LJG Art Appraisal/Research Services LLC
Here are several steps to ensure a successful appraisal.
1. During your initial call discuss with the appraiser your appraisal needs, whether you are updating or obtaining insurance for your artwork, have a loss or damage claim, are donating an object to a museum, non-profit organization, etc., are planning or settling a family member’s estate, are planning to sell or purchase a work of art, are settling a family division, or are needing research into authentication or conservation.
2. Be aware that for charitable donations (above $5,000), estate taxation (from $3,000 and above) and use of artwork as income an appraisal is required by the IRS. Find out the requirements of who is a Qualified Appraiser on the next tab.
3. Ask for the appraiser’s curriculum vitae. Note the appraiser’s specialty areas, education and work history. Be informed of the professional appraisal societies to which the appraiser belongs. The main appraisal societies are the International Society of Appraisers (ISA), the Appraisers Association of America (AAA), and the American Society of Appraisers (ASA). Each society’s website has a breakdown of designations. Note if the appraiser has education in the Uniform Standards of Professional Appraisal Practice (USPAP) and writes reports that conform to USPAP. All appraisers who are members of the above professional societies are required to follow USPAP, as well as the higher standards and codes of ethics that these societies set.
4. Ask about the appraiser’s fee structure. This may be an hourly fee or a by-project fee. It is against the standards of USPAP and the above professional appraisal societies’ codes of ethics to charge a percentage based upon the value determination of the artwork; therefore, an appraisal is charged the same irrespective of the appraised value outcome.
5. For your first appraisal meeting, have on hand any documents that specifically relate to the artwork that you are having appraised. These may include purchase receipts, articles or book entries that refer to the artwork, exhibition catalogues or other such exhibition history, auction catalogue entries, family letters, old appraisals/estate inventories/etc., conservation/restoration reports, names of family members from whom the work descended, or any other pertinent information.
6. If the artwork is hanging, in a dark room, or otherwise installed where it cannot be easily and fully inspected, place the artwork somewhere that is stable and accessible to the appraiser. If the artwork is larger than one person can handle in viewing all areas, consider having an art handler on hand.
7. During the onsite visit the appraiser will inspect the artwork, take complete measurements, take digital photographs, and review all documentation. If the artwork is framed behind glass, the appraiser will more than likely need to view it out of the frame. The appraiser may know how to handle the removal of such work from the frame or may suggest meeting at a frame shop where a framer can remove and reinstall the work for a small fee.
8. Appraisals are neither Certificates of Authenticity nor Certificates of Ownership.
9. When an educated guess is not good enough. Many times an appraiser may not know the value of an item off hand, and therefore, most appraisals require research.
10. If the appraisal is conveyed verbally, as per the client's request, good note taking or audio recording by the client is highly recommended.
1. During your initial call discuss with the appraiser your appraisal needs, whether you are updating or obtaining insurance for your artwork, have a loss or damage claim, are donating an object to a museum, non-profit organization, etc., are planning or settling a family member’s estate, are planning to sell or purchase a work of art, are settling a family division, or are needing research into authentication or conservation.
2. Be aware that for charitable donations (above $5,000), estate taxation (from $3,000 and above) and use of artwork as income an appraisal is required by the IRS. Find out the requirements of who is a Qualified Appraiser on the next tab.
3. Ask for the appraiser’s curriculum vitae. Note the appraiser’s specialty areas, education and work history. Be informed of the professional appraisal societies to which the appraiser belongs. The main appraisal societies are the International Society of Appraisers (ISA), the Appraisers Association of America (AAA), and the American Society of Appraisers (ASA). Each society’s website has a breakdown of designations. Note if the appraiser has education in the Uniform Standards of Professional Appraisal Practice (USPAP) and writes reports that conform to USPAP. All appraisers who are members of the above professional societies are required to follow USPAP, as well as the higher standards and codes of ethics that these societies set.
4. Ask about the appraiser’s fee structure. This may be an hourly fee or a by-project fee. It is against the standards of USPAP and the above professional appraisal societies’ codes of ethics to charge a percentage based upon the value determination of the artwork; therefore, an appraisal is charged the same irrespective of the appraised value outcome.
5. For your first appraisal meeting, have on hand any documents that specifically relate to the artwork that you are having appraised. These may include purchase receipts, articles or book entries that refer to the artwork, exhibition catalogues or other such exhibition history, auction catalogue entries, family letters, old appraisals/estate inventories/etc., conservation/restoration reports, names of family members from whom the work descended, or any other pertinent information.
6. If the artwork is hanging, in a dark room, or otherwise installed where it cannot be easily and fully inspected, place the artwork somewhere that is stable and accessible to the appraiser. If the artwork is larger than one person can handle in viewing all areas, consider having an art handler on hand.
7. During the onsite visit the appraiser will inspect the artwork, take complete measurements, take digital photographs, and review all documentation. If the artwork is framed behind glass, the appraiser will more than likely need to view it out of the frame. The appraiser may know how to handle the removal of such work from the frame or may suggest meeting at a frame shop where a framer can remove and reinstall the work for a small fee.
8. Appraisals are neither Certificates of Authenticity nor Certificates of Ownership.
9. When an educated guess is not good enough. Many times an appraiser may not know the value of an item off hand, and therefore, most appraisals require research.
10. If the appraisal is conveyed verbally, as per the client's request, good note taking or audio recording by the client is highly recommended.
