valuing pictures etc for insurance purposes

[Deadpool2]

I have been given some artwork by friends, who are students. They were damaged during a water leak. How can I assess the value for them?

[gremlin]

I have been given some artwork by friends, who are students. They were damaged during a water leak. How can I assess the value for them?

I doubt they would have any 'collectible' value. The limit of the claim is probably the cost of the canvas and paints.

[Yambo]

Art has no intrinsic value.

You could cart them all off to an auction house where they might put a value on them i.e. what they might sell for but otherwise, gremlin is right.

[Count Steer]

What would it cost to commission copies/replacements? Might be worth pitching that at the insurance company?

[Horse]

I have been given some artwork by friends, who are students. They were damaged during a water leak. How can I assess the value for them?

I doubt they would have any 'collectible' value. The limit of the claim is probably the cost of the canvas and paints.

If they were particularly valuable, you would have needed to have them insured specifically at that value.

Have your friends sold any equivalent work? Use that as a guide.

But note that things like jewellery are often worth no more than weigh-in for their metal.

[gremlin]

Art has no intrinsic value.

You could cart them all off to an auction house where they might put a value on them i.e. what they might sell for but otherwise, gremlin is right.

For unknown artists, I'd agree, but your de Vincis, Turner, van Gogh, etc, would have a value that's a bit more than the oil and canvas

Tommy Cooper had it right....

[Mr. Dazzle]

Art has no intrinsic value.

If it had intrinsic value, it wouldn't be art.

Can't remember who said it, but it's something along the lines of "To be considered art, an item must have no purpose other than to just be itself".

[Deadpool2]

cheers all

[Skub]

Can't remember who said it, but it's something along the lines of "To be considered art, an item must have no purpose other than to just be itself".

That's me right there. I must be art.