Value and Authenticity
Merit of Art Appraisal
Post-Appraisal Services
Appraisal Fees
Post-Appraisal Services
Can I Ask An Appraiser to Be My Agent?
No! An art appraiser is NOT a sales agent. A professional appraiser is required to follow the code of ethics in practice. It is considered unethical and unprofessional if an appraiser shows interest in the property that is the subject of his/her appraisal. Hiring an independent appraiser for you art work is essential, since professional integrity is rare in the real world.
Dr. Wei Yang does not buy or sell art works. She limits our professional activities to Asian art consulting & appraisal to defend her professional integrity. Her job is to provide an independent, competent& objective art appraisal that meets your needs.
Can You Represent Me after I Commission an Art Appraisal from You?
No, Dr. Yang does not serve as a sales agent. She does not buy or sell art works. Dr. Yang only provides independent, competent & objective Asian art consultation and appraisal services.
Can You Guarantee that My Art Object Will Sell for the Price Proposed in the Appraisal?
NO, Dr. Yang can not guarantee a specific sales price. The value conclusion provided in her appraisal report is an educated guess, based on her knowledge, experience, market research, and careful reconliation of the sales data of comparables from its most appropriate market place. Depending on the market conditions, the marketing strategy of your sales agent and the quality of his clientele, receiving a higher or lower offer is part of the selling procedure.
Are There Any Hidden Fees in Selling My Art?
Almost all forms of sale entail costs over and above the sales price--sometimes up to 50% of the gross sale price! Auction houses typically charge fees for commissions, advertising, cataloging, insurance, taxes, unsold fees, seller's premium, etc., some are deducted from the hammer price. Auction houses vary considerably in the amount and structure of their fees, so be sure to ask for a full explanation. The fees charged by auction houses often make it unprofitable for an average owner to sell his or her objects at auction. Selling directly to a buyer (whether a collector or museum) also involves additional costs (insurance, shipping and commissions) typically borne by the seller.
For many sales you will need to depend on the resources and services of a sales agent or dealer. The agent serves as your representative in the sale. It is his/her job to represent your interests in contacting prospective buyers, negotiating with buyers or auction houses, arranging for shipment, payment of registration fees, and so forth. All agents collect commissions from the seller or both the seller and buyer, typically in the form of a percentage of the sale price. It is essential that you chose a honest and experienced sales agent, be able to trust him/her completely. You should always investigate a prospective agent's qualifications, experience and merits before you sign a sales contract.
Do I Need an Art Appraisal to Sell My Art?
No, you don't need an appraisal to sell your art work. However, if your artwork is of high quality and by a famous hand, obtaining an appraisal of your art object from a qualified art appraiser will give you an upper hand in the price negotiation. Without it, a good original art may sell for far less than its potential value, because you don't know what to expect from the sale and how to negotiate with the buyer.
Working with an independent art appraiser is better than workinging with appraisers with wearing many hats (appraiser/ broker, dealer), if you undestand the rule for "a conflict of interes." An art appraisal prepared by a qualified appraiser help you appreciate your art work in a detached or professionial manner. A typical consultation appraisal for disposition will explain what you have, the quality of your art work and its likely marketability, as well as some marketing strategies regarding the sale of your art work in its most appropriate market place.
What Should I Do If I Need to Make an Insurance Claim?
1) Prepare a set of photos of the damaged object and contact an art appraiser for a replacement value appraisal.
2) Commission an appraisal from a qualified art appraiser specializing in your type of art work. Qualifications of your art appraiser matter.
3) Schedule an on-site inspection or bringing the damaged item to your appraiser for a proper inspection. You also need to provide the original provenance documentation and previoius appraisal report for insurance for review. Important documentation includes photos of the property before damage, sales receipt, estimated value, insurance policy, etc.).
4) If you do not have an appraisal prior to the damage, you can still commission an art appraisal that estimates both the value of the object before damage and the after-damage value of the art work.
5) Present an appraisal report signed by a qualified art appraiser, together with a cover letter addressed to the insurance company from the appraiser for insurance claims.
