No matter what your appraisal needs are, you are not alone. We are dedicated expert art appraisers, working exclusively for you. Our Art Appraisals are conducted by Chinese Art Expert with a Ph.D. in Chinese art. We commit ourselves to a thorough investigation of your art work, large or small, few or many. We aim at providing you with the best professional art consulting and appraisal services at a reasonable price.
Our Chinese art experts can help you meet your goals. We consider every art object an individual work of art. Our team of experts not only identify, document and evaluate your Chinese art work but also equip you with the knowledge of a trained specialist. Our appraisal report allows you to represent your art work with confidence.
Our Chinese art experts serve you with a set of special skills unmatched in the field. We read several major Asian languages (Chinese, Japanese, and Tibetan). We are art historians trained in the analysis of Chinese art, its context, and its authenticity. We investigate the inscriptions (title, inscriptions, signatures, seals, and marks) on your art work before we make any recommendations. We comment on the authenticity and marketablility of your art work with supporting evidence. Our expert's opinion and suggestions allow you to handle your Chinese art work from a position of strength.
We are independent scholars, art advisers and certified appraisers specializing in Chinese art and Tibetan art. Our art consulting and appraisal services are conducted in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP) and ethics rules developed by the Appraisal Foundation, a professional organization authorized by Congress as the source of appraisal standards and appraisal qualifications.
We have the highest qualifications. WEI YANG CHINESE ART is one of the few art consulting and appraisal services owned and operated by a specialist with a Ph.D in Chinese art and Tibetan Art. We limit our practice largely to the areas in which we are qualified, by dint of our Ph.D. and research experience.
We serve you with respect, honesty and integrity. We provide Chinese art consulting and appraisal services of the highest quality at an affordable price.
Why Art Appraisal?
Our Art Appraisal for iIsurance Coverage or Insurance Claim-Settlement provides you with the crucial information you need in working with insurance professionals. Every work of art is unique. A well-prepared value statement in an appraisal report will help you and your insurance agent take precautions to prevent or minimize loss. Our expertise, scholarly research on your object, and professional presentation of our value conclusion in our report help you and your insurance professional understand your art work and insure against its loss or damage wisely.
Our Consultation Appraisal for Acquisition (Purchase) equips you with the requisite knowledge of the sophisticated global art market. To begin with, inspiring works of Chinese art have an aesthetic quality and a history that are difficult even for Ph.D.’s to appreciate and explain. In addition, the art market is quite unlike the real estate market, in that it is mysterious, difficult to learn about, and subject to significant fluctuation. You can’t just look up the previous sales records for the object you wish to buy. These important pieces of knowledge, however, are provided in a professional art appraisal for acquisition. Our art experts (Ph.D.'s) are happy to serve as an extra pair of expert eyes on your behalf and help you build up a first-class art collection.
Our Consultation Appraisal for Disposition (Sale) prepared by our art specialists allows you to present your art object to an auction house, buyer, or a dealer with an expert's knowledge and confidence. We want to make sure you are not overwhelmed by auction house representatives or dealers who do not take the time to explain unfamiliar terminology from the world of Chinese aesthetics and the modern art market. A knowledgeable owner, educated about the object as well as how objects like it have fared on the market in the recent past, stands a much better chance of profit. We help you negotiate from a position of strength.
An expert art appraisal not only prepares you to deal with professional buyers, but also opens new opportunities. Many people assume that an auction house will always offer the best value for their object, but that is often not true. You need to understann adjusted value estimates, the calculation of insurance costs, fees for catalog illustrations, buy-back reserve fees, and other extra charges and conditions typically subtracted from the hammer price at auction sales. Our art experts will alert you to the potential issues relevant to your art work in clear language and help you think creatively about other options, including museum donation, gift to charity, and other measures that can help reduce your tax burden.
Our Art Appraisal for Charitable Contribution will help support your claims for charitable contributions. With IRS and state rules becoming more and more sophisticated, we try to help you understand the issues involved and be prepared in dealing with tax issues. It is always best to be prepared for questions before they are raised.
