Preparing for a fine art appraisal can seem daunting, but with the right preparation, you can ensure a smooth and accurate valuation process. Here’s a breakdown of how to best prepare for your appraiser’s visit.
**Before the Appraisal:**
* **Accessibility is Key:** Gather all items to be appraised in one easily accessible location before the appraiser arrives. This saves time and ensures nothing is missed.
* **Documentation is Your Friend:** Provide any records related to the artwork, including purchase receipts, provenance information, and any previous appraisals. Receipts are particularly helpful, as they often contain the artwork’s title, which may not be readily visible. Even if the artist is still living, they may not remember specific details about older pieces.
* **Respect the Process:** Appraisers typically need around 15 minutes per item for inspection and photography. Allocate enough time for them to thoroughly assess each piece without feeling rushed. While friendly conversation is welcome, allow the appraiser to focus on the task at hand to avoid overlooking important details.
**Discussing Value Upfront:**
When initially contacting a prospective appraiser, be prepared to provide the following information:
* **Artist Information:** Provide the artist’s full name.
* **Medium:** Specify the medium of the artwork (e.g., oil painting, bronze sculpture, limited edition print).
* **Condition:** Honestly assess the condition of the artwork, particularly if you’re unsure whether it warrants a formal appraisal. Transparency helps the appraiser determine if further evaluation is necessary.
**State Your Purpose:**
Clearly explain the reason for the appraisal. The intended use of the appraisal significantly impacts the valuation approach. For example, an appraisal for insurance purposes will differ from one intended for estate tax purposes or charitable donation. Different markets are considered depending on the reason for the appraisal, which directly affects the value assigned.
**Timeframe Expectations:**
Communicate your desired timeframe for receiving the completed appraisal document. Be realistic about deadlines, especially for large collections. If you require a rapid turnaround, inform the appraiser upfront, understanding that it may impact their availability or necessitate a referral to another qualified professional.
**Special Considerations:**
Inform the appraiser of any unusual conditions related to examining the artwork. This might include the need for a ladder to reach a high-mounted piece, the requirement to access a sculpture located in a pool area, or any other factors that might influence the appraiser’s preparation or attire. Proactive communication ensures a safe and efficient appraisal process.