Like any niche category, western art has its own set of value indicators. In addition to universal qualities such as technique, composition, or medium, American western art markets often hinge on characteristics unique to the genre.

Larissa was recently asked to answer questions for an article with Artsy on insuring artwork by writer Maxwell Rabb. The questions prompted her to write this blog to help collectors understand insuring art from an appraisers perspective. 

Accurately appraising Western and wildlife art requires specialized knowledge. Market values are influenced by factors such as artist reputation within the genre, subject matter, medium, condition, provenance, and regional demand. Auction records alone may not fully reflect how these works trade in private or regional markets.

One of the most common sources of confusion for clients seeking an art appraisal is the difference between fair market value and replacement value. These are not interchangeable, and choosing the wrong type of appraisal can lead to serious issues.

If you are seeking an art appraisal for estate planning, insurance, charitable donation, or legal purposes, you may encounter the term USPAP-compliant appraisal.