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Whether you are a seasoned collector, an art enthusiast, or someone looking to sell or insure a piece of art, understanding when to seek an art appraisal is essential. In this article, we will explore the key indicators that suggest you may need an art appraisal.
My latest article for Worthwhile Magazine™ tackles a tricky area of appraising: understanding the different levels of value. This is one of the most confusing elements of appraising that I spend a lot of time discussing with clients, so I wanted to cover the subject in an article that could reach and help a much broader audience.
A restricted appraisal is a written appraisal that provides a valuation, but information is for the client only and cannot be shared with anyone else. Whether the appraisal report is for insurance, estate or donation purposes, every report should include good documentation and a detailed description of each item along with the valuation.
You’ll need a fair market valuation and a suggested asking price. Do you want to include your item on your homeowner’s insurancepolicy, or do you want to donate it and/or write it off your taxes? Then you’ll need an insurance or replacement valuation. Do you want to sell it?
This article seeks to provide some simple steps you can follow to connect with reputable local appraisers. Whether you need a quick valuation for possible re-sale of your items, or you are looking for a more in-depth assessment for insurance or estate planning purposes, discovering a professional nearby is crucial. Examination.
Appraisals are important not only to make certain you are appropriately insured, but it can also help you make smart decisions about charitable donations, gifts to family members or making the decision to sell the work. These types of valuations are not accepted. B: Speaking of Art Insurance, any general advice for collectors?
To help others better understand how their art is currently covered, or not covered, I have written this informational post titled, Fine Art Insurance 101. To research this article, I looked at both homeowners’ and personal inland marine policies, and specialized policies written just for art collectors.
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