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Q: In a damageclaim, what's the most common marketplace for determining the fair market value of diamond jewelry? In a damageclaim, it is important to ask your client if there is a specific definition of fair market value you should use. They would like a value of the artwork before the damage and after the damage.
Personal Property Appraisal Defined A personal property appraisal is a professional, unbiased evaluation of the value of tangible assets like art, antiques, collectibles, furniture, or other personal effects. Legal and Insurance Requirements In many cases, insurers and courts require an accredited appraisal to validate claims.
Having full documentation of your valuables prior to damage will make it much easier to file a loss or damageclaim and be reimbursed for the full value. So, whether you are building a collection or making changes in a collection, an insurance appraisal will help you steward your investment for the long-term.
Although we are available to help individuals with their questions about art of any value and collections of any size, our larger projects come from those who have been collecting for some time and have amassed a collection of considerable size and value. Displays FAS also has a large warehouse space for collections storage.
Collecting trends and changes in taste have had a major impact on everything from antique furniture to folk art. Market fluctuations and rarity can have a big impact on antiques and collectibles. Condition issues, wear and tear, damage and environmental factors can also affect collectability and value.
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. I was wrong.
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