Art & Antiques by Dr. Lori
Death, Divorce, Donation: When do I need an Appraisal?
I know from experience that Americans enjoy appraisals. People like
to tell and listen to the stories of family heirlooms, the art history
of an old painting, and the value behind an antique yard sale find.
I know this because I conduct more than 100 public appraisal programs
every year nationwide where I teach art history, share museum practices
and preservation techniques, and provide appraisals of objects. Along
with my in-home appraisal appointments where I conduct appraisals
for clients, I review about 20,000 objects every year for clients
who want to know the truth about what they have and what it’s
really worth.
Many people never realize that at certain times in their lives, they
need a confidential, unbiased, and formal appraisal. There are three
major occasions in life when you need an unbiased appraisal, that
is the type of appraisal you can only get from an expert who is not
interesting in buying (dealer or reseller) or selling (auction house
or consigner) your valuables.
Times of Change
The times when you need a personal property appraisal are times
of change. You need an appraisal when you have experienced a death
in your family prior to liquidating, donating, or distributing any
art work or antiques to family members. You need an appraisal if you
feel that you may soon experience or are in the midst of a divorce
in order to protect yourself. Although feuding couples will appraise
their real estate and cars, both men and women rarely realize that
they need a personal property appraisal of all the property purchased
during the marriage. Community property will become a point of interest
during a divorce. Also, you need an appraisal when you are downsizing
or making a charitable donation. The three Ds--death, divorce, donation--are
the most common times when you need an appraisal.
Many people obtain appraisals to update their insurance policies
in order to protect their personal property with all risks coverage.
Appraisals are a good idea to maintain proper insurance for art and
antiques which are NOT covered under regular homeowner’s policies
in your new home.
Many elderly parents tell me that they are interested in obtaining
an unbiased appraisal for family heirlooms that they are handing down
to their children. They tell me that they want to be fair. They don’t
want one child to end up with a very valuable piece just because the
parents didn’t know it was more valuable than the item that
was gifted to their other child.
Didn’t think you needed an appraisal? Think again.
As seen on Comcast CN8 TV, Dr. Lori is an antiques appraiser with
the Ph.D. in art history. For information, visit www.DrLoriV.com or
call (888) 431-1010.
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