ART APPRAISAL INFO
How to determine the value of your artwork
Art appraisals can be an important part of tax and estate planning, as well as a means of protecting one's art investment.
Art-Collecting.com has compiled a list of several professional organizations that specialize in art appraisals; they are membership organizations with high
professional standards and qualifications for membership. Please find them, below.
Major appraisal organizations require their members to adhere to a code of ethics, as well as to updated standards contained in a set of professional standards:
the "Uniform Standards of Professional Appraisal Practice." As we live in an uncertain world - and art values can change quickly - maintaining current appraisals
of one's art collection will help to fully protect it in the event of loss or damage.
Current art appraisals are also useful for potential insurance claims, sales of art, or for equitable distribution (of estate or trust assets, for instance).
Depending on the purpose for which the appraisal is sought, art appraisals can evaluate artworks at current fair market value (FMV), retail replacement value (RRV),
and Liquidation Value (LV). The Internal Revenue Service requires an appraisal for donations of property over a given amount.
American Society of Appraisers (ASA)
The American Society of Appraisers is an organization of appraisal professionals and others interested in the appraisal profession.
International in structure, it is self-supporting and independent. The oldest and only major appraisal organization representing all of
the disciplines of appraisal specialists, the society originated in 1936 and incorporated in 1952. Headquarters is in the Washington, D.C. area.
Appraisers Association of America (AAA)
The oldest Non-Profit professional association of personal property appraisers. Recognized authority
for setting appraisal standards, legal issues and regulation of the appraisal profession. Certified members provide appraisals for fine and decorative arts,
jewelry, and household contents.
Appraisal Foundation (AF)
The Appraisal Foundation, a not-for-profit educational organization dedicated to the advancement of professional
valuation, was established by the appraisal profession in the United States in 1987.
Since its inception, the Foundation has worked to foster professionalism in appraising.
Art Dealers Association of America Art Appraisals (ADAA)
For more than 45 years, the ADAA Appraisal Service has appraised works of art for tax purposes. The service has been used by collectors and museums to determine
the value of important works of art from old master paintings to contemporary art installations. ADAA appraisals have an outstanding acceptance record with the
IRS and are known for their professional quality.
The International Society of Appraisers (ISA)
Not-for-profit, member-driven association, formed to support our member needs and serve the public by producing highly qualified and ethical
appraisers who are recognized authorities in professional personal property appraising. Our members include many of the country's most respected
independent appraisers, consultants, estate liquidators, auctioneers, gallery owners, and dealers.
Private Art Dealers Association (PADA)
Is an organization of sixty established and respected dealers whose various fields of expertise range from Old Masters to
Contemporary Art. PADA has instituted its appraisal service to provide appraisals exclusively for accepted donations to
charitable organizations and for estate tax purposes. Individual attention is given to each work of art. Fees are very affordable
and appraisal costs are fully tax-deductible.
Where to Find an Art Appraiser
Professional Art Appraisers
This link will take you to our list of professional art appraisers.
Organized by states where the professionals are located and or work.
If you're an art appraiser and want to be included, click on the "How to be Listed" link,
located near the bottom of the page.
You can also find art appraisers through the websites of the appraiser organizations listed above on this page.
And many of the organizations include other kinds of useful information related to appraisals.
A good option if you're not located near an appraiser is online appraisals. This can sometimes be the most affordable way to get an appraisal.
Mutual Art (we recommend them) and
Value my Stuff are two companies for consideration and to look at.
Also for some self education, you might look at the
Chicago Appraisers Association.
Their website features numerous articles and a section on Frequently Asked Questions.
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