Here’s a question every collector should ask themselves – when was your last appraisal done?
The art market moves constantly. At artist’s market can shift dramatically in just a few years – upward or downward – and an appraisal that was accurate in 2019 may look nothing like today’s reality. Outdated appraisals are one of the most common reasons collectors receive inadequate settlements after a loss.
Our recommendation: review your appraisals every three to five years at minimum, and sooner if you’ve acquired new works, sold pieces, or seen major markt movement in artists you collect.
Think of it the way you think about updating your will: You don’t wait for something to go wrong before you revisit it.
Schedule a collection review with Veritas today.
