Richard & Associates Art Appraisals specializes in antique American Indian art appraisals that comply with the Uniform Standards of Professional Appraisal Practice (USPAP). Brokerage services and consultation regarding collections, purchases and sales are also offered. Aarin Richard is a member of the International Society of Appraisers.
Every appraisal is crafted for the intended use and specific needs of our clients. The result will be a printed, multi-page report that includes photos, descriptions, values and value reasonings for each item. All reports are written to standards set by the International Society of Appraisers.
Appraisals are often needed for the purposes of:
- Insurance Coverage / Claims
- Charitable Donation Tax Deductions
- Equitable Distribution, Estate / Divorce
- Estate Planning
- Estate Tax Liability
- Capital Gains Tax Liability
- Value Confirmation / Informed Decision Making
The process of developing an appraisal report for American Indian art or fine art begins with an initial consultation to determine the purpose of the report. After inspecting the items for quality, condition and identification purposes, research is conducted and data is compiled in order to come to a determination of value within the appropriate marketplace. Once the values have been established along with any conditional or assumptive provisos, an extensive report is crafted. Verbal opinions of value and / or oral appraisal reports are also available, with certain limitations.
For federal tax reporting purposes, the IRS requires that appraisals be performed by a qualified appraiser. This is someone who has met certain levels of defined competency and knows the established criteria for such appraisals. Members of appraisal organizations such as ISA are required to adhere to the Uniform Standards of Professional Appraisal Practice (USPAP), developed by The Appraisal Foundation.
$175 per hour for inspection, research, report writing, oral reports, verbal opinions of value and consultation. There is a 3 hour minimum. A retainer of 50% of the estimated total is required to start an assignment. Final payment is due prior to the release of the report. The initial consultation is free of charge.
Court / Legal:
$250 per hour for expert witness testimony, depositions, conference, court preparation and appearance. Retainer to be paid in advance.
$75 per hour plus all incurred expenses and / or per diem as agreed upon.