Appraisal and Valuations
SKU:
£15.00
£15.00 - £55.00
per item
If you have an old instrument, or a new instrument perhaps, that you need valued for insurance purposes, or in order to decide whether to repair or restore it, then you can use our valuation service to help. We offer a tiered service depending on the level of detail required and whether the instrument is easy to value or needs more research.Â
Whilst we love to share our knowledge and look over your instruments, we also need to bear in mind money laundering regulations, our responsibility to check whether the customer owns the instrument legally, and at the same time communicating to the public the value of our time and expertise.
So anyone asking for an appraisal or valuation will need to fill in a form with their personal details and show ID, and we will have to charge a small fee for the service. The fee structure is:
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For the second and third service you may need to leave your instrument with us for a period of time for us to conduct our research.
If your instrument or bow needs repair or restoration and you want to know the value to decide whether it is worth repairing or restoring you will need to pay for one of our valuation services if you are unsure before accepting our quote for repairs or restoration.
*Please read the lengthy description below for our opinion on valuations and our philosophy that we will bring to bear on your specific valuation.*
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Whilst we love to share our knowledge and look over your instruments, we also need to bear in mind money laundering regulations, our responsibility to check whether the customer owns the instrument legally, and at the same time communicating to the public the value of our time and expertise.
So anyone asking for an appraisal or valuation will need to fill in a form with their personal details and show ID, and we will have to charge a small fee for the service. The fee structure is:
Â
- Verbal on the spot opinion after quick appraisal: £10
- Verbal valuation after discussion, appraisal and in-house/online research: £25
- Written valuation after detailed research with a shop certificate for insurance or for the purposes of selling the instrument: £50
For the second and third service you may need to leave your instrument with us for a period of time for us to conduct our research.
If your instrument or bow needs repair or restoration and you want to know the value to decide whether it is worth repairing or restoring you will need to pay for one of our valuation services if you are unsure before accepting our quote for repairs or restoration.
*Please read the lengthy description below for our opinion on valuations and our philosophy that we will bring to bear on your specific valuation.*
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What is a valuation? What does the word 'value' really mean?
Many companies will lure you in the door by offering free valuations, but watch out for the catch. The word valuation means different things depending on the context. It is important to ask them what kind of valuation they are giving you. More often that not, value is subjective, fluctuates depending on the market and moreover, whether you are buying or selling. There are many different values, and all of them are fluid. Within these categories of value there are other variables: condition, realisable value, sound and playability.
The Variable of Condition
Condition is often overlooked and this is why it is important to have your instrument appraised by an expert luthier, who will be able to properly assess the condition and the impact this will have on the value. If a lot of money needs to be spent on restoring the instrument or setting it up ready for sale then this will have to be deducted from the trade value.
The Variable of Sound and Character
Another variable is the individual character and sound of the instrument. Some will try and tell you that this does not impact on value, but in my experience this is only true at the very highest level of the market, where the maker and the provenance trump the sound. Otherwise, if you want to sell an instrument to a dealer or player then the sound and playability is of utmost important for a realisable value. A player is not going to buy an instrument which simply has antique value without having a sound to match the price tag.
The Variable of Realisable Value
This is a dynamic factor, which changes depending on the market, chance, subjective whims, product placement, marketing expertise and so on. It is similar to selling a house or a car - the value is what someone is prepared to pay at a particular moment in time. There may be someone willing to pay more or less tomorrow, but you take that chance when you decide whether to accept an offer, based on consideration of the other factors involved, and how much time you want to allow to test the market.
Insurance Value
An insurance valuation is required by your insurance company for verifying the replacement value of your instrument. This is the best case scenario value for your instrument and will be higher than all the other values. The value will often be considerably higher than the price you could achieve if you sold the instrument at auction, to a dealer, or even privately.
Retail Value
This is the price tag that your instrument would have on the shelf. A lot of preparation goes into getting an instrument ready for sale, not to mention the marketing of the instrument, and the overheads of the shop, staff salaries, rent, tools and equipment for getting the instrument into tip top condition. These are normal costs in any business. Don't be surprised if the ticket value is a lot more than the trade value. There will still not be a lot of profit left after all the expenses are paid!
Trade Value
It is best to think of the value of your instrument as being the trade value rather than the insurance value. This is a more realistic assessment of what you could achieve if you wanted to sell your instrument. You are most likely to sell your instrument at a trade value. A shop or dealer will have to make a profit on the sale of the instrument. They will usually be taking a risk and it might be a long time before their investment is returned. They will take this into account when making you an offer.
Private Value
As with selling a car, you can sometimes get a higher price for it if you sell it privately, but there are risks, and it can take longer to achieve a sale.
