Appraisals and Valuation Services
Appraisal or Evaluation? What’s the difference?
An appraisal is a thoroughly researched legal document, used for such purposes as insurance, estate, equitable distribution or other circumstances, where a precise opinion of value is determined. When you are just trying to get an idea of what things are worth, an evaluation report can be much less formal and provide a range of values depending on the circumstance.
How does it work?
It begins with a discussion to see what your needs are and what the job will entail. Then we can develop a plan tailored to the situation. We will determine what kind of value you are seeking and the kind of appraisal, if any, is appropriate.
Types of appraisals
We provide the following types of appraisals according to your individual needs:
- Insurance – would you like to insure your art/antiques?
- Damage and Loss – has an artwork of yours been damaged or destroyed and you need an appraisal to give to your insurance company?
- Estate – would you like to bequeath your artwork to your family?
- Donation – are you in need of an appraisal for a tax deduction for a work that you would like to donate to a charitable organization?
- Equitable Distribution – needing help dividing assets in an estate or divorce settlement?
- Restricted Appraisal – would you simply like to know what your artwork is worth and need advice on the marketing and sale of the item? Ithaca Vintage does not sell the assets that we appraise as it is a conflict of interest but, we are glad to assist you in finding the right venue to sell your art.
Fees – Fees are based on a standard hourly rate. There is a three-hour minimum for insurance appraisals and a four-hour minimum for tax-related appraisals. A detailed estimate and work agreement are provided in advance.
Authentication – Appraisers specialize in valuation not authentication. We will appraise your work of art and should the need arise that you require authentication we will guide you through that process and connect you with the pertinent expert for your work’s particular genre.Request Appraisal
Types of evaluations:
- General Valuation – From basic to complete research arriving at a range of values depending on your needs, for single items to entire estates.
- Visual Inventory – A thorough walkthrough of your home documenting each room and its contents in case of damage or disaster. It is much easier to report your missing or damaged assets to an insurance company if you have a visual inventory.
- Collection Management – Personal property appraisers are generally called on during a crisis following one or more of the “Four D’s” (death, disaster, debt and divorce). All of these occurrences are stressful and make it difficult to focus on organization. It is a good idea to arrange for your collection to be cataloged prior to such an event.