Types of Art Appraisal:

• Formal appraisal assesses the artistic merit, condition, and historical significance of an artwork.
• The fair market value appraisal establishes the price that an artwork could fetch in a competitive market.
• Insurance Appraisal: Assesses the artwork's replacement cost for insurance purposes.
• An estate appraisal values the artwork for estate tax or probate purposes.

Answered by: Antiqueartbuyers