Art Appraisals : Buy or DIY?
Whether you’re looking to buy or sell fine art, art appraisals are a quintessential first step. Frequently you hear about people who’ve paid 75% more than the market value for a particular piece, or conversely you hear about people who’ve bought a painting at a garage sale for a few dollars, only to find out that it is worth over a million dollars! To be on the winning side, it’s a good idea to get your work appraised, ideally by a professional. While it will cost a few dollars initially, the money you’ll save by getting top dollar or the best value will be far greater.
There are several steps in getting an art appraisal. First of all, note whether you have original artwork, and if it was directly created by the artist. If you are unsure, visit a frame shop or art gallery to help you figure out if you have a print or the original.
Next, find the artist signature to ascertain the artist. Some auction houses will accept works without a discernable signature, so long as you provide clear pictures. Thirdly, gauge the condition of the art you possess. Are there any rips, signs of over-painting or corrections? Has the color faded, are there watermarks or does it need cleaning? Never try to fix a painting up by yourself! There are professional restoration experts who can carefully, gently improve the overall appearance of the work, without making it obvious.
If this painting has been handed down from generation to generation, or owned by prominent figures, then the value of your piece could increase significantly, although it’s rare to find paintings with complete ownership/artists records. You can check with the Fine Art Registry to see if your piece has ever been tagged and logged into the system.
It never hurts to do a little digging on your own to get a general idea of the marketplace and what art appraisals will cost. AskArt.com or FindArtInfo.com offer both free and subscription levels of viewing the selling prices of various artists. See if your piece is selling for hundreds, thousands or millions before deciding whether or not you’re in need of an official art appraisal.
You may find yourself strapped for time and gumption. Trying to guesstimate the price of your artwork may not be suitable, if you’re looking to sell for top dollar, or if you know your piece is worth a lot of money. In this case, it’s wise to check out the Art Dealers Association of America. They’ve been doing art appraisals for over 40 years and have seen more than 23,000 works, some with total values exceeding 2 billion. Additionally, one may find not-for-profit appraisals at the American Society of Appraisers, the International Society of Appraisers or the Appraisers Association of America. Be aware that the price for a fine art appraisal may be $250 or more.
Tags: art appraisals, art investment, artist signature, artists records, arts resources, auctions on eBay, fine art for sale, marketplace, sell fine art, watercolor art
