Micaela is an Associate Candidate of the Appraisers Association of America (AAA) and Uniform Standards of Professional Appraisal Practice (USPAP) compliant through July 2027.
If there is uncertainty regarding appraisal needs, please don’t hesitate to get in touch!
INSURANCE COVERAGE
Insurance claims are based on the value stated in a policy, not the current market worth of the artwork. To ensure adequate coverage, collectors should regularly reassess their artworks' values due to fluctuations in the art market. An appraisal provides the necessary research and documentation for proper valuation on your policy. Regular updates, ideally every three years, are essential for protecting your art investment against damage or loss.
DAMAGE OR LOSS
In the event of damage or loss, appraisals help individuals and insurance companies facilitate claims and disputes by determining the appropriate percentage of loss in value for partial or total loss of artwork.
ESTATE MATTERS
Appraisals play a critical role in trust, estate, and tax planning, supporting the fair allocation of assets in cases such as divorce, partnership dissolution, or estate settlement. This process also helps establish a step-up in basis for a surviving spouse during estate administration.
ASSET PLANNING
Appraisals provide unbiased valuations that support informed decision-making when downsizing, selling assets, or evaluating an art collection. Such valuations ensure equitable distribution of assets, and for clients needing independent verification before a purchase or sale, a Restricted Appraisal is available. Designed for a single user, these appraisals maintain rigorous due diligence while offering simplified reports.
CHARITABLE DONATION
The IRS requires that non-cash charitable contributions over $5,000 be appraised by a “qualified appraiser.” These appraisals must follow specific guidelines, including the submission of IRS Form 8283, to qualify for a deduction. With proper planning and documentation, a charitable donation can further philanthropic goals while also enhancing financial and tax strategies.