How To Find An Art Appraiser

Navigating the Art World: A Guide to Finding the Right Art Appraiser

Navigating the Art World: A Guide to Finding the Right Art Appraiser

The art business is a robust and multi-faceted industry, generating hundreds of billions of dollars for the economy. It can also be challenging to navigate and understand where to turn for trusted professional guidance. Value matters, and when it is time to find a qualified art appraiser for your collection or an individual work of art, there are ways to help you find the right fit for your needs and types of art. Art appraisals are a crucial step in determining the value of your art, whether for insurance, donation, resale, or estate planning. Entrusting this task to a qualified art appraiser is essential. Here’s a comprehensive guide to help you find the right art appraiser for your needs:

1. Professional Associations

Start your search by exploring reputable professional associations recognized by the Appraisal Foundation of America, which Congress authorizes as the source of standards and appraiser qualifications. These organizations often have directories of certified appraisers ensuring a certain standard of expertise. A qualified appraiser organization will require background references, thorough training, testing criteria, and a rigorous code of ethics, which appraisers maintain. For fine art, there are three leading appraisal organizations:

The International Society of Appraisers (ISA) - www.isa-appraisers.org

The American Society of Appraisers (ASA) - www.appraisers.org

The Appraisers Association of America (AAA) - www.appraisersassociation.org 

2. Local Auction Houses, Galleries and Museums

Contact local auction houses, galleries, or museums. They are deeply embedded in the art community and can provide recommendations based on their experience with appraisers. Some may even offer appraisal services themselves. Most insurance companies and the IRS will not accept an appraisal from the gallery that sold the work to you, and this is considered a potential conflict of interest in the appraisal industry, so it is essential to find an impartial third-party appraiser. 

3. Online Directories

Utilize online directories that specialize in connecting individuals with professional appraisers. Websites like The Appraisal Foundation www.appraisalfoundation.org or even online databases such as Art Collecting www.art-collecting.com can be valuable resources in your search. 

4. Specialization Matters

Consider the specialization of the appraiser. Different appraisers may have expertise in specific types of art, such as paintings, sculptures, or antiques. Choose someone whose skills align with the nature of your collection.

5. Credentials and Qualifications

Verify the appraiser’s credentials and qualifications. Look for certifications from recognized institutions, ensuring they adhere to professional standards. Accreditation from organizations like ISA is a positive indicator. Beware of appraisers who have online certificates from an organization that is not vetted and does not test and train their appraisers or require continuing education or requalification standards. Ask how long the appraiser has been conducting appraisals—experience matters. 

6, Transparent Fee Structure

Inquire about the appraiser’s fee structure upfront. A transparent breakdown of fees, whether hourly rates or a flat fee, is essential to avoid any surprises later in the process. Appraisers are prohibited from charging a fee based on the value of the art; this is an ethical violation and conflict of interest. An appraiser may be unable to pinpoint the exact cost before they begin, especially if it is an extensive collection. Still, it is crucial to understand their hourly rate or project-based fee structure.

7. Communication Skills

Effective communication is vital. Ensure the appraiser is willing to explain their methodology and valuation process in a way you can understand. Clear communication builds trust throughout the appraisal journey. Understanding how long this will take and what you can expect during this process is important.

8. Ethics and Integrity

Choose an appraiser who operates with the highest ethical standards. The Appraisal Foundation’s Uniform Standards of Professional Appraisal Practice (USPAP) sets the industry standard for ethical conduct. A professional appraisal will include a signed USPAP certification statement from every appraiser, ensuring they have complied with those standards. 

9. Local or Online Appraisal

A lot of appraisals can be conducted online, especially for resale purposes and often for estate planning purposes. Some insurance companies will require the appraiser to conduct an on-site personal inspection of the art to be accepted by the insurance company. Sometimes, just Googling “Art Appraiser Near Me” is how people find an appraiser qualified to work with them. Check their website and ensure they have experience appraising the art types you need to appraise. Most appraisers will have a specialty, but some appraisers are called Generalists and often handle multiple types of items, including furniture and household contents. 

