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Appraisal of artworks in collection and estate

Appraisal and evaluation of works of art and valuables in collection, household and estate is to be carried out in the case of division, divorce, inheritance, insurance, transport, pre-purchase and sale, collateralisation, collateral and damage. Furthermore the appraisal and evaluation is used for the personal appreciation of the works, and is used for inventory and documentation.

Appraisal of art and antiques
Art market

In principle, the art market regulates itself according to the supply and demand of an artist or a work. The distinction is made between the first art market (primary market), the direct distribution of an artist through galleries and trade fairs, and the second art market (secondary market), the auction and art trade.

Value-determining factors

In order to make a reliable statement about the value of a work of art, its value-determining factors must be considered. This contemplation questions and clarifies the meaning and presence of an artist or a work on the market.

The value-determining factors include amongst others:

Authenticity, artist, school, signature and dating, genre, technique, dimensions, motif, innovation, condition, market freshness, art- and cultural-historical significance, quality, provenance, restitution freedom, rarity, period of creation, characteristic and performance.

The so-called “eco system” of an artist – the environment that protects, promotes and markets him – is also considered.

 

Appraisal of Art and Antiques

A binding estimate can only be made, after the expert has personally examined the artwork. Alternatively, a non-committal estimate can be made by file.

 

Appraisal of company collections

Firmensammlung
Appraisal of company collections and larger convolutes.

Appraisals of company collections are needed for tax purposes or for the valuation of company assets. With a focused and efficient approach, even large collections can be researched and valued quickly but soundly.

Estate estimation and inheritance value of art, antiques and  furnishings

The distribution of inheritance, cases of inheritance dispute, compulsory portions and inheritance tax, require the determination of the value of the inheritance and estate.

The determination of the value of art, antiquities and furnishings in the distinguished household,  is a complex matter, which is often associated with great uncertainty for the heirs and contains strong potential for conflict.

A solid and comprehensible assessment by an impartial sworn expert, like myself, creates confidence, trust and clarity for all parties involved.

ESTATE INVENTORY

After personal examination by the expert, all relevant objects are identified, researched, evaluated and documented in an inventory list, which can be used to resolve the cases stated above.

VALUATION BASIS

The assessment is carried out according to the prevailing legal basis of the respective country.

Appraisal of inheritance and estate inventory

In Germany, the basis for inheritance valuation is the so called “common value” (fair market value) according to §9, Valuation Act.

(2) The “common value” is determined by the price to be obtained in the normal course of business, according to the nature of the asset in the case of a sale. All circumstances that influence the price, must be taken into account. Unusual or personal circumstances are not to be considered.

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Further information

Further information on valuation and appraisal can be found in the top menu under the items “Information” and “Service & Expertise” or by email at pracher@kunst-gutachter.de.

The German section contains more information on art related topics.

MP2017/2021