Corporate Art Collections: Valuable Assets, Often Overlooked
While traditional investment vehicles are routinely monitored, corporate art collections rarely receive the same attention. They are often acquired, displayed or stored, and then their value, which can fluctuate significantly, isn’t revisited for many years or more, if ever. In working with corporate collections of varying sizes and complexity, I have observed a repeated pattern: […]
What is an IRS Qualified Appraiser?
If you’ve been researching appraisals for estate tax, charitable donation, gift tax, or another tax-related purpose, you’ve likely encountered the term “IRS qualified appraiser.” The IRS has specific requirements for who can prepare an appraisal for federal tax purposes, and you’ll want to be sure your appraiser meets these requirements. Why the IRS Has Its […]
What is USPAP and Why Does It Matter?
If you’ve ever hired an appraiser or started researching the process, you’ve probably come across the term USPAP. Here’s what it means, why it matters, and what to look for when hiring a qualified appraiser. Anyone Can Call Themselves a Personal Property Appraiser Unlike real estate appraisers, personal property appraisers are not licensed or regulated […]
Decoding Auction Results: Not Everything Is As It Seems
Some auction results can’t be trusted. For example, at the time this post was written, the top 8 past sale results from a LiveAuctioneers search for “Marvin Cone” are clearly fake (i.e. it is painfully obvious they are not original Marvin Cone paintings). Whether these works actually sold to unwitting buyers or if the sales […]
A Short History of the Buyer’s Premium
In light of recent news related to auction fees, here is a brief background on the buyer’s premium. The buyer’s premium was introduced in the 1970’s by Christie’s and Sotheby’s, as a 10% fee, charged to the buyer, on top of the hammer price. Some say it was introduced to help cover operating costs, while […]
What is an ISA Certified Appraiser of Personal Property?
When you see the designation ISA CAPP after an appraiser’s name, it identifies the highest level of credentialing offered by the International Society of Appraisers – Certified Appraiser of Personal Property. It is one of the most rigorous credentials available in the personal property appraisal field. Earning it requires passing multiple examinations, completing a minimum […]
Fair Market Value vs. Replacement Value
Why Does My Item Have Two Different Values? Fair Market Value vs. Replacement Value Explained If you’ve ever had an item appraised for both insurance and resale purposes, you may have been surprised to learn that the two values are often very different. This is not a mistake. It is not a sign that someone […]
Conducting Your Own Market Research
An appraiser’s role is not necessarily to determine whether something is “worth anything,” but rather to prove value in situations of consequence, such as reporting for the IRS, courts, or insurance documentation. These assignments require detailed, substantiated reports that establish value through verifiable transactional precedent. These reports can be time consuming and costly, and are […]
Why a Catalogue Raisonné Is Essential
What is a Catalogue Raisonné? You can’t simply Google an artist to see all of their known works. Works are often tucked away in private collections, unrecorded, or even undiscovered. This is why a catalogue raisonné is an invaluable resource. A catalogue raisonné is a comprehensive, meticulously researched publication of all known works by an artist to […]
