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Inquire about getting an appraisal:
First, make sure that an appraisal report is needed in your situation. If you would like to sell, an appraisal document is not required in most cases.
Some common reasons for an appraisal are:
- To insure artwork that is over the single item limit ^1
- To prove value of a damaged item in the process of an insurance claim
- Donation of an item or collection of over $5,000 to a qualified organization in which you will take a tax refund
- Valuation of artworks in an Estate for tax purposes
- Equatable distribution of items in an estate or divorce
- Documentation of value for personal reason (appraisal will be restricted to the use of the client only)
- At the request of someone for other reasons not mentioned above
