Coronado Appraisals LLC

826 Orange Ave. Ste.# 147, Coronado, CA 92118-2619
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8 Reasons Why You Need An Appraisal

Did you inherit a painting you saw hanging in your grandparent’s house when you were a child? Or, have you ever purchased art from a Thrift Store? You might be thinking you love it because it has sentimental value, but there is no way it has fiscal value. But, how do you really know? Have you ever watched the Antique Road Show? People, out of curiosity, bring items, that do not necessarily look like they have value, yet they walk away learning differently.

There are many factors to consider when valuating your artwork, and no one is more familiar with this process than a Fine Arts Appraiser.

Let us give you a few reasons why having your ‘Fine Arts’ Appraised is Incredibly Important:

  • Selling ~ If you wish to Sell your Fine Art/s through an Auction house or Gallery, or any other third party, you will Have to have an Appraisal, completed by a licensed or accredited appraiser. Besides, it is important for you to get the proper Value on your Fine Art. As your appraiser we can tell you what the Value is and what to expect as you sell. We do not leave any Client in the dark.

 

  • Insurance Need ~ Don’t let yourself lose out by Not having your Fine Art/s insured. If something happens to your artwork, then make sure you get the Correct Reimbursement, and the Only way this is possible is to have an Appraisal previous to the incident. Our appraiser has worked in the Insurance field, for over 19 years, and knows this process inside and out.

 

  • Insurance Claim ~ Now that you have Insurance on your artwork and something happens to it, such as then your insurance company will need to know the Degree of Loss on your Fine Art. Sometimes your artwork can be Repaired and other times you will be allowed to Take a Total Loss. You must have a Current Appraisal (after the Loss) for the insurance company to give you a check. You’re in luck! Our Appraiser is also a Fine Art Restorer. (Check out our Restoration Page to see some of her work; click here.) Tip: Do Not put your damaged and possibly wet Fine Arts into a **sealed plastic bag. This can cause mildew…which is next to impossible to remove. Leave it to your Art Restorer or Restoration Company. Ask questions if you are unsure.

 

  • Curiosity ~ Do you ever wonder if what you own has any value? Curiosity leads to decisions such as selling or insurance need. An appraisal can sometimes reveal the history of your artwork, which is fascinating and can add mystery or a captivating story, which you can share with others. 

 

  • Divorce or Bankruptcy ~ This is the time where everything gets divided out between the couple, or legally reviewed; including the Fine Arts. You, and your attorney will need the Correct Value.

 

  • Estate Planning and Probate ~ If you or a loved one is Preparing a Will, then you need to know what the Value is on everything you own. It may come to a point, where an attorney and judge will have to be involved, then they (especially the judge) will prefer to use the Value given by a licensed or accredited Appraiser. This is where we come in, as our Appraiser is accredited with the International Society of Appraisers and American Society of Appraisers. She has been in the Art world for over 50 years, and in the Appraisal business for 17 plus years!

 

  • Charitable Gifting ~ If you are planning on Gifting a Fine Art to a museum, school, or another individual, you must get this ‘piece/s’ appraised First. In order to have the Proper Tax Deduction You Must Know the Value; otherwise, the tax deduction will be based off what the organization chooses for you. Form 8283 will have to be filled out and signed by your Fine Arts Appraiser. We can give you more information on this, or you can consult with your tax adviser.

 

  • Timing/Provenance (History) ~ It is easier to get the proper value, when Speaking to the Original Purchaser. Knowing the owner’s history with the ‘piece’ is crucial to us, the Appraiser. If the Original owner is Not around, then make sure you have as much of the History of the piece, that you know, written down. This will Benefit Your Children and Grandchildren as it allows them to know a part of their family history, and it will continue to help with updating the appraisal. Tip: This History, the story of how it was purchased or by whom…etc., is important and can add Value to Not only your Family History but to the Fine Art as well!!

If you NEED an Appraisal or Restoration, then contact us at: Office: 619/929-6192 (No texts)

Email: coronadoappraisalsllc@gmail.com

“We Bring You Truth”

**If you are unsure what may cause mildew, or have further questions feel free to contact us, 619/929-6192. When gathering said items, and storing in a unsealed plastic bag, for a short period of time, may or may not cause further damage. However, remember to move all Fine Arts out of the plastic bag as soon as possible….. Or allow your Restoration company to remove from the location, as long as they are familiar with the proper procedure.