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There are different marketplaces depending on many factors, including: urgency to sell, quantity, condition of the property, and the quality of the items. What is the quality of diamond jewelry? When determining fair market value, we use the sales comparison approach to analyze comparable sales data (i.e., sold prices).
An insurance appraisal seeks to provide an estimated cost of what a collector would require to make the collector whole again if their art is ever damaged or stolen. Loss-on-value can’t be determined until after a work of art has been repaired. The quality of the repair absolutely needs to be taken into consideration.
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