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Value matters and an art appraisal completed by a qualified art appraiser can save you substantial money by not selling too low, insuring too low, or paying too much in estatetax or equitabledistribution. Curiosity and Documentation: Sometimes, obtaining an art appraisal is driven by personal curiosity.
The best way to determine what level of value you have in your own insurance policy is to pull out and read your policy documents or call up your insurance agent to confirm. Fair Market Value is also frequently encountered in equitabledistribution and family distribution appraisal reports.
Provenance, the documented history of an artwork’s ownership, is a cornerstone of art appraisal that adds layers of significance to the valuation process. Law enforcement agencies and art databases often rely on provenance documentation to identify and recover stolen art.
Today, with over 180 members, the ADAA has expanded its appraisal services from donation to also include estatetax, gift tax, and insurance. Fair Market Value is used when a collector is settling an estate, needing equitabledistribution, or making a charitable donation.
As an appraiser, my role is to provide an unbiased, well-researched valuation tailored to your specific needs, whether for insurance, estate planning, donation, or sale. A professional appraisal ensures you have accurate documentation for financial and legal purposes. It was purchased from a gallery, auction, or estate sale.
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