Art Appraisal Resources
AUGUST 29, 2023
Whether you're a collector, an art enthusiast, or an artist, knowing the worth of your artworks is crucial. In this post we explore art appraisals' critical role in the context of insurance. Some insurance policies even require these updates every few years.
Art Appraisal Resources
JULY 13, 2023
You should check with your insurance provider to see what is and is not covered by your homeowners or rental insurance policy. Each insurance carrier has a different policy and requirements, so it is always a good idea to check with them first. It is estimated that 50% of the art in the market is fake.
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International Society of Appraisers
APRIL 19, 2024
One question you should ask yourself is “am I properly insured if something catastrophic happens?” They consider factors such as an artist's reputation, rarity of the piece, quality of materials, provenance (history of ownership), and market trends. Their expertise ensures that the valuation is accurate.
ASA Newsroom - Gems & Jewelry
MAY 1, 2024
Insurance industry terminology such as risk, premium, loss, deductibles, coverage limits, and perils are some of the fundamental concepts appraisers must grasp. Different property insurance policies have unique features and limitations. The Claims Function People buy insurance policies for protection against financial loss.
ValuePros Appraisal Services
MARCH 23, 2018
The specific event can send ripples through the entire genre and certainly impact the value of other works by that specific artist, in this case positively. Conversely, a low auction sale can impact a genre and other works by the artist. While rates vary by insurer, on average you’ll spend 50 cents per $100 of coverage.
Drishti LLC Appraisers
APRIL 16, 2021
For insurance purposes, the appraisal report is written for replacement value. For one-of-a-kind artworks, the basis for comparables is usually other works by the same artist, or artwork of similar renown, age, materials and genre. It is not used for forced sale or bankruptcy situations.
Art Peritus
FEBRUARY 17, 2023
KZ: I’m a fan of Hilma af Klint, a Swedish artist who had a popular retrospective at the Guggenheim Museum in 2019. Appraisals are important not only to make certain you are appropriately insured, but it can also help you make smart decisions about charitable donations, gifts to family members or making the decision to sell the work.
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