Your art is an investment, just like your home and your assets. Natural disasters happen; art damaged due to flooding, fire, or environmental conditions might cost thousands or even millions of dollars out of pocket to replace if not properly insured. Appraisals need to be updated every 5 years or so. Updated appraisals affirm that the item/s are insured for the correct amount, show proof that the property exists or existed, prove the properties preexisting conditions in the event of loss, and facilitate claim settlement by providing a detailed inventory, description, and itemized replacement cost. This report is not intended to estimate the selling price on the open or auction market. But rather a retail replacement cost.
The Internal Revenue Service requires a certified appraisal for tax write-offs on donations valued at over $5000.00. The charitable donation appraisal objective is to determine the fair market value of the donated item/s at this date in time and within regional markets. The Internal Revenue Regulation defines fair market value for donated purposes as, “The price at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having a reasonable knowledge of the relevant facts”. In other words, it is the price that the property would sell for in the open market.
Understanding the current art market and various facets of art values is necessary when making decisions on how to distribute your assets fairly. The appraisal objective is to determine the fair market value of the item/s at this date in time and within regional markets. It is the price that the property would sell for in the open market.
Holly Hackwith has been appraising fine art for over 30 years, and is an accredited member of the International Society of Appraisers. She specializes in the appraisal of American and European paintings, sculptures, works on paper, business archives, antiques, household contents, documents and memorabilia.
Holly’s in-depth knowledge of business, personal property appraising, corporate art appraising and creative art consulting solutions makes her a force to be reckoned with. Over 33 years of direct sales experience, corporate art collection strategic planning, client art acquisition, accredited art appraisals and continual education have given her the tools she needs to solve tough problems and create satisfied clients.
An appraisal document with Holly Hackwith’s unbiased, independent opinion of value is accepted by all insurance companies, the Internal Revenue Service and courts of law. This type of appraisal constitutes an investment to ensure that your valuable objects are fully protected and accounted for.
Art and Personal Property Appraisals…………$150.00/hr
(antiques, documents, corporate document archives, historical memorabilia, household contents)
Appraisal Research & Report Fees.………………$150.00/hr
Travel time cost………………………………………..depends on location
Nationwide travel…………………………………………….depends on location
50% deposit is required upon contract signing.
Balance is due prior to digital delivery of the report.
Hard Copy Report Charge:
Report hard copies available at cost + shipping.
For Special Circumstances:
Lodging. . . . . . . . . . . . . . . . . . . . . . . . Current Rates
Court Fees ½ day minimum . . . . . . . . . $750.00
Trial preparation and testimony. . . . . . $150.00/hr
The cost of an appraisal includes the expertise and time needed to thoroughly: