London, UK (07 October, 2010) – Ahead of this years Frieze Art Fair, which begins in London on Thursday 14 October, Robert Read, fine art expert at specialist insurer Hiscox, comments:
"The Frieze Art Fair is not just a playground for the super rich but a magnet for passionate collectors of cutting edge art. Hiscox estimates that the total value of the work on exhibition will be approximately USD 375m,with most works selling comfortably below the USD 100,000 mark. The contemporary art market in 2010 has proved stable and settled after the gyrations of previous years."
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Hiscox, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). There are three main underwriting parts of the Group - Hiscox London Market, Hiscox UK and Europe and Hiscox International. Hiscox London Market underwrites internationally traded business in the London Market - generally large or complex business which needs to be shared with other insurers or needs the international licences of Lloyd's. Hiscox UK and Hiscox Europe offer a range of specialist insurance for professionals and business customers, as well as high net worth individuals. Hiscox International includes operations in Bermuda, Guernsey and USA. Hiscox Insurance Company Limited, Hiscox Underwriting Limited, Hiscox Europe Underwriting Limited and Hiscox Syndicates Limited are authorised and regulated by the Financial Services Authority.
For further information, visit www.hiscox.com.