Do I Need an Appraisal to Sell Art?
You don't need an appraisal to sell art works, if you know enough about Chinese art and the market. You don't need to engage the services of a professional appraiser if you are capable of researching the art market, analyzing the sale data and calculating the value of your art object at its most appropriate market place. To serve as your own appraiser or agent, you need to consider (and understand) a set of specialized auction terms, such as the hammer price, buyer's premium, etc. You need to understand how the low and high auction estimates work, and how you should adjust the value estimate to match the quality of your art work. You also need to know how to calculate fees and commissions.
An appraisal report will answer most of your questions, if you have limited knowledge of Chinese art and the art market. An appraiser is helpful if you need professional assistance with marketing strategies. Have you received a vaue or confusing letter from an auction house regarding your art work? No auction house will take the time to explain to you why they are not interested in your art work. This is exactly where the value of an appraisal stands. An art appraisal report prepared by a qualified independent art appraiser provides you with what you need to achieve your goal. Many owners are frustrated, since dealers usually do not take the time to explain unfamiliar terminology regarding the sale of Chinese art works. A prepared owner often stands a much better chance of profit when negotiating from a position of strength.
An appraisal will guide you on the price negotiation. Selling a valuable work of art without an appraisal is difficult. Because you don't know where to start with the asking price and when you need to accept a fair offer. Sometimes, you need to justify your asking price based on the recent performance of items of compatible features. In addition, the art market is quite unlike the real estate market, in that it is mysterious, difficult to learn about, and subject to significant fluctuation. You can’t just look up the previous sales records for the object you wish to sell (or buy). In short, important information or crucial sales data are usually provided in a professional art appraisal.
An appraisal report prepares you for the market, if you have limited knowledge of the current Chinese art market. It directs you to deal with the market with the knowledge and confidence of an insider. Many people assume that an auction house will always offer the best value for their objects, but that is often not true. An informative art appraisal alerts you to the possible sales options or individualized solutions to your specific problems in clear language. The market analysis included in a summary appraisal helps you think creatively about other options, including museum donation, gift to charity, and other measures that can may reduce your tax burden.
Find a Qualified Art Appraiser
The qualifications of an art appraiser is crucial. Before you commit yourself to an appraisal, you need to make sure that your investment in professional services is worthy. Before you hire an appraier, you need to find out if the appraiser has Asian art expertise. An appraisal is useless if the appraiser misidentify an artist and art work or fails to deciper the name selas in the carving scripts. An appraisal is misleading if the appraiser rely heavily on the signature on a painting without verifying its authenticity or analyzing the signed artist's artistic merits in terms of brushstrokes, ink and shading techniques, medium, etc. Does your appraiser know Asian visual aesthetics and cultural traditions? Can your appraiser read classical Chinese scripts and research in Japanese, Korean or Chinese? Can your appraiser identify a fake? Can your appraiser rank a Chinese artist and his works among his equals prior to valuation? Doubtless to say, the value of a fine original painting is signifcantly higher than that of a fine reproduction "in the style of" or "after" a master artist. A forgery of a masterpiece by a less capable hand is worthless. If your appraiser lacks any of these skills, the reported value will be less trustworthy. Only a qualified art appraiser can prepare a truthful appraisal that attests professional scrutiny.
We are Asian art specialists with unmatched qualifications. We are academics with Ph.D. in Chinese art, M.A. in Asian Buddhist art, and professional training in prestigious universities in the United States. We read and speak a unique set of Asian languages, understand Asian cultural traditions and artistic aesthetics. We serve you with 30 years of experience in Asian art education, working with Asian art objects, doctoral training in Chinese art, history, and culture, and original published research. We possess specialized research skills and are good at what we do for living.
We are qualified professionals for IRS-related appraisals. Our appraisals comply with the IRS requirements for tax purposes. We observe the IRS rules and the code of ethics in our practice. We provide you with a well-researched, logically-stated and carefully reconcilated value conclusion to help you fulfill your tax obligations.
Need Asian art consulting & appraisal services, please Contact Us, or call us at (609) 688-6891.