Avant-Garde

FINE ART & ESTATE APPRAISALS

Avant-Garde provides appraisals of fine art, specializing in Modern, Postwar and Contemporary art. We appraise paintings, prints, photographs, works on paper, sculpture, mixed media and more. Avant-Garde also provides generalist (Estate) appraisals of personal property, which includes furniture, decorative arts, and other household contents.

Whether you’re responsible for taxes on your late grandmother’s Estate, or insuring your art collection against damage or loss, Avant-Garde’s comprehensive reports will make sure you get the full value of your treasures. Our appraisals are compliant with the professional and ethical standards of the Uniform Standards in Professional Appraisal Practice (USPAP) and IRS requirements.

Avant-Garde appraises art and personal property for…

• Insurance against damage, loss or theft
• Damage & Loss for work damaged by flooding, fire, etc.
• Resale/Inventory
• Estate Tax Liability
• Gift Tax
• Charitable Donation to an institution or charity for tax purposes
• Equitable Distribution for divorce, inheritance distribution, etc.
• Collateral for loans, etc.

Not sure if you need an appraisal? Learn more about some of the occasions that call for an appraisal. And here’s some helpful terms and resources to help you make sense of it all!

CATALOGING & MANAGEMENT

Do you need an inventory of your art collection? Overwhelmed by all the stuff in grandma’s attic? We’ll roll up our sleeves and sort and catalogue your property so you can focus on the important stuff.

Avant-Garde will…

• Catalogue your art collection or personal property according to the Getty Institute object ID™ standards
• Provide bound and/or digitized illustrated inventories, itemized and organized according to the client’s needs
• Oversee the sale and distribution of property, as necessary

 

FINE ART ACQUISITION & DISPOSITION

Whether you’re starting a collection or need to clear some wall space, Avant-Garde art advisory is committed to providing you with a personalized experience, tailored to your needs and tastes.

If you’re looking to expand your collection, Avant-Garde will…

• Work with you and/or your decorator to determine the best approach to building the collection
• Research and analyze art market trends to make purchasing recommendations
• Broker the terms of sale to your best advantage
• Facilitate the logistics of transporting, framing, and installing work

If you’re looking to downsize your collection, Avant-Garde will…

• Research the primary and secondary markets to determine the best venue to take your artwork–including auction houses, dealerships, galleries, museums, or other charitable institutions
• Negotiate the terms of sale with each venue to your best advantage
• Facilitate the logistics of safely transporting the work to the venue

We believe art is for everybody—we can work with a range of budgets. Contact us for more information on how we can serve you!

PERSONAL PROPERTY & ESTATE DISPOSITION

Overwhelmed by the prospect of selling a household full of items? Leave it to us, you’ve got enough on your plate! With our intimate knowledge of the art, antiques and thrift markets, we’ll make sure you get the full value of your treasures.

Avant-Garde will…

• Sort and organize the property, from the furniture to the tchotchkes
• Research and identify the appropriate market and venues to sell your items
• Negotiate the terms of sale with each auction house, dealer, or other venue
• Facilitate the logistics of proper packing, shipping and transportation of your property to all venues

ESTATE ORGANIZING & CATALOGING

Who has the time to go through the junk in the attic, or organize the closets of china, stemware and silver? We’ll roll up our sleeves and sort and catalogue your property so you can focus on the important stuff.

Avant-Garde will…

• Catalogue all the personal property according to the Getty Institute object ID™ standards
• Provide bound and/or digitized illustrated inventories, itemized and organized according to the client’s needs
• Oversee the sale and distribution of property, as necessary

There are various life events that call for an appraisal. In many cases, it is required that the appraiser and appraisal be USPAP compliant (What is USPAP?). Here are just a few such occasions when it is required or advisable to get an appraisal of your personal property.*

INSURANCE COVERAGE

If you want to make sure your high-value art collection is covered by your insurance plan in the event of theft or damage, the insurance company will likely require an up-to-date appraisal of your scheduled property. It is advised to have an appraisal of your personal property done every three to five years to make sure the values are as current as possible.

DAMAGE AND/OR CONSERVATION

If you have damaged property due to an accident, fire, flood, or other disaster, you will need the services of a professional appraiser to determine the value before damage, the cost of conservation (if applicable), and the value after damage. The appraisal will help you decide if the cost of conservation is justified against the value of the art, and/or to support a claim to your insurance company.

CHARITABLE DONATION

If you donate personal property to qualifying charitable institutions, you can receive a tax deduction on your federal income tax. The IRS will require itemized deductions and, when applicable, a qualified appraisal to demonstrate the value of the property.

DEATH IN THE FAMILY

When a person passes away, the value of the Estate may be subject to federal taxes (colloquially referred to as the Estate tax or “death tax”) if the value of the property exceeds a certain amount. Depending on where you live, there may also be Estate or inheritance taxes due to the state. A qualified Estate appraisal is advised to demonstrate to the IRS and/or local governments that the Estate is or is not subject to the taxes.

Additionally, if the dispersal of property has not been specified in the decedent’s will, an appraisal of the full Estate is helpful for executors to fairly distribute property to heirs.

ESTATE PLANNING

Consider talking with your lawyer or accountant about how you can safely and legally minimize taxes on your Estate when you pass (see, for instance, the IRS’s Estate tax and gift tax information**). This will often include the need for professional appraisals of your assets and property.

GIFT TAX

As of 2019, you can gift up to $15,000 in value to someone in a given year without any tax penalty. But if your gift(s) to someone exceed $15,000 in value, you (the gift-giver) owe taxes on the dollar after $15,000 (e.g. if you give someone a gift worth $20,000, you owe gift taxes on $5,000). This gift would need to be declared to the IRS, with a qualified appraisal demonstrating its value for tax purposes. Note that unified credit can be used against gift and Estate tax; be sure to consult with a lawyer, accountant or financial planner about the best strategy for your gift-giving and tax-paying!

DIVORCE

When separating from your partner, an appraisal of your shared assets—which includes tangible property—will aid in the mutual and equitable distribution of your property.

DEBT

If you must leverage your personal property against any loans or debts, your lending institution will require an appraisal of your personal property to determine its collateral value against the loans.

*Avant-Garde Appraisals & Art Advisory LLC is NOT an accounting firm, legal firm nor financial advisory. This list is a general guideline; every client will have unique situations and special circumstances. It is the responsibility of the executor(s), taxpayer(s) and related parties to confer with his/her/their own attorneys, estate planners and/or financial advisors to review the legal and tax requirements of each situation that may call for an appraisal.

**This link does not imply a relationship to, or recognition, approval or sanction of Avant-Garde or its appraisers by the IRS; rather, the link is simply provided as a convenient mechanism for the taxpayer’s ease of reference. Furthermore, there is no marketing relationship between Avant-Garde nor its appraisers and the Internal Revenue Service.

Looking to spice up your company’s lunch ‘n learns? Need an art specialist’s insight for your panel? Emily loves sharing her knowledge and passion for art with others. Emily offers engaging and comprehensible lectures on a host of topics, including:

• The Art and Antiques Market
• Art Appraising
• The Benefits of Working with an Art Advisor
• Art and Spirituality
• Select Art History Topics (such as Avant-Garde Art, Modern Art, etc.)

Contact us to let us know how Emily may provide compelling content for you, your company or your community.