Tips For Having A Piece Of Art Appraised

Many people own artwork and what to know what it is worth, either for insurance purposes or so they can make plans to sell it. If you have artwork in your home and you're interested in knowing its value, you best option is to arrange an art appraisal. With a comprehensive art appraisal, you will receive more than just an estimation of value; a full report will be given to you after the appraisal is completed. When you have a piece of art appraised, always make sure that you keep the report in a safe place for your records. Use the following tips to help you get a piece of art appraised.

Carefully Choose an Appraiser

If you're going to spend time and money having a piece of art appraised, it is completely normal to want the appraisal done properly. One of the keys to a successful art appraisal is the appraiser doing the job. Before scheduling an art appraisal, it is in your best interest to do some research in order to determine the right appraiser to hire. Ideally, the appraiser who conducts the appraisal should be an expert in the specific type of art that you have, as well as have years of experience doing appraisals.

Be Clear About the Type of Appraisal That You Want

An art appraisal is not as simple as putting one single price on the value of a piece of art. Thus, when you order an art appraisal, it is important to be clear about its purpose. For example, if you need an appraisal because you want to sell the piece, you will need to know the fair market value. However, if an appraisal is needed so you can insure a piece of art, you will need to know the replacement value, which can be higher than the fair market value, since many pieces of art are one of a kind and can't easily be replaced.

Provide Necessary Information

It is always a good idea to get prepared in advance of an art appraisal. For a complete appraisal, you will need to do more than just hand over the piece of art to an appraiser. For the most accurate appraisal possible, you should present receipts from when you purchased the piece, documentation showing the sales history, and any past appraisal reports that you may have in your possession. If the piece of art has ever been part of an exhibition at a museum, make sure that you let the appraiser know. 

For more information on art appraisal, contact an appraisal service.