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Antiques & Fine Art Appraisals & Advisory Services |
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(FAQ)
Frequently Asked Questions |
| What is an appraisal? |
| An
appraisal is an informed opinion of the value of an object, based on an in-person
inspection of the item or photographs of it, knowledge and research into the value
and recent selling prices of similar items and the review of available documentation,
such as provenance and sales receipts. |
| Why can there be different estimates of value? |
Antiques
can have different types of valuations - valuations for insurance and valuations
for sale, for example - and each meets a specific need. Replacement value is the
amount used for insurance purposes, and is generally higher than an estimate of
what the same object might sell for at auction. Retail value is the price you
see on an object in an antique shop or gallery and it too is generally higher
than an estimate of what the same item might fetch at auction. If you try to sell
to a dealer an antique that you have had valued for insurance purposes, the dealer
will offer you substantially less than the insurance valuation estimate.
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| Why (or in what circumstance) would I seek professional appraisal or related services? |
| Few
private individuals have the extensive expertise and up-to-date knowledge required
to accurately estimate the value of their possessions. A documented and informed
estimate of the value of an antique or piece of art is useful in many situations.
It helps establish a price in sales transactions, it can ensure that family property
is divided fairly, and it is critical in setting up insurance coverage and making
claims. In addition, professional appraisals are required for certain purposes,
such as probate or tax-receipted charitable donations. back to top |
| What should I look for when choosing an appraiser? |
There
are no legal or professional body requirements to meet to practice as an appraiser.
Ask potential appraisers about their education and specific qualifications as
well as their experience, expertise in any particular area, and whether they hold
any professional affiliations, such as membership with the Canadian Association
of Personal Property Appraisers/Canadian Property Appraisers. The
fees charged by a reputable appraiser should be hourly, a per-item amount, or
a fixed price for an entire collection. You should not agree to pay as the appraisal
fee, a percentage of the appraised value of an item or a collection. |
| Why do you not buy directly from or sell to clients? |
Janet
believes it is a conflict of interest for an appraiser to buy directly from clients,
or to sell directly to them. Appraisers are in a position of trust with their
clients. They are hired to provide expertise that the client does not have. An
unscrupulous appraiser may suggest valuations that are below fair market value
in order to buy a piece for a low price. |
| What is the best way to market and sell my antiques, fine arts and collectibles? |
| Should I clean and repair my antiques or just leave them alone? |
I
want to take my own pictures of my antiques. |
| Do you do speaking engagements? |
Yes,
Janet is a regular speaker at corporate and association events, fundraisers, antique
identification clinics and educational seminars. Click
here to contact Janet for more information. |