June 18th, 2012
We recommend the services of Melissa Soltesz to our collectors who are seeking appraisal services. In a past newsletter, we highlighted Ms. Soltesz with an interview, excerpted below. Above, please enjoy a recent feature in Park City Magazine, highlighting her services (just click on the image to enlarge).
Q: I have a reasonable collection, and have been collecting for 20 years, or so. How do I know if my collection needs to be appraised?
A: Your art collection should be insured whether you have been collecting for 2 years or 20 years in an effort to protect it, should a disaster occur. Today most insurance companies require an appraisal document for fine art coverage. However it is up to the client to determine what work should be covered. Typically when working on a collection I suggest any work that is valued at or over $1,000 should be included in the appraisal document. If there are pieces in the collection that have been acquired in the last 2 years typically insurance companies will accept an invoice in lieu of an appraisal for this work. It is in a client’s best interest to have their work appraised every 5 years. This is advised because artwork increases in value over the years and having an updated appraisal will ensure that you have the most current replacement value documented for your insurance policy.
Q: Do you come to my house or do I bring the work to you?
A: In most cases I come to you. With risk of damaging artwork in transit it is safer for me to come to your home to view the work. Before my arrival I ask that you have all the pieces accessible and have any documentation for the work on hand. Any invoices, previous appraisals, biographical information and/or any general information on the work are useful and help to expedite the appraisal process. While at your home, I do a full inspection of each piece including examine condition, take photographs and document dimensions. Once I have completed the inspection I can then calculate an estimate for time frame and cost.
To learn more about the appraisal process please contact Melissa Soltesz of Soltesz Fine Art Consulting at 435-901-0961 or visit the website www.solteszfineart.com