First off, I applaud you. Isn’t it a great world we live in, where all the knowledge of the Ages… all of it… is right there at end of your fingertips?
How incredibly cool is that? However, Finding It, finding What You Want, and finding the Correct Information, while not becoming confused in an unfamiliar game, is easier said then done. You need to find your painting, your artist, or the comparables for your type of art…such as, ‘School of French Impressionists’, or ‘the Drip School’, etc.? It can become confusing trying to find your exact artist or comparable in order to figure out what it is that you own.
Now, if you have a friend in the Art Industry, or a family member who’s an artist, they can tell you some of things you need to know, which will help you NOT get majorly confused by too much information. Plus, they might have saved you from yourself, and gotten you to the point of additional and more reliable information. However, you still will not be able to sell it for the amount you believe it to be worth, because you do not have a written appraisal by a Professional Art Appraiser. An appraisal needs to be presented to your buyer, or, especially, the consignment gallery, auction house…etc., that will help you Sell your Artwork. Having a legal and professional Appraisal Report is required if you are submitting the information to the IRS, or if the report will be viewed by an attorney or judge.
How can you prove You’re Right?
Let’s say you have a ‘legible’(readable) artist’s name! (This is not always the case.) Excellent: Now, you need to differentiate in your research between this artist (worth 2 mil) and that other artist (worth 2 Grand, max). You could be led astray by your emotions.
Perhaps, your grandmother, back in the day told you this was a SPECIAL piece. Didn’t she say that? …..you’re thinking. You could have this fabulous 2-million-dollar painting. But, whoops, let’s think again: was grandmother or whomever told you it was valuable just before they gave it to you… knowledgeable in the Art Game? Did they know what they were talking about, or rather just trying to impress you? You see, when someone, a grandparent perhaps, or whomever you inherited this painting from, first clapped eyes on it, “back in the day” she/he was enthralled with it… enough to buy it. And, depending on if they were a “Bucks up” buyer or not, it could have been a lot of money to them making them surmise this was a SPECIAL ‘piece’.
Well, the amount the gallery charged might have been influenced by her/his excitement. How many times have we been in a gallery where there are no prices on the wall next to the paintings? The proprietor wants to have a little latitude in his pricing. He wants to judge you by your clothing, your attitude, your vocabulary, maybe even the wheels you drove up in, then he’ll set his prices. The Art Industry is not as clean as you’d like to think. After owning galleries for 17 years, and experiencing the ups and downs of my industry for a total of 49-years including a decade of Art Schools, I know there are a lot of shysters out there. Especially in the Art Game.
Perhaps this ‘piece’ was purchased on-line. First of all, how does anyone really know that what they are buying is what is going to be sent to them? Is it truly a Limited Edition? Is it truly by this esteemed artist, or a ‘knock off’… which looks a lot like your artist, but is not? Even when the ‘piece’ is received by the buyer, how do they really know it was done by the Artist? Signatures can be forged!! It could be a ‘knock off’ or a print with clear paint added to it in order to make it look like an original.
There are many problems with doing your own research; we’ve only touched on a few.
Here is a list of Reasons why you need to hire a Professional Fine Arts Appraiser to give you the Value your ‘piece’ is worth:
- If you believe your artwork to be valuable and you want to Insure your Artwork, your Insurance agent will only Insure it if you have an Appraisal Report by a Professional. Let’s face it, where we live there are many fires and recently lots of rain. If something happens to your artwork, you will want the loss to be reimbursed!!
- If you want to Sell your artwork ~ don’t you want to know what Price to ask for? You might have done your research and now you believe your ‘piece’ is only worth $500, but instead the value was much higher? You could lose out on a lot money.
- Non-Cash Charitable Donation, Estate Planning, Divorce, etc. ~ You have to have an Appraisal done by a qualified Appraiser. Neither you nor anyone in your family can appraise the Art. You need your CPA, Attorney, a Judge all to believe in what you own. They will not consider your personal findings. The IRS will not grant your Tax Deduction without a qualified Appraisal Report.
If your appraiser tells you that your Fine Arts might possibly be worth X. Don’t assume you know better, especially if this is not your field of work!! Appraisers are always learning by going to Continuing Education Classes, Museums, Classes, Conventions, etc. The Fine Arts World is always changing. (i.e. the work of a particular artist may be worth thousands one day, then, in the near future, that value can change in a blink of an eye. They might be Selling better or Worse the following year. They may have passed away and have a large following of Collectors willing to pay more.)
Why Hire US??
Our Appraiser incredibly knowledgeable in this field, she completes her continuing education classes and she provides a thorough and professional Appraisal Report. Plus, we are not that expensive. My goodness, $95.00 per ½-hour, just to look at it, and see if it worth going forward with: That’s not a huge amount to avoid a costly mistake. Don’t make a decision in a vacuum. If you do not have the correct
information about your Fine Arts, whether it being either ‘Up or Down’… well, you’re probably going to make a mistake. How many chances Do you have to come ahead in your life? This item, whether an inheritance, a cool painting from a thrift store, whatever it is, this could be one of those chances. Don’t blow it.
Tip: If you are wanting to purchase Art then we suggest purchasing from a local reputable gallery, as they have their reputation to maintain. They must treat you fairly. Their standing within the Art Community depends on no one speaking against them. This protects you. Buy from the most polished and prestigious gallery in your area, or in the areas you are visiting. They are large and polished, sparkling clean and well known because they’ve been around forever. And they would not have been around forever if they did not treat all their clients fairly.