For What It’s Worth…
So… you bought, inherited or stumbled upon a piece of art. Now you’re looking to sell or insure the work and wondering what its worth. Here’s all you’ve ever wanted to know about determining a work of art’s value.
At dk Gallery we specialize in Contemporary Fine Art. If the work of art in question is by an artist that we represent, we may be able to help you out in estimating a current value; however, we do not provide appraisals.
What Is An Appraisal?
An appraisal is a valuation of property provided by a professional appraiser. A professional appraiser will prepare a comprehensive report that provides his/her opinion of an item’s value at a given point in time. Appraisals may be done for any type of property including art.
Preparing an appraisal involves research and analysis of all pertinent information and the proper experience, knowledge and judgment to make a justifiable opinion of value. You should always verify your appraiser is certified and accredited by a reputable organization such as the American Society of Appraisers.
When Is An Appraisal Necessary?
Impartial appraisals provide peace of mind and help eliminate disputes over value.
A certified appraisal is an important tool to assist with the equitable distribution of assets when leaving objects to children or other family members or in the event of dissolutions of business or marital relationships.
Loss or Damage:
These types of appraisals identify the value of the damaged or lost property to facilitate claim settlements and disputes.
To determine the Replacement Value, most commonly at retail, of an object in order to accurately provide for insurance coverage. *If you would like to insure your artwork on a separate policy, most insurance companies require a recent appraisal.
Gift Taxes and Charitable Contributions:
To determine the Fair Market Value of an object given to an accepting organization or institution in order to aid in establishing the donor’s income tax deduction.
Avery Gallery, INC.
390 Roswell Street
Marietta, GA 30060-8220
David Knoke Fine Art
Debbie Charter/ David Knoke
25 Alexander Street
Marietta, GA 30060
425 Peachtree Hills Avenue NE, Suite 30-A
Atlanta, Georgia 30305