In a message dated 1/27/2007 10:07:06 A.M. Pacific Standard Time,
jackessiebabe@yahoo.com writes:
IMO, Wynn has a good and justified suit. We'll see if the Court
agrees
On the surface it sounds that way to me too.
Karen
There are two means of refuge from the miseries of life, music and cats.
Albert Schweitzer
[Non-text portions of this message have been removed]
based on what...who knows what is in the insurance policy...does it
include negligence???...and how can you value the sales price of a
painting until it is put up for auction...it is the art world after all
and you never know who or how many people would want the painting...
--- In vpFREE@yahoogroups.com, krallison416@... wrote:
In a message dated 1/27/2007 10:07:06 A.M. Pacific Standard Time,
jackessiebabe@... writes:IMO, Wynn has a good and justified suit. We'll see if the Court
agreesOn the surface it sounds that way to me too.
Hi Realtor,
I totally agree with your first statement. It does depend on the
type of the coverage, i.e "all risk", "negligence", "diminished
value" (as David pointed out) etc. I would assume that the painting
WAS insured for "replacement cost".
As to the value of "Le Reve", that was determined when the painting
was insured initially. I assume this was done by utilizing
independent appraisals. Obviously, no one knows what any work of
art will bring at auction, on any given day. But since Wynn was
paying premiums based on the value of the painting at the time of
the insurance application was made, I contend that would also be
the "insured value" now. I can't imagine that the painting could be
be depreciated by aging.
~Babe~
==========================================================
In vpFREE@yahoogroups.com, "lv_nv_realtor" <irdd@...> wrote:
based on what...who knows what is in the insurance
In vpFREE@yahoogroups.com, krallison416@ wrote:
On the surface it sounds that way to me too. =============================================================== jackessiebabe@ writes:
IMO, Wynn has a good and justified suit. We'll see if the Court
agrees
All good information.....thanks for the updates. However, I see all of this a little different.....I wonder if Steve would consider displaying some of my low cost paintings in his residence, at least long enough to do similar damage to them....I am betting a "Steve Wynn Original Damaged Print" would significantly increase their resale value. Of course I would have them heavily insured after the damage in case of incidental repair. : )
jackessiebabe <jackessiebabe@yahoo.com> wrote: Hi Realtor,
I totally agree with your first statement. It does depend on the
type of the coverage, i.e "all risk", "negligence", "diminished
value" (as David pointed out) etc. I would assume that the painting
WAS insured for "replacement cost".
As to the value of "Le Reve", that was determined when the painting
was insured initially. I assume this was done by utilizing
independent appraisals. Obviously, no one knows what any work of
art will bring at auction, on any given day. But since Wynn was
paying premiums based on the value of the painting at the time of
the insurance application was made, I contend that would also be
the "insured value" now. I can't imagine that the painting could be
be depreciated by aging.
~Babe~
==========================================================
In vpFREE@yahoogroups.com, "lv_nv_realtor" wrote:
based on what...who knows what is in the insurance
In vpFREE@yahoogroups.com, krallison416@ wrote:
On the surface it sounds that way to me too. =============================================================== jackessiebabe@ writes:
IMO, Wynn has a good and justified suit. We'll see if the Court
agrees
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[Non-text portions of this message have been removed]
.....I wonder if Steve would consider displaying some of my low cost
paintings in his residence, at least long enough to do similar damage
to them....I am betting a "Steve Wynn Original Damaged Print" would
significantly increase their resale value. Of course I would have
them heavily insured after the damage in case of incidental
repair. : )
--- In vpFREE@yahoogroups.com, Kathy <kc42223@...> wrote:
=============================================================
Hi Kathy,
I'm proud of you! Leave it to a VP player to try for the ultimate
edge in EV!
~Babe~