Stolen Treasures: How To Protect Your Art, Jewelry, and Collectibles From Theft

Estimated losses from art theft and cultural property crime run as high as $6 billion annually. Do you know how to protect your art and collectibles from theft?

By Famin Ahmed, NCPC Staff

At 1:24 a.m. on March 18, 1990, thieves disguised as police officers stole 13 paintings, including a Vermeer and three Rembrandts, from the Isabella Stewart Gardner museum in Boston, MA. The paintings have still not been recovered 18 years later, making this art theft one of the biggest in U.S. history.

Art and cultural property crime is a booming business, with estimated losses running as high as $6 billion annually, according to the FBI’s Art Theft Program. However, what many don’t realize is that art theft isn’t just limited to large museums—many treasures are stolen directly from private homes.

Think this doesn’t apply to you because you never inherited a Norman Rockwell? Think again. What about that collection of vintage baseball cards your dad left you? Or the Bobbsey Twins novels your grandmother read as a child? Maybe you have a passion for rare vinyl records? A second printing of Secret at Red Gate Farm, the sixth book in the Nancy Drew mystery series by Carolyn Keene, sold for $395 on eBay in 2004. The current eBay “Buy It Now” price for a 1933 Goudey Lou Gehrig baseball card is $1,499.99. The Buy It Now price for a vintage Superman comic book from 1952 is currently $145. In good condition, many collections are not only worth a lot of money but, like art, they also have a high sentimental value that can never be replaced.

Many people are not aware that their homeowner’s insurance policy might only cover personal property and not include valuable art or collectibles. Dan Walker, of Collectibles Insurance Services, LLC, said that a homeowner’s policy might limit the collection to a percentage of the value of your home or they might be limited to the actual cash value of the item rather than the collectible value. Insuring art, jewelry, and collectibles separately is one way to protect your treasures. Here are a few more.

• Keep an inventory with detailed descriptions of the items—type, title, date or period, materials used, measurements, inscriptions, and any other distinguishing features. Then, keep this list in your bank’s safety deposit box with other important records.
• Save receipts showing how much you paid for an item.
• Get an official appraisal of jewelry, art, antiques, and collectibles; update that appraisal every two to three years.
• Videotape or photograph your items or full collection. If you’re videotaping, audibly describe the item, when you bought it, and how much it cost.
• If your collection is displayed in your home or is housed in a storage area, review overall security measures and fix any holes. Check over the collection regularly to make sure all the pieces are still there. If you have strangers working in and around your home or storage facility, check their references.

Don’t forget to do your own due diligence when purchasing pieces to add to your collection as well. When buying antiques or artwork, stick with reputable dealers and auction houses that perform due diligence information. Check the Better Business Bureau for complaints and carefully review sellers’ feedback profiles on online sites like eBay before you buy. Sellers should be able to guarantee that the art is not stolen and that they have researched the piece’s chain of ownership or “provenance.” An artifact’s provenance is also a good way to check on the piece’s history, rather than just relying on the certificate of authenticity.

If you find that one of your treasures has been stolen, file a police report immediately. Ask if your police department is registered for LeadsOnline, a browser-based national system used by authorized law enforcement agencies tracking stolen property. Thousands of businesses that receive merchandise from the public (secondhand stores, pawn shops, music stores, etc.) register their transactions on LeadsOnline, making it easier for law enforcement to track down stolen items. For Internet-related property crimes, you can also contact the FBI’s Internet Crime Complaint Center. If you spot one of your stolen treasures on eBay, click on the “Report this item” link at the bottom of every listing and contact the eBay Security and Resolution Center.