Market Comparables
Market Comparables are similar items that have recently sold which appraisers use to determine the value of art and antiques. Think of it like looking up the prices of similar homes that sold in a neighborhood to figure out how much a house is worth. Appraisers analyze these comparable sales from auction houses, galleries, and private sales to establish fair market values. They're sometimes called "comps," "market analysis," or "comparable sales data." This research is a fundamental part of art and antique valuation, helping appraisers provide accurate and justifiable estimates.
Examples in Resumes
Researched Market Comparables to determine values for 19th-century paintings
Developed database of Market Comparables and Comparable Sales for contemporary art pieces
Used Market Analysis and Market Comparables to appraise estate collection of antique furniture
Typical job title: "Art Appraisers"
Also try searching for:
Where to Find Art Appraisers
Professional Organizations
Online Resources
Professional Networks
Example Interview Questions
Senior Level Questions
Q: How do you handle situations where market comparables are limited or difficult to find?
Expected Answer: A senior appraiser should explain alternative valuation methods, such as using similar artists from the same period, considering condition differences, and adjusting values based on market trends. They should also mention their network of specialists they can consult.
Q: How do you stay current with market values and price trends?
Expected Answer: Should discuss using multiple sources like auction databases, gallery sales reports, attending art fairs, maintaining relationships with dealers, and regular market research. Should mention specific databases and resources they use regularly.
Mid Level Questions
Q: What factors do you consider when selecting market comparables?
Expected Answer: Should mention factors like time of sale, condition, size, artist/maker, materials, provenance, and market conditions. Should be able to explain how these factors affect value.
Q: How do you document and present comparable sales in an appraisal report?
Expected Answer: Should explain how to organize and present comparable sales data clearly, including photographs, descriptions, sale dates, prices, and explanations of any adjustments made.
Junior Level Questions
Q: What are the main sources for finding market comparables?
Expected Answer: Should be able to list major auction databases, gallery records, online platforms, and explain how to access and search these resources effectively.
Q: Why are market comparables important in art appraisal?
Expected Answer: Should explain that comparables provide concrete evidence of market value and help justify appraisal conclusions to clients and organizations.
Experience Level Indicators
Junior (0-2 years)
- Basic research in auction databases
- Understanding of art market terminology
- Basic report writing
- Knowledge of major art periods and styles
Mid (2-5 years)
- Advanced market research skills
- Detailed analysis of comparable sales
- Strong report writing abilities
- Understanding of market trends
Senior (5+ years)
- Expert market analysis
- Complex valuation problem-solving
- Industry network development
- Mentoring and training others
Red Flags to Watch For
- Unable to explain how they research comparable sales
- No knowledge of major auction houses or databases
- Lack of understanding of market trends
- No experience with formal appraisal reports
- Unfamiliarity with standard appraisal organizations and their requirements
Related Terms
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