Helpful Information

We specialize in fine art (paintings, prints, sculpture, etc.)

It depends on the size and complexity of the assignment. Generally, an appraisal can take anywhere from a few hours to a few days.

All appraisals are billed at $175/hour. The size and complexity of the appraisal determines the number of hours billed. An estimate can be provided beforehand.

The minimum charge for any appraisal is $250.

Here are a few definitions of some common appraisal terms -

Intended Use - It is the reason an appraisal is being conducted. It is what the client will do with the report.

Approach to value - is an acceptable method for measuring value or cost of property. There are three approaches: sales comparison, cost, and income.

Sales comparison approach - analyzes comparable sales data as are available to indicate a value conclusion within the market considered most common for the property.

Cost approach - analyzes comparable cost data as are available to replace the property being appraised with a suitable substitute.

Income approach - analyzes comparable data as are available and/or applies a present value formula to calculate the present worth of income anticipated to be generated in the future through sale or lease.

Value - is the monetary relationship between properties and those who buy, sell, or use those properties, expressed as an opinion of worth of a property at a given time.

Fair market value (FMV) - is a value defined by a legal or regulatory jurisdiction and varies with individual jurisdictions. For federal uses in the U.S. such as estate and gift tax or charitable contributions, fair market value is the most probable price at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell, both having reasonable knowledge of all relevant facts, and with the sale being made to the public in the most relevant market taking into consideration the location of the property.

Replacement value - is the amount it would cost to replace an item with one similar and like quality purchased within a reasonable amount of time in the marketplace where the client shops. Replacement value includes not only the replacement costs of acquiring or replicating the property, but also all the relevant costs associated with replacement. These other costs may include all applicable taxes and duties, framing, crating, transportation, etc.

Yes! In cases of damage claims, we can offer a retrospective appraisal assigning values to your items prior to damage.

All insurance companies differ in requirements.