APPRAISAL SERVICES
Fine Art & Personal Property Appraisals
Independent, Defensible Appraisals of Paintings, Antiques, Furniture, Decorative Art and All Residential Contents for Insurance, Estates, Tax Reporting, Charitable Contributions, Divorce, Financial Matters & Other Valuation Needs
An appraisal is more than an opinion of value.
When prepared correctly, it is an independent, well-researched document that supports important financial, legal, insurance, tax, and estate decisions. Whether an appraisal is needed to establish appropriate insurance coverage, administer an estate, support a charitable contribution, divide property, evaluate collateral, or address another valuation need, the conclusions should be based on appropriate market research, recognized appraisal methodology, and clear supporting documentation. Roth | Escher Art Group prepares fine art and personal property appraisal reports that are objective, impartial, unbiased, and appropriate to the intended use of the assignment. Our appraisers combine decades of experience, Accredited Senior Appraiser (ASA) credentials, advanced academic expertise, and extensive market research to develop professionally supported conclusions of value.
When Is an Appraisal Needed?
There are many reasons a professional appraisal may be required. An insurance advisor may request updated values to establish appropriate coverage. An attorney, executor, trustee, or fiduciary may require an appraisal for estate administration, probate, or tax reporting. A financial institution may need an independent valuation for collateral purposes. A family may have inherited artwork or personal property and need to understand what the collection contains and what it is worth. Other assignments arise from charitable contributions, divorce, damage or loss, bankruptcy, litigation, estate planning, and the administration of artists' estates.
Whatever the circumstances, the objective is the same:
To provide an accurate, objective, and well-supported opinion of value appropriate to the intended use of the appraisal.
Roth | Escher appraisal reports are built upon:
Independent, objective, impartial, and unbiased analysis
Accurate identification and documentation of property
Extensive market research
Relevant comparable sales analysis
Appropriate market selection
Current or historically relevant market conditions
Professional appraisal methodology
Clear supporting documentation
Professional judgment
An appropriate definition of value for the intended use
Why a Professional Appraisal Matters
Not every valuation provides the same level of support.
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Purchase receipts, auction estimates, online asking prices, sales platforms, and informal opinions may provide information about an object, but they do not necessarily constitute a professional appraisal appropriate for use by an insurer, attorney, fiduciary, financial institution, court, or tax authority.
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A professionally prepared appraisal requires the appraiser to first identify the appraisal problem and then conduct the research and analysis necessary to develop a supported conclusion.
The result is a clearly documented, well-supported appraisal report appropriate to the purpose for which it was prepared.
The Purpose of the Appraisal Determines the Approach
One of the most important principles in professional appraisal practice is that an object does not have one universal value for every circumstance. The appropriate definition of value depends upon the intended use of the appraisal. For example, an appraisal prepared to establish insurance coverage may require a form of Replacement Value, while an estate tax, charitable contribution, or equitable distribution assignment may require Fair Market Value. Those values answer different questions. The effective date may also differ. Some assignments require a current value, while others require an opinion of value as of a specific historical date.
Before beginning an assignment, Roth | Escher establishes the appraisal problem, including:
The property being appraised
Intended use
Relevant market
The client
Appropriate definition of value
Scope of work
Intended users
Effective date
Reporting requirements
Defining these elements correctly is fundamental to developing a credible appraisal.
What We Appraise
Roth | Escher provides appraisal expertise across a broad range of fine art, antiques, decorative arts, and personal property.
Fine Art
— Paintings
— Sculpture
— Works on Paper
— Prints
— Photography
— New Media
— Other Fine Art
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Antiques & Decorative Arts
— Antique & Modern Furniture
— Ceramics
— Glass Art
— Silver
— Crystal
— Lighting
— Textiles
— Decorative Objects
Personal Property & Collections
— Residential Household Contents
— Collectibles
— Heirlooms
— Furnishings
— Private Collections
— Corporate Collections
— Institutional Collections
— Artists' Estates & Archives
Assignments may involve a single significant object, the contents of a residence, or a complex collection containing hundreds or thousands of works. When specialized expertise beyond our team's areas of specialization is required, we can identify and coordinate with appropriate qualified specialists through our professional network.
