I started a thread on 08/25/2021 titled
Why Should I Get My Quilt Appraised? Here is a link if you’d like to see what was said there:
Why Should I Get My Quilt Appraised?
I decided to get the appraisal. A few weeks after the quilt was returned, I received a written appraisal of $1,476.00. There was an error in the spelling of my name so I called the appraiser for a correction and found out some interesting things in our conversation.
The appraised value is only for replacement cost redone by a professional... not me. It wouldn't take a professional as long to make it again so that reduces the value. Having it juried into a bunch of prestigious shows does not increase its value. It would only increase the value if it won ribbons... and only by about $100. Really high appraisals are given to well-known/successful people in the quilting industry.
I assumed the market value would be higher than the appraised replacement-cost value, but she said it would usually sell for less. Something is only worth what someone is willing to pay. That could be more or less than the replacement-cost appraisal, but in her experience it’s usually less.
Keep in mind that this was my understanding in a brief conversation with an appraiser who has pages of credentials, spanning decades, and experience in judging major shows. Other appraisers, with their own training and experiences, may have something different to say.