ART AND ANTIQUES APPRAISALS

LFAS is owned and administered by Juan P. Lluria. A certified member with AAA, in New York City, in the appraisal of general residential contents, Mr. Lluria has over 30 years of experience in the world of fine art, antiques and superior decorative household appointments. LFAS is available locally or in your city anywhere in the USA with proper advance notice by appointment to appraise fine art, antiques & collectibles for clients who need to establish:

• INSURANCE or REPLACEMENT VALUE to cover and recompense  owner and collectors in the event of loss or damages
• FAIR MARKET VALUE for tax and estate planning, divorce settlements, equitable distribution of assets, or to meet IRS guidelines for tax deductible charitable contributions.
• INFORMATIONAL or MARKETABLE CASH VALUE for possible purchase,   collateral loan purposes, or in the event of a forced sale.

• EQUITABLE DISTRIBUTION which is similar in many ways to marketable cash value and is for fair sharing of a collection as it is being dispersed among beneficiaries.

Appraisals prepared by LFAS conform to the standards of the Uniform Standards of Professional Appraisal Practice established by the Appraisal Foundation.

             CUSTOMARY REASONS FOR WHICH AN APPRAISAL IS ADVISABLE

• INSURANCE: To determine the Replacement Value, most commonly at retail, of an object in order to correctly provide for insurance coverage.
• CHARITABLE CONTRUBUTIONS: To determine the Fair Market Value of an object given to an accepting organization or institution in order to aid in establishing the donor’sincome tax deduction.
• ESTATE TAXES AND PLANNING: To determine the Fair Market Value of an object in connection with the preparation of estate tax returns, or to assist in estate planning, &/or in the equitable distribution of assets among beneficiaries.
• DIVORCE AND PROPERTY DIVISION:  To determine the Market Value of an object in order to assist in the equitable distribution of property that is jointly owned by individuals, business associates, or corporations that may be changing ownership.
• LOSS OR DAMAGE CLAIMS: To determine the Replacement Value of an object lost or damaged &/or the amount, if any, of any loss in value as a result of the damage.  Utilized to aid or facilitate claims settlements.

THE APPRAISAL PROCESS CUSTOMARILY ENTAILS THE FOLLOWING STEPS

• INITIAL APPRAISAL ONSITE: The time necessary for the Appraiser to examine, evaluate, photograph, measure, and inventory all items that will be included in the Report.
• RESEARCH: The time necessary for the Appraiser to identify marks and labels, verify dates, consult experts, and research values of the items to be included in the Report.
• REPORT PREPARATION: Involves the organizing, typing, assembly, and printing of the appraisal report and photographs.
• FEES: Fees are customarily charged on an hourly basis.

BEFORE THE APPRAISER’S ARRIVAL TO UNDERTAKE THE ASSIGNMENT, PLEASE BE PREPARED BY FOLLOWING THE GUIDELINES BELOW. THIS WILL ENSURE GOOD ORGANIZATION FOR CLIENT AND APPRAISER ALIKE.

Please understand that the appraiser’s inspection fee is based on an hourly charge; whatever you can do to prepare and organize items for the appraiser’s inspection will save time for the appraiser, and inevitably cost for the client.

If most items at the inspection location are to be appraised, signify the items that should not be appraised with a tag or note. Otherwise, the appraiser has no idea and may either omit to examine and record an item for the appraisal. Or the appraiser may appraise an item the client didn’t want or need to be appraised.

It’s certainly advisable to provide the appraiser with a list of what the client wants appraised to clarify the assignment at the beginning. The appraiser may identify an item that may perhaps be advisable to appraise during the inspection. But such suggestions can always be discussed at the initial meeting with the client.

PLEASE UNDERSTAND AN APPRAISER IS NOT A MOVING MAN OR A HANDYMAN.

Before the arrival of the appraiser, please arrange to have all items accessible to the appraiser; if items are in storage areas, garage, outbuildings, basements, attics, boxed items should be unpacked and laid out for inspection If you do not wish to undertake this task. The client is well advised to provide a mover or handyman to unpack and repack the items for the appraiser after the items have been recorded, measured and photographed.

Similarly, if large pieces of furniture/artwork/mirrors are being appraised, the client must arrange to have household staff member, a handyman or mover to move the object away from the wall so the back can be viewed; if it is an antique piece of furniture, it should be emptied so construction techniques can be observed. Paintings should be removed (or readily removable) from the wall so that the appraiser can inspect the back.

However, if the item is too large (or heavy, or fragile) to move, then it may have to remain in place. The item will be appraised in place and so noted under the Limiting Conditions section of the appraisal document. Antique tall case clocks should have their hoods removed and placed, in close proximity to the clock to allow better inspection.

