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ARTIST:
TITLE:
MEDIUM:
SIZE:
DATE:
Michele Marieschi (after)
Capriccio Fisherman’s Cottage
Oil on canvas.
13 7/8” x 21 7/8”
Early 18th century
PREVIOUS CONDITION: Relined, numerous areas of retouch, grainy surface.
NEW DAMAGE: There is a complex tear measuring approximately 5” x 7” located in the lower right quadrant of the painting.
RECOMMENDED TREATMENT: Consolidate, clean, reline, retouch, and revarnish.
FEE FOR TREATMENT:  $    2,800.00
INSURED'S CLAIMED VALUE: $200,000.00

INSURED’S CLAIM
Insured’s restorer’s estimate:   
Loss in value:
Total:         


$    2,800.00
$  40,000.00 (20%)
$  42,800.00

APPRAISED FAIR MARKET VALUE: $  80,000.00
LOSS IN VALUE:  $  16,000.00 (20%)
SCOPE OF CLAIM: $  18,800.00

COMMENT: The insured purchased the painting on 11/6/81 at Sotheby’s New York, lot # 121, for $10,000.00.  We sent an 8” x 10” transparency of the restored painting to Sotheby’s, requesting an authenticity check and presale estimate.  The transparency was reviewed by an expert on Marieschi, who deemed that the painting was done by a student or follower of Marieschi, not by Marieschi himself. 

The current presale estimate provided by Sotheby’s is for $30,000.00 - $40,000.00, in comparison to the 1981 presale estimate of $8,000.00 - $10,000.00.  We arrived at our fair market value of $80,000.00 by doubling the high end of the current presale estimate.  Further research can be conducted, but it is my opinion that there is sufficient evidence at this point to conclude that the appraised fair market value figure of $80,000.00 is fair and reasonable.

 

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