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Protective Measures For fine paintings, prints, and photographs, museum-grade framing is essential. Collectors should consider separate art insurance coverage instead of relying solely on traditional homeowners insurance. Ensure sculptures are anchored securely to their bases to withstand high winds or seismic activity.
Many insurance companies require a professional art appraisal to determine the appropriate coverage and premiums. Consulting with a qualified and experienced art appraiser will help you navigate the complexities of the art market and make informed choices regarding your artwork.
Katja consults with collectors as well as insurance and financial advisors on the physical and financial protection of their passion investments. B: When considering insurance, what is the difference between Blanket and Scheduled insurance coverage for collectibles? And a “qualified appraiser” is key.
Early on in our conversation, Adrienne answered the “When” question by saying “If you can walk around your house and you determine that you have more than 5 artworks that exceed $10,000 each in value, you should consult an agent or firm that specializes in fine art insurance.” I was wrong.
Over the years, I have spent a lot of time on the phone trying to help people determine if the painting they found in a garage sale is worth anything. I took no pleasure in having to explain that they had one of the many reproductions of the painting and their hopes of having won the art lottery was only a lovely dream.
Whether you inherited a painting, purchased a piece years ago, or are considering donating to a museum, there are many reasons why an appraisal might be necessary. Many insurance companies require a professional valuation to determine an appropriate coverage amount. The estimated value is lower than the cost of an appraisal.
Whether its a rare painting, an outdoor sculpture, or a set of antique silverware, caring for these pieces ensures their survival. If you own paintings, carefully consider where they are displayed. Insurance & Documentation: Proper insurance coverage can protect against theft, loss, or damage.
4 Saturday, November 16, 2024 Morning Session Summarized by Alice Craigie , Modern Painting Fellow National Gallery of Art, Washington D.C. The Fine Art Insurance policy offers coverage starting at $75,000, with careful consideration given to the potential maximum value of artwork. Naval Lodge No.
At their worst, these documents are written with tricky and/or inaccurate information and are provided to naive buyers in order to paint a layer of respectability and security over the sale of fraudulent or ‘decorative-only’ reproductions by well-known artists.
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