Should You Get Your Quilt Appraised?

by Steffani McChesney

If you have a family heirloom or an expensive art quilt this is not a hard question to answer. Of course you should. But there are some other quilts you should consider having appraised besides grandmother’s masterpiece. Have you made or received as a gift a quilt with lots of beautiful hand quilting? Or maybe one with elaborate embroidery or other embellishment? If these quilts were lost or damaged they would be very expensive or even impossible to replace? Maybe an appraisal would be appropriate for these special quilts.

Now that I have talked you into considering an appraisal, you have to decide what kind of appraisal you need. I know what you are thinking. There is more than one kind of appraisal? Yes, there is. There are three different kinds to consider based on what you intend to do with the quilt.

But, first, what is an appraisal?  An appraisal states the value of the quilt in question based on several factors. First, the appraiser must know the purpose of the appraisal because the value of the quilt varies based on what kind of appraisal you want. The appraiser must be aware of the current market value of the type of quilt you are having appraised in your geographical area. The overall appearance of the quilt, the reputation of the maker, if known, and provenance (awards the quilt might have received or if it has appeared in a publication, for example) are important factors in determining the value of your quilt. The quality, workmanship, technique and pattern are also considered. In the case of an antique quilt, the quality of repairs and restoration are important too.

A Fair Market Appraisal is based on the amount of money a buyer is willing to pay for your quilt. This is based strictly on the opinion of the appraiser and does not take into consideration replacement cost or sentimental value. Most importantly, it is not a guarantee that you will get the full amount of the appraisal when you sell the quilt. It is only a guideline for the seller.

An Insurance Replacement Appraisal values your quilt based on what it would cost to replace it “like and kind.” These considerations include what you would have to pay to recreate the quilt with similar materials and workmanship or to find another quilt to replace it. This appraisal must be given to the insurance company before a loss occurs. Otherwise you will probably only receive replacement cost for materials or the cost of a replacement bedcovering. Sentimental value is not covered,

If you wish to donate your quilt to a museum or establish its value for inclusion in a will or other distribution of assets you should get A Tax Donation Appraisal. This is usually based on the fair market appraisal. Be aware that it is unethical for an appraiser to inflate the value for a tax deduction.

Which brings me to the final point, choosing of an appraiser for your quilt. Be sure to find an appraiser that is familiar with quilts, not just a general appraiser of textiles. An honest appraiser will tell you up front whether your quilt is worth an appraisal or if she/he does not feel qualified to appraise your quilt. An appraiser should charge you a flat fee for the service. The charge should not be based on a percentage of the quilt’s value. Under no circumstances should you let a textile dealer value your quilt if you intend to sell it. This is a conflict of interest.

If you are considering an appraisal, consult your insurance company to see what they require before seeking an appraiser. To find an appraiser, ask around your local quilt guild or contact the guild council for your area.