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How do you place value on something as intricate and subjective as fineart? In this post we explore fineart valuation and appraisal, how an appraisal is conducted and the different types of art appraisals. You can learn more about insurance appraisals in this blog post.
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 estatetax or equitable distribution. In this article, we will explore the key indicators that suggest you may need an art appraisal.
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. It can sometimes be present in insurance policies, although in my experience it is much less frequently encountered.
If your insurance provider has asked you to get your artwork professionally appraised, or you need it evaluated for some other reason, How Do I Get My Art Appraised will help you find a qualified appraiser, fully understand all aspects of the appraisal process, and prepare you for what a professional fineart appraisal is likely to cost.
However, in order to determine the fair market value of those assets and comply with your state’s inheritance and estatetax requirements, it is recommended that you obtain an appraisal from a qualified and accredited appraiser.
As an appraiser, my role is to provide an unbiased, well-researched valuation tailored to your specific needs, whether for insurance, estate planning, donation, or sale. Many insurance companies require a professional valuation to determine an appropriate coverage amount.
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