Why People Don’t Know How Much Their Art Is Worth

Depending on your perspective, the verdict delivered by art services and technology company Winston Artory Group was either very good or very bad. A print that had recently been appraised for $1 million was, the company determined earlier this month, now worth just $300,000—a 70 percent decline in possible value. These were happy tidings for the insurance company that requested the appraisal, and potentially devastating for the print’s owner. “The insurance company loved it,” says…