Our Most Frequently Asked Questions

Frequently Asked Questions

Telling someone you are an art valuer is often met with a look of surprise. It’s not a job you hear of often, and unless you have the need for an art valuation it’s unlikely to be something you have thought about.

Co-directors of Art Valuations NZ, Briar Williams and Sophie Coupland, sat down to discuss their clients’ most frequently asked questions and to shed a little light on the valuation process.

How do you become an art valuer – did you do some special training?
There are very few art valuers in New Zealand. It’s not a job you can formally train for. It requires years of experience: looking at art, handling it, and immersing yourself in the periods, styles, and practice of an artist.
A formal background in Art History can help, but on-the-job learning is the best preparation for becoming an art valuer. All of our valuer colleagues here in New Zealand, ourselves included, have worked in auction houses, where you handle hundreds if not thousands of works a year and receive a crash course in “looking” at and valuing art.

How can you value a piece of art when everyone has their own opinion on what it may be worth?
This is a question we are often asked. In simple terms, it can be like valuing a house, a piece of jewellery, or a car. Many of the same principles apply. For real estate it’s “location, location, location” that really counts. For an artwork it’s “artist, artist, artist.”

The notoriety or importance of the artist can be one of the most defining factors affecting the value of a piece. Even a poor example by a well-known artist will have value because of “brand recognition.” Artists who are regularly traded on both the primary (dealer galleries) and secondary (auction) market build up a record of prices which provide benchmarks for other works to be compared against.

What else needs to be considered?
Size is a major consideration of value. Generally, a larger work will be more valuable than a smaller work, although works that are extremely large may have a lower value comparatively, as demand is smaller and they can be difficult to display.
Condition is another important factor, especially in watercolours and works on paper which are prone to fading, discolouration, and tears, all of which can reduce value. When assessing oil paintings, we check whether the work has cracking paint, whether there has been previous restoration, or whether there are tears and holes. Whether a work is typical of the artist is also significant. Works from an artist’s best period or series are usually the most valuable.

Does it matter if I can’t find the original purchase receipt?
No, it doesn’t, although it is useful to have. Provenance (the history of ownership of the work) can be important, especially if it has come from a notable collection, and a special provenance can certainly add value. However, if you can’t find your original documents, that won’t affect the value of the work in New Zealand.

What happens if you can’t find any information about the artist or any similar works to provide a valuation?
That’s when our skills as valuers really come to the fore and our years of experience are put to use. We look at works by similar artists working in the same style and period, and consider what they sell for. We research sales history in the market for this type of painting, and think about who might want to buy the work and how much they may be prepared to pay. This is informed by our discussions with collectors and others in the trade, attending auctions, and checking recent sales results. Often a value is provided after careful consideration and discussion, drawing on information from many different sources.

I don’t know if I need a market or an insurance valuation.
We suggest an insurance valuation if you don’t intend to sell the work in the short term. An insurance valuation will cover the work if it is damaged, stolen, or lost through fire or flood. It provides a replacement value – the amount you would need to replace the work in a retail setting. A market value gives you an indication of what the work may sell for if offered at a reputable auction house. It is important to remember that the value quoted will not include selling costs.