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Examples of retail replacement value are the price an art gallery asks for a painting in their inventory, the asking price of a table by a furniture designer, or the manufacturer listed price of a sterling silver serving item. Liquidation Value is often used in bankruptcy contexts.
Whether you inherited a painting, purchased a piece years ago, or are considering donating to a museum, there are many reasons why an appraisal might be necessary. An art appraisal is a professional assessment of an artworks value based on factors such as the artist, condition, provenance, and current market trends.
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