Why should I use Artscapy Appraisal services?
Artscapy’s Appraisal Services offer collectors a seamless, easily accessible update on the value of their artworks, which is also valid for insurance purposes. Available within the Art Account, our collectors can confidently track the value of their artworks and collections, without the need to contract separately with an independent appraisal service or an auction house.
Artscapy’s appraisals are based on 30+ data points that are deeply analysed by experienced art appraisers and contextualised based on their market expertise. The estimation process involves two levels: a conservative low-end estimate and a more optimistic high-end estimate. Due to our extensive experience in the art market and in art insurance, we highly recommend the more favourable appraisal in our estimation, as it provides a more accurate and comprehensive assessment of the artwork’s value.
Unlike those of an auction house, the appraisals by Artscapy can be requested on a regular basis to track the artwork’s value over time, regardless of whether the artwork is intended to be sold or not. The Appraisal Service comes included in the premium memberships, or may be purchased separately.
What benefits do I get from using Artscapy appraisal services over other ones?
Artscapy’s appraisals are based on 30+ data points that are deeply analysed by experienced art appraisers and contextualised based on their market expertise.
The data points are fed through an algorithm that conducts weighted calculations based on the importance of various factors. The data outputs are then analysed in context with the raw data as well as expert judgement by our appraisals team to ensure the output is never fully reliant on only data inputs - which may be exposed to anomalies - and takes into account qualitative factors about the artist and artwork as well, for example the condition or provenance of an artwork. Likewise, by adopting a hybrid appraisal approach combining data and human expertise we can ensure that the appraisals are not subject to human bias or subjectivity.
The estimation process involves two levels: a conservative low-end estimate and a more optimistic high-end estimate. Due to our extensive experience in the art market and insurance, we highly recommend the more favourable appraisal in our estimation, as it provides a more accurate and comprehensive assessment of the artwork’s value.
Separate appraisal services tend to be costly and cumbersome, without an upside on the quality of the assessment. Unlike those of an auction house, the appraisals by Artscapy can be requested on multiple artworks and on a regular basis to track the artworks’ value over time, thereby confidently tracking the value of the art portfolio, regardless of whether the artworks are intended to be sold or not. Auction houses generally tend to undervalue artworks as they seek to maximise the attractiveness of the price for their bidders. Finally, auction houses tend to conduct the appraisals with the goal of acquiring lot consignments, which may influence the appraisal provided. Artscapy’s appraisal is done purely for the collector’s benefit to provide an accurate and comprehensive assessment of the value.
Why should I consider paying for Artscapy appraisal services when I already have auction houses offering to value my works for free?
Unlike those of an auction house, the appraisals by Artscapy can be requested on multiple artworks and on a regular basis to track the artworks’ value over time, thereby confidently tracking the value of the art portfolio, regardless of whether the artworks are intended to be sold or not. Auction houses generally tend to undervalue artworks as they seek to maximise the attractiveness of the price for their bidders. Finally, auction houses tend to conduct the appraisals with the goal of acquiring lot consignments, which may influence the appraisal provided. Artscapy’s appraisals are provided as an added value to our collectors, and still carry the benefit of being accepted for our embedded insurance.
What security protocols are used so that I know the person valuing my art collection, will never use or share my information with anyone else?
When you request a appraisal from Artscapy, you consent to the data on that artwork being shared with our appraisals team. We employ the strictest security and confidentiality protocols to ensure that the privacy of our collectors is protected. Your collection data is only visible to internal staff on a need-to-know basis to support your collecting needs and/or to troubleshoot any errors or problems that you flag to us. Each employee that accesses data undergoes regular data protection training and has contractually committed to restrictive non-disclosure covenants.
Artscapy does not have any secondary agenda with providing our appraisal service beyond adding value to our collectors, unlike an auction house that principally offers appraisals as a way to acquire auction lot consignments. Artscapy does not share your data - any data (including appraisal results) - with third parties. Our privacy policy elaborates in greater details and is viewable here. Artscapy is fully compliant with and registered with the Information Commissioner’s Office since our company formation.
Who has access to my appraisal once it is performed?
Your collection data is only visible to internal staff on a need-to-know basis to support your collecting needs and/or to troubleshoot any errors or problems that you flag to us. Each employee that accesses data undergoes regular data protection training and has contractually committed to restrictive non-disclosure covenants.
Artscapy does not have any secondary agenda with providing our appraisal service beyond adding value to our collectors, unlike an auction house that principally offers appraisals as a way to acquire auction lot consignments. Artscapy does not share your data - any data (including appraisal results) - with third parties. Our privacy policy elaborates in greater details and is viewable here. Artscapy is fully compliant with and registered with the Information Commissioner’s Office since our company formation.
What are the key metrics being used to value my collection?
Our appraisals are based on 30+ data points that are deeply analysed by experienced art appraisers and contextualised based on their market expertise. The appraisals take into account a host of factors, from auction performance of the artist and/or that of comparable artists and artworks, to primary market prices, to qualitative indicators of the artist’s trajectory, market trends, esteem and recognition in the art world by critics and experts, and many other factors. The data points are fed through an algorithm that conducts weighted calculations based on the importance of various factors. The data outputs are then analysed in context with the raw data as well as expert judgement by our appraisals team to ensure the output is never fully reliant on only data inputs - which may be exposed to anomalies - and takes into account qualitative factors about the artist and artwork as well. Likewise, by adopting a hybrid appraisal approach combining data and human expertise we can ensure that the appraisals are not subject to human bias or subjectivity.
What is the process the appraisal specialist uses to value the works?
Artscapy’s appraisal service employs a hybrid approach in order to reduce the risk of data anomalies and human biases influencing the appraisal process. Our appraisals are based on 30+ data points that are deeply analysed by experienced art appraisers and contextualised based on their market expertise. The data points are fed through an algorithm that conducts weighted calculations based on the importance of various factors. The data outputs are then analysed in context with the raw data as well as expert judgement by our appraisals team to ensure the output is never fully reliant on only data inputs - which may be exposed to anomalies - and takes into account qualitative factors about the artist and artwork as well. Likewise, by adopting a hybrid appraisals approach combining data and human expertise we can ensure that the appraisals are not subject to human bias or subjectivity.
How can I be confident that Artscapy is giving me a appraisal that will hold weight in the marketplace (especially with reputable auction houses)?
The appraisal services offered by Artscapy are intended to provide our collectors with a seamless, easily accessible update on the value of their artworks, which is also valid for insurance purposes. Available within the Art Account, our collectors can confidently track the value of their artworks and collections, without the need to contract separately with an independent appraisal service or an auction house.
If I have a very rare and special work, and I already know the most expert professionals to value this work, why would I trust Artscapy to give me an appraisal?
Our appraisal process is robust, based on a hybrid approach that combines data analysis and human expert adjustments. Our appraisals are based on 30+ data points that are deeply analysed by experienced art appraisers and contextualised based on their market expertise. Given the breadth of our approach, we are confident that we are able to provide a high quality appraisal that you may request conveniently directly from your Art Account. Separate appraisal services tend to be costly and cumbersome, without an upside on the quality of the assessment.
Nonetheless, we are human too, and sometimes there are cases that we do not immediately have the expertise to evaluate, or that are outside of our eligibility criteria. Should that be the case, we will let you know when you submit your appraisal request and will refund you any appraisal fees paid. We will also refer you to another specialist if there is one in our network.
