I noticed that, but instead of jumping straight to "why should I make a service for rich fools?" I thought to myself "what other similar use-cases are there?"
If you buy an engagement ring and the proposal gets rejected, you get stuck with a depreciating asset which is hard to sell for anything, let alone for what you buy.
Still too high-net-worth for you? Insurance for used-car problems that you don't have to buy from the used car dealer that sells you the car. There's an inherent conflict of interest in a dealer selling you a car and then selling you the hedge against problems with that car.
I watched a Charlie Rose interview this week with a famous comic writer who was proud to work in comics, as opposed to painting. His logic was that average people feel dumb and that they are "missing something" if they look at a painting and "don't get it". When you look at a comic and you "don't get it", you are more likely to think the comic is trash and that there is nothing "to get". Similarly, I think the pretentiousness of art gallery sales people is a pressure tactic to get you to buy something you don't really value. I don't think insurance-after-the-fact solves the incentive mismatch for fine art.
If you buy an engagement ring and the proposal gets rejected, you get stuck with a depreciating asset which is hard to sell for anything, let alone for what you buy.
Still too high-net-worth for you? Insurance for used-car problems that you don't have to buy from the used car dealer that sells you the car. There's an inherent conflict of interest in a dealer selling you a car and then selling you the hedge against problems with that car.
I watched a Charlie Rose interview this week with a famous comic writer who was proud to work in comics, as opposed to painting. His logic was that average people feel dumb and that they are "missing something" if they look at a painting and "don't get it". When you look at a comic and you "don't get it", you are more likely to think the comic is trash and that there is nothing "to get". Similarly, I think the pretentiousness of art gallery sales people is a pressure tactic to get you to buy something you don't really value. I don't think insurance-after-the-fact solves the incentive mismatch for fine art.