Ah the mythical unicorn topic of the quilt world – Quilt Appraisal. I hear more woo-woo advice on this topic than I can to shake my vibrator at ( Yeah I said that.. I could have said stick but that would have been sooooo boring!) so I thought it was about this time to set the topic straight.
I am very excited that the rather amazing and BadAss Lori East has agreed to walk us through what it means to get our quilts appraised. She will shed light on the different types of appraisals and why we might want or need one more than the other.
Lori has lots to share so we are going to break this up into a couple of posts. So if you end with question just slap them right down there in the comments section and then I will pass them onto Lori for her sage advice on the matter.
See, she even looks BadAss!
Quilt Appraisals, The Big Picture
(c) 2014, Lori East
Do you ever wonder what appraising is all about, or why you would want to have a quilt appraised?
Don’t you just add up the cost of your materials? Can’t you just decide how much you want to make
per hour and multiply that by the number of hours you put into it? Well, no. But hang on. I am going
to help you understand what an appraisal is, why you need one, who should do it, and what they’re
looking at.
As many different kinds of quilters as there are, there are that many kinds of quilts. And that many
ways of making them. And you know, each and every one of those quilts has value. It might be
sentimental value, financial value, historical value, or decorative value. It might be all of these. But
each one has a value. It’s my job to find that value.
In short, a quilt appraisal is a written document that determines an objective value for your piece,
whether newly-finished or family heirloom. It includes written documentation substantiating that
value, and requires an unbiased opinion from an educated professional. It is at once both art and
science.
I’ve had people ask me if appraisals are worth the money. I ask them, “How would you feel if you
mailed your quilt off to Paducah and it never got there? Would you want to be reimbursed for it?”
Most of us would. If so, you need an appraisal. If you decided to sell a quilt, would you want to sell
it for what it’s worth? Thought so. You need an appraisal.
Before you come see me, you might want to know why you need to have your quilt appraised. There
are three basic kinds of appraisals: Insurance Replacement Value, Fair Market Value, and Donation
Value.
Ninety-five percent of the appraisals I do are for Insurance Replacement Value–including those
done just for curiosity. These determine a value to replace your piece with one of “like and kind,” or
what it would take to replace your quilt if the need arose. If you’re planning to enter a major show,
you’ll need an appraisal of this kind to go along with your entry (or you’ll pay a fee to cover the cost
of the appraisal at the show). But even if you’re not planning to show the quilt, remember: Houses
burn, pipes burst, things get stolen. Stuff happens.
If you lose a quilt, you can go to your insurance agent and ask for reimbursement, but most
insurance agents will reimburse you for the cost of a blanket, not the value of a work of art. You can
buy a blanket at Target, can’t you? If you think your quilt is the same as a Target blanket, don’t
bother with an appraisal. Take the thirty bucks from your insurance agent. But if you consider that
two or three yards of good-quality fabric can easily cost more than that, or that you’ve spent years
learning your craft in order to make your quilt, you need an appraisal. (For specific information on
scheduling quilts on your particular policy, please call your agent.)
Fair Market Value appraisals are for quilts you plan to sell. This kind of appraisal describes a value
that would be mutually agreed upon between a willing and knowledgeable buyer and willing and
knowledgeable seller when the item is exposed to the open market for a reasonable period of time. It
isn’t a guarantee of a sales price, but is an educated determination by an appraiser who has
knowledge of the current market.
Donation Value appraisals are required to satisfy the IRS requirements for donations. You’d need
this if you were donating a quilt or wanted to establish a value for estate planning.
So, you’ve decided that you do want to have an appraisal. You’ve decided what kind of appraisal you
want. Do you drag your quilt to the nearest quilt shop and ask them what it’s worth? How about the
local antique mall? How about that woman who is always buying all those dusty old things? No, no,
and no. This is a job for the professionals. Your local quilt shop will know how much all that fabric
you bought cost, and they will certainly be familiar with the different techniques you’ve used, but
they probably won’t know how those numbers contribute to the overall value of your quilt. The local
antique mall might be able to give you an idea how much quilts like yours have sold for, and they
might have an idea of age, but they won’t be able to objectively identify a piece’s historical
importance. And what can the old lady with the dusty stuff know about a Modern quilt, or an art
quilt? All of these folks have just tiny parts of the big picture. Yep, Big Picture. Using that term
makes me feel like a suit. It makes me laugh. Humor me. A knowledgeable appraiser will see all of
the parts of the Big Picture.
How do you find an appraiser? Google to the rescue. Go ahead, try it. Type in “quilt appraiser” and
see what you get. You are looking to find someone who has a certified designation from a
recognized appraisal society and is subject to specific standards. For example, I am certified by the
American Quilters’ Society, and am governed by standards of the Professional Association of
Appraisers of Quilted Textiles, and by the Uniform Standards of Professional Appraisal Practice.
What does that mean? It means I have to pay attention to the rules and all the legal stuff.
There are currently just over 100 AQS-certified appraisers in the U.S. and Canada. To find one in
your area, visit HERE
While there are certainly other people who are knowledgeable about appraisals, some have not been
tested and are not accountable to any overarching organization. Many insurance companies will not
accept their appraisals for a claim. You can rest assured that AQS-certified appraisers have
undergone stringent testing on their knowledge of textiles and appraisal practices. Don’t be afraid to
ask for an appraiser’s listing of qualifications and affiliations.
There are usually AQS-certified appraisers available at shows, from small local shows to the majors.
Check the show website to see if there will be an appraiser (and if there won’t be, suggest they find
one), and make an appointment.
To learn more about Lori and her adventures as Girl Appraiser, and sometimes as fringehomeschool-mom-who-quilts-and-knits-and-drinks-too-much-coffee,
visit her website at
LoriEast.com or her Facebook page, Lori East Quilts.
Next up – What do you mean they are going to fondle my quilt???
And remember if you have questions for Lori please leave them in the comments section and if you want to give me a thrill pin this article on Pinterest and share it on Facebook.
