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DESCRIPTION: A Louis XIV style mirror; height 40”, width 35”.

PREVIOUS CONDITION: Missing crest and carving; some mirrored and wooden elements replaced at later dates.
NEW DAMAGE: The mirrored surface and frame support are broken into numerous pieces.
RECOMMENDED TREATMENT: None.
INSURED'S PURCHASE PRICE: $43,750.00
APPRAISED RETAIL REPLACEMENT VALUE: $15,000.00
LOSS IN VALUE: $15,000.00 (100%)
SALVAGE VALUE: None.
SCOPE OF CLAIM: $15,000.00
COMMENT: According to our research and consultation with several experts, this mirror appears to be a fragment of an 18th century mirror.  Eighteenth century mirrors were made with a carved wood surmounting crest, usually gilded, and carved/gilded wood framing elements.  The crest and carved elements are missing from this mirror.  It also appears that a number of the mirrored and wooden elements were replaced at later dates.
According to a representative of Christie’s auction house, the mirror appears to have some age, but it cannot be determined if it is 18th century.  Their auction estimate for the mirror in its pre-claim condition would have been $3,000.00 - $5,000.00.  A retail replacement value is, on average, 200% - 300% of the auction/wholesale value.
We contacted Sotheby’s auction house, and the representative also questioned whether the mirror was 18th century, due to the size and lack of carving/crest.  For this reason, they declined to give an estimate. 
We contacted [private dealer], a retail dealer of French 18th century furniture.  They have a larger 18th century mirror, with some of the carving still intact, available for $4,500.00.
Our appraised retail replacement value figure of $15,000.00 is on the high side, in the interest of settling the claim.