Each appraisal report is tailor-made for its intended use and the needs of the client. You will receive a full-color printed report plus one additional copy. Photos appear in the report next to the descriptions resembling an art catalog or book. Reports normally have one, two or three items per page depending on value and number of items in the report. Each item or groups of similar items is described sufficiently for its type. Individual items valued over $20,000 will include one or more pages of information and one or more full page photos. Donation reports will include form 8283 as required by the IRS.
- ESTATE: Asset distribution, fair market values, estate planning, tax returns
- DONATION: Tax deduction, or part of estate planning
- INSURANCE: Retail (full market value) replacement cost for your insurance
- DIVISION OF PROPERTY: Equitable distribution of property for multiple persons
- LOSS OR DAMAGE: Market value, damage assessment, restoration costs
- MARKET VALUE: Determine fair market value for purchase or sale of artwork
Fees for Appraisals
Fees for appraisal reports are billed at an hourly rate, not on a percentage of value. The current rate is $300 per hour, with a minimum of $900. Appraisal fees for reports used for tax purposes are often deductible, consult your accountant.
Each report has a unique number of items and complexity of research and methodology. An estimate will be made upon learning details of the nature of the report, number of items to be appraised and the amount of information you already have. A very rough estimate is that it takes 20 to 30 minutes per item, from start to finish. Please feel free to contact us for a more accurate estimate for a report to meet your specific needs or to see if your items are of sufficient value to warrant a qualified appraisal report.