10. Other Appraisers

If you know of an appraiser in your area, but they do not work in the specialty you need, such as books or jewelry or even some specialties like Asian Art, they should be able to recommend a qualified appraiser they know or trust. As members of appraisal organizations, appraisers regularly meet with, study with, or have access to specialty appraisers and often work together to benefit the client. Your local appraiser could be the onsite person who examines the work, and they contract with the specialist to research and value the item based on your notes, photographs, and descriptions. This can be a precious time and cost saver for clients.

When fine art is involved, it is essential to work with a specialist because a competent expert in modern and contemporary art will often have experience buying, selling, and working in the market, often as a dealer or art advisor, and can distinguish the difference between a $60,000 painting and a $600,000 painting. You don’t want surprises, and you don’t want to be underinsured or overinsured. It is essential to have an accurate valuation of your fine art.

In Summary

Finding the right art appraiser is crucial in ensuring your art is valued accurately. Take the time to research and choose someone who possesses the necessary skills and aligns with your specific needs and preferences. With the right appraiser, you can navigate the art market confidently and make informed decisions about your valuable collection. 

Appraisers often become trusted advisors for their clients, offering additional services and trusted referrals in the market, such as professional framers, conservators, art insurance providers, shipping and handling and installation experts, and contacts for museums, dealers, and auction houses. As appraisers, we have a network of art world professionals we trust, work with, and understand the importance of collection management. Appraisers can make introductions and referrals when it is time to sell items in your collection. Trust your instincts. 

How To Sell Art At Auction

Auction houses are a viable option to sell your fine art collection if the conditions are right. Qualified appraisers and advisors can help determine if the auction market is the right choice to sell your fine art. Not all auction houses are created equal or can sell collections at a fair market value, especially if they do not have the marketing capabilities or buyers and messaging to reach those buyers. Researching the market before you commit to working with an auction house and knowing the process and your rights is essential. The actual completed sales are typically public knowledge, but some details still need to be discovered, such as the commission and fee structure charged to the client and how long they have to market the work. 

Not all art is created equal. Claude Monet and Pablo Picasso are two of the most well-known and collectible artists of all time, but not all of their works will garner the high prices we have come to know from the blockbuster sales that are now well known. An original Monet painting could sell for over $600,000,000, but a lesser quality, different medium, or scene painting with less than solid provenance could sell for $600,000. A smaller pastel with darker colors will sell for far less than that. There is a wide variation in values within the same artist. An experienced Art Appraiser will help you understand that difference and what your art is worth, establish a fair market price, and help you navigate the often confusing art market while negotiating the terms and conditions of the sale to optimize your profits and mitigate potential pitfalls or risks.

The art business is a constantly evolving market with the artists that sell the highest changing as styles, markets, galleries, museums, collectors, and times change. Often, what was collectible 20 years ago differs from what is collectible or high-value today. Appraisers must use the most recent data, as the best indicator of the current market, when conducting appraisals. As an Appraiser, I look at historical data and value ranges but use the most current data (preferably within the past three years) to determine current market values. Sometimes I research 20 years of data because a client paid $35,000 for a painting 20 years ago and expected it to go up in value, and the current sales prices are pointing to a value of $10,000, so I have to explain that difference to my clients and often show them the data.

When you are ready to sell your art through an auction house, there are some critical steps to consider. The first thing you must do when trying to sell any fine art is to determine what you have:

1. Artist Name - this is the most crucial and least understood aspect to determine. Is it the same Albert Bierstadt (Germany/US 1830 - 1902) or a painting with a Bierstadt signature? Is it a copy, a forgery, or a fake?

2. Medium - Is your fine art an original painting, oil or acrylic on canvas or board, a watercolor, or a print? If it is a print, is it an original print with a hand signature, a reproduction print done after the artist's lifetime, or in the case of contemporary artists, was it mass produced in an unlimited quantity? These all affect the value of the art.

