Insurance: With prices in the art market soaring, collectors should get up-to-date appraisals. But beware: As art values rise, so do insurance premiums.

Shipping: A FedEx overnight tube won’t do. To transport valuable works of art, collectors must hire the services of specialized companies that can provide adequate safety and security.

Framing: Proper framing both enhances and protects a work’s value.

Installation: Sometimes the artist’s presence may be required to install a piece, particularly with installations or video art. "Some artists will do that as part of the service for a valued collector; sometimes there is a charge for that," says Bill Brady, owner and director of the ATM Gallery.

Lighting: For some works—particularly photographs or works on paper—ensuring that a room is not too bright is critical to preserving the items. The solution may be to install dimmer lighting or blackout shades or to create specialized display cases. A growing number of collectors not only install nonreflective glass that protects the work underneath from ultraviolet light, but also put in the same kind of glass in the windows of any rooms in their home where they display art.

Security: This most fundamental way of protecting one’s investment is not negotiable. Insurers often require that owners invest in elaborate—and often expensive—security precautions.

Repair: When a work is damaged, its owner must try to salvage what is left by hiring restorers to make repairs. Insurance will likely cover some of this cost.

 Suzanne McGee is a Brooklyn, New York–based financial journalist and a regular contributor to Worth.

Additional Information
 Unavoidable Risks