Anthony's Appraisal Blog
CHARITABLE CONTRIBUTIONS: BENEFITS OF ART DONATIONS
Donating fine art can be a means of benefiting a museum, school or any qualified charitable organization as well as obtaining possible income tax savings for the individual or corporation who gives the art work. The Fair Market Value of your donated art works may be deducted from your income for the year of your donation when given to...read more
THE VALUE OF ESTATE HOUSEHOLD TANGIBLE PERSONAL PROPERTY
There are generally FOUR grades of tangible personal property found in the estate of a decedent: 1) Investment quality household furnishings, collectables and art. These are items of which the value outpaces inflation and may be considered as appreciable capital investments even though they may not have been considered as such at the time of purchase. Some of these items might be rare or important works of art or antiques. They might be rare or important books, documents or any form of collectable...read more
DAMAGE TO PAINTINGS: APPRAISAL ELEMENTS
Oil paintings on canvas have four primary components:
- a) The "canvas" which is the backing or support of the other components. Most canvas is machine-made woven fabric or material. This fabric easily absorbs moisture causing an expansion of the fabric and resulting in a loosening of the remaining elements of the painting.
- b) "Sizing" is a sealant covering the canvas. It is also subject to deterioration and separation if moist or wet.
- c) The "ground" or actual surface on which the paint is placed is generally a very thin layer of plaster. The plaster is extremely vulnerable to moisture and when wet for an extended period of time causes lifting away or flaking from its support and as it separates it takes the paint layer with it. (i.e., paint loss)
- d) The "paint" surface is generally moisture resistant, however, its life totally depends upon the "canvas", "ground", and "size" remaining free of moisture, tearing, puncture or any kind of abrasion...read more
DAMAGE TO ART WORK ON PAPER
There are more works of art created on paper than on all other supports combined and unfortunately restoration and repairs to works of art on paper are the most difficult. Practically anything can be repaired, but in cases of insurance losses, we are forced to make value judgments as to whether or not the cost of making a repair and the resulting loss of value of a repaired art work would be economically feasible. A work of art in color will sometimes lose color intensity or signatures as a result of the chemicals necessarily used to remove collateral stains. Most collectors are very particular when obtaining a work of art on paper, and any noticeable repairs or slight paper defects can greatly reduce the desirability, demand and value of these collectibles. A qualified appraiser has must make these informed value judgments when evaluating damaged art work...read more