What Is an Appraisal?
A formal appraisal is a documented opinion of value prepared for a specific purpose, such as estate or trust matters, insurance, charitable donation, equitable distribution or other situations requiring a written valuation.
A formal appraisal is different from the complimentary initial evaluation or auction estimate we may provide when considering property for sale. If you're interested primarily in selling your property, you do not need to obtain an appraisal before contacting us.
How Does the Process Work?
1. Tell Us About the Property
Contact us with information about the items or collection and the reason you need the appraisal. Photographs and any available information about the artist, maker, provenance or purchase history are helpful.
2. We Determine the Scope
We review the property and intended use of the appraisal to determine the appropriate scope of work, whether an in-person inspection is necessary, and the anticipated time and cost involved.
3. Research & Evaluation
We examine and research the property using relevant market information, comparable sales, provenance, condition and other factors appropriate to the assignment.
4. Appraisal Report
For formal appraisal assignments, we prepare a written report documenting the property, the appropriate type of value and the basis for our conclusions.
What Determines Value?
Value is not static. The market for fine art, antiques and collectible property changes over time, and value can be affected by factors including artist or maker, rarity, provenance, condition, quality, demand and recent comparable sales.
The purpose of the appraisal also matters because different assignments may require different definitions of value.
What is the Cost? Our appraisals are a billed professional service. We charge by the hour plus any applicable travel time. The type of appraisal you are seeking and the object(s) being appraised determines the scope of work required to produce your appraisal document. We charge a minimum of 1 hour for this service.
Please contact us to request additional information particular to your collection or estate. 314-778-9000 or by email at info@woodardlipe.com
