Art Valuation Services

Value appraisal is an important part of owning art, protecting art investment or ensuring that your business is offering only genuine and profitable art work. This is because the values or prices of art can change quickly and more frequently. By having the value of your collection appraised and updated, it would be easier for you to adjust your insurance coverage and selling price. It would also make determining your asset's value more convenient whenever your art is involved in charitable donations, estate tax and insurance claims.

When searching for a service provider specialising in art valuation, you should keep in mind that there are several kinds of art appraisal. Each method uses different techniques in determining art value. Hence, you have to know what methodology your appraiser will use because different method gives different result.

One of the common methods use is the fair market value. This is the price that a seller and a buyer would be willing give to sell and purchase the art, respectively, without knowledge of the relevant facts concerning the item on sale. The fair market value method is the technique commonly applied to estate values and charitable donations.

The second method usually used in appraising art is the replacement value method. Using this technique, the value of an art work is determined by computing the amount it would cost to replace an item. However, since genuine art work is irreplaceable - once lost, it is lost forever - this method will give you the highest values. The technology is commonly used in computing insurance coverage.

Another method used in art appraisal is the liquidation value method. This is technique uses as basis the value that will be realised when the sale is under limiting conditions or time constraints. The technique is favourable for the buyer and a disadvantage to the seller.