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All appraisal reports written in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP) have to include identification of the level of the market the appraised values are set in and the effective date of the valuation. The next level down of value is Actual Cash Value.
Replacement cost comparable is the cost necessary to replace an item of personal property with an equivalent item having similar appearance, quality, condition, age, authorship, and utility within a reasonable amount of time in the relevant marketplace. Note that the definition of replacement cost comparable mentions age.
She was remodeling her home and wanted to make sure that her paintings were insured to the proper value in case there was any damage during the remodel. Types of damage include water damage, smoke damage, damage that may occur during a move such as denting or cracking and age-related damage, such as oxidation.
Speaking of ornament, the way in which an object is engraved, or painted, or carved, or any of a hundred other ways ornament has been used can make a tremendous difference in the overall quality of the item. The proper identification of materials sometimes requires testing, which may require the assistance of an expert. Attribution.
When Iris Apfel —the doyenne of ladies who embrace expressive accessorizing—passed away recently at the age of 102, I saw photo after photo of her adorned with stacks of colorful bangles posted on social media. Celluloid is also light in weight compared to other plastics like Bakelite, so that’s another valuable identification clue.
Over the years, I have spent a lot of time on the phone trying to help people determine if the painting they found in a garage sale is worth anything. I took no pleasure in having to explain that they had one of the many reproductions of the painting and their hopes of having won the art lottery was only a lovely dream.
These hidden gems have even come out during the age of online retail, as a customer for an online bookseller recently opened a copy of Octavia E. Image 1: Title page, first printing of A Treatise on Ancient Painting by George Turnbull, 1740. Photo by author. Photo by author. Image 3: Illustration, The Rubaiyat of Omar Khayyam, 1908.
But they were also made in a wide range of colors, including amber, amethyst, blue, green, pink, purple, and even black, and with a variety of finishes like fired-on painting, frosting, hand-painting, iridizing, and staining. It can be difficult to definitively determine which company made what and the age of a piece.
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