Hoes Does Fine Art Appraisal Work?
If you own fine art and you’re interested in getting it appraised, then it pays to know a little bit about how fine art appraisals typically work. This profession is something that no art collector should take lightly. An appraisal can tell you a lot about the value of the artwork you own. Let’s get started.
The first thing an appraiser will ask about is what type of valuation you want to be performed. Are you looking to auction off your artwork? Find out a little bit more about what it’s worth? Different types of appraisal will take different intentions into account.
If you plan to auction the piece, then your appraiser will examine the piece against what you paid for it to determine a fair market value. This also gives you a place to start the bidding at auction.
As you might expect, the quality of the piece is also called into question when an appraiser is doing their job. They’ll look at the quality of the art itself, the status of the original canvas or paper, and the signature of the artist if the art is signed at all.