Promotional Feature from NFU Mutual Cobham

Whether you see yourself as a collector or an investor, you will already know that art is more than just a passion-it’s an asset. But what you may not realise is how quickly the value of modern art can shift.

Recent years have seen sharp rises and corrections across jewellery, watches and fine art. As Guy Vaissiere, Director of Valuations & Fiduciary Services, Europe at Gurr Johns, explains: “Whether it’s jewellery, watches, or fine art, after the Covid pandemic there was a significant uplift in the market, which has since corrected in the last 12 to 18 months.”

This volatility means that while the overall market has cooled, individual pieces can still see significant movement in value.

 Appetite Remains for the Right Work

Collectors are still competing strongly for the right piece. Twentieth-century British artists such as Eileen Agar, Emmy Bridgwater, Tristram Hillier, Ithell Colquhoun and John Armstrong have seen a rise in demand, while blue-chip names continue to dominate.

In fact, ten of the world’s 50 highest-priced lots in 2024 were sold in London - including Francis Bacon’s Landscape near Malabata, Tangier and David Hockney’s California, which each fetched close to £20 million.

Yet some of the most telling stories come from unexpected results. At Christie’s Modern British and Irish Art sale in March 2024, Sir William Nicholson’s The Lustre Bowl - estimated at £120,000 to £180,000 - surprised the room when it achieved £1.2 million. It’s a powerful reminder that the market rewards rarity and quality in ways that can’t always be predicted.

Even at more modest levels, the market is active. According to The Art Basel & UBS Art Market Report 2025, 95% of modern artworks sold globally in 2024 achieved prices under $50,000 (£39,000). For many collectors, these pieces quietly accumulate in value over time, often without their owners realising.

The Hidden Risk: Underinsurance

For collectors in Surrey and beyond, one of the biggest risks in a fluctuating market is underinsurance - where the value of a claim is greater than the cover you hold.

“If you haven’t had a valuation in over ten years, especially with mid-century British artists, you face a significant risk of undervaluing your collection,” warns Vaissiere. The story of Eileen Agar highlights the danger. Once available for as little as £5,000, her works are now trading between £30,000 and £40,000.

A painting that has hung on the same wall for decades could now be worth several times its original value - yet unless the insurance cover has been reviewed, its owner could be significantly under protected.

Just as overlooked artists can suddenly be propelled into the spotlight by dealers or exhibitions, the value of a collection can shift overnight. Without the right expertise and up- to-date valuations, collectors risk being left exposed.

NFU Mutual Cobham’s Bespoke Approach

At NFU Mutual Cobham, we understand that no two collections - or collectors - are the same. As specialists in NFU Mutual Bespoke Home Insurance, we help clients with high- value homes and contents over £150,000 protect their most treasured possessions. Our local team works closely with trusted professional valuation partners, who can (for a fee) assess your collections with precision. This ensures that your policy reflects today’s market realities, not yesterday’s.

Where NFU Mutual Cobham makes the difference is in the personal service we bring. We don’t just provide cover; we take the time to understand your collection, your lifestyle, and your priorities. That way, you have the reassurance that, whether your art is on your wall or loaned to an exhibition, it is properly safeguarded.

Why Regular Valuations Matter

As Vaissiere notes, “Many people don’t realise how significantly prices have moved. Whether or not you’re thinking of selling, having an accurate and up-to-date valuation is essential.”

For Cobham clients, this isn’t just about numbers on a page. It’s about knowing that your investments, passions and legacy are protected, even as the art market evolves.

Protect What Matters Most

Modern art isn’t static - and neither should your insurance be. With NFU Mutual Bespoke Home Insurance and the expertise of the Cobham team, you can feel confident that your collection is protected against the unexpected.

To learn more contact the Cobham team today.

 NFU Mutual Cobham

01932 800496

This is a promotional feature from NFU Mutual Cobham a Wentworth Lifestyle Partner