Texas Woman Turns Oil Painting into Gold.
MARSHALL, TX People who think that finding a valuable oil painting in their inheritance is like hitting a mega millions jackpot need to know how to play the game, advises David J. Goldberg of the New Orleans based Appraisal Group. First, work with an experienced art appraiser who can give you a realistic valuation. Second, sell your oil painting in the right auction house.
Here's how one Texas woman made sure the Western art in her family inheritance brought a very high price:
When Libby Dannelly Nelson, a resident of the small town of Marshall, Texas, inherited a 100-year old mansion in the even smaller town of Jefferson, Texas, she was overwhelmed by all the Victorian furniture, antiques and oil paintings.
One of the paintings carried the signature of Albert Bierstadt, a famous 19th century painter of Western landscapes. Named "Above the Timberline," it showed snowcapped mountains in the distance and a lone Indian horseman in the foreground.
The painting evoked an America that disappeared long ago. Mrs. Nelson knew of Bierstadt and suspected the work, which had been in her family as long as she could remember, might be worth about $2,000, but she wasn't sure.
She was sure she needed help to sell the contents of the 8,000 square foot mansion. Mrs. Nelson searched the Internet for nearby antique appraisers without finding one she felt was qualified. Then she decided to search a city known for its antiques. By googling New Orleans appraisers, she came up with David J. Goldberg of The Appraisal Group.
Mr. Goldberg met her first criteria: he was CAGA certified. He had taught antiques at LSU and Tulane, which meant he must know his stuff. He had also helped more than 146 people contest insurance claims after Hurricane Katrina. That gave Mrs. Nelson confidence in his abilities. When she met him, David Goldberg's knowledge and demeanor impressed her even more.
On appraising the contents of the house, Mr. Goldberg offered several options:
Sell some of the antique furniture to well-known dealers of Victorian furniture...
Hold a nationally advertised estate sale on premises for the rest. With 30 years experience in antiques and auctions, Mr. Goldberg could easily organize, advertise and conducte the sale...
Take the Albert Bierstadt oil painting to auction. That meant turning down a private offer for $70,000, but Goldberg was certain "Above the Timberline" would easily command more than $100,000.
Mrs. Nelson recalls that David Goldberg explained the market to her. Fine art paintings, he said, fall into categories and each category has its own group of collectors and its own specialty auction houses. With Western Art, he noted that the Coeur d'Alene Art Auction (which conducts its summer auction in Reno) has the strongest sales record in its field.
The Coeur d'Alene Art Auction experts agreed with Mr. Goldberg that the painting should exceed $100,000 if sold at auction. That was February and the next auction was not scheduled until July 24, 2010. Mr. Goldberg handled all the negotiations regarding seller's commission, insurance and shipping.
Mr. Goldberg then set about turning Libby Nelson's historic home into an antique shop. 
"He brought chests and tables and chairs from all parts of the house and set them up so that it looked just like an antique shop," Mrs. Nelson recounted in a phone interview recently. "It all looked so good that my friends and I started antiquing my own stuff. It was as though we'd never seen it before."
The Jefferson Historic Home estate sale was publicized across the United States, with excellent results. "Stuff just flew out of the house," Mrs. Nelson said.
After the estate sale, the only thing left to do was finalize travel plans to Reno for the Coeur d'Alene Art Auction. It was Mrs. Nelson's first trip to Reno and her first big auction.
On the day of the art auction, Mrs. Nelson, her husband and David Goldberg sat together. With absentee bids stacked up and bidders in the room going up against telephone bidders and online bidders, the event was definitely high energy.
When the auctioneer brought the Albert Bierstadt, known as Lot 84, to the podium, Mrs. Nelson waited nervously as bidders drove the price up and up. The final sale price came in at $105,300, including the buyers' premium.
Mrs. Nelson was thrilled. David Goldberg had been right. He had realistically appraised Albert Bierstadt's snow capped mountain scene at more $100,000. He had located the right auction house for it. And he gave Libby Dannelly Nelson a day—and a nest egg—she will never regret.
5 Questions to Ask Your Appraiser
New Orleans, LA (PRWEB) June 28, 2010
When it comes to appraising and selling your personal property, you want the best appraiser you can find. To identify someone who can help you get fair market value or more, you will need an appraiser with a good network and knowledge of the auction houses. David J. Goldberg of The Appraisal Group says there are 5 important questions to ask.
According to New Orleans based fine arts and antiques appraiser, David J. Goldberg, people everywhere are looking at their family heirlooms, fine art and collectibles as sources of revenue. Trying to sell antiques and fine art yourself is time consuming and often, if it is not done correctly, actually results in monetary losses, Mr. Goldberg states.
For example, the owner of an historic mansion recently called Mr. Goldberg to look at a painting she wanted to sell for around $2,000. Mr. Goldberg estimated the painting’s value at approximately $200,000. He also knew whom to call to sell it.Without David J. Goldberg’s knowledge, the owner might have sold the painting for $2,000 and never known its real market value.
To help you find an appraiser who has the knowledge to assign fair market value and knows where to actually realize such high prices, Mr. Goldberg suggests you ask these 5 questions.
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Is your appraiser ethical? You can check on an appraiser’s reputation by contacting the professional societies with which he is affiliated. In David J. Goldberg’s case, you would want to check with Certified Appraisers Guild of America.
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Is your appraiser knowledgeable? An appraiser who has a large base of knowledge, or perhaps has been in the auction business, as was David J. Goldberg or owned an antique shop or art gallery, has more hands-on knowledge and is more likely to be a walking price history.
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Does your appraiser have enough experience? The more art and furniture he has seen, the better. A long-time appraiser will know how to spot both questionable and fine items. He will recognize exceptional paintings, for example, when he sees them and be able to gauge market trends.
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Does your appraiser have a large network? The more professionals your appraiser knows, the better. Colleagues in the antiques trade and art field can help him correctly identify rarities. They can also lead him to the best buyers.
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Does you appraiser have a track record? Find out if your appraiser knows how to conduct an auction or estate sale and market it nationally. High-dollar estate sales attract buyers from all 50 states, Europe and Asia. Case in point: in May, David Goldberg helped a family dispose of an estate with a nationally advertised $1,000,000 value. If your appraiser cannot do this, find another.
BACKGROUND The Appraisal Group was founded in 1994 by David J. Goldberg and his father, Morton Goldberg. The Goldbergs owned the largest auction gallery in New Orleans and the South for many years. David Goldberg holds degrees from Columbia University and the University of North Carolina. He has taught course in antiques and appraisals at Tulane University for 14 years and been a professional appraiser for the past 15 years. (504) 282-7611.
