Commission Appraisal
How Can I Have My Art Work Appraised? Where Should I Start?
This is how a formal appraisal works: Start with Preveiw My Artwork. If it merits an appraisal, we will make proposal based on your appraisal needs. When you are ready to procced, with your approval and payment of a retainer (appraisal fee), we then make an inspection appointment, discuss your needs, and conduct stylistic and market research. We also need to examine original documentation ( original receipts, provenance evidence, publication, etc), request more information. Once we receive the requested information from you and inspect the item, we are able to complete most appraisals within two to three weeks. The final appraisal report will be sent to you via USPS after the appraisal fee is paid in full.
How Do I Know Which Art Appraisal Reporting Option to Choose?
Please read our Appraisal Services for more information. You need the right appraisal to achieve your goals. For example, a Restricted appraisal (Level 1) might meet the basic personal needs for a general consultation. A Summary Appraisal (Level II) is suffiicient for insurance coverage or claims but not accepted by IRS for tax deduction. A Summary Appraisal helps you make an informed decision and provides a reasonable amount of information, but not in great detail, in a form that can be shared with a third party.
A Research Appraisal Report is ideal for serious art collectors and dealers. This level of appraisal report equips you with the information you need to appreciate and present your art work with the knowlege and confidence of an expert. Most assignments in this category concern high-quality art not well attested in the usual sources: it might lack a track record in auction or sales, it might be difficult to document in the historical record, or the artist or workshop that created it might be hard to assess. It offers the best of both worlds: our Asian art experts conduct extensive research on the artist or workshop and analyzes your art work in its historical and artistic contexts, while our knowledge of the market is used to propose a value conclusion that makes sense in the real world. The fee for a customised research appraisal varies, depending on the nature of the assignment, the scope of research, and the time needed to complete the assignment.
What Do You Mean by “Customized Appraisal?
A customized appraisal package is designed to meet your individual needs. Apart from complying with Uniform Standards for Professional Appraisal Practice (USPAP), we are happy to include additional information you requet and answers to your questions in the report. Sometimes we recommend a Customized Appraisal for art works of high value, for art owners who are unable to conduct further research on their property, or those intend to build up a valuable collection with an insider's knowledge and expertise. Before committing yourself to an appraisal option, We encourage you to discuss your needs with us; we promise to suggest a package that is suitable for your property and meets your needs. We never pressure you to order more services in any manner. We are dedicated to educating our clients, walking them step-by-step through the appraisal process, and finding the best solution to meet your appraisal needs.
Can You Conduct an On-site Inspection of My Art Object?
We recommend that you arrange an on-site inspection of your property before you commission an appraisal. This approach will brings you two benefits. First, you receive an accurate value estimate from a professional rather than an extraordinary assumption of value via photos. Second, you don't need to proceed with the appraisal if your art property is of limited value. This method involves some extra charges beyond the fee for the art appraisal report, but it is worth it. If you are interested, please explain your concerns, and we are happy to make a detailed proposal explaining the procedure, the timing, and the fees.
Why Do I Need to Answer Your Appraisal Questions?
It is important to respond to the questions we ask truthfully because it is relevant to the value of your property. Your answers to our questions often provide details concerning the provenance (the history of ownership) of your art object, including how the object entered your possession, publication, as well as its recent history since then. All of these details are important to help our art specialists, since the provenance of the art work and its current condition need to be documented carefully in the appraisal report. These factors have a strong influence on the final value conclusion.
How Do You Conduct Your Art Appraisal?
Normally after a brief exchange of correspondence about the art object, the owner answers the questions, and sends us high-quality photographs (usually digital photos sent by e-mail attachment, but prints are also acceptable) according to our specifications for a preview. As a first step, we depend on copious photographic documentation of the object, either provided by the client according to our specifications, or taken by our art specialist while inspecting the piece in person. Secondly, we conduct research on the history of the particular kind of object, utilizing the best scholarship in Chinese, Japanese, and European languages, in order to understand the genre of the piece, its content, style, and likely provenance. Third, we conduct a thorough review of the current market for this kind of art work, utilizing a variety of sources, the most important and sizeable of which are records of recent sales and current offerings in the auction houses and galleries worldwide. In suggesting a date and proposing a value, we always provide a few comparable pieces and discussion of their similarities and differences from the piece under consideration.Then we study the current art market and prepare the final written appraisal.
A formal art appraisal report conducted by WEI YANG ART, LLC explains to you what you own, estimate the likely performance of your art in the current art market, help you to appreciate your art, and answer other specific questions you may have. We tailor the report to your specific appraisal needs, whether you concern insurance coverage or claims, consultation for disposition, museum donation, or estate distribution, etc.
Can You Appraise My Art Work by Photos?
It is permissible with limitations. However, we don't recommend it. For some types of art, this method is acceptable. However, you need to be aware of the specific responsibilities associated with this request. For example, you need to hire a professional photographer and provide us with a set of high-quality digital photos of the object for a photo inspection.You need to work closely with your appraiser to insure the photographs conform to his/her specifications. You need to follow your appraiser's instructions and conduct a series of hand-on experiments on her behalf. You need to respond to the appraiser's questions to the best of your ability. If you think you can handle these details, let's talk about this option. We treat each art object, whether we inspect it in person or through photographs, with equal respect and attention.
What Kind of Photos Do You Need for Appraisal Research?
Please provide a set of high quality digital photos of your property for Appraisal before taking any actions. The photo set must include a full view of the property and a few close ups of details (mark on the base of a porcelain or decorative arts, signature, inscription and seals on a painting, and any physical distinctions you wish to share with your appraiser). In general, the photos should be in as high a resolution as possible. If you are sending many large files, burning them on a CD and potable USB memory stick is convinient and safe. Sending photos via e-mail attachment is good for a few photos in modest sizes, since the email system may not be friendly encough to let it got to my mailbox, which would further complicate our communication about the appraisal assignment.
How Long Does It Take for You to Complete an Appraisal Report?
The completion of an appraisal varies, depending on the scope of work necessary to complete the assignment. It usually takes us two to three weeks to complete one appraisal, depending on the complexity of the assignment. After you send us a retainer, relevant information, the requested photos of your art object, and with the completion of the inspection, our art specialist will begin research, conduct value calculation, and draft the appraisal. At that point we will request final payment. Once the appraisal fee is paid in full, we will send you a hard copy of the appraisal report via USPS priority mail or a faster delivery method at your cost.
Continue to Read Frequently Asked Questions (Part II)
Appraisal Questions & Answers
Value and Authenticity
Art Appraisal
Post-Appraisal Services
Appraisal Fees
