How To Get Art Appraised For Insurance

Next they factor in the condition of the artwork to determine a fair market value this is a minimum and maximum figure in usd that the artwork is likely to fetch at auction.

How to get art appraised for insurance.

For example insurance value is the retail value or what would it cost today to buy a similar item. Our uspap compliant appraisers assess market value of an artwork by comparing it to similar artworks by the same or similar artists at auction. These documents include proof of ownership bill of sale provenance a replacement estimate photographs and the most recent appraisal. As an art appraiser i examine the work take measurements notes about the condition signature any other physical traits and then photograph the object.

Items may be appraised differently according to the intended purpose of the appraisal. You should be able to readily find this information on an appraiser s website. Searching to find an appraiser that is a match in terms of your item s category is time well spent usually resulting in the most accurate appraisal for your art antique or collectible item. The appraisal should contain contact information for the appraiser a conflict of interest disclaimer and also a statement of how the appraised value was determined.

Ensure the appraiser knows that the appraisal is for insurance purposes. This involves getting your art appraised on a fairly regular basis from once a year to every few years depending on the nature of the work because the value of art can appreciate over time.