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  Report date: xxx

Intended user:
Xxx
Xxx
Xxx
Xxx

  Insured/Claimant: xxx
Intended Use: Claim settlement
Effective Date/Date of Loss: xxx
Report Type: Summary/Condition
Your Claim #: xxx
Our Job #: xxx
Dear xxx;
This report concerns actual cash value as of the date of loss of x/xx/xx, as well as an assessment of pre- and post-loss condition, possible restoration costs, loss in value, and salvage value. The item was not inspected and the description and condition assessment are based only on the photographs provided.
ARTIST:
TITLE:
MEDIUM:
SIZE:
DATE:

Currier & Ives
Central Park-The Skating Pond
Colored lithograph.
20 ½” x 27 ½”
1862

PREVIOUS CONDITION: Unknown.

NEW DAMAGE: The print is scorched in the lower left quadrant, in an area measuring approximately 2” x 3”, and the bottom member of the frame is burned, in an area measuring approximately 2” x 3”.

RECOMMENDED TREATMENT: Reduce discoloration as is possible and reframe.

FEE FOR TREATMENT:
Artwork:
Frame:
Total:

  
$1,500.00
$   500.00
$2,000.00

INSURED’S RESTORER’S ESTIMATE:
Artwork:
Frame:
Total:

   
$1,300.00
$1,150.00
$2,450.00

ACTUAL CASH VALUE:
Artwork:
Frame:
Total:

   
$6,000.00
$   500.00
$6,500.00

LOSS IN VALUE: $1,500.00 (25%, artwork only)

SCOPE OF CLAIM:

$3,500.00
COMMENT: This is one of the  most commonly reproduced Currier and Ives prints. We cannot determine if the print is authentic or reproduction without inspecting it. The appraised replacement value figure above assumes that the print is authentic. If the print is a reproduction, the value would be approximately $250.00.
            The auction sale closest in date to the date of loss/effective date of this appraisal was at Leslie Hindman on 10/4/10 with a hammer price of $6,000.00.

The following documents were provided by the insurance company and/or insured/claimant: estimate, photographs.
Research was performed by Steven A. Leon, Robby Meighoo, and Jennifer Maslowski.
The following websites and databases were utilized: ArtFact, ArtNet, AskArt, ArtPrice, LiveAuctioneers.

Actual Cash Value/Marketable Cash Value: the value realized, net of expenses, by a willing seller disposing of property in a competitive and open market to a willing buyer, both being reasonably knowledgeable of all relevant facts, and neither being under constraint to buy or sell. (Appraisers Association of America) When applied to claim settlement, the claimant would be acting as the seller and the market would therefore be the secondary market (auction, classified, or consignment) minus any relevant expenses (commissions and handling charges).
In this report, value has been established by the sales comparison approach. This method of valuation involves comparison of the property with similar items, which have sold within the markets we consider most common for the subject property considering the type of insurance coverage and intended use of this report. The cost and income approaches were not used in this report.

LIMITING CONDITIONS:
-The item was not inspected by Art Conservation.
-I assume the claimant to hold 100% interest in the subject property.
-Although the appraisers are not authenticators, I had no reason to doubt the authenticity and appraised accordingly, except as noted above.
-I assume all documentation and verbal information provided by the insurance company and/or insured/claimant to be accurate and correct.
-I did not locate any current agreements of sale, validated offers, or third-party offers to sell/purchase the subject property. We did not locate any prior sales of the subject property.
-I was not provided with any additional information on the provenance of the subject property.

Art Conservation Associates is actively engaged in appraisals of the type, kind and character set down upon the annexed schedule. As per the appended curriculum vitae, I am qualified to render an appraisal of the items included in this report.  I certify that, to the best of my knowledge and belief:
-The statements of fact contained in this report are true and correct.
-The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions.
- I have no past or present interest in the property that is the subject of this report and no personal interest with respect to the parties involved. However, should restoration be undertaken, the fee for treatment figures may be payable to Art Conservation Associates, Inc. The appraised value figures are in no way contingent upon the possibility of restoration being undertaken by Art Conservation Associates, Inc.
-I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment.
-My engagement in this assignment was not contingent upon developing or reporting predetermined results.
-My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal including restoration if necessary.
-Art Conservation Associates was paid an hourly fee for the appraisal portion of this report.
-My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice 2010-2011.

Please contact me with any questions that might arise.

Thank you for the opportunity to be of service.

 

 

Sincerely,


Steven A. Leon
President
 
Jennifer Maslowski
Associate

 

 

 

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