Q: I need several art appraisals. Can I appraise the art myself or do I need
an art appraiser? Can I look at lists of selling prices for some of the
artists I need appraised. Are lists of art prices just as good as
appraisers? Thank you for your help.

A: If you need an art appraisal, hire a professional art appraiser who's
experienced in art appraisal techniques. If you're not qualified to appraise
art, don't try to appraise it yourself. While I'm on the subject, if you
need legal assistance, hire an attorney. If you need medical advice, see a
doctor. If you need something done that you don't know how to do, hire
someone who knows how to do it, and have them do it for you.

Books, CD-ROMs or databases that list art prices may present themselves as
art appraisal services, but THEY ARE NOTHING OF THE SORT. Don't believe it?
Then read their disclaimers-- especially the ones on art price database
websites. Here's a quote from one of those sites (the letters are
capitalized on the site to emphasize that THEY ARE NOT RESPONSIBLE for
either their data or any mistakes you make using it): +++.com neither
endorses, nor is responsible for the accuracy or reliability of any opinion,
advice or statement made on this site. UNDER NO CIRCUMSTANCES SHALL +++.COM
OR ITS AFFILIATES, OR ANY OF ITS SHAREHOLDERS, OFFICERS, DIRECTORS,
EMPLOYEES OR AGENTS, BE LIABLE FOR ANY LOSS OR DAMAGE CAUSED BY A USER'S
RELIANCE ON INFORMATION OBTAINED THROUGH THIS SITE OR ANY LOSS OR DAMAGE
CAUSED BY A USER BEING EXPOSED TO INFORMATION CONTAINED ON THE SITE.² That's
not what you want to see when appraising potentially valuable works of art.

At best, database resources give you casual random ideas of what your art
might be worth, and you can make big mistakes if you misinterpret their
data. You see, they give you prices for other art, not your art, and since
every work of art is unique, those prices often have little or nothing to do
with the art you want appraised. Lists of art prices are useful only if you
know how to interpret art sales data, and only when that data is interpreted
in combination with additional art price resources, art reference books,
retail selling prices, and a variety of other art research tools not readily
available to average individuals.

In addition, art prices books, CD-ROMs and databases cover almost
exclusively art that sells at auction. Much art that sells at auction is
inferior in various ways. It may be damaged, badly restored, second-rate,
atypical, or poor quality-- not good enough to sell at galleries-- so
sellers get rid of it at auctions. This problem art sells for less than good
or better quality pieces in good or better condition, but art prices you get
from a list don't tell you that. They don't include condition reports,
statements about how good or bad the art may have been, or other sale price
explanations. All you get is a bunch of dollar amounts taken out of
context-- and nothing more. If you compare your good quality art in good
condition to problem art in poor condition, you can value way too low.

Here are some more reasons why lists of art prices can give you grossly
innacurate ideas of what your art is worth:

*    Great art may sell at auction for bargain prices because the auctions
are poorly publicized, or only single bidders recognize the importance of
the art and buy it for far less than it's worth. If you compare your art to
art that sold for bargain prices, you can value way too low.
*    Sometimes, no significant art by a particular artist has ever sold at
auction. It is not unusual for top quality art by an artist to sell for tens
of thousands of dollars or more at galleries, but for that artist to have
high auction records only in the low or mid thousands of dollars. If no
significant art by your artist has ever been through auction, you can value
way too low.
*    Sometimes an artist has hundreds or thousands of auction records that
range, for example, between $1000 and $200,000. If you're not a qualified
professional appraiser, you'll have little or no idea where your art fits
into that kind of a continuum.
*    In order to accurately value a work of art, you have to know how
significant it is-- how great, good or not so good it is-- when compared to
all other art by the artist. If your art is really good, but you don't know
good it is, you can value way too low.
*    In order to accurately value a work of art, you have to know how
historically significant it is-- whether it transcends the artist who made
it-- because of when it was made, what it represents, where it was made, or
similar extenuating factors. If your art is historically significant, but
you don't know that, you can value way too low.
*    Sometimes art has value for reasons not related to the artist. For
example, a painting of a World War II air raid/dogfight may be worth far
more to a militaria collector than to an art dealer or collector. If you
don't know assess value across various collecting disciplines, you can value
way too low.

Get the point? I hope so. It's your money.

Bottom line: Art appraisers are neutral non-conflicted professionals who
value art for a living, and who work on your behalf. Use an appraiser when
you need art prices, or risk losing big money later.

Articles © Alan Bamberger, 2004. All rights reserved.