Our Appraisal for Pre-nuptial Agreements or Dissolution of Marriage will help you through complex situations. We will follow your instructions, act on your behalf, pay attention to details, and help you solve puzzles to the best of our ability.
Our Appraisal for Bankruptcy (Forced Liquidation, Orderly Liquidation or Salvage/Scrap) will allow you to stand firmly on your feet and make a strong and convincing case. We are among the most qualified Chinese art appraisers in the field and our opinions carry weight.
Who Needs Art Appraisal?
Owners Contemplating Sale -- Whether you have owned your Chinese art for decades or recently inherited it, an art appraisal will help you understand your piece, know its potential value, and make informed decisions about whether, when, and where to place it on the market. Our Chinese art appraisals offer in-depth analysis of how your Chinese art object will fare in the current Chinese art market--a fast-moving arena in which expert knowledge and advice are essential.
Parties Involved in Insurance Matters -- Both owners and insurance professionals need appraisals, whether obtaining insurance policies or making and adjudicating claims for damage or loss. If you have art objects (such as sculpture, paintings, prints, rare books, artifacts, antiques, or other collectibles), you should obtain a professional appraisal that accurately lists, describes and provides current retail replacement values for your personal property. A professional appraisal report may prove invaluable to you, your insurance providers, law enforcement officers, and your heirs in the event of accident, catastrophic loss, theft, or untimely death.
Individuals Executing Estate Distribution -- Should you be acting as executor or executrix for probate, planning your own estate, or seeking to distribute or liquidate inherited property, you should obtain a professional appraisal of the items under consideration. Such an appraisal is a legal requirement for the probation of certain estates. It will provide a descriptive listing and valuation for estate planning; it can also be relied upon as an impartial document to aid in the equitable distribution of assets among heirs.
Individuals Claiming Tax Deduction for Charitable Donation -- Gifts of art to museums or qualified organizations are an important way for institutions to expand and improve their collections. For the donor, such charitable contributions to qualifying institutions are tax deductible. A professional art appraisal report containing proper documentation, market research, and valuation will help assure that you, as a donor, receive full credit for your gift. Each art appraisal report is structured to comply with the requirements of the Internal Revenue Regulation Section 1.170A-13(c), the requirements of IRS Revenue Procedures 65-19 and 66-49, and all subsequent rulings. If IRS rules and formats are strictly followed, the tax advantages of museum and charitable donations can be significant and risk-free.
Chinese Art Collectors & Connoisseurs -- Many owners of Chinese art, old and new, whether paintings or carvings or other media, want to know more about their object but don't have access to professional help. Critical information, such as the content of inscriptions and seals on a painting, a mark at the bottom of a vase, identification of an artist, biography of the artist, rank of the artist among his equals, and the market appreciation for your artwork, may not be available to a layperson. Our Consultation Appraisal Report for Personal Appreciation addresses all the key issues relevant to your art or art collection. Our Chinese art appraisers are trained Chinese art historians, and we have the ability to provide you with all the information you need, including an up-to-date gauge of the market value of your piece. Our informative consultation appraisal will help you shape your art collection and improve the the quality of your collection as well.
We don't cut corners in our appraisal practice. All art appraisal reports are structured to comply with the principles, methodologies, and procedures for the evaluation of personal property as prescribed by the Certified Appraiser of Personal Property Program (CAPPP), and organized in accordance with the Uniform Standards of Professional Appraisal Practice developed by the Appraisal Foundation, a professional organization authorized by Congress as the source of appraisal standards and appraiser qualifications.
Appraisal for Insurance Coverage & Claim-Settlement
Why Do You Need An Art Appraisal for Insurance? The article entitled Protecting Your Prized Possessions (by Michelle Halsey, Antique & Collectible Trader, Spring 2008), tells you why you need an appraisal for insurance, when you need an appraisal, how to choose an insurance broker/company, how to understand the value of your art object, and the coverage considerations you need to know before you insure your art work.
Understanding Art Insurance
1. Homeowner's Insurance Policy might be ideal for those with antiques and collectibles worth a few thousand dollars. But a homeowners's policy has exclusions and deductibles. Art insurance companies usually adopt a Risk Prevention Strategy to protect against any risk, such as damage or loss.
