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An appraised value for insurance may be significantly higher than an appraised value for planned future sale, which can be baffling and difficult to comprehend without a familiarity with the different levels of the market. Sales tax is not included in the calculation of fair market value, although Bidder A may have had to pay it!
Value matters and an art appraisal completed by a qualified art appraiser can save you substantial money by not selling too low, insuring too low, or paying too much in estate tax or equitabledistribution. Insurance Purposes: Artwork can be a valuable asset, and it is essential to ensure that it is adequately insured.
Whether you need a quick valuation for possible re-sale of your items, or you are looking for a more in-depth assessment for insurance or estate planning purposes, discovering a professional nearby is crucial. Typically, this involves analysis of comparable sales in the appropriate market. Market value determination.
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