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Art Appraisal Services LLC offers
the following services:
-
Consultation
-
Inventory
-
Brokerage
- Miscellaneous
We offer Clients several optional
Consultation Types:
Studio Consultation:
For Clients who are
uncertain about what they have and whether or not it
warrants a formal appraisal, we offer studio consults at
local frame galleries (facilitating removal of the artwork
from the frame, if necessary). While the Client waits, we
will examine the work of art, research the artist (or type
of art if no signature can be found) in our
subscription-only art data bases, and offer an oral opinion
of value. The cost of a studio consult is $175 for the first
three works of art, and $150 per hour thereafter. If the
Client and appraiser determine that a formal appraisal is
warranted, $100 will apply towards the cost of a formal
appraisal.
Site Consultation:
We offer site
consultations for Clients who have more than a few items
which require a triage approach, sorting the artworks into
those which should be formally appraised, and those which
simple require an inventory listing. This is the usual first
step in an estate settlement and/or distribution appraisals,
divorce appraisals and insurance appraisals in anticipation
of a move, or simply as a precautionary measure. The cost of
a site consult within the city limits of Charlotte is $350
for the first hour, and $150 per hour thereafter, for the
services of one appraiser. If the Client lives beyond the
city limits, the cost is still $350/$150, but we charge
additionally for travel time and mileage at 58 cents per
mile. Generally, following a site consult, we return to the
office, do some preliminary research and send the Client a
proposal outlining which items should be appraised and what
the fee would be. A portion of the cost of the site consult
applies toward the final cost of the appraisal.
Formal
Appraisal:
Many
Clients are well aware of the caliber of artwork they own
and need formal appraisals for adequate insurance coverage
(updated every 5 years), non-cash charitable contributions,
estate settlement for tax purposes, etc. Because some
appraisals may demand far more time and research and
potential consultation with the experts on a certain
artist, appraisal fees are generally bases in a basic fee of
$150 per item after the initial fee of $450 for the first
item or group of works of art (e.g. several paintings by one
artist). The appraiser will notify the client it there are
extraneous circumstances and fees which may affect the cost
of the appraisal, particularly consultation with the expert
for a particular artist. When possible we estimate the
approximate cost of the appraisal prior to initiating the
project.
Inventory:
Can you remember everything
you own? In the event of loss, damage, or --
worst of all -- fire, none of us can remember all the stuff
we own: boxed in the attic, hanging in the closet, piled on
back shelves, hidden under the bed, neatly placed in drawers
-- but out of sight. Instead of trying to recreate a list
after the fact, why not develop a list right now. Our team
will come to your home and methodically photograph measure
and describe your possessions, from the great to the small.
Our descriptions are based on the Getty ID System which
requires more than simply “bed” or “table” or “collection of
flatware”. Every verbal description should contain enough
information that -- in the event of loss -- a qualified
appraiser or insurance adjuster can determine its value with
a fair degree of accuracy.
Benefits
of inventory:
-
You
have a record of all of your possessions. We give you a
paper report, in addition to two CDs, one for your safe
deposit box, and one for your insurance company.
-
If
you have receipts for the more valuable items, we can
include these in the report, establishing a basis of
value. Please note: An inventory is not an appraisal,
and we DO NOT provide estimates of value.
-
However, in the process of recording your possessions,
our expertise allows us to take note of those works of
art, decorative antiques, manuscripts, etc which SHOULD
be appraised. Depending on the type of insurance policy
you have, items with a replacement value (see types of
value) above $2,000 may require a formal appraisal and
scheduling to insure full compensation in the event of
loss.
-
With
your inventory, you can begin thinking about estate
planning: what are you going to DO with all this stuff
when you’re ready to downsize and move to the coast?
What does Janie want? Does Tom care?
-
Peace
of mind!
Brokerage:
Thanks to
a site consult, appraisal, or inventory by Art Appraisal
Services, LLC, you now know what you have. Now you want to
sell. How do you go about that? What is the appropriate
market for your treasure? EBay? Craig’s List? Auction?
Estate Sale? Private sale? Consignment through a gallery or
shop?
“Personal
property is commonly bought and sold in or at several market
levels depending on the quantity, quality and condition of
the property.” The three primary market levels are retail,
wholesale, and liquidation. Within each of these categories
are tiers representing the highest to the lowest levels of
that particular market. For example, at the retail level,
fine art is sold at galleries and antiques shops, but art
valued at $100,000 will be sold at high-end galleries, while
that charming but inexpensive 19th century landscape will
catch your eye in that wonderful antique shop on Main
Street, USA. The wholesale market level includes auction
houses, flea markets, estate sales, yard sales and plain old
bartering between a seller and a buyer. The best examples of
the tiers in this level are auction houses. Everyone has
heard of Sotheby’s and Christie’s, whose offices are in
every major capital city of the developed world. Only the
best art is sold through these houses. At the next level
down are top-notch houses which sell the best art also (if
they can get it), and very good art. Regional auction houses
sell the very good, and the fairly mediocre. However,
sometimes, the best place to sell the work of a regional
artist is at a regional auction house, where his name is
known. Likewise, local houses sell to a local market, and
they sell just about anything! A day spent at one of these
auctions -- regional or local -- is pure fun, and you’re
bound to pick up some real treasures for great prices!
The above
illustration is only the tip of the iceberg of the vast
selection of potential sales venues for your treasures. As
appraisers, we know the most appropriate and relevant market
in which to offer your property. Compensation for these
services is usually based on a modest and negotiable
commission.
Miscellaneous Services:
Through
our many contacts in the art world, we can advise you on the
condition of your art work, which can be a very important
factor in its evaluation. Maybe your print requires archival
matting and framing; or your oil-on-canvas painting requires
cleaning and re-stretching, or that frame needs re-gilding.
We are trained to look for these condition issues, and know
the experts who can restore your art work to “very good
condition”.
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