Howdy beagle6750-ga,
Thank you for extending your prior question.
http://answers.google.com/answers/threadview?id=350039
A quick note of the "Important Disclaimer: Answers and comments provided on
Google Answers are general information, and are not intended to substitute
for informed professional medical, psychiatric, psychological, tax, legal,
investment, accounting, or other professional advice."
Emil Brack was indeed German, born in 1860 and died in 1905.
I have had correspondence with the well known auction house of Christie's,
specifically their Amsterdam location, as they had an auction earlier this
year wherein they sold a painting named "The Picture Book" by Emil Brack.
http://www.christies.com/locations/saleroom.asp?LocationId=28
Unfortunately, the details of that sale are no longer available online, but
I did save the information for that painting.
Estimate ... 4,000-6,000 Euros
Price Realized ... 15,535.00 Euros
At the current exchange rate, that would be around $19,325. There are auction
fees of anywhere from 10% to 20% that are included in the above number.
Keep in mind the Christie's disclaimer when it comes to estimates.
http://www.christies.com/consignments/how_to.asp
"... All estimates are provisional and subject to closer examination of the
property by a Christie's specialist.
... Christie's accepts no legal responsibility for estimates provided under
this service. ..."
In the best of situations, such as the painting indeed being in good original
condition, it being auctioned off in the best location (very likely Europe, as
that is where there is an established marketplace) etc. your painting could
have an auction estimate of 25,000-35,000 Euros, or around $31,000-$43,000.
From the example set by "The Picture Book," the actual sales price realized
could be significantly more than the auction estimate. Estimates tend to be
set lower than what the sales price is truly estimated at so as to encourage
people to place bids on that item.
If not the best of conditions, your painting could be worth significantly less
that that estimate.
As for insurance matters, this is described very well on the Van Weyenbergh
Fine Arts Inc. web site.
http://www.vanweyenbergh.com/fair-_replacement_value.htm
"The type of value that usually is required ... is replacement value. This
means the amount of money that would be required to be paid ... to replace
a property with one of like kind and quality."
The above presents the quandary in try to assign a price to an artwork. The
works of Brack do not appear to come up for sale that often. When they do,
they are often smaller, or lesser works than the one you own. You might have
to insure your piece for up to $100,000 in order to make sure that you could
truly find a representative replacement.
The company that bills itself as the "world's leading insurer of fine art and
collectibles," the AXA Art Insurance Corporation, charges a $500 premium for a
$100,000 policy.
http://www.axa-art.com/about/facts.html
"Value of a fine art collection fully insured by a $500 premium: $50,000 -$150,000"
If you need any clarification, feel free to ask.
Search Strategy
Searched the various auction house web sites for "Emil Brack," including
Christie's.
http://www.christies.com/
Google search for: "Emil Brack"
://www.google.com/search?q=%22Emil+Brack%22
Google search for: "Brack, Emil"
://www.google.com/search?q=%22Brack%2C+Emil%22
Correspondence the Christie's Amsterdam.
Looking Forward, denco-ga - Google Answers Researcher |
