Art Appraisal

Soltesz Fine Art creates accurate and detailed appraisal documents that adhere to the Uniform Standards of Professional Appraisal Practice (USPAP). Whether you are seeking an appraisal for insurance coverage, potential sale of a work, charitable contributions, estate planning, dissolution of marriage, or to establish damage or loss, Soltesz Fine Art can assist you. 

Our appraisal services are primarily focused in Park City, UT, Salt Lake City, UT, Portland, OR but we can assist clients with appraisal needs across the country. Please contact us to discuss your specific appraisal needs.

WHAT IS AN APPRAISAL?

An appraisal is an unbiased opinion of value formed by accurately identifying the object and researching and analyzing the appropriate market. The value conclusion is substantiated by current market comparables and is documented in an appraisal report.

WHAT MAKES A QUALIFIED APPRAISER?

There is no state or federal licensing for personal property appraisers.  Appraisers therefore distinguish themselves through professional appraisal organizations, such as the American Society of Appraisers (ASA) or the International Society of Appraisers (ISA). All qualified appraisers must adhere to the Uniform Standards of Professional Appraisal Practice (USPAP) created biennially by the Appraisal Foundation.

WHAT IS USPAP?

USPAP is the Uniform Standards of Profession Appraisal Practice created by The Appraisal Foundation in 1987.  As stated by the Appraisal Foundation, "USPAP are the generally accepted standards for professional appraisal practice in North America. USPAP contains standards for all types of appraisal services..."  USPAP was created to serve as a guideline for appraisers to maintain and practice the highest level of valuation consulting services and to provide the public with the means to measure competence and compliance with professional standards. All appraisal reports must include a signed and dated certification that these USPAP requirements have been fulfilled.  Appraisers are required to take the 15 hour USPAP course and be re-examined periodically.

WHAT IS THE APPRAISAL PROCESS?

Soltesz Fine Art starts the appraisal process by asking the purpose for which the appraisal is required, insurance coverage, sale of the art, etc... The appraiser will then do a complete examination of each work to be appraised.  At this point any information you have regarding your art, such as invoices, past appraisals, or any other pertinent information regarding the work should be made available to the appraiser. This is followed by extensive research and market analysis to ultimately establish an opinion of value. All of this information will be recorded in an appraisal document and delivered to the client upon the completion of the assignment.

WHAT IS CONTAINED IN AN APPRAISAL DOCUMENT?

An appraisal report is a multi-page document clearly stating value for a given work. At minimum, a report should contain the following: effective date of appraisal, client and appraiser name, intended use and users, type of value, scope of work, property identification, photographs, value conclusion, privacy statement, USPAP certification and appraiser's signature.

HOW FREQUENTLY SHOULD ARTWORK BE APPRAISED?

It is recommended to have your artwork appraised every 5 years to make sure the market data is current.

DO YOU AUTHENTICATE ART?

Appraisers are valuers not authenticators. The artist that created the work is the only true authenticator; if they are no longer living then one must depend on known and respected experts for the particular artist.