Appraisals

 

ABOUT APPRAISALS

1. START HERE

I always recommend that you start by doing some research yourself. Have you searched the internet for comparable artwork by the same artist? A lot of information is out there, and you can gain a lot of understanding any knowledge yourself.

www.LiveAuctioneers.com is an excellent (and free) website resource because they track sales of artwork from all major Auction houses. You can search their site by artist, past auction sales (the best resource) and you can see items that are coming up at future auctions. Auction sales are one of the best tools to determine current values. There are other websites that provide similar services (www.AskArt.com, MutualArt.com, Invaluable.com, etc) but they are not free and require subscriptions.

You may also find other galleries that have sold or are selling work by the artist.

Artwork appraisals are similar to any other appraisal. For example: The same way a value of a home is determined by finding local "comps" or comparables. Look for a similar sized home in the same neighborhood, built about the same time, with the same style, same condition = about the same selling price.

Value of artwork can be determined the same way. Look for a COMPARABLE sale. Same artist, same media, same period, same style, same size, and you should have a piece of art about the same price. But understand that a Picasso does not equal a Picasso does not equal a Picasso. CONDITION, CONDITION, CONDITION, quality, subject, period, etc are variables. (see About price below).

2.  QUALIFIED APPRAISER.  

"Appraisers should have earned an appraisal designation from a recognized professional appraiser organization OR meet appropriate education and experience requirements."

Gallery Owner Ric Hartman has a Bachelors of Fine Art (B.F.A.) degree from Pacific Lutheran University (Tacoma, WA), and a Masters of Fine Art (M.F.A.) degree from the University of Wisconsin (Madison). I have been an art buyer, collector, consultant and curator for 40 years. I have owned and operated the Gallery of Wisconsin Art for almost 15 years. 

I appraise artwork for insurance, estate, and tax purposes, and meet Appraiser criteria. I am frequently an art appraiser at local art and antique appraisal fairs, including the PBS Appraisal Fair. If you have eligibility questions, ask for my resume and check with your accountant or legal consultants. I have never been denied.

3. WHY DO YOU NEED AN APPRAISAL?

From my experience, most people just want to know how much they can get for something if they sold it. I do not call this an appraisal, rather just a valuation or verbal estimate will do.

On the other hand, if you need an official document to settle an estate, make a donation, for your accountant, attorney, or for Tax purposes, you probably need a Formal Written Appraisal.

4. Valuations/Estimates

If you can't find the info you want after doing your research, send me quality photos, and description that includes everything listed in #6 below, I MAY be able to provide you an informal verbal estimate of selling price.

Generally, the Gallery does NOT provide free "Appraisals".

5. Formal Appraisals 

Formal appraisals require first-hand inspection and research, and include written documents for donations, taxes, accounting or legal settlements. They cost $100-$200+ (each) depending upon your requirements. If you have a large collection, or entire estate, special rates apply. Would a real estate agent tell you what your home is worth without personally seeing and inspecting it? Nope, and I hope thats not what you want.

If you have a large collection of Wisconsin artwork, have questions concerning submission requirements and would like to have a meeting to discuss, call 414-630-3600.   If you would like to consign or sell just a few pieces of artwork, email the following information #5 below to: info@galleryofwisconsinart.com. 

5. INQUIRING ABOUT PRICE OR SELLING ARTWORK

Information we require:

‚Äč1. Artist Name 

2. Title of artwork, and description of subject

3. Date or approximate date created (if known)

4. Dimensions of art as viewed, and frame exterior dimensions

5. Medium

6. Condition - specifically describe overall condition and flaws

7. Provenance? How did you come to own it?

8. CLEAR, Focused Photographs

  • Image of front and back and frame
  • Image of Artists signature, exhibition labels, dates, writing on back, etc.
  • Images of any flaws, condition issues
  • Images should be high resolution JPEG
  • Ideally Name image files with artist’s last name and title of work

9. IF desiring to sell, whats your asking price, or what you think its worth? We believe sellers should set the price. If we believe your price is too low, we will tell you. If your price is too high, we may make you an offer. See Below.

Email information to: info@GalleryofWisconsinArt.com 

7. ABOUT PRICE

MANY things should be considered when selling artwork or understanding price.

1. NUMEROUS benchmarks are used to value artwork, including size, condition, age, subject, historic importance, rarity, desirablity, frame, resale potential, and the economy are a few. CONDITION, QUALITY, and subject are absolutely critical in determining value of artwork.

2. Every artist created good and bad work - so a "name" is only the beginning

3. Some Wisconsin artists are collectible and can bring good prices, but unfortunately, most do not. Don't expect to get rich.

4. Understand that the Gallery of Wisconsin Art is a retail business and must make money to stay in operation! Like retail businesses, we generally buy at wholesale prices and sell at retail value. 

* We do not, and can not purchase artwork at the prices you see on our website.

5. Whats the Value of your artwork? Only what someone else is willing to pay for it!

We are happy to discuss the value of your art, and we ALWAYS make reasonable, and fair offers.