Foreword
Welcome to Luxury Lens 2024
Last year saw the launch of Lockton’s inaugural Luxury Assets Report, bringing together our expertise in risk and insurance management to provide a series of insights across key luxury trends. It was the product of much hard work, and we were pleased to see it receive such a fantastic reception.
The report returns in 2024, albeit with a new name: Luxury Lens, a change that recognises the unique perspective that Lockton, as the world’s largest independent insurance brokerage, brings to the luxury market. This is a critical year for luxury – one of ongoing economic uncertainty and significant political upheaval, with democratic elections in the US still to come, following those in the UK, India, and elsewhere. In this climate, it’s our belief that bespoke insurance and risk solutions will have an ever-greater role to play in protecting what matters most to you.
For this year’s edition, we’ve joined forces with partners and friends from across the luxury sector to produce a series of insights on a range of interesting topics. Our Motor segment kicks things off, discussing the impressive rise of the McLaren F1 as an investment asset, aided by RM Sotheby’s invaluable insight. Accompanying this, V-Management offer their essential tips for keeping your cherished vehicles in pristine condition. Elsewhere, in our Travel segment – a new addition to Luxury Lens 2024 – we speak to Quintessentially Lifestyle about the trends shaping recent getaways, and why ‘luxury’ doesn’t always mean ‘the most expensive’.
Also inside, Bonhams’ Meg Randell offers up her tips for buying on the booming fashion and handbags secondary market, andspills the beans on the latest sartorial trends. We also interview renowned interiors designer Francis Sultana about the importance of ‘timeless’ design. Our Wine segment explores the cellar’s starring role in so many contemporary homes, courtesy of insight from cabinet maker Halstock. We also offer our top tips for storing and protecting your wines. And finally, Lockton’s art experts reveal their key considerations for owners looking to loan out their works, while we hear from Gurr Johns and Ben Clark, President of Mintus, on the growth of fractional art ownership.
Once again, we hope this edition offers you some interesting food-for-thought, and serves as a worthwhile guide to a predictably unpredictable risk landscape.