When it comes to smaller objects d’art, the appraiser will move small artwork or wall art that is manageable and easily reached. If any space is at hand, it’s advisable to put silver out for the appraiser on the available tabletop. Sets of crystal and porcelain dinner services are more easily inspected if the client can remove them from cabinets and place them on a reachable surface. If space is limited, it’s also possible for the client (or the client’s housekeeper or handyman) to take these items out of the cabinet and place them when being inspected. After the appraiser has recorded them, these items can be placed back in their respective cabinets.

Please appreciate, even the most experienced generalist appraiser of household contents can’t be an expert in everything and every collecting category. In certain instances where an estate of some distinction includes items such as jewelry, coins, certain Non-Western Art (Native American, Oceanic, African, Pre-Columbian, certain esoteric Asian), Oriental carpets, and items such as firearms, Arrangements for a specialist may be applicable for these items and the appropriate hourly or flat fee is also to be charged by each specialist as required. Additionally, some fine art may require examination by a specialist. Please discuss this in advance with the appraiser when reaching out to engage one.

It is also vital for the client to present the appraiser with all archival material at hand, to assist the appraiser in providing the client with the best possible appraisal. The ability of the appraiser to record the history of the art or object of the items being appraised sheds light on the history of the object. Transparency and full disclosure of any information pertaining to the specific property(ies) assist the appraiser to make correct assessments that are less based on assumptions and more based on information and facts. All facts known by the client, about the items being appraised should be shared with the appraiser. Therefore, clients are requested and expected to share all information they have regarding provenance, original invoices from galleries, gallery brochures and publications in which the art is illustrated, and prior appraisals which shed light on identification of artists or artisans, which can assist the appraiser if a certain work of art has a signature that is challenging to read, but was already identified in a prior appraisal done many years before. The client is also requested to provide old or current insurance schedules that include the items, inventories from prior owners or estates if available, and any repair and restoration documentation.

THE IMPORTANCE OF ALLOWING THE APPRAISER TO ORDER CONDITION REPORTS

When paintings and drawings of potential notable value are appraised, it is vital to also commission an updated condition report to be prepared by a qualified art conservation professional. This more scientific and technical examination of a work of art could easily reveal subtle old restorations and other condition issues that the appraiser (who is not an art conservator) might fail to identify. This could offset the appraiser’s final valuation. The art conservator’s fees would also additionally apply. If the client does not want to undertake the expense, the appraiser will be obliged to note this in the Limiting Conditions of the appraisal in the event unrecorded old restoration and other conditions issues affecting the appraised value later emerge of the painting is sold.

ADVISORY SERVICES

LFAS is always available to clients who seek a personal level of guidance and assistance with the various facets of their collecting needs. In addition being available for appraisal services, LFAS is also available to advise clients who are new to collecting and seeking assistance in forming a serious collection in the acquisition of important items by offering objective opinions. Unlike most interior designers who too often in appropriately assume the role of an art or antiques advisor, LFAS does not work on a percentage but charges a flat fee per day or per service with any travel expenses paid. Juan P. Lluria and his network of associates in a variety of collecting fields are always available to accompany clients on travels to notable World class antiques galleries, important auction houses, international art and antiques fairs to arrange introductions to world class specialists and dealers, facilitate in the purchase on the client’s behalf, and overseeing shipping and handling matters for the client.

Juan P Lluria is well acquainted with the owners of some of the most respected antiquaires in Paris and Versailles and very familiar with their inventory. Mr. Lluria is always available to accompany and guide new North American or Latin American collectors who want to start seriously buying in France and who would enjoy making initial acquisitions of superior period furniture and decorations with the help of an expert insider. Mr. Lluria is also available to accompany interested clients to galleries and auction houses in almost any major city in Europe and the USA. 

Too often, society interior designers presume to take on the role of self appointed acquisitions advisor and too often aggressively encourage the client to buy art and antiques “as a good investment” in order to make a commission from dealers, while usually also charging the client an additional percentage of the purchase. LFAS does not require such a commission from gallery owners. And if the client returns to a gallery or auction house after our time together and later buys independently, LFAS does not ask or expect a percentage of the client’s purchase when advising in this manner. The payment for our service is essentially on a flat fee per day or per service basis. LFAS can also provide various collection management services to private and corporate collectors such as assisting with archival collection records and collection research, being a liaison with other professionals such as art conservators and framers, compiling photographic records of collections, overseeing shipping and handling of art and objects as needed, and assisting in the lending of works of art and antiques to museums for public exhibition.