No. 02 Insurance Appraisal
Insure your art for what it would actually cost to replace.
Our insurance appraisal reports strictly adhere to the Uniform Standards of Professional Appraisal Practice (USPAP). Each object is appraised on a current Retail Replacement Value basis, ensuring that should damage or a loss occurs, fine and decorative art assets are protected by an agreement with the insurance company. Objects are fully cataloged to internationally recognized Getty Object ID standards, organized by location and/or category, and digitally photographed to create an accurate record of your personal property as of the date of inspection. Please note that the Inland Marine Underwriters Association (IMUA) recommends that fine and decorative art be appraised every two to five years for Modern and Contemporary Art.
New Coverage · Policy Renewal After Market Movement · Recent Acquisition or Inheritance · Damage or Loss Claim
Plate II — The gilded frame, corner detail
The Process
How it works
01
Consultation
Tell me about the works and your coverage need. Organize any receipts, prior appraisals, and provenance notes; check your broker on policy limits. We scope the assignment and the hourly fee before I begin.
02
Inspection & research
I examine and photograph the works — or my staff does a site visit for measurement and documentation when that fits — then research the replacement market through auction results, private sales, and gallery data, including conversations with specialists when an artist’s market needs that depth.
03
Certified report
A USPAP-compliant report itemizing each work with replacement value, high-resolution images, artist biography, market analysis, and sources consulted — delivered as a shareable PDF to you and, if you wish, your broker.
What You Receive
Objects are cataloged to Getty Object ID standards and organized by location and/or category. The report includes object descriptions, condition notes, color digital photographs, artist biography, market analysis with auction and gallery comparables, stated Retail Replacement Value, sources consulted, and a signed USPAP certification — delivered as a shareable PDF that stands up to insurer and adjuster scrutiny.
Object descriptions & condition notes
Per Work
Photographic documentation
Per Work
Market analysis & valuation approach
Stated
Signed certification
USPAP
Common Questions
Common questions
Q — 01
How often should insurance appraisals be updated?
The Inland Marine Underwriters Association (IMUA) recommends that fine and decorative art be appraised every two to five years for Modern and Contemporary art. Updating keeps coverage current so you are neither over-insured nor under-insured. Updating a report I already prepared is faster and less costly than starting over.
Q — 02
What is the difference between market value and replacement value?
Fair market value is what a willing buyer would pay a willing seller. Retail replacement value is the (usually higher) cost to replace the work in the appropriate retail market — the insurance standard. Using the wrong definition is the most common error in fine-art coverage.
Retail replacement value and fair market value, compared.Q — 03
What should I have ready before we start?
Collection lists or receipts if you have them, any prior appraisals, provenance or exhibition notes, and clarity from your broker on schedule limits. High-quality photos help for a preliminary review; certified insurance appraisals normally require in-person inspection. Collection assignments are scoped as one engagement — billed hourly, never a percentage of value. Contact me for current rates.