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A company recently received a call to consult regarding the contents in a home that had experienced a fire. The adjuster described the contents in the home as “high end.” The home owner had hired a public adjuster who had listed a signed Chagall painting among the contents. When the inventory specialist spoke to the public adjuster, the PA indicated that he had researched the painting’s value on the Internet and determined the value of the Chagall to be $40,000. The inventory specialist immediately knew the claimed value could not be correct. Paintings by Chagall routinely sell for millions; any painting by Chagall would fetch much more than $40,000.

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