Insurance Appraisals are a very important part of owning art.

Appraisals enable the insured to have the correct amount of insurance coverage

Provide proof the property existed

Provide proof of the property’s pre-existing condition

Facilitate claims settlement

The IRS mandates that any charitable contribution of an item with a fair market value of more than $5,000.00 must have an appraisal by a "qualified appraiser" attached to your return, as well as the submission of IRS form 8283.

An appraisal can also be used in many other ways, including: Resale; Dividing property in a divorce or other family situation; Dividing property among heirs or beneficiaries; obtaining a loan

If the decedent owned at the time of death works of art or items with collectible value and if any one item or collection is valued at more than $3,000, then an appraisal by a qualified appraiser is required by the IRS