Art work revaluations on the rise…

A senior executive in fine art and title insurance at one of the major insurance companies told me this morning that she has been contending this August with a flood of clients asking for revaluations of works and even of entire collections.

This is usually a step people take before consigning work to auction, but it can also signal potential estate plan restructuring. Either way, if there is a glut of good work trying to find its way onto the block, we can be sure that auction house egos will rise even further than they have. Let’s hope that American consigners can continue to find European, Indian and Asian buyers.

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