Insurance claims are reimbursed based on the value listed within a policy, not what a work might actually be worth. With the fluidity of an ever-shifting art market, it is imperative for collectors to reassess the value of their artwork on an ongoing basis to ensure adequate coverage. Cochran Arts can determine the basis of valuation required by your policy and provide the requisite research and documentation to ensure your valuables are protected.
When an accident does occur, Cochran Arts can help both individuals and insurance companies facilitate claims and disputes. The market often views a restored work of art differently and Cochran Arts can help determine if and what percentage loss of value is appropriate.
Thoughtful consideration for the future of your artwork is the responsibility of all good collectors. Cochran Arts’ appraisals can be an integral part in trust, estate and tax planning. Other important uses for this type of appraisal are to ensure equitable distribution in cases of divorce or to establish a step-up basis for a surviving spouse when settling an estate.
For clients seeking independent verification of the value of a work of art before a potential purchase or sale, Cochran Arts can provide a Restricted Appraisal. Intended for a single user, these appraisals undergo the same stringent due diligence but result in more simplified reports.