Fine Art Appraisal
A fine art appraisal is an official document containing complete descriptions and images of the works being appraised, an in-depth market analysis, and a value conclusion. The purpose of the appraisal dictates the specific market examined and the type of value provided. For example, a retail replacement value can be different than a fair market value for the same work of art.
When is an appraisal necessary?
Some situations that require an official appraisal report are:
- Making a charitable donation of a high-value artwork
- Insuring your collection
- Estate planning or inheritance
- Making an insurance claim when a work has been damaged or lost
Elise Arnoult Miller is an accredited appraiser with the Appraisers Association of America, and follows their standards of ethics and continuing education. Her reports are compliant with Uniform Standards of Professional Appraisal Practice (USPAP) and meet the standards of the IRS, legal professionals, and insurance companies.
What is the process?
First, the works are thoroughly examined, measured, and photographed. Extensive research is then performed using multiple resources, and a report is produced. Finally the client is presented with a bound report and multiple printed and digital copies of the appraisal.