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Diminished Value

A $54 Million Diminished Value Claim
By David A Williams, Auto Collision Repair Specialist and DV Expert
Feb 4, 2007 - 9:47:10 PM

The New York Post has reported on a lawsuit filed by Las Vegas casino developer Steve Wynn, wherein Wynn seeks to collect from Lloyd’s of London the diminished value of his prized Picasso painting, “Le Reve.” The 75 year old painting for which Wynn paid $48.4 million was damaged when Wynn accidentally poked two 3-inch holes in the canvas as he showed it off to his guests on the evening of September 30, 2006... Will billionaire Wynn prevail? Or will insurers stonewall Wynn and attempt to reject his claims in the same manner they often snub and downplay diminished value claims made by insureds and claimants after auto accidents? Click here to visit the Safe Collision Repairs blog to read the full article, A $54 Million Diminished Value Claim, and post your comments.

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About Safe Collision Repairs

For more than ten years, David Williams of Wheelersburg, Ohio's Safe Collision Repairs has worked with consumers and attorneys in the tri-states of Ohio, Kentucky and West Virginia to expose unsafe auto repairs and maximize recovery on auto insurance claims. Some of the company's services include Post-Repair Inspections, Prepurchase Inspections, Auto Damage Assessments, Lemon Law Investigations, Expert Court Testimony and Diminished Value Calculations using an advanced version of Network Information Communication's WreckCheck program.

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Disclaimer

The content expressed on this website and in the article above represents the opinions of David A. Williams. Williams is neither an attorney nor public insurance adjuster, but is an expert, consultant, and writer specializing in the field of automotive collision repair and valuations. The information provided herein is not intended to be a substitute for legal or insurance advice. Because collision repair is a continually evolving science, any text, materials or links found herein are provided without claim or guarantee to their accuracy or completeness.