Monthly Archives: June 2013

Nearly five years in, Museo Vault reports solid growth (Miami Herald)

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By Hannah Sampson

What happens if you open a storage facility for fine art — right in the middle of a recession?

For Museo Vault, a storage and services company that opened in Miami’s Wynwood arts district in late 2008, the answer was: struggle for awhile, concentrate on winning local clients and grow slowly but surely.

“Even the wealthiest people and collectors were not spending money,” said Todd Ruderman, managing partner of Museo Vault and president of Value Store It Management. “We had to work very hard and there were definitely a lot of challenges to get it up and running. The one thing we didn’t realize, which now makes a lot of sense, is you have to prove yourself. We had a lot of hurdles, but we got over them.”
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Museo Vault, art storage facility in Miami, FL

The Importance of Storm Protection Within the Art Storage Industry

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As important as it is to have a Monet in your collection, it’s just as important to keep it in an art storage facility built to the highest specifications of the art insurance industry. Museo Vault, located in Miami’s Arts District, is home to some of the finest art collections, antiques and other valuable items. It’s unique feature in Miami, is that it’s located at the city’s highest point of elevation, 18.4 feet above sea level. Museo Vault also offers Hurricane Contingency Plans to grant priority response to art collectors looking to ensure that their art is protected during a storm.

Museo Vault, art storage facility in Miami, FL

Museo Vault – Fine Art Storage Facility in Miami, FL

In case collectors needed more incentive to store their art out of reach of floodwater, here’s some: They may have to in order to get it insured. “It’s fair to say that companies insuring fine art are going to take a good look at exposures of basements and grade-level space and ask how high it is off the ground and how vulnerable it is,” insurance company DeWitt Stern’s managing director Steven Pincus tells the New York Times. “They may introduce more restrictive contracts.” In the wake of Hurricane Sandy, which had art insurers paying out claims from a few thousand dollars to eight-digit figures, companies are recalibrating and focusing their policies.

In a feature on the various behind-the-scenes industries that kicked into overdrive following the hurricane, including suddenly-overworked art restorers, art storage companies, and insurers, the Times notes how the thousands of artworks damaged or destroyed by the super-storm forced companies to re-evaluate their policies.

“We didn’t accept wet work,” said Mark Charest, the director of operations director at Brooklyn-based art storage, transportation, and installation company Winchester Fine Art Services. “We’re not set up to handle it. We didn’t want art coming in that had mold.”

Art conservators and restorers were similarly overwhelmed. “So many clients were contacting me,”Gloria Velandia, the New York-based conservator for Art Basel Miami Beach, told the Times. “‘I love the work,’ they were saying. ‘Can you save it?’ […] You almost have to recreate the flood… You create saline solutions, for example. You have to get the balance right.”

For the full story visit Art Info