INVALUABLE INSIGHTS & FAQ
Why One-Page Appraisals Fail You
In the world of professional appraisals, shortcuts come at a cost — and it’s usually yours. An appraisal can significantly impact your financial outcome. Yet, a disturbing trend continues to surface: the one-page appraisal. Let’s explore why they are unprofessional, unreliable, and unsafe.
Is AI and Tech Transforming Appraising?
In today’s digital world, nearly every profession is being transformed by technology. The field of personal property appraising is no exception. From high-resolution imaging and blockchain provenance records to AI-powered market analysis, tech is changing everything. But even with these powerful tools at our fingertips, one thing remains constant: the irreplaceable value of human expertise.
How Pricing Art is Not Appraising Art
One of the most common questions I hear, especially from artists, is “What is my art worth?” While this is a completely valid question, it’s important to understand that the answer depends entirely on the context. There is a big difference between pricing art and appraising art, and knowing which is appropriate can save a lot of confusion and lead to better decisions for everyone involved.
Ethical Considerations in Art Appraisals
In the world of art appraisal, trust is everything. Whether working with attorneys, museums, insurers, or estate planners, clients rely on appraisers not only for our knowledge and experience but for our integrity. The value we provide lies not just in the numbers we report, but in the professionalism, impartiality, and ethical rigor with which we approach every assignment.
Understanding the Difference Between the Primary and Secondary Art Markets
As an art appraiser, I often encounter collectors—both seasoned and new—who grapple with the distinctions between the primary and secondary art markets. These two interconnected but distinct realms are vital to understand if you wish to navigate the art world successfully, whether you're acquiring works for aesthetic pleasure, investment, or both. Let’s break down these markets, their nuances, and how they operate to help you make informed decisions.
The Cost of an Appraisal: What You’re Really Paying For
As an accredited appraiser with the International Society of Appraisers (ISA), one of the most common questions I encounter is: “Why do appraisals cost so much?” It’s a fair question, especially when clients are unfamiliar with what goes into the process of valuing personal property, particularly fine art. The cost of an appraisal can feel significant, but understanding the rigorous work, expertise, and expenses involved can shed light on why these services are worth the investment.
Sustainability in the Arts: A Collector's Guide to Climate Challenges
Protecting art in the face of climate change requires both vigilance and adaptability. By reviewing and upgrading insurance policies, enhancing storage and display conditions, and planning for future risks, collectors can ensure that their treasures withstand the test of time. With climate change posing an existential threat to our shared heritage, taking action today is an investment not only in the value of art but in its legacy for generations to come.
How Appraisers Collaborate with Museums and Galleries
In the intricate world of art, collaboration between appraisers, museums, and galleries plays a crucial role in preserving and valuing cultural heritage. Whether it’s for insurance valuations, loan agreements, or donation assessments, appraisers bring specialized expertise that benefits both the institutions and the art itself. Here’s how this collaboration unfolds and why it’s essential for museums to work with accredited appraisers.
Collecting Trends in the Art Market
For collectors, staying informed about current trends is essential for making smart investments and building a collection that not only reflects personal taste but also has the potential for financial appreciation. In this blog post, we’ll explore some of the key trends shaping the art market today, including the rise of emerging artists, the growing popularity of certain styles, and shifts in collector interest.
The Art of Appraising: Demystifying the Process
Appraising fine art is a meticulous process that requires a deep understanding of art history, market trends, and valuation techniques. This blog post walks you through the appraisal process from the initial contact to the final report submission, highlighting the careful steps and techniques involved.
The Impact of Provenance on Value
In the art world, provenance—the history of ownership and origin of an artwork—plays a crucial role in determining its value. An artwork's provenance can elevate its market value, enhance its historical significance, and increase buyer confidence. Conversely, gaps or uncertainties in provenance can diminish an artwork's value, or worse, cast doubt on its authenticity.
Insurance Claims and Art, Navigating Loss and Damage
Navigating insurance claims involving art requires a deep understanding of both the art market and the insurance industry. Appraisals are the cornerstone of this process, ensuring that the value of lost, stolen, or damaged art is accurately reflected in the compensation offered by insurance companies.
Philanthropy in Art: Appraisals for Donations and Gifts
Art has always been more than just a reflection of culture and society; it has the power to influence, educate, and inspire. Beyond its aesthetic and cultural significance, art can also play a vital role in philanthropy, offering substantial benefits both to the donor and the recipient. When it comes to donating art, whether to museums, universities, or charities, the process of appraising the artwork is crucial.
Appraisals for Estates: A Guide for Attorneys and Estate Planners
Estate planning is a critical process that ensures a smooth transition of assets from one generation to the next. For Canadian attorneys and estate planners, understanding the value of a client's assets, particularly fine art, antiques, and other collectibles, is essential. An accurate appraisal can significantly impact tax liabilities, the distribution of assets, and the overall estate plan.
What Is USPAP and Why It Matters in Appraising
The Uniform Standards of Professional Appraisal Practice (USPAP) is much more than just a set of guidelines; it is the cornerstone of ethical and professional practice in the appraisal industry. Let's delve into what USPAP is, why it is important, and how it serves as a critical credential for appraisers, especially in an industry where there is no formal licensing for personal property appraisers.
How Appraisers Charge for Their Services
Understanding how appraisers charge for their services can be confusing. This blog post aims to clarify how appraisal fees are determined, emphasizing the importance of hiring a qualified professional who adheres to ethical standards.
What Type of Appraisal Services Do You Need?
More often than not, clients request an appraisal, assuming that there is a one-size-fits-all report that can satisfy any need. However, valuation services are more nuanced, with each type tailored to specific purposes. Understanding these differences is crucial in ensuring that you receive the appropriate report for your needs, whether it's for insurance, estate planning, donation, resale, etc.
The Role of the Appraiser vs. the Authenticator
Art appraisers often get asked to authenticate works of art from the general public. An understandable request since the value of a work of art is undoubtedly tied to its authenticity. If authenticity is in doubt so is its value. So, do appraisers also authenticate art?
What is a Qualified or Credentialed Appraiser?
Risk is always involved when there's a question about the value of your personal property – including fine art. By providing a written opinion of value upon which you can base your financial decisions, a professional appraiser can help you mitigate these and other such risks.
How the Norval Morrisseau Art Fraud Scandal Challenges the Work of Appraisers
The widespread circulation of forged Norval Morrisseau paintings has cast a long and damaging shadow over his legacy, the art market, and the professionals who engage with his work. The presence of even a small number of forgeries in the market can cause hesitation among buyers, but in the Morrisseau scandal, authorities uncovered hundreds, if not thousands, of fakes.