Fine Art Appraisals & Valuation Services
We specialize in appraising fine art, art glass, sculptures, pottery, and collectables.
Located in West Bloomfield, Michigan | Serving Oakland County Michigan and the Greater Detroit area
Our appraisers, with over 30 years experience and extensive qualifications, conduct all Art Leaders Gallery fine art appraisal and evaluation services. They offer the deepest knowledge and follow a rigorous program of professional involvement. Furthermore, they stay attuned to changes in the art market and sales at regional and international auctions and galleries. These comprehensive reports meet every insurance company requirement. In providing sound reports, our appraisers work with a network of internationally recognized platforms, thus ensuring the highest level of accuracy while minimizing intrusion to maintain privacy and security for our clientele.
- Fine Art Appraisals – A complete descriptive report including images, and information with cited documentation from expert evaluations, database research, and historical data. Appraisals are independent, objective reports based on knowledge, research, market analysis, and accepted principle of valuation. This is a formal document for insurance and legal purposes.
- Fine Art Valuation – A descriptive estimation of market value based on similar works, condition, size, frame, and overall quality of artwork. Valuations are typically used when attempting to sell artworks or when no formal documentation or historical data are available.
Contact gallery for more information on having your artwork appraised or valuated.
Art Leaders Gallery charges $200.00 per piece for a formal appraisal. The appraisal cost includes a full hard-copy and digital file of the completed report. Consultations are typically conducted within the gallery or through email. If a client prefers to have the appraiser come to the artwork site, an additional travel charge may be assessed. Please note, many insurance companies require an updated appraisal every five years, which can become quite costly for collectors. Art Leaders Gallery can update your appraisal for a lower cost to returning clients.
Fair Market Value (FMV)
Fair market value is the price artwork would sell for on the open market between parties with knowledge of the relevant facts. If there is a restriction on donated art, the FMV will reflect this restriction. FMV is the appraisal value that usually applies to charitable donations and estate values.
Replacement Value (RV)
Replacement value is the cost of replacing the item based on damage, theft, etc. RV is determined by comparing the work to another piece with similar qualities purchased in the most appropriate marketplace in a limited amount of time. This is the highest of the appraised values and is applied primarily to insurance coverage.
Market Value (MV)
Market value is the value realized with net expenses, by a willing seller of property in a competitive and open market to a willing buyer. In market value there is no constraint to buy or sell and both parties are knowledgeable.
Liquidation Value (LV)
Liquidation value is the value realized in a sale situation under forced-on, limiting conditions and some time constraints.
Condition of Artwork
The condition of the artwork plays an important roll in the value of your work. If the artwork was not framed with museum quality products, this will affect the condition of the piece. Foxing and fading will occur if the artwork is not framed properly.
Conservation framing is an important form of insurance for maintaining artwork. If the work you are framing is an original, irreplaceable, limited edition, or an original work of art, it should be framed using conservation materials and techniques. The cost for conservation framing is marginal and certainly well worth it! Art Leaders Gallery has a custom framing department with certified framing designers to perfect your preservation.