What to Know When Assessing Art value

What to Know When Assessing Art Value

19January,2017
By Admin | , | No Comments
Share This:

When it comes to the value of your art, it is important to know how appraisers assess and determine the value to make sure you are getting a fair assessment.

Here are a few guidelines on what to look for when hiring an art appraiser.

You should know the appraiser’s curriculum vitae–their education, qualification, and previous experience (this is usually sent with the job application). Understand the level of membership the appraiser has achieved to ensure they are competent.

You need to have several pieces of information ready before you contact the appraiser to discuss the appraisal. You should have the nature of the work like “canvas” or “copper plate”; any information on the art or artist is important for the proper appraisal.

Openly discuss with the appraiser the nature of the appraisal they will complete, so that you can both agree on the purpose of the appraisal and the scope of the work to be done.

Ask about the appraiser’s fee structure; members of the Appraisers Association of America are independent contractors and their fee structures all vary. Make sure to hire one that goes with your values and concerns.

Before the appraiser arrives, make sure you provide them with the proper working conditions–a clean inspection with the proper lighting, ventilation, and possibly an art handler to assist in their examination.

Code of ethics of an appraiser.

All items and property covered with an appraisal must be appraised objectively–meaning that emotions and other outside influences should have zero factor.

It is up to the appraiser to appraise only works of art that are within their expertise and within the scope of the appraisal.

Your valuable articles insurance policy should be reviewed by your insurance agent–especially if your artwork is pristine. Contact Hoffman Brown Company in Sherman Oaks, California, they will assist with a policy review and provide recommendations.