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Appraisals are crucial in the art market, providing essential information about artworks' value, authenticity, and condition. Artwork Donation: Donating artwork to museums, galleries, or charitable organizations often requires an appraisal for tax purposes. It is estimated that 50% of the art in the market is fake.
Common types of appraisals include: Insurance Appraisals / Retail Replacement Value Appraisals Estate Appraisals CharitableDonation Appraisals Fair Market Value Appraisals / Financial Planning Antique Gold and Blue Enamel Bracelet , France. Sold for $2,500 via Doyle New York (February 2020).
This quote is in the context of IRS Publication 561, which provides guidance for determining fair market value for charitabledonations; therefore, this quote must be understood within that specific context and intended use. Descriptions/Identification (authentic, age, provenance, dimensions, etc.)
A skilled appraiser carefully studies the history, authenticity, and condition of each item to determine their worth. A professional appraiser is one who has received training and area certified in the accurate assessment of value, authenticity, condition, and other important aspects of antiques, fine art, and other personal property.
Fair Market Value is used when a collector is settling an estate, needing equitable distribution, or making a charitabledonation. What is the difference between an appraisal and an authentication and how does the appraiser appraise an artwork when they do not know if the artwork is authentic or not?
As a certified member of the International Society of Appraisers and the Authentic Tribal Art Dealers Association (ATADA), Maranda adheres to the highest professional standards in appraisal practices.
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