Insurance Policy Paintings Valuation 
The Art Newspaper
JULY 18, 2025
At the heart of the case are five paintings, allegedly worth over $410m, by Cy Twombly, Ed Ruscha, Andy Warhol and others, which Perelman claims were significantly damaged in a 2018 fire at his East Hampton estate. Part of the answer lies in the subjective nature of art valuation. The dispute is not without precedent.
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. An impartial valuation can eliminate a lot of conflict with family members so they know what they have and can sell in the most appropriate marketplace.
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Artifactual History Appraisal
SEPTEMBER 17, 2019
All appraisal reports written in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP) have to include identification of the level of the market the appraised values are set in and the effective date of the valuation.
What Is It Worth?
MARCH 7, 2024
You’ll need a fair market valuation and a suggested asking price. Do you want to include your item on your homeowner’s insurance policy, or do you want to donate it and/or write it off your taxes? Then you’ll need an insurance or replacement valuation. Do you want to sell it?
Art Peritus
FEBRUARY 17, 2023
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. These types of valuations are not accepted. After that I immediately switched my insurance company.
Art Peritus
SEPTEMBER 3, 2024
Establishing the Value Collectors who are just getting started often rely on their homeowner’s insurance policy to cover the value of their valuable items. Many policies offer blanket protection, and major insurers such as Chubb do not require appraisals for items worth less than $250K.
Fine Art Estates
JUNE 4, 2021
I naively “assumed” that the word “All Risk” meant just that, and all my personal property was covered up to the amount stated on my policy’s declarations page. I now realize that HO insurance is designed to insure your home, not protect your art collection. Only the specific artworks scheduled on the policy are covered.
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