Appraisal Services
APPRAISAL REPORT TYPES
Our appraisal services are based upon a code of ethics and deontology assuring quality, unbiased, trusted and reliable reports. As an active member of a professional appraisal association our appraisal reports adhere to the highest industry standards and are fully compliant with the Uniform Standards of Professional Appraisal Practice (USPAP) in addition to the strict requirements and ethical standards of the International Society of Appraisers (ISA).
USPAP is the recognized ethical and performance standard setting the benchmark for the appraisal profession in North America. It is relied upon by museums, attorneys, insurers, and government agencies such as the Canadian Cultural Property Export Review Board (CCPERB) and the Canada Revenue Agency.
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When donating property to registered charities, you may qualify for a tax credit. An accurate gift tax appraisal that determines the fair market value (FMV) of charitable contributions assist in the donation decision-making process.
Certified cultural property donations offer the greatest tax benefits, as they’re not subject to capital gains tax. For certification of cultural property the Canadian Cultural Property Export Review Board (CCPERB) require third-party appraisal reports that adhere to their specific strict guidelines. We provide appraisals for gift-in-kind donations as well as for cultural property certification, as they particularly adhere to CCPERB’s specific set of requirements.
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An appraisal report specifically tailored for insurance purposes will minimize risk of not receiving the full value for your fine art while ensuring you’re not overpaying for coverage. As values change, remember to update appraisal reports for insurance coverage every 3-5 years to ensure continued proper coverage.
A professional appraisal is also essential when handling insurance claims involving artworks for proper compensation. It accurately assesses damage, determines any loss in value, and supports fair settlements in an unbiased manner. Collaborating with conservators when needed, an expert appraisal ensures that claims and disputes are resolved effectively.
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ISA Accredited Members are recognized by the courts to provide expert testimony before judicial and quasi-judicial bodies. USPAP compliant appraisal reports and appraisal reviews ensure comprehensive and independent opinions trusted by legal professionals to help settle disputes.
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An equitable distribution appraisal ensures a fair and impartial distribution of property in cases of divorce, partnership dissolution, or bankruptcy. These detailed reports adhere to jurisdictional laws and are prepared for a court of law.
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Knowing the true value of your estate is essential for estate planning and understanding estate administration taxes. Estate appraisals assist with equitable distribution between heirs and assist in asset management and planning.
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There are other types of appraisal and valuation services we offer. Get in touch for more information regarding appraisals for collateral and loans, fractional appraisals, appraisal reviews and complimentary yearly reviews for market fluctuations.
While we also sometimes provide sales estimates, or approximations of value, these services are not considered formal appraisals and are for very limited purposes.
Why work with a professional credentialed appraiser?
In a self-regulated industry, engaging a qualified, credentialed fine art appraiser is essential to ensure accurate, unbiased valuations. Knowing the true value of your fine art assets empowers you to make informed financial decisions and protect your investments.