3. Condition - what is the condition of your art? The condition can significantly affect the value of the art, especially if there are tears or holes central to the composition. 

4. Dimensions - what are the dimensions of your art - framed/unframed? Sometimes smaller works are collectible, but most times, larger works are far rarer and more valuable in fine art. Sometimes, too large works are not as valuable as their smaller works. Only some people have 20 ft ceilings and can hang or keep a 12 ft painting. 

5. Subject/Genre - I have appraised many of Andy Warhol's original screenprints. They range in price considerably even at the same size and quality due to the subject matter. Certain subjects are just more collectible with clients. His image of Annie Oakley is far less valuable than a Marilyn Monroe image.

6. Provenance - this is the history of ownership of the art. Provenance is essential for high-value items that are widely reproduced/forged. Do you have any old receipts, appraisals, or documentation for the works? If not, that is not a deal breaker, as we can still work through the process of having most works authenticated by the accepted experts or estates of the artists. 

Steps To Sell Fine Art At Auction:

1. Research options: Identify reputable auction houses specializing in the type of art you have. Part of my appraisal process is identifying the top prices at auction to help my clients make the best choice when working with an auction house. Every auction house has a specialty or multiple specialties, and they have a roster of buyers looking for certain types of works, and they can sell certain artists for higher values than their competitors.

2. Contact the chosen auction houses to inquire about their submission process, terms, and conditions. I like to get estimates from three different auction houses when I am helping my clients sell their art as they are often three different values with three different terms and conditions.

3. Submit Information: Provide details about the artwork, provenance, and relevant documentation. Most auctions require images, dimensions, and provenance records. Auction houses can be responsible for guaranteeing the authenticity of what they sell, so they need to make sure the work they receive and sell is authentic. 

4. Auction Estimate: The auction house will assess the artwork's value and will suggest a pre-sale estimate.

5. Terms and conditions: Review and agree on terms, including seller's commission and any fees. Most auction houses have a standard commission, but some fees, commissions and conditions are negotiable depending on the value of the art and what else you are selling. If you have a very valuable work the auction house desires or are selling a large collection of desirable works, Art you have more leverage to negotiate. Appraisers and Advisors have experience understanding and helping to negotiate these terms and conditions and can ultimately save you thousands of dollars during the process. It is up to you to ensure you understand all terms and conditions before proceeding. There is a difference between an auction estimate and a reserve price. Some auction houses will set a reserve price at 25% of the low auction estimate, meaning that a piece could sell for 25% less than the low estimate. Some auctions will suggest no reserve, and it is essential to understand all of the terms and conditions and fee structure. 

6. Authentication: Sometimes, you need to authenticate the work before you can sell it, although this is only necessary sometimes, mostly when the values are higher and the works are known to have fakes circulating in the market. Art experts estimate that 1/2 of all the art in the market is fake, and auctions take a very cautious stance. It is assumed to be fake if it does not have a clear and direct provenance. Some auction houses require authentication from experts. A reputable auction house will have resources and art world contacts who can help with this process if you decide to sell with them. 

7. Catalogue and photograph the art: The auction house will catalog and photograph your artwork, creating a detailed listing for potential buyers. Not all art will be included in a physical catalogue, so these are questions you need to ask.

8. Marketing: Auction houses promote upcoming sales through various channels to attract potential buyers. National auction houses have worldwide reach, and buyers can come from anywhere in the world. Most reputable auction houses also have email lists of past and potential buyers and can often pre-sell the work and garner interest before the sale. Everyone's best interest is to attract the most viewers and potential bidders. It only takes two people to create a bidding war and have the work reach higher values. Sometimes, works will sell for much higher than original estimates due to conservative estimate strategies or a bidding frenzy at the end.

