Services
Helen Frankenthaler, Weeping Crabapple, 2009, woodcut on paper
Art Appraisal
Know what it’s worth.
Reduce financial risk.
An appraisal can reduce risks such: as being over or under insured, inequitably dividing personal property as part of an estate, being audited when claiming a deduction for charitable contributions or filing estate taxes, or selling for too little/paying too much.
Appraisals conducted by Cheney Appraisal are unbiased and impartial. As an independent appraisal firm, we are objective, qualified and professional. Our goal is to minimize your financial risk.
Types of Art Appraisals
CHARITABLE DONATION APPRAISALS
are used to determine the appropriate amount for Federal tax deductions and are written in full accord with requirements of the Internal Revenue Service (IRS Form 8283) and Treasury Regulations.
INSURANCE APPRAISALS
are used to determine the correct coverage to carry on personal property policies to protect against fire, theft or other disasters. Insurance appraisals include written descriptions and photographs which facilitate claim settlements by providing detailed inventories and itemized replacement costs.
ESTATE TAX APPRAISALS
help the executor, accountant and attorney determine tax on the personal property of a taxable estate. Estate appraisals provide fair market values and are written in full accord with Federal Treasury Regulations and Internal Revenue Service guidelines.
EQUITABLE DISTRIBUTION APPRAISALS
designate appropriate values to ensure fair division of property in estates, divorces and business dissolutions.
DAMAGE AND LOSS APPRAISALS
determine replacement costs for claims settlements due to fire, flood, theft or other disasters. The appraisal report includes cost of restoration and any diminished value after restoration to determine the compensation due to the client.
RESALE APPRAISALS
are appropriate for those who want to sell their personal property. This type of appraisal estimates the marketable cash value for property sold at auction or by private negotiation through a dealer.
RELOCATION APPRAISALS
provide replacements costs required for scheduling valuables on your insurance policy before moving to support claims on any damages as result of the move.
Art Appraisal Process
Step
1
Let's chat
Our appraisal process starts with a conversation with you to determine the purpose of the appraisal and scope of the artwork you'd like us to appraise. We'll discuss your goals and any specific requirements you have, so we can provide you with the most accurate and relevant appraisal possible.
Step
2
Determine The Approach
Once we understand your needs, we'll determine the most appropriate approach for valuing your artwork. In most cases this will include looking at comparable pieces, analyzing market trends, researching the history and provenance of the artwork. We'll then provide you with an estimated fee based on the hours of work we anticipate to complete the assignment.
Step
3
Schedule An Onsite Inspection
After we've agreed on the approach, we'll schedule an onsite inspection to examine, measure, and photograph the artwork. This will give us a better understanding of its condition and help us identify any unique features that may affect its value. In some cases, we can work from your high resolution photographs - as long as we can ascertain details such as medium and condition.
Step
4
Research Comparable Pieces
After our onsite inspection, we'll research comparable pieces using selected academic resources, online databases, and auction prices, as well as exhibition and catalogue raisonnés. This will help us to determine the appropriate value of your artwork and provide you with a comprehensive appraisal report.
Step
5
Receive Your Appraisal Report
Finally, we'll provide you with a detailed appraisal report that includes a description of your artwork, its value, and all information compliant with Uniform Standards of Professional Practice (USPAP). We'll be available to answer any questions you have and provide additional guidance as needed.
Art Advisory
Buy and sell with confidence.
Our comprehensive understanding of the art market can provide purchase and sales services for a single object, collection or estate.
Buying
When starting a collection, we help you define, select, and buy art tailored to your unique aesthetic preferences and budget. You’ll benefit from our fine eye for art and superior knowledge of the market when acquiring or refining your collection. Rely on us to search out authentic quality works on the primary (dealer) and secondary (auction) markets. We provide advice on price, quality, and condition before you purchase so you can buy with confidence. Let us be your single point of contact – from researching prices to arranging all art handling, shipping, storage, insurance, and installation.
Selling and art liquidation services include the following:
Securing competitive proposals from different market sources
Comparative analysis of sales options
Negotiating dealer sales and preferential terms at auction
Managing estate liquidation and household clean-outs by determining disposition of all items
Collection Management
Organize and protect your valuables.
Know what you have and what it’s worth. We begin by ensuring your collection is properly inventoried so you may take a more strategic approach to managing all aspects of your art including acquisition, disposition, loans, display and conservation.
Cataloguing provides a documented inventory of your art objects and can be presented in a report or entered into a relational database, providing a digital archive that can be sorted and viewed for any purpose.
Condition assessments made through the inventory process include recommendations for art conservation treatment, proper storage solutions and framing.
Clients often request an insurance appraisal once the cataloguing is completed to protect their valuable art assets against damage or loss. Because markets can change quickly, insurance companies encourage collectors to have works reappraised periodically to make sure coverage is adequate.
For established collections we can help by conducting scholarly research on works of art, handling loan logistics and assisting with estate planning.
