Is Your Art Protected by Your Insurance Policy? Are the Appraised Values Current?
In my recently completed appraisal assignments, four Andy Warhol screen-prints and one Warhol painting all had 20-year old insurance values as their appraised values on my clients' insurance policies. All five Warhol pieces had significantly increased in value since their last appraisals, and the difference in the current market value from the old appraised value for one of these pieces was $500,000. In addition to evaluating the current market values of the pieces, the updat