Fine Art Appraisals for Insurance Purposes
Fine Art generally refers to the media of drawing, sculpture, painting, original prints, and photographs. It is distinguished from other art forms in which the intellectual expression or aesthetic is more prominent than the pragmatic purpose.
A written appraisal report includes:
- Survey of your property or collection to determine which works need an appraisal, if desired.
- Examination of chosen works.
- Color photograph of each work.
- Description of each work (following the Getty Descriptive Standard).
- Research of current market, artist’s biographies, careers, and sales.
- Collection of all pertinent information for intended use to determine appropriate type of value.
- Report with value conclusion fully explained and prepared in compliance with the most current edition of The Uniform Standards of Professional Appraisal Practice (USPAP) as required by Congress.
All appraisals are given as hard copies, as well as an electric copy for your convenience.
Art Investment Consultation & Market Condition Analysis
Fine Art is considered a relatively stable and long-term investment if properly handled. In recent years, a growing number of people have recognized that art is a real asset class. Leading financial analysts have determined that investors who add art to their portfolio not only get a larger return, but also decrease their risk. Investing in art has a wide range of purposes from designing an art program for a business, building an investment portfolio, to adding to a personal collection for enjoyment.
A market analysis report is similar to an appraisal, but presented in a less formal way. This report will inform the client of information based on a comparative market analyses of historical art price indices, including international and regional Fine Art auctions, private and public sales, shows and exhibitions, as well as the most often prevailing prices at art galleries, dealers and retail outlets, or any other area where Fine Art might be traded. This report is similar to a verbal appraisal in the sense that it is appropriate for works of art intended for sale, and both verbal and written opinions follow the guidelines and requirements of the Uniform Standards of Professional Appraisal Practice (USPAP).
Authentication is the process of accurately identifying an object, and is important because of its potential impact on the value of the work of art being appraised. Art appraisers are often asked to appraise art objects with no guarantee of the item's authenticity. In some cases the owner of an object believes to know what they own, in other cases they hope the appraiser can help identify the object with the help of experts. Many owners or collectors of art wonder when and if they should have an artwork authenticated. For older works of art, where the provenance is not entirely clear, and where the dollar value may be high, it is advisable to have an authentication on record. As an appraiser, you cannot issue Certificates of Authenticity, but only help to determine the authenticity.
Fees are billed at either an hourly, daily, or flat rate, depending on the project. This guarantees that appraisals, as well as any information given, are always unbiased and constructed by facts. All payments will be due before delivery of appraisal or any other information. For a qoute, please contact Terri Vano by either email or telephone.