Types of Appraisals

The appraisal process begins with understanding the kind of valuation you require. Insurance valuations can differ from potential sales values, or donation valuations, as can values assigned to works that are being assessed as part of an asset distribution, or for a damage claim. These values are not interchangeable and professional appraisal reports carefully describe and define the kind of value as well as the methodology and data used by the appraiser to ultimately assign valuations. I have significant experience in providing valuation services and appraisal reports for the following purposes:

• Insurance

• Charitable donation

• Estate planning

Getting Started

The appraisal process involves identifying, describing and valuing works of art for specific purposes. This requires the following steps:.

• On-site inspection: this takes place at the location of the works. Details of the works are noted and the pieces are photographed.

• Research: includes preparing detailed descriptions of the works, including information about the artists, historical data related to the works, exhibition histories and publication histories as available and, if required, market data relevant to the works.

• Valuation: values are assigned based on thorough market research, data accrual and professional analysis.

• Reporting: a final report is authored and issued electronically.

Karen Tallackson Bacon Fine Art Appraisals is committed to providing professional and ethical appraisals and advisory services to her clients. In all aspects of the business she is committed to ensuring her clients’ privacy.

Fees

Fees are based on an hourly rate. Clients are charged for on-site inspection, research, report authoring, and document preparation. (There may be additional expenses related to an appraisal assignment. These are agreed to by the client in advance of being incurred by the appraiser).

An estimate of fees is provided prior to the commencement of the project. A contract defining the scope of work and fee structure is provided to the client in advance of the start of the assignment. A deposit is due at the signing of the contract.

Fees for the brokerage of fine art are typically based on a an hourly rate, and/or a percentage of the sales price of the works.