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Ron Perelman's $410m insurance trial is testing the limits of art valuation

The Art Newspaper

Again, the debate focused less on physical condition and more on perception, and its impact on price. Selvin adds, “However, if the case proceeds to litigation, and market conditions have shifted since the loss occurred, either the claimant or the insurer may request an updated appraisal to reflect current market values.”

Insurance 157
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Why Get a Diamond Appraisal for Your Engagement Ring

GIA 4Cs

The appraisal also records the precious metal used for the setting and the approximate weight and quality of any side stones or melee diamonds that it contains, as well as the quality of the workmanship and overall condition of the ring. An appraisal may be needed for a variety of reasons (insurance, donation, estate, divorce, etc.).

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Office Hours Information from March 2025

International Society of Appraisers

There are different marketplaces depending on many factors, including: urgency to sell, quantity, condition of the property, and the quality of the items. The type of value before and after the loss will be dictated by the client and is based on how the insurance policy is written or the particular situation at hand.

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Passion Assets: A True Love of Collecting

Art Peritus

However, the qualities that make passion assets so precious to collectors also expose them to unique risksrisks often not covered by standard homeowners insurance policies. Several nuanced factors determine the value of passion assets, including rarity, quality, condition, and provenance.

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The Art of Appraisals: Understanding their Vital Role in Insurance

Art Appraisal Resources

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.

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The Role of Jewelry Appraisers in Insurance Valuation

Buckhead Jewelry Appraisers

So you’ve just inherited your grandmother’s vintage diamond ring, only to find out it’s not covered by your insurance policy 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.

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How To Determine If You Need An Art Appraisal

Art Appraisal Resources

Appraisals are crucial in the art market, providing essential information about artworks' value, authenticity, and condition. Whether you are a seasoned collector, an art enthusiast, or someone looking to sell or insure a piece of art, understanding when to seek an art appraisal is essential.