Consigning Property for Auction: Part 1 – Are You Ready for an Antiques Appraisal?

April 11, 2012||inPersonal Insurance|antiques, appraisals, fine art, homeowners insurance, personal insurance

Are You Ready for an Antiques Appraisal?

If you’re a collector of art and antiques or the heir to a family estate, no doubt you’ve thought about consigning some of that property to auction. So, what might be stopping you? Not knowing how to get the process started is the biggest obstacle to consigning.

Here are 5 steps for navigating the consignment process, and suggestions to help sail through it with ease.

Consigning Property for Auction: Part 1 - Are You Ready for an Antiques Appraisal?
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#1: Know What You Own

Before you consign antiques or fine art, you must know exactly what you have, what it is worth, and whether it is salable at auction. A full-service auction house is your one-stop shop for answering these questions, and bringing your property to auction.

#2: Look For An Auction House With Specialty Expertise

You’ll want to find an auction house that specializes in the type of objects you have and has a solid track record for selling them. Whether you have paintings, furniture, jewelry, musical instruments, rare Asian arts, or fine wine, a specialty auction house will have appraisers with expertise in specific collecting categories. Search online databases to check auction prices, visit auction house websites, or ask friends, family, or colleagues to share their auction experiences—the auction world is very word-of-mouth.

#3: Get Free, No-Obligation Verbal Appraisals

Be sure to choose a firm that provides verbal appraisals or auction estimates free of charge and with no obligation to consign. Be wary of any appraiser who offers to buy the property outright versus taking it on consignment.

#4: Get Your Property Assessed Without Leaving Home

Once you’ve selected your auction partner, have their appraisers assess your property. There are many ways to get in touch without leaving home. You can send digital or hard copy photographs via mail, email, or through the company’s website.

#5: Meet With An Appraiser In Person

You can also make an appointment to bring your items to the auction gallery for inspection. If you have a whole house full of material, an appraiser can make a “house call” to view the items in situ.

Be sure to watch for Part 2 …How to Get the Most Out of Your Antiques Appraisal. You’ll learn what to include in any information you send to an appraiser, and what to expect at an appointment.

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