What actually happens if you never revalue your collection

Diagram of layered security around an artwork: perimeter, building shell, interior zone, display or store, and the object

I sat in a sitting room off Domain Road in South Yarra a few months back, looking at a small Fred Williams the owner bought in 1998 and hadn’t had valued since. She wanted to know, quite reasonably, whether the insurer would simply refuse to pay if something happened to it. That question comes up […]