How We Estimate: The Logic Behind the Range
How We Estimate: The Logic Behind the Range
Author
Julian Thorne
Category
Valuation Guides
Published date
Read time
8 min read
What sits behind the range
We begin with comparables — recent results for similar objects, adjusted for condition, size, rarity, and provenance. From there we weigh what is specific to your piece against what the wider market is currently rewarding.
The range itself is deliberate. A low estimate is pitched to attract bidding and is usually the level at which a reserve sits; the high estimate marks where we would be pleased, not surprised, to land. The gap between them is a measure of certainty, not indecision.
A good estimate should feel slightly conservative. It invites competition, and competition — not the number on the page — is what ultimately sets the price.
An estimate is not a guess and it is not a target. It is a considered range, drawn from evidence, that tells you where a specialist expects the market to settle on the day.
What sits behind the range
We begin with comparables — recent results for similar objects, adjusted for condition, size, rarity, and provenance. From there we weigh what is specific to your piece against what the wider market is currently rewarding.
The range itself is deliberate. A low estimate is pitched to attract bidding and is usually the level at which a reserve sits; the high estimate marks where we would be pleased, not surprised, to land. The gap between them is a measure of certainty, not indecision.
A good estimate should feel slightly conservative. It invites competition, and competition — not the number on the page — is what ultimately sets the price.
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