Last updated on July 12th, 2023 at 08:24 pm
There are many reasons why you may be seeking art appraisal in Seattle. Although it can be challenging to establish a fixed value in art, working with an appraisal expert is the best way to determine the value. The value of a piece of artwork can be impacted by many factors, such as market trends, the condition of the piece, geographic location, and the general interest of the potential buyer.
Here are some things to consider before getting a piece of fine art appraised.
Reasons for Appraisal
Whether you are curious about the value of a piece of artwork that has been passed down in your family or liquidating an estate, there are various reasons why an appraisal is valuable. These are some of the most common reasons for appraisal:
Insurance Coverage is one of the top reasons to get a valuable piece of artwork appraised. Insurance companies require a recent appraisal in order to provide a quote to cover the piece, in the case that it is damaged, lost, or stolen.
Estate or Divorce Settlements may require an appraisal, depending on the expected value of a piece or collection of artwork. If the art is valuable enough to have substantial monetary value, it must be considered just as any other large asset would be.
Impending Sale of Artwork presents an important reason for the piece to be appraised. Not only will the appraiser determine a fair market value of a piece prior to a sale, but they can help to find a potential buyer.
Art Value for personal knowledge is another common reason for artwork appraisal. Even if you are not considering a sale in the near future, an appraisal can provide you with not only a value but other impactful information about a piece of artwork. If you are a new collector or inherited a piece and have little knowledge about where it came from, the artist, etc., an appraisal will help you get as much information as possible about the artwork.
How to Find an Appraiser
There few things to consider when seeking an Appraiser for your fine art.
- Seek out an accredited appraisal expert who has experience appraising fine art
- Ask about their experience – what kind of art do they appraise, what resources can they provide if you are looking to sell the piece, etc.
- Schedule a consultation
- If you have never had the piece appraised before, don’t go into the appraisal with expectations of value. Although there is a lot of information available on the internet, it is easy to find inaccurate information. It’s important for an expert to assess the piece to determine an accurate value.