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DAMAGE AND DIMINUTION OF VALUE

The damage of an artworks requires in court or insurance cases the determination of the damage scope, the restoration possibilities and costs and the value diminution after restoration.

The sole dDamageescription of the material damage, however, gives little information on the extent to which the damage impacts and effects a work of art.

Art is defined by the duality of material (and material use) and appreciation of an object as a work of art. A damage can affect and change both aspects sustainably. This change in material and appreciation, if known, has a direct influence on pricing and the market chances of selling.

Therefore, a work of art is less valuable after a damage and restoration. The monetary compensation, that the owner can expect after restoration, can be defined and explained in a comprehensible and transparent manner.

 

MATERIAL AND IMMATERIAL ASPECTS OF A DAMAGE

Before identifying the value diminution after restoration, the individual significance of the damage to the artwork is to be determined by examining and evaluating the various material and immaterial aspects of the damage.

The damage aspects include e.g. the “position of damage in the composition”, the “impairment of the technical and assigned function”, the “restorability” and the “impairment of artistic performance” to name a few.

This definable individual meaning of the damage in percent forms the basis for the argumentation of the diminution of the value in percent of the artwork after restoration.