Recently contents specialists acceptedan assignment to inspect objects, authenticate exactly whatthey were, and provide valuations. One of the items to be inspectedwas a pristine vintage Bösendorfer piano.

|

At least that is the description provided by the insured, whoclaimed the piano was “priceless.”

|

But was the piano a bona fide Bösendorfer? If so, then whatwould that portend for the value assessment?

|

First, a little background on Bösendorfer. The Austrian pianomaker dates back to the early 1800s. The company pioneered theeight-octave keyboard, and its pianos have historically beenconsidered to be extremely well built, using several uniqueconstruction methods which contribute to their unique sound. TheBösendorfer sound is usually described as darker or richer than thepurer but less full-bodied sound of other pianos, such as Steinway& Sons.

|

Bösendorfer's concert grand piano is one of the world's largestand most sought after concert piano. A new Imperial Grand hasa list price approaching $250,000. Although good used examplesof the Imperial Grand are not “priceless,” they are certainlypricey—often approaching $100,000 in value.

|

Good used or vintage examples of Bösendorfer's smallergrands are priced based on age, finish and condition, with finerexamples commonly selling for $50,000. The insured's vintage pianowas purported to be from the first quarter of the 20th century,having been meticulously restored and in perfect condition.

|

Click on “Next” tofind out how these pricey pianos are authenticated.

|

Authentication

|

The process of authentication resembles a three-legged stool,involving the three elements of provenance, connoisseurship, andscience.

|

“Provenance” is the ownership history of an item. Tracing anitem's ownership back to its maker or time period can prove theauthenticity of an item by itself. Connoisseurship is not asconclusive as provenance. Connoisseurship involves an expert'sopinion regarding the nature of an object being consistent in styleand nature with other known works by a specific maker or timeperiod. It is an opinion, and is the least reliable factor of thethree in establishing an items authenticity.

|

“Science” can involve a range of activities from critical visualexamination with normal “white” lightning, to viewing with UV orInfrared light, microscopic examination, chemical analysis ordating technologies. Science cannot by itself ever prove an item'sauthenticity. Science can only prove that the characteristicsof an object are consistent with the characteristics of anauthentic item and may be authentic. Although sciencecannot prove authenticity by itself, science can rule outauthenticity by itself when characteristics inconsistent withauthenticity are documented. These inconsistent characteristics areknown as “inaccurisms.”

|

When we arrived at the insureds home, the owner was anxious toshow his items, including his beloved “vintage” piano. As soon asthe piano's top was raised, we immediately observed a number ofglaring inaccurisms, including modern Phillips head screws andevidence the piano top was made of a modern engineered woodproduct, a medium density fiberboard, to mention just a few. Thesefasteners and top material simply did not exist during the firstquarter of the 20th century.

|

Our examination did find elements from a vintage Bosendofer;however, the restoration process had been so invasive anddisrespectful of the vintage nature of this piano, failing toretain original elements, components or construction practices,that it had been transformed into something else.

|

It did not require provenance, research, or connoisseurship ofBosendofer pianos to reach the conclusion that what the insuredbought was a playable piano with a focus on outward superficialappearance, but certainly not the pristine vintage Bösendorfer hethought he had purchased.

|

The piano's value was set at $14,000, obviously a small fractionof “priceless.”

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.