One of the most common questions we hear from families is: “How do I know what this is actually worth?”
It’s a fair question. The difference between a casual estimate and a proper appraisal can be thousands of dollars. Here’s what you need to know.
What Is an Estate Appraisal?
An estate appraisal is a professional assessment of the fair market value of items in a home. It’s conducted by a certified appraiser who specializes in the relevant category — fine art, jewelry, antiques, silver, etc.
Appraisals serve several purposes:
Estate planning and tax reporting (IRS requires qualified appraisals for estates over certain thresholds)
Insurance coverage and claims
Equitable distribution among heirs
Setting accurate prices for an estate sale
Identifying items that should be sold through specialty channels (auction houses, galleries) rather than a general sale
The Difference Between an Appraisal and a Price Guess
Anyone can look at a painting and say “I think that’s worth $500.” That’s not an appraisal. A qualified appraisal includes:
Physical examination of the item
Research into provenance (ownership history), artist/maker, period, and condition
Comparison with recent sales of similar items at auction and in the private market
A written report with the appraiser’s credentials, methodology, and valuation
This matters because an informal estimate has no legal standing. If you’re dealing with an estate for tax purposes, insurance, or family distribution, you need a documented appraisal from a credentialed professional.
What Typically Needs Appraising?
Not everything in a home requires a formal appraisal. Everyday household items can be priced using market research and professional experience. But certain categories warrant a closer look:
Fine art — paintings, sculptures, lithographs, and signed prints
Jewelry — especially pieces with gemstones, gold, platinum, or designer provenance
Watches — Rolex, Omega, Patek Philippe, and other collectible brands
Sterling silver — flatware sets, serving pieces, and decorative items
Antique furniture — particularly pieces from known makers or historical periods
Rare books and manuscripts
Asian art and artifacts
Wine and spirits collections
How to Choose an Appraiser
Look for appraisers who hold credentials from recognized organizations:
ASA (American Society of Appraisers)
AAA (Appraisers Association of America)
ISA (International Society of Appraisers)
These organizations require education, testing, and adherence to ethical standards including the Uniform Standards of Professional Appraisal Practice (USPAP).
Be cautious of appraisers who also want to buy the items they’re appraising. That’s a conflict of interest. A good appraiser provides an independent valuation — period.
What Does an Appraisal Cost?
Qualified appraisers typically charge by the hour ($150–$300/hour) or by the project. Avoid appraisers who charge a percentage of the appraised value — that creates an incentive to inflate numbers.
For a typical estate with a mix of art, jewelry, and silver, expect to spend $500–$2,000 on appraisals. It’s an investment that pays for itself many times over by ensuring nothing is undervalued.
How Palm & Sage Handles Appraisals
When we take on an estate, our team does an initial assessment of everything in the home. For items that warrant formal appraisal, we bring in our network of certified specialists — art appraisers, gemologists, horologists, and antiques experts.
You don’t need to find these people yourself. We coordinate everything, share the results with you, and use the appraisals to set accurate prices for the sale or recommend specialty channels for high-value pieces.
The Bottom Line
A proper appraisal protects you. It ensures valuable items aren’t sold for a fraction of their worth, gives you documentation for tax and legal purposes, and provides peace of mind that everything was handled professionally.
If you’re managing an estate and aren’t sure what you have, start with a conversation. We’ll walk through the property and tell you exactly what needs appraising — and what doesn’t.