Have you considered appraising your collectibles? These may be decorative jewelry, antique rugs and carpets, paintings and photographs, memorabilia, silver and gold decorative objects, furniture, sculptures, drawings and fine art, and luxury collectibles. Every item in your collection holds a priceless sentimental value. However, when you want to establish the monetary value of your collectibles, you should seek the services of a collectible appraiser. Here are the benefits of appraising your collectibles.
1. Helps You Document the Value of Each Item in Your Collection
Collectible appraisers have unique knowledge and expertise to value every item in your collection. When searching for a collectible appraiser near me, you should inquire if they are a certified fine art appraiser and a certified antique appraiser. This way, you will have complete confidence in their ability to value the items in your collection. After appraising your collection, collectible appraisers will document the value in an appraisal report. This report comes in handy in various official processes such as insurance and filing taxes.
2. Helps You Profile the History of Your Collection
You may have inherited some antique items from your parents or grandparents. Although you know that they meant the world to your parents, you may not have a solid history of their origin and their creators. You can spend a lot of time trying to uncover their history, or you can easily search for a collectible appraiser near me. When valuing your collection, personal property appraisers will conduct in-depth research about the origin history, artist’s and creator’s profiles, and the purpose of the items in your collection. Certified appraisers, being professionals in the fine art industry, will have an easier time profiling your collectibles. They should document all the information gathered. Now, you’ll have more facts and knowledge regarding your collection, besides knowing the market value. Knowing the history of your collectibles will add more intrinsic value to your collection.
3. For Insurance Purposes
It’s a good idea to have collectibles insured — especially if you have some of the original fine artwork from the world-famous artists. It’s estimated that 53% of art collections on the globe have more than 500 pieces of artwork. To protect your collection from buglers and art theft, you should insure them. Using the appraisal report from your collectible appraiser, the insurance company will be able to offer you a fair insurance policy. Today, when thieves break into your house, they’re more likely to make away with your collectibles such as artwork, jewelry, wine collection, and memorabilia.
Having known that some of these antique items can make them rich overnight, modern organized thieves prefer to steal fine artwork and other antique items in your collection. That’s why you need to seek the services of a ‘collectible appraiser near me,’ so that you can have a documented value of your collection for insurance purposes.
4. You May Wish to Sell Some of Your Valuables
When you decide to sell some items in your collection, you should know the value of the items in the market. You don’t want to take eggs for money when selling your valuable collectibles. A collectible appraiser will establish the real market value of your items and record the information in an appraisal report. That way, if an art buyer disputes the value, you will have accurate data to back up your valuation. Additionally, if you decide to donate some of your valuables to charity, you will have no problem when filing your taxes, because you have the market value of your collectibles well-documented in the appraisal report.
Before you engage a ‘collectible appraiser near me’ to value your collection, you should conduct some background checks. Make sure that the appraiser is certified by one of the three reputable appraiser organizations in the United States. The three include the International Society of Appraisers (ISA), The Appraisers Association of America (AAA), and the American Society of Appraisers (ASA). An appraisal report from a collectible appraiser recognized by one of the three organizations will hold water in the market.