Collections in Context - A Full Service Art Appraisal and Consulting Firm
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FAQs
 
Collections in Context is a full service firm offering clients appraisals that conform to standards required by the IRS, the legal community and insurance companies. Here are some helpful FAQs to guide you in selecting and arranging an appraisal of your art objects.  For a fuller description of appraisal FAQ's, visit the Appraisal Foundation, Washington, D.C. 
 
Q: What services does a Fine Arts appraisers offer?
A:  A  Fine Arts appraiser develops an unbiased, well-developed and documented estimate of the value of your art based on all available factors and according to several approaches to value including, market data comparison/anaylsis, cost-data approach or income approach. Most Personal property appraisers use the market data comparison approach to arrive at a value for your personal property.
 
Q: Why should I get a qualified appraisal for my art works?
 A.  At various times in your life, you may need a professional  estimate of value for your art works. You may need to make sure that your art is fully insured agnast any loss, damage or theft. Or, if you have to sell your art, you ought to make sure that you are not unselling your art, IF you are thinking of estate planning, you'll want an independent appraisal to determine the value of any art that is to be distributed among family members. Qualified, written appraisals are also necessary if you want to donate an object. The IRS requiers written, qualified appraisals for each object or groups of similar obects valued over $5,000. See our special page "Forms and Guides" for more information.
 
Q: What does an appraisal include?
A: Collections In Context will prepare a written report and provide you with a a PDF electronic version of the report. Each report is written according to the format of the Uniform Stadards of  Professional Appraisal Practice (USPAP) and each report contains a complete and accurate description of the obejct. It also includes the object's dimensions, its location, and an assessment of its condition. The report will provide the approimate date, the artist (if known) and other identfiying materials such as provenance or inscriptions and other historical documentation if available, along with a digital image. The appraisal report also includes a discussion recent comparables and  sales as well as an assessment of the importance of the art work. Finally, the report contains a statement by the appaiser that he or she has no financial interest in the property,  the appraiser's quaification, and the appraiser's signature.