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The complex made
easier…
Canada Customs and Revenue, and the United
State’s IRS, have strict criteria governing the deductions
from non-cash charitable donations of artwork. Even the definition
of Fair Market Value varies from state to state and from province
to province. Fractional interest, estate tax, gift tax, casualty
loss, inheritance tax, and definitions of cultural property…
only a qualified appraiser can guide you through the maze
of paperwork.
Well-prepared appraisals are also essential to equitable distributions
in divorce cases. Here again, the definitions of common and
shared property vary from jurisdiction to jurisdiction. A
competent appraiser is conversant with all the local laws
governing marital regimes.
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All our real-time
appraisals conform to the International Society of Appraisers'
Report Writing Standards and the ISA Code of Ethics, and the
Uniform Standards of Professional Appraisal Practice.
Appraisers use standard methodology
to establish value, including careful study of the retail
market and auction records of comparable works. Too often,
a so-called appraisal is limited to the off-the-cuff quote
of an arbitrary figure, arrived at after a cursory study of
the work. But owners should know that a work of art could
carry many price tags, including Fair Market Value or Replacement
Value.
Are you buying?
Are you selling?
Looking to insure a work?
Donating art for a tax advantage?
Liquidating an estate?
All sorts of circumstances and requirements can affect the valuation of a work, and only an experienced, certified appraiser can provide you with a valid, documented appraisal.
For an appointment, contact Marc
Carrier by e-mail
or call 514.715.7136
(24hrs for overseas clients) |
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