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Rarewares, Antiques and Collectibles Researcher
Category: Antiques
Satisfied Customers: 10334
Experience:  Antiques dealer for over 10 years specializing in porcelain, glass, art, furniture, coins, watches, sterling silver, pocket watches, and jewelry.
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Why is sales value and insurance value so different? Which

Customer Question

Why is sales value and insurance value so different? Which is higher?
JA: I always love having an appraiser look at my stuff. Sometimes its turned out to be surprisingly valuable.
Customer: But which is higher, insurance value or sales value?
JA: Tell us what else you do know and the antiques appraiser will be able to better assist you.
Customer: I am trying to determine a reasonable sales value for my own sculpture. I have a definite cost for having it cast in bronze, and can simply double the cost for a sales price. But I am also being asked a insurance value. From watching Antiques Roadshow, I know that the insurance value is always different from the sales price. Is it usually mo. or usually less?re
JA: Is there anything else the antiques appraiser should be aware of?
Customer: There are no established prices for my work. I have a reputation but no record of sales. My gallery is asking for both a sales value and an insurance value. Maybe the insurance value would simply be the casting cost of the piece. That would at least cover my cost. What do you think?
Submitted: 10 months ago.
Category: Antiques
Expert:  Rarewares replied 10 months ago.

An insurance value is the replacement/sentimental cost

that would be needed if, for example, the piece was in their gallery and was stolen.

If your sculpture is worth/valued at $1500 retail, for example, the insurance

would be $4500 (x3 of the retail value). It is this formula for art because in most cases in cannot be replaced if ruined or stolen. I hope that explains it better for you!

To finish, I will need you to click the five stars at the top of your screen and hit submit, thanks!

Expert:  Rarewares replied 10 months ago.

I am following up to see if you have read your answer and need further help with this item.
Please do let me know.