Understanding the correct value of your art collection is important when it comes to making sound financial decisions for your future.
71% of Passion Assets, including fine art, are not included in wealth management portfolios, leaving potential wealth ignored and forgotten – 2017 Deloitte Art & Finance Report.
Art is more than mere attachment, understanding the value of your art is important so that you can secure peace of mind – both financial and personal for you and your family for years to come.
Basis for Tax Mitigation Strategies
Determining Portfolio Value
Key Financial Decisions
Types of Appraisals
Ensure you are covered for the correct amount, in the event you need to replace your collection
The IRS requires Fair Market Value to be determined so you pay the correct estate taxes
Compliance with IRS guidelines in order to have your donation accepted requires an expert appraisal report
Have a qualified appraisal done on art you intend to bequest. This will ensure correct valuation, to avoid future family feud
All our written reports conform with the most stringent industry standards and are fully compliant with the Appraisal Foundation's Uniform Standards of Professional Appraisal Practice (USPAP), as well as the requirements and standards of the International Society of Appraisers (ISA).
These standards regulate appraisal methodology, report development, and ethical conduct. Reports written to these standards are the highest in the industry, and are accepted by the IRS, insurance companies, museums and financial institutions.