Olga de Amaral "Lost Image VII" Tapestry
GUEST: We inherited it from my mother, and it was by far the most expensive piece of art she purchased. I believe it was, um, 1992. And she paid $16,200.
APPRAISER: Okay, so not nothing. (laughing)
GUEST: Not nothing. Especially for her. Um, she liked having women artists in her house; uh, um, their artwork, anyhow. And this we knew was a woman from Chile, and it's something that always got a lot of attention.
APPRAISER: And who is the artist?
GUEST: Olga de Amaral.
APPRAISER: Yes, so Olga de Amaral um is a-a quite well-known fiber artist and actually from Colombia, not Chile.
GUEST: Oh, really?
APPRAISER: And is still living and actively working. She is 93 years old, still has her Bogota workshop. This work is signed on the reverse. So we do have a date, May 1992. It comes from her series called "Lost Images" or "Imagen Perdida." That was a series of about 17 works, um, at least that many are known and some are in museum collections.
GUEST: Really?
APPRAISER: Um, and it was a traveling exhibition at the time that went to several venues throughout the U.S., including the Allrich Gallery in San Francisco, where your mother had acquired this. And where was this piece displayed?
GUEST: In her bedroom, actually. Um, and she spent the last years of her life in bed, so it was significant. It was an important piece for her.
APPRAISER: When this came in, I kind of couldn't believe what I was looking at. I did not think I would get this close to a work by de Amaral.
GUEST: Get out of here.
APPRAISER: So, thank you! (laughing): this is really exciting.
GUEST: Really?
APPRAISER: And what do you think this-this material is?
GUEST: Well, it looks like leather, but I'm sure it isn't, so...
APPRAISER: Exactly, it's not leather. It definitely has that look to it. It's cut strips of linen that she has gessoed, painted, and then gilded. And before the last gilding, she's also pulled out threads in a, in a weaving process called drawn work. And so she's cut and drawn these threads out to create little breaks in between each square of gold. Now, going back to what your mother paid, remind me again?
GUEST: $16,200.
APPRAISER: Okay, so about $35,000 today. That's not nothing. That's a-a decent price. (laughs) Taking into consideration that it does need some conservation, I'm going to be very conservative. Conservative.
GUEST: Conservative.
APPRAISER: (chuckles) In this condition, untouched, I would say easily, comfortably...an estimate at auction of $150,000 to $250,000.
GUEST: Yikes. All right! (laughs) That's...it's worth, uh, doing the, um, doing the work on it.
APPRAISER: Definitely, I think you wouldn't need to spend more than a few thousand to get it really in tip top shape.
GUEST: Would that change the, uh, value?
APPRAISER: Oh, yeah. Again, I'm going to say conservatively, I'd add another $100,000 to that. $250,000 to $350,000.
GUEST: I see why people cry on ROADSHOW.
APPRAISER: (laughs) I would insure it for $500,000. Because her works have gone for well above that number at auction in recent times.
GUEST: Oh, my.
APPRAISER: They're very sought after.
GUEST: Thank you. Thank you very much.
$150,000 Auction
$500,000 Insurance
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Understanding Our Appraisals
Executive producer Marsha Bemko shares her tips for getting the most out of ANTIQUES ROADSHOW.
Value can change: The value of an item is dependent upon many things, including the condition of the object itself, trends in the market for that kind of object, and the location where the item will be sold. These are just some of the reasons why the answer to the question "What's it worth?" is so often "It depends."
Note the date: Take note of the date the appraisal was recorded. This information appears in the upper left corner of the page, with the label "Appraised On." Values change over time according to market forces, so the current value of the item could be higher, lower, or the same as when our expert first appraised it.
Context is key: Listen carefully. Most of our experts will give appraisal values in context. For example, you'll often hear them say what an item is worth "at auction," or "retail," or "for insurance purposes" (replacement value). Retail prices are different from wholesale prices. Often an auctioneer will talk about what she knows best: the auction market. A shop owner will usually talk about what he knows best: the retail price he'd place on the object in his shop. And though there are no hard and fast rules, an object's auction price can often be half its retail value; yet for other objects, an auction price could be higher than retail. As a rule, however, retail and insurance/replacement values are about the same.
Verbal approximations: The values given by the experts on ANTIQUES ROADSHOW are considered "verbal approximations of value." Technically, an "appraisal" is a legal document, generally for insurance purposes, written by a qualified expert and paid for by the owner of the item. An appraisal usually involves an extensive amount of research to establish authenticity, provenance, composition, method of construction, and other important attributes of a particular object.
Opinion of value: As with all appraisals, the verbal approximations of value given at ROADSHOW events are our experts' opinions formed from their knowledge of antiques and collectibles, market trends, and other factors. Although our valuations are based on research and experience, opinions can, and sometimes do, vary among experts.
Appraiser affiliations: Finally, the affiliation of the appraiser may have changed since the appraisal was recorded. To see current contact information for an appraiser in the ROADSHOW Archive, click on the link below the appraiser's picture. Our Appraiser Index also contains a complete list of active ROADSHOW appraisers and their contact details and biographies.
