What's in an appraisal?

An art appraisal is a comprehensive evaluation of a work of art. It is performed to determine the value of a piece, often for taxes, donations, or insurance needs. An appraisal report is issued that details the work being appraised, an evaluation of the current art market, a history of the piece and artist, analysis of comparable works, and supporting professional information. Appraisal reports can be anywhere from ten pages long for a single item to well over one thousand pages for large collections. Because there can be significant implications with the value of a work of art, it is incredibly important to get your appraisal done by a credentialed professional. 

Why Should i get an appraisal?

Appraisals serve many functions. Insurance companies rely on appraisals for new policies as well as replacement values in the event of loss or damage. Donors need appraisals for tax deductions when donating works to eligible institutions. Families rely on appraisals when planning estates and inheritance. Collectors rely on appraisals to stay up to date on the art market and the status of their collection. Many get full appraisals performed every few years to make sure their collection is well documented.

When getting an appraisal, it is imperative to go with an accredited USPAP compliant appraiser. This ensures the values you receive are backed by a professional and can be trusted.

Rates

Appraisal report

Current rate for a full appraisal report is $65 an hour. Separate travel fees may apply. A single item typically takes 2-4 hours of work. 

Just looking for advice?

Free! Send us an email or stop by with your art, we are happy to offer our professional advice for free.