ESTATE PLANNING & EQUITABLE DISTRIBUTION APPRAISALS
Tangible assets are now widely recognized as an asset class in their own right and can include fine art, furniture, decorative arts, coins, jewelry, textiles, rare cars and assorted collectibles. As assets, these items need to be managed as repositories of significant monetary value with proper collection management.
Managing the tangible assets is as important as managing the financial assets during estate planning. Part of estate planning should always include a review of the values on existing appraisals and updating appraisals for new acquisitions.
Based on fair market value (FMV), PMAA’s appraisals for Equitable Distribution take into consideration all aspects of the client’s portfolio and their long-term goals for the collection. Working with our clients, their financial advisors and their families, our appraisals are customized for continuing the legacy of the family and collection.
PMAA Equitable Distribution Appraisals include:
- Individual cataloguing, photographs and values for each item valued over a client specified threshold
- Digital and hardbound copy of report(s)
- Comparable sales results and analysis
- Condition reports on items valued over $100,000 (FMV)
- Organization by giftees and/or dates of gift
- Narrative for items over $100,000 (FMV) to discuss current market
- Complimentary yearly reviews for price fluctuations
Other services include::
- Collection care and management: storage, exhibition, shipping, conservation, etc.
- Family Organization: Establishing items that should be kept within the family, items that can be donated, items that can be sold (either to benefit the family or a charitable organization)
- Determining a timeline for execution of collection organization
Sources used to determine fair market value for equitable distribution values:
- Auction market for assessment of current market for the particular artist and/or type of work being valued
- Auction house records from international auction houses using several databases that search more than 12,000 sellers and 58 million global records
- Living artist and artist estates to confirm authenticity, editions, etc.
- International art fair reports
- Private collectors and advisors
- Over 75 contracted specialists familiar with global, national and regional market pricing
For inquiries please contact Kate Molets
Director of Appraisals