Insurance valuations are required to provide evidence of value and ownership in the event of loss or damage. A correct valuation ensures you can identify the necessary level of cover in these instances, and that your rights to request a fitting replacement are maintained.
Through commanding such a vast network of expert in-house staff and affiliate partners, Artemisia is more than capable of offering impartial and sound valuations for both fine and decorative art objects within a person’s estate. Artemisia’s expert valuations are relevant for a vast array of situations, namely, donation and gift tax purposes, divorce processes, probate tax, family divisions and other insurance purposes.
In all cases the current market demand is used to determine the asset’s value, as opposed to its price at retail. This is to ensure all artworks or objet d’art are not based upon previous purchase prices or insurance values which are disproportionate from the current, realisable value to the individual. Therefore, to avoid inaccurate valuations which in turn may negatively affect how much premium you pay (whilst also giving you a false impression of how much you are entitled to claim) Artemisia recommends having valuations reviewed every three to five years.
Requesting a valuation is easy. Simply register online, fill in the compulsory details on the online form and attach clear, high definition images along with a detailed description of the object/s requiring valuation and how it/they came to be in your possession.
Where possible Artemisia aims to reply to your request within 5 working days. Once payment is affected you will be sent a portfolio containing a transmittal letter, a fully detailed description for each item along with respective explanatory notes, a condition report with advice on any repair recommendations, an Insurer’s summary and glossary.
To restrain demand, Artemisia does not offer valuations on individual items below the value of €3000.