Knowing the true value of your artwork or collection ensures you are able to make informed decisions. Our clients benefit from professional guidance in bequeathing, buying, collecting, donating, selling and valuing fine art. Additionally, if you are looking to sell an Estate piece, we can provide guidance and estimates.
There are many reasons you may require an appraisal of your art:
Downsizing and Retirement Planning – When considering downsizing your home selling your collection is an effective way to create liquid assets and gives you confidence that you are making the right decisions.
Collection management - involves creating an inventory of collections with proper identification and documentation that includes photography of each piece.
Insurance Coverage & Claims – Is often a prerequisite for insurance coverage. An appraisal will minimize the risk of you not receiving the full value for your property while also ensuring you aren’t overpaying for coverage.
Curiosity - You maybe curious as to the value of the items that have been passed down to you through generations of the family?
Equitable Distribution; Divorce; Partnership Dissolution, Bankruptcy – ensuring a fair distribution of property.
Estate Planning – Knowing the true value of your art collection is important to help you plan for the eventual distribution of assets to your family.
Charitable Donation – When you donate property to a registered charity, you may qualify for a tax credit that will require a current appraisal.
Donation of Certified Cultural Property – Certified Cultural Property is described by Revenue Canada as a property of outstanding significance and national importance to Canada. Certified cultural property donations bring the greatest tax benefits, as they are not subject to capital gains tax.