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Appraisal Services

APPRAISAL PROCESS

APPRAISALS REPORTS

TYPES OF APPRAISALS

Appraisal Process

Having your collection of fine and decorative art or jewelry appraised with New York Fine Art Appraisers, is an easy, confidential, and seamless experience that provides you with an accurate and professional appraisal report tailored to meet your specific needs.

The hallmarks of NYFAA’s appraisal service include:
  • Offices in New York, Los Angeles, and Palm Beach, FL, servicing the United States and abroad
  • Articles examined on premises with the utmost care and sensitivity to client privacy
  • Online appraisals available for small collections and out-of-town property
  • Strict confidentiality and security measures in place
  • Full service in-house staff of appraisers, researchers, and client service specialists
  • Exclusive network of over 30 internationally recognized specialists
  • Cutting edge library of electronic and printed resources
  • Regular monitoring of appraised values and update notification
  • Full range of authentication, advisory and collection management services
  • Prompt turn-around time, with express service available
  • Fully insured
Appraisals Reports

NYFAA's highly accurate and detailed valuation follow the Uniform Standards of Professional Appraisal Practice (USPAP) format and the Code of Ethics mandated by all professional appraisal societies. Offered in all areas of the fine and decorative arts, our reports are accepted and highly regarded by insurance companies, courts of law and government agencies, including the Internal Revenue Service.

Each article is carefully examined on premises, thoroughly researched, fully catalogued and illustrated in accordance with the Object ID standards of the Getty Research Institute and the Art Loss Registry.

Appraisal reports are presented in a formal format, which includes:

The hallmarks of NYFAA’s appraisal service include:
  • Researched accurate retail replacement, fair market, or marketable cash values
  • Comprehensive digital imaging with documentary-style overviews and detailed high-resolution images of signatures, stamps and marks where appropriate
  • Full catalogue descriptions including provenance, authenticity verification, condition, literary citations, exhibition history, brief artist biographies and important related works (as available)
  • Client documentation such as invoices, certificates of authenticity, and condition reports, examined, correlated to each object, scanned, uploaded and filed for future reference
  • Valuation totals and cataloging organized by location, artist, or categories of your choice
  • Presentation as a traditional hard-bound report, secure electronic document, and web-based software database (as requested in advance)
  • Custom accession numbering to conform to any previous system, abbreviation or code adhering to the standards of the American Association of Museums
  • Number coded ID available for those who wish to maintain complete privacy
TYPES OF APPRAISALS

  • Estate Tax and Planning

    Our independent estate tax and estate planning appraisals are written to the high standards of the Uniform Standards of Professional Appraisal Practice (USPAP), the Appraisers Association of America (AAA) and the American Society of Appraisers (ASA). They are accepted and respected by federal and state government agencies and courts of law.

    Every year, the IRS Advisory Panel reviews hundreds of appraisals relating to estates and gifts. In 2012, the Panel recommended a net increase of 47% on taxed articles.

    NYFAA has an unsurpassed record of acceptance by the IRS Commissioner’s Art Advisory Panel, with over 500 appraisals submitted, representing over $100 million in aggregate value. All of our valuations have been upheld by the IRS.

    Our estate appraisals include correct identification and cataloging of artwork and personal property in over 30 specialty areas, color digital photographs created to meet to IRS specifications, and carefully researched Fair Market Values. This ensures a transparent and fully documented report that can be confidently submitted to government agencies.

    With additional services such as Sales Advisory, Financial Services, and Authentication, we can provide objective and experienced assistance when needed.

  • Insurance

    Our insurance appraisal reports, offered in over 30 categories of expertise, are accepted and respected globally by brokers and underwriters. NYFAA is a preferred appraisal provider for Chubb, Fireman's Fund, AXA Equitable, Chartis and Lloyds of London, amongst others. Reports strictly adhere to the Uniform Standards of Professional Appraisal Practice (USPAP).

    Each object is appraised on a current Retail Replacement Value basis, ensuring that should damage or a loss occur, fine and decorative art assets are protected by an upfront agreement with the insurance company.

    Objects are fully catalogued to internationally recognized Getty Object ID standards, organized by location and/or category, and digitally photographed to create an accurate record of your personal property as of the date of inspection.

    Please note that the Inland Marine Underwriters Association (IMUA) recommends that fine and decorative art be appraised every five years, or every two years for Modern and Contemporary Art.

    Appraisal packages that include ancillary services such as Authentication, Update Notification, Collection Management and Damage and Loss response, ensure 360-degree security for tangible assets.

