Appraisals
Whether you want to donate your artwork to a museum and need to know its value for tax purposes or seek to protect your investment in the event you must replace or list it as a loss, you will need an up-to-date appraisal. In this volatile market, it is important to obtain current information on value to ensure you receive appropriate tax benefits and insurance compensation. Austin Morrissey provides this service according to the highest ethical standards and in a timely and comprehensive fashion.
What are our qualifications?
The most knowledgeable appraisers of personal property are those with long-term experience in their respective markets. Our principals and associates have more than 30 years experience as experts in the contemporary fine art market as well as in the legal world, which ensures that our appraisals accurately reflect the most current information available as well as meet the demands of tax and estate laws.
Our combined experience as advisors to collectors and our comprehension of how legal issues may affect the value and disposition of artwork ensures that our clients receive the best information possible in order to make informed decisions about their fine art assets.
To what professional associations do we belong?
American Society of Appraisers, which has a stringent set of criteria for membership, including required classes and examinations, approved appraisal methodology, and peer review.
International Association of Professional Art Advisors
Urban Land Institute
Florida Bar Association
Probate and Guardianship Section, Dade County Bar Association
National Member of the Order of Barristers
Spellman-Hoeveler American Inn of Court
Omicron Delta Kappa, national leadership honor society, University of Miami School of Law
Society of Bar & Gavel
What is the appraisal process?
Our first action is to determine your specific appraisal needs, whether for insurance purposes, replacement, tax and estate planning, liquidation or charitable donation. From there, we create a letter of engagement outlining our responsibilities and fee schedule. We inspect and photograph the artwork, research the history of ownership, and investigate comparable values at auction and in private sales. We then provide a comprehensive report created in accordance with ASA standards.
How do we work with consultants?
If we determine that a work of art falls outside our customary area of expertise, we hire reputable appraisers or art consultants in other fields to help us with our valuations. This may include hiring experts to help ascertain authenticity, work with conservators on condition issues, or assist in areas outside of 20th century art. These consultants are paid apart from our agreed-upon fee arrangements, and will be hired by mutual consent.