We provide the following types of services according to your individual needs –

Fine Art Appraisal Services – 

The types of personal property we appraise include –

Fine Art: paintings, sculptures, drawings, and works on paper.

Our goal as your accredited appraiser is to provide an independent and objective opinion of value based on our extensive research and professional expertise that will certainly meet your needs – and hopefully exceed your expectations!

The first step consists of a discussion between us to determine the scope of work and the nature of the appraisal you require. We will then send you a detailed estimate and contract agreement. Once that is established, we will make an appointment to come view the property to inventory, measure, and catalog your assets.

If it is not possible for us to physically inspect your artwork, emailing high quality digital images will suffice depending on certain conditions. We will then conduct the research in our office – the culmination of which, will be your final appraisal report. Depending on the number of assets, expect to have your report within three weeks from the inspection date. Tax related appraisals which are submitted to the IRS take more time so please allow four to six weeks for those reports.

“Rush” assignments will incur a 25% premium added to the total fee.

  • Insurance (RRV)

    Would you like to insure your fine art?

  • Damage and Loss (RRV)

    Has an artwork of yours been damaged or destroyed and you need an appraisal to give to your insurance company?

  • Estate (FMV)

    Would you like to bequeath your artwork to your family?

  • Donation (FMV)

    Are you in need of an appraisal for a tax deduction for a work that you would like to donate to a charitable organization?

  • Equitable Distribution (MCV)

    Needing help dividing assets in a divorce settlement?

  • Collection Management

    Personal property appraisers are generally called on during a crisis following one or more of the “Four D’s” (death, disaster, debt, and divorce). All of these occurrences are stressful and make it difficult to focus on organization. It is a good idea to arrange for your collection to be cataloged prior to such an event.

  • Visual Inventory

     A thorough walkthrough of your home documenting each room and its contents to store in a safe place off site in case of damage or disaster. It is effortless to report your missing or damaged assets to an insurance company if you have a visual inventory.

Art Advisory Services – 

Benefits of an Art Advisor –

  • Represent the Owner as their Agent to facilitate the sale of their high-end Artwork through a gallery or fine art auction house.
  • Knowledge of the best marketplace and sale venue to get the most exposure and thus, highest amount possible for their Artwork.
  • Skills to navigate the complexities of gallery and auction sales and negotiate the best terms for consigning the Owner’s Artwork.
  • Negotiate with the gallery or auction house proposing to waive the costs of shipping, insurance, marketing, and performance commissions to eliminate up-front fees.
  • Using decades of experience to guide the Owner through the entire experience from initial consignment through to the final sale of their Artwork.

Authentication – Appraisers specialize in valuation not authentication. We will appraise your work of art and should the need arise that you require authentication we will guide you through that process and connect you with the pertinent expert for your work’s particular genre.

Fees – Fees for appraisals are based on a standard hourly rate. There is a three-hour minimum for insurance appraisals and a four-hour minimum for tax-related appraisals. Total billable hours for your project will depend on the scope of work, the type of appraisal required, and the provenance information you provide prior to the research. Higher value artwork generally entails more extensive research which can take additional time.

A detailed estimate and separate contract agreement will be provided in advance. The signed agreement and deposit are required before on-site inspection of the artwork. The signed PDF of the final report will be sent to you via an encrypted file transfer system upon receipt of payment of the balance due.

Art Advisory Services are based on commission.

We accept checks, Zelle transfers, and credit cards.

Definitions of Value

(Source – Appraisers Association of America)

  • Retail Replacement Value (RRV)

    This is the highest value, usually for insurance purposes and is defined as the highest amount in terms of US dollars that would be required to replace a property with another of similar age, quality, origin, appearance, provenance and condition with reasonable length of time in the appropriate and relevant market. When applicable, sales and or import tax, commissions and or premiums are included in this amount.

  • Fair Market Value (FMV)

    Is usually for IRS purposes and is defined by IRS Section 1.170 and 20.2031(b) as “the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts.” According to Technical Advisory Memorandum 9235005 (May 27, 1992), fair market value should include the buyer’s premium.

  • Marketable Cash Value (MCV)

    This is a net value usually for equitable distribution, resale or estate planning purposes. It is defined as the net value a willing seller realizes after disposing of property in a competitive and open market to a willing buyer. Both the buyer and seller must be reasonably knowledgable of all relevant facts, and neither being under constraint to buy or sell. Marketable cash value takes into consideration insurance, dealer commissions, advertising, travel and shipping that may be involved in the sale

Let the beauty of what you love be what you do.

– Rumi 

© 2020 Aitchison Fine Art Advisory