I had many large canvas paintings and framed watercolors that were handed down to me and were lost in a wildfire in 2020. How do I find a reasonable value for each so my claim isn’t denied?
Hi Lesley. This can be a challenging situation, and we have several recommendations that might help you. If the artwork was not antique but you have information about the artist, you can do some online research to learn how much paintings of comparable size and quality sell for to arrive at a valuation (if you have photos of the interior of your home that includes the artwork, that can help you with this research). You can also visit or call antique stores or galleries that display artwork of similar styles and sizes to learn prices. Make sure you include tax and any shipping costs when you’re arriving at valuation, since these amounts are included in the unit cost. Use pricing that reflects the quality of what you had, and don’t use sale prices. Also, if the paintings you owned were antiques, keep in mind that these are not subject to depreciation. Good luck!