Use an accurate value of an oil painting for insurance and selling.
Hundreds of consumers purchase oil paintings from auctions or even garage sales hoping that they have caught an undiscovered gem. Though it is rare to stumble upon a million-dollar painting, there are paintings out there that are worth a considerable amount of money. It is important to understand the value of oil paintings, especially before you spend thousands of dollars acquiring or selling one. An accurate value is critical for insurance purposes, but also for marketing your oil painting to other buyers.
Instructions
1. Find the provenance of the oil painting. The provenance is the history and ownership of the piece, which you can discover by looking at purchase receipts, exhibition stamps on the back of the painting or an online historical record. Research as far back on the history of your painting as you can to determine where it originated, where it has been displayed and who has owned it.
2. Note any specific styling and skills used to create the painting. Note the brushstroke direction, whether the painting is realistic or abstract, and the colors used in the painting. Be specific when writing down colors. Rather than just stating yellow, write down a more specific shade such as golden yellow or pale yellow.
3. Examine the canvas and painting completely using a magnifying glass. Search for any specific markings or the painter's signature. Also, take notes of branding, cracks in the paint and writing on the frame.
4. Perform an Internet search about the markings and characteristics of the painting and frame you have discovered. Look for frame makers or canvas companies that use those brand markings. Certain brands, especially those that date back a long time, are worth more than others. An antique brand must be made before 1930 to be considered antique, according to the Pratt Library.
5. Visit several online auctions and conduct searches on the name of the painter, the date of the painting and any brand markings or signatures found on it. Note the prices and values listed for similar paintings.