Types of Appraisals We Provide
Different valuation needs require different appraisal approaches.
Insurance Appraisals
An up-to-date insurance appraisal documents fine art and personal property and establishes the appropriate Replacement Value for insurance coverage. ​ Current appraisal documentation can help collectors and insurance professionals determine appropriate coverage and provide important information if property is later damaged, stolen, or lost.
Estate Tax & Probate Appraisals
Estate administration may require independent Fair Market Value appraisals of fine art and personal property for probate, estate tax reporting, trust administration, or related purposes. ​ Roth | Escher works with executors, trustees, attorneys, accountants, fiduciaries, and families to prepare thoroughly researched and professionally documented estate appraisals.
Charitable Contribution & Donation Appraisals
Qualified appraisals may be required to support federal income tax deductions for charitable contributions of fine art and other personal property. Roth | Escher prepares charitable contribution appraisals with attention to applicable IRS appraisal and reporting requirements, providing the valuation analysis and documentation appropriate to the assignment.
Bankruptcy Appraisals
Bankruptcy matters involving fine art and valuable personal property may require independent valuation for financial reporting, asset documentation, legal proceedings, or other purposes. The appropriate definition of value and valuation methodology depend upon the intended use and circumstances of the assignment.
Artists' Estate Appraisals
Artists' estates present specialized valuation issues, particularly when an estate contains hundreds or thousands of works by a single artist. Roth | Escher has experience valuing artists' estates and substantial bodies of unsold work, including the application of blockage analysis when appropriate to the assignment.
Damage & Loss Appraisals
When fine art or personal property has been damaged, destroyed, stolen, or otherwise lost, specialized appraisal analysis may be required to understand the resulting financial impact. ​ Depending on the assignment, this may involve pre-loss value, post-damage value, condition, conservation, restoration, diminution in value, or documentation of property that is no longer available for examination.
Estate Planning Appraisals
Fine art, antiques, collectibles, and other valuable personal property can represent a significant component of an estate. Current valuations provide attorneys, financial advisors, fiduciaries, and families with information that can support estate planning, trust management, gifting, distribution, and other long-term decisions.
Divorce & Equitable Distribution Appraisals
The division of valuable personal property requires objective, impartial, and unbiased valuation. We work with individuals, family law attorneys, mediators, and other professional advisors to establish professionally supported opinions of value for artwork, antiques, furnishings, and other significant personal property involved in divorce and equitable distribution.
Collateral Valuations
Fine art and other valuable personal property may be considered as collateral in secured lending and other financial transactions. Roth | Escher provides independent valuations supported by object-specific research, relevant market evidence, and professional appraisal methodology for lenders, borrowers, private banks, wealth advisors, fiduciaries, and other intended users.
Expert Witness, Appraisal Review & Litigation Support
When fine art or personal property valuation becomes part of a legal dispute, the methodology and evidence supporting an appraisal may be closely examined. Roth | Escher provides independent appraisal expertise, appraisal review, litigation support, and expert witness services for legal matters involving fine art and personal property.
Professional Standards, Ethics & Confidentiality
Roth | Escher's appraisal practice is grounded in recognized professional standards. Our appraisal reports are prepared in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP) and the Principles of Appraisal Practice and Code of Ethics of the American Society of Appraisers (ASA). Professional appraisal practice requires independence, objectivity, and impartiality. Our appraisal fees are based on the work required to complete an assignment, not on the value of the property or the outcome of the appraisal. This distinction is important. An appraiser should not have a financial incentive to arrive at a higher or lower conclusion of value. Our responsibility is to the integrity of the appraisal and the evidence supporting it. Appraisal reports are also confidential. Information contained in a report is not disclosed to others without the client's authorization, except as otherwise required by applicable professional standards or law.
What Goes Into an Appraisal?
A professional appraisal is not produced by entering an artist's name into a sales database and selecting a recent result.
The process may involve several stages depending upon the assignment.
01
Define the Appraisal Problem
We establish the intended use, intended users, effective date, appropriate definition of value, property involved, and scope of work.
