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Your question as to value was posed as "insurance value" which shouldn't be mistaken to be the same as 'sale value' or 'auction value'. These are generally three distinct value estimates and depending on existing conditions at the time of loss, sale, or auction the values are often considerably different from one another.
The 1/2-Frame is somewhat more desirable right now but even that distinction seems to be diminishing recently.
The Following User Says Thank You to Dean Romig For Your Post: