Insurance Appraisal: Clients use this appraisal to assess the replacement value of artwork in the event of loss, damage, or theft. Insurance appraisals enable art owners to secure appropriate insurance coverage to protect their investment. These appraisals enable insurance companies to determine appropriate coverage amounts and premiums for artwork, safeguarding collectors, galleries, and institutions against financial losses. Each item is carefully measured, documented, photographed with particular attention given to the condition. Each article is then extensively researched for replacement value. An insurance art appraisal provides accurate claim settlements by providing a reliable basis for reimbursement. Insurance appraisals should be reevaluated every five years.

Estate and Equitable Distribution Appraisal: Clients use this appraisal to evaluate the value of artworks as part of an estate for probate or distribution purposes. Estate appraisals are necessary for inheritance tax calculations and equitable distribution among heirs. When an individual passes away, their art collection becomes a part of the estate, and a thorough appraisal is necessary to determine the fair market value of each artwork. The valuation derived from estate art appraisals is essential for estate tax purposes, as tax liabilities are often based on the overall value of the estate. These appraisals provide beneficiaries, executors, and legal representatives with a clear understanding of the value of the art assets, facilitating equitable distribution among heirs or aiding in the execution of the deceased’s wishes outlined in their will.

Charitable Donation Appraisal: Clients use this appraisal in order to determine the fair market value of an artwork donated to a museum, educational institution, or other nonprofit organizations. Appraisals are necessary for individuals seeking tax deductions for their charitable contributions. An appraisal is necessary to receive an IRS tax benefit when donating art. Any article or group of articles contributed within a calendar year valued at $5,000 and over must have an appraisal report. These appraisals are based on fair market values at the time of the donation.

Restricted Appraisal: Clients use this appraisal for a specialized valuation conducted with specific limitations or conditions. This type of appraisal may be requested for various reasons, such as determining the value of a subset of an art collection or assessing artworks subject to certain restrictions or limitations. These appraisals require a nuanced approach, considering the unique circumstances and constraints associated with the artworks in question.

Additional Services: We provide litigation support for attorneys, liquidation and bankruptcy, and art financing for the purpose of securing a collateral loan. We also can provide a cost-benefit analysis to determine the benefits of sale versus a charitable contribution or gift.

DETAIL: Three Tahitian Women, Paul Gauguin, 1896, Medium: Oil on wood, 9 5/8 x 17 in. This panel once carried a note by the artist: “To the unknown collector of my works, Greetings— That he may excuse the barbarity of this little picture: the state of my soul is probably the cause. I recommend a modest frame and if possible one with a glass, so that while it ages it can retain its freshness. . . .”