General Appraisal Procedure

 For Insurance Coverage – Loss – Resale – Estate – Division or Dissolution

95% of all art appraisals can be accomplished with your submitting a photo and a completed Profile Sheet for each item. Works of art with major questions of authenticity or extensive damage will usually require an on site inspection.

Our appraisal procedure is very simple.  Follow these steps:

1. Select and print the Appraisal Request form and then the appropriate profile sheet (below)  for your artwork. If unable to print, please call us at our toll free telephone # listed at the bottom of the page and we will mail them to you..

Profile Sheets

A. Paintings  also used for drawings, watercolors, mixed media or any other unique work of art.

B. Sculpture Covers all media of 3 dimensional works of art, including unique works or multiple editions.

C. Graphics  Covers all media of works on paper, including lithographs, etchings, engravings, woodcuts, photographs, etc.

2. Please fill in the appraisal request form and the Profile Sheet as completely as possible.

3. Attach a color photo of the artwork to the Profile Sheet.

4. If available, please include copies of any supportive documents such as receipts, certificates of authenticity, catalog and exhibition records, previous appraisals and provenance (history). Providing the appraiser with complete information will result in a more detailed and accurate final document.

NIA will generate 2 certified copies of the appraisal. All future updates and new acquisitions become a revision to the original document.

Due to the nature of today’s market, values are fluctuating dramatically. It is recommended that all works valued at $1,000.00 or more be updated every 2 years. The appraisal is an important financial document and must be kept current.

Once the initial appraisal is done, the client will be notified every 3 years, depending on your artwork, and given the opportunity to receive a new appraisal with updated values for a fraction of the original appraisal fee.

 


IRS Appraisal Procedure
For IRS Non Cash Charitable Contributions

In addition to the General Appraisal Procedures shown above, the following information is also required by the IRS.

1. The name and address of the charity receiving the donation
2. The date of the donation.
3. An 8″ x 10″ color photo of the artwork if the value exceeds $20,000.00 to be submitted to the IRS with your tax return.

The IRS appraisal must be completed and dated within 30 days before the date of your donation.

With your completed IRS appraisal, you should receive the forms required by the IRS to claim a deduction. (Form 8283)
(See donation Fee Schedule and Taxes & Art)

 


We are in the office to assist you 7 days a week from 8 a.m. to 6 p.m. Pacific Standard Time. Our Toll Free Number is 1-800-676-2148.

Click here to email us.   If the email link does not work then copy this email address into your mail program: niaart@aol.com