Whether you have an existing collection of art and antiques or you are just looking to value a family heirloom, the question arises – how to value antiques.
There are many reasons for needing a valuation; however it is commonly for insurance purposes. Valuations for insurance need to be at the appropriate level for retail replacement.
Charges for valuations are usually either based on a daily rate plus travel expenses or a percentage of value.
There are a number of options available in the market; the one that best suits your needs will be dependent upon the size and value of your item/collection, your location, previous valuation history and ease of transportation.
Here are a few of the options to consider – how to value antiques:
How to value Antiques – Auctioneers & Auction Houses
Many auctioneers will offer in house valuations at their auction house location, however a number of the leading Auctioneers offer valuation days around theUnited Kingdom. At these valuation days they can provide an estimated cost from photographs and descriptions; however a more accurate valuation requires first hand viewing. Verbal auction valuations are provided free of charge, however written valuations for insurance purposes would be charged.
www.bonhams.com offer valuation days around the UK.
How to value Antiques – Art & Antique Dealers
Many local and regional antique dealers will offer help on how to value antiques, the problem being how to source a dealer with a reputation and knowledge of your specific item or collection.
There are two trade associations to consider, they provide a search database of members which will help you identify the right valuer for your antiques.
The British Antique Dealers Association – www.bada.org
The Association of Art & Antique Dealers – www.lapada.org
How to Value Antiques – Via a High Net Worth Home Insurance Policy
A number of high value home insurance products include a free 2 hour walk through valuation guide via a leading specialist valuation company. At no cost to you they will make an appointment to undertake a valuation of not only your art and antiques but also you general contents to establish that your values possessions are adequately insured.
If items are identified that require a valuation, the valuation form will provide discounted rates via your high value home insurer.
I would consider these to be the most common options on how to value antiques; however this is by no means your only options, but hopefully provides a good starting point for you on how to value antiques.
If you would like to find out more about our high value home insurance product, call us on 01489 579808 or contact us via our webform and we will call you back.
If our How to Value Antiques article struck a chord, check out our post on valuation of jewellery.