Guide

AI valuations: what they are for, and what they are not

Published — Your collection

Most people asking what a piece is worth are not planning to sell it. They want it on an insurance schedule, or they are settling an estate, or they simply want to know what they are living with. Those are the jobs this does.

What you get

An indicative market estimate with a confidence level, and a plain sentence saying what it is based on. Something like based on 4 sales confirmed by their buyers.

That last part is the part worth caring about. A number with its own workings shown can be argued with. A number with no workings is just a number with a logo on it, and the art world has plenty of those.

When it becomes available

A fresh valuation unlocks on a piece once the artist whose work it is has five confirmed sales on Veriroo. That counts sales settled through Veriroo and off-platform sales that buyers have confirmed.

Below five, the button is greyed out and shows the count so far, and no token is spent. There is nothing to be gained from an estimate built on one sale except false confidence.

This is also the quiet argument for recording your off-platform sales. Each confirmed one moves every piece by that artist closer to being valuable.

What it costs, and who can run one

One valuation token per fresh valuation. The owner can value a piece they hold, and anyone can buy their own private valuation of a piece that is listed for sale, which is useful if you are deciding whether to bid.

What it is not

It is not an appraisal. It is a guide, and for a formal figure, the kind an insurer or a probate process will accept, you commission an expert valuation from a person.

We are deliberate about that line, because blurring it would be the easiest money on the platform and the fastest way to be worth nothing. An AI estimate presented as an appraisal is a liability wearing a nice jacket.

Valuation tokens

One token per fresh valuation, topped up from your account.