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Disclaimer: Kuehnert Appraisal & Consulting is neither a tax consultancy nor a law firm, and accordingly, we do not offer tax or legal advice. This blog is intended to educate readers about some of the aspects of fineart and estate planning valuation.
GL-1, an appraiser is “one who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective.” As a personal property appraiser, my role encompasses tangible property including fineart, antiques, furniture, and collectibles. After the inspection starts the valuation process.
FineArt Prints vs. Reproductions By Noelle DeSantis and Sarah Kirk Hanley Have you ever wondered why two seemingly identical prints by the same artist can have vastly different price tags? Other Original Artwork Valuing other types of original works of art like paintings and drawings is a discussion for another time.
Limited-Edition FineArt Prints: Original Works of Art Counter to mass produced prints, limited-edition fineart prints are original works of art produced with direct involvement of the artist.
You do not need a formal written appraisal to sell most fineart. An impartial valuation can eliminate a lot of conflict with family members so they know what they have and can sell in the most appropriate marketplace. This critical step will help safeguard the donor to determine an accurate, fair market value.
Consult with a professional art conservator if its appropriate to add weather-resistant materials and protective coatings to prevent corrosion, fading, or structural weakening from exposure to rain, snow, and extreme heathowever, ensure that these coatings dont devalue the originality of the artwork or its naturally occurring patina.
If 2023 will be a time of downsizing, settling a loved one's estate, or if you simply need to obtain an updated appraisal for a fineart collection, Look Appraisal will be there to provide professional, qualified appraisal services. Don't delay! Don't delay! Schedule at your convenience through our online appointment calendar.
Presently, I hold the position of Gallery Manager at Island Art Galleries in Honolulu, Hawaii, where I am entrusted with overseeing a team of six FineArtconsultants. Their willingness to share their experiences, provide feedback, and offer guidance sets the educational experience provided by ASA apart.
Art Peritus recently sat down with Katja Zigerlig, Vice President, Art, Wine and Collectibles Advisory at Berkley One, a Berkley Company (WRB) to discuss the nuances of collecting and insuring FineArt. These types of valuations are not accepted. They don’t have the correct credentials. K: Yes indeed.
Whether you need a quick valuation for possible re-sale of your items, or you are looking for a more in-depth assessment for insurance or estate planning purposes, discovering a professional nearby is crucial. And most have networks of other appraisers, dealers, and other professionals they can consult. Market value determination.
Areas of interest include tax valuation issues and litigation support for appraisers from engagement to trial. In my current role as a FineArt and Collections Specialist at Chubb, I am deeply engaged in safeguarding collector clients' assets, ensuring both physical preservation and accurate valuation for insurance purposes.
A qualified art appraiser can provide an accurate valuation, which is crucial for claiming tax deductions and ensuring compliance with IRS regulations. Working closely with a qualified art appraiser and consulting with tax professionals can help donors comprehend the specific rules governing charitable contributions of art.
Three Insurance Experts Explain the Intricacies of Insuring Your Art Collection I am often asked by clients if they should cover their art under their homeowner’s insurance (HO) or if they should investigate insuring their art with a separate fineart collectors’ policy.
Consult with Experts:** If possible, seek advice from art experts, gallery owners, or dealers. Their insights can provide valuable perspectives on the current art market and the specific attributes that influence an artwork’s value. Choose a Qualified Appraiser:** Select a certified and experienced art appraiser.
We are art and furniture appraisers and consultants and have been brokering sales through auctions since the company’s inception. I would say about 80% of what we sell now falls in the decorative arts category and is considered historical material. You have just launched AP Selects, in early 2022.
ASA International Conference is the leading event for the global valuation profession. Ela | ASA, FineArts, MBA | President | Comprehensive Art Services, LLC Patrick Ela, ASA is the President of Comprehensive Art Services, LLC, and has 20 years of experience in valuing fineart.
Accurate Asset Valuation An appraisal provides an unbiased and expert opinion of the fair market value of your parent’s assets. Even if you are familiar with the items and believe you have a good understanding of their worth, a professional appraisal ensures an accurate and documented valuation.
This guide will help you determine if your artwork needs a professional valuation and why it matters. What Is an Art Appraisal? An art appraisal is a professional assessment of an artworks value based on factors such as the artist, condition, provenance, and current market trends.
The seminar opened with Casey Wigglesworth , Vice President of FineArt Insurance with Huntington T Block, who presented insights into fineart insurance for conservators. The FineArt Insurance policy offers coverage starting at $75,000, with careful consideration given to the potential maximum value of artwork.
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