exist that promoted the famous 1933 movie.
Also up for grabs at the two-day sale at Calabasas, California, was an original Star Trek phaser fired by William Shatner as Captain James T Kirk, which was beamed up for £8,400. A full-size, armour plated, animatronic penguin from 1992’s Batman Returns fetched £6,000, while a velociraptor from Jurassic Park II was sold for £60,000.
Richard Evans of Aon Private Clients says that despite their niche appearance, such items would be treated like any other when it comes to the insurance policy. He explains: “Most fine art policies are full-risk, meaning they will cover everything from damage to the particular item to loss in transit. There are no exclusions, except the usual damage resulting from a nuclear/biological attack.
“The insurance policy will last throughout an auction stage should the collector decide to cash in on his/her memorabilia. Some auction houses may try to sell you policies separately, but if you are with a reputable insurance brand, then that will not be necessary.”
With fine art insurance, the buyer is also covered for any depreciation in value of the collection item. Evans continues: “If, for example, a Doctor Who collector has his Tardis damaged, we can get it fixed by the best Tardis fixer in the country. If, because it is damaged, it has to be sold for less than the original price, the policy would make up the difference.”
Because collectors often flit between what memorabilia is in vogue, insurers have added an automatic acquisition clause to the policy.
“If the collector wants to turn their attention away from Doctor Who and buy some Star Trek gear, they do not have to buy cover again. If the items are within 10-20% of the current collection value, they report it within 30 days, pay any additional premium, and the policy continues to run,” adds Evans.
