{"id":10837,"date":"2024-03-21T17:08:14","date_gmt":"2024-03-21T21:08:14","guid":{"rendered":"https:\/\/www.artinsurancenow.com\/blog\/?p=10837"},"modified":"2024-03-21T17:08:15","modified_gmt":"2024-03-21T21:08:15","slug":"what-to-know-about-the-differences-in-art-dealer-insurance-policies","status":"publish","type":"post","link":"https:\/\/www.artinsurancenow.com\/blog\/what-to-know-about-the-differences-in-art-dealer-insurance-policies\/","title":{"rendered":"What to know about the differences in Art Dealer Insurance policies"},"content":{"rendered":"\n

I work with many Art Insurance Carriers, and each company’s approach to valuation differs, which is why it matters. <\/p>\n\n\n\n

Normally, there are three ways to evaluate art at the time of claim. <\/p>\n\n\n\n

The first is true with almost all art insurers. It\u2019s the sold price, hammer price, and the cost to take the art away.\u00a0 This can or may not be in the final receipt, which could include extra fees, cost of crating, documentation, storage, cleaning, etc.\u00a0<\/p>\n\n\n\n

The Second Valuation has some twists and turns.\u00a0 The cost of the Artwork you own is evaluated at:<\/p>\n\n\n\n

  1. Your purchase price plus 20% or Retail sales less\u00a0than\u00a030%, whichever\u00a0is\u00a0greater.\u00a0\u00a0<\/li>
  2. Your purchase price plus\u00a030% or Retail sales less than\u00a020%, whichever is\u00a0less.<\/li>
  3. Your purchase price plus\u00a030 % or Retail sales less\u00a020%, whichever is greater.<\/li>
  4. Your purchase price plus 30 % or Retail sales less 20%, whichever is\u00a0less.\u00a0<\/li><\/ol>\n\n\n\n

    The third Valuation is key for all Art Dealers and Art Galleries\u2014consignment valuation.  The Art insurance dealer policy’s usual definition of Evaluation of a consigned work is net consignment + 10% of the retail price.  I have seen a new consignment amount plus 20%. It’s a little richer if something happens. <\/p>\n\n\n\n

    In Conclusion, the differences may or may not affect the price, but knowing how insurance is settled is essential.\u00a0<\/p>\n\n\n\n

    Please visit my website to complete the Art Dealer \/ Gallery insurance application<\/strong><\/a>.<\/strong> <\/p>\n","protected":false},"excerpt":{"rendered":"

    I work with many Art Insurance Carriers, and each company’s approach to valuation differs, which is why it matters.  Normally, there are three ways to evaluate art at the time of claim.  The first is true with almost all art insurers. It\u2019s the sold price, hammer price, and the cost to take the art away.\u00a0 … Continue reading What to know about the differences in Art Dealer Insurance policies<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":10838,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"yoast_head":"\nWhat to know about the differences in Art Dealer Insurance policies - Protecting Art Nationwide | Art Insurance for Artists, Galleries & Collectors from New York to California<\/title>\n<meta name=\"description\" content=\"Ensure the safety of your art dealership with our specialized insurance policies. 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New York, NY \u2013 February 20, 2026 In my 40+ years working in fine art insurance, one question comes up more than any other: \u201cWhat is my artwork really worth?\u201d The honest answer is: it depends on\u2026","rel":"","context":"In "Art Appraisals"","img":{"alt_text":"Art Insurance Now Gallery","src":"https:\/\/i0.wp.com\/www.artinsurancenow.com\/blog\/wp-content\/uploads\/2014\/03\/AIN-Gallery.jpg?fit=640%2C427&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":843,"url":"https:\/\/www.artinsurancenow.com\/blog\/art-insurance-for-collectors-schedule-vs-blanket\/","url_meta":{"origin":10837,"position":3},"title":"Art Insurance for Collectors; Schedule vs. Blanket","date":"November 6, 2017","format":false,"excerpt":"The Art of Collecting Art. There's a big difference between buying art and collecting art. Buying art is more of a random activity based on likes, preferences or attractions at any given moment while collecting art is more of a purposeful, directed, long-term commitment. An important step in good collecting\u2026","rel":"","context":"In "Art Collector"","img":{"alt_text":"Art Collector Home Image","src":"https:\/\/i0.wp.com\/www.artinsurancenow.com\/blog\/wp-content\/uploads\/2016\/11\/collectorpic2.jpg?fit=957%2C600&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":235,"url":"https:\/\/www.artinsurancenow.com\/blog\/consignment-options\/","url_meta":{"origin":10837,"position":4},"title":"How Far Do Consignment Agreements Extend in Fine Art Insurance?","date":"March 24, 2026","format":false,"excerpt":"How Far Do Consignment Agreements Extend in Fine Art Insurance? Updated March 2026 TL;DR: Most dealer policies value art received on consignment at the agreed value plus 10%. When dealers send works to other galleries, coverage and valuation depend on specific policy language \u2014 it oftenfalls into grey areas like\u2026","rel":"","context":"In "Art Dealer"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.artinsurancenow.com\/blog\/wp-content\/uploads\/2026\/03\/William-Fleischer-Headshot-300x275.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":202,"url":"https:\/\/www.artinsurancenow.com\/blog\/art-evaluations-formulas-you-might-see-in-a-art-collection-policy\/","url_meta":{"origin":10837,"position":5},"title":"Art Evaluation formulas you might see in an Art Collection Policy","date":"May 2, 2014","format":false,"excerpt":"Here are most of the current options found in an Art Collectors Insurance policy 1. Stated Amount based on an appraisal. 2. Market value or appraised value whichever is less. 3. Market value or appraised value. Maximum value 1.5% of appraisal value. 4. 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