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Pro: Current market value can provide assurance in the event that artworks increase in value due to market conditions, for example, driven by popularity of an artist or genre, death of an artist, etc. Depending on the damage, it may not be desirable to file a claim.
JOHN GEORGE BROWN (1831-1913) was an English born artist and British citizen who became famous in Victorian America for his idealized portraits of street children. It was in New York that Brown found success as an artist. By the 1860s, the young artist had cultivated a reputation among the city’s art patrons.
From personal experience, I can attest as an appraiser that it is much easier to prepare an insurance appraisal of an item in good condition than a damageclaim appraisal of an item in poor condition.
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