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July 06, 2008

Valuable artwork can be converted into liquid assets

From the Asheville, NC Citizen-TImes

Valuable artwork can be converted into liquid assets 

 

"The first thing is, you've got to determine what you have," he said.

Appraisers assess the value of art the same way real estate agents do houses - by comparing them to similar items and checking the prices they brought when sold. Appraisers are available in the Yellow Pages, on the Internet and from estate attorneys.

You'll want an appraiser who is accredited by the American Appraisers Association, the American Society of Appraisers or the International Society of Appraisers, said Milner. With an appraisal, you'll know how much it's worth when you offer it for sale, at an auction or online.