Debrah Dunner, an expert in contemporary craft appraisals, gives us the lowdown.
By Laine Bergeson Becco
May 30, 2022
Debrah Dunner
Whether to get an appraisal is a question many craft collectors ask themselves at different stages—maybe they’re thinking about selling an object, or maybe they’ve inherited an object and are curious about its value. Perhaps they’re estate planning, or they want to get a piece insured.
Debrah Dunner of Aesthetica Art Services in Potomac, Maryland, specializes in appraising contemporary American craft. Here, she weighs in on different scenarios that may warrant an appraisal.
Scenario #1: You want to sell an object at an auction.
There’s no need for an appraisal. “Every appraisal has an intended use and an intended user,” says Dunner, and the final appraisal is written to reflect those uses—for example, to determine fair distribution of assets or get proper valuations for insurance. If you’re just looking to sell a piece, “you don’t need to pay” for all the time, research, and expertise a full appraisal requires.
Instead, reach out to an auction house for a complimentary estimate. “If you want to know what an auction house will charge, you can ask for terms beforehand.”
If you don’t like the estimate you receive from one auction house, you can reach out to another house for a second opinion. But that may not be the best use of your time. “An object is only worth what someone is willing to pay for it,” says Dunner. “That’s the definition of value.”
Scenario #2: You want to buy a piece as an investment.
It depends on the situation. “If you are buying from another collector and you want to understand the value of the object at that point in time, it would be wise to bring in a qualified appraiser,” says Dunner. “If you are buying straight from the artist, the price set by that artist is the artwork’s current value,” she says, and an outside appraisal is a moot point.
Scenario #3: You want to make sure your collection is properly insured.
An appraisal is a good idea. A qualified appraiser can tell you if the value of your collection has gone up or down, and you can adjust your insurance policy accordingly. If the value of your collection has gone up—for example, if you own a piece or pieces by an artist who is very desirable right now—you might discover that you are underinsured and you’ll want to increase your coverage.
Sometimes values go down, and you can save money on your insurance premium with an up-to-date valuation. “I had a client who needed an updated appraisal for insurance on a photography collection,” says Dunner. “The photography market has been down within the past several years, so he discovered he was paying a higher premium than he should be.”
If your collection includes fragile items—objects made from glass, ceramics, even fibers, says Dunner—get an appraisal and make sure your insurance is up to date.
Scenario #4: You want to donate a piece to a museum.
Say you want to donate a Roberto Lugo teapot to the Renwick, and the Renwick has agreed to take it. Get an appraisal, says Dunner. You will need it for the valuation and the tax deduction.
Scenario #5: You want to update your will.
It depends on your situation, says Dunner, but if you want help understanding the fair market value of your collection and trying to determine equitable distribution, an appraisal is a good idea.
Scenario #6: You’ve been made the executor of an estate.
Your great aunt died and made you the executor of her will. Her estate includes a craft collection and you need help understanding its value. “Get an appraisal,” says Dunner.
Scenario #7: You’ve inherited a craft collection.
Have the collection appraised so you can insure it properly, says Dunner.
Laine Bergeson Becco is a writer and editor in Minneapolis.
Teapot by Roberto Lugo
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