Value happens here.
We are art valuation experts.
Art Asset Management Group creates accurate and detailed appraisal documents that adhere to the Uniform Standards of Professional Appraisal Practice (USPAP). Whether you are seeking an appraisal for insurance coverage, potential sale of a work, charitable contributions, estate planning, dissolution of marriage, or to establish damage or loss, AAMG will guide you through the process. Learn more about our valuable services below.
Appraisal Services
Appraisals are unbiased opinions 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. An appraisal report is a written statement of an artwork’s value and is considered legally binding. In the United States, such a report may be subject to legal supervision by the local jurisdiction in which it is issued. Appraisals can be prepared for estate attorneys, financial advisors, insurance companies, museums, and private and corporate collectors. All appraisals are prepared in accordance with the current Uniform Standards for Professional Appraisal Practice (USPAP) and Internal Revenue Service regulations. All reports are confidential and are not released to any party without the express permission of the client. AAMG is an Accredited Fine art appraisal firm specializing in Modern and Contemporary art. We are accredited at the senior level and USPAP (Uniform Standards of Professional Appraisal Practice) compliant (2022-2023).
Appraisal reports cover the needs and purposes of the following:
Insurance
Retail replacement value appraisals for art collectors, brokers, and insurance companies.
Damage and loss appraisals to determine whether a damaged artwork merits conservation, restoration, or sale, and assist in settling claims and disputes.
Art values can change quickly and insurance coverage should be current - approximately every three years is advisable- to insure proper coverage in the event of damage or loss.
Estate
Fair market value appraisals for estate planning and settlement; to facilitate decision-making as it pertains to the equitable division of an art collection among heirs and beneficiaries. This reporting relied upon by executors, attorneys, accountants and the IRS to determine potential estate tax liability.
Donations
Fair market value appraisals of artworks estimated above $5,000.00 earmarked for donation to non-profit 501(c)3 cultural institutions. These reports contain specific information including documentation of the appropriateness of the donation, thereby substantiating the tax deduction.
Planning
Evaluations to make informed decisions for the purposes of collection management and potential resale.
Art Legacy Planning
Guide and advise clients in creating a plan to donate art to an institution or sell art assets, household contents for trusts and estate planning. Whether a client is looking to downsize and sell their assets or would simply like to know what their art is worth, an appraisal provides an objective assessment with which to make decisions regarding their personal property. Appraisals for estate planning assists clients with understanding the value of their assets so that they can make informed decisions about their future plans. This knowledge can be utilized for decisions regarding gifting, donation and equitable distribution of assets.
Art Consulting
We have 40+ years of experience in fine art consulting. At AAMG, we work with collectors of all levels, helping to build both private and corporate art collections.
As experts in the development of public art projects, we conduct and oversee complex artist commissions, contracts, fabrication, installation, maintenance, marketing and public relations. Specializing in large-scale public art projects, we are available to appraise and consult on public art projects of all scales. Please note that we do not offer artist representation at this time.
Private Collections
Private Residential Art Advisory Services – Art market research, curated presentations based on client’s individual tastes and budget, negotiating final price with vendors, galleries, auction houses and payment terms, custom framing, shipping and installations. Collection management services including creating a private collection database or catalog; USPAP certified fine art insurance, retail replacement, fair market value and charitable donation fine art appraisals.
Corporate Acquisitions & Collection Management
Corporate Art Consulting – Cohesive corporate art program development, selection and procurement for innovation-driven work place environments, think large scale lobbies designed for technology, entertainment, creative, and digital media building tenants.
Public Art Projects
Percent for Public Art Project Management – Master planning and project management, community outreach programming, government agency process, management and curatorial policies, community development and consensus building, artist selection, contract negotiation, project schedule, design and fabrication, budgetary oversight, implementation and installation.
Value Added Services
Art Education 101
Research
Insurance Coverage
Donation Documentation
Resale Advisory
Loss and Damage Prevention/Mitigation
Provenance Research
Frequently Asked Questions
Do you authenticate art?
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.
How often should my art be appraised?
It is recommended to have your artwork appraised every 5 years to ensure the market data is current.
What is the 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 periodically.
