About Insurance Evaluations
While Potter Violins does not offer instrument insurance, we encourage all of our customers to acquire an insurance policy on any instrument or bow in their possession. For customers who are not considered professionals, their ordinary homeowner’s or renter’s insurance policies should suffice, provided that you have notified your insurance carrier about your instrument. For a small increase in premium, most insurance carriers will provide “all-risk” coverage with little or no deductible.
Any instrument or bow purchased from Potter Violins is automatically issued an insurance appraisal, but it is up to you to obtain your insurance coverage. We can assist you in filing your claims with your insurance carrier. If we have appraised your instrument or bow, we will provide, free of charge, as part of our service, documentation of damages and estimated repair costs as well as any depreciation that may have occurred.
For teachers and professionals, homeowner’s policies will usually refuse to cover your valuable instruments, so you should expect to purchase separate coverage that is specially designed for your particular needs and risks. These insurance policies are often available at a discount through your employer or other professional associations, such as ASTA.
*All valuation services are done by appointment only. Please call our shop at 301-652-7070 to schedule one. If possible (to save you time), please try to schedule your appointment on a weekday (Tuesday through Friday), as Saturdays can get very busy.
Insurance Evaluations & Appraisals. . . . . . . . . . . . . . . . . . . . . . . $150
Insurance Evaluation Updates (every 4 years). . . . . . . . . . . . . . . . . $75
Certificates of Identification . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $300
Certificates of Authenticity. . . . . . . . . . . . . . . . . . . . . . . . . . Please call
Estate and Donation Appraisals. . . . . . . . . . . . . . . . . . . . Call for Appt
Drawing on more than 50 years of combined experience in the violin business, Mr. Dalton Potter and his colleagues can offer you an evaluation for any level of instrument. With 45,000 of our instrument appraisals listed with the insurance industry, Potter Violins provides the opportunity to evaluate and document your valuable instruments properly.
Dalton Potter holds a Uniform Standards of Professional Appraisal Practice certification.
Verbal “opinions of value” are always free. Written evaluations include free, permanent recordation and, when needed, free written repair estimates and correspondence with insurance companies to facilitate fast, equitable settlement of claims.
Certificate of Identification
This is a handwritten certificate with measurements and photos, accompanied by our insurance evaluation. We will maintain a permanent archival record of your instrument.
Certificate of Authenticity
This is a timeless document guaranteeing the authenticity and provenance of your valuable instrument. Always based on the firm opinions of the most respected dealers in the industry, this handwritten certificate includes a detailed description of the condition, wood grain & figure, color and quality of varnish and detailed notes on past repair work as well as any unusual or distinguishing identifying characteristics.
Estate and Donation Appraisals
Insurance evaluations are customarily based upon Retail Replacement Value (RRV). By law, estate appraisers are required to use another valuation method known as Fair Market Value (FMV) which is generally lower than RRV. Our Estate Appraisals comply with USPAP and all IRS requirements for “Fair Market Value” as defined by IRS Section 1.170 and 20.2031 (b). E
Each USPAP compliant appraisal shall have no less than three comparable market sales per item, including photographs and researchable sales records. We maintain all of our research work files for a period of no less than five years from the date of issuance of appraisal. Please call to set up a private appointment.
