INSURANCE APPRAISALS

Insurance appraisals reflect the cost of replacing an object shortly after loss or damage. A volatile art market and changing collector tastes highlight the need for up-to-date appraisals. Our detailed and illustrated appraisals are accepted and relied upon by insurance carriers and underwriters, globally.

Current appraisals manage risk, lower insurance premiums and allows homeowners to be on the offense in the event of a loss. In addition, current appraisals allow for a swift and streamlined recovery process after damage occurs.

PMAA Insurance Appraisals include:

• Individual cataloguing, photographs and values for each item valued over a client specified threshold
• Digital and hardbound copy of report(s)
• Comparable sales results and analysis
• Condition reports on items valued over $100,000 (RRV)
• Narrative for items over $250,000 (RRV) to discuss current market
• Complimentary yearly reviews for price fluctuations

Sources used to determine insurance values:

• Dealers and galleries specializing in the particular artist and or type of work being valued
• Private sales of similar works
• Auction market for assessment of current market for the particular artist and/or type of work being valued
• Living artist and artist estates to confirm authenticity, editions, etc.
• Notable framers to determine current frame costs
• International art fair reports
• Fine art shippers to determine appropriate packing and shipping costs
• More than 75 contracted specialists at the top of their field and familiar with global market pricing

PMAA prides itself in being a founding member of the Private Risk Management Association, as well as being vetted partners of AIG Insurance, Chubb Insurance and Pure Insurance.