The Appraisal Process
If you find yourself asking “how do I get my art appraised?” then keep reading to learn how the antique and fine art appraisal process works.
Work with Lindsey Owen
How it works.
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1. Conversation
Most appraisals start with a phone call, e-mail, or text message. During these initial exchanges, the first thing we need to know is why you need an appraisal. Is it to obtain insurance coverage? For charitable donation? Are you just curious about the market?
Other questions we will ask will include what type and how many pieces do you need to be appraised. Is it only 1 or 2 pieces, or an entire estate? Where are the pieces located? Is there a deadline by which you need the report?
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2. Engagement Agreement
Once we have all the information needed to fully understand the scope of work, we will provide an engagement agreement that will outline the intended use of the appraisal, the methodology to be used, the estimated timeline, deliverables, and associated costs.
We will also request any additional information we would like to see such as provenance or sales receipts.
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3. The Inspection
Depending on the intended use of the appraisal and the scope of the project, the inspection of the property may be completed in person or virtually.
During the inspection process, we will inventory and document each piece to be appraised, noting condition, dimensions, materials, and inscriptions.
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4. Research
Once the inventory and documentation stage of the appraisal is complete, we begin our market research. Some pieces are ubiquitous and we are able to identify comparables quickly. While other pieces may require additional steps such as authentication, and consulting specialists. We will be in constant communication with you about the timeline of your report and notify you of any additional time required during the research process.
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5. Report Preparation
Once research is complete, we prepare a USPAP-compliant report following ISA Report Writing Standards and Chicago Manual of Style formatting. Federal tax reports meet all IRS requirements, insurance reports adhere to industry standards, and personal-use reports are tailored to client priorities, whether that includes provenance, artist biography, or market analysis.
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6. Transmitting the Report
Unless otherwise specified, reports will be sent via e-mail as a pdf. Once you have had the opportunity to review the report, please feel welcome to reach out with any questions you might have. Our goal is to make sure you understand the report and that you feel confident in the valuations.
Each report will be kept in our internal records for five years (or an additional two years following litigation).
Frequently Asked Questions
Don’t see the answer to your question? Send us an email at info@loappraisals.com.
Can you appraise art online from photographs?
Whether or not an appraisal can be conducted from photographs depends on the intended use of the appraisal and the piece being appraised. Inspections for appraisals that will be used for personal planning can generally be conducted virtually, although an in-person inspection is considered the best practice for appraisals that will be used for legal, insurance, and tax functions. Some insurance carriers may allow for an inspection to be conducted from photographs, however it is recommended that you confirm this with your carrier prior to engaging Lindsey Owen Appraisals.
What types of pieces do you appraise?
Lindsey Owen is a generalist who specializes in appraising fine art. We regularly appraise paintings, drawings, prints, photographs, sculptures, ceramics, furniture, decorative objects, and silver. If you need an appraisal for a type of personal property not listed, please feel welcome to reach out as we have a large network of qualified appraisers to whom we can refer you.
How much does an appraisal cost?
The total cost of your appraisal project depends on several factors, such as the intended use of the appraisal and the volume of pieces to be appraised. Once the project's scope has been determined, we will provide an engagement agreement outlining the methodology, timelines, and associated costs. Here is more information about how appraisal pricing works.
Is it worth getting art appraised?
This depends less on the type of piece and more on the intended use of the appraisal. For legal, insurance, financial, and ax purposes, adherence to USPAP-compliant appraisals is essential. Engaging a certified art appraiser is crucial to ensure compliance. Failure to do so may result in adverse consequences such as unfavorable legal outcomes, inadequate insurance coverage, or triggering an audit when dealing with an appraiser lacking competency.
However, if you do not need an appraisal for a legal, insurance, financial, or tax function, having an appraiser determine the value every piece in your grandma’s attic is like having a CPA balance your checkbook. You can have it done, but in some situations, it may be overkill. If you are simply curious about value and do not require a formal appraisal, reviewing past sales online or requesting an auction estimate from an auction house may be sufficient. Lindsey Owen Appraisals does not provide complimentary valuations.
Where are you located?
Lindsey Owen Appraisals is headquartered in Chicago, IL and works with clients nationwide. Please note that we operate by appointment only and do not maintain a publicly accessible office.
Are your appraisals certified?
If you are seeking art appraisers for insurance, tax, charitable donation, or equitable distribution, you will likely require an appraisal with a USPAP certification statement. All our appraisal reports will have a signed USPAP Certification Statement.
Our art appraisers prepare reports following the principles and procedures of the International Society of Appraisers Appraisal Report Writing Standards, which meet the industry standards required for insurance, the Internal Revenue Service (IRS), and litigators.
Do you purchase artwork?
Lindsey Owen Appraisals provides independent, impartial appraisal services and does not buy or sell artwork. However, through our advisory services, we assist clients with sales strategy, market analysis, and connecting with auction houses, galleries, or private buyers to ensure a seamless divestiture process. If you are interested in professional guidance, please fill out our form to receive a quote for advisory services.
What does an art appraiser do?
Art appraisers determine the value of artwork. They are highly trained professionals who deeply understand the art market and its intricacies. Their expertise allows them to evaluate and assess the worth of various art forms, including paintings, sculptures, and even digital art. Estate lawyers, tax specialists, accountants, museums, nonprofits, insurance brokers, and carriers heavily rely on certified art appraisers for impartial and expert valuations. This reliance becomes evident in critical scenarios such as estate planning, equitable distribution, estate taxation, divorce settlements, insurance coverage, claims processing, and charitable donations.
How can I find a fine art appraiser near me?
Please feel welcome to reach out if you need help finding an art appraiser near you. While it can be tempting to simply Google “artwork appraisers near me” or even more simply “appraiser art” there is no guarantee that you will find art appraisers with the competence and professionalism to complete your assignment. For a referral of an art appraiser in your area, please email info@loappraisals.com with the subject line “Art Appraiser Near Me.”
How do I get my art appraised in Chicago?
Lindsey Owen Appraisals is headquartered in Chicago, IL and our team of art appraisers works nationwide to appraise all sizes of collections. Fill out the art appraisal inquiry form here, or call us at (312) 783-8749.
How can I get my artwork valued?
Lindsey Owen Appraisals is headquartered in Chicago, IL and our team of art appraisers works nationwide to appraise all sizes of collections. Fill out the art appraisal inquiry form here, or call us at (312) 783-8749.