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The Mission: Under The Wings of G_d and the Shadow of Amalek
by Dubi Arie.
Oil on Canvas, 84" x 462"
This seven panel painting depicting over 4,000 years of Jewish
History was recently appraised by Maynard Elliott Inc., for 3,600,000.00
dollars, making it one of the largest, single works of art to
be donated to charity.
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Appraisals 101
The object of obtaining an appraisal
for insurance purposes is not only to be insured, but to be in a position
to collect the full replacement value less your deductible in the event
of a claim. Or even to obtain a replaced item of equal or under certain
circumstances, greater value than the insurance claim.
There are all sorts of people who can give you an appraisal just as there are all sorts of insurance companies that insure various items. We have seen all sorts of appraisals, from a single piece of paper showing an appraised value, to "free verbal
appraisals" or even "scholarly appraisals".
While all of these may give
you an indication of value (which may or may not be correct), The Bottom
Line lies within the actual collecting of the money rightfully due you
in the event of a claim. This should be in a hassle-free, expeditious
manner, even when replacing the item and to avoid any contentious or litigious
claim because of loopholes.
This is why we stress that
anyone buying or selling art could have a conflict of interest. By simply
appraising the works of art for future replacement, or for some other
profitable reason, creates a loophole to your detriment. While this may
not be intentional, it still opens the door for the insurance adjuster
to reduce the amount of the claim by virtue of this suggestion, opinion
or enhanced replacement value. Now it's up to you to prove otherwise,
which is going to be very difficult and costly. It is now your opinion
and the opinion of the seller (if you are still able to obtain it) against
that of the claims adjuster and the insurance company. They also have
the advantage at this point, because you have sustained the loss, and
paid the premiums, but they still have the money to pay the claim. Remember,
an insurance claims adjuster is highly qualified to settle insurance claims
to greatly benefit the insurance company and not you. If there's a way
to reduce the claim, they will take full advantage of it. Times have changed,
and this is how it is in the REAL WORLD.
Our copy written appraisals
eliminate this problem from even occurring. If it does happen, this type
appraisal will make it easier to settle the claim quickly and efficiently,
to everyone's satisfaction. Avoiding the costly delay of litigation is
in the best interest of all involved. It may also allow your insurance
agent and your insurance company to retain you as a client.
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This Diptych painting by Steve Tracy of Ernest Hemingway in his boat the Pilar was appraised by Maynard Elliott Inc.
for the owner who donated it to the Hemingway Foundation in Chicago, Ill.
The painting was created using oil based paint on gold foil to give an iridescent colour to the Marlin.
The subject is an inspiration model taken from Hemingway's book, "The Old Man And The Sea."
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SO YOU JUST BOUGHT A NEW WORK OF ART
If you are about to, or have
just acquired a new work of art, you can ask your art dealer, or insurance
broker to obtain an immediate appraisal for you. You can do this while
you're in the gallery or insurance brokers office. If your art dealer
or insurance broker does not have computer access to the Net, we can be
contacted via phone, fax or leave the
info on our secured voice mail. Upon receipt, it will be processed
quickly and a temporary appraisal will be issued subject to the conditions
outlined in the Immediate Appraisals On Line.
If you have or are just purchasing an original work of art - remember,
there is only one original.
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