  • Donation

    Our independent non-cash charitable contribution appraisals are written to the high standards of the Uniform Standards of Professional Appraisal Practice (USPAP), the Appraisers Association of America (AAA) and the American Society of Appraisers (ASA). They are accepted and respected by federal and state government agencies and courts of law.

    Every year, the IRS Art Advisory Panel reviews hundreds of appraisals relating to charitable donations. In 2012, the Panel recommended reductions of 52% on claimed values.

    NYFAA has an unsurpassed record of acceptance by the IRS Commissioner’s Art Advisory Panel, with over 500 appraisals submitted, representing over $100 million in aggregate value. All of our valuations have been upheld by the IRS.

    Reports include correct full cataloguing of artwork and personal property in over 30 areas of expertise, color digital photographs created to meet IRS specifications, and carefully researched Fair Market Values with comparables as required by the IRS. This ensures a transparent and fully documented report that can be confidently submitted in support of your donation.

    If an arrangement with an institution has not yet been finalized, NYFAA can assist with the development of proposals to suitable museums and non-profit organizations.

  • Online Appraisals

    For those clients with only a few pieces or located out of town, our online appraisals offer the quality and expertise of a NYFAA valuation, without an on-site examination.

    Appraisals can be issued on a Fair Market Value or Retail Replacement Value basis, depending on the intended use of the report, and will usually be acceptable for formal purposes.

    Our desktop appraisals are written to the high standards of the Uniform Standards of Professional Appraisal Practice (USPAP), the Appraisers Association of America (AAA) and the American Society of Appraisers (ASA). Each article is carefully catalogued and appraised, based on images and information provided to us using our appraisal submission form.

    NYFAA, as an independent appraisal firm with Senior Appraisers accredited by the American Society of Appraisers (ASA) and the Appraisers Association of America (AAA). Our appraisals are highly respected by top insurance companies, attorneys, estate and financial planners, accountants and auction houses. We offer appraisals in over 30 categories of expertise.

    With complimentary services such as Authentication, Update Notifications, and Sales Advisory, objects are given the same careful attention as those we personally examine.

  • Equitable Distribution

    Equitable Distribution reports serve to assist in the division of assets following dissolution of marriage, or other partnership, by providing non-biased, objective Fair Market Values for tangible assets.

    Our equitable distribution appraisal reports are written to the high standards of the Uniform Standards of Professional Appraisal Practice (USPAP), the Appraisers Association of America (AAA) and the American Society of Appraisers (ASA). They are accepted and respected by courts of law, federal and state government agencies.

    Reports, organized by location, artist, or category of your choice, include correct full cataloging of artwork and personal property in over 30 areas of expertise, color digital photographs, and carefully researched fair market or marketable cash values.

    Should court testimony be required, NYFAA provides professional, qualified and impartial litigation support and expert witness testimony for mediation, civil and criminal matters.

    With additional services such as Sales Advisory and Financial Services, we are able to provide objective and experienced assistance when needed.

  • Sale and Financial Planning

    Our objective and independent financial planning appraisal reports are critical tools for those considering the imminent or potential sale of tangible assets.

    Our formal reports are written to the high standards of the American Society of Appraisers (ASA) and the Appraisers Association of America (AAA), and are highly respected by top attorneys, estate and financial planners, accountants and auction houses. We offer appraisals in over 30 categories of expertise.

    Appraisals include carefully researched fair market values, correct cataloging of each article and color digital images, organized by location or category of your choice.

    For highly important works, an in-depth market overview and analysis of individual artworks and artists can be included to assist in the decision making process.

    With complimentary services such as Sales Advisory, Financial Services, and Authentication, we provide disinterested and experienced support when conducting negotiations regarding the disposal of fine and decorative art.

  • Damage and Loss

    Our damage and loss reports, offered in over 30 categories of expertise, are accepted and respected globally by insurance companies. NYFAA is a preferred appraisal provider for Chubb, Fireman's Fund, AXA Equitable, Chartis and Lloyds of London, amongst others. Reports strictly adhere to the Uniform Standards of Professional Appraisal Practice (USPAP).

    Each damaged article is carefully examined, correctly catalogued, digitally photographed, and appraised on a Pre-Loss Replacement Value basis as at the date of loss. In the event of a total loss or theft, valuation is based on available information and/or forensic reconstruction.

    With over 33 years of experience, NYFAA is uniquely qualified to direct conservation efforts with our exclusive network of preferred art service professionals, expediently manage the claims process, and determine diminution of value after conservation or restoration efforts are complete.

    Should court testimony be required, NYFAA provides professional, qualified and impartial litigation support and expert witness testimony for mediation, civil and criminal matters.