We have established a strong reputation for handling unique and complicated appraisal scenarios. Our team is continuously updating the options for traditional appraisal formats and working with industry colleagues, as well as financial advisors, accountants, and attorneys, to create new appraisal reporting opportunities.
Divorce and Division of Tangible Assets
We have a proven track record assisting collectors at times of divorce and/or division of tangible assets. As an appraisal firm with specialists in a wide range of objects, we handle all aspects of a client’s collection, from wine to collector cars and jewelry.
Often the most difficult aspect of divorce and division of assets is the organization of collection data. We understand the critical importance of this information, and will share data with our client in multiple reporting formats – with the option for different types of value, such as Fair Market Value and Marketable Cash Value.
Our appraisers are regularly called upon for expert testimony in cases ranging from divorce, damage and loss/insurance claims, collateral and family disputes. Should we be asked to testify, we will work with the client and their counsel under a separate contract and the client will be billed at an hourly rate for testimony, travel, deposition and/or counsel, including preparation time.
We work with clients’ accountants, wealth teams and counsel to prepare appraisals for unique ownership and planning scenarios. Fractional interest appraisals require multiple calculations around percent ownership, appraised value and use. All appraisals include comprehensive narratives and calculation charts that illustrate the breakdown of the market and value, based on the use of the appraisal.
Art Rental or Leaseback
As collectors and their financial advisors begin managing assets earlier and earlier, the rental leaseback scenario has become more prevalent. Should a collector not be ready to physically separate themselves from their tangible assets, rental leaseback becomes a significant option.
Our rental leaseback appraisals prepare rate calculations unique to the objects and collection, for a collector to rent back their assets after transfer. Like our fractional interest appraisals, all rental leaseback appraisals include comprehensive narratives and calculation charts that illustrate the breakdown of rental cost based on the current market, in relation to quality and types of objects in the collection.
Visual Inventory Services
In the event of a catastrophic event, theft or damage, the burden of proof is up to the owner to establish value and a complete inventory of what they own. This can be a challenging endeavor in retrospect, which is why our experienced appraisal team has developed a Visual Inventory product that can streamline the insurance claim process in the event of a loss.
Our team of seasoned Appraisal professionals will document and provide a photographic record of the residence, including the exterior, individual rooms, and all remaining contents. Significant assets determined to be over $50,000 in retail replacement value will be identified, and recommendations for individually documenting and appraising these items may be provided. The Visual Inventory is a high-resolution, professionally edited video of still images that is provided to the client via digital copy. The Visual Inventory is stored on file with The Fine Art Group in a backed-up, secure drive. In the event of a loss, The Fine Art Group will be able to quickly and efficiently provide the client with the price to replace the lost or damaged assets captured in the Visual Inventory.