This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
While this quote often captures the inexplicable nature of human desire, it also resonates with the motivations behind collecting. Whether its choosing a potential mate or pursuing a coveted object, the pull of desire remains the same when it comes to collecting. This makes it critical to secure proper coverage.
In this post we explore art appraisals' critical role in the context of insurance. Understanding Art Appraisals An art appraisal is a professional evaluation of the monetary value, authenticity, and condition of an artwork. Appraisers evaluate the condition of the artwork, any damage or restoration work can impact its value.
So you’ve just inherited your grandmother’s vintage diamond ring, only to find out it’s not covered by your insurancepolicy because its value wasn’t properly appraised. It’s based on the cost of repairing or replacing the jewelry in its pre-loss condition, taking into account factors like wear and tear and changes in market value.
There are different marketplaces depending on many factors, including: urgency to sell, quantity, condition of the property, and the quality of the items. A collection of unbranded jewelry that has no celebrity provenance may sell at a local or regional auction house. The marketplace will depend on the type of property being appraised.
You want to make sure you’re updated on the current value of your collections. Description of jewelry Material composition Gemstone details Design characteristics Condition assessment Hallmarks or maker’s marks Any unique features or markings 2. Collect relevant documentation about your valuables. Photographs of jewelry 3.
Surprisingly, many collectors of “passion assets” don’t think to protect these valuables with insurance. Often the misconception is that only blue-chip collections worth millions of dollars require this kind of specialized protection. This is especially true when one considers how remarkably specialized these policies can be.
Understand Your Homeowner’s InsurancePolicy The biggest problem I see after a devastating loss is underinsurance, meaning that homeowners suffer a loss yet fail to recover tens of thousands of dollars just at the time when they have lost everything they hold dear. Keep a copy of the insurancepolicy handy too.
Insurance industry terminology such as risk, premium, loss, deductibles, coverage limits, and perils are some of the fundamental concepts appraisers must grasp. Different property insurancepolicies have unique features and limitations. The Claims Function People buy insurancepolicies for protection against financial loss.
One of the most important reasons to update an appraisal for artwork is to provide documentation of current condition. Condition of an artwork is a significant factor in determining value. Secondly, an updated appraisal will make sure your collection is insured at an appropriate level.
In this blog post, we explore the crucial role of insurance appraisals in safeguarding your art collection, providing insights into why this process is indispensable for every art enthusiast and collector. In conclusion, insurance appraisals are a vital component of responsible art collection management.
You've got some antiques you inherited from your aunt, a small but growing collection of vintage Star Wars toys, and that mysterious oil portrait of two little kids that you picked up at a second-hand store a few years back. You don't really know that much about what these things are really worth. Do you need an appraisal?
A skilled appraiser carefully studies the history, authenticity, and condition of each item to determine their worth. A professional appraiser is one who has received training and area certified in the accurate assessment of value, authenticity, condition, and other important aspects of antiques, fine art, and other personal property.
Jewelry appraisals are required for most insurancepolicies. The value of jewelry is influenced by a combination of factors that collectively determine its worth in the market. High-quality photos of the jewelry from various angles to show its condition and design. What factors influence jewelry value?
Finding a reputable Albuquerque jeweler that can make repairs is critical for restoring your pieces to their original condition. Does insurance cover jewelry repair? Insurance coverage for jewelry repairs depends on the specific terms and conditions of your insurancepolicy.
Three Insurance Experts Explain the Intricacies of Insuring Your Art Collection I am often asked by clients if they should cover their art under their homeowner’s insurance (HO) or if they should investigate insuring their art with a separate fine art collectors’ policy. I was wrong.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content