A painting’s worth depends on the artist, condition, provenance, size and current market demand, not sentiment or purchase price. A qualified appraisal turns those factors into a documented, defensible value for insurance, sale, donation or estate purposes.
Questions and Answers
What is an art appraisal?
It’s a formal, written opinion of value prepared by a qualified appraiser, describing the work, its condition and history, and the value type requested, such as fair market value, replacement value or marketable cash value.
Who is qualified to appraise art in the U.S.?
Look for a member of a recognized organization such as the Appraisers Association of America (AAA), the American Society of Appraisers (ASA) or the International Society of Appraisers (ISA), whose members follow the Uniform Standards of Professional Appraisal Practice (USPAP).
How much does a professional appraisal cost?
Reputable appraisers charge a flat fee or an hourly rate, not a percentage of the artwork’s value; a percentage-based fee is considered a conflict of interest by USPAP standards and most professional appraisal organizations.
What information should I gather before an appraisal?
Clear photos, the artist’s name and signature, dimensions, medium, any labels or inscriptions, purchase documents, and prior exhibition or sale history. See our guide to identifying an unknown painting for how to read those clues.
Do online or app-based estimates replace a formal appraisal?
They can give a rough, informal starting point, but a written USPAP-compliant appraisal from a qualified appraiser is what insurers, the IRS and courts require for high-value insurance, donation or estate purposes.
Artists and Posts Mentioned
Sources
- Appraisers Association of America
- American Society of Appraisers
- International Society of Appraisers
- IRS: Determining the Value of Donated Property
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