DownSizing: Inventory/Sales/Donations
Down Sizing and Need Assistance with Your Collection?
Use an Art Appraisal Team with Years of Expertise.
Inventory
If you have an inventory, please provide a copy. An inventory should contain at least an image of each piece and all the relevant information, such as dimensions, technique, and the execution date—also, the conservation state. If any piece has been restored, you will need a conservation status as well as images of the specific area.
If you do not have an inventory, we can make one for you. Our fee is $150 per hour for onsite visits plus $ 100 per hour for computer work to finish the process and make the inventory document. Based on the number of pieces and the accessibility, we will give you an estimate to approve before the start. Typically, we take one hour to process between 4 and 5 pieces in the inventory, depending on the pieces’ size and accessibility. To make the final document, we take approximately one hour for 4 pieces in the inventory.
We suggest an inventory with light research; that way, you will get the information for all the pieces and market value. Please note that the market value can change from when we make the appraisal report if we do more in-depth research.
After the inventory is complete, we can meet and help you to decide what would be the best course of action: sales or donations.
Art Sales
Since we have amassed such a vast number of serious collectors in our network, it’s likely we have a collector that may be interested in your piece of artwork. We can assist you with the sale of the pieces.
Our Appraiser need to contact you after the data collection with questions about the pieces. We will make contact through phone or email.
Art Donations
Donation: depending on the value of the pieces. We can assist you with the process, suggest institutions depending on your preferences and interests, and represent you in the donation process, or assist you in preparing the necessary documentation. A donation, again depending on the value, will require a document with a proposal.
Values and donations
If the total value of the pieces is $500 or more, you will need an 8283 form.
If the total value of the pieces is $5,000 or less, an appraisal is optional but will need the 8283 form.
If the total value is more than $ 5,000, you will need an appraisal report and the 8283 form.
What is the 8283 form?
It is a form required by the IRS when you donate paintings, antiques, and other art objects for a value of $500 or more. The form should be signed by the receiving institution and a qualified appraiser.