-
Does My Art Need to Be Appraised To Be Insured?
Can’t I Just Use the Purchase Price? Purchase price feels like a logical starting point – after all, you have the receipt. But it’s rarely the right number for insurance purposes, and relying on it can leave you significantly underinsured. Markets change. Artists appreciate. Condition shifts. A work purchased for $8,000 a decade ago may…
-
How Often Should I Update My Art Appraisals For Insurance Purposes?
Here’s a question every collector should ask themselves – when was your last appraisal done? The art market moves constantly. At artist’s market can shift dramatically in just a few years – upward or downward – and an appraisal that was accurate in 2019 may look nothing like today’s reality. Outdated appraisals are one of…