The metal art was created by a local artist that has his art in public places, original invoices available.
In Connecticut, the value will have to be zero, or it is deducted from the appraisal value, since if the art has value, and is included in the price, this reduces the house value.
You should remove the art objects prior to showing or getting an interested buyer otherwise they will make their offer based on you including the art but without an additional value given to them. I've had this happen to me. In the end I wanted to sell the property more than try to get the fair market value for the art objects.
Jeff and rock suggest that the sculptures can be removed from the site, without damaging them significantly. nor for that matter damaging the site. Are these works an integral part of the landscape? or could they be happily transplanted?
If irreparable damage is likely to occur to either the artworks or the landscape it may be preferable to leave the artworks in place and hope that the right buyer comes along and appreciates the added value.
Most residential homes are bought and sold as commodities. X number of square feet, so many bedrooms and baths. Think of cars, 99% of them are valued as commodities, A , Shelby cobras, Maseratis, and Ferraris and Maybachs and a few rare antiques are given premium values
If you have an estate quality home, then you may fully recoup much of the value of embellishments such as fine chandeliers,intricate medallions, wall murals, inlays ,waterfalls, rare plants, landscape art and other luxury touches.
If this is just a 300K or 400K median house. Then it is just lipstick...nice but it does not add much in value to the average buyer.
Whew,
but maybe you won't get an average buyer. Maybe you get lucky and the artist's number one fan is shopping for a house in just your neighborhood and price range. Sure the odds are long against that, but nothing is totally impossible. Your agent might try marketing to wealthy art patrons in addition to marketing through the benchmark real estate advertising venues. It might not help, but it couldn't hurt.
Banks frown on financing personal property for 30 years. Unless they are a "necessity" in the landscaping like retaining walls, I suggest removing them. Muc of my business is located within a resort community with just under 1000 homes, many of them second homes and investment property. Personal property is worth very little and things like furniture are normally negotiated outside the sale of the property. It gets complicated. Many sellers paid $15K for their funiture and expect to recoup the cost when they sell by sellingit furnished. Not so easy.
Hi Lisa
I think they will be virtually worthless to most buyers making an offer whether they truly feel that way or not. I can't imagine them being a determining factor in the purchase of your home, only something to complicate the sale. Sell them on your own, or take them with you would be my advice. Otherwise you will end up giving them away. I speak from experience given the boatload of antiques that we had to get rid of when we sold.
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