Commentary

142 Valuation of the borrowed object

BAILMENT vol 3(1)
BAILMENT vol 3(1) | Commentary

142 Valuation of the borrowed object

BAILMENT vol 3(1) | Commentary

142 Valuation of the borrowed object

In the case of non-national museum borrowers, the valuation of the object is the ‘reasonable estimate of the current open market value’1; in respect of national institutions the Arts Council England guidelines suggests, ‘a fair estimate of the value that the object to be indemnified might reach if sold on the open market at the time of the loan’2.

The level of the indemnity depends on the expert advice and whether the valuation is considered acceptable for indemnity purposes3.

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