What Is a Valuation? How It Differs from a Formal Appraisal

What Is a Valuation? How It Differs from a Formal Appraisal

by Christian Answini | Senior Fine Art Specialist

Whether you're downsizing, settling an estate, or simply curious about the worth of a family heirloom, you may find yourself asking: What is this worth? At Alderfer Auction, that question is often the first step toward understanding how an object might perform at auction. It’s also where two key terms come into play: valuation and appraisal. While they’re sometimes used interchangeably, they serve very different purposes.

Valuation vs. Appraisal: What’s the Difference?

A valuation is an informal, expert opinion on what an item might sell for at auction. It is typically verbal and based on a combination of market data, experience, and similar past sales. At Alderfer Auction, we offer free verbal valuations during our Walk-In Wednesdays and First Thursday events.
A formal appraisal, on the other hand, is a written document that provides a legally recognized estimate of an item’s value. This type of appraisal is often needed for insurance, estate planning, donation, or legal matters. Appraisals are more in-depth, often fee-based, and follow industry standards set by the Uniform Standards of Professional Appraisal Practice (USPAP)
Here’s how they differ:

Format

Valuation: Verbal

Appraisal: Written

Cost

Valuation: Free at Alderfer

Appraisal: Typically fee-based

Purpose

Valuation: Auction estimate

Appraisal: Insurance, estate, tax, legal purposes

Level of Detail

Valuation: General market estimate

Appraisal: Thorough documentation and research

Use Case

Valuation: For selling or exploring value

Appraisal: For legal or financial planning

 
At Alderfer Auction, our verbal valuations are grounded in decades of market experience. We examine the artist or maker, style, condition, provenance, and current market trends to provide you with a realistic estimate range.

These evaluations are especially useful for:

Determining if your item meets our auction standards
Understanding which type of auction (Discovery, Collectors, Fine Art, etc.) your piece may be suited for
Deciding whether to consign immediately or hold off for a future market upswing

Walk-In Wednesdays in Doylestown
To make getting a valuation even more convenient, Alderfer Auction offers Walk-In Wednesdays at our Doylestown location, inside the Timmons Gallery at 3795 US-202, Doylestown, PA 18902. Every Wednesday, a rotating member of our expert sales staff is on hand to evaluate your items and answer questions about the auction process. Valuations are also done at our headquarters in Hatfield, PA by appointment during normal business hours.
Whether you're bringing in a painting, piece of jewelry, antique furniture, or collectible, you’ll receive an informal verbal assessment of its potential auction value. Walk-ins are welcome, but we recommend reserving a spot to avoid wait times and ensure focused attention from our specialists.

First Thursdays with Christian Answini
On the first Thursday of each month, Alderfer Auction Senior Specialist Christian Answini is available in Doylestown for in-depth walk-in evaluations. Christian brings a wealth of knowledge in fine and decorative arts, and offers insights not only into auction values but also the broader historical and collecting context of your items.
If you’ve inherited something unique, or if you suspect you might have a high-value item, these Thursdays are an ideal time to visit. As with our Wednesday events, walk-ins are welcome, but reservations are encouraged for priority service.

What to Bring
We welcome a wide variety of items for valuation, including:

• Fine art and sculpture
• Jewelry and watches
• Coins and currency
• Antique furniture
• Asian art and ceramics
• Silver and decorative arts
• Books, maps, and historical documents
• Vintage toys and collectibles

You may bring photos if the items are too large to transport, such as furniture or large sculptures. High-quality images from multiple angles, including maker’s marks or signatures, will help our team give you a more accurate estimate.
No Obligation, Just Information. Our verbal valuations are free and come with no obligation to consign. However, if you decide to move forward, we’ll guide you through the next steps — from choosing the right auction, to marketing strategies, to final settlement after the sale.
Whether you're testing the waters or preparing to sell, a valuation is a low-pressure way to begin the process. And if your needs go beyond a verbal estimate, we can connect you with our formal appraisal services tailored to your situation.

Ready to Discover What It’s Worth?
Visit us at Walk-In Wednesdays or on the First Thursday of the month with Christian Answini at the Timmons Gallery, 3795 US-202, Doylestown, PA. Bring your treasures — or photos — and let’s talk.
Walk-ins welcome. Reservations preferred.
To schedule a time or ask questions, contact us at www.alderferauction.com or call 215-393-3000