Jack Holowczak — personal property appraiser, Toronto

Insurance Appraisals for Luxury Goods & Collections

USPAP-Compliant · Personal Property · U.S. & Canada

Scheduling high-value items on an insurance policy typically requires documentation of value the carrier can rely on. Secondary markets for Hermès, Rolex, fine jewelry, and contemporary art move quickly enough that undocumented or stale values are a real risk at claim time.

The practice prepares USPAP-compliant insurance scheduling appraisals on a fully remote basis for collectors, brokers, and carriers worldwide.

Common engagements include documenting a Birkin, a watch collection, or an engagement ring for a policy schedule.

Services

Replacement Value vs. Fair Market Value. Insurance scheduling typically uses retail replacement value — the cost to replace an item with one of like kind and quality in the relevant retail market — which is a different standard of value than fair market value. Every report states the standard of value applied and why it fits the intended use.
Worldwide, Remote. Engagements are documentation-driven — photographs, receipts, provenance records — with values developed from current retail and secondary-market evidence. Reports are delivered in U.S. or Canadian dollars as the engagement requires, for clients in any jurisdiction.
Keeping Schedules Current. Carriers vary in how often they require updated documentation; multi-year cycles are common, and significant market movements in a category are an independent reason to refresh. Update engagements re-use the existing file and documentation.
Fees. Quoted by engagement letter based on scope of work, time, and complexity; never contingent on appraised value.

Frequently Asked Questions

What is the difference between replacement value and market value?

Retail replacement value reflects the cost to replace an item with one of like kind and quality at retail; fair market value reflects what a willing buyer and seller would agree to in the relevant market. Insurance scheduling typically uses the former; estate, tax, and dispute contexts typically use the latter. The report states which standard is applied.

Will my insurer accept a remote appraisal?

Reports are prepared in accordance with USPAP with the scope of work disclosed. Acceptance criteria are each carrier's decision — confirm requirements with your broker, and the engagement is scoped to meet them.

How often should an insurance appraisal be updated?

Common practice is a multi-year cycle, with earlier updates after significant market movements in a category or changes to the collection. Your policy or broker may specify an interval.

Do you serve clients outside North America?

Yes. Insurance scheduling engagements are fully remote and conducted with collectors and brokers worldwide.

How much does an insurance appraisal cost?

Engagements are quoted by engagement letter based on scope of work, time, and complexity — the number of items, the state of documentation, and the intended use of the report. Fees are never contingent on appraised value.

What happens if scheduled items are later stolen or destroyed?

The pre-loss schedule becomes the claim's foundation: it documents existence, condition, and value before the loss. For losses without current documentation, the practice also prepares post-loss valuations reconstructed from records — see insurance loss and theft claim valuations.

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