At Off Piste, we understand that collecting art is both a passion and an investment. Whether it’s a single cherished piece or an expansive collection, proper care ensures that your art continues to inspire and hold value for years to come. One essential component of that care is an accurate, professional appraisal.
In this guide, we’ll walk you through what an art appraisal is, why it’s important, what to expect from the process, and how to find a qualified appraiser you can trust.
At Off Piste, we believe a well-cared-for art collection can provide decades of enjoyment for collectors. Ensuring artworks are accurately appraised is one important component of an overall art collection care plan.
What is an art appraisal?
An art appraisal determines the value of a piece of art, whether it’s an individual artwork, a group of artworks or a large collection of hundreds or thousands of pieces. Art appraisals can be conducted on behalf of private collectors, businesses, estate or institutions.
What should I know about the process How do I find an experienced art appraiser? ?
Before obtaining an art appraisal, the report’s intended use must be identified. Examples of intended use of an art appraisal include Insurance Replacement Value: for up to date insurance coverage and Fair Market Value: for selling artwork. Appraisal values vary depending on the intended use. It’s recommended that contemporary art should be appraised every 3-5 years due to value fluctuations . Ensuring insurance policies, tax paperwork for charitable donation, etc. reflect current and accurate art values.
How do I find an experienced art appraiser?
Choosing a professionally-trained art appraiser is crucial to guarantee the final appraisal report’s acceptance by insurance companies, the IRS and prospective buyers. Organizations including the American Society of Appraisers (ASA) and the International Society of Appraisers (ISA) ensure their members abide by the highest ethical standards, are informed of all current government regulations impacting Personal Property and will generate a final appraisal report that will adhere to the Uniform Standards of Appraisal Practice (USPAP).
For an initial appraisal consultation, contact our fine art appraisal partner, Stefanie Miller, ISA AM: Appraisal Services | Sun Valley Contemporary Gallery, Ketchum ID, USA