AI "Pricing" Apps: What's the Problem?

Recently, I’ve been investigating some AI powered antiques and art “pricing” apps made available to the public. There are several out there, with a number charging a subscription service or a free trial. 

I can see why this would be attractive to someone who is seeking a valuation on a piece that they may wish to sell. But as with all things currently AI generated or powered, there are some major problems and pitfalls.

While these apps can seem to be a good starting point, they often mislead when it comes to antiques, art or other items of value. Why?

🔹 Pricing issues – Apps rely on asking prices for requested items, not actual sales, and often confuse retail vs. resale values.

🔹 Misidentification – AI misses fakes, forgeries, repairs, and subtle details that dramatically impact value. These apps also can’t discern markings: one app gave an example of a Tiffany lamp from a photo…WITHOUT any provenance, markings or Tiffany “tells” that an appraiser would know.

🔹 Data gaps – Poor photo quality, flawed databases, and lack of market context lead to skewed results. These apps are not keeping track of market data that impact the value of an item. 

🔹 User risks – Paywalls, privacy concerns, and over-reliance on AI can create costly mistakes. Once you use such an app, your digital info. is out there for all to capture! 

Don’t be enticed by the apps’ bait of extraordinary discoveries at a low price that are then revealed at a value of hundred of thousands! . If you need help with a valuation, appraisers often do these and/or can point you to a credible source for the valuation based on the item. 

Bottom line: Consult a human authorized appraiser. We can help with your valuations!