How can a single artwork have multiple values?
In this video, certified appraiser Jennifer Stoots illustrates how a single work of art can have different values, depending on the purpose of the appraisal and the needs of the client.
The art of appraising demystified.
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Jennifer Stoots, AAA
Certified photography & art appraiser, accredited by the Appraisers Association of America, specializing in
Photography & Photographic Archives ♦ Northwest Art ♦ Contemporary Art
with resources available to assist with the appraisal of:
Fine Craft and ceramics, Early American painting, Master Prints, and traditional Native American arts & crafts, among other specialty areas.
Project quotes are based on the type of appraisal, the number of artworks to be appraised (& by how many artists), and documentation available (e.g., past invoices).
Appraisals are considered proprietary, such that your information, the information you provide and the appraisal results are confidential.
Insurance appraisals are important to have if:
- you need to schedule artwork on your homeowners, renters, or marine policy
- you are going to be moving, shipping artwork, or loaning pieces for an exhibition
- you’re in the process of estate planning
Donation & Estate appraisals for the IRS* are required when:
- you have donated artwork(s) worth more than a total value of $5,000 to a museum or institution and need an appraisal in order to claim the tax credit for the charitable gift
- a family member or friend has died and a full accounting of assets has to be reported to the IRS as part of the Estate’s filing
*Appraisals are IRS compliant and my USPAP credential is currently valid through November 20, 2022.
Divorce & Dissolution appraisals are needed when:
- a couple decides to divorce and needs to know the value of mutually owned property, to ensure that each person is compensated equitably
- a business closes and has to sell off artwork bought for the office
Damage or Loss appraisals are essential when:
- artwork is damaged and the insurance provider needs an objective loss in value in order to properly compensate the policy holder (collector or creator)
- artwork has been lost or destroyed (e.g., fire or theft) and there is no current appraisal on file
Once in a while we encounter someone who goes above and beyond. Jennifer Stoots is one of those people. I emailed her with a simple question she could have replied to with a few words and a link. For that I would have been grateful. Instead she called to discuss the issue making sure she provided the best referral. Jennifer is a consummate professional who delivered more than I hoped for.
—David Paul Bayles, Photographer (David asked me to recommend an attorney that could help with his particular situation.)
I would recommend Jennifer in a heartbeat. You don’t know you need her until you enter her world of buying, selling and appraising art. Stoots is insightful and thorough and practical, personable and funny.
I highly recommend Jennifer for appraisal and consulting services. I would describe Jennifer as conscientious, detailed and efficient; she is highly regarded by museum curators and has a well respected reputation.
Of all the appraisers I’ve worked with in documenting charitable gifts of artwork, your work product was the most complete and professional, providing all of the information required for a valid deduction.
I was extremely pleased with the work that Jennifer Stoots did in appraising several
photographs that I recently gave to a museum.
The research that she did was thorough and prompt and written up in a excellent and professional manner for IRS review.