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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. You do not need a formal written appraisal to sell most fineart.
In my firm’s appraisal assignments, I’ve found that Retail Replacement Value is the main level of value used in fineart and antique insurance coverage. Fair Market Value is used in all appraisal reports for United States government federal functions such as non-cash charitable contributions for income tax deductions and estatetax.
Provenance, the documented history of an artwork’s ownership, is a cornerstone of art appraisal that adds layers of significance to the valuation process. In this blog post, we delve into the crucial role of provenance and its impact on the appraisal of fineart.
Submitting an inventory is a crucial step in the probate process, as it helps ensure that all of the decedent’s belongings are accounted for and distributed according to their wishes or state law.
If your insurance provider has asked you to get your artwork professionally appraised, or you need it evaluated for some other reason, How Do I Get My Art Appraised will help you find a qualified appraiser, fully understand all aspects of the appraisal process, and prepare you for what a professional fineart appraisal is likely to cost.
Estate Planning and Inheritance When artwork is part of an estate, appraisals help with fair distribution among heirs and can be required for estatetax filings. How to Get Your Artwork Appraised If you think you need an appraisal, the next step is to work with a qualified appraiser who specializes in fineart.
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