Stained Glass Appraisal
There are many factors involved when it comes to stained glass window appraisal. Many places can offer you an insurance value appraisal but fail to mention that the actual market value of the antique glass is infinitely different. D.C. Riggott Inc can help you sift through insurance value, actual market value, retail value, and wholesale value by contacting us.
What is the difference between insurance value, actual market value, retail value, and wholesale value?
Insurance value is the amount of value that you give a particular item to be reimbursed by the insurance company in the unfortunate event of damage or theft. This value will typically be double, triple, quadruple, or even more that what the actual market value value currently is. It is best not to expect this amount when selling a stained glass window.
Actual market value:
Actual market value, on the other hand, is the amount that the item will actually sell for in today’s market, taking into full consideration the state of the economy as well as current supply and demand levels.
Retail value is comparable to actual market value, and is the ideal amount of money you could obtain for your window if a best-case-scenario situation were to take place.
Unless you are fortunate enough to sell your stained glass to the end-user, then a wholesale value is a more realistic goal to reach.
What is the problem with insurance value?
Stained glass is classified as “artwork” and therefore the price is a bit ambiguous— there can be historical value, heritage value, and even personal value attached to a piece of artwork. Insurance companies will tend to resort to a textbook price-per-square-foot appraisal, but this is dangerous as they will appraise a plain, 10’ geometric window the same as a 10’ Louis Comfort Tiffany stained glass window, as both windows have the same square footage. Even if the insurance company does distinguish a difference between the plain window and the Tiffany window, they will still quote the window at an absurdly high rate since they do not want to undervalue the stained glass. It’s also good to keep in mind that the insurance company makes more money the higher they appraise an item at.
Contact us to discuss appraising your stained glass windows further.