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Charles Art Valuation - Frequently Asked QuestionsCharles Art Valuation - Frequently Asked Questions

Frequently Asked Questions

What is Art Valuation?

Art Valuation is a process of estimating the potential market value of works of art. Art Valuation involves comparing sale transaction data from multiple sources such as art auction houses, private and corporate collectors, curators, art dealer activities, galleries, to arrive at a value. 

 

What is Art Appraisal?

Art Appraisal is the act or process of developing an opinion of art value.

 

What is Market Value?

Market value is defined as the most probable price that a buyer will have to pay, and that the seller is most likely to receive, for an item of artwork within the defined marketplace at a particular point in time.

 

Are there other valuation types other than Market Value?

Yes, there are a few more types of valuations such as Fair Market Value, Salvage Value, Net Value, Liquidation Value, Replacement Value, and Cash Value.

 

What type of valuation do you use in an art appraisal? 

The different valuation approaches can result in different value. As an appraiser, I often ask customer the intended use of an appraisal before proposing a valuation approach.

 

What is the most frequently used valuation approach in your experience?

I am often exposed to 'Comparable Sales Approach', which is to compare the one in appraisal with the similar artworks by the same artist in the latest sales transaction. 

 

How do you compare transacted artworks to an artwork in appraisal?

I often compare the artwork in appraisal to the most similar one sold in the market. To do that, I often compare value characteristics that impact the market value, such as size, medium, subject matter, condition or completeness, age, authenticity, quality, rarity, location, provenance, and title transfer.

 

What does a client expect to receive in your art appraisal ?

Different intended use results in different contents in an appraisal. A typical appraisal includes a logical presentation of all relevant facts such as the objective, the intended use, markets considered, the valuation approach used, limiting conditions, the research, an accurate description of the subject property, relevant comparasion, and the final value conclusion. 

 

Does your art appraisal authenticate the appraised artwork?

No, the appraisal is a valuation report, issued on the basis that the submitted artwork is authentic, in good condition and of flawless provenance. The appraisal report does not guarantee the authenticity of the appraised artwork.

 

What is the cost of valuation?

The cost of valuation is between USD50 to USD500 per piece, depending on time and effort in research and valuation. We can only confirm the valuation cost upon receiving the submission.  If you have good documentation of your artworks, we can offer you very competitive rates. Even if your documentation isn't perfect, we still offer good rates.

 

How to submit your artwork (s)?

Please email us the artwork details (i.e. Image, Artist Name, Title, Medium, Size, Year), a copy of Purchase Receipt, the intended use of valuation, and your contact details.

 

Why use Charles Art / Valuation?

We specialise in valuing Contemporary Art of China and Southeast Asia. We provide you impartial & professional services tailored to your specific needs. If you have good documentation of your arts in appraisal, we can offer you very competitive rates. Even if your documentation isn't perfect, we still offer good rates.

 

Is your art valuation recognised by Insurance Company?

Yes, we also provide Art Insurance consultancy services, free of charge, to customers who use our valuation services. You pay insurance premium directly to insurance company. You will receive insurance policy document and invoice directly issued under your name from that Insurance Company. For more information, please visit www.artinsurance.com.sg and/or contact us.

   

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