Insurance Assessment Study Art

Art valuation is an inevitable obstacle in the development process of artinsurance market. Appraising art is essentially an opinion of value based on properidentification and valuation which is to give a proper evaluation of its artistic valueand commercial value. As known to us, most theories focus on art valuation andappraising while little discuss valuation for insurance purpose. Within the field ofinsurance purpose, not only should we take artistic value into consideration, but alsoneed to divide between before and after the accident appraisal, in addition, usingdifferent method with different policy-holders. Holding to the tenet that theory shouldbe united with practice is extremely important for the accuracy of valuation andobtaining the acceptance of both the insurer and the policy-holder is a touch-stone ofthe quality of valuation report.From the art insurance perspective, based on the premise of agreed insuredvalue, this paper investigates the main methods and means used in art valuation,argues the applicability of the methods and then combined it with practical cases toidentify its advantages and disadvantages. The risk control characteristics of artinsurance lead to the appraisal procedure to be more conservative and rigorous. Bythese means, this paper tries to meet the need of Chinese art insurance market and toexplore some train of thoughts.