Appraisal of artwork in collection and estate
Appraisal of Art and Antiquities
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.
In order to make a reliable statement about the value of a work of art, its value-defining criteria must be considered. This contemplation questions and clarifies the meaning and presence of an artist or a work on the market.
The value-defining criteria 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.
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.
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.
The assessment is carried out according to the prevailing legal basis of the respective country.
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.