Appraising Your Artwork Collection
What
Appraising your artwork(s) is when you have an official licensed appraiser estimate the value of your collection. They will ascertain their number by evaluating the condition, provenance, and market demand.
Why
The purpose of getting your artwork could be for several reasons, such as insurance, taxes, preparing for auction, or planning an estate.
Appraisers play a pivotal role within the art world. They locate the significance of piece in art history and place value based on informed context. Not only do they answer the question “What is this worth?”, but they create a tangible story and acknowledgement for any given artwork. Their findings can result in restoration efforts, documentation of the cultural heritage behind a work, as well as give galleries and museums the information needed for them to be included in curatorial projects.
How
To find a licensed appraiser, there are local databases and lists of people to contact. Most have their personal specialties. So, it is a good idea to find an appraiser who fits within the style of work you are looking to get appraised.
Once you find an appraiser, they will examine the artwork to assess its authenticity, condition, provenance, attributes, and historical context.
Next, when appraising your art, they will review the provenance to determine previous documentation of its history and ownership. The more provenance, the easier it is to research its history and value. Provenance can look like a receipt, previous appraisals, or any exhibition records to add to its story.
Then, they will look at the market to analyze its trends as well as how similar works are faring. Past sales will inform where your work will fit into the market.
Finally, once the appraiser has completed their work, you will receive a report detailing the artwork’s description and history, the appraisal method, the qualifications of the appraiser, and estimated value of the artwork(s).
So What?
When looking to store art or have it transported, people often look to determine its value to best prepare for the costs and necessary services for any given piece. The more prepared you can be when handling a high-value artwork, the better. We offer insurance coverage here at A2//Artserve and getting an appraisal is often a requirement for most insurance plans. If you have more questions regarding our offerings or if you would like a recommendation for an appraiser, feel free to contact us!
