Why do I need an appraisal for my collectibles?

Many people enjoy collecting things that might become valuable and rare. According to Fortunly, one in three American collectors surveyed collect items as either a hobby or an investment. About 42% of those who say they are collectors also obtain NFTs. Whether collecting objects like artwork or classic cars, or digital items like NFTs, there are several reasons why you need the services of collectible appraisers. Here are a few to consider.

Ensure Collectibles Are Genuine

There are a lot of ways that people could lose money when collecting things of apparent value and buying a forged or counterfeit item is one of the most common. When qualified collectible appraisers assess an item, they determine if it’s genuine and are trained to look for signs of counterfeit items. The more valuable an item is, the more likely someone will try to make a copy to sell for quick cash. An appraiser can protect a customer against that and can authenticate valuable collectibles.

Establish an Insurance Value

A collectible item is rare and trades hands only infrequently, which can make it hard to know its actual value. A qualified appraiser can establish a market value based on any recent auction sales or other data that helps determine how much an item is worth currently. The appraised value helps set the amount of insurance protection for your collectibles in case any are damaged, destroyed, or stolen.

Stay Current with Market Changes

Even rare collectibles vary in value over time. They might be worth a particular sum one year, but their value might rise or fall steeply due to countless potential factors. When a collector’s interest lessens, so does the value, but it rises quickly when more collectors take an interest in an item and are willing to pay more to obtain it. The best collectible appraisers stay informed on market conditions for particular items to know their current value.

Obtain a Fair Selling Price

If you intend to sell one or more collectibles, a professional appraiser can help you set a fair price based on the current market value. When you know what a reasonable price range is for an item you are selling, you are more likely to get a fair price instead of charging too little and losing money on the transaction.

Are you ready to obtain an appraisal for your collectibles? Turn to our reliable team at AA Fine Art today. Contact us to schedule an appointment today!