Call Us Now: (504) 282-7611

What Is The Difference Between Fair Market Value And Replacement Value?

These are the two levels of appraisal for fine art and antiques.

  • Fair Market Value (also known as potential sales price) is the amount a willing buyer would give for the item(s) in question.

The appraisal involves establishing demand, and ensuring that a seller (and a potential buyer) are on the same page about the market value of a piece.

  • Replacement Value (also known as gallery value) is primarily used for insurance appraisals and is the amount of money the owner can charge on short notice.

The appraisal involves identifying the market and understanding the context of the piece, including the artist and their unique style.

Every association of antiques requires that the appraiser defines the level of the appraisal before any amount is stated.

If you’re unsure which is right for you, The Appraisal Group is here to help.

Related Posts

Americana Collector Lewis W. Scranton

When it comes to collecting fine art and antiques, some people just can’t get enough.  One of these is Lewis W. Scranton. a Connecticut yankee whose passion is fine Americana.  Today The Appraisal ...

How Much is Your Collection Worth? The Appraisal Group Answers

If your collection is your passion, it pays to know how much value you should place on it. Perhaps you know to the decimal point how much you paid for cars, furniture or fine art. Perhaps you don’t...

Why You Need a Personal Property Appraisal in the Sharing Economy

Routine personal property and fine art appraisals are what The Appraisal Group is known for. In this new sharing economy many home owners are making ends meet by renting the family home while they ...

The Jewish Museum Uncovers Fraudulent Early American Portraits & Exhibits Them

The Jewish Museum is the latest to display fraudulent paintings from its collection. As fine art appraisers, The Appraisal Group cautions that you should take an appraisal of your collection to det...

As IRS & Courts Demand More, a CAGA Certified Appraiser Delivers More

As a member of CAGA – the Certified Appraisers Guild of America – The Appraisal Group meets and adheres to a set of standards that assure you are receiving the finest service on your fine art and a...

5 Steps To A Successful Fine Art and Antiques Appraisal

Because the world of antiques and fine art is a volatile one in which fair market values can change with the seasons and with taste, an appraisal on your fine arts and antiques, collectibles and co...