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Research Comparable Market Evidence
Our appraisers research relevant transactions and analyze similarities and differences between the subject property and appropriate comparable objects.
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02
Examine & Document the Property
Relevant characteristics may include artist or maker, title, medium, dimensions, date, signatures, marks, inscriptions, condition, provenance, exhibition history, publication history, and available ownership records.
05
Analyze & Develop the Valuation
Market evidence is considered together with the characteristics of the property, market conditions, intended use, and applicable appraisal methodology.
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03
Identify the Relevant Market
The appropriate market depends upon the property and purpose of the appraisal. Auction, dealer, gallery, retail, and other markets are not automatically interchangeable.
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Prepare the Appraisal Report
The completed report documents the property, research, methodology, assumptions and limiting conditions, and conclusions of value appropriate to the assignment.
Independent Appraisers vs. Interested Parties
Independence is particularly important in art valuation. Auction houses, dealers, galleries, and other art-market participants can provide valuable expertise, but they may also have a financial interest in a future sale or transaction. The role of an independent appraiser is different. Roth | Escher's appraisal fees are not contingent upon the value conclusion, and our appraisal practice is separate from the financial outcome of the property being valued. Our responsibility is to provide an objective, impartial, unbiased opinion of value based on appropriate research, methodology, evidence, and professional judgment. For attorneys, fiduciaries, insurance professionals, accountants, lenders, institutions, and private clients, that independence can be essential when the appraisal will be relied upon by others.
Experience Across Private, Professional & Institutional Collections
Roth | Escher has provided valuation advice for private collectors, families, estates, trusts, corporations, museums, universities, foundations, financial institutions, attorneys, insurance professionals, and other organizations throughout the United States.
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Our assignments range from individual works of art to extensive collections and estates containing hundreds or thousands of objects.
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That breadth of experience is particularly useful when an assignment involves multiple categories of property or requires coordination among appraisers, specialists, attorneys, fiduciaries, accountants, conservators, insurance professionals, or other advisors.
Frequently Asked Questions
01
What is the difference between an appraisal and an auction estimate?
An auction estimate is generally developed in connection with a potential sale and reflects the auction house's expectations for a work offered in that venue.
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A professional appraisal is prepared for a defined intended use and develops an opinion of value using the appropriate definition of value, market research, methodology, and supporting documentation.
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They serve different purposes.
02
Is the purchase price of an artwork its current value?
Not necessarily. Markets change, and the price originally paid for an object may not represent its value as of the appraisal's effective date. The appropriate valuation also depends upon the intended use and definition of value required for the assignment.
03
What is the difference between Fair Market Value and Replacement Value?
They are different definitions of value used for different appraisal purposes.
Fair Market Value is commonly relevant to assignments involving estates, charitable contributions, and certain other legal or financial matters.
A form of Replacement Value is commonly used for insurance coverage.
The appropriate definition is established according to the intended use of the appraisal.
04
Do you appraise entire collections and residences?
Yes. Assignments may involve one object, selected works, the contents of a residence, or extensive private, corporate, institutional, or artist collections.
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What if my collection includes objects outside Roth | Escher's specialties?
When appropriate, we can identify and coordinate with qualified specialists through our professional network.
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Are appraisal reports confidential?
Yes. Confidentiality is an important part of professional appraisal practice. Reports and client information are handled in accordance with applicable professional standards and are not disclosed without appropriate authorization, except where otherwise required.
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Do you work with attorneys, accountants, fiduciaries, and insurance professionals?
Yes. Roth | Escher regularly works with professional advisors and institutional clients in addition to private collectors and families.
Valuations That Withstand Challenge
A professional appraisal should do more than state a number.
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It should identify the property accurately, address the correct valuation question, apply appropriate methodology, analyze relevant market evidence, and clearly document how the conclusion was developed.
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Roth | Escher Art Group provides independent fine art and personal property appraisals supported by decades of experience, accredited expertise, advanced scholarship, extensive research, and recognized professional standards.
Whether an assignment involves a single artwork or a complex collection, the objective remains the same:
An accurate, objective, impartial, and well-supported opinion of value appropriate to its intended use.