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Create a disaster response checklist that includes: A list of priority artworks Instructions for emergency packing and transport Contact information for art conservators, insurers, and professional art handlers Safe evacuation routes and storage locations 2. Sculptures and mixed-media pieces should be placed on stable surfaces.
Desantis Should You Consider Insurance? Surprisingly, many collectors of “passion assets” don’t think to protect these valuables with insurance. However, in truth there is no “minimum value” to mandate insuring one’s treasured valuables and virtually ALL collections can benefit substantially from being insured.
Art appraisals are a crucial step in determining the value of your art, whether for insurance, donation, resale, or estate planning. Different appraisers may have expertise in specific types of art, such as paintings, sculptures, or antiques. It is essential to have an accurate valuation of your fine art.
Art Peritus recently sat down with Katja Zigerlig, Vice President, Art, Wine and Collectibles Advisory at Berkley One, a Berkley Company (WRB) to discuss the nuances of collecting and insuring Fine Art. I’ve seen martini glasses placed on a Donald Judd sculpture by unaware party guests. These types of valuations are not accepted.
In the intricate tapestry of the art world, museums stand as bastions of cultural heritage, preserving and showcasing the diverse narratives encapsulated in every brushstroke and sculpture. Accurate Valuation for Acquisitions: Museum collections evolve through acquisitions, and accurate valuation is paramount in this process.
The market value of artworks can fluctuate, making periodic appraisals essential to ensure that your collection is adequately insured. This is particularly crucial for accurate valuation, minimizing potential issues during estate settlements or when claiming tax deductions for charitable contributions.
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 fine art collectors’ policy.
Your insurance agent has suggested that you need your art or jewelry appraised in order to put them under rider coverage. The standards include the need for the appraiser to have no financial interest in the outcome of the valuation. There are many reasons you might need an appraisal of personal property.
The morning session was attended by 39 people and featured four in-depth 30-minute presentations that covered various topics, including contracting essentials, legal entity setup, business insurance, and taxation. Caseys presentation broke down insurance essentials alongside various types of insurance T Block offers.
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