Fine Art Appraisal
Soltesz Fine Art creates accurate and detailed appraisal documents that adhere to the Uniform Standards of Professional Appraisal Practice (USPAP). Whether you are seeking an art appraisal for insurance coverage, potential sale of a work, charitable contributions, dissolution of marriage, settlement of an estate or to establish damage or loss, Soltesz Fine Art can assist you.
Soltesz Fine Art offers fine art appraisal services in the Portland, OR area as well as Park City, UT and Salt Lake City, UT. Please contact us to discuss your specific appraisal needs.
What is an art appraisal?
An appraisal is an unbiased opinion of value formed by accurately identifying the object and researching and analyzing the appropriate market. The value conclusion is substantiated by current market comparables and is documented in an appraisal report.
What makes a qualified art appraiser?
There is no state or federal licensing for personal property appraisers. Appraisers therefore distinguish themselves through professional appraisal organizations, such as the American Society of Appraisers (ASA). All qualified appraisers must adhere to the Uniform Standards of Professional Appraisal Practice (USPAP).
What is USPAP?
USPAP is the Uniform Standards of Profession Appraisal Practice created by The Appraisal Foundation in 1987. As stated by the Appraisal Foundation, "USPAP are the generally accepted standards for professional appraisal practice in North America. USPAP contains standards for all types of appraisal services..." USPAP was created to serve as a guideline for appraisers to maintain and practice the highest level of valuation consulting services and to provide the public with the means to measure competence and compliance with professional standards. All appraisal reports must include a signed and dated certification that these USPAP requirements have been fulfilled. Appraisers are required to take the 15 hour USPAP course and be re-examined every 5 years.
What is the appraisal process?
Soltesz Fine Art starts the appraisal process by asking the purpose for which the appraisal is required, insurance coverage, sale of the art, etc... The appraiser will then do a complete examination of each work to be appraised. At this point any information you have regarding your art, such as invoices, past appraisals or any other pertinent information regarding the work should be made available to the appraiser. This is followed by extensive research and market analysis to ultimately establish an opinion of value. All of this information will be recorded in an appraisal document and delivered to the client upon the completion of the assignment.
What is contained in an appraisal document?
An appraisal report is a multi-page document clearly stating value for a given work. At minimum, a report should contain the following: effective date of appraisal, client and appraiser name, intended use and users, type of value, scope of work, property identification, photographs, value conclusion, privacy statement, USPAP certification and appraiser's signature.
How frequently should your artwork be appraised?
It is recommended to have your artwork appraised every 5 years to make sure the market data is current.
Do you authenticate artwork?
Appraisers are valuers not authenticators. The artist that created the work is the only true authenticator; if they are no longer living then one must depend on known and respected experts for the particular artist.
Time Frame & Fees
Delivery time for an appraisal report will vary per case and is dependent on the size of the collection and its contents.
Fees are based on an hourly rate or an agreed upon flat rate. Fees are never based on a percentage of the appraised value of the work. Contact us for our most current fee schedule.