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Why do you need to have extra insurance coverage for fine art & jewelry?

International Society of Appraisers

” Specifically, many people may not realize that traditional homeowners insurance policies typically have coverage limits that may not be sufficient to adequately protect high-valued property such as fine art, jewelry, or luxury items. Their expertise ensures that the valuation is accurate.

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The Importance of Contemporary Art Appraisals

Art Appraisal Resources

When Might You Need a Contemporary Art Appraisal? Art Acquisitions Art collectors, museums, galleries, and private individuals interested in purchasing contemporary Paintings, Sculpture, Photography, or Fine Art Prints might seek an appraisal to ensure they make an informed investment.

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Passion Assets: A True Love of Collecting

Art Peritus

The term collectionor more specifically, art collectionoften evokes thoughts of fine art and antiques. This makes it critical to secure proper coverage. Several nuanced factors determine the value of passion assets, including rarity, quality, condition, and provenance.

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How To Determine If You Need An Art Appraisal

Art Appraisal Resources

Appraisals can also assist in establishing provenance, which can significantly impact the value of the artwork. Many insurance companies require a professional art appraisal to determine the appropriate coverage and premiums. You do not need a formal written appraisal to sell most fine art.

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Protecting Your Collection and Your Wallet: What You Could Lose If You Suffer a Loss Without an Appraisal

McAllister Fossum Appraisal Services

If you understand these commonalities, you can ask the right questions to ensure that your coverage is adequate. Most homeowner’s policies have a total coverage limit for household contents that is based upon a percentage of your home’s value. At this point, you know you have at least $7,000 worth of fine art.

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Office Hours Information from March 2025

International Society of Appraisers

high end, branded, celebrity provenance) is going to sell at a high-end international auction house like Christie’s. A collection of unbranded jewelry that has no celebrity provenance may sell at a local or regional auction house. Chapter 11 in the Core Course Manual discusses insurance coverage and claims.

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Understanding the Different Levels of Value: It’s Worth What Where and When?

Artifactual History Appraisal

When applicable, sales and/or import tax, commissions and/or premiums are included in this amount.” ( Appraising Art: The Definitive Guide to Appraising the Fine and Decorative Arts , 2013, Appraisers Association of America, page 438.) The next level is Fair Market Value.