Fine art appraisals are essential for collectors and dealers of art. Fine art collectors frequently want to know the approximate value of their collection, whether for insurance purposes or to sell it, so high-quality fine art appraisals are a must. It is necessary to have some knowledge of both credible art appraisers and fine art itself in order to obtain worthwhile fine art appraisals. Asking reliable sources for referrals to professional appraisers is one way to ensure a high-quality appraisal. It’s also a good idea to look into the recommended professional’s background or specialty, as well as how he approaches an appraisal.
Owners and collectors should shop around for a qualified and trustworthy appraiser before having their fine art appraised or valued. Antique dealers and insurance agents in your area may be able to recommend some qualified appraisers. If no local recommendations are available, professional appraisal organizations can often refer you to someone who specializes in fine art appraisals. Because some appraisers only have generalist knowledge while others focus their knowledge on a specific specialty area, fine art owners should ensure that the appraiser they choose has specialty knowledge appropriate to the art in question.
Fine art owners and dealers may want to investigate an appraiser further after they have chosen one — or, better yet, during the selection process. They may request the appraiser’s resume in order to learn more about the appraiser’s qualifications and experience. It’s also a good idea to request a sample appraisal so you can see how the appraiser comes up with his or her estimates and assessments. It may also be beneficial to speak directly with clients who have previously hired the appraiser.
When speaking with a potential appraiser, those in need of fine art appraisals should inquire about how the appraiser will arrive at a cost for the job. For their services, most appraisers charge a flat fee, an hourly fee, or a daily fee. Appraisers charging a percentage of the item they are appraising is unprofessional and unethical, as well as a way to lose licensure and certification.
Before having a fine art appraisal done, fine art owners and dealers should do some research on their own. Researching the artist of the painting or sculpture in question, as well as his or her other art pieces and the approximate market value of those pieces, if available, would be beneficial. Knowing about art trends and other artists from the same era as the piece being appraised would also be beneficial.