The Fine Art Of Valuation

A lot of people are passionate about collecting valuable art pieces. For some it’s sheer interest while for others it’s an investment. For insurance purpose or any other reason, you must get the valuation done of your fine art collection. And for this you would need an expert who has deep knowledge of the field.

Appraising a work of art in itself is an art that requires expertise. You can seek help of fine art valuation service like Prestige Valuations. It’s a trustworthy valuation service on which you can totally bank on. So if you have an art collection and want to get it insured or sell it, you need to get your artistic possession valued first. You need to give your insurance company a certified document by an accredited valuer. The document will be the proof that you own that work of art, on a certain date. The valuer will appraise it, describe it in detail and value it at a certain amount. This fine art valuation document will assure that you will make it hassle free in getting reimbursed from the insurance company in case of a future loss or theft.

Appraising any work of art requires an expert eye. Art valuation involves deep research and accurate calculation and perfect documentation. A painting can be antique or contemporary, and its value can vary depending on its worth in the art market. Estimating fair market value or replacement value for any valuable painting is tricky and intricate. And this is where a certified, accredited valuer comes into picture. Another crucial thing needed when it comes to the valuation of art is ethics. Certified valuers must adhere to ethical standards.

While valuing an antique painting, an art valuer sets a fair market value which is based on the amount a willing buyer is ready to shell out for that painting. But if you want a valuation certificate for insurance purpose, its replacement value is assessed. It is the amount necessary to replace an art piece with another one, alike in appearance and condition within a period of time in a related market. And to do this kind of valuation, you need a skilled valuer.

Paintings and sculptures are made by artists as unique pieces of art. So their replacement value is its current retail value of some comparable painting or sculpture or any other work of art. That is where the skills and experience of the fine art valuer comes in. An expert valuer will know the styles of paintings, quality of colours and work, old and contemporary artists and other details about the field. The valuer would research thoroughly the relevant market before appraising any work of art. The bottom line: an art valuer must know the fine art of valuation!