ADVISORY SERVICES: FINE ART OWNERSHIP & PORTFOLIO MANAGEMENT

WHAT SHOULD YOU DO WHEN YOU INHERIT AN ART COLLECTION?

As Independent Art Advisors, we advise on the financial aspects of owning art. The advice we provide is meant to increase the value of your collection, whether you inherited it or built it yourself.

If you have recently inherited an art collection, follow these essential management steps:

• Inventory the collection.
• Check that authenticity is documented for all artworks. Get certificates and backup documentation for all artworks not already authenticated.
• Check that all artworks have a clear title.
• Appraise the current Fair Market Value of each artwork as well as the Replacement Value.
• Check that all artworks are insured with the correct and highest Replacement Value.
• Check the condition of all artworks and how much it reduces the value of each artwork, if at all.
• Evaluate if restoration of some artworks will increase their value or salability.
• Check the storage conditions of the collection.
• Check which artworks are increasing and decreasing in value.
• Decide what to sell considering tax implications, market trends, and other variables.

If you need assistance with this, we offer our services worldwide.

HOW DO YOU PROVE ARTWORK OWNED FOR GENERATIONS IS AUTHENTIC?

To confirm whether art owned for generations or purchased years ago is authentic, the process requires:

• Provenance research
• Documentary research
• Scientific analyses
• Forensic studies

If you need help with it, let us know. We’ve done it thousands of times.

HOW DO YOU EFFECTIVELY MANAGE AND PROTECT YOUR OWN ART PORTFOLIO?

To properly manage an active fine art portfolio:

• Keep an up-to-date inventory.
• Catalogue every piece.
• Add a condition report.
• Ensure the storage/display conditions are adequate.
• Promote the finest pieces.
• Increase value through research in addition to what the market might do.
• Update the appraisal-valuation of each piece every year or two.
• Follow the market for each artist you own.
• Make sure each piece is correctly insured.
• Make sure you have all the documentation the insurance company would require in the event an artwork would be destroyed, stolen, or damaged.
• Sell art that is receding in value and has no financial future.

WHAT IS REQUIRED TO INSURE FINE ART PROPERLY?

There is much to consider carefully when it comes to the many aspects of insuring art. The crucial one is to put yourself in a position to prove incontrovertibly that your artwork was authentic and how much it was worth.

HOW DO YOU USE FINE ART AS COLLATERAL TO OBTAIN A LOAN?

To secure an art-backed loan against your collection:

• Strengthen the pedigree of the art.
• Get an advanced 3rd-degree appraisal/valuation.
• Manage how much you borrow per artwork.

WHY DO YOU NEED A FORMAL ART APPRAISAL OR VALUATION?

A bespoke art appraisal is required for:

• Estate planning
• Distribution of marital assets
• Marital buyouts
• Insurance coverage
• Using an artwork as financial collateral

OUR ADVISORY CONSULTATION PROCESS

We treat all client communications with strict confidentiality and welcome executing our mutual Non-Disclosure Agreement prior to our initial conversation.

What is the primary topic or situation you would like to discuss?

How would you prefer to conduct your consultation?

• By phone
• Virtual meeting via Zoom, Google Meet, or Microsoft Teams
• In person at the location of your choice, in the US or anywhere abroad

Once you let us know, we will send you a bespoke proposal.

Call us at +1 (212) 658-0466 or submit a confidential inquiry using the contact form below.