9. Auction Day: Your artwork will be included in a specific auction, and potential buyers will bid on it. Auctions can be a fun process and a disappointment to sellers who do not achieve the amounts they hope for. There is always a risk at auction, but the potential for higher rewards is more significant than in a fixed-price sale. You have to determine the amount of risk tolerance you have; it is often an exciting process to watch and be involved in. 

10. Sale and Settlement: If your artwork sells, the auction house will handle the transaction, deducting fees and providing you with the proceeds. Sellers need to understand that this process can take 30 - 60 days to receive a check after the sale. You must know if there are fees for works being Bought In, meaning they fail to sell. Some auction houses charge a fee for this unfortunate occurrence. 

We have compiled a resource book all about selling art at auction, including definitions and terms used in the auction process as well as a list of the top 11 auction houses specializing in modern and contemporary art with a link to their website.

In conclusion, auctions are an exciting and potentially lucrative way to sell your art, but they are often not the best option depending on what you have, the market and conditions. It is important to educate yourself on the process and to get comfortable before you commit to working with an auction house. Art Appraisers and Advisors are valuable resources in this process and can ultimately save you a lot of time and money if you have higher value art. To learn more about our services and how we help our clients at Art Appraisal Resources, please contact us for a complimentary consultation.

Book Review - Rauschenberg: Art and Life

Rauschenberg: Art and Life - third edition, hardcover.

Robert Rauschenberg, (US 1925 - 2008). This beautiful book is a feast for the senses, with inspiring visuals, stories of collaboration, and creative boundary-breaking techniques. This book is a visual storytelling journey of a groundbreaking and influential artist from the 20th century who inspired millions of younger artists. His work is included in major museum and public collections around the world and continues to be collected by sophisticated collectors.

This impressive coffee table book will inspire and delight readers, artists, and collectors for years to come.

The Art of Appraisals: Understanding their Vital Role in Insurance

Whether you're a collector, an art enthusiast, or an artist, knowing the worth of your artworks is crucial. But why? Because in the subjective world of art, establishing value is essential, especially when it comes to protecting your investments. In this post we explore art appraisals' critical role in the context of insurance. 

Understanding Art Appraisals 

An art appraisal is a professional evaluation of the monetary value, authenticity, and condition of an artwork. It is a comprehensive process that is conducted by qualified and certified experts in the field. Hiring an accredited and knowledgeable appraiser is the most important step in any appraisal. 

Determining Insurance Coverage

Art appraisals play a crucial role in establishing  the appropriate insurance coverage for your valuable artworks by determining their accurate and up-to-date market value. This process starts by determining the artwork’s value. Appraisers consider the current market conditions, and take into account factors such as the artwork’s rarity, historical significance, and demand within the art market.

Appraisers evaluate the condition of the artwork, any damage or restoration work can impact its value. A detailed description of the artwork’s condition is provided in the appraisal report. The appraisal report explains the appraisal methodology used for the report.

Once you have the appraisal report in hand, you can present it to your insurance provider. The appraised value serves as the basis for determining the coverage amount for your artwork. Many insurance providers offer policies that are specifically tailored to the appraised value of your artwork. This ensures that you are adequately protected in the event of loss, theft, damage, or other covered perils.

Without an appraisal, you may underestimate the value of your artwork, leading to underinsurance. In such cases, you might not receive adequate compensation if the artwork is damaged or lost.

Importance of Regular Reappraisals

The art market is dynamic, and the value of artworks can fluctuate over time. To maintain accurate coverage, it's essential to schedule regular reappraisals. Some insurance policies even require these updates every few years.

Knowing that your valuable artwork is insured at its true market value provides peace of mind. You can enjoy your collection without the worry of financial loss in case of unforeseen circumstances. 

Art appraisals serve as the cornerstone for establishing accurate and appropriate insurance coverage for valuable artworks. They provide a credible and objective assessment of an artwork’s value, taking into consideration all the various factors that can affect that value. 

If you are in need of an appraisal for insurance coverage purposes, you can start by reaching out to a certified art appraiser. We have locations in both Portland, OR and San Diego, CA.