Professional Art Valuation
When determining the worth of your artwork it is important to know the difference between a valuation and appraisal.
A valuation is an estimate of the value of your collection based on knowledge from multiple sources in the art world. This can be completed by gallerists, curators, auctions, or dealers.
An appraisal is a formal and widely accepted process of determining the value of artwork that includes a certificate for tangible proof of your artwork’s value.
Why Valuation Matters for Your Art Collection
The most important reasons for getting a valuation of your artwork are:
- Charitable Gifting and Estate Planning: Valuation is required to determine the type of tax break or estate tax due when passing along pieces in your collection.
- Sales: You will need to know the value of your artwork to determine an appropriate asking price if you ever plan on selling them.
- Restoration: If your artwork is damaged and needs repairs, knowing the current value will help determine the actual cost of the damage if the cost to repair is worth moving forward with.
- Art Financing: In order to use a piece of artwork as collateral for a loan, a professional and recent appraisal will be required.
- Insurance: Make sure you have the current value—within three years—of your piece in the case of a loss. Insurance companies will need a professional appraisal, and often times photos, to make the decision about your claim.
Submit Artworks for Valuation
Online valuations make it easier and quicker to find out how much your antiques, art paintings and collectibles could be worth.
Our valuers are always delighted to receive images and descriptions of your antiques, art paintings and collectibles for valuation. We may be able to identify even the rarest of items from a photograph although there is no substitute for valuing items in person. An online valuation gives you a preliminary guide and a comprehensive indication as to the value of your item. Send your artworks to our email which is info@artexpress.co.ke
