Frequently Asked Questions

We specialize in fine art (paintings, prints, sculpture, etc.) 

It depends on the size and complexity of the assignment. Generally, an appraisal can take anywhere from a few hours to a few days.

All appraisals are billed at $175/hour. The size and complexity of the appraisal determines the number of hours billed. An estimate can be provided beforehand.

The minimum charge for any appraisal is $250. 

Here are a few definitions of some common appraisal terms - 

Intended Use - It is the reason an appraisal is being conducted. It is what the

client will do with the report.

Approach to value - is an acceptable method for measuring value or cost of property. There

are three approaches: sales comparison, cost, and income.

Sales comparison approach - analyzes comparable sales data as are available to indicate a

value conclusion within the market considered most common for the property.

Cost approach - analyzes comparable cost data as are available to replace the property being

appraised with a suitable substitute.

Income approach - analyzes comparable data as are available and/or applies a present value

formula to calculate the present worth of income anticipated to be generated in the future

through sale or lease.

Value - is the monetary relationship between properties and those who buy, sell, or use those

properties, expressed as an opinion of worth of a property at a given time.

Fair market value (FMV) - is a value defined by a legal or regulatory jurisdiction and varies

with individual jurisdictions. For federal uses in the U.S. such as estate and gift tax or

charitable contributions, fair market value is the most probable price at which property would change hands between a willing buyer and a willing seller, neither being under any

compulsion to buy or to sell, both having reasonable knowledge of all relevant facts, and

with the sale being made to the public in the most relevant market taking into consideration

the location of the property.

Replacement value - is the amount it would cost to replace an item with one similar and like

quality purchased within a reasonable amount of time in the marketplace where the client

shops. Replacement value includes not only the replacement costs of acquiring or replicating

the property, but also all the relevant costs associated with replacement. These other costs

may include all applicable taxes and duties, framing, crating, transportation, etc.

Yes!  In cases of damage claims, we can offer a retrospective appraisal assigning values to your items prior to damage.

All insurance companies differ in requirements.