Auction Value
An auction house will usually want to put a low reserve on an item so that it will definitely sell, as they do not want to have to invest in advertising it for no return. Sometimes an auction is the best way to sell an instrument, if it is in poor condition for example, or is by an unknown maker or a more unusual maker or has unusual dimensions or features. It is a way of testing the market for something where the value is more subjective or difficult to pin down. As with selling a house, the value is what someone is prepared to pay.
Investment Value
We often get asked whether something is a good investment, or whether it will go up in value. This depends not only on what you are buying but also on the market and is difficult to predict. A well made instrument, properly looked after and set up, is always a good investment for a player, as you will get so much out of it in terms of use, reward, pleasure, and it will be easier to sell it.
Sentimental Value
Sometimes we will get asked to lovingly restore an instrument that is not valuable in the market but has great sentimental value to the owner. This is perfectly legitimate and often makes for the most enjoyable experience for both the restorer and the owner.
Intangible Value
A good instrument that plays well is invaluable to any serious player. This is arguably the most important value of all, as instruments are machines that need to work for us. let's not get too hung up on the 'value' of an instrument, but focus on it's value to us as custodians and users of these incredible machines!
The Variable of Condition
Condition is often overlooked and this is why it is important to have your instrument appraised by an expert luthier, who will be able to properly assess the condition and the impact this will have on the value. If a lot of money needs to be spent on restoring the instrument or setting it up ready for sale then this will have to be deducted from the trade value.
The Variable of Sound and Character
Another variable is the individual character and sound of the instrument. Some will try and tell you that this does not impact on value, but in my experience this is only true at the very highest level of the market, where the maker and the provenance trump the sound. Otherwise, if you want to sell an instrument to a dealer or player then the sound and playability is of utmost important for a realisable value. A player is not going to buy an instrument which simply has antique value without having a sound to match the price tag.
The Variable of Realisable Value
This is a dynamic factor, which changes depending on the market, chance, subjective whims, product placement, marketing expertise and so on. It is similar to selling a house or a car - the value is what someone is prepared to pay at a particular moment in time. There may be someone willing to pay more or less tomorrow, but you take that chance when you decide whether to accept an offer, based on consideration of the other factors involved, and how much time you want to allow to test the market.
Insurance Value
An insurance valuation is required by your insurance company for verifying the replacement value of your instrument. This is the best case scenario value for your instrument and will be higher than all the other values. The value will often be considerably higher than the price you could achieve if you sold the instrument at auction, to a dealer, or even privately.
Retail Value
This is the price tag that your instrument would have on the shelf. A lot of preparation goes into getting an instrument ready for sale, not to mention the marketing of the instrument, and the overheads of the shop, staff salaries, rent, tools and equipment for getting the instrument into tip top condition. These are normal costs in any business. Don't be surprised if the ticket value is a lot more than the trade value. There will still not be a lot of profit left after all the expenses are paid!
Trade Value
It is best to think of the value of your instrument as being the trade value rather than the insurance value. This is a more realistic assessment of what you could achieve if you wanted to sell your instrument. You are most likely to sell your instrument at a trade value. A shop or dealer will have to make a profit on the sale of the instrument. They will usually be taking a risk and it might be a long time before their investment is returned. They will take this into account when making you an offer.
Private Value
As with selling a car, you can sometimes get a higher price for it if you sell it privately, but there are risks, and it can take longer to achieve a sale.
Auction Value
An auction house will usually want to put a low reserve on an item so that it will definitely sell, as they do not want to have to invest in advertising it for no return. Sometimes an auction is the best way to sell an instrument, if it is in poor condition for example, or is by an unknown maker or a more unusual maker or has unusual dimensions or features. It is a way of testing the market for something where the value is more subjective or difficult to pin down. As with selling a house, the value is what someone is prepared to pay.
Investment Value
We often get asked whether something is a good investment, or whether it will go up in value. This depends not only on what you are buying but also on the market and is difficult to predict. A well made instrument, properly looked after and set up, is always a good investment for a player, as you will get so much out of it in terms of use, reward, pleasure, and it will be easier to sell it.
Sentimental Value
Sometimes we will get asked to lovingly restore an instrument that is not valuable in the market but has great sentimental value to the owner. This is perfectly legitimate and often makes for the most enjoyable experience for both the restorer and the owner.
Intangible Value
A good instrument that plays well is invaluable to any serious player. This is arguably the most important value of all, as instruments are machines that need to work for us. let's not get too hung up on the 'value' of an instrument, but focus on it's value to us as custodians and users of these incredible machines!