If the value of Art, like Beauty, is in the eye of the beholder ....how do you insure your art when the value is so subjective?

The value of this Andy Warhol of Marilyn Monroe? We know what it's worth. It just sold for a record breaking $195 million.

You may have pieces you bought on vacation that mean more to you, but it’s value may be harder to ascertain if there was a loss.

How do you protect your cherished pieces?

The answer is to list it out on a Personal Articles Floater. Yes, your homeowner’s policy will cover art without listing it, but usually there are limits.

Here are key things you must know about doing adding art or jewelry properly.

One- the value is decided ahead of time via a description or appraisal.

Two- the value does not automatically go up every year. There are too many stories like this...A Rolex is listed  at $5000, but at the time of loss is worth $50,000.  The insurance company will only pay out $5000.

Three-f you have items that will travel to galleries or museums, you need to know how it will be covered in transport and out of your control.

Despite signs of an impending recession, The Shot Sage in Blue of Marilyn that just sold confirms a bullish art world of collectors seeing value and looking to add to their collection. Or maybe, the buyer just saw it on vacation. Either way, it's definitley insured.