2. A Specialty Policy has broader coverage. It involves different valuations (such as) aggregate, current value and loss limit values to underwrite a specific type of collection.
3. High-net-worth Coverage is favored by leading art insurance companies, such as Chubb, AIG Private Client Group, AXA Art Insurance, and Lloyd's of London, sepicializing in high-value art, antiques and collectibles.
4. The "Inland Marine" Coverage means the coverage of all types of losses, excluding acts of war, nuclear attack or government confiscation. This coverage might be ideal for those who plan to ship collectibles back and forth between homes in New York and Palm Beach, Florida.
5. Liability Insurance for Fabrication, Installation, and /or Exhibition of Works of Art that Are in Public Areas is designed to cover static works of visual art (sculptures, mainly) that are in areas accessible to the public.
6. A Valuable Policy is structured to supplement homeowner's coverage if you have valuables that exceed $10,000; Atlantic Mutual recommends considering this coverage.
7. Ownership Dispute Insurance is a title insurance policy structured to address the chair of title and lien risks inherent in art as a form of personal property. It is a "Single premium, indefinite term policy." In other words, you pay once and get protection for as long as you possess the art work.
Insurance Companies Specializing in Art
1. Chubb Group of Insurance Companies might be the right company for you if your valuables are worth more than $1,000 (per item) or more than $5,000 (entire collection). Chubb does not require an appraisal for every piece that you itemize. For most possessions, they need a description of the item and a value. However, Chubb requires an appraisl for fine arts worth more than $100,000, jewelry worth more than $50,000, and any other item valued over $25,000.
2. Atlantic Mutual focuses on serving the personal insurance needs of individuals with substantial assets to protect. The Valuable Policy at Atlantic Mutual says it offers broad coverage on a worldwide basis and carries no deductibles.
3. AXA Art Insurance Corporation distinguishes itself as the only insurance company specializing exclusively in fine arts and collectibles. It serves all clients, from the first-time collector to the most established collectors.
4. AIG American International Group, Inc. are considered world leaders in insurance and financial services. It has opertations in more than 130 countries and jurisdictions. AIG Private Client Group provides comprehensive insurance products and services to help meet the unique risk management needs of high net worth individuals.
Art Appraisal for Charitable Donation (IRS Rules)
We are not IRS agents, and not in a position to interpret the IRS rules and regulations. However, we can help you understand tax rules and regulations. We will assist you from beginning to end with diligence and care. The art appraisal report prepared by our Chinese art specialist satisfies the most up-to-date IRS requirements for charitable donations.
IRS Rules and Art Appraisal for Charitable Contributions (Information cited from IRS Publication 561, pp. 8-10):
"IRS requires an appraisal from a qualified appraiser if you claim a deduction of more than $5,000. If you claim a deduction of more than $500,000 for a donation of property, you must attach a qualified appraisal of the property to your return. If you do not attach the appraisal, you cannot deduct your contribution, unless your failure to attach the appraisal is due to reasonable cause and not to willful neglect. "
You must receive the qualifed appraisal before the due date, including extensions, of the return on which a charitable contribution deduction is first claimed for the donated property. If the deduction is first claimed on an amended return, the qualified appraisal must be received before the date on which the amended return is filed.
You need to attach Form 8283, Section B, to your tax return if you plan to claim a deduction. Generally, you don't need to attach the qualified appraisal itself, but you should keep a copy as long as it may be relevant under tax law. The appraiser must complete Form 8283, Section B, Part III on your behalf, including signing the qualified appraisal and Form 8283.
An appraisal must give all the facts on which to base an intelligent judgment of the value of the property. The weight given an appraisal depends on the completness of the report, the qualifications of the appraiser, and the appraiser's demonstrated knowledge of the donated property.
IRS Form 8283 for Noncash Charitable Contribution
IRS Publication 561: Determining the Value of Donated Property
IRS Publication 526: Charitable Contributions
We Specialize in All Media of Chinese Art and Tibetan Buddhist Art
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