My Art Work Is Damaged. Should I Repair It Myself?
Restoring a valuable object of art requires knowledge, skills, age-old techniques, training, and experience. To conserve an antique Chinese painting and calligraphy, for example, it will be considered a difficult task because very few craftsmen possess the necessary skills and experience to regain its original appeal. Remember too that imperfect restoration often results in the devaluation of a valued art work. Therefore, unless you are working with a qualified art restoration specialist specializing in Asian art (paper and silk) conservation, it is almost always better to maintain a damaged object in its current condition.
Dr. Yang recommends that unless you know exactly what you are doing, you should not attempt to repair damaged Chinese fine art on paper and silk yourself. Many old art objects, simply by virtue of their age, are in slightly damaged condition, which are acceptable. This need not be a cause for alarm, and you should never move to "correct" or "repair" damage or wear without first consulting a qualified silk and paper conservation specialist.
If your art object is considered "altered" or "damaged," its value will be decreased significantly. A scroll painting, for example, would be more valuable if the painting keeps its original rollers or mounting style. Other damage, such as mildew, stains or cracks on the surface of a painting, could be restored if done property. In short, consulting a conservation specialist for guidance is wise.
Appraisal Fees
Can You Appraise My Art Work for Free?
No professional can work for free. Like other professions, art appraisers with years of education, decades of experience and a set of special skills can not work for free. A good art appraiser needs to be compensated for her expertise and time because ach appraisal assignment takes time for study, research, market analysis, and writing. All these requires special training, expertise and skills. Therefore, paying for good professional services is your obligation unless you are interested in playing the "guessing game" with a less qualified art appraiser.
The Preview My Artwork service offered by Dr. Yang wishes to make the elite art consultation and appraisal services affordable for the general public. Because commissioning a full appraisal is expensive. A preview is a practical, cost-effective approach to receive some professional guidance on the suitability of an art work for appraisal prior to investing in an appraisal. Not every piece of artwork merits a full appraisal. Dr. Yang's preview comments identify the origin of your art work or artist, date of creation, quality, marketability, or suitability for appraisal, allowing you to make an informed decision at the minimum cost.
May I Pay You after I Sell My Art Work?
Paying a professional for his or her time and expertise is the right thing to do. Most appraisal assignments divide the payment into two parts: retainer and final payment, which giving your some control of the appraisal project. However, no professionals can afford to working on a project without a retainer, an indicator of the client's sincerity. Moreover, how to receive payment is an ethical issue, since professional appraisers are not allowed to receive payment from the proceeds of selling the art work in question or percentage of the sales proceeds due to concerns about the conflict of interest. Professional art appraisers do not premise our livelihood on the outcome of any particular sale--this would compromise the very independence from market forces on which the profession depends. In short, you need to pay a professional for her quality profesisonal services.
Do You Offer Discounts on Art Appraisals If I Have More Art Objects for Appraisal?
The appraisal cost is determined by the scope of work necessary to complete the assignment that meets your need. Dr. Yang is efficient and cost-concious art appraiser. While making an appraisal cost estimate, she does her best to offer the best deal to her clients without compromising the quality of her services.
What Methods of Payment Do You Accept?
For most appraisal assignment, Dr. Yang prefer a certified check or money order made out to "Wei Yang" and mail to: 274 Nassau Street, Princeton, NJ 08540. For previews, please make payment to: contact@weiyangart.com via PayPal or Zelle. If you are an international client, a bank wire transfer is recommended. Please Contact Us for our bank information.
In general, an appraisal assignment starts with a signed engagement letter and a retainer (50% of the proposed fee) to engage our services. When the appraisal report is completed, you will receive an email notice for the final payment. Once the final balance is paid in full, you will receive a hard copy of the appraisal report via first class U.S. mail or an express delivery method at your cost.
Return to FAQ (Part I)
Appraisal Questions & Answers
Value and Authenticity
Merit of Art Appraisal
Post-Appraisal Services
Appraisal Fees
