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Art Appraisal Report Explained


Our appraisal report follows the Uniform Standards of Professional Appraisal Practice (USPAP) adopted and promulgated by the Board of Standards of The Appraisers Foundation. We rigorously follow the Ethical Standards and Competency Requirements for Appraisal Practice established by The Appraisal Foundation. Every piece of critical information relevant to your artwork is thoroughly investigated and analyzed before we arrive at a value conclusion. Our research results are presented in a thorough, comprehensible, and objective manner.

How to Select from the Three Levels of Art Appraisal

Before selecting one of the three appraisals we offer (Restricted Use, Summary, and Self-Contained), you first identify your needs and consider your ultimate goals in commissioning an appraisal. The three options differ in the amount of detailed information provided and the intended use of the report.We aim to help you choose the kind of appraisal that works best for you.

The essential difference that separates the Restricted-Use and Summary appraisals from a Self-contained appraisals is the amount of information presented in the appraisal report. A Restricted-Use Appraisal"states" the basic information relevant to the subject property, serving art owners with a limited goal and modest budget. A Summary Appraisal "summarizes" important details in a concise manner, serving art owners with general appraisal needs such as insurance, sale, consultation, etc. A Self-Contained Appraisal "describes" the subject property and discusses its value conclusion in depth as compared with the other two options. IRS requires a Self-Contained appraisal for all charitable/tax-deductible donations. Serious art collectors benefit tremendously from the expertise and knowledge presesented in the appraisal report.

Remember, the scope of work for an assignment determines the appraisal cost. The more information you request, the more expensive the appraisal is. Thus, identifying your ultmate appraisal needs prior to commissioning an appraisa will certainly cut down the appraisal cost.

Contents of a Standard Appraisal Report

  • Cover Page
  • Table of Contents
  • Transmittal Letter
  • Intended Use & Type of Value
  • Inspection, Valuation & Appraisal Methodology
  • Scope of Work
  • Criteria for Qualitative Ranking
  • Property Identification
  • Discussion of Comparables (Information analyzed, methods and techniques employed, and the reasoning that supports the analyses, opinions, and conclusions.)
  • Value Conclusion
  • References Consulted
  • Market Observations (Appraiser's comments on the property and its marketability if relevant).
  • Privacy Statement
  • Limiting & Qualifying Condition (Statement of all conditions and their impact on a value conclusion.)
  • Certification of Appraiser
  • Appraiser's Qualifications
  • Glossary
A Self-Contained Appraisal Report (Level 3) prepared by Dr. Yang represents the gem of our professional services. In the form of an appraisal report, we help you understand your property, equip you with the knowledge of an expert, and assist you achieve your goals with confidence. Our customers have the incomparable advantage of our scholarly expertise. With a Ph.D. in Chinese art and Tibetan art (Northwestern University, IL 2005) and a M.A. in Asian Buddhist art (Smith College, MA, 1998), a certificate in Fine Arts and Decorative Arts appraisal and a designation of Accredited Senior Appraiser of Asian Art (American Society of Appraisers, U.S.), we possess the highest academic credentials unmatched in the field.

Our Asian Art Consulting & Appraisal Services

A well-composed art appraisal report helps you realize your vision in complete confirmity with the law. Our Asian art specialists are happy to discuss your object or collection and help you figure out your appraisal needs. If you still have questions after reading about the three levels of art appraisal, contact us and we'll be happy to help you analyze your needs. Remember, you don't have to be an expert about your art work before you approach us--otherwise you probably would not be seeking a professional appraisal in the first place!

We pledge to help you get what you need for your art work at the minimum cost. We provide art appraisals for owners of Asian art who need an appraisal for a wide range of purposes, including insurance, charitable contribution, estate distribution, dissolution of marriage, equitable distribution, pre-nuptial agreement, consultation for acqusition or disposition, and bankruptcy. We tailor our appraisal report to meet your specific needs. We provide you with the essential information, documentation, and tactical strategies you need to make informed decisions.

We pledge to serve you with respect, honesty, quality, expertise and professionalism.

Still have questions? Please Contact Us, or call us at (609) 688-6891.

 


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