Art Appraising Tips!

The initial source and value of a work's artistic charisma has long been debated between artists who create works  and the patrons who enable them to do so, but the charismatic power of artworks on those who would possess them is historically the initial driver of value. In the 1960s that charismatic power started edging over to accommodate commercialized culture and a new industry of art, when aesthetic value fell from prominence to parity with Pop Art and Andy Warhol's  idea of business art, a recognition that art has become a business and making money in business is an art. One of many artists to follow Warhol is Jeff Koons a stockbroker turned artist who also borrowed imagery from popular culture and made millions.

There is an emotional connection towards works of art and for collectors, this creates a subjective personal value.  The weight assigned by a collector to that subjective measure is only a portion of a works overall financial value, as that may be greater than that by an art speculator who is as invested emotionally as the art collector. However, non-economic value measures such as "Do I like it?" or "Does it speak to me?" still have economic effect because such measures can be deciding factors in a purchase.

    

In contrast, the Art Dealers Association of America (ADAA) suggests that the key issues are authenticity, quality, rarity, condition, provenance and value

     

Let's say you either inherit or have owned art for years or even decades and decide to sell. Without current appraisals, you make an easy target for unscrupulous buyers who might tell you it's worth one thing when it's really worth much more. You have no idea what your it's worth; they do. So for them, taking advantage is simply a matter of gaining your trust. You can sell way too cheaply without any idea you're doing so, and the bad news is that if you do, you have little or no recourse for recouping your losses. Appraisers and consultants protect you from these kinds of unfortunate outcomes.

    

1.  If you're an artist, an appraiser or similar professional familiar with your type of art can help you make sure your prices are in line with your market. Sensible selling prices make it easier to make sales. Appraisers can also show you how to explain your prices to anyone who asks. It's always easier to sell art to people who understand what kind of value they're getting for their money.

    

2. If you own original art and have never had it appraised or you lack current price information, have an appraiser value it, at least for insurance purposes should the art ever get damaged or stolen.

    

3.  Update appraisals every three to five years or before changing the disposition or ownership of any work of art you own. Art prices fluctuate over time. Updating appraisals is mainly done for insurance purposes.

    

4. If you're not an experienced collector, get an appraiser's or advisor's opinion before buying works of art from dealers or galleries you don't know or have never done business with before, especially if you're shopping online at either fixed price or auction sites where you may not even be sure who the real seller is.

      

5.  Never give away, throw out or otherwise get rid of any art you own, no matter how bad you think it is, what you think of the person who gave it to you, what condition it's in or how unimportant you think the artist is. Always have an experienced professional inspect and evaluate it first.