The purpose of an insurance valuation is to provide both the client and an insurance company with a document detailing all correct technical and descriptive information. On this basis both parties can reach agreement for insurance cover. These documents are the most common reason for an artwork valuation. Insurance valuation will be based on replacement value. This is defined as the price expected to be charged for replacement of an equivalent artwork from a reputable source, usually a commercial gallery. As a general guide, insurance valuations are provided for a fee of $100.00 per item. Prices will be negotiated for large collections and multiple works by a single artist.
Other reasons for Valuations and Appraisals include:
Disposal at Auction
The purpose of an appraisal for disposal at auction is to provide the client with an expectation of what price might be achieved based on previous auction results.
The purpose of an appraisal for private sale is to provide the client with an estimate of value where the artwork is to be offered for sale within a commercial retail market, or is otherwise traded between two parties.
Divorce or Estate Settlement
The purpose of an appraisal for divorce and estate settlements is to provide the parties with valuations which may reflect specific instructions from legal representation. This may include a range of valuations for the purpose of insurance, disposal or private sale.
Verbal appraisals for any of the above are generally charged at a rate of $50 per item, however this may vary according to the nature of the item or collection of items.
A charge for travel will be required if necessary.
For Cultural Gifts Program Valuations please refer to our dedicated page http://allartservices.com.au/cultural-gifts-program-valuations/