The value of Editions and Negatives vary.
I was recently reading an appraisal trying to establishing values on Editions and Negatives for a sale of the collection. I then started to read different policy forms to see how insurance companies would payout if there was a loss. How art is valued varies, read on.
- Current market value is the present day value.
- Future value on a single item is an unknown, hard to project the future.
- The original from which multiple proof editions are made has a value from being the original #1, but each type of edition and sequence has a value.
- If all editions are printed and no future editions are ever made, then that inventory is fixed so a total can be calculated accurately. Now, if that inventory does not sell in 2 years for example, then the inventory is overvalued and total should be lowered.
- A photo negative has value and each copy has a value, but unless the negative is destroyed the copy has little value.
- With digital photos and copies, there is no degradation in future copies and unless it is hand numbered by the artist then there is little value.
- If you have the Getty photo library, then all photos have a future value based upon licensing fee and there is no physical loss but there is a Business Interruption loss