TERMS AND PROCEDURES FOR PAINTING APPRAISALS

PLEASE NOTE THAT WE CANNOT PROVIDE FREE APPRAISALS BY PHONE OR EMAIL.

Le Balcon d’art specializes in the appraisal of paintings of Quebec and Canadian origin.

If you are unsure of the geographical origin of your works, we still suggest you send us photos. We can advise you on the options available to you.

We offer two types of appraisals:

ESTIMATED MARKET VALUE

This is a basic appraisal for estate or resale purposes.

The document contains the basic details of the paintings and provides the minimum and maximum ESTIMATED MARKET VALUE. This document is not intended for insurance purposes as it does not represent the retail replacement value of the works.

The minimum ESTIMATED MARKET VALUE is based on general demand for the artists’ works and represents the value of works sold without an intermediary. Please note that art galleries and auction houses charge a commission on sales, which can vary significantly. Le Balcon d’art makes no guarantees regarding the estimated value, which may change without notice depending on market conditions.

The appraisal fees for this option are as follows:

• 1 TO 5 PAINTINGS: 150.00
• 6 TO 10 PAINTINGS: 250.00
• 11 TO 15 PAINTINGS: 350.00
• 16 TO 20 PAINTINGS: 450.00
• ETC.

(Example of Estimated Market Value- click  to enlarge)

RETAIL VALUE FOR INSURANCE PURPOSES

This is a formal appraisal for insurance purposes.

The document contains a photo of each painting, details of each painting, appropriate notes, details about the artists, and any other relevant information.

In addition, we can also include the APPRAISED MARKET VALUE of the paintings at no additional cost upon client request.

The values ​​presented with this option are established following research and analysis of galleries, price lists, and recognized archives. These values ​​take into account current fluctuations in the art market. They represent the appraiser’s opinion to the best of their knowledge, taking into account the aforementioned factors.

The appraisal fees for this option are as follows:

• $250.00 for the file opening fee and for the appraisal of an initial painting.
• 50.00 per subsequent painting
• 20.00 per work applies if you choose to bring the paintings to the gallery.

(Example of Retail Value for Insurance – click  to enlarge)

In both options, you must provide us with good photos – including a close-up of the signature and a photo of the back of the painting – as well as all relevant details such as the title and year (if available).

You can also provide us with certificates of authenticity, if available.

We also require the dimensions of the painting(s). FRAMING NOT INCLUDED.

Please note that the appraisal documents will be provided to you once your invoice has been finalized.

We will require your coordinates (name, address, phone, email) for the document and as approbation of the fees.

PLEASE SEND THE DOCUMENTS TO: evaluations@balcondart.com

 

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Your art collection is dear to you because of the emotions it evokes in you. On the other hand, it is also valuable because of its intrinsic value and the inevitable appreciation of its content. With the passage of time, it is difficult to judge its market value without the assistance of professionals familiar with market trends. It is for this purpose that le Balcon d’art, like any reputable art gallery, offers you a periodic appraisal of your paintings, sculptures, reproductions and other precious objets d’art.

A good appraisal must proceed in the respect of the customer but also in the knowledge of the reasons which motivates this evaluation.

An appraisal focuses on the retail value of the work. This is the barometer that will allow you to judge the evolution of the value of the work.  It is also the value that will allow your insurer to compensate you in the event of theft or disaster.

For example, the replacement value for insurance purposes is not necessarily the same as the value of an estate or the value established for the purpose of selling the collection.

With respect to insurers’ claims, it is quite simple to establish the value of the works. A simple search of gallerists representing the artists concerned will establish the replacement value of works. That said, in the case of deceased artists, replacement is difficult, if not impossible, and some familiarity with the secondary market and the auction world may be essential in order to establish price equivalence to comparable works.

It is a good idea to have your work appraised and updated on an ad hoc basis – say every five years – to ensure their value and to obtain appropriate coverage from your insurer. It is also prudent and wise to send a copy of this assessment to them so as to avoid any misunderstanding in the event of a disaster or theft.

One last note about insurance: some companies specialize in art works.  It might be a good idea to verify with your broker for the best coverage.

In the case of an assessment for the purpose of succession, it is obviously possible to leave this task to the potential heirs of your collection but, just as the making of a will in due form, would it not be wise to carry out the exercise yourself if it was only to spare your heirs the difficult task of dividing your collection upon your death?

In this case, an appraisal of resale value is appropriate and can easily be done by any good professional of the art market.

The same update frequency of the appraisal, i.e. every five years, will be appropriate in the case of a large collection.

A copy of this assessment should be included with the rest of the estate documents with your notary or lawyer so as to simplify the work of all.

Finally, if the reason for an appraisal of your collection is motivated by a desire to divest yourself of your collection, in whole or in part, it would be prudent to obtain an assessment from a third party rather than just the gallery or auctioneer chosen for the sale of your treasures.

This appraisal should be done as close as possible to the planned sale date to reflect the true value of the works at the time of the sale.

Keep in mind, however, that the established value of the works must be tempered by the market, the type of auctioneer, the chosen gallery and the time you are willing to give for the sale of your artwork. A quick sale can often mean a lower price. You must also consider the commission of the gallery or the auctioneer.

All these considerations may seem somewhat confusing. That’s why it’s always wise to consult established professionals you trust.

Come and meet the experts at le Balcon d’art for more details on our appraisal services and get the most out of the treasures that hang on your walls!