American Society of Appraisers Linked-In Discussion Thread 4 MAY 2011: “Received inquiry for claim and would like suggestions as to approach. A previously appraised Buddha for $7500 was broken in shipping. The repair is $1450. What is the difference in value now?”
This discussion pertains to diminished value secondary to damage. Different factors are in play: category, type of damage, extent of damage, rarity of object, relevant market, demand strength, the degree of accuracy of the conservation, cost of conservation, etc. To factor a percentage for diminished value in this instance, one must compare the difference in market strength at auction for damaged and undamaged comparable properties. The greater the number of comparisons discovered, the more accurate the factored estimate. NUTSHELL: 1. sell a perfect example, 2. sell a broken example, 3. factor percent of difference.