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Joe D.lets say i have a one of kind item (at least one of a kind that I know of, but lets just call it rare).
And - lets say my personal valuation of the item is several times what I paid.
I feel the place I purchased it from was not the proper venue for the item... and if it was at auction say at Mastro, or Robert Edward, or Sloate... it would see a much much higher valuation as it would be in front of the correct audience.
What is an insurance company going to pay me if the item if it is stolen or destroyed (by fire)?
I am guessing they will ask me what I paid... which will give me a sinking feeling in my stomach.
There will be no other track record for the item.
So, how is something like this handled?
Would love to know the answer to this if someone knows.