How Art Gets Appraised: The Process of Determining What a Work Is Worth

"An appraisal is an opinion of value." Appraisers must comply with the 2024 Edition USPAP, the Uniform Standards of Professional Appraisal Practice. A certified appraisal costs $200 to $500 per item. The IRS requires a qualified appraisal for donations over $5,000. Here is how art gets appraised, and why it matters.