FAQ About Art Appraisals

Q: What is an appraisal?

A: The appraisal process yields an appraisal report, where the appraiser establishes a professional opinion of value. This appraisal document includes supporting evidence, appraisal certification, and a defined scope of work. It is a signed, valid legal document that can be relied upon by specific defined users. It may provide a retail replacement value for insurance purposes, a fair market value for tax purposes, or other values on a case-to-case basis.

 

Q: Why do I need an appraisal?

A: Have you inherited something and not sure what it is? Are you possibly looking to sell art from your collection? Does your insurance rider need updating? It is important to know the purpose of the appraisal before determining the scope of work. I offer complimentary advice via email if an object or a collection of objects is worth appraising. Feel free to send clear digital images and all pertinent information to maggie@artemisartadvisory.com. Please allow up to 10 business days for a response.

 

Q: Why do I need a qualified appraiser?

A: A qualified appraiser establishes independent, objective opinions of value for your personal property items. A qualified appraiser adheres to the Uniform Standards of Professional Appraisal Practice (USPAP), professional guidelines put forward by The Appraisal Foundation, and stays up to date on the most current industry standards, including appraisal methodology and markets.

 

Q: What are the fees for an appraisal?

A: Appraisals are charged an hourly rate. Each appraisal project is different. I provide specific estimates to individual clients based on anticipated research time, report writing time, and time to examine the property. Please contact me to inquire about your project. 

 

Q: What do the appraisal fees include?

A: The appraisal fee includes two hard copies of the appraisal report as well as a PDF version of the report for your digital records. The final report is typically delivered after receipt of payment in full.