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Recently I wrote an article for Worthwhile Magazine™ titled “A Consumer’s Guide to Insurance Appraisal Reports: Do You Need One and How to Get One?” In my own appraisal firm, I answer many questions from potential clients who are unsure if they need an insurance appraisal report or what the process is to get one.
Value matters, and when it is time to find a qualified art appraiser for your collection or an individual work of art, there are ways to help you find the right fit for your needs and types of art. Art appraisals are a crucial step in determining the value of your art, whether for insurance, donation, resale, or estate planning.
It’s crucial to have an accurate understanding of their replacement cost, especially when it comes to insurance purposes. In this blog entry, we’ll discuss whether a person should get their antiques appraised for insurance purposes. This appraisal is used to issue an insurance rider on your homeowner’s policy.
There are numerous reasons to seek a professional appraisal, including planning insurance coverage, charitable donations, probate of an estate, or simply determining the value of your tangible assets. Whether you're dealing with art, antiques, furniture, jewelry, or other possessions, an appraiser can give you a valuation.
As a personal property appraiser, my role encompasses tangible property including fineart, antiques, furniture, and collectibles. Reasons of valuations for tangible property can include estate and probate purposes, equitable distribution, insurance coverage, charitable donations, dissolution of marriage, and bankruptcy.
An appraised value for insurance may be significantly higher than an appraised value for planned future sale, which can be baffling and difficult to comprehend without a familiarity with the different levels of the market. It can sometimes be present in insurance policies, although in my experience it is much less frequently encountered.
Written by Kirsten Rabe Smolensky, JD, ISA CAPP As an appraiser, I have worked on a lot of insurance claims , including losses due to fire, theft, transit damage, and flood. The number one mistake most insureds make is not being prepared in advance. The insurance company requests an inventory of EVERYTHING inside.
February is dubbed the start of “Burst Pipe Season” at Art Peritus. The time of year when calls to our Art Crisis Management team are on the rise from clients and insurance adjusters reporting water-related damage to artwork, furniture, and other valued possessions.
February is dubbed the start of “Burst Pipe Season” at Art Peritus. The time of year when calls to our Art Crisis Management team are on the rise from clients and insurance adjusters reporting water-related damage to artwork, furniture, and other valued possessions.
Although an interesting design idea, and maybe the only place the owner of this house had to hang this suite of works, it presents a very dangerous hanging problem that needed to be addressed by a professional fineart services company, not the furniture mover.
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 fineart collectors’ policy.
FINEART: A. FURNITURE: A. For furniture, ask the client to shoot when house is lit up (mid-day) but do not shoot pieces in direct bright light 6. For very large pieces, make sure you get “scale:” put a person in the frame (this can be especially important with insurance shots) 9.
If you are concerned about moving an artwork yourself, get several quotes from professional art moving companies. Even though they are generally more expensive than furniture moving companies, they carry the proper packing and securing materials on their trucks. They only have blankets and stretch wrap.
While the workers do their thing, you have determined that the furniture can be moved to the center of the room and be protected via drop cloth, but where and how should you temporarily store your art for the next two weeks while the paint dries? So, you have decided to paint the living room.
In early 2022 Art Peritus launched AP Selects, an online sales venture in which clients can consign art and furniture for sale through the business website, as well as on 3rd party independent online platforms including Incollect.com. We are also well known for the damage and loss appraisal work we perform for insurance claims.
And while the UBS 2023 Global Wealth Report , ARTnews, and The Art Newspaper (to name a few) provide exceptional insights into the year ahead, we at Art Peritus wanted to focus on something more evergreen: Provenance, an important element that can have a profound impact on an item’s value.
Your insurance agent has suggested that you need your art or jewelry appraised in order to put them under rider coverage. Residential Contents appraisers routinely handle all the furniture, rugs and decorative items that are normally encountered in a home. There are many reasons you might need an appraisal of personal property.
Ela | ASA, FineArts, MBA | President | Comprehensive Art Services, LLC Patrick Ela, ASA is the President of Comprehensive Art Services, LLC, and has 20 years of experience in valuing fineart. He public art consultant.
This includes real estate and personal property, such as furniture, antiques, artwork, and general residential contents. Depending on the state, the inventory must be submitted within a specific timeframe, which can range from 30 to 90 days after the estate is opened.
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