We've all heard stories of lucky individuals purchasing antiques at a garage sale, only to find out later that their $45 purchase turned outed to be worth $20,000. Though we often daydream of making such a remarkable find, we rarely consider the other side of the coin. While someone made a $19,955 profit, another individual experienced an equivalent loss.
For individuals who have accrued fine art, antiques, or other luxury assets, it's essential that they hire a Uniform Standards of the Professional Appraisal Practice (USPAP) qualified appraiser who can provide the client with an unbiased opinion of value to ensure that they make financially prudent decisions.
As an appraiser, it is not uncommon to find assets valued at 10s or even 100s of thousands of dollars collecting dust in attics, storage units, or closets. We've found old master paintings hanging in powder rooms, Sevrés urns stored in attics, and modernist paintings tucked away in forgotten storage units. In these circumstances, we've identified five-figure assets hiding in plain sight.
While you might feel that it is in your best interest to skip attaining a fair market value appraisal during your financial planning, or prior to pursuing a sale with an auction house or private dealer, you might be leaving thousands of dollars on the table.
As qualified and experienced appraisers and advisors, we will help you navigate the complex and murky waters of the art world. We'll make sure you fully understand the identity and value of these items, and implement a strategy for attaining that value through auction or private sale.